Ulta Beauty (ULTA) Operating Margin (2010 - 2026)
Ulta Beauty (ULTA) posted Operating Margin of 12.51% for fiscal Q2 2027 (quarter ended Aug 1, 2026), up 0.14 percentage points from 12.37% a year earlier but down 1.66 percentage points from the prior quarter.
Ulta Beauty (ULTA) Operating Margin (2010 - 2026) Analysis & Trends
For the trailing twelve months through Aug 1, 2026, Operating Margin at Ulta Beauty was 12.46%, down 1.11 percentage points year-over-year; for FY2026 (ended Jan 31, 2026), it was 12.37%, down 1.48 percentage points from FY2025.
- Annual Operating Margin has declined for three consecutive fiscal years, though with a five-year change of +8.52 percentage points (FY2021 to FY2026).
- In prior fiscal years, Ulta Beauty's Operating Margin was 13.85% in FY2025 (-1.12 pp), 14.97% in FY2024 (-1.08 pp), 16.05% in FY2023 (+1.02 pp) and 15.03% in FY2022 (+11.18 pp).
- Quarterly Operating Margin has run from a low of 10.83% in fiscal Q3 2026 to a high of 18.66% in fiscal Q1 2023 over five years.
- On a year-over-year basis, Operating Margin increased in three of the last eight quarters, with an average year-over-year change of -0.70 percentage points.
- The strongest year-over-year quarter for Operating Margin in the past five years was fiscal Q3 2022, with a gain of 7.72 percentage points; the weakest was fiscal Q2 2025, with a drop of 2.58 percentage points.
- According to Business Quant data, Operating Margin for the three prior fiscal quarters was 14.17% (Q1 2027), 12.23% (Q4 2026) and 10.83% (Q3 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,659.84 Bn | 2,176.54 Bn | 104.83 Bn | 13.69% |
| 2 | Home Depot | 287.59 Bn | 280.83 Bn | 16.12 Bn | 14.29% |
| 3 | Tjx Companies | 147.38 Bn | 124.93 Bn | 5.07 Bn | 13.09% |
| 4 | Lowes Companies | 105.03 Bn | 97.99 Bn | 8.58 Bn | 13.67% |
| 5 | Ross Stores | 74.93 Bn | 57.86 Bn | 2.12 Bn | 17.62% |
| 6 | Target | 71.05 Bn | 65.64 Bn | 8.94 Bn | 9.65% |
| 7 | O Reilly Automotive | 70.25 Bn | 69.33 Bn | 2.52 Bn | 20.15% |
| 8 | Carvana | 69.96 Bn | 61.56 Bn | 1.38 Bn | 9.22% |
| 9 | Autozone | 46.92 Bn | 45.82 Bn | 2.52 Bn | 19.08% |
| 10 | Ulta Beauty | 23.45 Bn | 22.32 Bn | 1.19 Bn | 12.51% |
Historic Data
| Date | Value |
|---|---|
| Aug 1, 2026 | 12.51% |
| May 2, 2026 | 14.17% |
| Jan 31, 2026 | 12.23% |
| Nov 1, 2025 | 10.83% |
| Aug 2, 2025 | 12.37% |
| May 3, 2025 | 14.11% |
| Feb 1, 2025 | 14.80% |
| Nov 2, 2024 | 12.59% |
| Aug 3, 2024 | 12.90% |
| May 4, 2024 | 14.71% |
| Feb 3, 2024 | 14.55% |
| Oct 28, 2023 | 13.15% |
| Jul 29, 2023 | 15.48% |
| Apr 29, 2023 | 16.78% |
| Jan 28, 2023 | 13.87% |
| Oct 29, 2022 | 15.47% |
| Jul 30, 2022 | 17.04% |
| Apr 30, 2022 | 18.66% |
| Jan 29, 2022 | 13.76% |
| Oct 30, 2021 | 14.24% |
Ulta Beauty Operating Margin 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-margin&ticker=ULTA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=ULTA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();