Short answer
Ulta Beauty (ULTA) filed its Q4 2025 10-Q quarterly report on Dec 4, 2025 for the quarter ended Nov 1, 2025. Quarterly revenue was $2.9B (up 12.9% year over year) with net income of $231M.
Q4 2025 key financials · XBRL
- Revenue
- $2.9B
- +12.9% YoY · +2.5% QoQ
- Net income
- $231M
- −4.7% YoY · −11.5% QoQ
- Operating margin
- 10.8%
- Gross margin
- 40.4%
- EPS (diluted)
- $5.16
- +0.2% YoY · −10.9% QoQ
Source: XBRL data from the Ulta Beauty (ULTA) Q4 2025 10-Q on SEC EDGAR. USD.
Ulta Beauty Q4 2025 10-Q analysis
AI summary of MD&A and risk factor updates
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
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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