Income StatementBalance SheetCash FlowSegments
Ulta Beauty, Inc. logo

Ulta Beauty, Inc. Income Statement

Revenue, expenses, and profitability over time

Ulta Beauty, Inc. generated $12.7B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $1.2B with a 9.36% net margin. Gross margin stands at 39.33% and operating margin at 12.43%. Diluted EPS is $26.65, which grew 0.0% year-over-year. Based on the Q2 2026 filing.

Total Revenue (TTM)$12.7BGross Profit (TTM)$5.0BOperating Income (TTM)$1.6BNet Income (TTM)$1.2BEps Diluted (TTM)$26.65
Latest FilingQ2 2026
Report Date2026-06-02
Market Cap$22.2B
P/E Ratio18.64
ROE47.45%

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Derivative Gain (Loss) Excluded from Effectiveness$2.0M$3.5M$1.4M-$4.1M-$2.6M$652.0K
Interest Income (Expense), Non-operating$2.0M$3.5M$1.4M-$4.1M-$2.6M$652.0K
Interest expense$2.0M$3.5M$1.4M-$4.1M-$2.6M$652.0K
Change in Accounts Payable—-$24.9M$123.0M$25.8M—$21.8M
Change in Receivables$9.7M$1.8M$0.0$12.9M$58.2M-$48.0M
Interest Income (Expense), Nonoperating$2.0M$3.5M$1.4M-$4.1M-$2.6M$652.0K
Non-operating Interest Income (Expense)$2.0M$3.5M$1.4M-$4.1M-$2.6M$652.0K

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital Expenditures$73.9M$79.0M$77.0M$87.3M$191.6M$58.3M
Change in Deferred Revenue$95.5M-$37.7M-$6.7M$2.8M$115.0M-$41.1M
Income Taxes Paid, Net$69.3M$7.0M$245.0M$74.3M$55.5M$3.5M
Capital investments accrued but not yet paid—$28.4M$34.3M$25.8M—$49.0M
Gain Loss On Sale Of Property Plant Equipment-$4.3M-$892.0K-$3.8M-$2.7M-$3.6M-$4.7M
Income After Income Taxes And Before Equity Net Loss Of Affiliate$393.3M$305.7M$261.5M$231.9M$358.3M$342.0M
Income Taxes Paid, Net$69.3M$7.0M$245.0M$74.3M$55.5M$3.5M
Accounts payable—-$24.9M$123.0M$25.8M—$21.8M
Accrued liabilities$52.1M-$32.7M$28.8M$10.4M$101.6M-$112.4M
Increase (decrease) in contract liabilities and current deferred income$95.5M-$37.7M-$6.7M$2.8M$115.0M-$41.1M
Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable$104.6M$88.9M-$159.3M——$100.0M
Increase (Decrease) in Inventories—$153.3M$212.8M$336.6M—$206.0M
Increase (Decrease) in Other Operating Assets and Liabilities, Net—$5.6M$10.2M$5.9M$6.0M-$5.7M
Increase (Decrease) in Prepaid Expense and Other Assets—$9.3M$12.4M—$11.5M-$3.6M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$434.7M-$382.2M——-$685.7M-$471.4M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$76.4M-$86.4M-$473.5M-$95.6M-$275.8M-$48.2M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$1.0B$220.0M$96.5M$5.6M$1.2B$261.9M
Payments For Proceeds From Investments$2.5M$7.3M$9.8M$8.3M$14.3M$4.9M
Payments for Repurchase of Common Stock$237.9M$369.8M$109.5M$224.7M$197.4M$545.3M
Payments to Acquire Property, Plant, and Equipment$73.9M$79.0M$77.0M$87.3M$191.6M$58.3M
Cash received from option exercises$3.1M$481.0K$14.4M$15.3M$2.5M$1.4M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Income Taxes$69.3M$7.0M$245.0M$74.3M$55.5M$3.5M
Income Taxes Paid, Net$69.3M$7.0M$245.0M$74.3M$55.5M$3.5M
Income tax expense$125.0M$99.6M$84.8M$73.4M$116.0M$106.9M
Income Taxes Paid, Net$69.3M$7.0M$245.0M$74.3M$55.5M$3.5M
Income and Other Taxes$69.3M$7.0M$245.0M$74.3M$55.5M$3.5M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$70.0M$72.0M$71.2M$75.8M$81.8M$81.4M
Pre-opening costs$1.7M$1.8M$5.1M$5.3M$3.6M$4.7M
Selling, general and administrative$815.6M$710.6M$741.7M$840.9M$1.0B$814.7M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$8.44$6.72$5.80$5.16$8.02$7.78
Diluted earnings per share$8.41$6.70$5.78$5.14$7.99$7.74
Weighted-average shares, basic47.2M45.4M45M44.7M44.8M43.8M
Weighted-average shares, diluted47.4M45.5M45.1M44.9M45M44M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$1.3B$1.1B$1.1B$1.2B$1.5B$1.3B
Operating income$516.3M$401.8M$344.9M$309.4M$476.9M$448.3M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$518.3M$405.3M$346.3M$305.3M$474.3M$448.9M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$393.3M$305.1M$260.9M$230.9M$356.7M$340.5M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$2.2B$1.7B$1.7B$1.7B$2.4B$1.9B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$3.5B$2.8B$2.8B$2.9B$3.9B$3.2B