Ulta Beauty, Inc. (ULTA) balance sheet

NASDAQ · Consumer Cyclical · Specialty Retail · 65,000 employees · CEO Kecia L. Steelman

Price: $644.76 -0.78%
Market cap: $27.6B
Enterprise value: $29.9B
Last report: Q2 '26 filed 2026-08-27
Next report: 2026-12-03 EPS est. $5.63

At the end of Q2 '26 Ulta Beauty, Inc. (ULTA) held $213M in cash and short-term investments against $2.52B of debt incl. leases. Total assets $6.96B, total liabilities $4.32B, shareholders' equity $2.64B.

Balance sheet

Balance sheet	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Assets
Cash & equivalents	$122M	$767M	$525M	$414M	$178M	$703M	$455M	$243M	$205M	$424M	$166M	$158M
Short-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$70M	$55M	$55M
Receivables	$203M	$208M	$203M	$201M	$214M	$223M	$225M	$224M	$237M	$296M	$248M	$249M
Inventory	$2.32B	$1.74B	$1.91B	$2B	$2.37B	$1.97B	$2.12B	$2.41B	$2.74B	$2.18B	$2.39B	$2.41B
Other current assets	$117M	$50.2M	$127M	$132M	$136M	$63.7M	$0	$166M	$158M	$100M	$166M	$199M
Current assets	$2.79B	$2.84B	$2.76B	$2.8B	$2.95B	$3.03B	$2.94B	$3.07B	$3.37B	$3.14B	$3.02B	$3.07B
Property, plant & equipment (net)	$2.7B	$2.76B	$2.76B	$2.83B	$2.88B	$2.85B	$2.91B	$3.01B	$3.08B	$3.25B	$3.27B	$3.29B
Goodwill	$10.9M	$10.9M	$10.9M	$10.9M	$10.9M	$10.9M	$10.9M	$393M	$393M	$226M	$225M	$223M
Intangible assets	$591K	$510K	$434K	$357K	$281K	$204K	$0	$5.47M	$6.09M	$203M	$202M	$200M
Other non-current assets	$95.3M	$102M	$103M	$102M	$109M	$113M	$126M	$149M	$166M	$178M	$177M	$180M
Non-current assets	$2.8B	$2.87B	$2.87B	$2.94B	$3B	$2.97B	$3.05B	$3.56B	$3.64B	$3.86B	$3.87B	$3.9B
Total assets	$5.6B	$5.71B	$5.63B	$5.74B	$5.96B	$6B	$5.99B	$6.63B	$7.01B	$7B	$6.9B	$6.96B
Liabilities
Accounts payable	$597M	$544M	$464M	$567M	$593M	$564M	$538M	$709M	$759M	$686M	$714M	$646M
Accrued expenses	$0	$151M	$0	$0	$0	$149M	$0	$0	$0	$0	$462M	$0
Short-term debt	$483M	$284M	$285M	$281M	$485M	$288M	$286M	$572M	$842M	$369M	$145M	$652M
Taxes payable	$0	$68.1M	$92.7M	$53.6M	$62.8M	$4.95M	$131M	$0	$26.5M	$3.2M	$133M	$35.6M
Deferred revenue	$351M	$437M	$399M	$395M	$405M	$501M	$463M	$460M	$463M	$582M	$541M	$542M
Other current liabilities	$405M	$232M	$333M	$348M	$333M	$232M	$347M	$460M	$474M	$587M	$133M	$440M
Current liabilities	$1.84B	$1.66B	$1.57B	$1.59B	$1.82B	$1.78B	$1.76B	$2.2B	$2.54B	$2.22B	$2.3B	$2.28B
Lease obligations (non-current)	$1.62B	$1.63B	$1.61B	$1.65B	$1.66B	$1.64B	$1.69B	$1.72B	$1.73B	$1.81B	$1.85B	$1.87B
Deferred tax liabilities	$56.9M	$85.9M	$89.6M	$88.5M	$91.7M	$42.6M	$46M	$49.2M	$45.3M	$98.8M	$101M	$99.4M
Other non-current liabilities	$55.9M	$56.3M	$61M	$61.9M	$65M	$56.1M	$57.1M	$60.7M	$63.4M	$59.6M	$61M	$67.7M
Non-current liabilities	$1.73B	$1.77B	$1.76B	$1.8B	$1.81B	$1.73B	$1.79B	$1.83B	$1.84B	$1.97B	$2.01B	$2.04B
Total liabilities	$3.57B	$3.43B	$3.33B	$3.39B	$3.63B	$3.51B	$3.56B	$4.03B	$4.38B	$4.2B	$4.31B	$4.32B
Equity
Common stock & paid-in capital	$495K	$491K	$487K	$481K	$474K	$468K	$459K	$458K	$454K	$450K	$442K	$437K
Retained earnings	$1.05B	$1.29B	$1.31B	$1.35B	$1.33B	$1.47B	$1.42B	$1.57B	$1.58B	$1.74B	$1.52B	$1.57B
Accumulated other comprehensive income	$0	$0	$0	$0	$0	$0	$0	$0	$0	$3.76M	$88K	-$2.88M
Shareholders' equity	$2.03B	$2.28B	$2.3B	$2.35B	$2.33B	$2.49B	$2.43B	$2.6B	$2.63B	$2.8B	$2.58B	$2.64B
Debt
Total debt (incl. leases)	$2.1B	$1.91B	$1.89B	$1.93B	$2.14B	$1.92B	$1.98B	$2.29B	$2.57B	$2.18B	$2.3B	$2.52B
Net debt (debt - cash)	$1.98B	$1.14B	$1.37B	$1.52B	$1.96B	$1.22B	$1.52B	$2.05B	$2.37B	$1.76B	$2.14B	$2.37B

Balance sheet	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Assets
Cash & equivalents	$385M	$277M	$409M	$392M	$1.05B	$432M	$738M	$767M	$703M	$424M
Short-term investments	$30M	$120M	$0	$110M	$0	$0	$0	$0	$0	$70M
Receivables	$88.6M	$99.7M	$136M	$139M	$193M	$234M	$199M	$208M	$223M	$296M
Inventory	$944M	$1.1B	$1.21B	$1.29B	$1.17B	$1.5B	$1.6B	$1.74B	$1.97B	$2.18B
Other current assets	$88.6M	$98.7M	$138M	$104M	$107M	$62.2M	$69.5M	$50.2M	$63.7M	$100M
Current assets	$1.54B	$1.69B	$1.91B	$2.06B	$2.51B	$2.28B	$2.71B	$2.84B	$3.03B	$3.14B
Property, plant & equipment (net)	$1B	$1.19B	$1.23B	$2.74B	$2.5B	$2.4B	$2.57B	$2.76B	$2.85B	$3.25B
Goodwill	$0	$0	$10.9M	$10.9M	$10.9M	$10.9M	$10.9M	$10.9M	$10.9M	$226M
Intangible assets	$0	$0	$4.32M	$3.39M	$2.47M	$1.54M	$1.31M	$510K	$204K	$203M
Other non-current assets	$11.3M	$25.5M	$35.1M	$51.2M	$61.4M	$74.1M	$78.4M	$102M	$113M	$178M
Non-current assets	$1.02B	$1.21B	$1.28B	$2.81B	$2.58B	$2.48B	$2.66B	$2.87B	$2.97B	$3.86B
Total assets	$2.55B	$2.91B	$3.19B	$4.86B	$5.09B	$4.76B	$5.37B	$5.71B	$6B	$7B
Liabilities
Accounts payable	$260M	$326M	$404M	$414M	$477M	$553M	$560M	$544M	$564M	$686M
Accrued expenses	$84.6M	$82.6M	$96M	$77.4M	$144M	$158M	$184M	$151M	$149M	$0
Short-term debt	$0	$0	$0	$240M	$253M	$274M	$283M	$284M	$288M	$369M
Taxes payable	$8.97M	$14.1M	$32.1M	$39.1M	$42.5M	$12.8M	$58.9M	$68.1M	$4.95M	$3.2M
Deferred revenue	$46.3M	$63.1M	$199M	$238M	$274M	$354M	$395M	$437M	$501M	$582M
Other current liabilities	$130M	$157M	$125M	$169M	$152M	$207M	$260M	$232M	$232M	$587M
Current liabilities	$529M	$642M	$824M	$1.14B	$1.34B	$1.56B	$1.68B	$1.66B	$1.78B	$2.22B
Lease obligations (non-current)	$0	$0	$0	$1.7B	$1.64B	$1.57B	$1.62B	$1.63B	$1.64B	$1.81B
Deferred tax liabilities	$86.5M	$59.4M	$83.9M	$89.4M	$65.4M	$39.7M	$55.3M	$85.9M	$42.6M	$98.8M
Other non-current liabilities	$386M	$492M	$463M	$36.4M	$38M	$58.7M	$53.6M	$56.3M	$56.1M	$59.6M
Non-current liabilities	$472M	$492M	$547M	$1.82B	$1.75B	$1.67B	$1.73B	$1.77B	$1.73B	$1.97B
Total liabilities	$1B	$1.13B	$1.37B	$2.96B	$3.09B	$3.23B	$3.41B	$3.43B	$3.51B	$4.2B
Equity
Common stock & paid-in capital	$627K	$614K	$592K	$573K	$569K	$530K	$511K	$491K	$468K	$450K
Retained earnings	$906M	$1.09B	$1.11B	$1.13B	$1.19B	$653M	$996M	$1.29B	$1.47B	$1.74B
Accumulated other comprehensive income	$0	$0	$0	$0	$56K	$0	$0	$0	$0	$3.76M
Shareholders' equity	$1.55B	$1.77B	$1.82B	$1.9B	$2B	$1.54B	$1.96B	$2.28B	$2.49B	$2.8B
Debt
Total debt (incl. leases)	$0	$0	$0	$1.94B	$1.9B	$1.85B	$1.9B	$1.91B	$1.92B	$2.18B
Net debt (debt - cash)	-$385M	-$277M	-$409M	$1.55B	$851M	$1.42B	$1.17B	$1.14B	$1.22B	$1.76B

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.

Cash, investments and debt

quarter ends

The other statements

Income statementRevenue, costs, operating income, net income and EPSOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-08-01, 10-Q 2026-05-02, 10-K 2026-01-31, 10-Q 2025-11-01, 10-Q 2025-08-02, 10-Q 2025-05-03, 10-K 2025-02-01, 10-Q 2024-11-02, 10-Q 2024-08-03

Data as of 2026-11-09