Ulta Beauty, Inc. (ULTA) closed fiscal year 2026 with a gross margin of 39.1 % and a net margin of 9.3 %.
Ulta Beauty, Inc. (ULTA) closed fiscal year 2026 with a gross margin of 39.1 % and a net margin of 9.3 %. The same year shows an EBITDA margin of 14.8 % and an EBIT margin of 12.4 %. The free cash flow margin was 8.6 %. Against the previous year the gross margin moved +0.3 pp and the net margin −1.3 pp. Across the period the gross margin ranges between 30.8 % in 2010 and 39.6 % in 2023. The series covers 17 fiscal years, from 2010 to 2026. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: January
| 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 30.80 % | 33.27 % | 34.73 % | 35.30 % | 35.25 % | 35.07 % | 35.28 % | 35.99 % | 35.63 % | 35.87 % | 36.24 % | 31.68 % | 39.03 % | 39.62 % | 39.09 % | 38.84 % | 39.10 % |
| EBITDA margin (%) | 10.66 % | 12.64 % | 15.32 % | 16.58 % | 16.25 % | 16.73 % | 17.11 % | 17.82 % | 17.64 % | 16.88 % | 16.18 % | 8.69 % | 18.14 % | 18.42 % | 17.15 % | 16.22 % | 14.80 % |
| EBIT margin (%) | 5.57 % | 8.17 % | 11.05 % | 12.61 % | 12.27 % | 12.66 % | 12.90 % | 13.49 % | 13.35 % | 12.72 % | 12.18 % | 3.85 % | 15.03 % | 16.05 % | 14.97 % | 13.85 % | 12.37 % |
| Net margin (%) | 3.22 % | 4.88 % | 6.77 % | 7.77 % | 7.60 % | 7.93 % | 8.15 % | 8.44 % | 9.44 % | 9.80 % | 9.54 % | 2.86 % | 11.42 % | 12.17 % | 11.52 % | 10.63 % | 9.31 % |
| FCF margin (%) | 8.56 % | 5.46 % | 5.19 % | 2.27 % | 3.81 % | 4.55 % | 1.95 % | 5.37 % | 5.75 % | 9.48 % | 10.85 % | 10.70 % | 10.28 % | 11.46 % | 9.29 % | 8.54 % | 8.62 % |
