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Ulta Beauty Valuation Multiples
Discover revenue and EBITDA valuation multiples for Ulta Beauty and similar public comparables like Williams Sonoma, Church & Dwight, Asian Paints, Tractor Supply and more.
Ulta Beauty Overview
About Ulta Beauty
Ulta Beauty is the largest specialized beauty retailer in the US with about 1,500 freestanding stores. The firm offers cosmetics (39% of 2024 sales), fragrances (13%), skin care (23%), and hair care products (19%). It also has salon services, including hair, makeup, skin, and brow, that account for about 4% of its revenue and drive traffic. Outside of the US, Ulta acquired premium beauty retailer Space NK and its 83 stores in the UK and Ireland in 2025, is opening franchised stores in Mexico, and has formed a joint venture to expand into the Middle East. In addition, Ulta collects royalties through its Target partnership (set to end in 2026) and credit card revenue. Ulta was founded in 1990 and is based in Bolingbrook, Illinois.
Founded
2016
HQ
Employees
58.0K
Website
Financials (LTM)
EV
$25B
Ulta Beauty Financials
Ulta Beauty reported last 12-month revenue of $13B and EBITDA of $2B.
In the same LTM period, Ulta Beauty generated $5B in gross profit, $2B in EBITDA, and $1B in net income.
Revenue (LTM)
Ulta Beauty P&L
In the most recent fiscal year, Ulta Beauty reported revenue of $12B and EBITDA of $2B.
Ulta Beauty expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $13B | XXX | $12B | XXX | XXX | XXX |
| Gross Profit | $5B | XXX | $5B | XXX | XXX | XXX |
| Gross Margin | 39% | XXX | 39% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 15% | XXX | 15% | XXX | XXX | XXX |
| EBIT Margin | 12% | XXX | 12% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 9% | XXX | 9% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Ulta Beauty Stock Performance
Ulta Beauty has current market cap of $23B, and enterprise value of $25B.
Market Cap Evolution
Ulta Beauty's stock price is $526.76.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $25B | $23B | 1.2% | XXX | XXX | XXX | $26.37 |
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Start Free TrialUlta Beauty Valuation Multiples
Ulta Beauty trades at 2.0x EV/Revenue multiple, and 13.3x EV/EBITDA.
EV / Revenue (LTM)
Ulta Beauty Financial Valuation Multiples
As of April 14, 2026, Ulta Beauty has market cap of $23B and EV of $25B.
Equity research analysts estimate Ulta Beauty's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Ulta Beauty has a P/E ratio of 19.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $23B | XXX | $23B | XXX | XXX | XXX |
| EV (current) | $25B | XXX | $25B | XXX | XXX | XXX |
| EV/Revenue | 2.0x | XXX | 2.0x | XXX | XXX | XXX |
| EV/EBITDA | 13.3x | XXX | 13.4x | XXX | XXX | XXX |
| EV/EBIT | 15.9x | XXX | 16.0x | XXX | XXX | XXX |
| EV/Gross Profit | 5.0x | XXX | 5.1x | XXX | XXX | XXX |
| P/E | 19.7x | XXX | 20.0x | XXX | XXX | XXX |
| EV/FCF | 24.3x | XXX | 23.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Ulta Beauty Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Ulta Beauty Margins & Growth Rates
Ulta Beauty's revenue in the last 12 month grew by 6%.
Ulta Beauty's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.
Ulta Beauty's rule of 40 is 22% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Ulta Beauty's rule of X is 32% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Ulta Beauty Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6% | XXX | 7% | XXX | XXX | XXX |
| EBITDA Margin | 15% | XXX | 15% | XXX | XXX | XXX |
| EBITDA Growth | 7% | XXX | 7% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 22% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 32% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 27% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Ulta Beauty Public Comps
See public comps and valuation multiples for other Specialty Stores and Health & Beauty comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Ulta Beauty | XXX | XXX | XXX | XXX | XXX | XXX |
| Williams Sonoma | XXX | XXX | XXX | XXX | XXX | XXX |
| Church & Dwight | XXX | XXX | XXX | XXX | XXX | XXX |
| Asian Paints | XXX | XXX | XXX | XXX | XXX | XXX |
| Tractor Supply | XXX | XXX | XXX | XXX | XXX | XXX |
| Burlington Stores | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Ulta Beauty M&A Activity
Ulta Beauty acquired XXX companies to date.
Last acquisition by Ulta Beauty was on XXXXXXXX, XXXXX. Ulta Beauty acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Ulta Beauty
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialUlta Beauty Investment Activity
Ulta Beauty invested in XXX companies to date.
Ulta Beauty made its latest investment on XXXXXXXX, XXXXX. Ulta Beauty invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Ulta Beauty
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Ulta Beauty
| When was Ulta Beauty founded? | Ulta Beauty was founded in 2016. |
| Where is Ulta Beauty headquartered? | Ulta Beauty is headquartered in United States. |
| How many employees does Ulta Beauty have? | As of today, Ulta Beauty has over 58K employees. |
| Who is the CEO of Ulta Beauty? | Ulta Beauty's CEO is Kecia L. Steelman. |
| Is Ulta Beauty publicly listed? | Yes, Ulta Beauty is a public company listed on Nasdaq. |
| What is the stock symbol of Ulta Beauty? | Ulta Beauty trades under ULTA ticker. |
| When did Ulta Beauty go public? | Ulta Beauty went public in 2007. |
| Who are competitors of Ulta Beauty? | Ulta Beauty main competitors are Williams Sonoma, Church & Dwight, Asian Paints, Tractor Supply. |
| What is the current market cap of Ulta Beauty? | Ulta Beauty's current market cap is $23B. |
| What is the current revenue of Ulta Beauty? | Ulta Beauty's last 12 months revenue is $13B. |
| What is the current revenue growth of Ulta Beauty? | Ulta Beauty revenue growth (NTM/LTM) is 6%. |
| What is the current EV/Revenue multiple of Ulta Beauty? | Current revenue multiple of Ulta Beauty is 2.0x. |
| Is Ulta Beauty profitable? | Yes, Ulta Beauty is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Ulta Beauty? | Ulta Beauty's last 12 months EBITDA is $2B. |
| What is Ulta Beauty's EBITDA margin? | Ulta Beauty's last 12 months EBITDA margin is 15%. |
| What is the current EV/EBITDA multiple of Ulta Beauty? | Current EBITDA multiple of Ulta Beauty is 13.3x. |
| What is the current FCF of Ulta Beauty? | Ulta Beauty's last 12 months FCF is $1B. |
| What is Ulta Beauty's FCF margin? | Ulta Beauty's last 12 months FCF margin is 8%. |
| What is the current EV/FCF multiple of Ulta Beauty? | Current FCF multiple of Ulta Beauty is 24.3x. |
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