Cash flow Ulta Beauty, Inc.

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ULTA

US90384S3031

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Real-time Estimate Cboe BZX Other stock markets 17:54:52 16/07/2026 BST			5-day change	1st Jan Change
477.68 ^USD	+2.48%		+3.84%	-21.01%

07-14	Ulta Beauty Names Kelly Garcia Chief Technology Officer	MT
07-14	Ulta Beauty, Inc. Appoints Kelly Garcia as Chief Technology Officer, Effective August 31, 2026	CI

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Published financial data: ULTA BEAUTY, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: January	2022	2023	2024	2025	2026
Revenues	8.63B	10.21B	11.21B	11.3B	12.39B
Total Revenues	8.63B	10.21B	11.21B	11.3B	12.39B
Cost of Goods Sold, Total	4.87B	5.76B	6.39B	6.46B	7.06B
Gross Profit	3.76B	4.45B	4.81B	4.83B	5.33B
Selling General & Admin Expenses, Total	2.45B	2.8B	3.13B	3.25B	3.79B
Pre-Opening Costs	9.52M	10.6M	8.51M	13.69M	15.82M
Other Operating Expenses, Total	2.46B	2.81B	3.14B	3.27B	3.8B
Operating Income	1.29B	1.64B	1.68B	1.56B	1.53B
Interest Expense, Total	-1.66M	-	-	-	-1.79M
Interest And Investment Income	-	4.93M	17.62M	15.09M	-
Net Interest Expenses	-1.66M	4.93M	17.62M	15.09M	-1.79M
Income (Loss) On Equity Invest.	-	-	-	-	-3.86M
EBT, Excl. Unusual Items	1.29B	1.64B	1.7B	1.58B	1.53B
Restructuring Charges	-	-	-	-	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	4.02M	-	-	-	-
EBT, Incl. Unusual Items	1.3B	1.64B	1.7B	1.58B	1.53B
Income Tax Expense	310M	401M	405M	379M	374M
Earnings From Continuing Operations	986M	1.24B	1.29B	1.2B	1.15B
Net Income to Company	986M	1.24B	1.29B	1.2B	1.15B
Net Income - (IS)	986M	1.24B	1.29B	1.2B	1.15B
Net Income to Common Incl Extra Items	986M	1.24B	1.29B	1.2B	1.15B
Net Income to Common Excl. Extra Items	986M	1.24B	1.29B	1.2B	1.15B
Per Share Items
Net EPS - Basic	18.09	24.17	26.18	25.44	25.72
Basic EPS - Continuing Operations	18.09	24.17	26.18	25.44	25.72
Basic Weighted Average Shares Outstanding	54.48M	51.4M	49.3M	47.21M	44.84M
Net EPS - Diluted	17.98	24.01	26.03	25.34	25.64
Diluted EPS - Continuing Operations	17.98	24.01	26.03	25.34	25.64
Diluted Weighted Average Shares Outstanding	54.84M	51.74M	49.6M	47.4M	44.99M
Normalized Basic EPS	14.82	19.98	21.49	20.92	21.29
Normalized Diluted EPS	14.72	19.85	21.37	20.83	21.22
American Depositary Receipts Ratio (ADR)	0.05	0.05	0.05	0.05	0.05
Supplemental Items
EBITDA	1.56B	1.88B	1.92B	1.83B	1.83B
EBITA	1.29B	1.64B	1.68B	1.56B	1.53B
EBIT	1.29B	1.64B	1.68B	1.56B	1.53B
EBITDAR	1.95B	2.28B	2.35B	2.28B	2.32B
Effective Tax Rate - (Ratio)	23.92	24.41	23.86	23.98	24.48
Current Domestic Taxes	336M	385M	374M	422M	372M
Current Foreign Taxes	-	-	-	-	3.9M
Total Current Taxes	336M	385M	374M	422M	376M
Deferred Domestic Taxes	-25.67M	15.65M	30.58M	-43.33M	-2.14M
Deferred Foreign Taxes	-	-	-	-	508K
Total Deferred Taxes	-25.67M	15.65M	30.58M	-43.33M	-1.64M
Normalized Net Income	807M	1.03B	1.06B	988M	955M
Supplemental Operating Expense Items
Advertising Expense	388M	375M	423M	431M	491M
Selling and Marketing Expenses	-	375M	423M	431M	491M
Research And Development Expense From Footnotes	926K	1.01M	889K	306K	204K
Net Rental Expense, Total	389M	405M	433M	446M	490M
Imputed Operating Lease Interest Expense	2.76M	-	-	-	3.41M
Imputed Operating Lease Depreciation	386M	-	-	-	487M
Stock-Based Comp., SG&A Exp. (Total)	47.26M	43.04M	48.25M	42.79M	37.43M
Total Stock-Based Compensation	47.26M	43.04M	48.25M	42.79M	37.43M

Fiscal Period: January	2022	2023	2024	2025	2026
Assets
Cash And Equivalents	432M	738M	767M	703M	424M
Short Term Investments	-	-	-	-	70M
Total Cash And Short Term Investments	432M	738M	767M	703M	494M
Accounts Receivable, Total	234M	199M	208M	223M	296M
Total Receivables	234M	199M	208M	223M	296M
Inventory	1.5B	1.64B	1.78B	2.01B	2.23B
Prepaid Expenses	111M	9.47M	27.56M	19.99M	24.64M
Other Current Assets, Total	5.91M	119M	54.45M	68.66M	104M
Total Current Assets	2.28B	2.71B	2.84B	3.03B	3.14B
Gross Property Plant And Equipment	4.12B	4.42B	4.77B	5B	5.66B
Accumulated Depreciation	-1.72B	-1.85B	-2.01B	-2.15B	-2.41B
Net Property Plant And Equipment	2.4B	2.57B	2.76B	2.85B	3.25B
Long-term Investments	2.67M	-	-	-	-
Goodwill	10.87M	10.87M	10.87M	10.87M	226M
Other Intangibles, Total	1.54M	1.31M	510K	204K	203M
Deferred Charges Long-Term	22.6M	28.54M	39.67M	39.34M	63.51M
Other Long-Term Assets, Total	48.79M	49.85M	62.58M	73.31M	115M
Total Assets	4.76B	5.37B	5.71B	6B	7B
Liabilities
Accounts Payable, Total	553M	560M	544M	564M	686M
Accrued Expenses, Total	365M	444M	340M	367M	517M
Short-term Borrowings	-	-	-	-	62.29M
Current Portion of Leases	274M	283M	284M	288M	307M
Current Income Taxes Payable	12.79M	-	11.31M	46.78M	35.74M
Unearned Revenue Current, Total	354M	395M	437M	501M	582M
Other Current Liabilities	-	-	42.26M	13.6M	33.88M
Total Current Liabilities	1.56B	1.68B	1.66B	1.78B	2.22B
Long-Term Leases	1.57B	1.62B	1.63B	1.64B	1.81B
Deferred Tax Liability Non Current	39.69M	55.35M	85.92M	42.59M	98.77M
Other Non Current Liabilities	58.66M	53.6M	56.3M	56.15M	59.63M
Total Liabilities	3.23B	3.41B	3.43B	3.51B	4.2B
Common Stock, Total	530K	511K	491K	468K	450K
Additional Paid In Capital	935M	1.02B	1.08B	1.12B	1.18B
Retained Earnings	653M	996M	1.29B	1.47B	1.74B
Treasury Stock	-53.48M	-60.47M	-83.03M	-107M	-120M
Comprehensive Income and Other	-	-	-	-	3.76M
Total Common Equity	1.54B	1.96B	2.28B	2.49B	2.8B
Total Equity	1.54B	1.96B	2.28B	2.49B	2.8B
Total Liabilities And Equity	4.76B	5.37B	5.71B	6B	7B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	52.33M	50.2M	48.27M	45.31M	43.74M
ECS Total Common Shares Outstanding	52.31M	50.36M	48.32M	45.96M	44.17M
Book Value / Share	29.35	38.91	47.17	54.14	63.48
Tangible Book Value	1.52B	1.95B	2.27B	2.48B	2.37B
Tangible Book Value Per Share	29.11	38.67	46.93	53.89	53.75
Total Debt	1.85B	1.9B	1.91B	1.92B	2.18B
Net Debt	1.42B	1.17B	1.14B	1.22B	1.69B
Debt Equivalent Oper. Leases	3.11B	3.24B	3.46B	3.57B	3.92B
Equity Method Investments, Total	2.67M	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	1.53B	1.64B	1.79B	2.01B	2.23B
Machinery, Total	1.73B	1.81B	2.07B	2.27B	2.58B
Full Time Employees	16.5K	18.5K	20K	20K	21.38K
Part Time Employees	24K	34.5K	36K	38K	45.44K
Accumulated Allowance for Doubtful Accounts (Supple)	1M	1.08M	635K	1.4M	637K

Fiscal Period: January	2022	2023	2024	2025	2026
Net Income	986M	1.24B	1.29B	1.2B	1.15B
Depreciation & Amortization - CF	268M	240M	243M	267M	301M
Depreciation & Amortization, Total	268M	240M	243M	267M	301M
Amortization of Deferred Charges, Total - (CF)	926K	1.01M	889K	306K	204K
(Gain) Loss From Sale Of Asset	5.36M	6.69M	11.42M	11.57M	11M
Asset Writedown & Restructuring Costs	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-	-	-	3.86M
Stock-Based Compensation (CF)	47.26M	43.04M	48.25M	42.79M	37.43M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	251M	318M	363M	267M	348M
Change In Accounts Receivable	-40.57M	34.26M	-8.52M	-15.4M	-71.38M
Change In Inventories	-331M	-104M	-139M	-226M	-136M
Change In Accounts Payable	66.16M	8.31M	-20.87M	30.3M	89.06M
Change in Unearned Revenues	79.2M	41.1M	41.91M	63.99M	73.36M
Change In Income Taxes	-35.65M	-45.18M	45.37M	34.77M	-9.2M
Change in Other Net Operating Assets	-236M	-303M	-401M	-339M	-298M
Cash from Operations	1.06B	1.48B	1.48B	1.34B	1.5B
Capital Expenditure	-172M	-312M	-435M	-374M	-435M
Cash Acquisitions	-	-	-	-	-387M
Investment in Marketable and Equity Securities, Total	-4.3M	-2.46M	-6.16M	-8.63M	-110M
Cash from Investing	-176M	-315M	-441M	-383M	-931M
Short Term Debt Issued, Total	-	-	195M	200M	2.21B
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	195M	200M	2.21B
Short Term Debt Repaid, Total	-	-	-195M	-200M	-2.18B
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-	-195M	-200M	-2.18B
Issuance of Common Stock	40.39M	46.01M	12.18M	12.34M	32.56M
Repurchase of Common Stock	-1.54B	-907M	-1.02B	-1.03B	-915M
Other Financing Activities, Total	-	-	-	-4.16M	-763K
Cash from Financing	-1.5B	-861M	-1.01B	-1.02B	-851M
Foreign Exchange Rate Adjustments	-56K	-	-	-	274K
Net Change in Cash	-614M	306M	28.72M	-63.39M	-279M
Supplemental Items
Cash Interest Paid	2.13M	2.14M	3.33M	4.16M	9.67M
Cash Income Tax Paid (Refund)	371M	430M	328M	386M	382M
Levered Free Cash Flow	764M	989M	783M	775M	900M
Unlevered Free Cash Flow	765M	989M	783M	775M	901M
Change In Net Working Capital	187M	7.21M	123M	139M	-39.72M
Net Debt Issued / Repaid	-	-	0	0	32.57M

Fiscal Period: January	2022	2023	2024	2025	2026
Profitability
Return on Assets	16.41	20.21	18.94	16.71	14.74
Return on Total Capital	22.21	28.27	26.05	22.74	20.39
Return On Equity %	55.78	71.09	60.91	50.39	43.59
Return on Common Equity	55.78	71.09	60.91	50.39	43.59
Margin Analysis
Gross Profit Margin %	43.54	43.59	42.95	42.78	43.05
SG&A Margin	28.44	27.44	27.91	28.81	30.55
EBITDA Margin %	18.09	18.41	17.14	16.22	14.8
EBITA Margin %	14.99	16.05	14.97	13.85	12.37
EBIT Margin %	14.99	16.05	14.97	13.85	12.37
Income From Continuing Operations Margin %	11.42	12.17	11.52	10.63	9.31
Net Income Margin %	11.42	12.17	11.52	10.63	9.31
Net Avail. For Common Margin %	11.42	12.17	11.52	10.63	9.31
Normalized Net Income Margin	9.35	10.06	9.46	8.74	7.7
Levered Free Cash Flow Margin	8.85	9.69	6.99	6.86	7.26
Unlevered Free Cash Flow Margin	8.86	9.69	6.99	6.86	7.27
Asset Turnover
Asset Turnover	1.75	2.01	2.02	1.93	1.91
Fixed Assets Turnover	3.52	4.11	4.21	4.03	4.07
Receivables Turnover (Average Receivables)	40.45	47.14	55.02	52.38	47.71
Inventory Turnover (Average Inventory)	3.65	3.62	3.73	3.41	3.33
Short Term Liquidity
Current Ratio	1.46	1.61	1.71	1.7	1.41
Quick Ratio	0.43	0.56	0.59	0.52	0.36
Operating Cash Flow to Current Liabilities	0.68	0.88	0.89	0.75	0.68
Days Sales Outstanding (Average Receivables)	9	7.72	6.74	6.95	7.63
Days Outstanding Inventory (Average Inventory)	99.62	100.64	99.34	106.83	109.31
Average Days Payable Outstanding	36.01	34.53	31.35	30.11	31.28
Cash Conversion Cycle (Average Days)	72.61	73.83	74.73	83.67	85.66
Long Term Solvency
Total Debt/Equity	120.28	97.11	83.84	77.29	77.83
Total Debt / Total Capital	54.6	49.27	45.61	43.6	43.77
LT Debt/Equity	102.43	82.66	71.39	65.71	64.67
Long-Term Debt / Total Capital	46.5	41.93	38.83	37.06	36.37
Total Liabilities / Total Assets	67.77	63.51	60.06	58.54	59.95
EBIT / Interest Expense	777.79	-	-	-	857.86
EBITDA / Interest Expense	1.17K	-	-	-	1.3K
(EBITDA - Capex) / Interest Expense	1.07K	-	-	-	1.06K
Total Debt / EBITDA	0.95	0.83	0.81	0.84	0.94
Net Debt / EBITDA	0.73	0.51	0.49	0.54	0.73
Total Debt / (EBITDA - Capex)	1.04	0.97	1	1.01	1.16
Net Debt / (EBITDA - Capex)	0.8	0.59	0.6	0.64	0.89
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	40.3	18.28	9.78	0.79	9.71
Gross Profit, 1 Yr. Growth %	60.96	18.43	8.18	0.38	10.39
EBITDA, 1 Yr. Growth %	162.1	20.37	2.24	-4.65	0.1
EBITA, 1 Yr. Growth %	332.98	26.68	2.41	-6.74	-2.04
EBIT, 1 Yr. Growth %	332.98	26.68	2.41	-6.74	-2.04
Earnings From Cont. Operations, 1 Yr. Growth %	460.66	26.03	3.91	-6.96	-3.97
Net Income, 1 Yr. Growth %	460.66	26.03	3.91	-6.96	-3.97
Normalized Net Income, 1 Yr. Growth %	340.89	27.23	3.17	-6.82	-3.34
Diluted EPS Before Extra, 1 Yr. Growth %	478.14	33.54	8.41	-2.65	1.18
Accounts Receivable, 1 Yr. Growth %	21.01	-14.66	4.27	7.4	32.63
Inventory, 1 Yr. Growth %	28.33	6.73	8.28	13.13	10.52
Net Property, Plant and Equip., 1 Yr. Growth %	-4.15	7.25	7.25	3.35	13.97
Total Assets, 1 Yr. Growth %	-6.4	12.72	6.27	5.16	16.62
Tangible Book Value, 1 Yr. Growth %	-23.32	27.88	16.45	9.23	-4.18
Common Equity, 1 Yr. Growth %	-23.21	27.64	16.3	9.17	12.66
Cash From Operations, 1 Yr. Growth %	30.72	39.9	-0.38	-9.32	12.26
Capital Expenditures, 1 Yr. Growth %	13.38	81.27	39.45	-13.97	16.12
Levered Free Cash Flow, 1 Yr. Growth %	20.53	29.54	-20.85	-1.05	16.17
Unlevered Free Cash Flow, 1 Yr. Growth %	20.01	29.37	-20.85	-1.05	16.32
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	8.01	28.82	13.95	5.19	5.16
Gross Profit, 2 Yr. CAGR %	11.05	38.07	13.19	4.21	5.27
EBITDA, 2 Yr. CAGR %	14.26	70.28	10.79	-1.27	-2.3
EBITA, 2 Yr. CAGR %	19.81	116.02	13.72	-2.27	-4.42
EBIT, 2 Yr. CAGR %	19.81	116.02	13.72	-2.27	-4.42
Earnings From Cont. Operations, 2 Yr. CAGR %	18.17	165.82	14.44	-1.68	-5.48
Net Income, 2 Yr. CAGR %	18.17	165.82	14.44	-1.68	-5.48
Normalized Net Income, 2 Yr. CAGR %	19.4	118.13	14.39	-1.95	-5.09
Diluted EPS Before Extra, 2 Yr. CAGR %	21.65	177.85	20.32	2.73	-0.75
Accounts Receivable, 2 Yr. CAGR %	29.5	1.62	-5.67	5.83	19.35
Inventory, 2 Yr. CAGR %	7.65	18.63	7.5	10.68	11.82
Net Property, Plant and Equip., 2 Yr. CAGR %	-6.53	1.39	7.25	5.28	8.53
Total Assets, 2 Yr. CAGR %	-1.03	2.72	9.45	5.71	10.74
Tangible Book Value, 2 Yr. CAGR %	-10.18	-0.98	22.03	12.78	2.31
Common Equity, 2 Yr. CAGR %	-10.16	-1	21.84	12.68	10.9
Cash From Operations, 2 Yr. CAGR %	-1.93	35.23	18.05	-4.96	0.89
Capital Expenditures, 2 Yr. CAGR %	-24.05	43.36	58.99	9.53	-0.05
Levered Free Cash Flow, 2 Yr. CAGR %	11.66	21.85	1.09	-11.5	7.22
Unlevered Free Cash Flow, 2 Yr. CAGR %	11.74	21.52	1.03	-11.5	7.28
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	8.72	11.33	22.13	9.38	6.68
Gross Profit, 3 Yr. CAGR %	15.97	13.46	27.28	8.75	6.23
EBITDA, 3 Yr. CAGR %	11.27	16.26	43.65	5.38	-0.81
EBITA, 3 Yr. CAGR %	14.84	22.06	68.44	6.45	-2.2
EBIT, 3 Yr. CAGR %	14.84	22.06	68.44	6.45	-2.2
Earnings From Cont. Operations, 3 Yr. CAGR %	14.39	20.73	94.36	6.81	-2.45
Net Income, 3 Yr. CAGR %	14.39	20.73	94.36	6.81	-2.45
Normalized Net Income, 3 Yr. CAGR %	14.56	21.95	69.96	6.83	-2.41
Diluted EPS Before Extra, 3 Yr. CAGR %	18.01	25.49	103.04	12.12	2.21
Accounts Receivable, 3 Yr. CAGR %	19.72	12.69	2.5	-1.5	14.1
Inventory, 3 Yr. CAGR %	7.28	8.31	15.07	9.34	10.62
Net Property, Plant and Equip., 3 Yr. CAGR %	25.04	-2.14	3.31	5.93	8.1
Total Assets, 3 Yr. CAGR %	14.29	3.36	3.89	8	9.23
Tangible Book Value, 3 Yr. CAGR %	-5.51	1.04	4.52	17.61	6.82
Common Equity, 3 Yr. CAGR %	-5.51	1	4.46	17.46	12.67
Cash From Operations, 3 Yr. CAGR %	3.47	10.4	22.13	8.11	0.47
Capital Expenditures, 3 Yr. CAGR %	-18.61	1.5	42.05	29.56	11.69
Levered Free Cash Flow, 3 Yr. CAGR %	15.65	17.33	5.53	0.38	-3.1
Unlevered Free Cash Flow, 3 Yr. CAGR %	15.71	17.33	5.34	0.33	-3.06
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	12.2	11.65	10.78	8.83	15.04
Gross Profit, 5 Yr. CAGR %	16.55	16.24	14.85	9.66	17.97
EBITDA, 5 Yr. CAGR %	12.53	12.6	11.13	8.9	23.12
EBITA, 5 Yr. CAGR %	14.58	15.85	14.46	11.67	34.28
EBIT, 5 Yr. CAGR %	14.58	15.85	14.46	11.67	34.28
Earnings From Cont. Operations, 5 Yr. CAGR %	19.19	17.48	14.41	11.21	45.67
Net Income, 5 Yr. CAGR %	19.19	17.48	14.41	11.21	45.67
Normalized Net Income, 5 Yr. CAGR %	14.52	15.87	14.57	11.76	34.62
Diluted EPS Before Extra, 5 Yr. CAGR %	22.49	21.79	18.93	15.84	52.49
Accounts Receivable, 5 Yr. CAGR %	21.4	14.87	8.84	9.89	8.93
Inventory, 5 Yr. CAGR %	9.69	8.44	7.95	9.25	13.76
Net Property, Plant and Equip., 5 Yr. CAGR %	19	16.66	17.59	0.76	5.37
Total Assets, 5 Yr. CAGR %	13.3	13.05	12.33	4.29	6.58
Tangible Book Value, 5 Yr. CAGR %	-0.35	1.88	4.67	5.58	3.63
Common Equity, 5 Yr. CAGR %	-0.19	2.01	4.6	5.52	6.99
Cash From Operations, 5 Yr. CAGR %	10.8	13.71	9.08	3.98	13.15
Capital Expenditures, 5 Yr. CAGR %	-14.34	-6.67	6.39	4.64	23.42
Levered Free Cash Flow, 5 Yr. CAGR %	34.01	30.14	9.67	4.82	6.2
Unlevered Free Cash Flow, 5 Yr. CAGR %	34.05	30.14	9.67	4.82	6.11