Ulta Beauty (ULTA) Net Margin (2010 - 2026)
Ulta Beauty's (ULTA) quarterly Net Margin came in at 9.15% in Q1 2026, down 88.0% YoY from 76.25% in Q1 2025, and up 12.77% on a QoQ basis from 8.11% in Q4 2025.
Ulta Beauty (ULTA) Net Margin (2010 - 2026) Analysis & Trends
Ulta Beauty (ULTA) has 17 years of Net Margin data on file, last reported at 9.15% in Q1 2026.
- Quarterly Net Margin fell 88.0% year-over-year to 9.15% in Q1 2026, while the trailing twelve-month figure through Jan 2026 was 9.33% (down 92.0% YoY) and the FY2026 annual result came in at 9.33%, down 92.0% from the prior year.
- Net Margin improved to 9.15% in Q1 2026, from 8.11% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 14.13% in Q2 2022 to a low of 8.11% in Q4 2025.
- A 5-year average of 10.85% and a median of 10.6% in 2022 frame the typical range for Net Margin.
- Annual changes were most pronounced in 2022 — Net Margin surged 280 bps — and 2024, when it tumbled 197 bps.
- Tracing ULTA's Net Margin over 5 years: stood at 11.74% in 2022, then retreated by 15 bps to 10.02% in 2023, then dropped by 5 bps to 9.57% in 2024, then fell by 15 bps to 8.11% in 2025, then climbed by 13 bps to 9.15% in 2026.
- The last three Net Margin figures came in at 9.15% (Q1 2026), 8.11% (Q4 2025), and 9.38% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caseys General Stores | 30.70 Bn | 30.18 Bn | 1.08 Bn | 3.56% |
| 2 | Williams Sonoma | 28.62 Bn | 27.60 Bn | 1.10 Bn | 15.61% |
| 3 | Ulta Beauty | 22.58 Bn | 22.36 Bn | 1.27 Bn | 10.81% |
| 4 | Tractor Supply | 18.35 Bn | 18.12 Bn | 1.68 Bn | 7.94% |
| 5 | Best Buy | 18.03 Bn | 16.28 Bn | 2.10 Bn | 3.09% |
| 6 | Dick'S Sporting Goods | 15.93 Bn | 14.93 Bn | 1.68 Bn | 6.19% |
| 7 | Five Below | 13.08 Bn | 11.97 Bn | 478.64 Mn | 9.57% |
| 8 | Murphy USA | 10.51 Bn | 10.33 Bn | 746.50 Mn | 3.07% |
| 9 | Bath & Body Works | 4.08 Bn | 3.13 Bn | 1.24 Bn | 14.79% |
| 10 | MINISO Group Holding | 3.42 Bn | 2.45 Bn | 414.86 Mn | -2.26% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 2, 2026 | 10.81% |
| Jan 31, 2026 | 9.15% |
| Nov 1, 2025 | 8.11% |
| Aug 2, 2025 | 9.38% |
| May 3, 2025 | 10.73% |
| Feb 1, 2025 | 10.03% |
| Nov 2, 2024 | 9.57% |
| Aug 3, 2024 | 9.90% |
| May 4, 2024 | 11.49% |
| Feb 3, 2024 | 11.10% |
| Oct 28, 2023 | 10.02% |
| Jul 29, 2023 | 11.86% |
| Apr 29, 2023 | 13.17% |
| Jan 28, 2023 | 10.56% |
| Oct 29, 2022 | 11.74% |
| Jul 30, 2022 | 12.87% |
| Apr 30, 2022 | 14.13% |
| Jan 29, 2022 | 10.60% |
| Oct 30, 2021 | 10.79% |
| Jul 31, 2021 | 12.75% |