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Ulta Beauty (ULTA) | Financial Analysis & Statements

Ulta Beauty Inc. | Large-cap | Consumer Cyclical

$516.02

3.47%

Ulta Beauty vs Tractor Supply Ulta Beauty vs Williams-Sonoma Ulta Beauty vs Casey's General Ulta Beauty vs Dick's Sporting Ulta Beauty vs Best Buy Co Ulta Beauty vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Apr 2025

Income Metrics

Revenue 2.8B

Gross Profit 1.1B 39.12%

Operating Income 403.6M 14.17%

Net Income 305.1M 10.71%

EPS (Diluted) $6.70

Balance Sheet Metrics

Total Assets 6.0B

Total Liabilities 3.6B

Shareholders Equity 2.4B

Debt to Equity 1.46

Cash Flow Metrics

Operating Cash Flow 260.5M

Free Cash Flow 141.0M

Revenue & Profitability Trend

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This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Ulta Beauty Income Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Revenue i	11.3B	11.2B	10.2B	8.6B	6.2B
Cost of Goods Sold i	6.9B	6.8B	6.2B	5.3B	4.2B
Gross Profit i	4.4B	4.4B	4.0B	3.4B	1.9B
Gross Margin % i	38.8%	39.1%	39.6%	39.0%	31.7%
Operating Expenses
Research & Development i	-	-	-	-	-
Selling, General & Administrative i	2.8B	2.7B	2.4B	2.1B	1.6B
Other Operating Expenses i	-	-	10.6M	9.5M	15.0M
Total Operating Expenses i	2.8B	2.7B	2.4B	2.1B	1.6B
Operating Income i	1.6B	1.7B	1.6B	1.3B	366.1M
Operating Margin % i	14.0%	15.0%	16.2%	15.1%	6.0%
Non-Operating Items
Interest Income i	15.1M	-	-	-	-
Interest Expense i	-	-	-	-	-
Other Non-Operating Income	-13.7M	-8.5M	-10.6M	-9.5M	-129.3M
Pre-tax Income i	1.6B	1.7B	1.6B	1.3B	231.1M
Income Tax i	378.9M	404.6M	401.1M	310.0M	55.2M
Effective Tax Rate % i	24.0%	23.9%	24.4%	23.9%	23.9%
Net Income i	1.2B	1.3B	1.2B	985.8M	175.8M
Net Margin % i	10.6%	11.5%	12.2%	11.4%	2.9%
Key Metrics
EBITDA i	1.9B	1.9B	1.9B	1.6B	793.2M
EPS (Basic) i	$25.44	$26.18	$24.17	$18.09	$3.12
EPS (Diluted) i	$25.34	$26.03	$24.01	$17.98	$3.11
Basic Shares Outstanding i	47207000	49304000	51403000	54482000	56351000
Diluted Shares Outstanding i	47207000	49304000	51403000	54482000	56351000

Income Statement Trend

Ulta Beauty Balance Sheet From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Assets
Current Assets
Cash & Equivalents i	703.2M	766.6M	737.9M	431.6M	1.0B
Short-term Investments i	-	-	-	-	0
Accounts Receivable i	-	-	199.4M	233.7M	193.1M
Inventory i	2.0B	1.7B	1.6B	1.5B	1.2B
Other Current Assets	34.5M	25.6M	34.6M	38.8M	107.4M
Total Current Assets i	3.0B	2.8B	2.7B	2.3B	2.5B
Non-Current Assets
Property, Plant & Equipment i	1.6B	2.3B	2.2B	2.1B	2.2B
Goodwill i	21.9M	22.2M	23.1M	23.3M	24.2M
Intangible Assets i	204.0K	510.0K	1.3M	1.5M	2.5M
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	112.6M	102.2M	78.4M	74.1M	61.4M
Total Non-Current Assets i	3.0B	2.9B	2.7B	2.5B	2.6B
Total Assets i	6.0B	5.7B	5.4B	4.8B	5.1B
Liabilities
Current Liabilities
Accounts Payable i	563.8M	544.0M	559.5M	552.7M	477.1M
Short-term Debt i	288.1M	283.8M	283.3M	274.1M	253.4M
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	-	-	-	-	-
Total Current Liabilities i	1.8B	1.7B	1.7B	1.6B	1.3B
Non-Current Liabilities
Long-term Debt i	1.6B	1.6B	1.6B	1.6B	1.6B
Deferred Tax Liabilities i	42.6M	85.9M	55.3M	39.7M	65.4M
Other Non-Current Liabilities	56.1M	56.3M	53.6M	58.7M	38.0M
Total Non-Current Liabilities i	1.7B	1.8B	1.7B	1.7B	1.7B
Total Liabilities i	3.5B	3.4B	3.4B	3.2B	3.1B
Equity
Common Stock i	468.0K	491.0K	511.0K	530.0K	569.0K
Retained Earnings i	1.5B	1.3B	995.8M	653.4M	1.2B
Treasury Stock i	106.8M	83.0M	60.5M	53.5M	37.8M
Other Equity	-	-	-	-	-
Total Shareholders Equity i	2.5B	2.3B	2.0B	1.5B	2.0B
Key Metrics
Total Debt i	1.9B	1.9B	1.9B	1.8B	1.9B
Working Capital i	1.2B	1.2B	1.0B	723.2M	1.2B

Balance Sheet Composition

Ulta Beauty Cash Flow Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Operating Activities
Net Income i	1.2B	1.3B	1.2B	985.8M	175.8M
Depreciation & Amortization i	267.0M	243.8M	241.4M	268.5M	297.8M
Stock-Based Compensation i	42.8M	48.2M	43.0M	47.3M	27.6M
Working Capital Changes i	-444.0M	-434.0M	-398.0M	-553.4M	-68.5M
Operating Cash Flow i	1.3B	1.5B	1.4B	998.7M	676.8M
Investing Activities
Capital Expenditures i	-	-	-	-	-
Acquisitions i	-	-	0	0	-1.2M
Investment Purchases i	-	-	-2.5M	-4.3M	-5.7M
Investment Sales i	-	-	0	0	110.0M
Investing Cash Flow i	-	-	-2.5M	-4.3M	103.1M
Financing Activities
Share Repurchases i	-1.0B	-1.0B	-907.0M	-1.5B	-118.2M
Dividends Paid i	-	-	-	-	-
Debt Issuance i	199.7M	195.4M	0	0	800.0M
Debt Repayment i	-199.7M	-195.4M	0	0	-800.0M
Financing Cash Flow i	-1.0B	-1.0B	-907.0M	-1.5B	-118.2M
Free Cash Flow i	964.1M	1.0B	1.2B	887.1M	658.5M
Net Change in Cash i	303.0M	494.1M	536.9M	-543.2M	661.6M

Cash Flow Trend

Ulta Beauty Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 19.49

Forward P/E 21.78

Price to Book 9.23

Price to Sales 1.96

PEG Ratio 21.78

Profitability Ratios

Profit Margin 10.45%

Operating Margin 14.11%

Return on Equity 50.44%

Return on Assets 16.85%

Financial Health

Current Ratio 1.67

Debt to Equity 81.27

Beta 1.12

Per Share Data

EPS (TTM) $25.56

Book Value per Share $53.96

Revenue per Share $245.47

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
ulta	22.4B	19.49	9.23	50.44%	10.45%	81.27
Tractor Supply	31.4B	29.19	12.61	45.35%	7.18%	223.16
Williams-Sonoma	24.5B	23.05	11.35	50.15%	14.09%	63.33
Casey's General	19.3B	35.47	5.49	16.75%	3.43%	84.30
Dick's Sporting	16.9B	15.11	5.48	40.22%	8.49%	149.66
Best Buy Co	14.6B	16.82	5.27	30.21%	2.13%	146.91

Financial data is updated regularly. All figures are in the company's reporting currency.