Is Ulta Beauty (ULTA) overvalued or fairly valued?

MarketChacha shows Ulta Beauty's valuation in context — a trailing P/E of about 22.2, a forward P/E of about 17.6, a price-to-book of about 8.9 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Ulta Beauty's reported profit turn into cash?

Over 4 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.19×) from reported figures — education, not a rating.

What is Ulta Beauty's revenue?

Ulta Beauty reported revenue of $12.4B for FY2026, with net profit of $1.2B, per official filings.

What is the share price of Ulta Beauty (ULTA)?

Ulta Beauty last traded at $564.12 (+1.3% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

Ulta Beauty

ULTA · NASDAQ · Consumer Discretionary · United States

Snapshot

TickerULTA

ExchangeNASDAQ

SectorConsumer Discretionary

IndustrySpecialty Retail

CountryUnited States

Employees21,382

HeadquartersBolingbrook, United States

Websitewww.ulta.com

Filings tracked15

About Ulta Beauty

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.

Who owns it

Insiders0.2%
Institutions99.8%
Public & other0.0%

1,504 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.9.42%
Vanguard Capital Management LLC6.66%
Sanders Capital, LLC5.76%
State Street Corporation4.74%
Vanguard Portfolio Management LLC4.54%
Price (T.Rowe) Associates Inc3.57%
Geode Capital Management, LLC2.89%
Morgan Stanley2.44%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 2.9 points over the period — profitability is trending down.

Cash conversion1.19×

Over 4 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend12.2% → 9.3%

Margin has compressed by about 2.9 points over the period — profitability is trending down.

Return on equity41.1%

Latest ROE of 41.1% — capital is generating a healthy return.

Growth qualityrev 7% · PAT -2%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $4.1B · EPS 9.06

Est. earnings growth +13.8%

Next fiscal year

Rev $14.0B · EPS 31.94

Est. earnings growth +10.6%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2026)

$12.4B

Net margin

9.3%

ROE

41.1%

Revenue CAGR (3y)

+6.7%

Profit CAGR (3y)

-2.4%

EPS (FY2026)

25.64

Net profit (FY2026)

$1.2B

Ask MarketChacha about ULTA

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2026	$12.4B	$1.2B	25.64	9.3%	41.1%
FY2025	$11.3B	$1.2B	25.34	10.6%	48.3%
FY2024	$11.2B	$1.3B	26.03	11.5%	56.6%
FY2023	$10.2B	$1.2B	24.01	12.2%	63.4%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$3.2B	$340.5M	7.74	10.8%
2025Q4	$2.9B	$230.9M	5.14	8.1%
2025Q3	$2.8B	$260.9M	5.78	9.4%
2025Q2	$2.8B	$305.1M	6.70	10.7%
2024Q4	$2.5B	$242.2M	5.14	9.6%
2024Q3	$2.6B	$252.6M	5.30	9.9%
2024Q2	$2.7B	$313.1M	6.47	11.5%
2023Q4	$2.5B	$249.5M	5.07	10.0%
2023Q3	$2.5B	$300.1M	6.02	11.9%
2023Q2	$2.6B	$347.1M	6.88	13.2%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC7/14/2026material
8-K — Executive/director change, Bylaw/charter change, Shareholder vote results, Exhibits
SEC6/9/2026material
8-K — Results of operations, Exhibits
SEC6/2/2026material
10-Q filing
SEC6/2/2026
10-K filing
SEC3/26/2026
8-K — Results of operations, Exhibits
SEC3/12/2026material

2025

8-K — Executive/director change, Exhibits
SEC12/18/2025material
8-K — Results of operations, Exhibits
SEC12/4/2025material
10-Q filing
SEC12/4/2025
8-K — Executive/director change, Other events, Exhibits
SEC10/16/2025material
8-K — Results of operations, Exhibits
SEC8/28/2025material
10-Q filing
SEC8/28/2025
8-K — Executive/director change, Other events, Exhibits
SEC8/21/2025material
8-K — Other events, Exhibits
SEC8/14/2025material
8-K — Executive/director change
SEC7/25/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.