Ulta Beauty (ULTA) Operating Expenses (2010 - 2026)
Ulta Beauty (ULTA) recorded Operating Expenses of $802.78 million in fiscal Q2 2027 (quarter ended Aug 1, 2026), up 8.2% from $741.74 million a year earlier but down 1.5% from the prior quarter.
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Analysis
Ulta Beauty (ULTA) Operating Expenses (2010 - 2026) Analysis & Trends
On a TTM basis, Ulta Beauty's Operating Expenses came in at $3.46 billion as of Aug 1, 2026, up 17.3% year-over-year; for FY2026 (ended Jan 31, 2026), it came in at $3.3 billion, up 17.4% from FY2025.
- Annual Operating Expenses has increased for five straight fiscal years, with a five-year compound annual growth rate of 14.2% (FY2021 to FY2026).
- Across earlier fiscal years, Operating Expenses came in at $2.81 billion in FY2025 (+4.2%), $2.69 billion in FY2024 (+12.5%), $2.4 billion in FY2023 (+16.2%) and $2.06 billion in FY2022 (+21.5%).
- Quarterly Operating Expenses has ranged from $500.97 million in fiscal Q1 2023 to $1 billion in fiscal Q4 2026 over the past five years.
- On a year-over-year basis, Operating Expenses has increased for six consecutive quarters, with growth averaging 11.7% over the last eight quarters.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 23.3% in fiscal Q3 2026, against a decline of 0.6% in fiscal Q4 2025 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at $814.7 million (Q1 2027), $1 billion (Q4 2026) and $840.92 million (Q3 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,828.15 Bn | 2,344.85 Bn | 104.83 Bn | 173.15 Bn |
| 2 | Home Depot | 312.02 Bn | 305.26 Bn | 16.12 Bn | 9.28 Bn |
| 3 | Tjx Companies | 160.78 Bn | 138.32 Bn | 5.07 Bn | 3.09 Bn |
| 4 | Lowes Companies | 109.83 Bn | 102.79 Bn | 8.58 Bn | 4.46 Bn |
| 5 | Ross Stores | 74.49 Bn | 57.42 Bn | 2.12 Bn | 1.02 Bn |
| 6 | O Reilly Automotive | 73.51 Bn | 72.60 Bn | 2.52 Bn | 1.53 Bn |
| 7 | Target | 69.38 Bn | 63.97 Bn | 8.94 Bn | 5.73 Bn |
| 8 | Autozone | 52.02 Bn | 50.92 Bn | 2.52 Bn | 1.60 Bn |
| 9 | Carvana | 42.62 Bn | 33.11 Bn | 1.38 Bn | 704.00 Mn |
| 10 | Ulta Beauty | 26.10 Bn | 24.96 Bn | 1.19 Bn | 802.78 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Aug 1, 2026 | 802.78 Mn |
| May 2, 2026 | 814.70 Mn |
| Jan 31, 2026 | 1.00 Bn |
| Nov 1, 2025 | 840.92 Mn |
| Aug 2, 2025 | 741.74 Mn |
| May 3, 2025 | 710.61 Mn |
| Feb 1, 2025 | 815.60 Mn |
| Nov 2, 2024 | 682.26 Mn |
| Aug 3, 2024 | 644.82 Mn |
| May 4, 2024 | 665.91 Mn |
| Feb 3, 2024 | 820.36 Mn |
| Oct 28, 2023 | 661.38 Mn |
| Jul 29, 2023 | 600.69 Mn |
| Apr 29, 2023 | 612.13 Mn |
| Jan 28, 2023 | 762.71 Mn |
| Oct 29, 2022 | 597.16 Mn |
| Jul 30, 2022 | 534.46 Mn |
| Apr 30, 2022 | 500.97 Mn |
| Jan 29, 2022 | 649.97 Mn |
| Oct 30, 2021 | 503.40 Mn |
API Access
Ulta Beauty Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=ULTA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "ULTA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=ULTA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();