Comprehensive Stock Comparison
Compare Ulta Beauty, Inc. (ULTA) vs Amazon.com, Inc. (AMZN) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | AMZN | 12.4% revenue growth vs ULTA's 0.8% |
| Value | ULTA | Lower P/E (26.7x vs 27.0x) |
| Quality / Margins | AMZN | 10.8% net margin vs ULTA's 10.3% |
| Stability / Safety | ULTA | Beta 0.90 vs AMZN's 1.31 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | ULTA | +86.9% vs AMZN's -1.1% |
| Efficiency (ROA) | ULTA | 18.1% ROA vs AMZN's 9.5%, ROIC 33.2% vs 14.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Ulta Beauty is a specialty beauty retailer operating physical stores and an e-commerce platform that sells cosmetics, skincare, haircare, and fragrance products alongside in-store salon services. It generates revenue primarily from retail product sales — including its private label Ulta Beauty Collection — with salon services contributing a smaller portion of total sales. The company's key advantage is its unique "beauty playground" format that combines mass and prestige brands under one roof alongside professional salon services, creating a differentiated omnichannel experience.
Amazon is a global e-commerce and technology giant that operates online marketplaces, physical stores, and cloud computing services. It generates revenue primarily from online retail sales (~80% of total), Amazon Web Services cloud computing (~15%), and advertising/subscription services like Prime. Its key competitive advantage is an immense logistics network and data infrastructure moat—including AWS's dominant cloud position—that creates massive scale economies and ecosystem lock-in.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
ULTA leads in 3 of 6 categories — strongest in Valuation Metrics and Profitability & Efficiency. 2 categories are tied.
Financial Metrics (TTM)
AMZN is the larger business by revenue, generating $716.9B annually — 61.5x ULTA's $11.7B. Profitability is closely matched — net margins range from 10.8% (AMZN) to 10.3% (ULTA). On growth, AMZN holds the edge at +13.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ULTAUlta Beauty, Inc. | AMZNAmazon.com, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $11.7B | $716.9B |
| EBITDAEarnings before interest/tax | $1.9B | $126.3B |
| Net IncomeAfter-tax profit | $1.2B | $77.7B |
| Free Cash FlowCash after capex | $952M | $7.7B |
| Gross MarginGross profit ÷ Revenue | +39.0% | +50.3% |
| Operating MarginEBIT ÷ Revenue | +13.7% | +11.2% |
| Net MarginNet income ÷ Revenue | +10.3% | +10.8% |
| FCF MarginFCF ÷ Revenue | +8.2% | +1.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.3% | +13.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +9.1% | +4.8% |
Valuation Metrics
At 27.0x trailing earnings, ULTA trades at a 8% valuation discount to AMZN's 29.3x P/E. Adjusting for growth (PEG ratio), AMZN offers better value at 1.05x vs ULTA's 1.71x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ULTAUlta Beauty, Inc. | AMZNAmazon.com, Inc. |
|---|---|---|
| Market CapShares × price | $31.3B | $2.25T |
| Enterprise ValueMkt cap + debt − cash | $32.6B | $2.32T |
| Trailing P/EPrice ÷ TTM EPS | 27.02x | 29.29x |
| Forward P/EPrice ÷ next-FY EPS est. | 26.71x | 27.03x |
| PEG RatioP/E ÷ EPS growth rate | 1.71x | 1.05x |
| EV / EBITDAEnterprise value multiple | 17.64x | 18.38x |
| Price / SalesMarket cap ÷ Revenue | 2.77x | 3.14x |
| Price / BookPrice ÷ Book value/share | 13.05x | 5.55x |
| Price / FCFMarket cap ÷ FCF | 32.50x | 292.96x |
Profitability & Efficiency
ULTA delivers a 46.1% return on equity — every $100 of shareholder capital generates $46 in annual profit, vs $19 for AMZN. AMZN carries lower financial leverage with a 0.37x debt-to-equity ratio, signaling a more conservative balance sheet compared to ULTA's 0.77x. On the Piotroski fundamental quality scale (0–9), AMZN scores 6/9 vs ULTA's 5/9, reflecting solid financial health.
| Metric | ULTAUlta Beauty, Inc. | AMZNAmazon.com, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +46.1% | +18.9% |
| ROA (TTM)Return on assets | +18.1% | +9.5% |
| ROICReturn on invested capital | +33.2% | +14.7% |
| ROCEReturn on capital employed | +38.2% | +15.3% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 0.77x | 0.37x |
| Net DebtTotal debt minus cash | $1.2B | $66.2B |
| Cash & Equiv.Liquid assets | $703M | $86.8B |
| Total DebtShort + long-term debt | $1.9B | $153.0B |
| Interest CoverageEBIT ÷ Interest expense | — | 42.78x |
Total Returns (with DRIP)
A $10,000 investment in ULTA five years ago would be worth $20,295 today (with dividends reinvested), compared to $13,349 for AMZN. Over the past 12 months, ULTA leads with a +86.9% total return vs AMZN's -1.1%. The 3-year compound annual growth rate (CAGR) favors AMZN at 30.6% vs ULTA's 9.7% — a key indicator of consistent wealth creation.
| Metric | ULTAUlta Beauty, Inc. | AMZNAmazon.com, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +10.4% | -7.3% |
| 1-Year ReturnPast 12 months | +86.9% | -1.1% |
| 3-Year ReturnCumulative with dividends | +32.0% | +122.9% |
| 5-Year ReturnCumulative with dividends | +102.9% | +33.5% |
| 10-Year ReturnCumulative with dividends | +314.5% | +660.0% |
| CAGR (3Y)Annualised 3-year return | +9.7% | +30.6% |
Risk & Volatility
ULTA is the less volatile stock with a 0.90 beta — it tends to amplify market swings less than AMZN's 1.31 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ULTA currently trades 95.8% from its 52-week high vs AMZN's 81.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ULTAUlta Beauty, Inc. | AMZNAmazon.com, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.90x | 1.31x |
| 52-Week HighHighest price in past year | $714.97 | $258.60 |
| 52-Week LowLowest price in past year | $309.01 | $161.38 |
| % of 52W HighCurrent price vs 52-week peak | +95.8% | +81.2% |
| RSI (14)Momentum oscillator 0–100 | 59.5 | 39.9 |
| Avg Volume (50D)Average daily shares traded | 449K | 40.7M |
Analyst Outlook
Wall Street rates ULTA as "Buy" and AMZN as "Buy". Consensus price targets imply 35.2% upside for AMZN (target: $284) vs 1.3% for ULTA (target: $694).
| Metric | ULTAUlta Beauty, Inc. | AMZNAmazon.com, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $693.73 | $283.97 |
| # AnalystsCovering analysts | 47 | 94 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 0 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +3.3% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Ulta Beauty, Inc. (ULTA) | 100 | 259.28 | +159.3% |
| Amazon.com, Inc. (AMZN) | 100 | 254.7 | +154.7% |
Ulta Beauty, Inc. (ULTA) returned +103% over 5 years vs Amazon.com, Inc. (AMZN)'s +33%. A $10,000 investment in ULTA 5 years ago would be worth $20,295 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ulta Beauty, Inc. (ULTA) | $4.9B | $11.3B | +132.7% |
| Amazon.com, Inc. (AMZN) | $136.0B | $716.9B | +427.2% |
Amazon.com, Inc.'s revenue grew from $136.0B (2016) to $716.9B (2025) — a 20.3% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ulta Beauty, Inc. (ULTA) | 8.4% | 10.6% | +26.0% |
| Amazon.com, Inc. (AMZN) | 1.7% | 10.8% | +521.4% |
Amazon.com, Inc.'s net margin went from 2% (2016) to 11% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Ulta Beauty, Inc. (ULTA) | 25 | 17.2 | -31.2% |
| Amazon.com, Inc. (AMZN) | 188.6 | 32.2 | -82.9% |
Ulta Beauty, Inc. has traded in a 17x–92x P/E range over 8 years; current trailing P/E is ~27x. Amazon.com, Inc. has traded in a 32x–189x P/E range over 8 years; current trailing P/E is ~29x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ulta Beauty, Inc. (ULTA) | 6.52 | 25.34 | +288.7% |
| Amazon.com, Inc. (AMZN) | 0.25 | 7.17 | +2768.0% |
Amazon.com, Inc.'s EPS grew from $0.25 (2016) to $7.17 (2025) — a 45% CAGR.
Chart 6Free Cash Flow — 5 Years
Ulta Beauty, Inc. generated $964M FCF in 2024 (+9% vs 2021). Amazon.com, Inc. generated $8B FCF in 2025 (+152% vs 2021).
ULTA vs AMZN: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is ULTA or AMZN a better buy right now?
Ulta Beauty, Inc. (ULTA) offers the better valuation at 27.0x trailing P/E (26.7x forward), making it the more compelling value choice. Analysts rate Ulta Beauty, Inc. (ULTA) a "Buy" — based on 47 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ULTA or AMZN?
On trailing P/E, Ulta Beauty, Inc. (ULTA) is the cheapest at 27.0x versus Amazon.com, Inc. at 29.3x. On forward P/E, Ulta Beauty, Inc. is actually cheaper at 26.7x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Amazon.com, Inc. wins at 0.97x versus Ulta Beauty, Inc.'s 1.69x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — ULTA or AMZN?
Over the past 5 years, Ulta Beauty, Inc. (ULTA) delivered a total return of +102.9%, compared to +33.5% for Amazon.com, Inc. (AMZN). A $10,000 investment in ULTA five years ago would be worth approximately $20K today (assuming dividends reinvested). Over 10 years, the gap is even starker: AMZN returned +660.0% versus ULTA's +314.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ULTA or AMZN?
By beta (market sensitivity over 5 years), Ulta Beauty, Inc. (ULTA) is the lower-risk stock at 0.90β versus Amazon.com, Inc.'s 1.31β — meaning AMZN is approximately 46% more volatile than ULTA relative to the S&P 500. On balance sheet safety, Amazon.com, Inc. (AMZN) carries a lower debt/equity ratio of 37% versus 77% for Ulta Beauty, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — ULTA or AMZN?
Amazon.com, Inc. (AMZN) is the more profitable company, earning 10.8% net margin versus 10.6% for Ulta Beauty, Inc. — meaning it keeps 10.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ULTA leads at 14.0% versus 11.2% for AMZN. At the gross margin level — before operating expenses — AMZN leads at 50.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is ULTA or AMZN more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Amazon.com, Inc. (AMZN) is the more undervalued stock at a PEG of 0.97x versus Ulta Beauty, Inc.'s 1.69x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Ulta Beauty, Inc. (ULTA) trades at 26.7x forward P/E versus 27.0x for Amazon.com, Inc. — 0.3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AMZN: 35.2% to $283.97.
07Which pays a better dividend — ULTA or AMZN?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is ULTA or AMZN better for a retirement portfolio?
For long-horizon retirement investors, Ulta Beauty, Inc. (ULTA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.90), +314.5% 10Y return). Both have compounded well over 10 years (ULTA: +314.5%, AMZN: +660.0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between ULTA and AMZN?
Both stocks operate in the Consumer Cyclical sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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