Ulta Beauty Inc. (ULTA) financial statements: income statement, balance sheet and cash flow

Ulta Beauty Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Jan 31, 2026 · FY), Ulta Beauty Inc. reported revenue of $12.4B (+9.7% year on year) and net income of $1.2B (-4.0% year on year).

Income statement

Ulta Beauty Inc. income statement, fiscal years

Line item	Jan 31, 2026 · FY	Feb 1, 2025 · FY	Feb 3, 2024 · FY	Jan 28, 2023 · FY
Net sales	$12.4B	$11.3B	$11.2B	$10.2B
Cost of sales	$7.5B	$6.9B	$6.8B	$6.2B
Gross profit	$4.8B	$4.4B	$4.4B	$4.0B
Selling, general and administrative expenses	$3.3B	$2.8B	$2.7B	$2.4B
Pre-opening expenses	$15.8M	$13.7M	$8.5M	$10.6M
Operating income	$1.5B	$1.6B	$1.7B	$1.6B
Interest expense (income), net	$1.8M	($15.1M)	($17.6M)	($4.9M)
Income before income taxes and equity net loss of affiliate	$1.5B	—	—	—
Income tax expense	$373.9M	$378.9M	$404.6M	$401.1M
Income before equity net loss of affiliate	$1.2B	—	—	—
Equity net loss of affiliate	$3.9M	—	—	—
Net income	$1.2B	$1.2B	$1.3B	$1.2B
Basic	$25.72	$25.44	$26.18	$24.17
Diluted	$25.64	$25.34	$26.03	$24.01
Basic	44.8M	47.2M	49.3M	51.4M
Diluted	45.0M	47.4M	49.6M	51.7M

Ulta Beauty Inc. income statement, quarters

Line item	Aug 1, 2026 · Q3	May 2, 2026 · Q2	Nov 1, 2025 · Q3	Aug 2, 2025 · Q2
Net sales	$3.0B	$3.2B	$2.9B	$2.8B
Cost of sales	$1.8B	$1.9B	$1.7B	$1.7B
Gross profit	$1.2B	$1.3B	$1.2B	$1.1B
Selling, general and administrative expenses	$802.8M	$814.7M	$840.9M	$741.7M
Pre-opening expenses	$4.5M	$4.7M	$5.3M	$5.1M
Operating income	$379.6M	$448.3M	$309.4M	$344.9M
Interest expense (income), net	$3.7M	($652.0K)	$4.1M	($1.4M)
Income before income taxes and equity net loss of affiliate	$376.0M	$448.9M	$305.3M	$346.3M
Income tax expense	$91.9M	$106.9M	$73.4M	$84.8M
Income before equity net loss of affiliate	$284.1M	$342.0M	$231.9M	$261.5M
Equity net loss of affiliate	$2.1M	$1.6M	$985.0K	$597.0K
Net income	$282.0M	$340.5M	$230.9M	$260.9M
Basic	$6.57	$7.78	$5.16	$5.80
Diluted	$6.55	$7.74	$5.14	$5.78
Basic	43.0M	43.8M	44.7M	45.0M
Diluted	43.1M	44.0M	44.9M	45.1M

Balance sheet

Ulta Beauty Inc. balance sheet, fiscal years

Line item	Jan 31, 2026 · FY	Feb 1, 2025 · FY	Feb 3, 2024 · FY	Jan 28, 2023 · FY
Cash and cash equivalents	$424.2M	$703.2M	$766.6M	$737.9M
Short-term investments	$70.0M	—	—	—
Receivables, net	$296.2M	$223.3M	$207.9M	$199.4M
Merchandise inventories, net	$2.2B	$2.0B	$1.7B	$1.6B
Prepaid expenses and other current assets	$169.4M	$129.1M	$115.6M	$130.2M
Prepaid income taxes	$3.2M	$4.9M	$4.3M	$38.3M
Total current assets	$3.1B	$3.0B	$2.8B	$2.7B
Property and equipment, net	$1.4B	$1.2B	$1.2B	$1.0B
Operating lease assets	$1.8B	$1.6B	$1.6B	$1.6B
Goodwill	$226.4M	$10.9M	$10.9M	$10.9M
Other intangible assets, net	$203.3M	$204.0K	$510.0K	$1.3M
Deferred compensation plan assets	$53.4M	$48.0M	$43.5M	$35.4M
Other long-term assets	$124.9M	$64.7M	$58.7M	$43.0M
Total assets	$7.0B	$6.0B	$5.7B	$5.4B
Accounts payable	$685.9M	$563.8M	$544.0M	$559.5M
Accrued liabilities	$551.4M	$380.2M	$382.5M	$444.3M
Deferred revenue	$582.4M	$500.6M	$436.6M	$394.7M
Current operating lease liabilities	$306.7M	$288.1M	$283.8M	$283.3M
Accrued income taxes	$35.7M	$46.8M	$11.3M	—
Short-term debt	$62.3M	—	—	—
Total current liabilities	$2.2B	$1.8B	$1.7B	$1.7B
Non-current operating lease liabilities	$1.8B	$1.6B	$1.6B	$1.6B
Deferred income taxes	$98.8M	$42.6M	$85.9M	$55.3M
Other long-term liabilities	$59.6M	$56.1M	$56.3M	$53.6M
Total liabilities	$4.2B	$3.5B	$3.4B	$3.4B
Common stock, $0.01 par value, 400,000 shares authorized; 45,048 and 46,809 shares issued; 44,166 and 45,965 shares outstanding; at January 31, 2026 and February 1, 2025, respectively	450.0K	468.0K	491.0K	511.0K
Treasury stock-common, at cost	($120.4M)	($106.8M)	($83.0M)	($60.5M)
Additional paid-in capital	$1.2B	$1.1B	$1.1B	$1.0B
Retained earnings	$1.7B	$1.5B	$1.3B	$995.8M
Accumulated other comprehensive income	$3.8M	—	—	—
Total stockholders' equity	$2.8B	$2.5B	$2.3B	$2.0B
Total liabilities and stockholders' equity	$7.0B	$6.0B	$5.7B	$5.4B

Ulta Beauty Inc. balance sheet, quarters

Line item	Aug 1, 2026	May 2, 2026	Nov 1, 2025	Aug 2, 2025
Cash and cash equivalents	$158.5M	$166.3M	$204.9M	$242.7M
Short-term investments	$55.0M	$55.0M	—	—
Receivables, net	$249.3M	$248.2M	$237.4M	$224.4M
Merchandise inventories, net	$2.4B	$2.4B	$2.7B	$2.4B
Prepaid expenses and other current assets	$163.5M	$165.6M	$158.4M	$166.0M
Prepaid income taxes	$35.6M	—	$26.5M	$28.9M
Total current assets	$3.1B	$3.0B	$3.4B	$3.1B
Property and equipment, net	$1.4B	$1.4B	$1.4B	$1.3B
Operating lease assets	$1.9B	$1.8B	$1.7B	$1.7B
Goodwill	$223.1M	$224.6M	$392.6M	$392.6M
Other intangible assets, net	$200.2M	$201.6M	$6.1M	$5.5M
Deferred compensation plan assets	$56.8M	$52.6M	$52.7M	$50.5M
Other long-term assets	$123.0M	$124.8M	$112.8M	$98.3M
Total assets	$7.0B	$6.9B	$7.0B	$6.6B
Accounts payable	$646.2M	$713.8M	$759.0M	$708.7M
Accrued liabilities	$440.4M	$462.1M	$473.9M	$460.2M
Deferred revenue	$542.4M	$541.2M	$463.0M	$460.2M
Current operating lease liabilities	$312.6M	$309.6M	$290.7M	$282.6M
Short-term debt	$339.6M	$144.9M	$551.7M	$289.1M
Total current liabilities	$2.3B	$2.3B	$2.5B	$2.2B
Non-current operating lease liabilities	$1.9B	$1.8B	$1.7B	$1.7B
Deferred income taxes	$99.4M	$101.2M	$45.3M	$49.2M
Other long-term liabilities	$67.7M	$61.0M	$63.4M	$60.7M
Total liabilities	$4.3B	$4.3B	$4.4B	$4.0B
Common stock, $0.01 par value, 400,000 shares authorized; 43,707, 45,048, and 45,756 shares issued; 42,805, 44,166, and 44,875 shares outstanding; at August 1, 2026 (unaudited), January 31, 2026, and August 2, 2025 (unaudited), respectively	437.0K	442.0K	454.0K	458.0K
Treasury stock-common, at cost	($131.3M)	($131.2M)	($120.3M)	($120.0M)
Additional paid-in capital	$1.2B	$1.2B	$1.2B	$1.2B
Retained earnings	$1.6B	$1.5B	$1.6B	$1.6B
Accumulated other comprehensive (loss) income	($2.9M)	$88.0K	—	—
Total stockholders' equity	$2.6B	$2.6B	$2.6B	$2.6B
Total liabilities and stockholders' equity	$7.0B	$6.9B	$7.0B	$6.6B

Cash flow statement

Ulta Beauty Inc. cash flow statement, fiscal years

Line item	Jan 31, 2026 · FY	Feb 1, 2025 · FY	Feb 3, 2024 · FY	Jan 28, 2023 · FY
Net income	$1.2B	$1.2B	$1.3B	$1.2B
Depreciation and amortization	$300.8M	$267.0M	$243.8M	$241.4M
Non-cash lease expense	$351.3M	$310.6M	$332.8M	$301.9M
Deferred income taxes	($3.2M)	($43.3M)	$30.6M	$15.7M
Share-based Compensation	$37.4M	—	—	—
Loss on disposal of property and equipment	$11.0M	$11.6M	$11.4M	$6.7M
Equity net loss of affiliate	$3.9M	—	—	—
Receivables	($71.4M)	($15.4M)	($8.5M)	$34.3M
Merchandise inventories	($135.8M)	($226.1M)	($138.7M)	($104.2M)
Prepaid expenses and other current assets	($25.6M)	($13.5M)	$14.6M	($19.4M)
Income taxes	($9.2M)	$34.8M	$45.4M	($45.2M)
Accounts payable	$89.1M	$30.3M	($20.9M)	$8.3M
Accrued liabilities	$108.2M	$6.3M	($62.2M)	$48.2M
Deferred revenue	$73.4M	$64.0M	$41.9M	$41.1M
Operating lease liabilities	($352.8M)	($333.8M)	($338.1M)	($324.5M)
Other assets and liabilities	($27.6M)	$2.2M	($15.1M)	($7.7M)
Net cash provided by operating activities	$1.5B	$1.3B	$1.5B	$1.5B
Purchases of short-term investments	($70.0M)	—	—	—
Capital expenditures	($434.8M)	($374.5M)	($435.3M)	($312.1M)
Acquisitions, net of cash acquired	($386.8M)	—	—	—
Other investments	($39.7M)	($8.6M)	($6.2M)	($2.5M)
Net cash used in investing activities	($931.3M)	($383.1M)	($441.4M)	($314.6M)
Borrowings from short-term debt	$2.2B	—	—	—
Payments on short-term debt	($2.2B)	—	—	—
Repurchase of common shares	-901.4M	-1.0B	-995.7M	-900.0M
Stock options exercised	$32.6M	$12.3M	$12.2M	$46.0M
Purchase of treasury shares	-13.6M	-23.8M	-22.6M	-7.0M
Debt issuance costs	($763.0K)	($4.2M)	—	—
Net cash used in financing activities	($850.7M)	($1.0B)	($1.0B)	($861.0M)
Effect of exchange rate changes on cash and cash equivalents	$274.0K	—	—	—
Net (decrease) increase in cash and cash equivalents	($279.0M)	($63.4M)	$28.7M	$306.3M
Cash and cash equivalents at beginning of year	$703.2M	$766.6M	$737.9M	$431.6M
Cash and cash equivalents at end of year	$424.2M	$703.2M	$766.6M	$737.9M
Cash paid for interest	$9.7M	$4.2M	$3.3M	$2.1M
Income taxes paid, net of refunds	$381.8M	$386.1M	$328.2M	$429.8M
Non-cash capital expenditures	$34.7M	$22.6M	$61.8M	$69.6M
Repurchase of common shares in accrued liabilities	4.1M	15.0M	4.3M	—

Ulta Beauty Inc. cash flow statement, quarters

Line item	Aug 1, 2026 · YTD	May 2, 2026 · Q2	Nov 1, 2025 · YTD	Aug 2, 2025 · YTD
Net income	$622.5M	$340.5M	$796.8M	$565.9M
Depreciation and amortization	$162.7M	$81.4M	$219.0M	$143.2M
Non-cash lease expense	$178.3M	$91.3M	$260.6M	$183.5M
Deferred income taxes	$1.5M	$2.9M	($1.6M)	$2.2M
Stock-based compensation expense	$21.1M	$10.5M	$30.3M	$20.3M
Loss on disposal of property and equipment	$8.4M	$4.7M	$7.4M	$4.7M
Equity net loss of affiliate	$3.7M	$1.6M	$2.2M	$1.2M
Receivables	$47.1M	$48.0M	($13.1M)	($198.0K)
Merchandise inventories	($226.8M)	($206.0M)	($702.7M)	($366.1M)
Prepaid expenses and other current assets	$5.6M	$3.6M	($14.1M)	($21.7M)
Income taxes	($68.1M)	$100.0M	($68.0M)	($70.4M)
Accounts payable	($47.3M)	$21.8M	$123.9M	$98.1M
Accrued liabilities	($120.9M)	($112.4M)	$6.6M	($3.9M)
Deferred revenue	($39.8M)	($41.1M)	($41.6M)	($44.4M)
Operating lease liabilities	($178.8M)	($90.5M)	($261.9M)	($180.3M)
Other assets and liabilities	$12.4M	$5.7M	($21.6M)	($15.7M)
Net cash provided by operating activities	$381.6M	$261.9M	$322.2M	$316.5M
Proceeds from short-term investments	$15.0M	$15.0M	—	—
Capital expenditures	($139.5M)	($58.3M)	($243.3M)	($156.0M)
Other investments	($9.4M)	($4.9M)	($25.4M)	($17.1M)
Net cash used in investing activities	($134.0M)	($48.2M)	($655.5M)	($559.9M)
Borrowings from short-term debt	$1.4B	$115.6M	$1.6B	—
Payments on short-term debt	($1.1B)	($32.3M)	($1.1B)	—
Repurchase of common shares	-793.2M	-545.3M	-704.0M	-479.2M
Stock options exercised	$12.9M	$1.4M	$30.1M	$14.9M
Purchase of treasury shares	-10.9M	-10.8M	-13.5M	-13.2M
Net cash used in financing activities	($512.9M)	($471.4M)	($165.0M)	($217.1M)
Effect of exchange rate changes on cash and cash equivalents	($489.0K)	($191.0K)	—	—
Net decrease in cash and cash equivalents	($265.8M)	($257.9M)	($498.3M)	($460.5M)
Cash and cash equivalents at beginning of period	$424.2M	$424.2M	$703.2M	$703.2M
Cash and cash equivalents at end of period	$158.5M	$166.3M	$204.9M	$242.7M
Income taxes paid, net of refunds	$264.3M	$3.5M	$326.4M	$252.0M
Non-cash capital expenditures	$47.4M	$49.0M	$88.5M	$62.6M
Repurchase of common shares in accrued liabilities	2.0M	13.8M	4.0M	4.0M

Ulta Beauty Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.