ULTA BEAUTY INC (ULTA) Fundamental Analysis & Valuation

NASDAQ:ULTA • US90384S3031

Current stock price

535.72 USD
-88.98 (-14.24%)
At close:
531.76 USD
-3.96 (-0.74%)
After Hours:

This ULTA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. ULTA Profitability Analysis

1.1 Basic Checks

  • ULTA had positive earnings in the past year.
  • In the past year ULTA had a positive cash flow from operations.
  • ULTA had positive earnings in each of the past 5 years.
  • In the past 5 years ULTA always reported a positive cash flow from operatings.
ULTA Yearly Net Income VS EBIT VS OCF VS FCFULTA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 16.97%, ULTA belongs to the top of the industry, outperforming 95.16% of the companies in the same industry.
  • The Return On Equity of ULTA (45.20%) is better than 95.16% of its industry peers.
  • ULTA has a Return On Invested Capital of 23.80%. This is amongst the best in the industry. ULTA outperforms 93.55% of its industry peers.
  • ULTA had an Average Return On Invested Capital over the past 3 years of 31.18%. This is significantly above the industry average of 13.59%.
  • The 3 year average ROIC (31.18%) for ULTA is well above the current ROIC(23.80%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 16.97%
ROE 45.2%
ROIC 23.8%
ROA(3y)21.92%
ROA(5y)17.98%
ROE(3y)56.09%
ROE(5y)48.26%
ROIC(3y)31.18%
ROIC(5y)26.29%
ULTA Yearly ROA, ROE, ROICULTA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

1.3 Margins

  • ULTA has a Profit Margin of 9.93%. This is amongst the best in the industry. ULTA outperforms 90.32% of its industry peers.
  • ULTA's Profit Margin has improved in the last couple of years.
  • With an excellent Operating Margin value of 13.12%, ULTA belongs to the best of the industry, outperforming 88.71% of the companies in the same industry.
  • ULTA's Operating Margin has improved in the last couple of years.
  • ULTA's Gross Margin of 39.19% is in line compared to the rest of the industry. ULTA outperforms 59.68% of its industry peers.
  • ULTA's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 13.12%
PM (TTM) 9.93%
GM 39.19%
OM growth 3Y-2.67%
OM growth 5Y2.61%
PM growth 3Y-2.36%
PM growth 5Y2.19%
GM growth 3Y-0.17%
GM growth 5Y1.4%
ULTA Yearly Profit, Operating, Gross MarginsULTA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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8

2. ULTA Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), ULTA is creating value.
  • Compared to 1 year ago, ULTA has less shares outstanding
  • Compared to 5 years ago, ULTA has less shares outstanding
  • ULTA has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
ULTA Yearly Shares OutstandingULTA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M
ULTA Yearly Total Debt VS Total AssetsULTA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

2.2 Solvency

  • An Altman-Z score of 6.70 indicates that ULTA is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 6.70, ULTA belongs to the top of the industry, outperforming 93.55% of the companies in the same industry.
  • ULTA has a debt to FCF ratio of 0.53. This is a very positive value and a sign of high solvency as it would only need 0.53 years to pay back of all of its debts.
  • ULTA has a better Debt to FCF ratio (0.53) than 83.87% of its industry peers.
  • ULTA has a Debt/Equity ratio of 0.21. This is a healthy value indicating a solid balance between debt and equity.
  • ULTA has a Debt to Equity ratio of 0.21. This is in the better half of the industry: ULTA outperforms 62.90% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 0.53
Altman-Z 6.7
ROIC/WACC2.43
WACC9.79%
ULTA Yearly LT Debt VS Equity VS FCFULTA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

2.3 Liquidity

  • ULTA has a Current Ratio of 1.33. This is a normal value and indicates that ULTA is financially healthy and should not expect problems in meeting its short term obligations.
  • ULTA has a Current ratio (1.33) which is comparable to the rest of the industry.
  • A Quick Ratio of 0.25 indicates that ULTA may have some problems paying its short term obligations.
  • The Quick ratio of ULTA (0.25) is worse than 82.26% of its industry peers.
  • The current and quick ratio evaluation for ULTA is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 1.33
Quick Ratio 0.25
ULTA Yearly Current Assets VS Current LiabilitesULTA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. ULTA Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 4.48% over the past year.
  • Measured over the past years, ULTA shows a quite strong growth in Earnings Per Share. The EPS has been growing by 15.85% on average per year.
  • Looking at the last year, ULTA shows a small growth in Revenue. The Revenue has grown by 5.45% in the last year.
  • ULTA shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.83% yearly.
EPS 1Y (TTM)4.48%
EPS 3Y12.16%
EPS 5Y15.85%
EPS Q2Q%0%
Revenue 1Y (TTM)5.45%
Revenue growth 3Y9.38%
Revenue growth 5Y8.83%
Sales Q2Q%12.95%

3.2 Future

  • ULTA is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.26% yearly.
  • The Revenue is expected to grow by 6.28% on average over the next years.
EPS Next Y3.18%
EPS Next 2Y7.06%
EPS Next 3Y7.61%
EPS Next 5Y9.26%
Revenue Next Year9.78%
Revenue Next 2Y7.68%
Revenue Next 3Y6.71%
Revenue Next 5Y6.28%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
ULTA Yearly Revenue VS EstimatesULTA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5B 10B 15B
ULTA Yearly EPS VS EstimatesULTA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 10 20 30 40 50

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4

4. ULTA Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 20.52 indicates a rather expensive valuation of ULTA.
  • Based on the Price/Earnings ratio, ULTA is valued a bit cheaper than 64.52% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of ULTA to the average of the S&P500 Index (25.70), we can say ULTA is valued slightly cheaper.
  • ULTA is valuated rather expensively with a Price/Forward Earnings ratio of 18.42.
  • ULTA's Price/Forward Earnings is on the same level as the industry average.
  • ULTA is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 23.84, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 20.52
Fwd PE 18.42
ULTA Price Earnings VS Forward Price EarningsULTA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • ULTA's Enterprise Value to EBITDA is on the same level as the industry average.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ULTA indicates a somewhat cheap valuation: ULTA is cheaper than 63.71% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 22.82
EV/EBITDA 14.78
ULTA Per share dataULTA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 50 100 150 200 250

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ULTA does not grow enough to justify the current Price/Earnings ratio.
  • The excellent profitability rating of ULTA may justify a higher PE ratio.
PEG (NY)6.46
PEG (5Y)1.29
EPS Next 2Y7.06%
EPS Next 3Y7.61%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. ULTA Dividend Analysis

5.1 Amount

  • ULTA does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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ULTA Fundamentals: All Metrics, Ratios and Statistics

ULTA BEAUTY INC

NASDAQ:ULTA (3/13/2026, 8:01:38 PM)

After market: 531.76 -3.96 (-0.74%)

535.72

-88.98 (-14.24%)

Chartmill FA Rating
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)12-04
Earnings (Next)05-27
Inst Owners101.27%
Inst Owner Change-1.8%
Ins Owners0.15%
Ins Owner Change1.45%
Market Cap23.76B
Revenue(TTM)11.98B
Net Income(TTM)1.19B
Analysts76
Price Target688.13 (28.45%)
Short Float %4.85%
Short Ratio3.99
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.22%
Min EPS beat(2)8.65%
Max EPS beat(2)11.78%
EPS beat(4)4
Avg EPS beat(4)12.61%
Min EPS beat(4)8.65%
Max EPS beat(4)16.52%
EPS beat(8)7
Avg EPS beat(8)7.92%
EPS beat(12)10
Avg EPS beat(12)6.51%
EPS beat(16)14
Avg EPS beat(16)10.63%
Revenue beat(2)2
Avg Revenue beat(2)2.84%
Min Revenue beat(2)2.18%
Max Revenue beat(2)3.5%
Revenue beat(4)2
Avg Revenue beat(4)1.09%
Min Revenue beat(4)-1.26%
Max Revenue beat(4)3.5%
Revenue beat(8)2
Avg Revenue beat(8)-0.44%
Revenue beat(12)3
Avg Revenue beat(12)-0.23%
Revenue beat(16)6
Avg Revenue beat(16)0.67%
PT rev (1m)0.56%
PT rev (3m)13.56%
EPS NQ rev (1m)0.11%
EPS NQ rev (3m)4.78%
EPS NY rev (1m)0.6%
EPS NY rev (3m)3.37%
Revenue NQ rev (1m)0.08%
Revenue NQ rev (3m)2.12%
Revenue NY rev (1m)0.28%
Revenue NY rev (3m)1.74%
Valuation
Industry RankSector Rank
PE 20.52
Fwd PE 18.42
P/S 1.98
P/FCF 22.82
P/OCF 17.49
P/B 9.03
P/tB 10.64
EV/EBITDA 14.78
EPS(TTM)26.11
EY4.87%
EPS(NY)29.08
Fwd EY5.43%
FCF(TTM)23.48
FCFY4.38%
OCF(TTM)30.63
OCFY5.72%
SpS270.11
BVpS59.36
TBVpS50.37
PEG (NY)6.46
PEG (5Y)1.29
Graham Number186.74
Profitability
Industry RankSector Rank
ROA 16.97%
ROE 45.2%
ROCE 35.15%
ROIC 23.8%
ROICexc 24.81%
ROICexgc 27.05%
OM 13.12%
PM (TTM) 9.93%
GM 39.19%
FCFM 8.69%
ROA(3y)21.92%
ROA(5y)17.98%
ROE(3y)56.09%
ROE(5y)48.26%
ROIC(3y)31.18%
ROIC(5y)26.29%
ROICexc(3y)36.11%
ROICexc(5y)30.76%
ROICexgc(3y)36.24%
ROICexgc(5y)30.87%
ROCE(3y)40.98%
ROCE(5y)34.55%
ROICexgc growth 3Y-1.69%
ROICexgc growth 5Y9.71%
ROICexc growth 3Y-1.64%
ROICexc growth 5Y9.74%
OM growth 3Y-2.67%
OM growth 5Y2.61%
PM growth 3Y-2.36%
PM growth 5Y2.19%
GM growth 3Y-0.17%
GM growth 5Y1.4%
F-Score6
Asset Turnover1.71
Health
Industry RankSector Rank
Debt/Equity 0.21
Debt/FCF 0.53
Debt/EBITDA 0.3
Cap/Depr 109.77%
Cap/Sales 2.65%
Interest Coverage 250
Cash Conversion 73%
Profit Quality 87.52%
Current Ratio 1.33
Quick Ratio 0.25
Altman-Z 6.7
F-Score6
WACC9.79%
ROIC/WACC2.43
Cap/Depr(3y)149.34%
Cap/Depr(5y)112.63%
Cap/Sales(3y)3.42%
Cap/Sales(5y)2.94%
Profit Quality(3y)85.03%
Profit Quality(5y)143.84%
High Growth Momentum
Growth
EPS 1Y (TTM)4.48%
EPS 3Y12.16%
EPS 5Y15.85%
EPS Q2Q%0%
EPS Next Y3.18%
EPS Next 2Y7.06%
EPS Next 3Y7.61%
EPS Next 5Y9.26%
Revenue 1Y (TTM)5.45%
Revenue growth 3Y9.38%
Revenue growth 5Y8.83%
Sales Q2Q%12.95%
Revenue Next Year9.78%
Revenue Next 2Y7.68%
Revenue Next 3Y6.71%
Revenue Next 5Y6.28%
EBIT growth 1Y0.42%
EBIT growth 3Y6.46%
EBIT growth 5Y11.68%
EBIT Next Year23.18%
EBIT Next 3Y11.25%
EBIT Next 5Y9.08%
FCF growth 1Y22.91%
FCF growth 3Y2.82%
FCF growth 5Y3.73%
OCF growth 1Y7.28%
OCF growth 3Y8.11%
OCF growth 5Y3.98%

ULTA BEAUTY INC / ULTA Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for ULTA BEAUTY INC?

ChartMill assigns a fundamental rating of 6 / 10 to ULTA.


Can you provide the valuation status for ULTA BEAUTY INC?

ChartMill assigns a valuation rating of 4 / 10 to ULTA BEAUTY INC (ULTA). This can be considered as Fairly Valued.


Can you provide the profitability details for ULTA BEAUTY INC?

ULTA BEAUTY INC (ULTA) has a profitability rating of 9 / 10.


Can you provide the expected EPS growth for ULTA stock?

The Earnings per Share (EPS) of ULTA BEAUTY INC (ULTA) is expected to grow by 3.18% in the next year.


How sustainable is the dividend of ULTA BEAUTY INC (ULTA) stock?

The dividend rating of ULTA BEAUTY INC (ULTA) is 0 / 10 and the dividend payout ratio is 0%.