ULTAUlta Beauty
$644.63+26% 1Y
$644.63
$450.7552 weeks$706.82
The business
How ULTA's business earns
Ulta Beauty earns 46% on the capital it employs against an estimated 9.0% cost of capital.
46%
Return on invested capital · cost of capital 9.0% · 37 points above the estimated cost of capital
- Operating margin
- 12%
Operating margin · Specialty Retail median 8.2% · 12 months to Aug 1, 2026
- Cash conversion
- 1.28×
Cash conversion · 1.08× a year ago · operating cash flow divided by operating profit after tax
- Share count, year on year
- −4.5%
Share count, year on year · fewer shares than a year ago
Operating margin by fiscal year
| Year | Operating margin |
|---|---|
| FY2020 | 3.9% |
| FY2021 | 15% |
| FY2022 | 16% |
| FY2023 | 15% |
| FY2024 | 14% |
| FY2025 | 12% |
Details›
- Gross margin12 months to Aug 1, 2026
- 39%
- Operating margin12 months to Aug 1, 2026
- 12%
- Net margin12 months to Aug 1, 2026
- 9.3%
- Free cash flow margin
- 8.9%
- Revenue, trailing twelve months
- $13.0B
- Free cash flow, trailing twelve months
- $1.15B
- Net income, trailing twelve months
- $1.21B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 46%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Specialty Retail
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