Fundamental analysis · SEC EDGAR · TTM through 02/05/2026

Fundamental analysis of Ulta Beauty, Inc.

ULTA · Nasdaq · Consumer

Fundamental quality

ATTRACTIVE

84

out of 100

Ulta Beauty, Inc. grows profitably: it increases revenue at double digits (14.8% a year) without giving up profitability (net margin 9.4%). On fundamental quality it scores 84 out of 100, profiling it as a company with solid fundamentals. Its weakest area is its profitability (net margin 9.4%). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.

What the company does

Ulta Beauty is America's beauty department store: luxury and drugstore makeup, skincare and hair salons under one roof, plus a loyalty program a large share of the country's women belong to.

What will shape its future

  • Beauty's resilience: lipstick gets bought even in bad stretches.
  • Its loyalty program, tens of millions of members whose data is gold.
  • Competition from Sephora inside Kohl's and from Amazon, attacking its turf.

Breakdown by area

I.Growth
95

EPS growth: 50.6% · Revenue growth: 14.8%

II.Profitability
75

Net margin: 9.4% · ROE: 46.1% · ROIC: 46.8%

III.Financial health
83

Net debt/EBITDA: -0.01x · FCF: 8.9%

Source: SEC EDGAR · TTM through 02/05/2026

The score combines growth, profitability and financial strength. Here its growth weighs in its favor, while its profitability drags it down the most.

Versus its sector

Percentile against the other 98 Consumer companies in our coverage: how far it beats them on each metric (100 = best in sector).

Net marginbeats 67%
ROEbeats 88%
Growthbeats 78%
Cash generationbeats 63%
Less debtbeats 78%

Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.

Key concepts

What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow

Ulta Beauty, Inc. strengths

  • Growing earnings per share (50.6% annualized).
  • Outstanding return on equity (ROE of 46.1%): it puts shareholder capital to good use.
  • Revenue growing (14.8% annualized).
  • Expanding margins: net margin has risen from 3% to 9% in recent years.

Ulta Beauty, Inc. risks and weaknesses

  • No clear weaknesses in the recent fundamentals, though the system doesn't assess qualitative factors (competition, regulation, management).

Ulta Beauty, Inc. historical evolution

YearRevenueNet incomeFree cash flowNet debt
20216,152176658-1,046
20228,631986887-432
202310,2091,2421,170-738
202411,2071,2911,041-767
202511,2961,201964-703
202612,3931,1531,068-362

Between 2021 and 2026, revenue went from $6,152M to $12,393M (+101%) and net income went from $176M to $1,153M (+556%). Meanwhile, its margins have widened (from 3% to 9%).

Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.

Latest results

Versus the same period a year earlier

Figures for the quarter ended May 2, 2026, versus the quarter ended May 3, 2025 (SEC filings):

  • Revenue+11.1%
  • Net income+11.6%

Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.

Dividend

$0

per share, yearly

36.2% of earnings

Payout

The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →

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Is Ulta Beauty, Inc. cheap or expensive?

That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).

Compute the valuation →

Frequently asked questions

Is Ulta Beauty, Inc. a good company to invest in?

In terms of business quality, Ulta Beauty, Inc. scores 84 out of 100 in our analysis, placing it as a company of high fundamental quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.

Is Ulta Beauty, Inc. a profitable company?

Ulta Beauty, Inc. is profitable, with a net margin of 9.4%, though a thin one.

Does Ulta Beauty, Inc. have a lot of debt?

No. Ulta Beauty, Inc. has a net cash position: more cash than debt.

Is Ulta Beauty, Inc. growing?

Its revenue has grown 14.8% annualized in recent years and its earnings per share 50.6%, and without interruption since 2021.

Does Ulta Beauty, Inc. generate cash?

Yes. It converts about 8.9% of its revenue into free cash flow, and has done so positively year after year.

The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.

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