Ulta Beauty (ULTA) Gross Margin (2010 - 2026)

Ulta Beauty (ULTA) has reported Gross Margin for 17 consecutive years, with 38.06% the latest figure, recorded in Q1 2026.

• Gross Margin for Q1 2026 came in at 38.06%, down 18.0% year-over-year; the trailing twelve-month figure through Jan 2026 was 39.1% (up 26.0% YoY), and the FY2026 annual result was 39.1%, up 26.0% from the prior year.
• Gross Margin was 38.06% for Q1 2026 at Ulta Beauty, down from 40.44% in the prior quarter.
• Over five years, Gross Margin peaked at 41.17% in Q4 2022 and troughed at 37.58% in Q1 2023.
• Average Gross Margin over 5 years is 39.18%, with a median of 39.25% recorded in 2024.
• Year-over-year, Gross Margin jumped 257 bps in 2022 and slumped 131 bps in 2023.
• Over 5 years, Gross Margin stood at 41.17% in 2022, then dropped by 3 bps to 39.86% in 2023, then retreated by 0 bps to 39.75% in 2024, then rose by 2 bps to 40.44% in 2025, then dropped by 6 bps to 38.06% in 2026.
• Per Business Quant data, the three most recent Gross Margin figures were 38.06% in Q1 2026, 40.44% in Q4 2025, and 39.15% in Q3 2025.