Question 1

What is Ulta Beauty's P/B ratio?

Accepted Answer

Ulta Beauty (ULTA) P/B ratio is 8.0× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Ulta Beauty?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Ulta Beauty specifically, the relevant sector benchmark is the current sector median of 4.2×.

Question 5

Is Ulta Beauty's P/B ratio high or low?

Accepted Answer

Ulta Beauty's P/B ratio of 8.0× is below its own 5-year average of 10.0× and above the sector median of 4.2×. That places the current reading at the 13th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Ulta Beauty's historical P/B ratio range?

Accepted Answer

In the available daily series, Ulta Beauty (ULTA) P/B ratio has ranged from a low of 1.4× in 2007 to a high of 15.0× in 2022. The 5-year average is 10.0× and the 5-year median is 9.9×.

Question 7

What was Ulta Beauty's P/B ratio in 2026?

Accepted Answer

Ulta Beauty (ULTA) P/B ratio at the end of 2026 was 10.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Ulta Beauty's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2026	$29.03B	$2.80B	10.4×	+2.7×	Jan 31, 2026
2025	$19.07B	$2.49B	7.7×	-3.0×	Jan 31, 2025
2024	$24.35B	$2.28B	10.7×	-2.6×	Jan 31, 2024
2023	$26.02B	$1.96B	13.3×	+0.7×	Jan 31, 2023
2022	$19.34B	$1.54B	12.6×	+4.6×	Jan 31, 2022
2021	$15.90B	$2.00B	8.0×	-0.1×	Jan 31, 2021
2020	$15.27B	$1.90B	8.0×	-1.4×	Jan 31, 2020
2019	$17.12B	$1.82B	9.4×	+1.8×	Jan 31, 2019
2018	$13.53B	$1.77B	7.6×	-3.3×	Jan 31, 2018
2017	$16.94B	$1.55B	10.9×	+3.0×	Jan 31, 2017
2016	$11.49B	$1.44B	8.0×	+1.2×	Jan 31, 2016
2015	$8.48B	$1.25B	6.8×	+1.3×	Jan 31, 2015
2014	$5.51B	$1.00B	5.5×	-2.4×	Jan 31, 2014
2013	$6.25B	$786.94M	7.9×	-0.2×	Jan 31, 2013
2012	$4.76B	$584.70M	8.1×	+2.6×	Jan 31, 2012
2011	$2.24B	$402.53M	5.6×	+1.6×	Jan 31, 2011
2010	$1.15B	$292.61M	3.9×	+2.6×	Jan 31, 2010
2009	$336.64M	$244.97M	1.4×	-2.7×	Jan 31, 2009
2008	$868.01M	$211.50M	4.1×	+1.8×	Jan 31, 2008
2007	$339.02M	$148.76M	2.3×	+0.6×	Jan 31, 2007
2006	$207.57M	$123.02M	1.7×	—	Jan 31, 2006


V.F. (VFC)	3.5×
Carnival Corporation (CCL)	3.3×
Genuine Parts (GPC)	3.3×
Lululemon Athletica (LULU)	3.1×
Ball (BALL)	2.8×
PDD Holdings (PDD)	2.3×
GameStop (GME)	2.0×
XPeng (XPEV)	2.0×
Alibaba (BABA)	1.9×
Li Auto (LI)	1.8×
PulteGroup (PHM)	1.7×
Amcor (AMCR)	1.7×
D.R. Horton (DHI)	1.7×
Toll Brothers (TOL)	1.6×
Lucid Group (LCID)	1.5×
Sonoco Products (SON)	1.5×
Leggett & Platt (LEG)	1.3×
International Paper (IP)	1.3×
Lennar (LEN)	1.3×
Weyco Group (WEYS)	1.2×
Ford Motor (F)	1.2×
LKQ (LKQ)	1.2×
Smurfit Westrock (SW)	1.1×
General Motors (GM)	1.1×
Mohawk Industries (MHK)	0.7×

P/B Ratio for Ulta Beauty (ULTA)

P/B Ratio daily chart for Ulta Beauty (ULTA)

Historical P/B Ratio for Ulta Beauty (ULTA) from 2006 to 2026

About P/B Ratio at Ulta Beauty (ULTA)

Ulta Beauty P/B Ratio by Year

Ulta Beauty P/B Ratio 2026: 10.4×

Ulta Beauty P/B Ratio 2025: 7.7×

Ulta Beauty P/B Ratio 2024: 10.7×

Ulta Beauty P/B Ratio 2023: 13.3×

Ulta Beauty P/B Ratio 2022: 12.6×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Ulta Beauty (ULTA) Key Financials

P/B Ratio daily chart for Ulta Beauty (ULTA)

Historical P/B Ratio for Ulta Beauty (ULTA) from 2006 to 2026

About P/B Ratio at Ulta Beauty (ULTA)

Ulta Beauty P/B Ratio by Year

Ulta Beauty P/B Ratio 2026: 10.4×

Ulta Beauty P/B Ratio 2025: 7.7×

Ulta Beauty P/B Ratio 2024: 10.7×

Ulta Beauty P/B Ratio 2023: 13.3×

Ulta Beauty P/B Ratio 2022: 12.6×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Ulta Beauty's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Ulta Beauty?

+Is Ulta Beauty's P/B ratio high or low?

+What is Ulta Beauty's historical P/B ratio range?

+What was Ulta Beauty's P/B ratio in 2026?

+Why does Ulta Beauty's P/B ratio change over time?

Ulta Beauty (ULTA) Key Financials