Ulta Beauty, Inc.

ULTANASDAQConsumer Cyclical● Active

$467.07

+$4.55(+0.98%)

Market Cap$20.1B

P/E Ratio—

52W High$714.97

52W Low$452

Avg Volume822K

Open$466.99

Beta0.86

Free Cash Flow Financials Revenue

Ulta Beauty, Inc. (ULTA) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ULTA · free cash flow · updated Jun 8, 2026

Core FCF metrics

ULTA · FCF · TTM · margin & CAGR

Free cash flow was $1.07B for FY2026 (fiscal year ending 2026-01-31), up 10.8% year-over-year The FCF margin was 8.6%. Five-year CAGR stands at +10.2%.

FY2026 Free Cash Flow$1.07B▲ +10.8% YoY

Trailing 12M (TTM)$1.05Btrailing 4 quarters sum

FCF Margin8.6%$1.07B ÷ revenue

3-Year CAGR-3.0%FY2023 → FY2026

5-Year CAGR+10.2%FY2021 → FY2026

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ULTA · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2026Latest$1.50B(435M)$1.07B▲ +10.8%8.6%

FY2025$1.34B(374M)$964.1M▼ 7.4%8.5%

FY2024$1.48B(435M)$1.04B▼ 11.0%9.3%

FY2023$1.48B(312M)$1.17B▲ +31.9%11.5%

FY2022$1.06B(172M)$887.1M▲ +34.7%10.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ULTA · P/FCF · FCF yield · FCF per share

Ulta Beauty, Inc. (ULTA) trades at a FCF yield of 5.22% and a price-to-free-cash-flow ratio of 20.0x. FCF per share stands at $23.38, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

5.22%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$23.38

TTM FCF ÷ Shares Outstanding

Price / FCF

x20.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x21.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2026 · 2026-01-31

Cash flow statement summary

ULTA · cash flow statement · operating / investing / financing

For FY2026, Ulta Beauty, Inc. generated $1.50B in operating cash flow and spent 435M in capital expenditures, yielding $1.07B in free cash flow.

Operating Activities

+$1.50B

Cash from core business operations

2026-01-31

Investing Activities

−$931.3M

CapEx, acquisitions & investments

2026-01-31

Financing Activities

−$850.7M

Buybacks, dividends & debt

2026-01-31

FCF FormulaOperating CF ($1.50B) − |CapEx| (435M) = FCF ($1.07B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Cyclical)

ULTA vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Ulta Beauty, Inc.YOU

ULTA

$1.07B+10.8%8.6%

Toyota Motor Corporation

Alibaba Group Holding Limited

BABA

−$50.72B-164.9%-5.0%

Loss

Consumer Cyclical · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Ulta Beauty, Inc. (ULTA) reported free cash flow of $1.07B for FY2026 (fiscal year ending 2026-01-31), up 10.8% year-over-year. The FCF margin was 8.6%.

Based on available data, Ulta Beauty, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $1.17B in FY2023. The 5-year CAGR stands at +10.2%.

Ulta Beauty, Inc.'s FCF yield is 5.22% and price-to-FCF ratio is 20.0x for FY2026, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ULTA free cash flow · 8 questions

Ulta Beauty, Inc. free cash flow was $1.07B for FY2026, up 10.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.05B.

ULTA free cash flowULTA FCFULTA FCF 2026ULTA free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Ulta Beauty, Inc. · Ulta Beauty, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026