Ulta Beauty debt and dilution—

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

—

Reported borrowing balances are unavailable in the extracted statements for this period.

Cash & equivalents

USD millions

$158.451M

Net debt

USD millions

—

Reported borrowing balances are unavailable in the extracted statements for this period.

Debt / equity

—

Reported borrowing balances are unavailable in the extracted statements for this period.

Debt / assets

—

Reported borrowing balances are unavailable in the extracted statements for this period.

Net debt / EBITDA

× · TTM

—

Reported borrowing balances are unavailable in the extracted statements for this period.

Debt / FCF

× · TTM

—

Reported borrowing balances are unavailable in the extracted statements for this period.

Interest coverage

× · TTM

—

Current ratio

1.35×

Diluted shares

Million shares

43.06M shares

Basic shares

Million shares

42.96M shares

Share count growth

-4.45%

Share repurchases

USD millions

$247.879M

Quarterly data

Ulta Beauty capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2027 Q2	Aug 1, 2026	—	158.45	—	—	—	—	—	—	1.35×	43.06	42.96	-4.45%	247.88
FY 2027 Q1	May 2, 2026	—	166.3	—	—	—	—	—	—	1.31×	43.96	43.78	-3.49%	545.3
FY 2026 Q4	Jan 31, 2026	—	424.24	—	—	—	—	—	—	1.41×	44.51	44.32	-4.22%	197.43
FY 2026 Q3	Nov 1, 2025	—	204.92	—	—	—	—	—	—	1.33×	44.9	44.73	-4.68%	224.72
FY 2026 Q2	Aug 2, 2025	—	242.75	—	—	—	—	—	—	1.39×	45.11	44.96	-5.37%	109.46
FY 2026 Q1	May 3, 2025	—	454.63	—	—	—	—	—	—	1.67×	45.51	45.36	-5.74%	369.79
FY 2025 Q4	Feb 1, 2025	—	703.2	—	—	—	—	—	—	1.7×	46.49	46.27	-4.6%	237.94
FY 2025 Q3	Nov 2, 2024	—	177.78	—	—	—	—	—	—	1.63×	47.09	46.93	-4.24%	263.62
FY 2025 Q2	Aug 3, 2024	—	413.96	—	—	—	—	—	—	1.76×	47.67	47.51	-4.26%	212.34
FY 2025 Q1	May 4, 2024	—	524.6	—	—	—	—	—	—	1.76×	48.38	48.13	-4.04%	289.43
FY 2024 Q4	Feb 3, 2024	—	766.59	—	—	—	—	—	—	1.71×	48.9	48.5	-4.19%	155.19
FY 2024 Q3	Oct 28, 2023	—	121.81	—	—	—	—	—	—	1.52×	49.23	49.01	-4.15%	281.54
FY 2024 Q2	Jul 29, 2023	—	388.63	—	—	—	—	—	—	1.69×	49.85	49.62	-3.86%	275.49
FY 2024 Q1	Apr 29, 2023	—	636.45	—	—	—	—	—	—	1.64×	50.47	50.15	-4.01%	283.52
FY 2023 Q4	Jan 28, 2023	—	737.88	—	—	—	—	—	—	1.61×	51.07	50.62	-4.78%	328.13
FY 2023 Q3	Oct 29, 2022	—	250.63	—	—	—	—	—	—	1.62×	51.42	51.13	-5.82%	137.46
FY 2023 Q2	Jul 30, 2022	—	434.23	—	—	—	—	—	—	1.63×	51.9	51.61	-5.61%	301.61
FY 2023 Q1	Apr 30, 2022	—	654.49	—	—	—	—	—	—	1.58×	52.58	52.25	-6.35%	132.83
FY 2022 Q4	Jan 29, 2022	—	431.56	—	—	—	—	—	—	1.46×	53.52	53.17	-5.63%	759.76
FY 2022 Q3	Oct 30, 2021	—	605.05	—	—	—	—	—	—	1.74×	54.66	54.29	-3.61%	126.37
FY 2022 Q2	Jul 31, 2021	—	770.14	—	—	—	—	—	—	1.81×	55.01	54.68	-2.92%	243.48
FY 2022 Q1	May 1, 2021	—	947.46	—	—	—	—	—	—	1.68×	56.17	55.8	-1.11%	392.31
FY 2021 Q4	Jan 30, 2021	—	1,046.05	—	—	—	—	—	—	1.87×	56.66	56.34	-1.14%	41.91
FY 2021 Q3	Oct 31, 2020	—	560.9	—	—	—	—	—	—	1.82×	56.55	56.33	-2.16%	0
FY 2021 Q2	Aug 1, 2020	—	1,157.32	—	—	—	—	—	—	2.64×	56.5	56.32	-3.19%	0
FY 2021 Q1	May 2, 2020	—	1,043.54	—	—	—	—	—	—	2.49×	56.42	56.42	-3.77%	72.98
FY 2020 Q4	Feb 1, 2020	—	392.33	—	—	—	—	—	—	1.81×	57.23	56.99	-3.49%	174.11
FY 2020 Q3	Nov 2, 2019	—	208.84	—	—	—	—	—	—	1.67×	57.76	57.57	-3.61%	128.57
FY 2020 Q2	Aug 3, 2019	—	177.4	—	—	—	—	—	—	1.8×	58.45	58.17	-3.16%	270.9
FY 2020 Q1	May 4, 2019	—	326.83	—	—	—	—	—	—	1.93×	58.99	58.63	-3.27%	107.4
FY 2019 Q4	Feb 2, 2019	—	409.25	—	—	—	—	—	—	2.32×	59.43	59.05	-3.1%	236.77
FY 2019 Q3	Nov 3, 2018	—	296.94	—	—	—	—	—	—	2.06×	60.06	59.72	-2.57%	118.97
FY 2019 Q2	Aug 4, 2018	—	237.11	—	—	—	—	—	—	2.41×	60.38	60.07	-3.01%	127.4
FY 2019 Q1	May 5, 2018	—	231.89	—	—	—	—	—	—	2.42×	60.91	60.61	-2.4%	133.05
FY 2018 Q4	Feb 3, 2018	—	277.45	—	—	—	—	—	—	2.64×	61.35	60.94	-2.03%	57.81
FY 2018 Q3	Oct 28, 2017	—	46.79	—	—	—	—	—	—	2.3×	61.63	61.3	-1.72%	131.68
FY 2018 Q2	Jul 29, 2017	—	92.86	—	—	—	—	—	—	2.79×	62.38	61.94	-0.86%	126.49
FY 2018 Q1	Apr 29, 2017	—	321.73	—	—	—	—	—	—	2.86×	62.59	62.1	-1.48%	51.6
FY 2017 Q4	Jan 28, 2017	—	385.01	—	—	—	—	—	—	2.9×	62.61	62.2	-2.27%	47.28
FY 2017 Q3	Oct 29, 2016	—	133.11	—	—	—	—	—	—	2.35×	62.69	62.37	-2.37%	44.54
FY 2017 Q2	Jul 30, 2016	—	194.08	—	—	—	—	—	—	2.8×	62.81	62.48	-2.52%	25.78
FY 2017 Q1	Apr 30, 2016	—	239.25	—	—	—	—	—	—	2.7×	63.34	63.03	-1.79%	226.67
FY 2016 Q4	Jan 30, 2016	—	345.84	—	—	—	—	—	—	3.47×	63.95	63.65	-1.02%	46.12
FY 2016 Q3	Oct 31, 2015	—	209.55	—	—	—	—	—	—	3.03×	64.2	63.88	-0.83%	47.52
FY 2016 Q2	Aug 1, 2015	—	325.21	—	—	—	—	—	—	3.55×	64.41	64.09	-0.41%	45.8
FY 2016 Q1	May 2, 2015	—	386.01	—	—	—	—	—	—	3.45×	64.56	64.18	-0.14%	27.96
FY 2015 Q4	Jan 31, 2015	—	389.15	—	—	—	—	—	—	3.5×	64.64	64.3	0.1%	29.95
FY 2015 Q3	Nov 1, 2014	—	295.06	—	—	—	—	—	—	3.33×	64.74	64.42	0.56%	—
FY 2015 Q2	Aug 2, 2014	—	363.06	—	—	—	—	—	—	3.76×	64.64	64.35	0.81%	—
FY 2015 Q1	May 3, 2014	—	456.71	—	—	—	—	—	—	3.61×	64.61	64.27	0.68%	—
FY 2014 Q4	Feb 1, 2014	—	419.48	—	—	—	—	—	—	3.76×	64.57	64.23	0.52%	0
FY 2014 Q3	Nov 2, 2013	—	240.92	—	—	—	—	—	—	3.27×	64.54	64.06	0.91%	0
FY 2014 Q2	Aug 3, 2013	—	286.21	—	—	—	—	—	—	3.64×	64.33	63.83	1.21%	0
FY 2014 Q1	May 4, 2013	—	293.21	—	—	—	—	—	—	3.34×	64.5	63.84	2.15%	37.34
FY 2013 Q4	Feb 2, 2013	—	320.48	—	—	—	—	—	1,513.39×	3.57×	64.71	63.9	3.23%	0
FY 2013 Q3	Oct 27, 2012	—	191.72	—	—	—	—	—	978.27×	2.78×	64.48	63.48	3.31%	0.03
FY 2013 Q2	Jul 28, 2012	—	197.4	—	—	—	—	—	592.81×	3.65×	64.29	63.07	3.18%	—
FY 2013 Q1	Apr 28, 2012	—	266.35	—	—	—	—	—	493.29×	2.61×	64.07	62.5	3.21%	—
FY 2012 Q4	Jan 28, 2012	—	253.74	—	—	—	—	—	334.23×	3.52×	63.82	61.9	—	—
FY 2012 Q3	Oct 29, 2011	—	130.66	—	—	—	—	—	—	2.59×	63.42	61.45	—	—
FY 2012 Q2	Jul 30, 2011	—	142.55	—	—	—	—	—	—	2.98×	63.24	61.13	—	—
FY 2012 Q1	Apr 30, 2011	—	116.81	—	—	—	—	—	—	2.93×	62.76	60.55	—	—

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · ULTA, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.