Ulta Beauty operates over 1,500 freestanding beauty retail stores across the US, selling cosmetics, skincare, haircare, and fragrance products to general consumers. It differentiates from department stores by carrying both mass-market and prestige brands under one roof. In-store salon services (hair, makeup, skin, brows) make up a small slice of revenue but pull in foot traffic. Internationally, it owns UK/Ireland chain Space NK (86 stores) and has franchised and joint-venture operations in Mexico and the Middle East. Revenue comes primarily from product sales, with salons as a secondary stream.
Employees65,000IPOOct 25, 2007SIC7231HQ1000 Remington Boulevard, Suite 120, Bolingbrook, IL, USA, 60440
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Financials
Profitability
Metric
Current
Margins
Gross Margin
39.3%
Operating Margin
12.6%
EBITDA Margin
15.0%
Net Margin
9.3%
OCF Margin
12.1%
FCF Margin
8.9%
Returns on Capital
ROE
45.6%
ROA
17.5%
ROIC
22.9%
ROCE
35.3%
ROC (Greenblatt)
38.2%
3Y ROIIC
−4.7%
Consistency
Years Profitable / 10Y
10
Valuation
Metric
Current
Earnings Multiples
P/E (TTM)
21.60
Forward P/E
20.49
P/E ex-NRI
21.37
Shiller P/E (CAPE)
30.17
Cash Flow Multiples
P/FCF
22.88
P/OCF
16.78
P/Owner Earnings
31.60
FCF Yield
4.53%
Enterprise Value Multiples
EV / EBIT
17.63
EV / Forward EBIT
17.06
EV / EBITDA
14.72
EV / Forward EBITDA
14.35
EV / Revenue
2.21
EV / Forward Revenue
2.15
Asset / Sales
P/S
1.98
P/B
9.60
P/Tangible Book
11.43
Growth-Adjusted
PEG
0.93
Capital Returns
Metric
Current
Dividends
Dividend Yield (TTM)
0.00%
Forward Dividend Yield
0.00%
3Y Dividend Growth
0.0%
Payout Ratio
0.00
5Y Yield on Cost
0.00%
Buybacks & Dilution
3Y Buyback Ratio
4.30%
5Y Share Change
−21.1%
Combined
Shareholder Yield
3.62%
Balance Sheet
Metric
Current
Leverage
Debt / Equity
0.96
Gross Debt / EBITDA
1.30
Cash / Debt
0.09
Equity / Assets
0.38
Coverage
Interest Coverage
156.49
Short-Term Liquidity
Current Ratio
1.35
Quick Ratio
0.29
Cash Ratio
0.09
Composite Scores
Piotroski F-Score
6
Altman Z-Score
6.32
Split History
Date
Split
No split history found.
Date
Transcript
Type
2026-09-10
Ulta Beauty Inc at Barclays Global Consumer Conference Transcript
Conference Presentations
2026-08-27
Q2 2026 Ulta Beauty Inc Earnings Call Transcript
Earnings Call
2026-06-04
Ulta Beauty Inc at William Blair Growth Stock Conference Transcript
Conference Presentations
2026-06-02
Q1 2026 Ulta Beauty Inc Earnings Call Transcript
Earnings Call
2026-04-08
Ulta Beauty Inc at JPMorgan Retail Round Up Transcript
Conference Presentations
2026-03-12
Q4 2025 Ulta Beauty Inc Earnings Call Transcript
Earnings Call
2025-12-04
Q3 2025 Ulta Beauty Inc Earnings Call Transcript
Earnings Call
2025-08-28
Q2 2025 Ulta Beauty Inc Earnings Call Transcript
Earnings Call
2025-05-29
Q1 2025 Ulta Beauty Inc Earnings Call Transcript
Earnings Call
2025-03-13
Q4 2024 Ulta Beauty Inc Earnings Call Transcript
Earnings Call
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5-Step DuPont Analysis
ROE %
46.34%
×
×
Net Margin %
9.39%
×
×
Operating Margin %
12.60%
Operating Income
$1.63B
÷
Revenue
$12.96B
×
Tax Burden
0.7581
Net Income
$1.22B
÷
Pretax Income
$1.60B
×
Interest Burden
0.9828
Pretax Income
$1.60B
÷
Operating Income
$1.63B
×
Asset Turnover
1.91
÷
Revenue
$12.96B
÷
Average Total Assets
$6.80B
Begin Total Assets
$6.63B
End Total Assets
$6.96B
×
Equity Multiplier
2.59
÷
Avg Total Assets
$6.80B
÷
Avg Stockholders Equity
$2.62B
Begin Equity
$2.60B
End Equity
$2.64B
Top institutional holders
Q2 2026| Holder | Shares | % Owned | Chg. shares | |
|---|---|---|---|---|
| BlackRock, Inc. | 4.0M | 9.08% | -39.7K | $1.82B |
| VANGUARD CAPITAL MANAGEMENT LLC | 2.8M | 6.41% | -38.8K | $1.28B |
| Sanders Capital, LLC | 2.5M | 5.55% | +552.8K | $1.11B |
| STATE STREET CORP | 2.0M | 4.56% | +22.0K | $913.06M |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 1.9M | 4.38% | -17.6K | $875.99M |
| PRICE T ROWE ASSOCIATES INC /MD/ | 1.5M | 3.45% | +544.7K | — |
| GEODE CAPITAL MANAGEMENT, LLC | 1.2M | 2.78% | -38.3K | $555.29M |
| MORGAN STANLEY | 1.0M | 2.35% | -78.4K | $469.78M |
| T. Rowe Price Investment Management, Inc. | 871.8K | 1.97% | -98.6K | — |
| FRANKLIN RESOURCES INC | 848.9K | 1.91% | +220.3K | $382.82M |
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View allTop insider holdings
as reported| Insider | Shares held | % Owned | |
|---|---|---|---|
| Steelman KeciaOfficer | 40.5K | 0.0913% | $24.01M |
| DelOrefice ChristopherOfficer | 9.7K | 0.0218% | $5.75M |
| Ryan Anita JaneOfficer | 9.1K | 0.0206% | $5.42M |
| Caro Jodi JOfficer | 7.6K | 0.0172% | $4.53M |
| Nagler LornaDirector | 7.2K | 0.0162% | $4.25M |
| Oyibo Paula MOfficer | 5.8K | 0.0130% | $3.41M |
| GARCIA KELLY EOfficer | 5.1K | 0.0115% | $3.01M |
| Lialios ChristopherOfficer | 3.5K | 0.0080% | $2.10M |
| Casares Rene G.Officer | 3.1K | 0.0070% | $1.85M |
| MRKONIC GEORGE R JRDirector | — | — | — |
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View allRecent insider activity
through Sep 17, 2026| Insider | Action | Shares | Date | |
|---|---|---|---|---|
| Steelman KeciaOfficer | Open-Market or Private Sale | -2.0K | $1.09M | Sep 17, 2026 |
| Nagler LornaDirector | Open-Market or Private Sale | -600 | $322.4K | Sep 11, 2026 |
| GARCIA KELLY EOfficer | Grant/Award (Rule 16b-3(d)) | +2.9K | $0 | Sep 1, 2026 |
| Olson Brieane LeeDirector | Grant/Award (Rule 16b-3(d)) | +271 | $0 | Sep 1, 2026 |
| MRKONIC GEORGE R JRDirector | Open-Market or Private Sale | -383 | $182.2K | Jun 15, 2026 |
| Smith Mike C.Director | Grant/Award (Rule 16b-3(d)) | +404 | $0 | Jun 10, 2026 |
| Nagler LornaDirector | Grant/Award (Rule 16b-3(d)) | +404 | $0 | Jun 10, 2026 |
| MRKONIC GEORGE R JRDirector | Grant/Award (Rule 16b-3(d)) | +404 | $0 | Jun 10, 2026 |
| Landry Stephenie LeeDirector | Grant/Award (Rule 16b-3(d)) | +404 | $0 | Jun 10, 2026 |
| Halligan Catherine AnnDirector | Grant/Award (Rule 16b-3(d)) | +404 | $0 | Jun 10, 2026 |
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