Operating CF
$1.55B
Capex
-$501M
Free Cash Flow
$1.05B
FCF Margin
+67.6%
Cash flow waterfall for Ulta Beauty (ULTA) — TTM through Q2 2026
Free cash flow: $1.05B
Cash flow breakdown for Ulta Beauty (ULTA) — TTM through Q2 2026
| Line item | Amount | Running total |
|---|---|---|
| Operating Cash Flow | $1.55B | $1.55B |
| Capital Expenditure | -$501M | $1.05B |
| Free Cash Flow | $1.05B | $1.05B |
| Acquisitions | -$387M | $661M |
| Other Investing | -$101M | $561M |
| Share Buybacks | -$1.27B | -$714M |
| Net Debt Change | $606M | -$107M |
| Other Financing & FX | -$219M | -$326M |
| Net Cash Decrease | -$326M | -$326M |
- Operating Cash Flow$1.55B
- Capital Expenditure-$501M
- Free Cash Flow$1.05B
- Acquisitions-$387M
- Other Investing-$101M
- Share Buybacks-$1.27B
- Net Debt Change$606M
- Other Financing & FX-$219M
- Net Cash Decrease-$326M
Want to see what drove the FCF change?Free Cash Flow Bridge
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