InsiderClue
Stocks · Consumer discretionary · Retail-Retail Stores, NEC

Ulta Beauty

ULTA Clue Score55
United States Fiscal year ends January CIK 0001403568
$570.37 +1.09% Close, 9 Oct 2026
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Price $570.37 +49.75% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue4.85Operating income0.65Net income0.41EPS, diluted6.52Fiscal year 2018Revenue5.88 +21.2%Operating income0.79Net income0.56 +35.5%EPS, diluted8.96 +37.4%Fiscal year 2019Revenue6.72 +14.1%Operating income0.85Net income0.66 +18.6%EPS, diluted10.94 +22.1%Fiscal year 2020Revenue7.40 +10.1%Operating income0.90Net income0.71 +7.2%EPS, diluted12.15 +11.1%Fiscal year 2021Revenue6.15 −16.8%Operating income0.24Net income0.18 −75.1%EPS, diluted3.11 −74.4%Fiscal year 2022Revenue8.63 +40.3%Operating income1.30Net income0.99 +460.7%EPS, diluted17.98 +478.1%Fiscal year 2023Revenue10.21 +18.3%Operating income1.64Net income1.24 +26.0%EPS, diluted24.01 +33.5%Fiscal year 2024Revenue11.21 +9.8%Operating income1.68Net income1.29 +3.9%EPS, diluted26.03 +8.4%Fiscal year 2025Revenue11.30 +0.8%Operating income1.56Net income1.20 −7.0%EPS, diluted25.34 −2.7%Fiscal year 2026Revenue12.39 +9.7%Operating income1.53Net income1.15 −4.0%EPS, diluted25.64 +1.2%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 4.85 5.88 6.72 7.40 6.15 8.63 10.21 11.21 11.30 12.39
Growth +21.2% +14.1% +10.1% −16.8% +40.3% +18.3% +9.8% +0.8% +9.7%
Operating income 0.65 0.79 0.85 0.90 0.24 1.30 1.64 1.68 1.56 1.53
Net income 0.41 0.56 0.66 0.71 0.18 0.99 1.24 1.29 1.20 1.15
Growth +35.5% +18.6% +7.2% −75.1% +460.7% +26.0% +3.9% −7.0% −4.0%
EPS, diluted 6.52 8.96 10.94 12.15 3.11 17.98 24.01 26.03 25.34 25.64
Growth +37.4% +22.1% +11.1% −74.4% +478.1% +33.5% +8.4% −2.7% +1.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin36.0%Operating margin13.5%Net margin8.4%Free cash flow margin5.4%Fiscal year 2018Gross margin35.6%Operating margin13.3%Net margin9.4%Free cash flow margin5.8%Fiscal year 2019Gross margin35.9%Operating margin12.7%Net margin9.8%Free cash flow margin9.5%Fiscal year 2020Gross margin36.2%Operating margin12.2%Net margin9.5%Free cash flow margin10.9%Fiscal year 2021Gross margin31.7%Operating margin3.8%Net margin2.9%Free cash flow margin10.7%Fiscal year 2022Gross margin39.0%Operating margin15.0%Net margin11.4%Free cash flow margin10.3%Fiscal year 2023Gross margin39.6%Operating margin16.1%Net margin12.2%Free cash flow margin11.5%Fiscal year 2024Gross margin39.1%Operating margin15.0%Net margin11.5%Free cash flow margin9.3%Fiscal year 2025Gross margin38.8%Operating margin13.9%Net margin10.6%Free cash flow margin8.5%Fiscal year 2026Gross margin39.1%Operating margin12.4%Net margin9.3%Free cash flow margin8.6%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 36.0% 35.6% 35.9% 36.2% 31.7% 39.0% 39.6% 39.1% 38.8% 39.1%
Operating margin 13.5% 13.3% 12.7% 12.2% 3.8% 15.0% 16.1% 15.0% 13.9% 12.4%
Net margin 8.4% 9.4% 9.8% 9.5% 2.9% 11.4% 12.2% 11.5% 10.6% 9.3%
Free cash flow margin 5.4% 5.8% 9.5% 10.9% 10.7% 10.3% 11.5% 9.3% 8.5% 8.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow0.63Capital expenditure−0.37Free cash flow0.26Buybacks−0.34Fiscal year 2018Operating cash flow0.78Capital expenditure−0.44Free cash flow0.34 +29.8%Buybacks−0.37Fiscal year 2019Operating cash flow0.96Capital expenditure−0.32Free cash flow0.64 +88.0%Buybacks−0.62Fiscal year 2020Operating cash flow1.10Capital expenditure−0.30Free cash flow0.80 +26.1%Buybacks−0.68Fiscal year 2021Operating cash flow0.81Capital expenditure−0.15Free cash flow0.66 −18.0%Buybacks−0.11Fiscal year 2022Operating cash flow1.06Capital expenditure−0.17Free cash flow0.89 +34.7%Buybacks−1.52Fiscal year 2023Operating cash flow1.48Capital expenditure−0.31Free cash flow1.17 +31.9%Buybacks−0.90Fiscal year 2024Operating cash flow1.48Capital expenditure−0.44Free cash flow1.04 −11.0%Buybacks−1.00Fiscal year 2025Operating cash flow1.34Capital expenditure−0.37Free cash flow0.96 −7.4%Buybacks−1.00Fiscal year 2026Operating cash flow1.50Capital expenditure−0.43Free cash flow1.07 +10.8%Buybacks−0.90
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 0.63 0.78 0.96 1.10 0.81 1.06 1.48 1.48 1.34 1.50
Capital expenditure −0.37 −0.44 −0.32 −0.30 −0.15 −0.17 −0.31 −0.44 −0.37 −0.43
Free cash flow 0.26 0.34 0.64 0.80 0.66 0.89 1.17 1.04 0.96 1.07
Growth +29.8% +88.0% +26.1% −18.0% +34.7% +31.9% −11.0% −7.4% +10.8%
Buybacks −0.34 −0.37 −0.62 −0.68 −0.11 −1.52 −0.90 −1.00 −1.00 −0.90

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2017Cash0.39Shareholders’ equity1.55Fiscal year 2018Cash0.28Shareholders’ equity1.77Fiscal year 2019Cash0.41Shareholders’ equity1.82Fiscal year 2020Cash0.39Shareholders’ equity1.90Fiscal year 2021Cash1.05Shareholders’ equity2.00Fiscal year 2022Cash0.43Shareholders’ equity1.54Fiscal year 2023Cash0.74Shareholders’ equity1.96Fiscal year 2024Cash0.77Shareholders’ equity2.28Fiscal year 2025Cash0.70Shareholders’ equity2.49Fiscal year 2026Cash0.42Shareholders’ equity2.80
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 0.39 0.28 0.41 0.39 1.05 0.43 0.74 0.77 0.70 0.42
Shareholders’ equity 1.55 1.77 1.82 1.90 2.00 1.54 1.96 2.28 2.49 2.80

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Cash flow

In billions of USD, except per-share figures; shares in millions. Fiscal years ending January, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 28 Jan 2017 FY2018 3 Feb 2018 FY2019 2 Feb 2019 FY2020 1 Feb 2020 FY2021 30 Jan 2021 FY2022 29 Jan 2022 FY2023 28 Jan 2023 FY2024 3 Feb 2024 FY2025 1 Feb 2025 FY2026 31 Jan 2026
Operations
0.63 0.78 0.96 1.10 0.81 1.06 1.48 1.48 1.34 1.50
Growth +22.9% +22.7% +15.2% −26.4% +30.7% +39.9% −0.4% −9.3% +12.3%
0.21 0.25 0.28 0.30 0.30 0.27 0.24 0.24 0.27 0.30
Investment
−0.37 −0.44 −0.32 −0.30 −0.15 −0.17 −0.31 −0.44 −0.37 −0.43
calc 0.26 0.34 0.64 0.80 0.66 0.89 1.17 1.04 0.96 1.07
Growth +29.8% +88.0% +26.1% −18.0% +34.7% +31.9% −11.0% −7.4% +10.8%
calc 4.15 5.46 10.58 13.82 11.64 16.18 22.61 20.99 20.34 23.74
−0.27 −0.53 −0.22 −0.47 −0.05 −0.18 −0.31 −0.44 −0.38 −0.93
Financing
−0.32 −0.36 −0.61 −0.65 −0.11 −1.50 −0.86 −1.01 −1.02 −0.85
−0.34 −0.37 −0.62 −0.68 −0.11 −1.52 −0.90 −1.00 −1.00 −0.90

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.