Ulta Beauty (ULTA) Operating Margin (2010 - 2026)
Ulta Beauty's (ULTA) quarterly Operating Margin came in at 12.51% in Q3 2026, up 14.0% on a YoY basis from 10.97% in Q3 2025, and down 11.73% quarter-over-quarter from 14.17% in Q2 2026.
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Ulta Beauty (ULTA) Operating Margin (2010 - 2026) Analysis & Trends
Ulta Beauty (ULTA) has reported Operating Margin for 17 consecutive years, with 12.51% the latest figure, recorded in Q3 2026.
- For the quarter ending Q3 2026, Operating Margin rose 14.0% year-over-year to 12.51%; the trailing twelve-month figure through Aug 2026 stood at 12.46% (down 111.0% YoY), and the FY2026 full-year result was 12.37%, down 148.0% from the prior year.
- Operating Margin declined to 12.51% in Q3 2026 per ULTA's latest filing, from 14.17% in the prior quarter.
- Across five years, Operating Margin topped out at 18.66% in Q2 2022 and bottomed at 10.83% in Q4 2025.
- Historically, Operating Margin has averaged 14.21% across 5 years, with a median of 14.11% in 2025.
- The sharpest annual moves came in 2022 and 2024: Operating Margin soared 356 bps in 2022, then slumped 258 bps in 2024.
- Over 5 years, Operating Margin stood at 15.47% in 2022, then declined by 15 bps to 13.15% in 2023, then dropped by 4 bps to 12.59% in 2024, then decreased by 14 bps to 10.83% in 2025, then gained by 15 bps to 12.51% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 12.51%, 14.17%, and 12.23% for Q3 2026, Q2 2026, and Q1 2026 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ulta Beauty | 23.08 Bn | 22.87 Bn | 1.19 Bn | 12.51% |
| 2 | Best Buy | 18.66 Bn | 16.40 Bn | 2.34 Bn | 4.31% |
| 3 | Dick'S Sporting Goods | 11.79 Bn | 10.88 Bn | 1.94 Bn | 7.89% |
| 4 | Signet Jewelers | 3.94 Bn | 3.34 Bn | 556.50 Mn | 2.38% |
| 5 | Academy Sports & Outdoors | 3.49 Bn | 3.15 Bn | 479.35 Mn | 5.18% |
| 6 | National Vision Holdings | 1.36 Bn | 1.33 Bn | 290.43 Mn | 4.27% |
| 7 | Gold.com | 1.23 Bn | 650.62 Mn | 176.58 Mn | 0.95% |
| 8 | Winmark | 1.11 Bn | 1.08 Bn | 21.15 Mn | 62.10% |
| 9 | GameStop | 1.02 Bn | -7.35 Bn | 340.30 Mn | 17.16% |
| 10 | Barnes & Noble Education | 376.57 Mn | 368.76 Mn | 57.05 Mn | -5.94% |
Historic Data
Download Data
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% |