NASDAQ · ULTA
Ulta Beauty, Inc.
Consumer Cyclical · Specialty Retail
$625.33▲ 0.14% ($0.87)at close
Pre-market$629.82▲ 0.72%8:18 AM ET
Market cap
$26.74B
P/E
22.49
EPS (TTM)
$27.81
Valuation
Revenue & margin DCF
Verdict: fairly priced. Price above Base.
The price needs 8.1% revenue growth a year for 10 years. Our scenarios assume 4.3–7.5%.
That's below its past 4-year pace of 9.5%.
Value per share
Base case
$540.08
Price used $625.33 is 16% above this
USD · TTM ending Aug 1, 2026 · Price Oct 26, 8:00 PM UTC
Revenue each value needs
Revenue today $13B. The price needs $28.2B by 2036. Base case: $23.1B. At its recent pace: $32B. Bear to Bull: $19.7B to $26.6B.
Revenue today $13B. The price needs $28.2B by 2036. Base case: $23.1B. At its recent pace: $32B. Bear to Bull: $19.7B to $26.6B.
Revenue in 2036
today $13B
+$5Bmore than the Base case · 1.2×
Value per share · Base case
$540.08
Price $625.33
16% above this
- 10-yr revenue CAGR
- 6.0%
- Ending operating margin
- 12.6%
- Discount rate
- 8.3%
USD · TTM ending Aug 1, 2026 · Price Oct 26, 8:00 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 19.61% over the last year. Revenue grew 11.16% over the trailing twelve months. Operating margin moved from 13.69% to 12.56%. Free cash flow grew 12.07% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (70th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 12.56% — continued expansion would be needed to justify the premium. Revenue growth of 11.16% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Return analysis
Company profile
Ulta Beauty, Inc. functions as a prominent beauty product retailer throughout the United States.
Market multiples
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Analyst consensus
28
Buy
19
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Actuals vs estimates by quarter, or any quarter against the same one a year earlier.
Next report
Dec 3, 2026
Q3 FY26 · EPS est $5.60 · Revenue est $3.0B
Same quarter, year over year
FY26 YTD +14.5%Each cell vs the same quarter a year earlier (the cell below) · Q1–Q2 combined $14.29 vs $12.48 · all 2 quarters up
Q1
Q2
Q3
Q4
FY total
FY26
—
—
FY25
FY24
FY23
—
—
—
Fiscal year totals
- FY25
- $25.63
- +1.0%
- FY24
- $25.37
- —
Q2 FY26
Reported Aug 27, 2026 · Latest
HoverTap a cell to inspect
Actual
$6.55
Estimate
$6.22
Year over year
+13.3%
Vs prior quarter
-15.4%
Institutional Sentiment
Ulta Beauty, Inc. · ULTA
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.