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

Ulta Beauty (ULTA) has reported Operating Margin for 17 consecutive years, with 12.23% the latest figure, recorded in Q1 2026.

• Operating Margin for Q1 2026 came in at 12.23%, down 257.0% year-over-year; the trailing twelve-month figure through Jan 2026 was 12.37% (down 148.0% YoY), and the FY2026 annual result was 12.37%, down 148.0% from the prior year.
• Operating Margin was 12.23% for Q1 2026 at Ulta Beauty, up from 10.83% in the prior quarter.
• Over five years, Operating Margin peaked at 18.66% in Q2 2022 and troughed at 10.83% in Q4 2025.
• Average Operating Margin over 5 years is 14.31%, with a median of 14.11% recorded in 2025.
• Year-over-year, Operating Margin jumped 356 bps in 2022 and tumbled 258 bps in 2024.
• Over 5 years, Operating Margin stood at 15.47% in 2022, then fell by 15 bps to 13.15% in 2023, then declined by 4 bps to 12.59% in 2024, then slipped by 14 bps to 10.83% in 2025, then increased by 13 bps to 12.23% in 2026.
• Per Business Quant data, the three most recent Operating Margin figures were 12.23% in Q1 2026, 10.83% in Q4 2025, and 12.37% in Q3 2025.