Ulta Beauty (ULTA) Operating Expenses (2010 - 2026)
Ulta Beauty's (ULTA) quarterly Operating Expenses came in at $1.0 billion in Q1 2026, up 23.17% YoY from $817.3 million in Q1 2025, and up 18.96% on a QoQ basis from $846.2 million in Q4 2025.
Ulta Beauty (ULTA) Operating Expenses (2010 - 2026) Analysis & Trends
Ulta Beauty (ULTA) has 17 years of Operating Expenses data on file, last reported at $1.0 billion in Q1 2026.
- Quarterly Operating Expenses rose 23.17% year-over-year to $1.0 billion in Q1 2026, while the trailing twelve-month figure through Jan 2026 was $3.3 billion (up 17.36% YoY) and the FY2026 annual result came in at $3.3 billion, up 17.36% from the prior year.
- Operating Expenses improved to $1.0 billion in Q1 2026, from $846.2 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $1.0 billion in Q1 2026 to a low of $503.3 million in Q2 2022.
- A 5-year average of $699.7 million and a median of $668.8 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses gained 26.21% — and 2025, when it dropped 0.75%.
- Tracing ULTA's Operating Expenses over 5 years: stood at $601.0 million in 2022, then increased by 10.63% to $664.8 million in 2023, then rose by 3.35% to $687.1 million in 2024, then gained by 23.15% to $846.2 million in 2025, then increased by 18.96% to $1.0 billion in 2026.
- The last three Operating Expenses figures came in at $1.0 billion (Q1 2026), $846.2 million (Q4 2025), and $746.8 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Caseys General Stores | 30.71 Bn | 30.19 Bn | 1.08 Bn | 730.02 Mn |
| 2 | Williams Sonoma | 28.71 Bn | 27.69 Bn | 1.10 Bn | 627.08 Mn |
| 3 | Ulta Beauty | 23.01 Bn | 22.79 Bn | 1.27 Bn | 819.36 Mn |
| 4 | Best Buy | 18.44 Bn | 16.69 Bn | 2.10 Bn | 1.73 Bn |
| 5 | Tractor Supply | 18.34 Bn | 18.11 Bn | 1.68 Bn | 1.02 Bn |
| 6 | Dick'S Sporting Goods | 16.09 Bn | 15.09 Bn | 1.68 Bn | 1.22 Bn |
| 7 | Five Below | 13.55 Bn | 12.43 Bn | 478.64 Mn | 273.28 Mn |
| 8 | Murphy USA | 10.41 Bn | 10.23 Bn | 746.50 Mn | 6.50 Bn |
| 9 | Bath & Body Works | 4.06 Bn | 3.11 Bn | 1.24 Bn | 645.00 Mn |
| 10 | MINISO Group Holding | 3.38 Bn | 2.41 Bn | 414.86 Mn | -290.69 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| May 2, 2026 | 819.36 Mn |
| Jan 31, 2026 | 1.01 Bn |
| Nov 1, 2025 | 846.25 Mn |
| Aug 2, 2025 | 746.84 Mn |
| May 3, 2025 | 712.44 Mn |
| Feb 1, 2025 | 817.33 Mn |
| Nov 2, 2024 | 687.14 Mn |
| Aug 3, 2024 | 648.98 Mn |
| May 4, 2024 | 668.83 Mn |
| Feb 3, 2024 | 823.47 Mn |
| Oct 28, 2023 | 664.84 Mn |
| Jul 29, 2023 | 601.97 Mn |
| Apr 29, 2023 | 612.79 Mn |
| Jan 28, 2023 | 764.89 Mn |
| Oct 29, 2022 | 600.96 Mn |
| Jul 30, 2022 | 536.74 Mn |
| Apr 30, 2022 | 503.32 Mn |
| Jan 29, 2022 | 651.71 Mn |
| Oct 30, 2021 | 505.24 Mn |
| Jul 31, 2021 | 465.66 Mn |