Cash flow Ulta Beauty, Inc.

Equities

ULTA

US90384S3031

Other Specialty Retailers

Market Closed - Nasdaq Other stock markets 21:00:00 04/10/2024 BST			5-day change	1st Jan Change
381.80 ^USD	+2.44%		-5.50%	-22.08%

10-03	TD Cowen Adjusts Price Target on Ulta Beauty to $390 From $395, Maintains Hold Rating	MT
10-02	Ulta Beauty Analyst Day Will Likely Be Positive Catalyst, UBS Says	MT

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Published financial data: ULTA BEAUTY, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: February	2020	2021	2022	2023	2024
Revenues	7.4B	6.15B	8.63B	10.21B	11.21B
Total Revenues	7.4B	6.15B	8.63B	10.21B	11.21B
Cost of Goods Sold, Total	4.4B	3.82B	4.87B	5.76B	6.39B
Gross Profit	3B	2.33B	3.76B	4.45B	4.81B
Selling General & Admin Expenses, Total	2.08B	2.02B	2.45B	2.8B	3.13B
Pre-Opening Costs	19.25M	15M	9.52M	10.6M	8.51M
Other Operating Expenses, Total	2.1B	2.04B	2.46B	2.81B	3.14B
Operating Income	901M	299M	1.29B	1.64B	1.68B
Interest Expense, Total	-	-5.74M	-1.66M	-	-
Interest And Investment Income	5.06M	-	-	4.93M	17.62M
Net Interest Expenses	5.06M	-5.74M	-1.66M	4.93M	17.62M
EBT, Excl. Unusual Items	906M	293M	1.29B	1.64B	1.7B
Restructuring Charges	-	-72.37M	-	-	-
Asset Writedown	-	-41.95M	-	-	-
Other Unusual Items	-	52.4M	4.02M	-	-
EBT, Incl. Unusual Items	906M	231M	1.3B	1.64B	1.7B
Income Tax Expense	200M	55.25M	310M	401M	405M
Earnings From Continuing Operations	706M	176M	986M	1.24B	1.29B
Net Income to Company	706M	176M	986M	1.24B	1.29B
Net Income - (IS)	706M	176M	986M	1.24B	1.29B
Net Income to Common Incl Extra Items	706M	176M	986M	1.24B	1.29B
Net Income to Common Excl. Extra Items	706M	176M	986M	1.24B	1.29B
Per Share Items
Net EPS - Basic	12.21	3.12	18.09	24.17	26.18
Basic EPS - Continuing Operations	12.21	3.12	18.09	24.17	26.18
Basic Weighted Average Shares Outstanding	57.84M	56.35M	54.48M	51.4M	49.3M
Net EPS - Diluted	12.15	3.11	17.98	24.01	26.03
Diluted EPS - Continuing Operations	12.15	3.11	17.98	24.01	26.03
Diluted Weighted Average Shares Outstanding	58.1M	56.56M	54.84M	51.74M	49.6M
Normalized Basic EPS	9.79	3.25	14.82	19.98	21.49
Normalized Diluted EPS	9.75	3.24	14.72	19.85	21.37
American Depositary Receipts Ratio (ADR)	0.05	0.05	0.05	0.05	0.05
Supplemental Items
EBITDA	1.2B	596M	1.56B	1.88B	1.92B
EBITA	901M	299M	1.29B	1.64B	1.68B
EBIT	901M	299M	1.29B	1.64B	1.68B
EBITDAR	1.51B	981M	1.95B	2.28B	2.35B
Effective Tax Rate - (Ratio)	22.09	23.91	23.92	24.41	23.86
Current Domestic Taxes	195M	79.26M	336M	385M	374M
Total Current Taxes	195M	79.26M	336M	385M	374M
Deferred Domestic Taxes	5.5M	-24.01M	-25.67M	15.65M	30.58M
Total Deferred Taxes	5.5M	-24.01M	-25.67M	15.65M	30.58M
Normalized Net Income	566M	183M	807M	1.03B	1.06B
Supplemental Operating Expense Items
Advertising Expense	318M	282M	388M	375M	423M
Selling and Marketing Expenses	-	-	-	375M	423M
Research And Development Expense From Footnotes	926K	926K	926K	1.01M	889K
Net Rental Expense, Total	318M	385M	389M	405M	433M
Imputed Operating Lease Interest Expense	-	9.21M	2.76M	-	-
Imputed Operating Lease Depreciation	-	376M	386M	-	-
Stock-Based Comp., SG&A Exp. (Total)	25.64M	27.58M	47.26M	43.04M	48.25M
Total Stock-Based Compensation	25.64M	27.58M	47.26M	43.04M	48.25M

Fiscal Period: February	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	392M	1.05B	432M	738M	767M
Short Term Investments	110M	-	-	-	-
Total Cash And Short Term Investments	502M	1.05B	432M	738M	767M
Accounts Receivable, Total	139M	193M	234M	199M	208M
Total Receivables	139M	193M	234M	199M	208M
Inventory	1.29B	1.17B	1.5B	1.64B	1.78B
Prepaid Expenses	104M	107M	111M	9.47M	27.56M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	16.39M	-	5.91M	119M	54.45M
Total Current Assets	2.06B	2.51B	2.28B	2.71B	2.84B
Gross Property Plant And Equipment	4.1B	4.07B	4.12B	4.42B	4.77B
Accumulated Depreciation	-1.36B	-1.57B	-1.72B	-1.85B	-2.01B
Net Property Plant And Equipment	2.74B	2.5B	2.4B	2.57B	2.76B
Long-term Investments	3.94M	3.17M	2.67M	-	-
Goodwill	10.87M	10.87M	10.87M	10.87M	10.87M
Other Intangibles, Total	3.39M	2.46M	1.54M	1.31M	510K
Deferred Charges Long-Term	-	-	22.6M	28.54M	39.67M
Other Long-Term Assets, Total	47.27M	58.27M	48.79M	49.85M	62.58M
Total Assets	4.86B	5.09B	4.76B	5.37B	5.71B
Liabilities
Accounts Payable, Total	414M	477M	553M	560M	544M
Accrued Expenses, Total	207M	296M	365M	444M	340M
Current Portion of Leases	240M	253M	274M	283M	284M
Current Income Taxes Payable	39.05M	42.53M	12.79M	-	11.31M
Unearned Revenue Current, Total	238M	274M	354M	395M	437M
Other Current Liabilities	-	-	-	-	42.26M
Total Current Liabilities	1.14B	1.34B	1.56B	1.68B	1.66B
Long-Term Leases	1.7B	1.64B	1.57B	1.62B	1.63B
Deferred Tax Liability Non Current	89.37M	65.36M	39.69M	55.35M	85.92M
Other Non Current Liabilities	36.43M	37.96M	58.66M	53.6M	56.3M
Total Liabilities	2.96B	3.09B	3.23B	3.41B	3.43B
Common Stock, Total	573K	569K	530K	511K	491K
Additional Paid In Capital	807M	847M	935M	1.02B	1.08B
Retained Earnings	1.13B	1.19B	653M	996M	1.29B
Treasury Stock	-34.45M	-37.8M	-53.48M	-60.47M	-83.03M
Comprehensive Income and Other	-	56K	-	-	-
Total Common Equity	1.9B	2B	1.54B	1.96B	2.28B
Total Equity	1.9B	2B	1.54B	1.96B	2.28B
Total Liabilities And Equity	4.86B	5.09B	4.76B	5.37B	5.71B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	56.31M	56.21M	52.33M	50.2M	48.27M
ECS Total Common Shares Outstanding	56.61M	56.26M	52.31M	50.36M	48.32M
Book Value / Share	33.6	35.54	29.35	38.91	47.17
Tangible Book Value	1.89B	1.99B	1.52B	1.95B	2.27B
Tangible Book Value Per Share	33.35	35.3	29.11	38.67	46.93
Total Debt	1.94B	1.9B	1.85B	1.9B	1.91B
Net Debt	1.44B	851M	1.42B	1.17B	1.14B
Debt Equivalent Oper. Leases	2.54B	3.08B	3.11B	3.24B	3.46B
Equity Method Investments, Total	3.94M	3.17M	2.67M	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	1.34B	1.22B	1.53B	1.64B	1.79B
Machinery, Total	1.67B	1.73B	1.73B	1.81B	2.07B
Full Time Employees	18K	16K	16.5K	18.5K	20K
Part Time Employees	26K	21K	24K	34.5K	36K
Accumulated Allowance for Doubtful Accounts (Supple)	1.36M	768K	1M	1.08M	635K

Fiscal Period: February	2020	2021	2022	2023	2024
Net Income	706M	176M	986M	1.24B	1.29B
Depreciation & Amortization - CF	295M	297M	268M	240M	243M
Depreciation & Amortization, Total	295M	297M	268M	240M	243M
Amortization of Deferred Charges, Total - (CF)	926K	926K	926K	1.01M	889K
(Gain) Loss From Sale Of Asset	5.85M	6.83M	5.36M	6.69M	11.42M
Asset Writedown & Restructuring Costs	-	72.53M	-	-	-
Stock-Based Compensation (CF)	25.04M	27.58M	47.26M	43.04M	48.25M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	284M	244M	251M	318M	363M
Change In Accounts Receivable	-20.64M	-53.77M	-40.57M	34.26M	-8.52M
Change In Inventories	-79.37M	125M	-331M	-104M	-139M
Change In Accounts Payable	9.99M	62.32M	66.16M	8.31M	-20.87M
Change in Unearned Revenues	38.48M	36.85M	79.2M	41.1M	41.91M
Change In Income Taxes	610K	58.92M	-35.65M	-45.18M	45.37M
Change in Other Net Operating Assets	-165M	-244M	-236M	-303M	-401M
Cash from Operations	1.1B	810M	1.06B	1.48B	1.48B
Capital Expenditure	-299M	-152M	-172M	-312M	-435M
Cash Acquisitions	-	-1.22M	-	-	-
Investment in Marketable and Equity Securities, Total	-173M	104M	-4.3M	-2.46M	-6.16M
Cash from Investing	-471M	-48.75M	-176M	-315M	-441M
Short Term Debt Issued, Total	-	-	-	-	195M
Long-Term Debt Issued, Total	-	800M	-	-	-
Total Debt Issued	-	800M	-	-	195M
Short Term Debt Repaid, Total	-	-	-	-	-195M
Long-Term Debt Repaid, Total	-	-800M	-	-	-
Total Debt Repaid	-	-800M	-	-	-195M
Issuance of Common Stock	43.78M	12.23M	40.39M	46.01M	12.18M
Repurchase of Common Stock	-691M	-118M	-1.54B	-907M	-1.02B
Other Financing Activities, Total	-	-1.92M	-	-	-
Cash from Financing	-647M	-108M	-1.5B	-861M	-1.01B
Foreign Exchange Rate Adjustments	-	56K	-56K	-	-
Net Change in Cash	-16.93M	654M	-614M	306M	28.72M
Supplemental Items
Cash Interest Paid	-	6.99M	2.13M	2.14M	3.33M
Cash Income Tax Paid (Refund)	134M	19.45M	371M	430M	328M
Levered Free Cash Flow	612M	634M	764M	989M	783M
Unlevered Free Cash Flow	612M	637M	765M	989M	783M
Change In Net Working Capital	-26.51M	-277M	187M	7.21M	123M
Net Debt Issued / Repaid	-	0	-	-	0

Fiscal Period: February	2020	2021	2022	2023	2024
Profitability
Return on Assets	13.98	3.75	16.41	20.21	18.94
Return on Total Capital	19.9	4.83	22.21	28.27	26.05
Return On Equity %	37.93	9.01	55.78	71.09	60.91
Return on Common Equity	37.93	9.01	55.78	71.09	60.91
Margin Analysis
Gross Profit Margin %	40.54	37.95	43.54	43.59	42.95
SG&A Margin	28.1	32.85	28.44	27.44	27.91
EBITDA Margin %	16.16	9.68	18.09	18.41	17.14
EBITA Margin %	12.18	4.86	14.99	16.05	14.97
EBIT Margin %	12.18	4.86	14.99	16.05	14.97
Income From Continuing Operations Margin %	9.54	2.86	11.42	12.17	11.52
Net Income Margin %	9.54	2.86	11.42	12.17	11.52
Net Avail. For Common Margin %	9.54	2.86	11.42	12.17	11.52
Normalized Net Income Margin	7.66	2.98	9.35	10.06	9.46
Levered Free Cash Flow Margin	8.28	10.3	8.85	9.69	6.99
Unlevered Free Cash Flow Margin	8.28	10.36	8.86	9.69	6.99
Asset Turnover
Asset Turnover	1.84	1.24	1.75	2.01	2.02
Fixed Assets Turnover	3.73	2.35	3.52	4.11	4.21
Receivables Turnover (Average Receivables)	53.71	37.01	40.45	47.14	55.02
Inventory Turnover (Average Inventory)	3.51	3.1	3.65	3.62	3.73
Short Term Liquidity
Current Ratio	1.81	1.87	1.46	1.61	1.71
Quick Ratio	0.56	0.92	0.43	0.56	0.59
Operating Cash Flow to Current Liabilities	0.97	0.6	0.68	0.88	0.89
Days Sales Outstanding (Average Receivables)	6.78	9.83	9	7.72	6.74
Days Outstanding Inventory (Average Inventory)	103.77	117.37	99.62	100.64	99.34
Average Days Payable Outstanding	33.24	43.93	36.01	34.53	31.35
Cash Conversion Cycle (Average Days)	77.3	83.28	72.61	73.83	74.73
Long Term Solvency
Total Debt/Equity	101.91	94.86	120.28	97.11	83.84
Total Debt / Total Capital	50.47	48.68	54.6	49.27	45.61
LT Debt/Equity	89.31	82.19	102.43	82.66	71.39
Long-Term Debt / Total Capital	44.23	42.18	46.5	41.93	38.83
Total Liabilities / Total Assets	60.89	60.72	67.77	63.51	60.06
EBIT / Interest Expense	-	52.09	777.79	-	-
EBITDA / Interest Expense	-	170.99	1.17K	-	-
(EBITDA - Capex) / Interest Expense	-	144.51	1.07K	-	-
Total Debt / EBITDA	1.28	1.93	0.95	0.83	0.81
Net Debt / EBITDA	0.95	0.87	0.73	0.51	0.49
Total Debt / (EBITDA - Capex)	1.6	2.29	1.04	0.97	1
Net Debt / (EBITDA - Capex)	1.18	1.03	0.8	0.59	0.6
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	10.15	-16.84	40.3	18.28	9.78
Gross Profit, 1 Yr. Growth %	24.48	-23.39	60.96	18.43	8.18
EBITDA, 1 Yr. Growth %	5.52	-50.19	162.1	20.37	2.24
EBITA, 1 Yr. Growth %	5.5	-66.85	332.98	26.68	2.41
EBIT, 1 Yr. Growth %	5.5	-66.85	332.98	26.68	2.41
Earnings From Cont. Operations, 1 Yr. Growth %	7.2	-75.09	460.66	26.03	3.91
Net Income, 1 Yr. Growth %	7.2	-75.09	460.66	26.03	3.91
Normalized Net Income, 1 Yr. Growth %	5.47	-67.67	340.89	27.23	3.17
Diluted EPS Before Extra, 1 Yr. Growth %	11.06	-74.4	478.14	33.54	8.41
Accounts Receivable, 1 Yr. Growth %	2.33	38.59	21.01	-14.66	4.27
Inventory, 1 Yr. Growth %	6.54	-9.7	28.33	6.73	8.28
Net Property, Plant and Equip., 1 Yr. Growth %	123.74	-8.85	-4.15	7.25	7.25
Total Assets, 1 Yr. Growth %	52.42	4.65	-6.4	12.72	6.27
Tangible Book Value, 1 Yr. Growth %	4.59	5.21	-23.32	27.88	16.45
Common Equity, 1 Yr. Growth %	4.5	5.12	-23.21	27.64	16.3
Cash From Operations, 1 Yr. Growth %	15.18	-26.42	30.72	39.9	-0.38
Capital Expenditures, 1 Yr. Growth %	-6.53	-49.13	13.38	81.27	39.45
Levered Free Cash Flow, 1 Yr. Growth %	24.06	3.45	20.53	29.54	-20.85
Unlevered Free Cash Flow, 1 Yr. Growth %	24.06	4.04	20.01	29.37	-20.85
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	12.13	-4.3	8.01	28.82	13.95