TTM
12.5%
YoY change
−1.48pp
Trough year (2003)
2.6%
Peak year (2022)
16.2%
Latest annual
12.5%
Operating Margin history chart for Ulta Beauty (ULTA) from 2002 to 2025
Latest: 12.5%
Operating Margin change chart for Ulta Beauty (ULTA) from 2002 to 2025
Latest: −1.48pp
Operating Margin history table for Ulta Beauty (ULTA) from 2002 to 2025
| 2025 | 12.5% | -1.48pp | ||
| 2024 | 14.0% | -1.07pp | ||
| 2023 | 15.0% | -1.11pp | ||
| 2022 | 16.2% | +1.67pp | ||
| 2021 | 14.5% | +9.39pp | ||
| 2020 | 5.1% | -7.34pp | ||
| 2019 | 12.4% | -0.57pp | ||
| 2018 | 13.0% | -0.75pp | ||
| 2017 | 13.8% | -0.11pp | ||
| 2016 | 13.9% | +0.59pp | ||
| 2015 | 13.3% | +0.17pp | ||
| 2014 | 13.1% | +0.19pp | ||
| 2013 | 12.9% | -0.36pp | ||
| 2012 | 13.3% | +2.23pp | ||
| 2011 | 11.0% | +2.87pp | ||
| 2010 | 8.2% | +2.60pp | ||
| 2009 | 5.6% | +1.30pp | ||
| 2008 | 4.3% | -0.85pp | ||
| 2007 | 5.1% | -0.19pp | ||
| 2006 | 5.3% | +0.23pp | ||
| 2005 | 5.1% | +1.32pp | ||
| 2004 | 3.8% | +1.20pp | ||
| 2003 | 2.6% | -1.09pp | ||
| 2002 | 3.7% | — |
- 202512.5%-1.48pp
- 202414.0%-1.07pp
- 202315.0%-1.11pp
- 202216.2%+1.67pp
- 202114.5%+9.39pp
- 20205.1%-7.34pp
- 201912.4%-0.57pp
- 201813.0%-0.75pp
- 201713.8%-0.11pp
- 201613.9%+0.59pp
- 201513.3%+0.17pp
- 201413.1%+0.19pp
- 201312.9%-0.36pp
- 201213.3%+2.23pp
- 201111.0%+2.87pp
- 20108.2%+2.60pp
- 20095.6%+1.30pp
- 20084.3%-0.85pp
- 20075.1%-0.19pp
- 20065.3%+0.23pp
- 20055.1%+1.32pp
- 20043.8%+1.20pp
- 20032.6%-1.09pp
- 20023.7%—
Operating Margin values are taken from Ulta Beauty's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Ulta Beauty (ULTA)
According to Ulta Beauty's latest reported financial statements, the company's latest reported operating margin is 12.5%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of Ulta Beauty (ULTA) operating margin is 12.50% – contracted 1.5 percentage points year-over-year.
The highest annual operating margin of 16.16% was reported in 2022. The lowest in the available history was 2.57% in 2003.
Ulta Beauty Operating Margin by Year
Ulta Beauty Operating Margin 2025: 12.5%
2025's operating margin for Ulta Beauty came in at 12.50%, contracted 1.5 percentage points from 2024.
Ulta Beauty Operating Margin 2024: 14.0%
Ulta Beauty posted operating margin of 13.98% in 2024, contracted 1.1 percentage points from 2023.
Ulta Beauty Operating Margin 2023: 15.0%
In 2023, Ulta Beauty reported operating margin of 15.05%, contracted 1.1 percentage points from 2022.
Ulta Beauty Operating Margin 2022: 16.2%
Ulta Beauty operating margin in 2022 was 16.16%, expanded 1.7 percentage points from 2021. This figure represents the highest annual value in the available history.
Ulta Beauty Operating Margin 2021: 14.5%
Ulta Beauty operating margin in 2021 was 14.49%.
See more financial history for Ulta Beauty (ULTA).
Sector peers by Operating Margin
Consumer Cyclical peers of Ulta Beauty (ULTA), ranked by their latest operating margin
| 46.0% | |
| 34.3% | |
| 22.2% | |
| 12.4% | |
| 12.4% | |
| 11.5% | |
| 5.8% | |
| 5.0% |
- 46.0%
- 22.2%
- 12.4%
- 12.4%
- 11.5%
- 5.8%
- 5.0%
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