Ulta Beauty (ULTA) Change in Inventory (2010 - 2026)

Ulta Beauty has reported Change in Inventory for 17 years, with the latest figure at -$566.9 million in Q1 2026.

• For the quarter ending Q1 2026, Change in Inventory fell 42.8% year-over-year to -$566.9 million; the trailing twelve-month figure through Jan 2026 stood at $135.8 million (down 39.93% YoY), and the FY2026 full-year result was $135.8 million, down 39.93% from the prior year.
• Change in Inventory for Q1 2026 stood at -$566.9 million, down from $336.6 million in the prior quarter.
• The five-year high for Change in Inventory was $505.8 million in Q4 2023, with the low at -$579.2 million in Q1 2024.
• Historically, Change in Inventory has averaged $11.0 million across 5 years, with a median of $95.6 million in 2022.
• Annual changes were most pronounced in 2022 — Change in Inventory tumbled 61.51% — and 2025, when it soared 130.67%.
• Ulta Beauty's Change in Inventory stood at $448.5 million in 2022, then grew by 12.76% to $505.8 million in 2023, then retreated by 27.46% to $366.9 million in 2024, then decreased by 8.26% to $336.6 million in 2025, then plunged by 268.42% to -$566.9 million in 2026.
• The last three Change in Inventory figures came in at -$566.9 million (Q1 2026), $336.6 million (Q4 2025), and $212.8 million (Q3 2025), per Business Quant data.