Ulta Beauty
Ulta Beauty returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
Reported borrowing balances are unavailable in the extracted statements for this period.
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
Reported borrowing balances are unavailable in the extracted statements for this period.
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Reported borrowing balances are unavailable in the extracted statements for this period.
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2027 Q2 | Aug 1, 2026 | — | 35.43% | — | 46.12% | 17.8% | — |
| FY 2027 Q1 | May 2, 2026 | — | 35.84% | — | 47.45% | 18.46% | — |
| FY 2026 Q4 | Jan 31, 2026 | — | 34.08% | — | 43.59% | 17.74% | — |
| FY 2026 Q3 | Nov 1, 2025 | — | 36.5% | — | 47.97% | 18.35% | — |
| FY 2026 Q2 | Aug 2, 2025 | — | 36.88% | — | 48.52% | 19.43% | — |
| FY 2026 Q1 | May 3, 2025 | — | 37.81% | — | 50.44% | 20.54% | — |
| FY 2025 Q4 | Feb 1, 2025 | — | 37.84% | — | 50.39% | 20.52% | — |
| FY 2025 Q3 | Nov 2, 2024 | — | 39.64% | — | 55.18% | 20.81% | — |
| FY 2025 Q2 | Aug 3, 2024 | — | 39.84% | — | 54.98% | 22.02% | — |
| FY 2025 Q1 | May 4, 2024 | — | 41.97% | — | 58.21% | 22.84% | — |
| FY 2024 Q4 | Feb 3, 2024 | — | 43.37% | — | 60.91% | 23.31% | — |
| FY 2024 Q3 | Oct 28, 2023 | — | 43.52% | — | 62.64% | 22.65% | — |
| FY 2024 Q2 | Jul 29, 2023 | — | 45.63% | — | 66.08% | 24.77% | — |
| FY 2024 Q1 | Apr 29, 2023 | — | 45.93% | — | 66.85% | 24.22% | — |
| FY 2023 Q4 | Jan 28, 2023 | — | 47.53% | — | 71.09% | 24.52% | — |
| FY 2023 Q3 | Oct 29, 2022 | — | 42.94% | — | 60.94% | 22.43% | — |
| FY 2023 Q2 | Jul 30, 2022 | — | 42.44% | — | 62.03% | 22.86% | — |
| FY 2023 Q1 | Apr 30, 2022 | — | 40.99% | — | 60.55% | 21.52% | — |
| FY 2022 Q4 | Jan 29, 2022 | — | 37.32% | — | 55.78% | 20.01% | — |
| FY 2022 Q3 | Oct 30, 2021 | — | 31.38% | — | 45.19% | 17.09% | — |
| FY 2022 Q2 | Jul 31, 2021 | — | 24.05% | — | 39.85% | 13.92% | — |
| FY 2022 Q1 | May 1, 2021 | — | 16.09% | — | 26.93% | 9.13% | — |
| FY 2021 Q4 | Jan 30, 2021 | — | 6.34% | — | 9.01% | 3.53% | — |
| FY 2021 Q3 | Oct 31, 2020 | — | 8.21% | — | 12.27% | 4.63% | — |
| FY 2021 Q2 | Aug 1, 2020 | — | 9.08% | — | 15.62% | 5.53% | — |
| FY 2021 Q1 | May 2, 2020 | — | 13.78% | — | 23.55% | 8.45% | — |
| FY 2020 Q4 | Feb 1, 2020 | — | 29.57% | — | 37.93% | 17.53% | — |
| FY 2020 Q3 | Nov 2, 2019 | — | 29.72% | — | 37.9% | 16.9% | — |
| FY 2020 Q2 | Aug 3, 2019 | — | 30.07% | — | 38.3% | 17.97% | — |
| FY 2020 Q1 | May 4, 2019 | — | 29.4% | — | 36.85% | 17.63% | — |
| FY 2019 Q4 | Feb 2, 2019 | — | 36.86% | — | 36.64% | 21.59% | — |
| FY 2019 Q3 | Nov 3, 2018 | — | 37.03% | — | 37.78% | 21.14% | — |
| FY 2019 Q2 | Aug 4, 2018 | — | 36.92% | — | 36.29% | 21.66% | — |
| FY 2019 Q1 | May 5, 2018 | — | 36.67% | — | 34.53% | 20.64% | — |
| FY 2018 Q4 | Feb 3, 2018 | — | 36.62% | — | 33.4% | 20.34% | — |
| FY 2018 Q3 | Oct 28, 2017 | — | 37.6% | — | 31.76% | 18.09% | — |
| FY 2018 Q2 | Jul 29, 2017 | — | 37.11% | — | 31.06% | 18.78% | — |
| FY 2018 Q1 | Apr 29, 2017 | — | 36.19% | — | 30.12% | 18.11% | — |
| FY 2017 Q4 | Jan 28, 2017 | — | 33.95% | — | 27.38% | 17.13% | — |
| FY 2017 Q3 | Oct 29, 2016 | — | 32.63% | — | 26.7% | 15.75% | — |
| FY 2017 Q2 | Jul 30, 2016 | — | 32.1% | — | 26.38% | 16.32% | — |
| FY 2017 Q1 | Apr 30, 2016 | — | 31.95% | — | 26.31% | 16.06% | — |
| FY 2016 Q4 | Jan 30, 2016 | — | 29.28% | — | 23.79% | 15.19% | — |
| FY 2016 Q3 | Oct 31, 2015 | — | 28.44% | — | 23.39% | 14.39% | — |
| FY 2016 Q2 | Aug 1, 2015 | — | 28.37% | — | 23.28% | 14.76% | — |
| FY 2016 Q1 | May 2, 2015 | — | 28.28% | — | 23.2% | 14.51% | — |
| FY 2015 Q4 | Jan 31, 2015 | — | 27.74% | — | 22.85% | 14.34% | — |
| FY 2015 Q3 | Nov 1, 2014 | — | 27.64% | — | 22.75% | 13.91% | — |
| FY 2015 Q2 | Aug 2, 2014 | — | 27.73% | — | 22.84% | 14.3% | — |
| FY 2015 Q1 | May 3, 2014 | — | 27.48% | — | 22.64% | 13.92% | — |
| FY 2014 Q4 | Feb 1, 2014 | — | 27.41% | — | 22.66% | 14.1% | — |
| FY 2014 Q3 | Nov 2, 2013 | — | 28.77% | — | 24.06% | 14.21% | — |
| FY 2014 Q2 | Aug 3, 2013 | — | 30.13% | — | 25.25% | 15.59% | — |
| FY 2014 Q1 | May 4, 2013 | — | 30.81% | — | 25.85% | 15.02% | — |
| FY 2013 Q4 | Feb 2, 2013 | — | 30.32% | — | 25.16% | 15.46% | — |
| FY 2013 Q3 | Oct 27, 2012 | — | 29.83% | — | 25.06% | 14.27% | — |
| FY 2013 Q2 | Jul 28, 2012 | — | 30.38% | — | 25.58% | 15.41% | — |
| FY 2013 Q1 | Apr 28, 2012 | — | 30.26% | — | 25.49% | 14.46% | — |
| FY 2012 Q4 | Jan 28, 2012 | — | — | — | — | — | — |
| FY 2012 Q3 | Oct 29, 2011 | — | — | — | — | — | — |
| FY 2012 Q2 | Jul 30, 2011 | — | — | — | — | — | — |
| FY 2012 Q1 | Apr 30, 2011 | — | — | — | — | — | — |
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.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · ULTA, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.