Last 47 quarters of trend data · Consumer Cyclical · Specialty Retail
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Ulta Beauty, Inc.'s quarterly P/E stands at 20.2x, up 65.7% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has compressed 74.9% YoY to 2.2x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 20.54 | 20.18 | 25.29 | 21.96 | 14.77 | 12.18 | 18.37 | 16.09 | 15.36 | 15.53 | 18.73 | 18.50 | 20.04 |
| — | +65.7% | +37.7% | +36.5% | -3.8% | -21.6% | -1.9% | -13.0% | -23.4% | -19.2% | -3.9% | +8.4% | +27.3% | |
| P/S Ratio | 1.94 | 1.87 | 2.04 | 2.05 | 1.58 | 1.37 | 1.76 | 1.59 | 1.76 | 1.72 | 1.88 | 2.19 | 2.64 |
| — | +36.0% | +16.2% | +29.0% | -10.3% | -20.3% | -6.4% | -27.4% | -33.2% | -15.1% | -17.9% | -0.1% | +18.8% | |
| P/B Ratio | 8.45 | 10.39 | 8.86 | 8.80 | 7.41 | 7.70 | 7.64 | 6.92 | 8.36 | 10.75 | 9.22 | 10.82 | 13.79 |
| — | +35.0% | +16.1% | +27.1% | -11.3% | -28.4% | -17.2% | -36.0% | -39.4% | -19.6% | -17.2% | -5.2% | +15.4% | |
| P/FCF | 22.56 | 8.02 | — | 292.67 | 31.94 | 4.97 | — | 38.98 | 70.36 | 6.16 | — | 191.89 | 35.65 |
| — | +61.3% | — | +650.9% | -54.6% | -19.3% | — | -79.7% | +97.3% | -24.7% | — | +147.0% | +142.8% | |
| EV / EBITDA | 5.34 | 2.17 | 16.46 | 14.81 | 10.27 | 8.66 | 12.65 | 11.14 | 10.99 | 11.00 | 13.18 | 13.02 | 14.53 |
| — | -74.9% | +30.2% | +32.9% | -6.6% | -21.2% | -4.1% | -14.4% | -24.4% | -18.2% | -2.9% | +9.6% | +32.5% | |
| EV / EBIT | 5.34 | 2.04 | 20.77 | 18.01 | 12.05 | 9.83 | 15.42 | 13.31 | 12.62 | 12.32 | 15.68 | 14.95 | 16.18 |
| — | -79.2% | +34.7% | +35.3% | -4.6% | -20.2% | -1.7% | -11.0% | -22.0% | -18.6% | -1.3% | +8.4% | +28.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Ulta Beauty, Inc.'s operating margin was 96.9% in Q4 2025, up 85.9 pp QoQ and up 82.0 pp YoY. The trailing four-quarter average of 33.7% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.1% | 38.1% | 40.4% | 39.2% | 39.1% | 38.2% | 39.7% | 38.3% | 39.2% | 37.7% | 39.9% | 39.3% | 40.0% |
| — | -0.5% | +1.7% | +2.1% | -0.3% | +1.4% | -0.3% | -2.4% | -2.0% | +0.4% | -3.2% | -2.8% | -0.2% | |
| Operating Margin | 39.1% | 96.9% | 11.0% | 12.6% | 14.2% | 14.9% | 12.8% | 13.1% | 14.8% | 14.6% | 13.3% | 15.5% | 16.8% |
| — | +552.2% | -13.8% | -3.9% | -4.4% | +1.5% | -3.8% | -15.9% | -11.8% | +5.0% | -15.0% | -9.4% | -10.4% | |
| Net Margin | 9.3% | 9.1% | 8.1% | 9.4% | 10.7% | 11.3% | 9.6% | 9.9% | 11.5% | 11.1% | 10.0% | 11.9% | 13.2% |
| — | -18.9% | -15.6% | -5.5% | -6.8% | +1.6% | -4.5% | -16.6% | -12.8% | +5.1% | -14.6% | -7.8% | -6.7% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 43.6% | 13.1% | 8.8% | 10.4% | 12.4% | 16.3% | 10.4% | 10.9% | 13.7% | 18.3% | 12.2% | 14.7% | 17.4% |
| — | -19.6% | -14.9% | -4.6% | -9.3% | -10.8% | -15.3% | -26.3% | -21.6% | +4.3% | -17.8% | -12.4% | -13.6% | |
| ROA | 17.7% | 5.1% | 3.4% | 4.1% | 5.1% | 6.6% | 4.1% | 4.4% | 5.5% | 7.0% | 4.6% | 5.6% | 6.5% |
| — | -22.6% | -18.3% | -6.9% | -7.9% | -5.8% | -10.0% | -21.4% | -14.5% | +9.6% | -13.9% | -4.9% | -4.7% | |
| ROIC | 87.9% | 59.2% | 4.9% | 6.1% | 7.9% | 9.7% | 5.9% | 6.6% | 8.5% | 10.5% | 6.6% | 8.6% | 10.4% |
| — | +509.9% | -17.8% | -8.1% | -7.5% | -7.5% | -9.5% | -23.1% | -17.6% | +4.2% | -19.0% | -10.4% | -7.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Ulta Beauty, Inc.'s Debt/EBITDA ratio is 0.6x, down from 6.6x last quarter — comfortably within a safe range. The current ratio has weakened 17.0% YoY to 1.41x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.78 | 0.78 | 0.98 | 0.88 | 0.81 | 0.77 | 0.92 | 0.82 | 0.82 | 0.84 | 1.04 | 0.92 | 0.94 |
| — | +0.7% | +6.4% | +7.0% | -1.2% | -7.8% | -11.2% | -10.4% | -12.5% | -13.7% | +4.9% | -12.7% | -11.0% | |
| Debt / EBITDA | 0.45 | 0.61 | 6.59 | 5.43 | 4.15 | 3.27 | 5.48 | 4.84 | 4.04 | 3.28 | 5.36 | 4.13 | 3.79 |
| — | -81.2% | +20.2% | +12.3% | +2.8% | -0.3% | +2.4% | +17.0% | +6.5% | -12.3% | +19.7% | +1.2% | +3.4% | |
| Current Ratio | 1.41 | 1.41 | 1.33 | 1.39 | 1.67 | 1.70 | 1.63 | 1.76 | 1.76 | 1.71 | 1.52 | 1.69 | 1.64 |
| — | -17.0% | -18.4% | -20.7% | -5.1% | -0.5% | +7.0% | +4.1% | +6.8% | +6.2% | -6.0% | +3.9% | +3.9% | |
| Quick Ratio | 0.43 | 0.43 | 0.25 | 0.30 | 0.46 | 0.60 | 0.32 | 0.50 | 0.54 | 0.66 | 0.26 | 0.47 | 0.57 |
| — | -27.4% | -23.9% | -40.2% | -14.6% | -9.7% | +26.7% | +6.6% | -5.0% | +0.4% | -31.1% | -8.7% | -4.8% | |
| Interest Coverage | 2711.37 | — | 76.34 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorDCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare business quality, growth, and profitability against top sector peers.
Start ComparisonQuick answers to the most common questions about buying ULTA stock.
Ulta Beauty, Inc.'s current P/E is 20.5x. The average P/E over the last 4 quarters is 20.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Ulta Beauty, Inc.'s current operating margin is 39.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Ulta Beauty, Inc.'s business trajectory between earnings reports.