Ulta Beauty Inc
NASDAQ: ULTA · CONSUMER CYCLICAL · SPECIALTY RETAIL
Updated 2026-06-05
Ulta Beauty Inc (ULTA) Financial statements
SEC filings — annual and quarterly data.
Balance sheet — annual
| Item | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $338.60M | $469.41M | $568.93M | $553.63M | $730.49M | $957.22M | $1.28B | $1.60B | $1.98B | $2.23B | $2.55B | $2.91B | $3.19B | $4.86B | $5.09B | $4.76B | $5.37B | $5.71B | $6.00B | $7.00B |
| Cash & equivalents | $3.65M | $3.79M | $3.64M | $4.02M | $111.19M | $253.74M | $320.48M | $419.48M | $389.15M | $345.84M | $385.01M | $277.44M | $409.25M | $392.32M | $1.05B | $431.56M | $737.88M | $766.59M | $703.20M | $424.24M |
| Current assets | $172.05M | $228.94M | $276.71M | $262.77M | $404.39M | $580.23M | $789.32M | $1.00B | $1.26B | $1.38B | $1.54B | $1.69B | $1.91B | $2.06B | $2.51B | $2.28B | $2.71B | $2.84B | $3.03B | $3.14B |
| Total liabilities | $189.84M | $257.91M | $323.96M | $261.03M | $327.95M | $372.51M | $488.31M | $599.63M | $735.66M | $788.03M | $1.00B | $1.13B | $1.37B | $2.96B | $3.09B | $3.23B | $3.41B | $3.43B | $3.51B | $4.20B |
| Current liabilities | $83.94M | $111.91M | $117.01M | $126.36M | $163.36M | $164.85M | $221.07M | $266.81M | $359.59M | $396.23M | $529.34M | $642.17M | $823.74M | $1.14B | $1.34B | $1.56B | $1.68B | $1.66B | $1.78B | $2.22B |
| Long-term debt | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Shareholder equity | $148.76M | $211.50M | $244.97M | $292.61M | $402.53M | $584.70M | $786.94M | $1.00B | $1.25B | $1.44B | $1.55B | $1.77B | $1.82B | $1.90B | $2.00B | $1.54B | $1.96B | $2.28B | $2.49B | $2.80B |
| Retained earnings | $-83.24M | $-69.12M | $-43.86M | $-4.50M | $66.53M | $186.79M | $296.86M | $462.38M | $679.59M | $832.22M | $905.78M | $1.09B | $1.11B | $1.13B | $1.19B | $653.38M | $995.77M | $1.29B | $1.47B | $1.74B |
| Accounts receivable | $18.48M | $20.64M | $18.27M | $13.48M | $22.29M | $26.15M | $41.52M | $47.05M | $52.44M | $64.99M | $88.63M | $99.72M | $136.17M | $139.34M | $193.11M | $233.68M | $199.42M | $207.94M | $223.33M | $296.22M |
| Inventory | $129.24M | $176.11M | $213.60M | $206.95M | $218.52M | $244.65M | $361.13M | $457.93M | $581.23M | $761.79M | $943.98M | $1.10B | $1.21B | $1.29B | $1.17B | $1.50B | $1.60B | $1.74B | $1.97B | $2.18B |
| Goodwill | — | — | — | — | — | — | — | — | — | — | — | — | $10.87M | $10.87M | $10.87M | $10.87M | $10.87M | $10.87M | $10.87M | $226.42M |
Frequently asked questions
What is Ulta Beauty Inc's revenue?
Ulta Beauty Inc's trailing twelve-month revenue is $12.71B, and consensus projects about $16.59B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is ULTA?
In its most recent fiscal year, ULTA ran a gross margin of 39.10%, an operating margin of 12.50%, and a net margin of 9.31%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does ULTA generate?
ULTA produced $1.07B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is ULTA's balance sheet healthy?
ULTA holds $424.24M in cash and equivalents against — in long-term debt, on $2.80B of shareholder equity. That debt is best read against the cash flow the business throws off each year.