Ulta Beauty, Inc. (ULTA)
NASDAQ · Consumer Discretionary · market cap 20.08B
Share price
$637.57
At the last nightly close
Intrinsic value
$528.51
Range $528.51 – $608.29 — the conservative figure is the low end.
Margin of safety
-17.1%
($528.51 − $637.57) ÷ $637.57
EV / EBIT
38.8
On the median operating profit of 15 fiscal years through 2026.
How these numbers are computed
The valuations are calculated in Python from filed accounts, not written by a language model. Three methods run side by side: earnings power value, which capitalises a normalised operating profit; a free-cash-flow model; and the Graham Number as an asset-side cross-check. The conservative figure above starts from the lower of the first two; the Graham Number never enters it.
The frame gives no credit for growth unless the company has earned it: only a return on invested capital that has beaten the cost of capital year after year earns a growth credit, and that credit is capped. A company that compounds will therefore usually read as expensive against it — that is deliberate. It is a price-discipline floor, not a price target, and it is not a view on what the shares will do.
The EV/EBIT ranking uses the median operating profit of up to fifteen fiscal years — a full cycle — where the free screeners use the last twelve months. When the data cannot support a method, the figure reads n/a rather than a number: a free-cash-flow valuation on a bank, a PEG on erratic earnings, a multiple on a company with no operating profit to speak of.
Fundamentals from SEC EDGAR. Prices, market data and technicals from yfinance. Valuation computed 2026-10-23.
Key metrics
Market position
Annual financials
| Period | Revenue | Operating income | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|
| 2026-FY | 12.39B | 1.55B | 1.15B | 25.72 | 1.07B |
| 2025-FY | 11.30B | 1.58B | 1.20B | 25.44 | 964.1M |
| 2024-FY | 11.21B | 1.69B | 1.29B | 26.18 | 1.04B |
| 2023-FY | 10.21B | 1.65B | 1.24B | 24.17 | 1.17B |
| 2022-FY | 8.63B | 1.30B | 985.8M | 17.98 | 887.1M |
Filed figures from SEC EDGAR, in the reporting currency.
Next earnings
Recent news
- Ulta Beauty | Makeup, Skin Care, Fragrance, Hair Care & Beauty Productsulta.com
- Current Offers & Promotions | Ulta Beautyulta.com
- Ulta Beauty | Makeup, Skin Care, Fragrance, Hair Care & Beauty Productsulta.com
- Shop By Brand | Ulta Beautyulta.com
- Makeup & Nail Products | Ulta Beautyulta.com
Headlines link to their source. Sperio does not republish article text.
The figures above are the arithmetic. To see what a board of eight AI agents makes of them — macro, sector, filings, news and a devil's advocate whose only job is to attack the thesis — run the full analysis on ULTA.
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This page presents computed figures and filed financial data for information only. It is not investment advice, not a recommendation to buy or sell any security, and not a statement about what these shares will do. Sperio is a research tool, not an investment adviser. Figures are derived automatically from public filings and market data and may be incomplete, out of date or wrong. See the Terms & Disclaimer.