Ulta Beauty (ULTA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Ulta Beauty

NasdaqGS•Consumer Cyclical•Specialty Retail

$543.73+13.21(0.02%)After hours

Market Cap

$23.36B

P/E

19.3x

P/S

1.8x

P/B

8.8x

Ulta Beauty, Inc. operates as a specialty beauty retailer in the United States, Mexico, and Kuwait. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications. It also provides wellness products. The company was formerly known as ULTA Salon, Cosmetics & Fragrance, Inc. and changed its name to Ulta Beauty, Inc. in January 2017. Ulta Beauty, Inc. was incorporated in 1990 and is based in Bolingbrook, Illinois.

How this company scores

GoodMetricSide Score: 66/100

Strongest: Growth (19/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability15/25

Growth19/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality17/25

Strengths

Rising free cash flowHigh ROEInterest easily coveredConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 19.3x5y range 13.4x – 24.9x

Currently near its 20-quarter median.

P/S · 1.8x5y range 1.4x – 2.6x

Currently near its 20-quarter median.

P/B · 8.8x5y range 6.9x – 13.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 7.7% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Red Flag

FCF consistently trails net income (avg 0.7x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $23.36B

Metrics at a Glance

as of August 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $12.96B
Q. Revenue: $3.04B
TTM EBITDA: $1.93B
TTM Op. Income: $1.61B
Q. Op. Income: $379.64M
TTM Net Income: $1.21B
Q. Net Income: $282.01M
EPS: $6.57
Shares Out.: $42.95M

$12.96B in TTM revenue grew 11.2% YoY, reaching $3.04B last quarter. TTM EBITDA of $1.93B and TTM operating income of $1.61B show growth is flowing through to the bottom line. TTM net income of $1.21B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 39.1%
EBITDA Margin: 15.2%
Op. Margin: 12.5%
Net Margin: 9.3%

Op. margin of 12.5% is up 0.1% YoY — cost efficiency is improving. Net margin at 9.3% and gross margin of 39.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 1% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 19.3x
P/S Ratio: 1.8x
P/B Ratio: 8.8x

At 19.3x P/E, the stock trades within typical market levels. P/S of 1.8x and P/B of 8.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $6.96B
Cash: $158.45M
Long-Term Debt: N/A
Book Value: $2.64B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $119.70M
TTM Free Cash Flow: $1.15B
FCF Margin: 8.9%
FCF / Net Income: 0.9

TTM FCF of $1.15B on $119.70M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.