Ulta Beauty (ULTA) Q4 2025 10-Q Quarterly Report
Ulta Beauty (ULTA) 10-Q quarterly report for Q4 2025, filed with SEC EDGAR on Dec 4, 2025 for the fiscal period ending Nov 1, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Ulta Beauty Q4 2025 10-Q Analysis
Management Discussion & Analysis
- • Quarterly revenue $2.86B, up 12.9% YoY from $2.53B, driven by 6.3% comparable sales, Space NK acquisition, and new stores
- • Operating margin 10.8% vs 12.6% YoY; gross margin 40.4% vs 39.7% YoY; SG&A margin 29.4% vs 27.0% YoY increased due to higher compensation and store expenses
- • Best performing: Comparable sales growth 6.3% with average ticket +3.8% and transactions +2.4%; worst pressure from increased SG&A expenses up 23.3%
- • Cash and equivalents $205M up YoY from $178M; operating cash flow $322M, capex $243M, investing outflow increased due to Space NK acquisition
- • Management cautious on sales growth and profitability due to inflation, tariffs, macroeconomic pressures; strategic focus on assortment, loyalty, omnichannel expansion
Risk Factors
- • No new or changed risk factors since 10-K for fiscal 2025
- • Carried-forward competitive risk: intense industry competition impacting market share
- • Carried-forward operational risk: supply chain disruptions affecting product availability
- • Carried-forward financial risk: exposure to fluctuations in foreign currency exchange rates
- • Carried-forward legal risk: ongoing compliance with consumer protection and data privacy regulations
Ulta Beauty Q4 2025 Quarterly FinancialsXBRL
Revenue
$2.9B
▲ +12.9% YoY▲ +2.5% QoQ
Net Income
$231M
▼ -4.7% YoY▼ -11.5% QoQ
Net Margin
8.1%
▼ -149bp YoY▼ -128bp QoQ
Source: XBRL data from Ulta Beauty Q4 2025 10-Q filing on SEC EDGAR. All figures in USD.
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