Ulta Beauty (ULTA) Financials

$361.46 +6.51 (+1.83%)

Closing price 04/11/2025 04:00 PM Eastern

Extended Trading

$361.98 +0.53 (+0.15%)

As of 04/11/2025 07:49 PM Eastern

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
Net Income / (Loss) Attributable to Common Shareholders	320	410	555	659	706	176	986	1,242	1,291	1,201
Consolidated Net Income / (Loss)	320	410	555	659	706	176	986	1,242	1,291	1,201
Net Income / (Loss) Continuing Operations	320	410	555	659	706	176	986	1,242	1,291	1,201
Total Pre-Tax Income	507	656	787	859	906	231	1,296	1,644	1,696	1,580
Total Operating Income	506	655	785	854	901	237	1,297	1,639	1,678	1,565
Total Gross Profit	1,384	1,747	2,097	2,409	2,681	1,949	3,369	4,045	4,381	4,387
Total Revenue	3,924	4,855	5,885	6,717	7,398	6,152	8,631	10,209	11,207	11,296
Operating Revenue	3,924	4,855	5,885	6,717	7,398	6,152	8,631	10,209	11,207	11,296
Total Cost of Revenue	2,540	3,108	3,788	4,307	4,717	4,203	5,262	6,164	6,826	6,908
Operating Cost of Revenue	2,540	3,108	3,788	4,307	4,717	4,203	5,262	6,164	6,826	6,908
Total Operating Expenses	878	1,092	1,312	1,555	1,780	1,712	2,071	2,406	2,703	2,822
Selling, General & Admin Expense	863	1,074	1,287	1,535	1,761	1,583	2,062	2,395	2,695	2,809
Other Special Charges / (Income)	15	19	24	20	19	15	9.52	11	8.51	14
Total Other Income / (Expense), net	1.14	0.89	1.57	5.06	5.06	-5.74	-1.66	4.93	18	15
Interest & Investment Income	-	0.89	1.57	5.06	5.06	-5.74	-1.66	4.93	18	15
Income Tax Expense	187	246	232	201	200	55	310	401	405	379
Basic Earnings per Share	$5.00	$6.55	$9.02	$11.00	$12.21	$3.12	$18.09	$24.17	$26.18	$25.44
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
Diluted Earnings per Share	$4.98	$6.52	$8.96	$10.94	$12.15	$3.11	$17.98	$24.01	$26.03	$25.34
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
Weighted Average Basic & Diluted Shares Outstanding	64M	62.60M	60.61M	58.80M	56.31M	56.21M	52.33M	50.20M	48.27M	45.31M

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	275	341	347	300	249	394	313	253	242	393
Consolidated Net Income / (Loss)	275	341	347	300	249	394	313	253	242	393
Net Income / (Loss) Continuing Operations	275	341	347	300	249	394	313	253	242	393
Total Pre-Tax Income	363	452	449	396	330	520	408	334	320	518
Total Operating Income	362	448	442	392	327	517	401	329	319	516
Total Gross Profit	963	1,213	1,055	994	992	1,341	1,070	978	1,006	1,334
Total Revenue	2,339	3,227	2,634	2,530	2,489	3,554	2,726	2,552	2,530	3,488
Operating Revenue	2,339	3,227	2,634	2,530	2,489	3,554	2,726	2,552	2,530	3,488
Total Cost of Revenue	1,376	2,014	1,579	1,536	1,497	2,214	1,656	1,574	1,524	2,154
Operating Cost of Revenue	1,376	2,014	1,579	1,536	1,497	2,214	1,656	1,574	1,524	2,154
Total Operating Expenses	601	765	613	602	665	823	669	649	687	817
Selling, General & Admin Expense	597	763	612	601	661	820	666	645	682	816
Other Special Charges / (Income)	3.80	2.18	0.66	1.28	3.46	3.11	2.92	4.16	4.88	1.73
Total Other Income / (Expense), net	0.85	4.38	7.35	4.45	2.50	3.33	6.90	4.53	1.67	1.99
Interest & Investment Income	0.85	4.38	7.35	4.45	2.50	3.33	6.90	4.53	1.67	1.99
Income Tax Expense	88	111	102	96	80	126	95	81	78	125
Basic Earnings per Share	$5.37	$6.73	$6.92	$6.05	$5.09	$8.12	$6.51	$5.32	$5.16	$8.45
Weighted Average Basic Shares Outstanding	51.13M	51.40M	50.15M	49.62M	49.01M	49.30M	48.13M	47.51M	46.93M	47.21M
Diluted Earnings per Share	$5.34	$6.67	$6.88	$6.02	$5.07	$8.06	$6.47	$5.30	$5.14	$8.43
Weighted Average Diluted Shares Outstanding	51.42M	51.74M	50.47M	49.85M	49.23M	49.60M	48.38M	47.67M	47.09M	47.40M
Weighted Average Basic & Diluted Shares Outstanding	50.88M	50.20M	49.80M	49.23M	48.56M	48.27M	47.72M	47.11M	46.37M	45.31M

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
Net Change in Cash & Equivalents	-43	39	-108	132	-17	654	-614	306	29	-63
Net Cash From Operating Activities	376	634	779	956	1,101	810	1,059	1,482	1,476	1,339
Net Cash From Continuing Operating Activities	376	634	779	956	1,101	810	1,059	1,482	1,476	1,339
Net Income / (Loss) Continuing Operations	320	410	555	659	706	176	986	1,242	1,291	1,201
Consolidated Net Income / (Loss)	320	410	555	659	706	176	986	1,242	1,291	1,201
Depreciation Expense	165	210	253	279	296	298	268	241	244	267
Non-Cash Adjustments To Reconcile Net Income	9.79	19	32	30	310	375	329	352	392	31
Changes in Operating Assets and Liabilities, net	-119	-5.10	-60	-11	-210	-38	-524	-354	-451	-161
Net Cash From Investing Activities	-279	-273	-531	-215	-471	-49	-176	-315	-441	-383
Net Cash From Continuing Investing Activities	-279	-273	-531	-215	-471	-49	-176	-315	-441	-383
Purchase of Property, Plant & Equipment	-299	-373	-441	-319	-299	-152	-172	-312	-435	-374
Sale and/or Maturity of Investments	150	190	240	506	-63	104	-4.30	-2.46	-6.16	-8.63
Net Cash From Financing Activities	-140	-322	-356	-609	-647	-108	-1,497	-861	-1,006	-1,019
Net Cash From Continuing Financing Activities	-140	-322	-356	-609	-647	-108	-1,497	-861	-1,006	-1,019
Repayment of Debt	0.00	0.00	-0.58	0.00	0.00	-802	0.00	0.00	-195	-204
Repurchase of Common Equity	-167	-344	-368	-616	-681	-115	-1,522	-900	-996	-1,003
Issuance of Debt	-	-	-	0.00	0.00	800	0.00	0.00	195	200
Other Financing Activities, net	27	23	12	6.98	34	8.88	25	39	-10	-11
Cash Interest Paid	-	-	-	0.00	0.00	6.99	2.13	2.14	3.33	4.16
Cash Income Taxes Paid	179	213	255	196	134	19	371	430	328	386

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-184	487	-101	-248	-267	645	-242	-111	-236	525
Net Cash From Operating Activities	33	908	305	124	-71	1,118	159	200	-57	1,037
Net Cash From Continuing Operating Activities	33	908	305	124	-71	1,118	159	200	-57	1,037
Net Income / (Loss) Continuing Operations	275	341	347	300	249	394	313	253	242	393
Consolidated Net Income / (Loss)	275	341	347	300	249	394	313	253	242	393
Depreciation Expense	58	59	58	62	61	63	65	65	67	70
Non-Cash Adjustments To Reconcile Net Income	88	93	87	92	94	120	91	-74	254	-240
Changes in Operating Assets and Liabilities, net	-388	416	-187	-330	-476	541	-310	-45	-620	813
Net Cash From Investing Activities	-85	-108	-110	-96	-109	-126	-94	-98	-115	-76
Net Cash From Continuing Investing Activities	-85	-108	-110	-96	-109	-126	-94	-98	-115	-76
Purchase of Property, Plant & Equipment	-83	-108	-110	-95	-106	-124	-91	-95	-114	-74
Sale and/or Maturity of Investments	-1.82	0.61	-0.31	-1.37	-3.18	-1.29	-2.56	-2.53	-1.02	-2.52
Net Cash From Financing Activities	-131	-314	-296	-275	-87	-348	-308	-212	-64	-435
Net Cash From Continuing Financing Activities	-131	-314	-296	-275	-87	-348	-308	-212	-64	-435
Repayment of Debt	-	-	0.00	-	-	-	-3.95	-0.14	-0.07	-200
Repurchase of Common Equity	-137	-328	-284	-275	-282	-155	-289	-212	-264	-238
Other Financing Activities, net	6.38	14	-13	0.12	-0.41	2.64	-14	0.11	-0.10	2.94
Cash Income Taxes Paid	93	91	2.82	186	78	61	5.06	228	84	69

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
Total Assets	2,231	2,552	2,909	3,191	4,864	5,090	4,764	5,370	5,707	6,002
Total Current Assets	1,375	1,536	1,694	1,915	2,055	2,515	2,281	2,709	2,837	3,029
Cash & Equivalents	346	385	277	409	392	1,046	432	738	767	703
Accounts Receivable	65	89	100	136	139	193	234	199	208	223
Inventories, net	762	944	1,096	1,214	1,294	1,168	1,499	1,603	1,742	1,968
Prepaid Expenses	73	89	99	138	104	107	111	130	116	129
Current Deferred & Refundable Income Taxes	-	0.00	1.49	17	16	0.00	5.91	38	4.25	4.95
Plant, Property, & Equipment, net	848	1,004	1,189	1,226	1,206	996	914	1,009	1,182	1,239
Total Noncurrent Assets	8.15	11	25	50	1,603	1,579	1,569	1,652	1,688	1,734
Goodwill	-	-	0.00	11	11	11	11	11	11	11
Intangible Assets	-	-	0.00	4.32	3.39	2.47	1.54	1.31	0.51	0.20
Employee Benefit Assets	8.15	11	17	21	28	33	38	35	44	48
Other Noncurrent Operating Assets	-	0.00	8.66	15	1,561	1,533	1,518	1,604	1,633	1,675
Total Liabilities & Shareholders' Equity	2,231	2,552	2,909	3,191	4,864	5,090	4,764	5,370	5,707	6,002
Total Liabilities	788	1,002	1,134	1,371	2,962	3,090	3,229	3,411	3,428	3,513
Total Current Liabilities	396	529	642	824	1,137	1,344	1,558	1,682	1,658	1,779
Short-Term Debt	-	-	-	0.00	240	253	274	283	0.00	288
Accounts Payable	196	260	326	404	414	477	553	560	544	564
Accrued Expenses	187	261	189	221	246	296	365	444	382	380
Current Deferred Revenue	-	-	113	199	238	274	354	395	437	501
Current Deferred & Payable Income Tax Liabilities	13	8.97	14	-	0.00	43	13	0.00	11	47
Total Noncurrent Liabilities	392	472	492	547	1,825	1,747	1,671	1,729	1,769	1,734
Capital Lease Obligations	-	-	-	0.00	1,699	1,643	1,573	1,620	-	1,635
Noncurrent Deferred & Payable Income Tax Liabilities	60	86	59	84	89	65	40	55	86	43
Other Noncurrent Operating Liabilities	10	20	25	28	36	38	59	54	1,684	56
Commitments & Contingencies	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
Total Preferred & Common Equity	1,443	1,550	1,774	1,820	1,902	2,000	1,535	1,960	2,279	2,488
Total Common Equity	1,443	1,550	1,774	1,820	1,902	2,000	1,535	1,960	2,279	2,488
Common Stock	622	659	700	739	808	848	935	1,025	1,076	1,121
Retained Earnings	832	906	1,093	1,106	1,128	1,189	653	996	1,287	1,474
Treasury Stock	-12	-15	-19	-25	-34	-38	-53	-60	-83	-107

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	5,332	5,370	5,376	5,249	5,595	5,707	5,632	5,737	5,958
Total Current Assets	2,746	2,709	2,686	2,519	2,792	2,837	2,761	2,799	2,955
Cash & Equivalents	251	738	636	389	122	767	525	414	178
Accounts Receivable	200	199	190	174	203	208	203	201	214
Inventories, net	2,115	1,603	1,751	1,816	2,321	1,742	1,906	1,998	2,365
Prepaid Expenses	138	130	108	111	117	116	127	132	136
Current Deferred & Refundable Income Taxes	43	38	0.00	30	29	4.25	0.00	54	63
Plant, Property, & Equipment, net	967	1,009	1,020	1,073	1,118	1,182	1,196	1,226	1,264
Total Noncurrent Assets	1,619	1,652	1,670	1,656	1,685	1,688	1,676	1,713	1,739
Goodwill	11	11	11	11	11	11	11	11	11
Intangible Assets	0.84	1.31	1.02	0.72	0.59	0.51	0.43	0.36	0.28
Employee Benefit Assets	32	35	37	40	38	44	46	46	49
Other Noncurrent Operating Assets	1,575	1,604	1,621	1,605	1,635	1,633	1,619	1,655	1,679
Total Liabilities & Shareholders' Equity	5,332	5,370	5,376	5,249	5,595	5,707	5,632	5,737	5,958
Total Liabilities	3,409	3,411	3,358	3,197	3,566	3,428	3,331	3,389	3,629
Total Current Liabilities	1,698	1,682	1,634	1,491	1,837	1,658	1,573	1,591	1,816
Short-Term Debt	0.00	283	288	287	195	0.00	285	281	485
Accounts Payable	647	560	621	521	597	544	464	567	593
Accrued Expenses	463	444	309	328	405	382	333	348	333
Current Deferred Revenue	312	395	357	354	351	437	399	395	405
Current Deferred & Payable Income Tax Liabilities	-	0.00	59	0.00	0.00	11	93	0.00	0.00
Total Noncurrent Liabilities	1,712	1,729	1,724	1,706	1,730	1,769	1,758	1,798	1,813
Capital Lease Obligations	-	1,620	1,610	1,593	-	-	1,608	1,648	1,656
Noncurrent Deferred & Payable Income Tax Liabilities	39	55	57	56	57	86	90	88	92
Other Noncurrent Operating Liabilities	1,673	54	56	57	1,673	1,684	61	62	65
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,922	1,960	2,018	2,052	2,029	2,279	2,301	2,348	2,329
Total Preferred & Common Equity	1,922	1,960	2,018	2,052	2,029	2,279	2,301	2,348	2,329
Total Common Equity	1,922	1,960	2,018	2,052	2,029	2,279	2,301	2,348	2,329
Common Stock	999	1,025	1,041	1,050	1,059	1,076	1,092	1,100	1,105
Retained Earnings	983	996	1,059	1,084	1,052	1,287	1,315	1,355	1,330
Treasury Stock	-60	-60	-82	-82	-83	-83	-106	-106	-107

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
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.06%	23.72%	21.21%	14.14%	10.15%	-16.84%	40.30%	18.28%	9.78%	0.79%
EBITDA Growth	23.82%	28.86%	19.98%	9.21%	5.57%	-55.33%	192.92%	20.05%	2.23%	-4.68%
EBIT Growth	23.36%	29.34%	19.92%	8.76%	5.50%	-73.72%	447.88%	26.29%	2.41%	-6.74%
NOPAT Growth	24.44%	28.16%	35.42%	18.15%	7.23%	-74.33%	447.79%	25.49%	3.14%	-6.88%
Net Income Growth	24.45%	28.05%	35.50%	18.61%	7.20%	-75.09%	460.66%	26.03%	3.91%	-6.96%
EPS Growth	25.13%	30.92%	37.42%	22.10%	11.06%	-74.40%	478.14%	33.54%	8.41%	-2.65%
Operating Cash Flow Growth	-5.22%	68.78%	22.85%	22.68%	15.18%	-26.42%	30.72%	39.90%	-0.38%	-9.32%
Free Cash Flow Firm Growth	-125.00%	475.80%	29.67%	98.51%	-297.45%	154.53%	32.76%	19.99%	-8.01%	-7.54%
Invested Capital Growth	65.70%	17.39%	21.28%	2.48%	136.58%	-14.61%	3.52%	5.92%	9.56%	8.31%
Revenue Q/Q Growth	5.96%	6.87%	6.46%	2.87%	2.51%	-1.71%	6.55%	5.12%	3.01%	-0.59%
EBITDA Q/Q Growth	6.73%	8.53%	3.58%	3.06%	0.94%	-11.36%	10.10%	3.72%	3.94%	0.36%
EBIT Q/Q Growth	6.75%	9.12%	4.00%	3.24%	0.73%	-21.14%	13.21%	4.60%	4.32%	-0.05%
NOPAT Q/Q Growth	6.87%	8.63%	13.92%	0.91%	1.25%	-21.92%	13.56%	4.01%	4.45%	-0.01%
Net Income Q/Q Growth	6.87%	8.58%	13.95%	1.00%	1.15%	-22.56%	13.58%	4.31%	4.33%	-0.09%
EPS Q/Q Growth	6.87%	9.40%	14.58%	2.05%	2.36%	-21.27%	14.96%	5.68%	5.64%	1.48%
Operating Cash Flow Q/Q Growth	-5.89%	15.36%	21.69%	-3.66%	13.37%	0.94%	9.64%	21.68%	16.56%	-5.75%
Free Cash Flow Firm Q/Q Growth	-184.81%	32.35%	67.92%	0.19%	8.27%	13.02%	3.77%	-61.18%	23.49%	190.48%
Invested Capital Q/Q Growth	-4.67%	-6.10%	-8.78%	-8.31%	-6.44%	-11.14%	-8.43%	86.95%	62.87%	-13.60%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	35.28%	35.99%	35.63%	35.87%	36.24%	31.68%	39.03%	39.62%	39.09%	38.84%
EBITDA Margin	17.11%	17.82%	17.64%	16.88%	16.18%	8.69%	18.14%	18.42%	17.15%	16.22%
Operating Margin	12.90%	13.49%	13.35%	12.72%	12.18%	3.85%	15.03%	16.05%	14.97%	13.85%
EBIT Margin	12.90%	13.49%	13.35%	12.72%	12.18%	3.85%	15.03%	16.05%	14.97%	13.85%
Profit (Net Income) Margin	8.15%	8.44%	9.44%	9.80%	9.54%	2.86%	11.42%	12.17%	11.52%	10.63%
Tax Burden Percent	63.06%	62.49%	70.56%	76.65%	77.91%	76.09%	76.08%	75.59%	76.14%	76.02%
Interest Burden Percent	100.23%	100.14%	100.20%	100.59%	100.56%	97.58%	99.87%	100.30%	101.05%	100.96%
Effective Tax Rate	36.94%	37.51%	29.44%	23.35%	22.09%	23.91%	23.92%	24.41%	23.86%	23.98%
Return on Invested Capital (ROIC)	41.18%	38.93%	44.12%	46.97%	29.56%	5.82%	34.03%	40.78%	39.02%	33.36%
ROIC Less NNEP Spread (ROIC-NNEP)	41.02%	38.81%	43.85%	46.01%	30.33%	5.44%	33.92%	41.06%	40.18%	34.33%
Return on Net Nonoperating Assets (RNNOA)	-15.01%	-11.55%	-10.72%	-10.33%	8.37%	3.19%	21.74%	30.32%	21.89%	17.03%
Return on Equity (ROE)	26.17%	27.38%	33.40%	36.64%	37.93%	9.01%	55.78%	71.09%	60.91%	50.39%
Cash Return on Invested Capital (CROIC)	-8.27%	22.93%	24.89%	44.52%	-51.59%	21.59%	30.58%	35.03%	29.89%	25.38%
Operating Return on Assets (OROA)	26.41%	27.38%	28.76%	28.00%	22.37%	4.76%	26.33%	32.34%	30.30%	26.73%
Return on Assets (ROA)	16.69%	17.13%	20.34%	21.59%	17.53%	3.53%	20.01%	24.52%	23.31%	20.52%
Return on Common Equity (ROCE)	26.17%	27.38%	33.40%	36.64%	37.93%	9.01%	55.78%	71.09%	60.91%	50.39%
Return on Equity Simple (ROE_SIMPLE)	22.18%	26.43%	31.29%	36.18%	37.11%	8.79%	64.21%	63.39%	56.64%	48.27%
Net Operating Profit after Tax (NOPAT)	319	409	554	655	702	180	987	1,239	1,278	1,190
NOPAT Margin	8.14%	8.43%	9.42%	9.75%	9.49%	2.93%	11.44%	12.13%	11.40%	10.53%
Net Nonoperating Expense Percent (NNEP)	0.16%	0.12%	0.27%	0.96%	-0.77%	0.38%	0.11%	-0.29%	-1.16%	-0.97%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	26.97%
Cost of Revenue to Revenue	64.72%	64.01%	64.37%	64.13%	63.76%	68.32%	60.97%	60.38%	60.91%	61.16%
SG&A Expenses to Revenue	22.00%	22.12%	21.87%	22.86%	23.80%	25.73%	23.89%	23.46%	24.04%	24.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	22.38%	22.50%	22.29%	23.16%	24.06%	27.83%	24.00%	23.57%	24.12%	24.99%
Earnings before Interest and Taxes (EBIT)	506	655	785	854	901	237	1,297	1,639	1,678	1,565
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
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.00	10.90	7.54	9.49	8.05	7.88	12.65	13.13	10.77	7.68
Price to Tangible Book Value (P/TBV)	8.00	10.90	7.54	9.57	8.11	7.94	12.75	13.21	10.82	7.72
Price to Revenue (P/Rev)	2.94	3.48	2.27	2.57	2.07	2.56	2.25	2.52	2.19	1.69
Price to Earnings (P/E)	36.06	41.23	24.11	26.24	21.69	89.64	19.70	20.71	19.01	15.91
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.77%	2.43%	4.15%	3.81%	4.61%	1.12%	5.08%	4.83%	5.26%	6.28%
Enterprise Value to Invested Capital (EV/IC)	11.44	14.51	9.43	11.96	5.02	5.83	7.06	8.61	7.50	5.48
Enterprise Value to Revenue (EV/Rev)	2.82	3.39	2.21	2.51	2.26	2.70	2.41	2.63	2.29	1.80
Enterprise Value to EBITDA (EV/EBITDA)	16.48	19.05	12.51	14.88	14.00	31.07	13.31	14.31	13.36	11.10
Enterprise Value to EBIT (EV/EBIT)	21.85	25.16	16.54	19.75	18.59	70.15	16.06	16.41	15.31	12.99
Enterprise Value to NOPAT (EV/NOPAT)	34.65	40.27	23.44	25.77	23.86	92.19	21.11	21.71	20.10	17.09
Enterprise Value to Operating Cash Flow (EV/OCF)	29.44	25.97	16.67	17.65	15.21	20.50	19.67	18.15	17.40	15.19
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	68.36	41.55	27.19	0.00	24.87	23.49	25.27	26.24	22.46
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	1.02	0.95	1.20	0.97	0.84	0.77
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.89	0.82	1.02	0.83	0.71	0.66
Financial Leverage	-0.37	-0.30	-0.24	-0.22	0.28	0.59	0.64	0.74	0.54	0.50
Leverage Ratio	1.57	1.60	1.64	1.70	2.16	2.55	2.79	2.90	2.61	2.46
Compound Leverage Factor	1.57	1.60	1.65	1.71	2.18	2.49	2.78	2.91	2.64	2.48
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	50.47%	48.68%	54.60%	49.27%	45.61%	43.60%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	6.24%	6.50%	8.10%	7.33%	6.77%	6.53%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	44.23%	42.18%	46.50%	41.93%	38.83%	37.06%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	49.53%	51.32%	45.40%	50.73%	54.39%	56.40%
Debt to EBITDA	0.00	0.00	0.00	0.00	1.62	3.55	1.18	1.01	0.99	1.05
Net Debt to EBITDA	0.00	0.00	0.00	0.00	1.20	1.59	0.90	0.62	0.60	0.67
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	1.42	3.07	1.00	0.86	0.85	0.89
Debt to NOPAT	0.00	0.00	0.00	0.00	2.76	10.53	1.87	1.54	1.50	1.62
Net Debt to NOPAT	0.00	0.00	0.00	0.00	2.05	4.72	1.43	0.94	0.90	1.03
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	2.42	9.12	1.59	1.31	1.27	1.37
Altman Z-Score	12.34	13.84	10.95	11.45	5.79	5.03	6.69	7.92	7.79	6.60
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.47	2.90	2.64	2.32	1.81	1.87	1.46	1.61	1.71	1.70
Quick Ratio	1.37	0.95	0.77	0.66	0.56	0.92	0.43	0.56	0.59	0.52
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-64	241	313	620	-1,225	668	887	1,064	979	905
Operating Cash Flow to CapEx	125.64%	169.87%	176.84%	299.35%	368.90%	533.60%	615.18%	474.78%	339.16%	357.48%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.05	2.03	2.16	2.20	1.84	1.24	1.75	2.01	2.02	1.93
Accounts Receivable Turnover	70.05	63.20	62.48	56.95	53.71	37.01	40.45	47.14	55.02	52.38
Inventory Turnover	4.16	3.64	3.71	3.73	3.76	3.41	3.95	3.97	4.08	3.72
Fixed Asset Turnover	5.44	5.24	5.36	5.56	6.09	5.59	9.04	10.61	10.23	9.33
Accounts Payable Turnover	14.75	13.64	12.94	11.80	11.53	9.43	10.22	11.08	12.37	12.47
Days Sales Outstanding (DSO)	5.21	5.78	5.84	6.41	6.80	9.86	9.02	7.74	6.63	6.97
Days Inventory Outstanding (DIO)	87.65	100.18	98.31	97.91	97.04	106.91	92.51	91.86	89.45	98.02
Days Payable Outstanding (DPO)	24.75	26.76	28.20	30.92	31.65	38.69	35.71	32.93	29.50	29.26
Cash Conversion Cycle (CCC)	68.10	79.19	75.95	73.40	72.18	78.07	65.82	66.67	66.58	75.72
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	967	1,135	1,377	1,411	3,338	2,850	2,951	3,125	3,424	3,708
Invested Capital Turnover	5.06	4.62	4.69	4.82	3.12	1.99	2.98	3.36	3.42	3.17
Increase / (Decrease) in Invested Capital	383	168	242	34	1,927	-488	100	175	299	285
Enterprise Value (EV)	11,065	16,477	12,989	16,872	16,750	16,612	20,835	26,894	25,684	20,332
Market Capitalization	11,540	16,892	13,386	17,281	15,314	15,761	19,420	25,729	24,540	19,112
Book Value per Share	$22.65	$24.91	$29.09	$30.69	$33.28	$35.49	$28.37	$38.52	$46.94	$53.66
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
Total Capital	1,443	1,550	1,774	1,820	3,840	3,896	3,382	3,863	4,190	4,412
Total Debt	0.00	0.00	0.00	0.00	1,938	1,897	1,847	1,903	1,911	1,923
Total Long-Term Debt	0.00	0.00	0.00	0.00	1,699	1,643	1,573	1,620	1,627	1,635
Net Debt	-476	-415	-397	-409	1,436	851	1,415	1,165	1,144	1,220
Capital Expenditures (CapEx)	299	373	441	319	299	152	172	312	435	374
Debt-free, Cash-free Net Working Capital (DFCFNWC)	503	592	654	682	655	378	566	573	696	834
Debt-free Net Working Capital (DFNWC)	979	1,007	1,052	1,091	1,158	1,424	997	1,311	1,462	1,537
Net Working Capital (NWC)	979	1,007	1,052	1,091	918	1,171	723	1,028	1,178	1,249
Net Nonoperating Expense (NNE)	-0.72	-0.56	-1.11	-3.88	-3.94	4.36	1.27	-3.73	-13	-11
Net Nonoperating Obligations (NNO)	-476	-415	-397	-409	1,436	851	1,415	1,165	1,144	1,220
Total Depreciation and Amortization (D&A)	165	210	253	279	296	298	268	241	244	267
Debt-free, Cash-free Net Working Capital to Revenue	12.82%	12.19%	11.12%	10.15%	8.86%	6.15%	6.55%	5.61%	6.21%	7.39%
Debt-free Net Working Capital to Revenue	24.95%	20.74%	17.87%	16.25%	15.65%	23.15%	11.55%	12.84%	13.05%	13.61%
Net Working Capital to Revenue	24.95%	20.74%	17.87%	16.25%	12.41%	19.04%	8.38%	10.07%	10.51%	11.06%
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
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
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
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
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
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
Normalized Net Operating Profit after Tax (NOPAT)	329	421	571	670	717	279	994	1,247	1,284	1,200
Normalized NOPAT Margin	8.37%	8.67%	9.71%	9.97%	9.69%	4.53%	11.52%	12.21%	11.46%	10.62%
Pre Tax Income Margin	12.93%	13.51%	13.37%	12.79%	12.25%	3.76%	15.01%	16.10%	15.13%	13.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	52.31%	84.02%	66.20%	93.57%	96.46%	65.34%	154.38%	72.44%	77.13%	83.53%

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.19%	18.22%	12.29%	10.13%	6.42%	10.15%	3.48%	0.88%	1.65%	-1.88%
EBITDA Growth	20.30%	15.35%	-0.11%	0.28%	-7.54%	14.37%	-6.87%	-13.02%	-0.80%	1.14%
EBIT Growth	27.31%	19.17%	1.00%	0.05%	-9.57%	15.52%	-9.30%	-15.94%	-2.67%	-0.15%
NOPAT Growth	27.06%	16.47%	2.92%	0.38%	-9.62%	16.12%	-9.83%	-16.04%	-2.70%	-0.02%
Net Income Growth	27.54%	17.76%	4.72%	1.50%	-9.14%	15.74%	-9.78%	-15.84%	-2.93%	-0.28%
EPS Growth	35.53%	23.98%	9.21%	5.61%	-5.06%	20.84%	-5.96%	-11.96%	1.38%	4.59%
Operating Cash Flow Growth	143.67%	40.98%	-28.48%	8.34%	-316.11%	23.09%	-47.74%	61.04%	19.72%	-7.31%
Free Cash Flow Firm Growth	807.52%	-14.01%	-101.59%	-183.02%	-110.03%	-42.83%	-2,901.94%	-27.15%	-965.65%	15.10%
Invested Capital Growth	-48.12%	5.92%	11.72%	11.03%	25.75%	9.56%	11.86%	9.02%	104.18%	8.31%
Revenue Q/Q Growth	1.81%	37.97%	-18.36%	-3.97%	-1.62%	42.80%	-23.31%	-6.37%	-0.86%	37.85%
EBITDA Q/Q Growth	-7.07%	20.58%	-1.34%	-9.29%	-14.31%	49.15%	-19.66%	-15.28%	-2.28%	52.08%
EBIT Q/Q Growth	-7.55%	23.70%	-1.24%	-11.41%	-16.45%	58.02%	-22.46%	-17.89%	-3.25%	62.11%
NOPAT Q/Q Growth	-7.33%	23.18%	1.16%	-13.08%	-16.56%	58.26%	-21.44%	-19.06%	-3.30%	62.61%
Net Income Q/Q Growth	-7.13%	24.10%	1.85%	-13.53%	-16.87%	58.07%	-20.60%	-19.34%	-4.11%	62.39%
EPS Q/Q Growth	-6.32%	24.91%	3.15%	-12.50%	-15.78%	58.97%	-19.73%	-18.08%	-3.02%	64.01%
Operating Cash Flow Q/Q Growth	-71.36%	2,673.25%	-66.44%	-59.36%	-157.14%	1,679.52%	-85.75%	25.23%	-128.48%	1,923.72%
Free Cash Flow Firm Q/Q Growth	2,634.85%	-91.07%	-101.66%	-1,950.12%	-230.28%	150.92%	-187.07%	13.16%	-2,668.05%	105.50%
Invested Capital Q/Q Growth	-47.62%	86.95%	4.96%	8.04%	-40.68%	62.87%	7.16%	5.30%	11.11%	-13.60%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	41.17%	37.58%	40.04%	39.28%	39.86%	37.72%	39.25%	38.33%	39.75%	38.24%
EBITDA Margin	17.97%	15.71%	18.98%	17.93%	15.61%	16.31%	17.08%	15.46%	15.24%	16.81%
Operating Margin	15.47%	13.87%	16.78%	15.48%	13.15%	14.55%	14.71%	12.90%	12.59%	14.80%
EBIT Margin	15.47%	13.87%	16.78%	15.48%	13.15%	14.55%	14.71%	12.90%	12.59%	14.80%
Profit (Net Income) Margin	11.74%	10.56%	13.17%	11.86%	10.02%	11.10%	11.49%	9.90%	9.57%	11.28%
Tax Burden Percent	75.70%	75.39%	77.22%	75.77%	75.66%	75.78%	76.77%	75.68%	75.64%	75.87%
Interest Burden Percent	100.23%	100.98%	101.66%	101.14%	100.76%	100.64%	101.72%	101.37%	100.53%	100.39%
Effective Tax Rate	24.30%	24.61%	22.78%	24.23%	24.34%	24.22%	23.23%	24.32%	24.36%	24.13%
Return on Invested Capital (ROIC)	46.49%	35.14%	43.77%	37.37%	57.36%	37.73%	36.72%	29.84%	33.84%	35.58%
ROIC Less NNEP Spread (ROIC-NNEP)	46.62%	35.40%	44.23%	37.60%	55.22%	37.95%	37.13%	30.07%	33.96%	35.71%
Return on Net Nonoperating Assets (RNNOA)	11.74%	26.14%	28.82%	28.68%	-2.47%	20.68%	22.61%	20.55%	15.88%	17.71%
Return on Equity (ROE)	58.23%	61.28%	72.59%	66.05%	54.88%	58.41%	59.33%	50.39%	49.71%	53.29%
Cash Return on Invested Capital (CROIC)	112.04%	35.03%	29.10%	26.65%	42.01%	29.89%	24.61%	23.68%	-31.29%	25.38%
Operating Return on Assets (OROA)	28.30%	27.95%	33.92%	32.59%	26.18%	29.44%	30.20%	26.59%	24.76%	28.56%
Return on Assets (ROA)	21.47%	21.27%	26.63%	24.97%	19.96%	22.45%	23.58%	20.40%	18.83%	21.76%
Return on Common Equity (ROCE)	58.23%	61.28%	72.59%	66.05%	54.88%	58.41%	59.33%	50.39%	49.71%	53.29%
Return on Equity Simple (ROE_SIMPLE)	61.96%	0.00%	62.34%	61.53%	61.00%	0.00%	54.64%	51.51%	51.62%	0.00%
Net Operating Profit after Tax (NOPAT)	274	337	341	297	248	392	308	249	241	392
NOPAT Margin	11.71%	10.46%	12.96%	11.73%	9.95%	11.02%	11.29%	9.76%	9.52%	11.23%
Net Nonoperating Expense Percent (NNEP)	-0.13%	-0.26%	-0.46%	-0.23%	2.13%	-0.22%	-0.40%	-0.23%	-0.12%	-0.13%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	8.88%
Cost of Revenue to Revenue	58.83%	62.42%	59.96%	60.72%	60.14%	62.28%	60.75%	61.67%	60.25%	61.76%
SG&A Expenses to Revenue	25.53%	23.64%	23.24%	23.74%	26.57%	23.08%	24.43%	25.27%	26.97%	23.39%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.70%	23.70%	23.26%	23.80%	26.71%	23.17%	24.54%	25.43%	27.16%	23.44%
Earnings before Interest and Taxes (EBIT)	362	448	442	392	327	517	401	329	319	516
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	420	507	500	454	389	580	466	395	386	586
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.09	13.13	13.72	10.81	9.22	10.77	8.34	6.93	7.64	7.68
Price to Tangible Book Value (P/TBV)	11.16	13.21	13.80	10.87	9.27	10.82	8.38	6.96	7.68	7.72
Price to Revenue (P/Rev)	2.19	2.52	2.64	2.07	1.72	2.19	1.70	1.44	1.57	1.69
Price to Earnings (P/E)	17.90	20.71	22.00	17.57	15.11	19.01	15.26	13.45	14.80	15.91
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.59%	4.83%	4.55%	5.69%	6.62%	5.26%	6.55%	7.43%	6.76%	6.28%
Enterprise Value to Invested Capital (EV/IC)	12.60	8.61	8.82	6.68	8.93	7.50	5.60	4.60	4.60	5.48
Enterprise Value to Revenue (EV/Rev)	2.17	2.63	2.76	2.21	1.73	2.29	1.82	1.57	1.74	1.80
Enterprise Value to EBITDA (EV/EBITDA)	11.62	14.31	15.40	12.59	10.15	13.36	10.89	9.73	10.82	11.10
Enterprise Value to EBIT (EV/EBIT)	13.45	16.41	17.62	14.41	11.67	15.31	12.55	11.30	12.62	12.99
Enterprise Value to NOPAT (EV/NOPAT)	17.69	21.71	23.18	18.95	15.35	20.10	16.52	14.87	16.61	17.09
Enterprise Value to Operating Cash Flow (EV/OCF)	17.30	18.15	21.27	17.28	14.82	17.40	15.44	12.65	13.91	15.19
Enterprise Value to Free Cash Flow (EV/FCFF)	7.68	25.27	32.00	26.38	23.68	26.24	24.03	20.28	0.00	22.46
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.97	0.94	0.92	0.10	0.84	0.82	0.82	0.92	0.77
Long-Term Debt to Equity	0.00	0.83	0.80	0.78	0.00	0.71	0.70	0.70	0.71	0.66
Financial Leverage	0.25	0.74	0.65	0.76	-0.04	0.54	0.61	0.68	0.47	0.50
Leverage Ratio	2.72	2.90	2.76	2.67	2.77	2.61	2.55	2.50	2.65	2.46
Compound Leverage Factor	2.72	2.93	2.81	2.70	2.79	2.63	2.59	2.53	2.67	2.47
Debt to Total Capital	0.00%	49.27%	48.47%	47.82%	8.79%	45.61%	45.14%	45.10%	47.90%	43.60%
Short-Term Debt to Total Capital	0.00%	7.33%	7.36%	7.31%	8.79%	6.77%	6.79%	6.58%	10.84%	6.53%
Long-Term Debt to Total Capital	0.00%	41.93%	41.12%	40.51%	0.00%	38.83%	38.34%	38.52%	37.05%	37.06%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	50.73%	51.53%	52.18%	91.21%	54.39%	54.86%	54.90%	52.10%	56.40%
Debt to EBITDA	0.00	1.01	1.01	1.00	0.11	0.99	1.00	1.06	1.17	1.05
Net Debt to EBITDA	0.00	0.62	0.67	0.79	0.04	0.60	0.72	0.83	1.08	0.67
Long-Term Debt to EBITDA	0.00	0.86	0.86	0.85	0.00	0.85	0.85	0.90	0.91	0.89
Debt to NOPAT	0.00	1.54	1.52	1.50	0.16	1.50	1.52	1.61	1.80	1.62
Net Debt to NOPAT	0.00	0.94	1.01	1.19	0.06	0.90	1.10	1.27	1.65	1.03
Long-Term Debt to NOPAT	0.00	1.31	1.29	1.27	0.00	1.27	1.29	1.38	1.39	1.37
Altman Z-Score	6.29	7.19	7.68	6.98	5.75	7.12	6.28	5.63	5.57	6.02
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.62	1.61	1.64	1.69	1.52	1.71	1.76	1.76	1.63	1.70
Quick Ratio	0.27	0.56	0.51	0.38	0.18	0.59	0.46	0.39	0.22	0.52
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,824	163	-2.70	-55	-183	93	-81	-70	-1,949	107
Operating Cash Flow to CapEx	39.25%	839.91%	277.77%	130.45%	-66.61%	900.10%	175.05%	209.43%	-49.76%	1,402.24%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.83	2.01	2.02	2.10	1.99	2.02	2.05	2.06	1.97	1.93
Accounts Receivable Turnover	52.56	47.14	54.81	60.46	53.97	55.02	57.39	60.33	54.56	52.38
Inventory Turnover	2.90	3.97	3.82	3.74	2.99	4.08	3.77	3.64	2.97	3.72
Fixed Asset Turnover	10.35	10.61	10.88	10.81	10.44	10.23	10.20	9.85	9.54	9.33
Accounts Payable Turnover	8.39	11.08	10.51	11.74	10.65	12.37	12.72	12.76	11.71	12.47
Days Sales Outstanding (DSO)	6.94	7.74	6.66	6.04	6.76	6.63	6.36	6.05	6.69	6.97
Days Inventory Outstanding (DIO)	125.71	91.86	95.64	97.67	122.17	89.45	96.69	100.28	122.74	98.02
Days Payable Outstanding (DPO)	43.49	32.93	34.75	31.09	34.27	29.50	28.69	28.61	31.18	29.26
Cash Conversion Cycle (CCC)	89.17	66.67	67.55	72.62	94.66	66.58	74.37	77.72	98.25	75.72
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,672	3,125	3,280	3,544	2,102	3,424	3,669	3,863	4,292	3,708
Invested Capital Turnover	3.97	3.36	3.38	3.19	5.77	3.42	3.25	3.06	3.55	3.17
Increase / (Decrease) in Invested Capital	-1,550	175	344	352	431	299	389	320	2,190	285
Enterprise Value (EV)	21,065	26,894	28,941	23,673	18,774	25,684	20,550	17,787	19,756	20,332
Market Capitalization	21,315	25,729	27,679	22,181	18,700	24,540	19,182	16,272	17,793	19,112
Book Value per Share	$37.53	$38.52	$40.20	$41.20	$41.21	$46.94	$47.67	$49.21	$49.43	$53.66
Tangible Book Value per Share	$37.30	$38.28	$39.97	$40.97	$40.97	$46.70	$47.43	$48.98	$49.20	$53.42
Total Capital	1,922	3,863	3,916	3,932	2,224	4,190	4,194	4,277	4,470	4,412
Total Debt	0.00	1,903	1,898	1,880	195	1,911	1,893	1,929	2,141	1,923
Total Long-Term Debt	0.00	1,620	1,610	1,593	0.00	1,627	1,608	1,648	1,656	1,635
Net Debt	-251	1,165	1,262	1,492	74	1,144	1,368	1,515	1,963	1,220
Capital Expenditures (CapEx)	83	108	110	95	106	124	91	95	114	74
Debt-free, Cash-free Net Working Capital (DFCFNWC)	797	573	704	927	1,029	696	948	1,075	1,445	834
Debt-free Net Working Capital (DFNWC)	1,048	1,311	1,340	1,315	1,151	1,462	1,473	1,489	1,623	1,537
Net Working Capital (NWC)	1,048	1,028	1,052	1,028	955	1,178	1,188	1,208	1,138	1,249
Net Nonoperating Expense (NNE)	-0.64	-3.30	-5.67	-3.37	-1.89	-2.52	-5.30	-3.43	-1.27	-1.51
Net Nonoperating Obligations (NNO)	-251	1,165	1,262	1,492	74	1,144	1,368	1,515	1,963	1,220
Total Depreciation and Amortization (D&A)	58	59	58	62	61	63	65	65	67	70
Debt-free, Cash-free Net Working Capital to Revenue	8.21%	5.61%	6.70%	8.64%	9.46%	6.21%	8.39%	9.49%	12.72%	7.39%
Debt-free Net Working Capital to Revenue	10.79%	12.84%	12.77%	12.26%	10.57%	13.05%	13.03%	13.15%	14.29%	13.61%
Net Working Capital to Revenue	10.79%	10.07%	10.02%	9.58%	8.78%	10.51%	10.51%	10.67%	10.02%	11.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.37	$6.73	$6.92	$6.05	$5.09	$8.12	$6.51	$5.32	$5.16	$8.45
Adjusted Weighted Average Basic Shares Outstanding	51.13M	51.40M	50.15M	49.62M	49.01M	49.30M	48.13M	47.51M	46.93M	47.21M
Adjusted Diluted Earnings per Share	$5.34	$6.67	$6.88	$6.02	$5.07	$8.06	$6.47	$5.30	$5.14	$8.43
Adjusted Weighted Average Diluted Shares Outstanding	51.42M	51.74M	50.47M	49.85M	49.23M	49.60M	48.38M	47.67M	47.09M	47.40M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	50.88M	50.20M	49.80M	49.23M	48.56M	48.27M	47.72M	47.11M	46.37M	45.31M
Normalized Net Operating Profit after Tax (NOPAT)	277	339	342	298	250	394	310	252	245	393
Normalized NOPAT Margin	11.84%	10.51%	12.98%	11.77%	10.05%	11.09%	11.37%	9.89%	9.67%	11.27%
Pre Tax Income Margin	15.51%	14.01%	17.06%	15.66%	13.25%	14.64%	14.96%	13.08%	12.65%	14.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	111.81%	72.44%	83.52%	81.16%	94.45%	77.13%	79.68%	77.59%	76.57%	83.53%

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 February. Their financial year 2025 ended on February 1, 2025.

How has Ulta Beauty's net income changed over the last 9 years?

Ulta Beauty's net income appears to be on an upward trend, with a most recent value of $1.20 billion in 2024, rising from $320.01 million in 2015. The previous period was $1.29 billion in 2023.

What is Ulta Beauty's operating income?

Ulta Beauty's total operating income in 2024 was $1.56 billion, based on the following breakdown:

Total Gross Profit: $4.39 billion
Total Operating Expenses: $2.82 billion

How has Ulta Beauty revenue changed over the last 9 years?

Over the last 9 years, Ulta Beauty's total revenue changed from $3.92 billion in 2015 to $11.30 billion in 2024, a change of 187.9%.

How much debt does Ulta Beauty have?

Ulta Beauty's total liabilities were at $3.51 billion at the end of 2024, a 2.5% increase from 2023, and a 345.8% increase since 2015.

How much cash does Ulta Beauty have?

In the past 9 years, Ulta Beauty's cash and equivalents has ranged from $277.45 million in 2017 to $1.05 billion in 2020, and is currently $703.20 million as of their latest financial filing in 2024.

How has Ulta Beauty's book value per share changed over the last 9 years?

Over the last 9 years, Ulta Beauty's book value per share changed from 22.65 in 2015 to 53.66 in 2024, a change of 136.9%.

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This page (NASDAQ:ULTA) was last updated on 4/13/2025 by MarketBeat.com Staff

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Ulta Beauty (ULTA) Financials

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Ulta Beauty (ULTA) Financials

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