Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
ULTA · Nasdaq · United States · Retail-Retail Stores, Nec
In shortUlta Beauty, Inc. is profitable, generates cash and holds more cash than debt, with revenue growing (+9.7% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 12.4% | 58/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 9.3% | 57/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 43.6% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 40.4% | 100/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.41× | 51/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.02× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 3.84 | 70/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 8.6% | 54/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.93× | 78/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 15.0% | 55/100 |
| Operating margin volatility | 1.4% | 96/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 6.7% | 54/100 |
|---|---|---|
| EPS growth, 3-year average | 2.2% | 36/100 |
Weight in the score: 10%
Fiscal year 2026 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 8,631 | 10,209 | 11,207 | 11,296 | 12,393 |
| Cost of revenue | 5,262 | 6,164 | 6,826 | 6,908 | 7,548 |
| Gross profit | 3,369 | 4,045 | 4,381 | 4,387 | 4,845 |
| Selling, general & admin | 2,062 | 2,395 | 2,695 | 2,809 | 3,296 |
| Operating income | 1,297 | 1,639 | 1,678 | 1,565 | 1,533 |
| Pre-tax income | 1,296 | 1,644 | 1,696 | 1,580 | 1,531 |
| Income tax | 310 | 401 | 405 | 379 | 374 |
| Net income | 986 | 1,242 | 1,291 | 1,201 | 1,153 |
| Diluted EPS | $17.98 | $24.01 | $26.03 | $25.34 | $25.64 |
| Diluted shares (millions) | 55 | 52 | 50 | 47 | 45 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of Ulta Beauty, Inc. are included in the Investor plan. Try free for 7 days →
3.84 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Aug 1, 2026 · Data updated Aug 27, 2026