Ulta Beauty annual operating margin
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Ulta Beauty Operating Margin Growth & History (ULTA)
Ulta Beauty's operating margin was 12.37% for fiscal 2025.
View full Ulta Beauty company overviewUlta Beauty annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2026-01-31 | 12.37% | −1.48 pp |
| 2024 | 2025-02-01 | 13.85% | −1.12 pp |
| 2023 | 2024-02-03 | 14.97% | −1.08 pp |
| 2022 | 2023-01-28 | 16.05% | +1.02 pp |
| 2021 | 2022-01-29 | 15.03% | +11.18 pp |
| 2020 | 2021-01-30 | 3.85% | −8.33 pp |
| 2019 | 2020-02-01 | 12.18% | −0.54 pp |
| 2018 | 2019-02-02 | 12.72% | −0.63 pp |
| 2017 | 2018-02-03 | 13.35% | −0.14 pp |
| 2016 | 2017-01-28 | 13.49% | +0.59 pp |
| 2015 | 2016-01-30 | 12.90% | +0.24 pp |
| 2014 | 2015-01-31 | 12.66% | +0.40 pp |
| 2013 | 2014-02-01 | 12.27% | −0.34 pp |
| 2012 | 2013-02-02 | 12.61% | +1.56 pp |
| 2011 | 2012-01-28 | 11.05% | +2.87 pp |
| 2010 | 2011-01-29 | 8.17% | +2.60 pp |
| 2009 | 2010-01-30 | 5.57% | — |
Ulta Beauty quarterly operating margin
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Q1.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q1 2026 | 2026-05-02 | 14.17% | +0.06 pp |
| Q4 2025 | 2026-01-31 | 12.23% | −2.57 pp |
| Q3 2025 | 2025-11-01 | 10.83% | −1.76 pp |
| Q2 2025 | 2025-08-02 | 12.37% | −0.53 pp |
| Q1 2025 | 2025-05-03 | 14.11% | −0.60 pp |
| Q4 2024 | 2025-02-01 | 14.80% | +0.26 pp |
| Q3 2024 | 2024-11-02 | 12.59% | −0.56 pp |
| Q2 2024 | 2024-08-03 | 12.90% | −2.58 pp |
| Q1 2024 | 2024-05-04 | 14.71% | −2.07 pp |
| Q4 2023 | 2024-02-03 | 14.55% | +0.68 pp |
| Q3 2023 | 2023-10-28 | 13.15% | −2.32 pp |
| Q2 2023 | 2023-07-29 | 15.48% | −1.56 pp |
| Q1 2023 | 2023-04-29 | 16.78% | −1.88 pp |
| Q4 2022 | 2023-01-28 | 13.87% | +0.11 pp |
| Q3 2022 | 2022-10-29 | 15.47% | +1.23 pp |
| Q2 2022 | 2022-07-30 | 17.04% | +0.15 pp |
| Q1 2022 | 2022-04-30 | 18.66% | +2.91 pp |
| Q4 2021 | 2022-01-29 | 13.76% | +3.56 pp |
| Q3 2021 | 2021-10-30 | 14.24% | +7.72 pp |
| Q2 2021 | 2021-07-31 | 16.89% | +15.85 pp |
| Q1 2021 | 2021-05-01 | 15.75% | +24.40 pp |
| Q4 2020 | 2021-01-30 | 10.20% | −2.28 pp |
| Q3 2020 | 2020-10-31 | 6.53% | −3.45 pp |
| Q2 2020 | 2020-08-01 | 1.04% | −11.44 pp |
| Q1 2020 | 2020-05-02 | −8.65% | −22.28 pp |
| Q4 2019 | 2020-02-01 | 12.48% | −0.76 pp |
| Q3 2019 | 2019-11-02 | 9.97% | −0.87 pp |
| Q2 2019 | 2019-08-03 | 12.48% | −0.54 pp |
| Q1 2019 | 2019-05-04 | 13.63% | +0.03 pp |
| Q4 2018 | 2019-02-02 | 13.24% | +0.10 pp |
| Q3 2018 | 2018-11-03 | 10.85% | −1.27 pp |
| Q2 2018 | 2018-08-04 | 13.02% | −0.92 pp |
| Q1 2018 | 2018-05-05 | 13.59% | −0.73 pp |
| Q4 2017 | 2018-02-03 | 13.13% | −1.06 pp |
| Q3 2017 | 2017-10-28 | 12.12% | −0.23 pp |
| Q2 2017 | 2017-07-29 | 13.94% | +0.49 pp |
| Q1 2017 | 2017-04-29 | 14.33% | +0.62 pp |
| Q4 2016 | 2017-01-28 | 14.19% | +0.82 pp |
| Q3 2016 | 2016-10-29 | 12.35% | +0.18 pp |
| Q2 2016 | 2016-07-30 | 13.45% | −0.06 pp |
| Q1 2016 | 2016-04-30 | 13.71% | +1.31 pp |
| Q4 2015 | 2016-01-30 | 13.36% | +0.24 pp |
| Q3 2015 | 2015-10-31 | 12.16% | −0.45 pp |
| Q2 2015 | 2015-08-01 | 13.51% | +0.16 pp |
| Q1 2015 | 2015-05-02 | 12.39% | +1.06 pp |
| Q4 2014 | 2015-01-31 | 13.12% | −0.03 pp |
| Q3 2014 | 2014-11-01 | 12.62% | +0.84 pp |
| Q2 2014 | 2014-08-02 | 13.34% | +1.22 pp |
| Q1 2014 | 2014-05-03 | 11.33% | −0.29 pp |
| Q4 2013 | 2014-02-01 | 13.15% | −0.53 pp |
| Q3 2013 | 2013-11-02 | 11.78% | −0.35 pp |
| Q2 2013 | 2013-08-03 | 12.12% | +0.20 pp |
| Q1 2013 | 2013-05-04 | 11.62% | −0.50 pp |
| Q4 2012 | 2013-02-02 | 13.67% | +1.10 pp |
| Q3 2012 | 2012-10-27 | 12.12% | +1.42 pp |
| Q2 2012 | 2012-07-28 | 11.93% | +1.88 pp |
| Q1 2012 | 2012-04-28 | 12.12% | +2.00 pp |
| Q4 2011 | 2012-01-28 | 12.57% | +2.23 pp |
| Q3 2011 | 2011-10-29 | 10.71% | +3.55 pp |
| Q2 2011 | 2011-07-30 | 10.05% | +3.14 pp |
| Q1 2011 | 2011-04-30 | 10.12% | +2.83 pp |
| Q4 2010 | 2011-01-29 | 10.35% | — |
| Q3 2010 | 2010-10-30 | 7.16% | — |
| Q2 2010 | 2010-07-31 | 6.92% | — |
| Q1 2010 | 2010-05-01 | 7.29% | — |
Ulta Beauty operating margin trends
Over the last five reported fiscal years, Ulta Beauty's operating margin increased from 3.85% to 12.37%, a change of +8.52 percentage points. The latest reported quarter, Q1 2026, shows 14.17%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Ulta Beauty filings at SEC.gov ↗