For the year ending 2026-01-31, ULTA had -$278,958K decrease in cash & cash equivalents over the period. $1,067,951K in free cash flow.
| Cash Flow | 2026-01-31 | 2025-02-01 | 2024-02-03 | 2023-01-28 |
|---|---|---|---|---|
| Net sales | 12,392,820 | 11,295,654 | - | - |
| Cost of sales | 7,547,596 | 6,908,401 | - | - |
| Associate expenses, net | 1,714,677 | 1,459,231 | - | - |
| Advertising expense, net | 490,980 | 431,455 | - | - |
| Pre-opening expenses | 15,821 | 13,689 | - | - |
| Other segment expenses | 1,090,754 | 917,906 | - | - |
| Interest expense (income), net | -1,787 | 15,094 | - | - |
| Income tax expense | 373,869 | 378,948 | - | - |
| Equity net loss of affiliate | -3,857 | - | - | - |
| Net income | 1,153,479 | 1,201,118 | 1,291,005 | 1,242,408 |
| Depreciation and amortization | 300,772 | 267,042 | 243,840 | 241,372 |
| Non-cash lease expense | 351,281 | 310,636 | 332,754 | 301,912 |
| Deferred income taxes | 3,238 | 43,328 | -30,575 | -15,653 |
| Stock-based compensation expense | - | 42,787 | 48,246 | 43,044 |
| Share-based compensation | 37,426 | - | - | - |
| Loss on disposal of property and equipment | -10,998 | -11,566 | -11,419 | -6,688 |
| Equity net loss of affiliate | 3,857 | - | - | - |
| Receivables | 71,375 | 15,395 | 8,517 | -34,260 |
| Merchandise inventories | 135,801 | 226,078 | 138,685 | 104,233 |
| Prepaid expenses and other current assets | 25,607 | 13,515 | -14,648 | 19,432 |
| Income taxes | -9,199 | 34,772 | 45,367 | -45,182 |
| Accounts payable | 89,061 | 30,297 | -20,873 | 8,309 |
| Accrued liabilities | 108,201 | 6,303 | -62,238 | 48,249 |
| Deferred revenue | 73,358 | 63,994 | 41,914 | 41,098 |
| Operating lease liabilities | -352,836 | -333,835 | -338,105 | -324,500 |
| Other assets and liabilities | 27,597 | -2,241 | 15,084 | 7,731 |
| Net cash provided by operating activities | 1,502,780 | 1,338,605 | 1,476,266 | 1,481,915 |
| Purchases of short-term investments | 70,000 | - | - | - |
| Capital expenditures | 434,829 | 374,458 | 435,267 | 312,126 |
| Acquisitions, net of cash acquired | 386,813 | - | - | - |
| Other investments | 39,704 | 8,631 | 6,158 | 2,458 |
| Net cash used in investing activities | -931,346 | -383,089 | -441,425 | -314,584 |
| Borrowings from credit facility | - | 199,700 | 195,400 | - |
| Borrowings from short-term debt | 2,214,888 | - | - | - |
| Payments on credit facility | - | 199,700 | 195,400 | - |
| Payments on short-term debt | 2,182,316 | - | - | - |
| Repurchase of common shares | 901,388 | 1,003,328 | 995,738 | 900,033 |
| Stock options exercised | 32,562 | 12,339 | 12,176 | 46,011 |
| Purchase of treasury shares | 13,649 | 23,761 | 22,562 | 6,992 |
| Debt issuance costs | 763 | 4,159 | - | - |
| Net cash used in financing activities | -850,666 | -1,018,909 | -1,006,124 | -861,014 |
| Effect of exchange rate changes on cash and cash equivalents | 274 | - | - | - |
| Net (decrease) increase in cash and cash equivalents | -278,958 | -63,393 | 28,717 | 306,317 |
| Cash and cash equivalents at beginning of year | 703,201 | 766,594 | 737,877 | 431,560 |
| Cash and cash equivalents at end of year | 424,243 | 703,201 | 766,594 | 737,877 |
Ulta Beauty, Inc. (ULTA)
Ulta Beauty, Inc. (ULTA)