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Ulta Beauty, Inc. ULTA Operating margin

Operating margin at other companies

Walmart
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Walmart WMT
4.2%-0.2pp
Amazon logo
AmazonAMZN
11.5%+0.5pp
Estee Lauder Companies Inc. logo
Estee Lauder Companies Inc.EL
2.9%
Church & Dwight logo
Church & DwightCHD
17.3%+4.2pp
Kenvue logo
KenvueKVUE
17.2%+5.1pp
Colgate-Palmolive logo
Colgate-PalmoliveCL
15.4%-6.2pp

Other financials

Income statement

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Revenue$3.2B+11.1%
Gross profit$1.3B+13.8%
Operating income$448.3M+11.6%
Net income$340.5M+11.6%
EPS (diluted)$7.74+15.5%

Balance sheet

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Cash & equivalents$166.3M-63.4%
Total debt$2.3B+16.6%
Total equity$2.6B+6.2%
Total assets$6.9B+15.2%

Cash flow

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Operating cash flow$261.9M+19.0%
CapEx$58.3M-26.3%
Free cash flow$203.6M+44.4%

Valuation

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Market cap$19.61B+16.5%
Enterprise value$21.74B+18.3%
P/E16.5×+2.4×
P/S1.5×+0.1×

Profitability

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Gross margin39.3%+0.5pp
Net margin9.4%-1.1pp

Returns & leverage

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Return on equity47.4%-3.0pp
Debt / equity0.9×+0.1×
Current ratio1.3×-0.4×

Where this comes from

Calculated from Ulta Beauty, Inc.’s reported figures.

Based on trailing twelve months.

The official record: Ulta Beauty, Inc.’s 10-Q, filed June 2, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ulta Beauty, Inc.'s operating margin?
Ulta Beauty, Inc. (ULTA) reported operating margin of 12.4% in Q1 2026.
How has Ulta Beauty, Inc.'s operating margin changed year-over-year?
Ulta Beauty, Inc.'s operating margin decreased by 9.4% year-over-year, from 13.7% to 12.4%.
What is the long-term trend for Ulta Beauty, Inc.'s operating margin?
Over 4 years (2021 to 2025), Ulta Beauty, Inc.'s operating margin has grown at a 0.8% compound annual growth rate (CAGR), from 51.1% to 52.8%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.