ULTA BEAUTY, INC. (ULTA)

517.50 -4.18% (-22.60)

Over 5Y: +32.7%

2026-08-28
400 600
2021 2022 2023 2024 2025 2026

Financials Quarterly

Q2 '22 — Revenue: 2B Q2 '22 — Operating Cash Flow: 71.3M Q2 '22 — Free Cash Flow: 48.6M Q2 '22 — Net Income: 250.9M Q3 '22 — Revenue: 2B Q3 '22 — Operating Cash Flow: 13.4M Q3 '22 — Free Cash Flow: -37.7M Q3 '22 — Net Income: 215.3M Q4 '22 — Revenue: 2.7B Q4 '22 — Operating Cash Flow: 644.4M Q4 '22 — Free Cash Flow: 580.6M Q4 '22 — Net Income: 289.4M Q1 '23 — Revenue: 2.3B Q1 '23 — Operating Cash Flow: 426.3M Q1 '23 — Free Cash Flow: 355.2M Q1 '23 — Net Income: 331.4M Q2 '23 — Revenue: 2.3B Q2 '23 — Operating Cash Flow: 114.4M Q2 '23 — Free Cash Flow: 64.9M Q2 '23 — Net Income: 295.7M Q3 '23 — Revenue: 2.3B Q3 '23 — Operating Cash Flow: 32.8M Q3 '23 — Free Cash Flow: -50.7M Q3 '23 — Net Income: 274.6M Q4 '23 — Revenue: 3.2B Q4 '23 — Operating Cash Flow: 908.5M Q4 '23 — Free Cash Flow: 800.3M Q4 '23 — Net Income: 340.8M Q1 '24 — Revenue: 2.6B Q1 '24 — Operating Cash Flow: 304.9M Q1 '24 — Free Cash Flow: 195.1M Q1 '24 — Net Income: 347.1M Q2 '24 — Revenue: 2.5B Q2 '24 — Operating Cash Flow: 123.9M Q2 '24 — Free Cash Flow: 28.9M Q2 '24 — Net Income: 300.1M Q3 '24 — Revenue: 2.5B Q3 '24 — Operating Cash Flow: -70.8M Q3 '24 — Free Cash Flow: -177.1M Q3 '24 — Net Income: 249.5M Q1 '25 — Revenue: 3.6B Q1 '25 — Operating Cash Flow: 1.1B Q1 '25 — Free Cash Flow: 994M Q1 '25 — Net Income: 394.4M Q2 '25 — Revenue: 2.7B Q2 '25 — Operating Cash Flow: 159.3M Q2 '25 — Free Cash Flow: 68.3M Q2 '25 — Net Income: 313.1M Q3 '25 — Revenue: 2.6B Q3 '25 — Operating Cash Flow: 199.5M Q3 '25 — Free Cash Flow: 104.3M Q3 '25 — Net Income: 252.6M Q4 '25 — Revenue: 2.5B Q4 '25 — Operating Cash Flow: -56.8M Q4 '25 — Free Cash Flow: -171.1M Q4 '25 — Net Income: 242.2M Q1 '26 — Revenue: 3.5B Q1 '26 — Operating Cash Flow: 1B Q1 '26 — Free Cash Flow: 962.6M Q1 '26 — Net Income: 393.3M Q2 '26 — Revenue: 2.8B Q2 '26 — Operating Cash Flow: 220M Q2 '26 — Free Cash Flow: 141M Q2 '26 — Net Income: 305.1M Q3 '26 — Revenue: 2.8B Q3 '26 — Operating Cash Flow: 96.5M Q3 '26 — Free Cash Flow: 19.6M Q3 '26 — Net Income: 260.9M Q4 '26 — Revenue: 2.9B Q4 '26 — Operating Cash Flow: 5.6M Q4 '26 — Free Cash Flow: -81.6M Q4 '26 — Net Income: 230.9M Q4 '26 — Revenue: 3.9B Q4 '26 — Operating Cash Flow: 1.2B Q4 '26 — Free Cash Flow: 989M Q4 '26 — Net Income: 356.7M Q2 '27 — Revenue: 3.2B Q2 '27 — Operating Cash Flow: 261.9M Q2 '27 — Free Cash Flow: 203.6M Q2 '27 — Net Income: 340.5M 0 900M 1.8B 2.7B 3.6B 4.5B
Q3 '22 Q2 '23 Q1 '24 Q1 '25 Q4 '25 Q3 '26 Q2 '27
Revenue Operating Cash Flow Free Cash Flow Net Income

Figures as at 2026-05-02, reported in USD. The newest fact in the filings is dated 2026-05-02, 120 days ago. Nothing on this page is advice.

How it scores

Five questions, each answered by the measures under it. Every figure is the company's own; the bar beside it is where that figure sits among the companies read here — the top fifth, the bottom fifth, or somewhere between. Not among all listed companies, and for a valuation multiple the low end is the good end.

Quality

How much of the revenue is really kept — and what did it take to earn it?

6.0
SBC / sales 0.29%
ROIC 52.9%
Oper. margin 12.4%
OE margin 8.6%
Accruals -5.2%
ROA 17.2%
ROCE 34.4%
ROE 46.1%
FCF margin 8.9%
Gross margin 39.3%
OCF margin 12.2%
OCF / EBIT 0.98×

5 of 17 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Valuation

What does the price ask for what the company earns, owns and pays out?

0.5
Div. yield —
EV/EBIT —
EV/GP —
EV/OE —
EV/Sales —
FCF yield —
Fwd P/E —
P/B —
P/C —
P/E —
PEG —

0 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Durability

How predictable is the revenue, and how much of it is already committed?

5.6
RPO / sales 0.043×
RPO growth —
Segment HHI —

4 of 7 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Resilience

Can the balance sheet absorb a bad year?

7.7
Interest cover 163.3×
ND/EBITDA —
Debt / Eq 0.0×
Debt payback 0.0 yr
Payout 0.0%
Quick ratio 1.3×
F-score 5.6 pts
Cash / Debt —
Cash runway —

3 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Growth

Is the business getting bigger, and is it getting more profitable?

2.9
Sales/sh Y/Y +17.3%
EPS CAGR 4Y +9.3%
EPS Y/Y +5.0%
Sales Q/Q +11.1%
EBIT CAGR -1.1%
EBIT Y/Y +0.87%
Div. growth —
EPS next Y —

4 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

A measure absent from a block could not be computed from this company's filings. It is left out rather than scored as though it were bad, and the dimension is averaged over what remains. A score is measured against a fixed scale this model states; the bar is measured against the other companies, so the two can disagree — and where they do, that disagreement is the more interesting figure.