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Friday 6 November 2026
Export ULTA’s income statement to Excel — free account
Ulta Beauty Inc.
ULTA Consumer Cyclical Specialty Retail
Ulta Beauty Inc.’s revenue for fiscal 2026 (year ended January 2026) was $12.4 billion, up 9.71% from fiscal 2025.
- Revenue
- +8.87%
- EPS
- +13.3%
- Free cash flow
- +96.5%
- Total debt
- +17.5%
Quarter to July 2026, against a year earlier
649.80
10.90
−1.65%
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| Jan '26 | Jan '25 | Jan '24 | Jan '23 | Jan '22 | Jan '21 | Jan '20 | Jan '19 | Jan '18 | Jan '17 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
6 | 5 | 7 | 9 | 8 | 6 | 6 | 8 | 7 | 8 |
P/E ratio |
25.87 | 16.17 | 19.17 | 21.26 | 20.06 | 90.45 | 21.94 | 26.49 | 24.60 | 41.57 |
P/S ratio |
2.41 | 1.72 | 2.21 | 2.59 | 2.30 | 2.59 | 2.09 | 2.60 | 2.32 | 3.51 |
Altman Z-Score |
7.15 | 6.66 | 7.83 | 8.04 | 6.77 | 5.03 | 5.82 | 11.53 | 11.10 | 13.92 |
Altman Z″-Score (non-manufacturers) |
3.84 | 4.66 | 4.76 | 4.51 | 3.77 | 3.26 | 3.91 | 6.57 | 7.05 | 7.09 |
P/FCF ratio |
27.95 | 20.18 | 23.78 | 22.58 | 22.34 | 24.15 | 19.30 | 27.45 | 40.37 | 65.24 |
P/Operating CF |
25.28 | 18.77 | 22.14 | 29.08 | 30.75 | 28.85 | 28.50 | 42.22 | 30.36 | 54.67 |
Beneish M-Score |
(2.39) | (2.54) | (2.56) | (2.78) | (2.46) | (2.62) | 5.22 | (2.36) | (2.34) | (2.57) |
P/B ratio |
10.65 | 7.82 | 10.86 | 13.48 | 12.91 | 7.95 | 8.15 | 9.60 | 7.71 | 10.98 |
Price to Tangible BV |
12.57 | 7.85 | 10.91 | 13.56 | 13.01 | 8.01 | 8.21 | 9.68 | 7.71 | 10.98 |
EV/Sales |
2.44 | 1.75 | 2.23 | 2.62 | 2.37 | 2.59 | 2.29 | 2.54 | 2.26 | 3.42 |
EV/EBITDA |
16.48 | 10.78 | 13.00 | 14.24 | 13.07 | 29.76 | 14.15 | 15.06 | 12.79 | 19.20 |
EV/Operating CF |
20.11 | 14.76 | 16.92 | 18.06 | 19.32 | 19.63 | 15.38 | 17.85 | 17.03 | 26.18 |
EV/FCF |
28.29 | 20.49 | 24.00 | 22.88 | 23.06 | 24.16 | 21.09 | 26.80 | 39.20 | 63.65 |
Quick Ratio |
0.36 | 0.52 | 0.59 | 0.56 | 0.43 | 0.92 | 0.56 | 0.66 | 0.77 | 0.95 |
Current Ratio |
1.41 | 1.70 | 1.71 | 1.61 | 1.46 | 1.87 | 1.81 | 2.32 | 2.64 | 2.90 |
Net Debt/EBITDA |
(0.24) | (0.38) | (0.40) | (0.24) | (0.10) | (1.48) | (0.22) | (0.36) | (0.38) | (0.48) |
Debt/Assets |
0.89% | 0.00% | 0.00% | 5.27% | 5.75% | 4.97% | 4.93% | 0.00% | 0.00% | 0.00% |
Debt/Equity |
0.02 | 0.00 | 0.00 | 0.14 | 0.18 | 0.13 | 0.13 | 0.00 | 0.00 | 0.00 |
Asset Turnover |
1.91 | 1.93 | 2.02 | 2.01 | 1.75 | 1.24 | 1.84 | 2.20 | 2.16 | 2.03 |
Operating CF/Net income |
1.30 | 1.11 | 1.14 | 1.19 | 1.07 | 4.61 | 1.56 | 1.45 | 1.40 | 1.55 |
Capex/Depreciation |
(1.45) | (1.40) | (1.79) | (1.29) | (0.64) | (0.51) | (1.01) | (1.14) | (1.74) | (1.78) |
Interest Coverage |
857.86 | (103.68) | (95.22) | 327.72 | 780.21 | — | 180.22 | 170.82 | 392.65 | 654.82 |
| 43.59% | 50.39% | 60.91% | 71.09% | 55.78% | 9.01% | 37.93% | 36.64% | 33.40% | 27.27% | |
| 17.74% | 20.52% | 23.31% | 24.52% | 20.01% | 3.53% | 17.53% | 21.59% | 20.34% | 17.13% | |
ROIC |
40.40% | 54.79% | 69.33% | 68.05% | 58.86% | 12.27% | 34.35% | 37.83% | 35.65% | 36.05% |
Return on Tangible Assets |
49.00% | 48.26% | 54.69% | 61.00% | 60.20% | 8.11% | 33.24% | 28.42% | 24.78% | 20.37% |
Average Days of Receivables |
8.72 | 7.22 | 6.77 | 7.13 | 9.88 | 11.46 | 6.87 | 7.40 | 6.19 | 6.66 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
26.60% | 24.86% | 24.04% | 23.46% | 23.89% | 25.73% | 23.80% | 22.86% | 21.87% | 22.12% |
Intangible Assets out of Total Assets |
0.06 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.30% | 0.38% | 0.43% | 0.42% | 0.55% | 0.45% | 0.34% | 0.40% | 0.41% | 0.40% |
Graham Net Nets |
(0.04) | (0.02) | (0.02) | (0.03) | (0.05) | (0.04) | (0.06) | 0.03 | 0.04 | 0.03 |
Graham Number |
190.25 | 173.87 | 165.05 | 143.99 | 107.22 | 49.91 | 95.05 | 86.83 | 76.53 | 60.45 |
Earnings Yield |
3.87% | 6.18% | 5.22% | 4.70% | 4.98% | 1.11% | 4.56% | 3.78% | 4.07% | 2.41% |
Free Cash Flow Yield |
3.58% | 4.96% | 4.21% | 4.43% | 4.48% | 4.14% | 5.18% | 3.64% | 2.48% | 1.53% |
Revenue per Share |
276.37 | 239.28 | 227.31 | 198.60 | 158.42 | 109.17 | 127.91 | 112.20 | 95.60 | 77.65 |
Operating CF per Share |
33.51 | 28.36 | 29.94 | 28.83 | 19.44 | 14.38 | 19.04 | 15.97 | 12.66 | 10.15 |
Capex per Share |
(9.70) | (7.93) | (8.83) | (6.07) | (3.16) | (2.69) | (5.16) | (5.34) | (7.16) | (5.97) |
Free Cash Flow per Share |
23.82 | 20.42 | 21.11 | 22.76 | 16.28 | 11.69 | 13.88 | 10.64 | 5.50 | 4.17 |
Cash per Share |
11.02 | 14.90 | 15.55 | 14.35 | 7.92 | 18.56 | 8.68 | 6.84 | 6.46 | 6.64 |
Shareholders Equity per Share |
62.52 | 52.71 | 46.23 | 38.13 | 28.18 | 35.48 | 32.89 | 30.41 | 28.82 | 24.80 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
62.52 | 52.71 | 46.23 | 38.13 | 28.18 | 35.48 | 32.89 | 30.41 | 28.82 | 24.80 |
Free Cash Flow |
1,067.95 | 964.15 | 1,041.00 | 1,169.79 | 887.08 | 658.49 | 802.76 | 636.73 | 338.65 | 260.94 |
Working Capital |
919.80 | 1,249.33 | 1,178.33 | 1,027.53 | 723.17 | 1,171.06 | 918.06 | 1,091.13 | 1,051.58 | 1,006.89 |
Capital Expenditures |
(434.83) | (374.46) | (435.27) | (312.13) | (172.19) | (151.87) | (298.53) | (319.40) | (440.71) | (373.45) |
Net Current Asset Value |
(1,051.70) | (484.53) | (591.16) | (701.30) | (947.82) | (575.64) | (906.46) | 543.91 | 559.27 | 534.58 |
EV/EBIT |
19.71 | 12.62 | 14.89 | 16.33 | 15.77 | 67.18 | 18.79 | 19.98 | 16.90 | 25.36 |
Capex to Sales |
0.04 | 0.03 | 0.04 | 0.03 | 0.02 | 0.02 | 0.04 | 0.05 | 0.07 | 0.08 |
Price to Operating Income |
19.47 | 12.43 | 14.75 | 16.12 | 15.27 | 67.15 | 17.20 | 20.46 | 17.41 | 26.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.21 | 0.22 | 0.21 | 0.24 | 0.29 | 0.30 | 0.25 | 0.23 | 0.21 | 0.21 |
Cash ROIC |
31.78% | 30.21% | 34.18% | 39.25% | 39.59% | 19.96% | 30.36% | 28.56% | 15.59% | 13.28% |
Accounts Receivable Turnover |
47.71 | 52.38 | 55.02 | 47.14 | 40.45 | 37.01 | 53.71 | 56.95 | 62.48 | 63.20 |
Accounts Payable Turnover |
12.08 | 12.47 | 12.37 | 11.08 | 10.22 | 9.43 | 11.53 | 11.80 | 12.94 | 13.64 |
Inventory Turnover |
3.64 | 3.72 | 4.08 | 3.97 | 3.95 | 3.41 | 3.76 | 3.73 | 3.71 | 3.64 |
Average Days of Payables |
33.17 | 29.79 | 29.09 | 33.13 | 38.34 | 41.43 | 32.04 | 34.24 | 31.39 | 30.48 |
Days of Inventory on Hand |
105.48 | 103.99 | 93.15 | 94.95 | 103.99 | 101.46 | 100.11 | 102.90 | 105.66 | 110.88 |
Average Receivables |
259.78 | 215.64 | 203.68 | 216.55 | 213.40 | 166.22 | 137.75 | 117.94 | 94.18 | 76.81 |
Average Payables |
624.82 | 553.88 | 551.76 | 556.13 | 514.89 | 445.53 | 409.01 | 364.89 | 292.64 | 227.85 |
Average Inventory |
2,074.67 | 1,855.18 | 1,672.79 | 1,551.33 | 1,333.72 | 1,230.96 | 1,254.02 | 1,155.38 | 1,020.20 | 852.88 |
Average Assets |
6,500.49 | 5,854.35 | 5,538.71 | 5,067.40 | 4,927.17 | 4,976.92 | 4,027.52 | 3,049.93 | 2,730.28 | 2,391.40 |
Average Common Equity |
2,645.90 | 2,383.84 | 2,119.57 | 1,747.59 | 1,767.46 | 1,950.82 | 1,861.16 | 1,797.22 | 1,662.22 | 1,502.39 |
Columns are period end dates