Ulta Beauty, Inc. (ULTA) Income Statement
ULTA FY2026 at a glance
Fiscal year ended January 31, 2026 · U.S. dollarsULTA revenue and net income
Where ULTA's revenue goes
FY2026Each bar shows an amount and its share of revenue. ULTA kept 9.3% of revenue as net income.
ULTA profit margins
ULTA growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.7% | +6.7% | +15.0% | +12.2% |
| Gross profit | +10.4% | +6.2% | +20.0% | +13.3% |
| Operating income | −1.9% | −2.1% | +37.6% | +11.5% |
| Net income | −4.0% | −2.4% | +45.7% | +13.7% |
| EPS (diluted) | +1.0% | +2.2% | +42.7% | +17.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ULTA quarterly EPS vs estimates
Ulta Beauty beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: December 3, 2026 (estimate $5.60).
ULTA income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.39B | $11.30B | $11.21B | $10.21B | $8.63B | $6.15B | $7.40B | $6.72B | $5.88B | $4.85B |
| Cost of revenue | $7.55B | $6.91B | $6.83B | $6.16B | $5.26B | $4.20B | $4.72B | $4.31B | $3.79B | $3.11B |
| Gross profit | $4.85B | $4.39B | $4.38B | $4.04B | $3.37B | $1.95B | $2.68B | $2.41B | $2.10B | $1.75B |
| Research & development | — | $306,000 | $889,000 | $1.0M | $926,000 | $926,000 | $926,000 | $314,000 | — | — |
| Sales, general & admin | $3.30B | $2.84B | $2.73B | $2.40B | $2.06B | $1.58B | $1.76B | $1.56B | $1.31B | $1.09B |
| Total operating expenses | $3.30B | $2.81B | $2.69B | $2.40B | $2.12B | $1.64B | $1.76B | $1.54B | $1.29B | $1.07B |
| Operating income | $1.55B | $1.58B | $1.69B | $1.65B | $1.25B | $313.7M | $920.3M | $873.8M | $809.6M | $673.4M |
| Interest income | — | $15.1M | $17.6M | $4.9M | — | — | $5.1M | $5.1M | $1.6M | — |
| Interest expense | $1.8M | — | $17.6M | $4.9M | $1.7M | $5.7M | $5.1M | $5.1M | $1.6M | $890,000 |
| Income before taxes | $1.53B | $1.58B | $1.70B | $1.64B | $1.30B | $231.1M | $906.1M | $859.1M | $786.9M | $655.7M |
| Income taxes | $373.9M | $378.9M | $404.6M | $401.1M | $310.0M | $55.2M | $200.2M | $200.6M | $231.6M | $246.0M |
| Net income | $1.15B | $1.20B | $1.29B | $1.24B | $985.8M | $175.8M | $705.9M | $658.6M | $555.2M | $409.8M |
| EBITDA | $1.83B | $1.85B | $1.94B | $1.88B | $1.57B | $534.6M | $1.20B | $1.14B | $1.04B | $866.0M |
| EPS (diluted) | $25.63 | $25.37 | $26.05 | $24.02 | $18.01 | $4.33 | $12.16 | $10.95 | $8.33 | $6.52 |
| Gross margin | 39.1% | 38.8% | 39.1% | 39.6% | 39.0% | 31.7% | 36.2% | 35.9% | 35.6% | 36.0% |
| Operating margin | 12.5% | 14.0% | 15.0% | 16.2% | 14.5% | 5.1% | 12.4% | 13.0% | 13.8% | 13.9% |
| Net margin | 9.3% | 10.6% | 11.5% | 12.2% | 11.4% | 2.9% | 9.5% | 9.8% | 9.4% | 8.4% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.04B | $3.16B | $3.90B | $2.86B | $2.79B | $2.85B | $3.49B | $2.53B | $2.55B | $2.73B | $3.55B | $2.49B |
| Cost of revenue | $1.85B | $1.90B | $2.41B | $1.70B | $1.70B | $1.73B | $2.15B | $1.52B | $1.57B | $1.66B | $2.21B | $1.50B |
| Gross profit | $1.19B | $1.27B | $1.48B | $1.16B | $1.09B | $1.11B | $1.33B | $1.01B | $978.2M | $1.07B | $1.34B | $992.1M |
| Research & development | — | — | — | — | — | — | — | — | — | — | $889,000 | — |
| Sales, general & admin | $802.8M | $814.7M | $1.00B | $840.9M | $741.7M | $710.6M | $815.6M | $682.3M | $644.8M | $665.9M | $820.4M | $661.4M |
| Total operating expenses | $802.8M | $814.7M | $1.00B | $840.9M | $741.7M | $710.6M | $815.6M | $682.3M | $644.8M | $665.9M | $820.4M | $661.4M |
| Operating income | $384.2M | $448.3M | $480.5M | $314.7M | $350.0M | $403.6M | $518.1M | $323.4M | $333.4M | $403.9M | $520.2M | $330.7M |
| Interest income | — | $652,000 | — | — | $1.4M | $3.5M | $2.0M | $1.7M | $4.5M | $6.9M | — | $2.5M |
| Interest expense | $3.7M | $652,000 | $2.6M | $4.1M | — | — | — | — | — | — | $13.2M | — |
| Income before taxes | $373.9M | $448.9M | $474.3M | $304.3M | $345.7M | $404.7M | $518.3M | $320.2M | $333.7M | $407.8M | $520.4M | $329.7M |
| Income taxes | $91.9M | $106.9M | $116.0M | $73.4M | $84.8M | $99.6M | $125.0M | $78.0M | $81.2M | $94.7M | $126.0M | $80.2M |
| Net income | $282.0M | $340.5M | $356.7M | $230.9M | $260.9M | $305.1M | $393.3M | $242.2M | $252.6M | $313.1M | $394.4M | $249.5M |
| EBITDA | $465.5M | $531.0M | $558.7M | $385.2M | $417.4M | $477.4M | $588.3M | $387.2M | $399.0M | $472.6M | $583.0M | $391.1M |
| EPS (diluted) | $6.55 | $7.74 | $8.01 | $5.14 | $5.78 | $6.70 | $8.46 | $5.14 | $5.30 | $6.47 | $8.08 | $5.07 |
| Gross margin | 39.1% | 40.1% | 38.1% | 40.4% | 39.2% | 39.1% | 38.2% | 39.7% | 38.3% | 39.2% | 37.7% | 39.9% |
| Operating margin | 12.7% | 14.2% | 12.3% | 11.0% | 12.6% | 14.2% | 14.9% | 12.8% | 13.1% | 14.8% | 14.6% | 13.3% |
| Net margin | 9.3% | 10.8% | 9.1% | 8.1% | 9.4% | 10.7% | 11.3% | 9.6% | 9.9% | 11.5% | 11.1% | 10.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ULTA's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ULTA financial results
In fiscal year 2026 (ended January 31, 2026), Ulta Beauty reported revenue of $12.4 billion, up 9.7% from the year before. It had net income of $1.2 billion (down 4.0%), a net profit margin of 9.3%. Diluted earnings per share came to $25.63. Over five years revenue grew at an average rate of 15.0% a year.
See the ULTA stock overview for the latest quote and news, or the ULTA chart for price history and technical indicators.
ULTA income statement FAQ
What is Ulta Beauty's annual revenue?
Ulta Beauty reported total revenue of $12.4 billion for fiscal year 2026, which ended on January 31, 2026. That was up 9.7% from $11.3 billion the previous year.
Is Ulta Beauty profitable?
Yes. Ulta Beauty reported net income of $1.2 billion in fiscal 2026, a net profit margin of 9.3%; its operating margin was 12.5%.
What is Ulta Beauty's gross margin?
Ulta Beauty's gross margin was 39.1% in fiscal 2026: for every $100 of revenue, Ulta Beauty kept $39 after the direct cost of its products and services.
How fast is Ulta Beauty growing?
Revenue grew 15.0% a year on average over the last five fiscal years, from $6.2 billion to $12.4 billion.
What are Ulta Beauty's earnings per share?
Ulta Beauty earned $25.63 per diluted share in fiscal 2026, compared with $25.37 a year earlier.
When will Ulta Beauty report its next earnings?
Ulta Beauty is expected to report results for the quarter ending October 31, 2026 on December 3, 2026 after the market closes.
When does Ulta Beauty's fiscal year end?
Ulta Beauty's fiscal year ends in January. The latest annual report covers the year ended January 31, 2026 and was filed on March 26, 2026.