Ulta Beauty, Inc. (ULTA) AI Stock Analysis

Ulta Beauty, Inc. operates as a specialty beauty retailer across the United States. Its store network offers cosmetics, fragrances, skincare items, haircare products, bath and body essentials, and salon styling tools. Stores also provide salon services covering hair, skin, makeup, brow treatments, and nail services. Ulta Beauty features private label products under the Ulta Beauty Collection brand, in addition to curated exclusive branded merchandise and gift options. Customers are also served online through ulta.com and mobile applications. Originally incorporated as Ulta Salon, Cosmetics & Fragrance, Inc., the Bolingbrook, Illinois-based company rebranded in January 2017.

Ulta Beauty expanded revenue from $8.63B in FY2022 to $12.39B in FY2026, achieving a 5-year revenue CAGR of 15.0%. Annual revenue grew 40.3% in FY2022, 18.3% in FY2023, 9.8% in FY2024, 0.8% in FY2025, and 9.7% in FY2026. Gross margin remained steady, registering 39.0% in FY2022 and 39.1% in FY2026. However, operating margin narrowed from 16.2% in FY2023 to 12.5% in FY2026, while net income moved from $1.24B to $1.15B over that span. Diluted EPS rose from $18.01 in FY2022 to $25.63 in FY2026. For the latest quarter ended July 31, 2026, quarterly revenue grew 8.9% year-over-year and quarterly earnings grew 13.3%, supporting trailing twelve month revenue of $12.96B.

As of July 31, 2026, Ulta Beauty held $213.5M in cash and short-term investments against total debt of $2.52B, resulting in net debt of $2.31B. Shareholders' equity stood at $2.64B, with a debt-to-equity ratio of 0.95 and a current ratio of 1.35. Total assets reached $6.96B. In FY2026, the company generated $1.50B in operating cash flow and funded $434.8M in capital expenditures, delivering $1.07B in free cash flow. Ulta deployed $901.4M toward share buybacks in FY2026, contributing to a 20.4% reduction in share count over 5 years.

Ulta Beauty has a market cap of $25.35B and an enterprise value of $25.56B. At its last close of $592.94 on October 16, 2026, the stock trades at a trailing P/E of 21.6x and a forward P/E of 19.6x. This compares to the median of its S&P 500 Consumer Cyclical peers of 19.7x trailing P/E and 15.6x forward P/E. Its EV/EBITDA of 13.2x sits below the peer median of 13.8x, while its price-to-sales multiple of 2.0x matches the peer median. Over the past 1 year, ULTA returned 10.4%, trailing the S&P 500 return of 16.8%. Over 5 years, ULTA returned 46.1% compared to 83.0% for the S&P 500.

Wall Street coverage consists of 15 Strong Buy, 4 Buy, and 9 Hold ratings, with no Sell or Strong Sell ratings. The mean price target is $631.44, representing a 6.5% premium to the last close of $592.94. For the fiscal year ending January 31, 2027, consensus estimates project EPS of $28.95 on revenue of $13.28B. For the following fiscal year, 18 analysts forecast EPS of $31.99 on revenue of $13.96B. Ulta has beaten EPS estimates in 3 of the last 4 quarters, and its next earnings date is December 3, 2026.

This page is an AI-written research summary of Ulta Beauty, Inc. (ULTA). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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