Free Trial
→ SpaceX eyes a 1.75 trillion valuation - here's what to know (From Brownstone Research) (Ad)tc pixel Free ULTA Stock Alerts

Ulta Beauty (ULTA) Financials

Ulta Beauty logo
$535.17 +2.64 (+0.50%)
As of 02:22 PM Eastern
This is a fair market value price provided by Massive. Learn more.
Compare
Annual Income Statements for Ulta Beauty

Annual Income Statements for Ulta Beauty

This table shows Ulta Beauty's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/30/2016 1/28/2017 2/3/2018 2/2/2019 2/1/2020 1/30/2021 1/29/2022 1/28/2023 2/3/2024 2/1/2025 1/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 320 410 555 659 706 176 986 1,242 1,291 1,201 1,153
Consolidated Net Income / (Loss)		 320 410 555 659 706 176 986 1,242 1,291 1,201 1,153
Net Income / (Loss) Continuing Operations		 320 410 555 659 706 176 986 1,242 1,291 1,201 1,153
Total Pre-Tax Income 		507 656 787 859 906 231 1,296 1,644 1,696 1,580 1,531
Total Operating Income		 506 655 785 854 901 237 1,297 1,639 1,678 1,565 1,533
Total Gross Profit		 1,384 1,747 2,097 2,409 2,681 1,949 3,369 4,045 4,381 4,387 4,845
Total Revenue		 3,924 4,855 5,885 6,717 7,398 6,152 8,631 10,209 11,207 11,296 12,393
Operating Revenue		 3,924 4,855 5,885 6,717 7,398 6,152 8,631 10,209 11,207 11,296 12,393
Total Cost of Revenue		 2,540 3,108 3,788 4,307 4,717 4,203 5,262 6,164 6,826 6,908 7,548
Operating Cost of Revenue		 2,540 3,108 3,788 4,307 4,717 4,203 5,262 6,164 6,826 6,908 7,548
Total Operating Expenses		 878 1,092 1,312 1,555 1,780 1,712 2,071 2,406 2,703 2,822 3,312
Selling, General & Admin Expense		 863 1,074 1,287 1,535 1,761 1,583 2,062 2,395 2,695 2,809 3,296
Other Special Charges / (Income)		 15 19 24 20 19 15 9.52 11 8.51 14 16
Total Other Income / (Expense), net		 1.14 0.89 1.57 5.06 5.06 -5.74 -1.66 4.93 18 15 -1.79
Interest & Investment Income		 - 0.89 1.57 5.06 5.06 -5.74 -1.66 4.93 18 15 -1.79
Income Tax Expense		 187 246 232 201 200 55 310 401 405 379 374
Other Gains / (Losses), net		 - - - - - - - - 0.00 0.00 -3.86
Basic Earnings per Share		 $5.00 $6.55 $9.02 $11.00 $12.21 $3.12 $18.09 $24.17 $26.18 $25.44 $25.72
Weighted Average Basic Shares Outstanding		 63.95M 62.52M 61.56M 59.86M 57.84M 56.35M 54.48M 51.40M 49.30M 47.21M 44.84M
Diluted Earnings per Share		 $4.98 $6.52 $8.96 $10.94 $12.15 $3.11 $17.98 $24.01 $26.03 $25.34 $25.64
Weighted Average Diluted Shares Outstanding		 64.28M 62.85M 61.98M 60.18M 58.11M 56.56M 54.84M 51.74M 49.60M 47.40M 44.99M
Weighted Average Basic & Diluted Shares Outstanding		 62.62M 62.13M 60.61M 58.80M 56.31M 56.21M 52.33M 50.20M 48.27M 45.31M 43.74M

Quarterly Income Statements for Ulta Beauty

This table shows Ulta Beauty's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 2/1/2025 5/3/2025 8/2/2025 11/1/2025 1/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 300 249 394 313 253 242 393 305 261 231 357
Consolidated Net Income / (Loss)		 300 249 394 313 253 242 393 305 261 231 357
Net Income / (Loss) Continuing Operations		 300 249 394 313 253 242 393 305 261 231 357
Total Pre-Tax Income 		396 330 520 408 334 320 518 405 346 305 474
Total Operating Income		 392 327 517 401 329 319 516 402 345 309 477
Total Gross Profit		 994 992 1,341 1,070 978 1,006 1,334 1,114 1,092 1,156 1,484
Total Revenue		 2,530 2,489 3,554 2,726 2,552 2,530 3,488 2,848 2,788 2,858 3,898
Operating Revenue		 2,530 2,489 3,554 2,726 2,552 2,530 3,488 2,848 2,788 2,858 3,898
Total Cost of Revenue		 1,536 1,497 2,214 1,656 1,574 1,524 2,154 1,734 1,697 1,702 2,415
Operating Cost of Revenue		 1,536 1,497 2,214 1,656 1,574 1,524 2,154 1,734 1,697 1,702 2,415
Total Operating Expenses		 602 665 823 669 649 687 817 712 747 846 1,007
Selling, General & Admin Expense		 601 661 820 666 645 682 816 711 742 841 1,003
Other Special Charges / (Income)		 1.28 3.46 3.11 2.92 4.16 4.88 1.73 1.83 5.11 5.33 3.56
Total Other Income / (Expense), net		 4.45 2.50 3.33 6.90 4.53 1.67 1.99 3.55 1.41 -4.12 -2.62
Interest & Investment Income		 4.45 2.50 3.33 6.90 4.53 1.67 1.99 3.55 1.41 -4.12 -2.62
Income Tax Expense		 96 80 126 95 81 78 125 100 85 73 116
Other Gains / (Losses), net		 - - - 0.00 0.00 0.00 - -0.63 -0.60 -0.99 -1.65
Basic Earnings per Share		 $6.05 $5.09 $8.12 $6.51 $5.32 $5.16 $8.45 $6.72 $5.80 $5.16 $8.04
Weighted Average Basic Shares Outstanding		 49.62M 49.01M 49.30M 48.13M 47.51M 46.93M 47.21M 45.36M 44.96M 44.73M 44.84M
Diluted Earnings per Share		 $6.02 $5.07 $8.06 $6.47 $5.30 $5.14 $8.43 $6.70 $5.78 $5.14 $8.02
Weighted Average Diluted Shares Outstanding		 49.85M 49.23M 49.60M 48.38M 47.67M 47.09M 47.40M 45.51M 45.11M 44.90M 44.99M
Weighted Average Basic & Diluted Shares Outstanding		 49.23M 48.56M 48.27M 47.72M 47.11M 46.37M 45.31M 44.95M 44.84M 44.36M 43.74M

Annual Cash Flow Statements for Ulta Beauty

This table details how cash moves in and out of Ulta Beauty's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/30/2016 1/28/2017 2/3/2018 2/2/2019 2/1/2020 1/30/2021 1/29/2022 1/28/2023 2/3/2024 2/1/2025 1/31/2026
Net Change in Cash & Equivalents		 -43 39 -108 132 -17 654 -614 306 29 -63 -279
Net Cash From Operating Activities		 376 634 779 956 1,101 810 1,059 1,482 1,476 1,339 1,503
Net Cash From Continuing Operating Activities		 376 634 779 956 1,101 810 1,059 1,482 1,476 1,339 1,503
Net Income / (Loss) Continuing Operations		 320 410 555 659 706 176 986 1,242 1,291 1,201 1,153
Consolidated Net Income / (Loss)		 320 410 555 659 706 176 986 1,242 1,291 1,201 1,153
Depreciation Expense		 165 210 253 279 296 298 268 241 244 267 301
Non-Cash Adjustments To Reconcile Net Income		 9.79 19 32 30 310 375 329 27 392 31 51
Changes in Operating Assets and Liabilities, net		 -119 -5.10 -60 -11 -210 -38 -524 -29 -451 -161 -2.20
Net Cash From Investing Activities		 -279 -273 -531 -215 -471 -49 -176 -315 -441 -383 -931
Net Cash From Continuing Investing Activities		 -279 -273 -531 -215 -471 -49 -176 -315 -441 -383 -931
Purchase of Property, Plant & Equipment		 -299 -373 -441 -319 -299 -152 -172 -312 -435 -374 -435
Acquisitions		 - 0.00 0.00 -16 0.00 -1.22 - - 0.00 0.00 -387
Purchase of Investments		 -130 -90 -330 -386 -110 - - - 0.00 0.00 -70
Sale and/or Maturity of Investments		 150 190 240 506 -63 104 -4.30 -2.46 -6.16 -8.63 -40
Net Cash From Financing Activities		 -140 -322 -356 -609 -647 -108 -1,497 -861 -1,006 -1,019 -851
Net Cash From Continuing Financing Activities		 -140 -322 -356 -609 -647 -108 -1,497 -861 -1,006 -1,019 -851
Repayment of Debt		 0.00 0.00 -0.58 0.00 0.00 -802 0.00 0.00 -195 -204 -2,183
Repurchase of Common Equity		 -167 -344 -368 -616 -681 -115 -1,522 -900 -996 -1,003 -901
Issuance of Debt		 - - - 0.00 0.00 800 0.00 0.00 195 200 2,215
Other Financing Activities, net		 27 23 12 6.98 34 8.88 25 39 -10 -11 19
Other Net Changes in Cash		 - - - - - - - - - 0.00 0.27
Cash Interest Paid		 - - - 0.00 0.00 6.99 2.13 2.14 3.33 4.16 9.67
Cash Income Taxes Paid		 179 213 255 196 134 19 371 430 328 386 382

Quarterly Cash Flow Statements for Ulta Beauty

This table details how cash moves in and out of Ulta Beauty's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 2/1/2025 5/3/2025 8/2/2025 11/1/2025 1/31/2026
Net Change in Cash & Equivalents		 -248 -267 645 -242 -111 -236 525 -249 -212 -38 219
Net Cash From Operating Activities		 124 -71 1,118 159 200 -57 1,037 220 97 5.64 1,181
Net Cash From Continuing Operating Activities		 124 -71 1,118 159 200 -57 1,037 220 95 6.87 1,181
Net Income / (Loss) Continuing Operations		 300 249 394 313 253 242 393 305 261 231 357
Consolidated Net Income / (Loss)		 300 249 394 313 253 242 393 305 261 231 357
Depreciation Expense		 62 61 63 65 65 67 70 72 71 76 82
Non-Cash Adjustments To Reconcile Net Income		 92 94 120 91 -74 254 -240 104 105 92 -250
Changes in Operating Assets and Liabilities, net		 -330 -476 541 -310 -45 -620 813 -261 -341 -392 992
Net Cash From Investing Activities		 -96 -109 -126 -94 -98 -115 -76 -86 -474 -96 -276
Net Cash From Continuing Investing Activities		 -96 -109 -126 -94 -98 -115 -76 -86 -474 -96 -276
Purchase of Property, Plant & Equipment		 -95 -106 -124 -91 -95 -114 -74 -79 -77 -87 -192
Acquisitions		 - - - - - - - - - - -0.02
Sale and/or Maturity of Investments		 -1.37 -3.18 -1.29 -2.56 -2.53 -1.02 -2.52 -7.35 -9.78 -8.32 -14
Net Cash From Financing Activities		 -275 -87 -348 -308 -212 -64 -435 -382 165 52 -686
Net Cash From Continuing Financing Activities		 -275 -87 -348 -308 -212 -64 -435 -382 165 52 -686
Repayment of Debt		 - - - -3.95 -0.14 -0.07 -200 0.00 -333 -786 -1,064
Repurchase of Common Equity		 -275 -282 -155 -289 -212 -264 -238 -370 -109 -225 -197
Issuance of Debt		 - - - - - - - - - 1,048 573
Other Financing Activities, net		 0.12 -0.41 2.64 -14 0.11 -0.10 2.94 -12 14 15 2.32
Cash Income Taxes Paid		 186 78 61 5.06 228 84 69 7.02 245 74 55

Annual Balance Sheets for Ulta Beauty

This table presents Ulta Beauty's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/30/2016 1/28/2017 2/3/2018 2/2/2019 2/1/2020 1/30/2021 1/29/2022 1/28/2023 2/3/2024 2/1/2025 1/31/2026
Total Assets		 2,231 2,552 2,909 3,191 4,864 5,090 4,764 5,370 5,707 6,002 6,999
Total Current Assets		 1,375 1,536 1,694 1,915 2,055 2,515 2,281 2,709 2,837 3,029 3,144
Cash & Equivalents		 346 385 277 409 392 1,046 432 738 767 703 424
Short-Term Investments		 130 30 120 0.00 110 - - - - 0.00 70
Accounts Receivable		 65 89 100 136 139 193 234 199 208 223 296
Inventories, net		 762 944 1,096 1,214 1,294 1,168 1,499 1,603 1,742 1,968 2,181
Prepaid Expenses		 73 89 99 138 104 107 111 130 116 129 169
Current Deferred & Refundable Income Taxes		 - 0.00 1.49 17 16 0.00 5.91 38 4.25 4.95 3.20
Plant, Property, & Equipment, net		 848 1,004 1,189 1,226 1,206 996 914 1,009 1,182 1,239 1,434
Total Noncurrent Assets		 8.15 11 25 50 1,603 1,579 1,569 1,652 1,688 1,734 2,421
Goodwill		 - - 0.00 11 11 11 11 11 11 11 226
Intangible Assets		 - - 0.00 4.32 3.39 2.47 1.54 1.31 0.51 0.20 203
Employee Benefit Assets		 8.15 11 17 21 28 33 38 35 44 48 53
Other Noncurrent Operating Assets		 - 0.00 8.66 15 1,561 1,533 1,518 1,604 1,633 1,675 1,938
Total Liabilities & Shareholders' Equity		 2,231 2,552 2,909 3,191 4,864 5,090 4,764 5,370 5,707 6,002 6,999
Total Liabilities		 788 1,002 1,134 1,371 2,962 3,090 3,229 3,411 3,428 3,513 4,196
Total Current Liabilities		 396 529 642 824 1,137 1,344 1,558 1,682 1,658 1,779 2,224
Short-Term Debt		 - - - 0.00 240 253 274 283 284 0.00 62
Accounts Payable		 196 260 326 404 414 477 553 560 544 564 686
Accrued Expenses		 187 261 189 221 246 296 365 444 382 380 551
Current Deferred Revenue		 - - 113 199 238 274 354 395 437 501 582
Current Deferred & Payable Income Tax Liabilities		 13 8.97 14 - 0.00 43 13 0.00 11 47 36
Other Current Liabilities		 - - - - - - - - - 288 307
Total Noncurrent Liabilities		 392 472 492 547 1,825 1,747 1,671 1,729 1,769 1,734 1,972
Noncurrent Deferred & Payable Income Tax Liabilities		 60 86 59 84 89 65 40 55 86 43 99
Other Noncurrent Operating Liabilities		 10 20 25 28 36 38 59 54 56 1,691 1,873
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,443 1,550 1,774 1,820 1,902 2,000 1,535 1,960 2,279 2,488 2,803
Total Preferred & Common Equity		 1,443 1,550 1,774 1,820 1,902 2,000 1,535 1,960 2,279 2,488 2,803
Total Common Equity		 1,443 1,550 1,774 1,820 1,902 2,000 1,535 1,960 2,279 2,488 2,803
Common Stock		 622 659 700 739 808 848 935 1,025 1,076 1,121 1,183
Retained Earnings		 832 906 1,093 1,106 1,128 1,189 653 996 1,287 1,474 1,737
Treasury Stock		 -12 -15 -19 -25 -34 -38 -53 -60 -83 -107 -120
Accumulated Other Comprehensive Income / (Loss)		 - - - - 0.00 0.06 - - - 0.00 3.76

Quarterly Balance Sheets for Ulta Beauty

This table presents Ulta Beauty's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 1/28/2023 4/29/2023 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 5/3/2025 8/2/2025 11/1/2025
Total Assets		 5,370 5,376 5,249 5,595 5,707 5,632 5,737 5,958 5,987 6,631 7,012
Total Current Assets		 2,709 2,686 2,519 2,792 2,837 2,761 2,799 2,955 2,940 3,069 3,371
Cash & Equivalents		 738 636 389 122 767 525 414 178 455 243 205
Accounts Receivable		 199 190 174 203 208 203 201 214 225 224 237
Inventories, net		 1,603 1,751 1,816 2,321 1,742 1,906 1,998 2,365 2,122 2,407 2,744
Prepaid Expenses		 130 108 111 117 116 127 132 136 138 166 158
Current Deferred & Refundable Income Taxes		 38 0.00 30 29 4.25 0.00 54 63 0.00 29 26
Plant, Property, & Equipment, net		 1,009 1,020 1,073 1,118 1,182 1,196 1,226 1,264 1,251 1,333 1,367
Total Noncurrent Assets		 1,652 1,670 1,656 1,685 1,688 1,676 1,713 1,739 1,796 2,229 2,275
Goodwill		 11 11 11 11 11 11 11 11 11 393 393
Intangible Assets		 1.31 1.02 0.72 0.59 0.51 0.43 0.36 0.28 0.00 5.47 6.09
Employee Benefit Assets		 35 37 40 38 44 46 46 49 47 51 53
Other Noncurrent Operating Assets		 1,604 1,621 1,605 1,635 1,633 1,619 1,655 1,679 1,737 1,780 1,824
Total Liabilities & Shareholders' Equity		 5,370 5,376 5,249 5,595 5,707 5,632 5,737 5,958 5,987 6,631 7,012
Total Liabilities		 3,411 3,358 3,197 3,566 3,428 3,331 3,389 3,629 3,556 4,027 4,379
Total Current Liabilities		 1,682 1,634 1,491 1,837 1,658 1,573 1,591 1,816 1,764 2,201 2,538
Short-Term Debt		 283 288 287 195 0.00 285 0.00 200 286 289 552
Accounts Payable		 560 621 521 597 544 464 567 593 538 709 759
Accrued Expenses		 444 309 328 405 382 333 348 333 347 460 474
Current Deferred Revenue		 395 357 354 351 437 399 395 405 463 460 463
Current Deferred & Payable Income Tax Liabilities		 0.00 59 0.00 0.00 11 93 0.00 0.00 131 0.00 0.00
Other Current Liabilities		 - - - 288 284 - 281 285 - 283 291
Total Noncurrent Liabilities		 1,729 1,724 1,706 1,730 1,769 1,758 1,798 1,813 1,793 1,826 1,841
Noncurrent Deferred & Payable Income Tax Liabilities		 55 57 56 57 86 90 88 92 46 49 45
Other Noncurrent Operating Liabilities		 54 56 57 1,673 1,684 61 1,710 1,721 57 1,777 1,796
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,960 2,018 2,052 2,029 2,279 2,301 2,348 2,329 2,430 2,604 2,633
Total Preferred & Common Equity		 1,960 2,018 2,052 2,029 2,279 2,301 2,348 2,329 2,430 2,604 2,633
Total Common Equity		 1,960 2,018 2,052 2,029 2,279 2,301 2,348 2,329 2,430 2,604 2,633
Common Stock		 1,025 1,041 1,050 1,059 1,076 1,092 1,100 1,105 1,130 1,152 1,176
Retained Earnings		 996 1,059 1,084 1,052 1,287 1,315 1,355 1,330 1,420 1,572 1,578
Treasury Stock		 -60 -82 -82 -83 -83 -106 -106 -107 -120 -120 -120

Annual Metrics And Ratios for Ulta Beauty

This table displays calculated financial ratios and metrics derived from Ulta Beauty's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/30/2016 1/28/2017 2/3/2018 2/2/2019 2/1/2020 1/30/2021 1/29/2022 1/28/2023 2/3/2024 2/1/2025 1/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 44,362,172.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 44,362,172.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 26.00
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 319 409 554 655 702 180 987 1,239 1,278 1,190 1,159
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - 26.97% 40.43%
Earnings before Interest and Taxes (EBIT)		 506 655 785 854 901 237 1,297 1,639 1,678 1,565 1,533
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 671 865 1,038 1,134 1,197 535 1,566 1,880 1,922 1,832 1,834
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -64 241 313 620 -1,225 668 887 1,064 979 905 572
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 967 1,135 1,377 1,411 3,338 2,850 2,951 3,125 3,424 3,708 2,371
Increase / (Decrease) in Invested Capital		 383 168 242 34 1,927 -488 100 175 299 285 586
Book Value per Share		 $22.65 $24.91 $29.09 $30.69 $33.28 $35.49 $28.37 $38.52 $46.94 $53.66 $63.19
Tangible Book Value per Share		 $22.65 $24.91 $29.09 $30.43 $33.03 $35.25 $28.14 $38.28 $46.70 $53.42 $53.51
Total Capital		 1,443 1,550 1,774 1,820 3,840 3,896 3,382 3,863 4,190 4,412 2,866
Total Debt		 0.00 0.00 0.00 0.00 1,938 1,897 1,847 1,903 1,911 1,923 62
Total Long-Term Debt		 0.00 0.00 0.00 0.00 1,699 1,643 1,573 1,620 1,627 1,635 0.00
Net Debt		 -476 -415 -397 -409 1,436 851 1,415 1,165 1,144 1,220 -432
Capital Expenditures (CapEx)		 299 373 441 319 299 152 172 312 435 374 435
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 503 592 654 682 655 378 566 573 696 834 488
Debt-free Net Working Capital (DFNWC)		 979 1,007 1,052 1,091 1,158 1,424 997 1,311 1,462 1,537 982
Net Working Capital (NWC)		 979 1,007 1,052 1,091 918 1,171 723 1,028 1,178 1,249 920
Net Nonoperating Expense (NNE)		 -0.72 -0.56 -1.11 -3.88 -3.94 4.36 1.27 -3.73 -13 -11 5.21
Net Nonoperating Obligations (NNO)		 -476 -415 -397 -409 1,436 851 1,415 1,165 1,144 1,220 -432
Total Depreciation and Amortization (D&A)		 165 210 253 279 296 298 268 241 244 267 301
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.00 $0.00 $0.00 $0.00 $12.21 $0.00 $18.09 $24.17 $26.18 $25.44 $25.72
Adjusted Weighted Average Basic Shares Outstanding		 64.34M 0.00 0.00 0.00 57.84M 0.00 54.48M 51.40M 49.30M 47.21M 44.84M
Adjusted Diluted Earnings per Share		 $3.98 $0.00 $0.00 $0.00 $12.15 $0.00 $17.98 $24.01 $26.03 $25.34 $25.64
Adjusted Weighted Average Diluted Shares Outstanding		 64.65M 0.00 0.00 0.00 58.11M 0.00 54.84M 51.74M 49.60M 47.40M 44.99M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 64.23M 0.00 0.00 0.00 56.31M 0.00 52.33M 50.20M 48.27M 45.31M 43.74M
Normalized Net Operating Profit after Tax (NOPAT)		 329 421 571 670 717 279 994 1,247 1,284 1,200 1,171
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Ulta Beauty

This table displays calculated financial ratios and metrics derived from Ulta Beauty's official financial filings.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/29/2023 10/28/2023 2/3/2024 5/4/2024 8/3/2024 11/2/2024 2/1/2025 5/3/2025 8/2/2025 11/1/2025 1/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 44,362,172.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 44,362,172.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 8.04
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 297 248 392 308 249 241 392 303 260 235 360
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - 8.88% 6.88% 9.00% 7.38% 12.57%
Earnings before Interest and Taxes (EBIT)		 392 327 517 401 329 319 516 402 345 309 477
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 454 389 580 466 395 386 586 474 416 385 559
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -55 -183 93 -81 -70 -1,949 107 21 -456 -394 -226
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,544 2,102 3,424 3,669 3,863 4,292 3,708 3,951 2,650 2,980 2,371
Increase / (Decrease) in Invested Capital		 352 431 299 389 320 2,190 285 282 716 629 586
Book Value per Share		 $41.20 $41.21 $46.94 $47.67 $49.21 $49.43 $53.66 $53.64 $57.93 $58.72 $63.19
Tangible Book Value per Share		 $40.97 $40.97 $46.70 $47.43 $48.98 $49.20 $53.42 $53.40 $49.08 $49.83 $53.51
Total Capital		 3,932 2,224 4,190 4,194 4,277 4,470 4,412 4,406 2,893 3,185 2,866
Total Debt		 1,880 195 1,911 1,893 1,929 2,141 1,923 1,975 289 552 62
Total Long-Term Debt		 1,593 0.00 1,627 1,608 1,648 1,656 1,635 1,689 0.00 0.00 0.00
Net Debt		 1,492 74 1,144 1,368 1,515 1,963 1,220 1,521 46 347 -432
Capital Expenditures (CapEx)		 95 106 124 91 95 114 74 79 77 87 192
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 927 1,029 696 948 1,075 1,445 834 1,007 915 1,179 488
Debt-free Net Working Capital (DFNWC)		 1,315 1,151 1,462 1,473 1,489 1,623 1,537 1,462 1,157 1,384 982
Net Working Capital (NWC)		 1,028 955 1,178 1,188 1,208 1,138 1,249 1,176 868 832 920
Net Nonoperating Expense (NNE)		 -3.37 -1.89 -2.52 -5.30 -3.43 -1.27 -1.51 -2.05 -0.47 4.12 3.63
Net Nonoperating Obligations (NNO)		 1,492 74 1,144 1,368 1,515 1,963 1,220 1,521 46 347 -432
Total Depreciation and Amortization (D&A)		 62 61 63 65 65 67 70 72 71 76 82
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $6.05 $5.09 $8.12 $6.51 $5.32 $5.16 $8.45 $6.72 $5.80 $5.16 $8.04
Adjusted Weighted Average Basic Shares Outstanding		 49.62M 49.01M 49.30M 48.13M 47.51M 46.93M 47.21M 45.36M 44.96M 44.73M 44.84M
Adjusted Diluted Earnings per Share		 $6.02 $5.07 $8.06 $6.47 $5.30 $5.14 $8.43 $6.70 $5.78 $5.14 $8.02
Adjusted Weighted Average Diluted Shares Outstanding		 49.85M 49.23M 49.60M 48.38M 47.67M 47.09M 47.40M 45.51M 45.11M 44.90M 44.99M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 49.23M 48.56M 48.27M 47.72M 47.11M 46.37M 45.31M 44.95M 44.84M 44.36M 43.74M
Normalized Net Operating Profit after Tax (NOPAT)		 298 250 394 310 252 245 393 304 264 239 363
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Ulta Beauty's quarterly statements over the last four years, focused on trends that may matter to investors.

  • Revenue growth: Q4 2025 operating revenue was about $3.898B, up from about $3.226B in Q4 2022, indicating a multi-year top-line expansion.
  • Gross margin stability: Q4 2025 gross profit was about $1.483B on $3.898B in revenue, a margin near 38%, consistent with recent years and signaling stable profitability.
  • Cash flow strength: Net cash from continuing operating activities in Q4 2025 was about $1.18B, underscoring solid operating cash generation.
  • Free cash flow potential: CFO around $1.18B minus capex of about $191.6M in Q4 2025 implies roughly $0.99B of quarterly free cash flow, supporting liquidity and potential investor returns.
  • Share repurchases: Ulta has been actively returning capital in 2025, with buybacks across Q1–Q4 2025 totaling roughly $0.9B (Q1: $369.8M; Q2: $109.5M; Q3: $224.7M; Q4: $197.4M).
  • Balance sheet expansion: Total assets rose to about $7.01B by Q3 2025, with total equity around $2.63B, suggesting a stronger capitalization base.
  • Capex discipline: 2025 capex (PPE purchases) ranged roughly from $77M to $192M per quarter, indicating ongoing reinvestment rather than cash hoarding.
  • Net income pressure: Q4 2025 net income attributable to common shareholders was about $356.7M, down from about $393.3M in Q4 2024, suggesting quarterly earnings pressure despite higher revenue.
  • Cost pressure: Selling, general and administrative expenses rose to about $1.003B in Q4 2025 from about $0.816B in Q4 2024, contributing to margin compression.
  • Rising leverage and liquidity questions: Short-term debt grew to about $289.1M in Q2 2025 and $551.7M in Q3 2025, and cash balances fell markedly through mid-2025 (cash and equivalents declined from roughly $2.94B in Q1 2025 to about $205M by Q3 2025), highlighting higher leverage and tighter liquidity.
05/06/26 01:33 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Ulta Beauty's Financials

When does Ulta Beauty's fiscal year end?

According to the most recent income statement we have on file, Ulta Beauty's financial year ends in January. Their financial year 2026 ended on January 31, 2026.

How has Ulta Beauty's net income changed over the last 10 years?

Ulta Beauty's net income appears to be on an upward trend, with a most recent value of $1.15 billion in 2025, rising from $320.01 million in 2015. The previous period was $1.20 billion in 2024. See Ulta Beauty's forecast for analyst expectations on what’s next for the company.

What is Ulta Beauty's operating income?
Ulta Beauty's total operating income in 2025 was $1.53 billion, based on the following breakdown:
  • Total Gross Profit: $4.85 billion
  • Total Operating Expenses: $3.31 billion
How has Ulta Beauty's revenue changed over the last 10 years?

Over the last 10 years, Ulta Beauty's total revenue changed from $3.92 billion in 2015 to $12.39 billion in 2025, a change of 215.8%.

How much debt does Ulta Beauty have?

Ulta Beauty's total liabilities were at $4.20 billion at the end of 2025, a 19.4% increase from 2024, and a 432.4% increase since 2015.

How much cash does Ulta Beauty have?

In the past 10 years, Ulta Beauty's cash and equivalents has ranged from $277.45 million in 2017 to $1.05 billion in 2020, and is currently $424.24 million as of their latest financial filing in 2025.

How has Ulta Beauty's book value per share changed over the last 10 years?

Over the last 10 years, Ulta Beauty's book value per share changed from 22.65 in 2015 to 63.19 in 2025, a change of 179.0%.


Related Companies

Financial statements for NASDAQ:ULTA last updated on 3/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners
Satellite Images Spot Potential $10 Trillion Discovery
'Dark Energy': Elon Musk's Next Potential $10 Trillion Move A highly secure site in West Texas now houses a...
Altimetry | Sponsoredtc pixel
Your book attached
Your Download Link (Expiring) If you still haven't downloaded the free Simple Options Trading For Beginners...
Profits Run | Sponsoredtc pixel
SpaceX eyes a 1.75 trillion valuation - here's what to know
Elon Musk's team has quietly filed confidential paperwork with the SEC for what Bloomberg estimates could be a...
Brownstone Research | Sponsoredtc pixel
I’m sounding the alarm
Meta is cutting 10% of its workforce. Microsoft offered voluntary retirement to 7% of U.S. employees. Oracle, ...
Porter & Company | Sponsoredtc pixel
Trump and Elon are BACK
15X Bigger Than SpaceX: Elon's New Launch While the rest of the market goes crazy for "the mother of all IP...
InvestorPlace | Sponsoredtc pixel
PH: Do THESE 4 things to your bank account now …
In a few short months, the US government could gain unprecedented powers over personal bank accounts - includi...
Weiss Ratings | Sponsoredtc pixel
"Computers are about to become obsolete" - George Gilder. Here’s why.
George Gilder called Amazon, Apple, and Netflix before they became household names - turning $10,000 investmen...
Eagle Publishing | Sponsoredtc pixel
Where the SpaceX "Tidal Wave" hits first
The SpaceX and xAI IPO could trigger one of the largest capital shifts in market history — $1.75 trillion movi...
Behind the Markets | Sponsoredtc pixel