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Screener / SEC EDGAR /CIK 0001403568 /10-K filed Mar 26, 2026, compared with Mar 27, 2025 /Numbers from the XBRL of the 10-Ks
Consumer discretionary peers:
EBAYULTACMGDRIHLTLVS
Nasdaq Consumer discretionary · Specialty Retail

Ulta Beauty ULTA

ULTA quote by TradingView

Ulta Beauty, Inc. (“we,” “us,” “our,” “Ulta Beauty,” or the “Company”) is an international specialty beauty retailer and a premier beauty destination for cosmetics, fragrance, skin care products, wellness products, hair care products, and salon services. 10-K, Item 1

Employees
65,000
Headquarters
Bolingbrook, IL
CEO
Kecia Steelman
Next results
around Dec 3, 2026
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $12.4B through the costs to a net profit of $1.2B · income statement of the 10-K

12% operating margin
Revenue to Gross profit: $4.8BRevenue to Cost of revenue: $7.5BGross profit to Operating profit: $1.5BGross profit to Operating expenses: $3.3BOperating profit to Net profit: $1.2BOperating profit to Tax: $379.5M Revenue: $12.4B REVENUE $12.4B +10% Y/Y Gross profit: $4.8B · 39% margin GROSS PROFIT $4.8B 39% margin · +10% Y/Y Cost of revenue: $7.5B · 61% of revenue COST OF REVENUE $7.5B 61% of revenue Operating profit: $1.5B · 12% margin OPERATING PROFIT $1.5B 12% margin · −2% Y/Y Operating expenses: $3.3B · 27% of revenue OPERATING EXPENSES $3.3B 27% of revenue Net profit: $1.2B · 9% margin NET PROFIT $1.2B 9% margin · −4% Y/Y Tax: $379.5M · 3% of revenue TAX $379.5M 3% of revenue
Gross profit $4.8B 39% margin · +10% Y/Y
Operating profit $1.5B 12% margin · −2% Y/Y
Net profit $1.2B 9% margin · −4% Y/Y
The full income statement, year by year

ULTA among Consumer discretionary peers

Six ratios from the latest 10-K. Each corner is the share of 46 peers the company is above, not a score.

Compare
Revenue growth: 9.7%, above 76% of 46 peers (their median 5.2%) REVENUE GROWTH 9.7% · above 76% Gross margin: 39.3%, above 43% of 30 peers (their median 42.2%) GROSS MARGIN 39.3% · above 43% Operating margin: 12.5%, above 33% of 39 peers (their median 16.0%) OPERATING MARGIN 12.5% · above 33% Net margin: 9.3%, above 41% of 46 peers (their median 11.0%) NET MARGIN 9.3% · above 41% FCF margin: 8.9%, above 43% of 44 peers (their median 9.5%) FCF MARGIN 8.9% · above 43% Return on capital: 38.8%, above 83% of 24 peers (their median 22.1%) RETURN ON CAPITAL 38.8% · above 83%
ULTA Peer median Below the median

What changed

29 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Mar 26, 2026 against Mar 27, 2025.

Risk factors
29 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +32.6% vs revenue +9.7% (+22.9 pts)
10-K · XBRL
Accounting checks
9 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
0 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 9 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +32.6% vs revenue +9.7% (+22.9 pts)
  • Cash from operations $1.5B vs net income $1.2B (FY ending Jan 31, 2026)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: Ernst & Young LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Loyalty Program
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

29 paragraphs in Risk Factors that were not in the 10-K filed Mar 27, 2025. Quoted as filed.

All 29 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Mar 27, 2025 10-K, ITEM 1A
    We have historically experienced and expect to continue to experience seasonal fluctuations in our net sales, operating income, and net income. A significant portion of our net sales and profits is driven by holidays, such as Valentine’s Day and Mother’s Day in the first and second quarters and the November/December holiday season in…
  2. Item 1A · new paragraph · not in the 10-K filed Mar 27, 2025 10-K, ITEM 1A
    We must maintain sufficient inventory levels of merchandise that our guests desire to successfully operate our business. A shortage of popular merchandise could reduce our net sales. Conversely, we also must seek to avoid accumulating excess inventory to maintain appropriate in-stock levels. If we overstock unpopular merchandise, then…
  3. Item 1A · new paragraph · not in the 10-K filed Mar 27, 2025 10-K, ITEM 1A
    The development and use or misuse of AI or the failure to use AI present risks and challenges that may negatively affect our business. Failure to adapt to a rapidly changing technological environment or failure to adopt emerging technologies, including advances relating to AI and agentic commerce, in a timely manner could negatively…
  4. Item 1A · new paragraph · not in the 10-K filed Mar 27, 2025 10-K, ITEM 1A
    Recent or potential future legislative initiatives may seek to increase the federal minimum wage in the United States, as well as the minimum wages in certain individual states or markets. As federal or state minimum wage rates increase, we may need to increase not only the wage rates of our minimum wage associates, but also the wages…

New risk paragraphs, against peers

Latest 10-K of each, Consumer discretionary companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$10.2B$11.2B$11.3B$12.4B
Net income$1.2B$1.3B$1.2B$1.2B
Operating cash flow$1.5B$1.5B$1.3B$1.5B
Free cash flow$1.2B$1.0B$964.1M$1.1B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$12.4B ▲ 9.7% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

No new filings in the last 30 days · SEC EDGAR

All filings

Nothing new. The most recent filings:

About the company

Ulta Beauty, Bolingbrook, IL · from the 10-K filed Mar 26, 2026

Ulta Beauty, Inc. (“we,” “us,” “our,” “Ulta Beauty,” or the “Company”) is an international specialty beauty retailer and a premier beauty destination for cosmetics, fragrance, skin care products, wellness products, hair care products, and salon services. The Company was founded in Illinois in 1990 as a beauty retailer at a time when prestige, mass, and salon products were sold through distinct channels - department stores for prestige products; drug stores and mass merchandisers for mass products; and salons and authorized retail outlets for professional hair care products.

Headquarters
Bolingbrook, IL
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
January 30
Last results
Aug 27, 2026

Employees, at the top of the page: "As of January 31, 2026, the Company employed approximately 65,000 associates in the U" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Mar 26, 2026 (open at SEC), compared with the 10-K filed Mar 27, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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