Ulta Beauty, Inc. (ULTA) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
Revenue Breakdown (FY 2024)
ULTA's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
ULTA Revenue Analysis (2013–2024)
As of March 1, 2026, Ulta Beauty, Inc. (ULTA) generated trailing twelve-month (TTM) revenue of $11.65 billion, reflecting solid growth of +9.3% year-over-year. The most recent quarter (Q2 2025) recorded $2.79 billion in revenue, down 2.1% sequentially.
Looking at the longer-term picture, ULTA's 5-year compound annual growth rate (CAGR) stands at +8.8%, indicating steady revenue expansion. The company achieved its highest annual revenue of $11.30 billion in 2024, representing a new all-time high.
Revenue diversification analysis shows ULTA's business is primarily driven by Gift card breakage (100%). With over half of revenue concentrated in Gift card breakage, the company maintains significant focus in this area while developing other growth vectors.
When compared to Consumer Cyclical sector peers including BBWI (-1.0% YoY), YSG (+23.7% YoY), and SBH (-0.5% YoY), ULTA has underperformed the peer group in terms of revenue growth. Compare ULTA vs BBWI →
Peer Comparison
Compare ULTA's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ULTACurrent | $11.7B | +9.3% | +8.8% | 14.0% | |
| BBWI | $7.3B | -1.0% | +6.2% | 17.3% | |
| YSG | $3.4B | +23.7% | +2.6% | -12.4% | |
| SBH | $3.7B | -0.5% | +1.0% | 8.9% | |
| OLPX | $423M | -3.5% | +23.3% | 15.8% | |
| HNST | $371M | -1.9% | +4.3% | -5.0% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $11.30B | +0.8% | $4.39B | 38.8% | $1.58B | 14.0% |
| 2023 | $11.21B | +9.8% | $4.38B | 39.1% | $1.69B | 15.0% |
| 2022 | $10.21B | +18.3% | $4.04B | 39.6% | $1.65B | 16.2% |
| 2021 | $8.63B | +40.3% | $3.37B | 39.0% | $1.25B | 14.5% |
| 2020 | $6.15B | -16.8% | $1.95B | 31.7% | $313.7M | 5.1% |
| 2019 | $7.40B | +10.1% | $2.68B | 36.2% | $920.3M | 12.4% |
| 2018 | $6.72B | +14.1% | $2.41B | 35.9% | $873.8M | 13.0% |
| 2017 | $5.88B | +21.2% | $2.10B | 35.6% | $809.6M | 13.8% |
| 2016 | $4.85B | +23.7% | $1.75B | 36.0% | $673.4M | 13.9% |
| 2015 | $3.92B | +21.1% | $1.38B | 35.3% | $521.0M | 13.3% |
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Start ComparisonFrequently Asked Questions
Is ULTA's revenue growth accelerating or slowing?
ULTA maintains +9.3% revenue growth, in line with its 5-year CAGR of +8.8%. TTM revenue stands at $11.7B. Growth rate remains consistent with historical average.
What is ULTA's long-term revenue growth rate?
Ulta Beauty, Inc.'s 5-year revenue CAGR of +8.8% reflects the sustained expansion pattern. Current YoY growth of +9.3% is near this long-term average.
How is ULTA's revenue distributed by segment?
ULTA reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.