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Ulta Beauty Income Statement 2026-2009 | ULTA
Brief overview of financial performance at Ulta Beauty
This overview is based on financial performance over the past five years. Ulta Beauty reported revenue of $6.2 billion in 2021 and $12.4 billion by 2026. The five-year change reached +101.4%, while CAGR stood at 15%. The pace indicates confident and sustained business growth.
At the gross-profit level, the result moved from 1.9 billion dollars to 4.8 billion dollars, a change of +148.6%. Cost of revenue developed more favorably than sales, supporting gross profitability. The gross margin was 31.7% at the start and 39.1% at the end. A wider margin shows that the economics of the core business improved.
Over the period, EBITDA shifted from 535 million dollars to 1.8 billion dollars, a change of +243%. EBITDA expanded faster than the top line. Comparing the endpoints gives EBITDA margins of 8.7% and 14.8%. The business generated more EBITDA from each unit of revenue.
The five-year change in net income was +555.7%: from 176 million dollars to 1.2 billion dollars. Net profitability strengthened faster than the top line.
Market value was $23.2 billion at the start and $23.4 billion at the end. Capitalization grew more slowly than the underlying results.
What the figures show
Most key measures improved without a pronounced weak signal. Key strengths include a larger revenue base, a stronger final result and improving gross profitability. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement Ulta Beauty
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
23.4 B | 24.6 B | 25.4 B | 26.5 B | 28.1 B | 23.2 B | 15.2 B | 18.7 B | 12.3 B | 17.3 B | 10.6 B | 9.24 B | 5.7 B | 5.78 B | 5.25 B | 2.53 B | 1.43 B | - |
Shares |
44.8 M | 47.2 M | 49.3 M | 51.4 M | 54.5 M | 56.4 M | 58.1 M | 60.2 M | 62 M | 62.9 M | 64.3 M | 64.3 M | 64.5 M | 64.4 M | 63.3 M | 61.3 M | 57.9 M | - |
Historical Prices |
522 | 522 | 514 | 515 | 515 | 412 | 287 | 253 | 245 | 224 | 255 | 185 | 128 | 96.5 | 98.3 | 64.2 | 24.8 | 9.04 |
Net Income |
1.15 B | 1.2 B | 1.29 B | 1.24 B | 986 M | 176 M | 706 M | 659 M | 555 M | 410 M | 320 M | 257 M | 203 M | 172 M | 120 M | 71 M | 14.2 M | - |
Revenue |
12.4 B | 11.3 B | 11.2 B | 10.2 B | 8.63 B | 6.15 B | 7.4 B | 6.72 B | 5.88 B | 4.85 B | 3.92 B | 3.24 B | 2.67 B | 2.22 B | 1.78 B | 1.45 B | - | - |
Cost of Revenue |
7.55 B | 6.91 B | 6.83 B | 6.16 B | 5.26 B | 4.2 B | 4.72 B | 4.31 B | 3.79 B | 3.11 B | 2.54 B | 2.1 B | 1.73 B | 1.44 B | 1.16 B | 971 M | 220 M | - |
Gross Profit |
4.85 B | 4.39 B | 4.38 B | 4.04 B | 3.37 B | 1.95 B | 2.68 B | 2.41 B | 2.1 B | 1.75 B | 1.38 B | 1.14 B | 941 M | 784 M | 617 M | 484 M | 119 M | - |
Operating Income |
1.53 B | 1.56 B | 1.68 B | 1.64 B | 1.3 B | 237 M | 901 M | 854 M | 785 M | 655 M | 506 M | 410 M | 328 M | 280 M | 196 M | 119 M | 24.3 M | - |
Interest Expense |
- | - | - | - | - | - | - | - | 1.57 M | 890 K | 1.14 M | 894 K | 118 K | 185 K | 587 K | 755 K | 244 K | - |
EBITDA |
1.83 B | 1.83 B | 1.92 B | 1.88 B | 1.57 B | 535 M | 1.2 B | 1.13 B | 1.04 B | 865 M | 671 M | 542 M | 434 M | 368 M | 272 M | 184 M | 86.5 M | - |
Operating Expenses |
- | - | - | - | - | - | 1.78 B | 1.56 B | 1.31 B | 1.09 B | 878 M | 726 M | 614 M | 504 M | 421 M | 365 M | - | - |
General and Administrative Expenses |
3.3 B | 2.81 B | 2.69 B | 2.4 B | 2.06 B | 1.58 B | 1.78 B | 1.56 B | 1.31 B | 1.09 B | 878 M | 712 M | 614 M | 504 M | 421 M | 365 M | 90.3 M | - |
All numbers in USD currency
Quarterly Income Statement Ulta Beauty
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
45 M | 43.8 M | - | 44.7 M | 45 M | 45.4 M | 46 M | 46.9 M | 47.5 M | 48.1 M | 48.3 M | 49 M | 49.6 M | 50.2 M | 50.4 M | 51.1 M | 51.6 M | 52.2 M | 56.3 M | 54.3 M | 54.7 M | 55.8 M | 56.6 M | 56.3 M | 56.3 M | 56.4 M | 58.6 M | 57.6 M | 58.2 M | 58.6 M | 60.8 M | 59.7 M | 60.1 M | 60.6 M | 62.1 M | 61.3 M | 61.9 M | 62.1 M | 63.5 M | 62.4 M | 62.5 M | 63 M | 64.2 M | 63.9 M | 64.1 M | 64.2 M | 64.2 M | 64.4 M | 64.3 M | 64.3 M | 64 M | 64.1 M | 63.8 M | 63.8 M | 62.2 M | 63.5 M | 63.1 M | 62.5 M | 60.2 M | 61.5 M | 61.1 M | 60.6 M |
Net Income |
261 M | 340 M | - | 231 M | 261 M | 305 M | - | 242 M | 253 M | 313 M | - | 249 M | 300 M | 347 M | - | 275 M | 296 M | 331 M | 171 M | 215 M | 251 M | 230 M | 223 M | 74.8 M | 8.05 M | -78.5 M | 215 M | 130 M | 161 M | 192 M | 208 M | 131 M | 148 M | 164 M | 140 M | 105 M | 114 M | 128 M | 108 M | 87.6 M | 90 M | 92 M | 87.3 M | 71.1 M | 74.2 M | 66.9 M | 70.7 M | 59.1 M | 60.8 M | 50 M | 64.5 M | 45.4 M | 44.9 M | 41.8 M | 46.3 M | 38.2 M | 35 M | 34.9 M | 30.1 M | 26.8 M | 23.9 M | 23.3 M |
Revenue |
2.79 B | 3.16 B | - | 2.86 B | 2.79 B | 2.85 B | - | 2.53 B | 2.55 B | 2.73 B | - | 2.49 B | 2.53 B | 2.63 B | - | 2.34 B | 2.3 B | 2.35 B | 2.2 B | 2 B | 1.97 B | 1.94 B | 2.31 B | 1.55 B | 1.23 B | 1.17 B | 2.12 B | 1.68 B | 1.67 B | 1.74 B | 1.94 B | 1.56 B | 1.49 B | 1.54 B | 1.58 B | 1.34 B | 1.29 B | 1.31 B | 1.27 B | 1.13 B | 1.07 B | 1.07 B | 1.05 B | 911 M | 877 M | 868 M | 868 M | 746 M | 734 M | 714 M | 759 M | 619 M | 601 M | 583 M | 583 M | 506 M | 482 M | 474 M | 474 M | 413 M | 395 M | 386 M |
Cost of Revenue |
1.7 B | 1.9 B | - | 1.7 B | 1.7 B | 1.73 B | - | 1.52 B | 1.57 B | 1.66 B | - | 1.5 B | 1.54 B | 1.58 B | - | 1.38 B | 1.37 B | 1.4 B | 1.43 B | 1.21 B | 1.17 B | 1.18 B | 1.5 B | 1.01 B | 899 M | 870 M | 1.38 B | 1.06 B | 1.06 B | 1.1 B | 1.28 B | 988 M | 953 M | 983 M | 1.04 B | 849 M | 821 M | 839 M | 829 M | 704 M | 684 M | 683 M | 698 M | 575 M | 571 M | 565 M | 575 M | 464 M | 475 M | 468 M | 499 M | 387 M | 389 M | 379 M | 384 M | 320 M | 314 M | 303 M | 317 M | 264 M | 260 M | 251 M |
Gross Profit |
1.09 B | 1.27 B | - | 1.16 B | 1.09 B | 1.11 B | - | 1.01 B | 978 M | 1.07 B | - | 992 M | 994 M | 1.05 B | - | 963 M | 928 M | 941 M | 771 M | 789 M | 798 M | 754 M | 807 M | 546 M | 329 M | 304 M | 741 M | 623 M | 606 M | 645 M | 658 M | 572 M | 535 M | 561 M | 545 M | 493 M | 469 M | 476 M | 439 M | 427 M | 385 M | 390 M | 350 M | 336 M | 306 M | 303 M | 294 M | 282 M | 259 M | 246 M | 260 M | 232 M | 212 M | 204 M | 198 M | 185 M | 168 M | 171 M | 157 M | 149 M | 134 M | 135 M |
Operating Income |
345 M | 448 M | - | 309 M | 345 M | 402 M | - | 319 M | 329 M | 401 M | - | 327 M | 392 M | 442 M | - | 362 M | 391 M | 438 M | 224 M | 284 M | 332 M | 305 M | 288 M | 101 M | 12.8 M | -101 M | 281 M | 168 M | 208 M | 238 M | 254 M | 169 M | 194 M | 210 M | 224 M | 163 M | 180 M | 188 M | 169 M | 140 M | 144 M | 147 M | 137 M | 111 M | 118 M | 108 M | 114 M | 94.1 M | 98 M | 80.9 M | 104 M | 72.9 M | 72.9 M | 67.7 M | 73.2 M | 61.3 M | 57.5 M | 57.4 M | 49 M | 44.2 M | 39.7 M | 39.1 M |
Interest Expense |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 359 K | - | - | - | 116 K | 316 K | 555 K | 338 K | 273 K | 211 K | 248 K | 315 K | 231 K | 283 K | 276 K | 311 K | 69 K | 254 K | 209 K | 200 K | 21 K | 7 K | 18 K | 24 K | 91 K | 39 K | 104 K | 21 K | 179 K | 176 K | 147 K | 173 K |
EBITDA |
416 M | 530 M | - | 385 M | 416 M | 474 M | - | - | 395 M | 466 M | - | - | - | 500 M | - | 544 M | 515 M | 501 M | 224 M | 489 M | 472 M | 376 M | 288 M | 328 M | 167 M | -24.9 M | 281 M | 387 M | 353 M | 309 M | 254 M | 377 M | 332 M | 279 M | 224 M | 350 M | 305 M | 251 M | 169 M | 291 M | 241 M | 195 M | 137 M | 230 M | 195 M | 146 M | 114 M | 190 M | 160 M | 111 M | 104 M | 150 M | 124 M | 92.5 M | 73.2 M | 126 M | 100 M | 78.4 M | 49 M | 99.9 M | 76.1 M | 56.6 M |
General and Administrative Expenses |
742 M | 815 M | - | 841 M | 742 M | 711 M | - | 682 M | 645 M | 666 M | - | 661 M | 601 M | 612 M | - | 597 M | 534 M | 501 M | 514 M | 503 M | 464 M | 444 M | 516 M | 416 M | 272 M | 381 M | 457 M | 449 M | 393 M | 403 M | 400 M | 395 M | 337 M | 346 M | 316 M | 321 M | 283 M | 283 M | 268 M | 280 M | 236 M | 241 M | 211 M | 219 M | 184 M | 192 M | 178 M | 181 M | 158 M | 162 M | 154 M | 151 M | 134 M | 133 M | 124 M | 118 M | 106 M | 111 M | 107 M | 101 M | 90.8 M | 94.6 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Ulta Beauty (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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