Ulta Beauty, Inc. (ULTA) P/E Ratio History
Historical price-to-earnings valuation from 2007 to 2025
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ULTA Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 8, 2026, Ulta Beauty, Inc. (ULTA) trades at a price-to-earnings ratio of 20.5x, with a stock price of $526.53 and trailing twelve-month earnings per share of $25.64.
The current P/E is roughly in line with its 5-year average of 20.1x. Over the past five years, ULTA's P/E has ranged from a low of 13.7x to a high of 38.3x, placing the current valuation at the 70th percentile of its historical range.
Compared to the Consumer Cyclical sector median P/E of 19.4x, ULTA is roughly in line with its sector peers. The sector includes 302 companies with P/E ratios ranging from 0.1x to 199.2x.
The PEG ratio of 0.39 (P/E divided by 1% EPS growth) suggests the stock may be undervalued relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, ULTA trades roughly in line with the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our ULTA DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
ULTA P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $4B | 6.3Lowest | - | -15% | |
| $3B | 32.2 | 0.79 | -13% | |
| $1B | 7.3 | 0.53 | +32% | |
| $171B | 31.7 | 0.24Best | +15% | |
| $12B | 34.2 | 1.42 | +40%Best | |
| $5B | 21.0 | 18.83 | +20% | |
| $3B | 17.9 | 0.53 | +2% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
ULTA Historical P/E Data (2007–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Sat Jan 31 2026 00:00:00 GM | $647.36 | $25.64 | 25.2x | -18% |
| FY2025 Q3 | Sat Nov 01 2025 00:00:00 GM | $519.88 | $26.08 | 19.9x | -35% |
| FY2025 Q2 | Sat Aug 02 2025 00:00:00 GM | $507.73 | $26.08 | 19.5x | -37% |
| FY2025 Q1 | Sat May 03 2025 00:00:00 GM | $395.81 | $25.60 | 15.5x | -50% |
| FY2024 Q4 | Fri Jan 31 2025 00:00:00 GM | $412.15 | $25.37 | 16.2x | -47% |
| FY2024 Q3 | Sat Nov 02 2024 00:00:00 GM | $377.65 | $24.99 | 15.1x | -51% |
| FY2024 Q2 | Sat Aug 03 2024 00:00:00 GM | $341.01 | $24.92 | 13.7x | -56% |
| FY2024 Q1 | Sat May 04 2024 00:00:00 GM | $397.39 | $25.64 | 15.5x | -50% |
| FY2023 Q4 | Wed Jan 31 2024 00:00:00 GM | $502.05 | $26.05 | 19.3x | -38% |
| FY2023 Q3 | Sat Oct 28 2023 00:00:00 GM | $379.87 | $24.65 | 15.4x | -50% |
| FY2023 Q2 | Sat Jul 29 2023 00:00:00 GM | $445.39 | $24.92 | 17.9x | -42% |
| FY2023 Q1 | Sat Apr 29 2023 00:00:00 GM | $551.43 | $24.60 | 22.4x | -27% |
Average P/E for displayed period: 30.9x
Full ULTA Stock Analysis
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Start ComparisonULTA — Frequently Asked Questions
Quick answers to the most common questions about buying ULTA stock.
Is ULTA stock overvalued or undervalued?
ULTA trades at 20.5x P/E, near its 5-year average of 20.1x. The 70th percentile ranking places valuation within normal historical bounds.
How does ULTA's valuation compare to peers?
Ulta Beauty, Inc. P/E of 20.5x compares to sector median of 19.4x. The premium reflects expected growth above peers.
What is ULTA's PEG ratio?
ULTA PEG ratio is 0.39. Below 1.0 indicates valuation is supported by earnings growth rate. Historical P/E data spans 2007-2025.