ULTA Ulta Beauty, Inc. - Common Stock
$536.13
Price · Aug 19, 2026
Fundamentals as of Jun 2, 2026
52W Range
$444–$715
34% of range
Analyst Rating
BUY
34 analysts
Price Target
$623
+16% upside
P/E (TTM)
20.9
ROE
42.7%
Net Profit Margin
9.3%
About Ulta Beauty, Inc. - Common Stock Company overview from Wikipedia
Ulta Beauty, Inc., formerly known as Ulta Salon, Cosmetics & Fragrance Inc. and before 2000 as Ulta3, is an American chain of cosmetic stores headquartered in Bolingbrook, Illinois. Ulta Beauty carries both high- and low-end cosmetics, fragrances, nail products, bath and body products, beauty tools and haircare products. Nearly every Ulta Beauty store features a full-service salon.
Read more
Ulta Beauty, Inc., formerly known as Ulta Salon, Cosmetics & Fragrance Inc. and before 2000 as Ulta3, is an American chain of cosmetic stores headquartered in Bolingbrook, Illinois. Ulta Beauty carries both high- and low-end cosmetics, fragrances, nail products, bath and body products, beauty tools and haircare products. Nearly every Ulta Beauty store features a full-service salon.
History
Ulta was founded by Richard E. George, the former president of Osco Drug, Inc., and Terry Hanson. George left Osco in 1989 to develop a business plan for a retailer that would offer beauty products at different price levels. Other Osco executives joined George and Hanson in the business and raised $11.5 million in venture capital. Founded in 1990, the company was initially called Ulta3 to suggest a third option for consumers to purchase beauty products, beyond a drugstore or department store. Upon its launch, the brand opened five brick and mortar locations in the suburbs of Chicago. The name Ulta3 came from the idea to sell multiple types of beauty products in the same store. The first of the locations opened at High Point Centre in Lombard, Illinois in early October 1990. The name was changed from Ulta3 to Ulta at the end of 1999.
On October 25, 2007, the company became publicly traded on the NASDAQ.
In 2008, Ulta also opened a second distribution center in Phoenix, Arizona.
In 2020, before the COVID-19 pandemic there were 44,000 employees. By 2021, Ulta employed approximately 37,000 people. In 2024, company employment rose to 58,000 employees.
Corporate governance
George left Ulta in 1995, and Hanson became the company's chief executive officer (CEO). In December 1999, Lyn Kirby became the president and CEO and Charles "Rick" Weber became senior executive vice president, chief operating officer (COO) and Chief Financial Officer (CFO).
In 2010, Carl "Chuck" Rubin was appointed as chief operating officer, president, and as a member of the board of directors.
On June 24, 2013, it was announced that Mary Dillon would be appointed as CEO and a member of the board of directors, effective July 1, 2013. Dillon was previously the chief of U.S. Cellular and a senior executive at McDonald's and PepsiCo.
On January 6, 2025, Dave Kimbell announced his retirement as CEO of Ulta Beauty effective immediately. Dave Kimbell was succeeded as CEO by Kecia Steelman, who was previously the company’s chief operating officer. The same month, Amiee Bayer-Thomas was named chief retail officer.
In June of the same year, Chris Lialios was appointed as chief financial officer (CFO). Also in June 2025, Lauren Brindley was named chief merchandising and digital officer.
Locations
As of January 31, 2026, Ulta Beauty operated 1,591 stores worldwide, including 1,505 Ulta Beauty stores in the United States and 86 Space NK stores in the United Kingdom and Ireland. The company also expanded internationally through a joint venture in Mexico with Grupo Axo and a franchise partnership in the Middle East with Alshaya Group.
In 2025, Ulta Beauty launched their first store outside the United States, in The Avenues Mall, Kuwait. The company also announced their expansion into the Mexican market through a joint venture with the retail group Axo. This decision was part of the company's long-term growth strategy, following an evaluation that identified Mexico's beauty market as a sector with significant growth potential. The initial phase of this expansion included plans to open stores in Mexico City and Guadalajara, and aimed to introduce the brand to key urban centers.
Operations
Ulta Beauty offers both high-end and drugstore cosmetics, skincare, and fragrances, in addition to its own brands of beauty products and fragrances. They sell brands such as MAC Cosmetics, Kylie Cosmetics, and ColourPop Cosmetics.
Ulta Beauty sales were $713.8 million for the first quarter ending in May 2014. At the end of the second quarter ending in August 2014, Ulta Beauty reported that total sales increased by 22.2% and comparable store sales increased 9.8%.
In 2019, Ulta had stores in 48 states. A majority of Ulta Beauty stores are located in the East Coast region and in California.
The same year, Ulta joined the 15 Percent Pledge, which dedicated more store shelf space to Black-owned businesses.
In 2020, Ulta Beauty announced a partnership with Credo Beauty to introduce a Credo-curated clean beauty collection in 100 Ulta stores and on Ulta.com.
In 2022, Ulta collaborated with Allure, bringing a collection of 25,000 products to Allure’s online and brick-and-mortar stores. The collaboration ran from July to September 2022 and included brands such as Fenty Beauty, Drybar, Olaplex, Tula, The Ordinary, Peter Thomas Roth, CosRX, NYX, Morphe, and Beekman 1802 selected by Ulta's merchandising team.
On January 1, 2024, Ulta Beauty began construction to move out from their original distribution center located in Romeoville, IL 888-FFC to their new Bolingbrook, IL 871-MFC building & began operations on August 5, 2024.
Target partnership
In August 2021, the retail chain Target started selling Ulta's products. By 2025, there were 600 Target locations selling Ulta products, 200 short of their mutual goal. Following the failure to meet projected goals, Ulta Beauty and Target Corporation formally announced that they were ending their partnership in August 2025. The two companies mutually agreed to not renew their agreement for the coming year, meaning the Ulta Beauty at Target experience would end in August 2026. Ulta Beauty products were still available in Target stores and online until the end of the agreement.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
ULTA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$536.12
Market Cap
$23.68B
P/E (TTM)
20.9
EPS (TTM)
$25.64
Revenue (TTM)
$12.39B
Div Yield
—
ROE
42.7%
Debt/Equity
0.0
52W Range
$444 – $715
ULTA Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$12.39B
2024-02-03
→
2026-01-31
EPS
$25.64
2024-02-03
→
2026-01-31
Free Cash Flow
$1.07B
2024-02-03
→
2026-01-31
Margins
9.3%
2024-02-03
→
2026-01-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ULTA
Peer Median
P/E (TTM)
20.9
12.1
P/S (TTM)
1.9
0.2
P/B
8.4
2.4
EV / EBITDA
12.7
—
Price / FCF
22.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ULTA
Peer Median
Gross Margin
39.1%
37.3%
Operating Margin
12.4%
—
Net Profit Margin
9.3%
-5.5%
ROA
17.7%
-9.6%
ROE
42.7%
-30.1%
ROIC
40.4%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ULTA
Peer Median
Debt / Equity
0.0
—
Current Ratio
1.4
1.4
Quick Ratio
0.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ULTA
Peer Median
Revenue YoY
9.7%
—
Revenue CAGR 3Y
6.7%
—
Revenue CAGR 5Y
15.0%
—
EPS YoY
1.2%
—
Net Income YoY
-4.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ULTA
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| March 16, 2012 | $1.0000 |
ULTA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
34 analysts
- Strong Buy 9 26.5%
- Buy 16 47.1%
- Hold 8 23.5%
- Sell 1 2.9%
- Strong Sell 0 0.0%
12-Month Price Target
24 analysts · 2026-08-19
Median
$633.00
Now
$536.12
Low
$450.00
High
$735.00
Median target
$633.00
+18.1%
Mean target
$623.42
+16.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.48%
Next Report
Aug 27, 2026
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2027 | $7.74 | $7.00 | — |
| June 30, 2026 | $7.74 | $7.00 | 0.74% |
| March 31, 2026 | $8.01 | $8.18 | -0.17% |
| Dec. 31, 2025 | $5.14 | $4.73 | 0.41% |
| Sept. 30, 2025 | $5.79 | $5.18 | 0.61% |
| June 30, 2025 | $6.72 | $5.92 | 0.80% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ULTA | $27.83B | 24.6 | 9.7% | 9.3% | 42.7% | 39.1% |
| TSCO | $27.08B | 24.9 | 4.3% | 7.1% | 43.2% | 36.4% |
| DKS | — | 20.3 | 28.1% | 4.9% | 19.1% | 32.9% |
| FIVE | $10.50B | 29.4 | 22.9% | 7.5% | 17.5% | — |
| CHWY | $12.08B | 56.0 | 6.2% | 1.8% | 50.2% | 29.8% |
| BBWI | $4.38B | 7.0 | -0.22% | 8.9% | -48.7% | 43.7% |
| WRBY | — | 2179.0 | 13.0% | 0.19% | 0.45% | 54.0% |
| ASO | $3.65B | 10.1 | 2.0% | 6.2% | 17.7% | 34.8% |
| SBH | $1.59B | 8.6 | -0.42% | 5.3% | 26.2% | 51.6% |
| EYE | $2.06B | 70.1 | 9.0% | 1.5% | 3.4% | — |
| WINA | $1.47B | 36.3 | 5.9% | 48.4% | -92.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.39B | $11.30B | $11.21B | $10.21B | $8.63B | $6.15B | · | · | $5.88B | $4.85B | |
| Cost of Revenue | $7.55B | $6.91B | $6.83B | $6.16B | $5.26B | $4.20B | · | · | $3.79B | $3.11B | |
| Gross Profit | $4.85B | $4.39B | $4.38B | $4.04B | $3.37B | $1.95B | · | · | $2.10B | $1.75B | |
| SG&A Expense | $3.30B | $2.81B | $2.69B | $2.40B | $2.06B | $1.58B | · | · | $1.29B | $1.07B | |
| Operating Income | $1.53B | $1.56B | $1.68B | $1.64B | $1.30B | $237M | · | · | $785M | $655M | |
| Pretax Income | $1.53B | $1.58B | $1.70B | $1.64B | $1.30B | $231M | · | · | $787M | $656M | |
| Income Tax | $374M | $379M | $405M | $401M | $310M | $55M | · | · | $232M | $246M | |
| Net Income | $1.15B | $1.20B | $1.29B | $1.24B | $986M | $176M | · | · | $555M | $410M | |
| EPS (Basic) | $25.72 | $25.44 | $26.18 | $24.17 | $18.09 | $3.12 | · | · | $9.02 | $6.55 | |
| EPS (Diluted) | $25.64 | $25.34 | $26.03 | $24.01 | $17.98 | $3.11 | · | · | $8.96 | $6.52 | |
| Shares (Basic) | 44,842,000 | 47,207,000 | 49,304,000 | 51,403,000 | 54,482,000 | 56,351,000 | · | · | 61,556,000 | 62,519,000 | |
| Shares (Diluted) | 44,991,000 | 47,404,000 | 49,596,000 | 51,738,000 | 54,841,000 | 56,558,000 | · | · | 61,975,000 | 62,851,000 | |
| EBITDA | $1.83B | $1.83B | $1.92B | $1.88B | $1.57B | $535M | · | · | $1.04B | $865M |
Balance Sheet 28
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $424M | $703M | $767M | $738M | $432M | $1.05B | $1.04B | $327M | $277M | $385M | |
| Short-term Investments | $70M | · | · | · | · | $0 | $110M | $195M | $120M | $30M | |
| Receivables | $296M | $223M | $208M | $199M | $234M | $193M | $89M | $110M | $100M | $89M | |
| Prepaid Expense | $169M | $129M | $116M | $130M | $111M | $107M | $97M | $137M | $99M | $89M | |
| Current Assets | $3.14B | $3.03B | $2.84B | $2.71B | $2.28B | $2.51B | $2.73B | $2.02B | $1.69B | $1.54B | |
| PP&E (Net) | $1.43B | $1.24B | $1.18B | $1.01B | $914M | $996M | $1.15B | $1.21B | $1.19B | $1.00B | |
| PP&E (Gross) | $3.85B | $3.39B | $3.19B | $2.86B | $2.63B | $2.57B | · | · | $2.15B | $1.80B | |
| Accum. Depreciation | $2.41B | $2.15B | $2.01B | $1.85B | $1.72B | $1.57B | · | · | $959M | $799M | |
| Goodwill | $226M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $0 | · | |
| Intangibles | · | $204.0K | $510.0K | $1M | · | $2M | · | · | · | · | |
| Other Non-current Assets | $125M | $65M | $59M | $43M | $36M | $28M | $30M | $23M | $9M | · | |
| Total Assets | $7.00B | $6.00B | $5.71B | $5.37B | $4.76B | $5.09B | $5.53B | $4.77B | $2.91B | $2.55B | |
| Accounts Payable | $686M | $564M | $544M | $560M | $553M | $477M | $466M | $407M | $326M | $260M | |
| Accrued Liabilities | $551M | $380M | $382M | $444M | $365M | $296M | $173M | $227M | $189M | $261M | |
| Short-term Debt | $62M | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $2.22B | $1.78B | $1.66B | $1.68B | $1.56B | $1.34B | $1.10B | $1.05B | $642M | $529M | |
| Capital Leases | $1.81B | $1.64B | $1.63B | $1.62B | $1.57B | $1.64B | $1.75B | $1.65B | · | · | |
| Deferred Tax | $99M | $43M | $86M | $55M | $40M | $65M | $95M | $90M | $59M | $86M | |
| Other Non-current Liabilities | $60M | $56M | $56M | $54M | $59M | $38M | $37M | $34M | $25M | $20M | |
| Total Liabilities | $4.20B | $3.51B | $3.43B | $3.41B | $3.23B | $3.09B | $3.78B | $2.82B | $1.13B | $1.00B | |
| Total Debt | $62M | · | · | · | · | · | · | · | · | · | |
| Common Stock | $450.0K | $468.0K | $491.0K | $511.0K | $530.0K | $569.0K | $570.0K | $593.0K | $614.0K | $627.0K | |
| Retained Earnings | $1.74B | $1.47B | $1.29B | $996M | $653M | $1.19B | $977M | $1.19B | $1.09B | $906M | |
| Treasury Stock | $120M | $107M | $83M | $60M | $53M | $38M | $37M | $34M | $19M | $15M | |
| AOCI | $4M | · | · | · | · | $56.0K | $-75.0K | · | · | · | |
| Stockholders' Equity | $2.80B | $2.49B | $2.28B | $1.96B | $1.54B | $2.00B | $1.75B | $1.94B | $1.77B | $1.55B | |
| Liabilities + Equity | $7.00B | $6.00B | $5.71B | $5.37B | $4.76B | $5.09B | $5.53B | $4.77B | $2.91B | $2.55B | |
| Shares Outstanding | 44,166,000 | 46,809,000 | 49,123,000 | 51,120,000 | 53,049,000 | 56,952,000 | 57,003,000 | 59,262,000 | 61,441,000 | 62,733,000 |
Cash Flow 15
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $301M | $267M | $244M | $241M | $268M | $298M | · | · | $253M | $210M | |
| Stock-based Comp | $37M | $43M | $48M | $43M | $47M | $28M | · | · | $24M | $19M | |
| Deferred Tax | $-2M | $-43M | $31M | $16M | $-26M | $-24M | · | · | $-27M | $27M | |
| Amort. of Intangibles | $204.0K | $306.0K | $889.0K | $1M | $926.0K | $926.0K | · | · | $0 | $0 | |
| Other Non-cash | $13M | $-129M | $-137M | $-61M | $-217M | $333M | · | · | $-26M | $-32M | |
| Operating Cash Flow | $1.50B | $1.34B | $1.48B | $1.48B | $1.06B | $810M | · | · | $779M | $634M | |
| CapEx | $435M | $374M | $435M | $312M | $172M | $152M | · | · | $441M | $373M | |
| Investing Cash Flow | $-931M | $-383M | $-441M | $-315M | $-176M | $-49M | · | · | $-531M | $-273M | |
| Net Debt Issued | · | $-200M | $-195M | · | · | $-800M | · | · | · | · | |
| Stock Repurchased | $901M | $1.00B | $996M | $900M | $1.52B | $115M | · | · | $368M | $344M | |
| Net Stock Activity | $-901M | $-1.00B | $-996M | $-900M | $-1.52B | $-115M | · | · | $-368M | $-344M | |
| Financing Cash Flow | $-851M | $-1.02B | $-1.01B | $-861M | $-1.50B | $-108M | · | · | $-356M | $-322M | |
| Net Change in Cash | $-279M | $-63M | $29M | $306M | $-614M | $654M | · | · | $-108M | $39M | |
| Taxes Paid | $382M | $386M | $328M | $430M | $371M | $19M | · | · | $255M | $213M | |
| Free Cash Flow | $1.07B | $964M | $1.04B | $1.17B | $887M | $658M | · | · | $339M | $261M |
Profitability 8
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.1% | 38.8% | 39.1% | 39.6% | 39.0% | 31.7% | · | · | 35.6% | 36.0% | |
| Operating Margin | 12.4% | 13.9% | 15.0% | 16.1% | 15.0% | 3.9% | · | · | 13.4% | 13.5% | |
| Net Margin | 9.3% | 10.6% | 11.5% | 12.2% | 11.4% | 2.9% | · | · | 9.4% | 8.4% | |
| Pretax Margin | 12.4% | 14.0% | 15.1% | 16.1% | 15.0% | 3.8% | · | · | 13.4% | 13.5% | |
| EBITDA Margin | 14.8% | 16.2% | 17.2% | 18.4% | 18.1% | 8.7% | · | · | 17.6% | 17.8% | |
| ROA | 17.7% | 20.1% | 22.9% | 23.2% | 19.6% | 3.5% | · | · | 19.3% | 16.1% | |
| ROE | 42.7% | 49.9% | 59.9% | 64.0% | 56.0% | 9.1% | · | · | 32.8% | 27.3% | |
| ROIC | 40.4% | 47.8% | 56.0% | 63.2% | 64.3% | 9.0% | · | · | 31.2% | 26.4% |
Liquidity & Solvency 3
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.4 | 1.7 | 1.7 | 1.6 | 1.5 | 1.9 | · | · | 2.6 | 2.9 | |
| Quick Ratio | 0.4 | 0.5 | 0.6 | 0.6 | 0.4 | 0.9 | · | · | 0.8 | 1.0 | |
| Debt / Equity | 0.0 | · | · | · | · | · | · | · | · | · |
Efficiency 2
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.9 | 1.9 | 2.0 | 1.9 | 1.7 | 1.2 | · | · | 2.0 | 1.9 | |
| Receivables Turnover | 47.7 | 51.7 | 54.6 | 51.1 | 42.8 | 37.4 | · | · | 64.4 | 62.9 |
Growth Rates 9
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 9.7% | 0.79% | 9.8% | 18.3% | 40.3% | · | · | · | · | · | |
| Revenue CAGR 3Y | 6.7% | 9.4% | 22.1% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 15.0% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 1.2% | -2.6% | 8.4% | 33.5% | 478.1% | · | · | · | · | · | |
| EPS CAGR 3Y | 2.2% | 12.1% | 103.0% | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 52.5% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -4.0% | -7.0% | 3.9% | 26.0% | 460.7% | · | · | · | · | · | |
| Net Income CAGR 3Y | -2.5% | 6.8% | 94.4% | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 45.7% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $12.39B | $11.30B | $11.21B | $10.21B | $8.63B | $6.15B | · | · | $5.88B | $4.85B | |
| Net Income TTM | $1.15B | $1.20B | $1.29B | $1.24B | $986M | $176M | · | · | $555M | $410M | |
| Market Cap | $27.83B | $18.94B | $24.42B | $25.47B | $18.77B | $15.74B | · | · | $13.35B | $16.86B | |
| Enterprise Value | $27.39B | · | · | · | · | · | · | · | · | · | |
| P/E | 24.6 | 16.3 | 19.4 | 21.1 | 20.0 | 90.0 | · | · | 24.5 | 41.6 | |
| P/S | 2.2 | 1.7 | 2.2 | 2.5 | 2.2 | 2.6 | · | · | 2.3 | 3.5 | |
| P/B | 9.9 | 7.6 | 10.7 | 13.0 | 12.2 | 7.9 | · | · | 7.5 | 10.9 | |
| P / Tangible Book | 10.8 | 7.6 | 10.8 | 13.1 | 12.3 | 7.9 | · | · | · | · | |
| P / Cash Flow | 18.5 | 14.2 | 16.5 | 17.2 | 17.7 | 19.4 | · | · | 17.1 | 26.6 | |
| P / FCF | 26.1 | 19.6 | 23.5 | 21.8 | 21.2 | 23.9 | · | · | 39.4 | 64.6 | |
| EV / EBITDA | 14.9 | · | · | · | · | · | · | · | · | · | |
| EV / FCF | 25.7 | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 2.2 | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | 4.1% | 6.2% | 5.1% | 4.8% | 5.0% | 1.1% | · | · | 4.1% | 2.4% |
Income Statement 13
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.16B | $3.90B | $2.86B | $2.79B | $2.85B | $3.49B | $2.53B | $2.55B | $2.73B | $3.55B | $2.49B | $2.53B | $2.63B | $3.23B | $2.34B | $2.30B | |
| Cost of Revenue | $1.90B | $2.41B | $1.70B | $1.70B | $1.73B | $2.15B | $1.52B | $1.57B | $1.66B | $2.21B | $1.50B | $1.54B | $1.58B | $2.01B | $1.38B | $1.37B | |
| Gross Profit | $1.27B | $1.48B | $1.16B | $1.09B | $1.11B | $1.33B | $1.01B | $978M | $1.07B | $1.34B | $992M | $994M | $1.05B | $1.21B | $963M | $928M | |
| SG&A Expense | $815M | $1.00B | $841M | $742M | $711M | $816M | $682M | $645M | $666M | $820M | $661M | $601M | $612M | $763M | $597M | $534M | |
| Operating Income | $448M | $477M | $309M | $345M | $402M | $516M | $319M | $329M | $401M | $517M | $327M | $392M | $442M | $448M | $362M | $391M | |
| Pretax Income | $449M | $474M | $305M | $346M | $405M | $518M | $320M | $334M | $408M | $520M | $330M | $396M | $449M | $452M | $363M | $392M | |
| Income Tax | $107M | $116M | $73M | $85M | $100M | $125M | $78M | $81M | $95M | $126M | $80M | $96M | $102M | $111M | $88M | $96M | |
| Net Income | $340M | $357M | $231M | $261M | $305M | $393M | $242M | $253M | $313M | $394M | $249M | $300M | $347M | $341M | $275M | $296M | |
| EPS (Basic) | $7.78 | $8.04 | $5.16 | $5.80 | $6.72 | $8.45 | $5.16 | $5.32 | $6.51 | $8.12 | $5.09 | $6.05 | $6.92 | $6.73 | $5.37 | $5.73 | |
| EPS (Diluted) | $7.74 | $8.02 | $5.14 | $5.78 | $6.70 | $8.43 | $5.14 | $5.30 | $6.47 | $8.06 | $5.07 | $6.02 | $6.88 | $6.67 | $5.34 | $5.70 | |
| Shares (Basic) | 43,781,000 | -90,206,000 | 44,731,000 | 44,955,000 | 45,362,000 | -95,351,000 | 46,928,000 | 47,505,000 | 48,125,000 | -99,473,000 | 49,007,000 | 49,617,000 | 50,153,000 | -103,585,000 | 51,131,000 | 51,607,000 | |
| Shares (Diluted) | 43,964,000 | -90,524,000 | 44,895,000 | 45,112,000 | 45,508,000 | -95,736,000 | 47,092,000 | 47,667,000 | 48,381,000 | -99,948,000 | 49,226,000 | 49,849,000 | 50,469,000 | -104,162,000 | 51,418,000 | 51,900,000 | |
| EBITDA | $530M | · | $385M | $416M | $474M | · | $319M | $329M | $466M | · | $327M | $392M | $500M | · | $362M | $391M |
Balance Sheet 27
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $166M | $424M | $205M | $243M | $455M | $703M | $178M | $414M | $525M | · | $122M | $389M | $636M | · | $251M | $434M | |
| Short-term Investments | $55M | $70M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Receivables | $248M | $296M | $237M | $224M | $225M | $223M | $214M | $201M | $203M | · | $203M | $174M | $190M | · | $200M | $181M | |
| Prepaid Expense | $166M | $169M | $158M | $166M | $138M | $129M | $136M | $132M | $127M | · | $117M | $111M | $108M | · | $138M | $123M | |
| Current Assets | $3.02B | $3.14B | $3.37B | $3.07B | $2.94B | $3.03B | $2.95B | $2.80B | $2.76B | · | $2.79B | $2.52B | $2.69B | · | $2.75B | $2.44B | |
| PP&E (Net) | $1.42B | $1.43B | $1.37B | $1.33B | $1.25B | $1.24B | $1.26B | $1.23B | $1.20B | · | $1.12B | $1.07B | $1.02B | · | $967M | $912M | |
| PP&E (Gross) | · | $3.85B | · | · | · | $3.39B | · | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | $2.41B | · | · | · | $2.15B | · | · | · | · | · | · | · | · | · | · | |
| Goodwill | $225M | $226M | $393M | $393M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | |
| Other Non-current Assets | $125M | $125M | $113M | $98M | $79M | $65M | $60M | $56M | $57M | · | $57M | $56M | $61M | · | $19M | $36M | |
| Total Assets | $6.90B | $7.00B | $7.01B | $6.63B | $5.99B | $6.00B | $5.96B | $5.74B | $5.63B | · | $5.60B | $5.25B | $5.38B | · | $5.33B | $4.95B | |
| Accounts Payable | $714M | $686M | $759M | $709M | $538M | $564M | $593M | $567M | $464M | · | $597M | $521M | $621M | · | $647M | $587M | |
| Accrued Liabilities | $462M | $551M | $474M | $460M | $347M | $380M | $333M | $348M | $333M | · | $405M | $328M | $309M | · | $463M | $324M | |
| Short-term Debt | $145M | $62M | $552M | $289M | · | · | $200M | · | · | · | $195M | · | · | · | · | · | |
| Current Liabilities | $2.30B | $2.22B | $2.54B | $2.20B | $1.76B | $1.78B | $1.82B | $1.59B | $1.57B | · | $1.84B | $1.49B | $1.63B | · | $1.70B | $1.50B | |
| Capital Leases | $1.85B | $1.81B | $1.73B | $1.72B | $1.69B | $1.64B | $1.66B | $1.65B | $1.61B | · | $1.62B | $1.59B | $1.61B | · | $1.62B | $1.58B | |
| Deferred Tax | $101M | $99M | $45M | $49M | $46M | $43M | $92M | $88M | $90M | · | $57M | $56M | $57M | · | $39M | $40M | |
| Other Non-current Liabilities | $61M | $60M | $63M | $61M | $57M | $56M | $65M | $62M | $61M | · | $56M | $57M | $56M | · | $52M | $53M | |
| Total Liabilities | $4.31B | $4.20B | $4.38B | $4.03B | $3.56B | $3.51B | $3.63B | $3.39B | $3.33B | · | $3.57B | $3.20B | $3.36B | · | $3.41B | $3.18B | |
| Total Debt | · | · | $552M | $289M | · | · | $200M | · | · | · | $195M | · | · | · | · | · | |
| Common Stock | $442.0K | $450.0K | $454.0K | $458.0K | $459.0K | $468.0K | $474.0K | $481.0K | $487.0K | · | $495.0K | $501.0K | $507.0K | · | $517.0K | $521.0K | |
| Retained Earnings | $1.52B | $1.74B | $1.58B | $1.57B | $1.42B | $1.47B | $1.33B | $1.35B | $1.31B | · | $1.05B | $1.08B | $1.06B | · | $983M | $846M | |
| Treasury Stock | $131M | $120M | $120M | $120M | $120M | $107M | $107M | $106M | $106M | · | $83M | $82M | $82M | · | $60M | $60M | |
| AOCI | $88.0K | $4M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $2.58B | $2.80B | $2.63B | $2.60B | $2.43B | $2.49B | $2.33B | $2.35B | $2.30B | $2.28B | $2.03B | $2.05B | $2.02B | $1.96B | $1.92B | $1.77B | |
| Liabilities + Equity | $6.90B | $7.00B | $7.01B | $6.63B | $5.99B | $6.00B | $5.96B | $5.74B | $5.63B | · | $5.60B | $5.25B | $5.38B | · | $5.33B | $4.95B | |
| Shares Outstanding | 43,247,000 | 44,166,000 | 44,502,000 | 44,875,000 | 45,042,000 | 45,965,000 | 46,569,000 | 47,300,000 | 47,845,000 | 49,123,000 | 48,659,000 | 49,341,000 | 49,932,000 | 51,120,000 | 51,029,000 | 51,332,000 |
Cash Flow 12
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $81M | $82M | $76M | $71M | $72M | $70M | $67M | $65M | $65M | $63M | $61M | $62M | $58M | $59M | $58M | $61M | |
| Amort. of Intangibles | · | · | · | · | $204.0K | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | $-160M | · | · | · | $-157M | · | · | · | $-219M | · | · | · | $-100M | · | · | · | |
| Operating Cash Flow | $262M | $1.18B | $6M | $97M | $220M | $1.04B | $-57M | $200M | $159M | $1.12B | $-71M | $124M | $305M | $908M | $33M | $114M | |
| CapEx | $58M | $192M | $87M | $77M | $79M | $74M | $114M | $95M | $91M | $124M | $106M | $95M | $110M | $108M | $83M | $49M | |
| Investing Cash Flow | $-48M | $-276M | $-96M | $-474M | $-86M | $-76M | $-115M | $-98M | $-94M | $-126M | $-109M | $-96M | $-110M | $-108M | $-85M | $-50M | |
| Stock Repurchased | $545M | $197M | $225M | $109M | $370M | $238M | $264M | $212M | $289M | $155M | $282M | $275M | $284M | $328M | $137M | $302M | |
| Net Stock Activity | $-545M | · | · | · | $-370M | · | · | · | $-289M | · | · | · | $-284M | · | · | · | |
| Financing Cash Flow | $-471M | $-686M | $52M | $165M | $-382M | $-435M | $-64M | $-212M | $-308M | $-348M | $-87M | $-275M | $-296M | $-314M | $-131M | $-285M | |
| Net Change in Cash | $-258M | $219M | $-38M | $-212M | $-249M | $525M | $-236M | $-111M | $-242M | $645M | $-267M | $-248M | $-101M | $487M | $-184M | $-220M | |
| Taxes Paid | $4M | $55M | $74M | $245M | $7M | $69M | $84M | $228M | $5M | $61M | $78M | $186M | $3M | $91M | $93M | $243M | |
| Free Cash Flow | $204M | · | · | · | $141M | · | · | · | $68M | · | · | · | $195M | · | · | · |
Profitability 8
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.1% | · | 40.4% | 39.1% | 39.1% | · | 39.8% | 38.3% | 39.2% | · | 39.9% | 39.3% | 40.0% | · | 41.2% | 40.4% | |
| Operating Margin | 14.2% | · | 10.8% | 12.4% | 14.1% | · | 12.6% | 12.9% | 14.7% | · | 13.2% | 15.5% | 16.8% | · | 15.5% | 17.0% | |
| Net Margin | 10.8% | · | 8.1% | 9.4% | 10.7% | · | 9.6% | 9.9% | 11.5% | · | 10.0% | 11.9% | 13.2% | · | 11.7% | 12.9% | |
| Pretax Margin | 14.2% | · | 10.7% | 12.4% | 14.2% | · | 12.7% | 13.1% | 15.0% | · | 13.2% | 15.7% | 17.1% | · | 15.5% | 17.0% | |
| EBITDA Margin | 16.7% | · | 13.5% | 14.9% | 16.6% | · | 12.6% | 12.9% | 17.1% | · | 13.2% | 15.5% | 19.0% | · | 15.5% | 17.0% | |
| ROA | · | · | 3.6% | 4.2% | 5.2% | · | 4.2% | 4.6% | 5.7% | · | 4.6% | 5.9% | 6.7% | · | 5.2% | 6.0% | |
| ROE | · | · | 9.3% | 10.5% | 12.9% | · | 11.1% | 11.5% | 14.5% | · | 12.6% | 15.7% | 18.4% | · | 14.1% | 16.2% | |
| ROIC | · | · | 7.4% | 9.0% | 12.5% | · | 9.5% | 10.6% | 13.4% | · | 11.1% | 14.5% | 16.9% | · | 14.2% | 16.7% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | · | 1.3 | 1.4 | 1.7 | · | 1.6 | 1.8 | 1.8 | · | 1.5 | 1.7 | 1.6 | · | 1.6 | 1.6 | |
| Quick Ratio | · | · | 0.2 | 0.2 | 0.4 | · | 0.2 | 0.4 | 0.5 | · | 0.2 | 0.4 | 0.5 | · | 0.3 | 0.4 | |
| Debt / Equity | · | · | 0.2 | 0.1 | · | · | 0.1 | · | · | · | 0.1 | · | · | · | · | · |
Efficiency 2
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | 0.4 | 0.5 | 0.5 | · | 0.4 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.4 | 0.5 | |
| Receivables Turnover | · | · | 12.7 | 13.1 | 13.3 | · | 12.1 | 13.6 | 13.8 | · | 12.3 | 14.3 | 13.8 | · | 12.7 | 13.7 |
Valuation (TTM) 13
| Metric | Trend | Q2 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $11.66B | · | $11.02B | $10.72B | $10.66B | · | $10.30B | $10.30B | $10.38B | · | $9.99B | $9.80B | $9.62B | · | $8.98B | $8.61B | |
| Net Income TTM | $1.14B | · | $1.04B | $1.06B | $1.11B | · | $1.06B | $1.12B | $1.21B | · | $1.17B | $1.22B | $1.25B | · | $1.12B | $1.09B | |
| Market Cap | · | · | $23.14B | $22.78B | $17.83B | · | $17.59B | $16.13B | $19.01B | · | $18.48B | $21.98B | $27.53B | · | $21.24B | $19.96B | |
| Enterprise Value | · | · | $23.48B | $22.83B | · | · | $17.61B | · | · | · | $18.56B | · | · | · | · | · | |
| P/E | 21.0 | · | 22.8 | 22.2 | 16.8 | · | 17.2 | 14.9 | 16.3 | · | 16.3 | 18.6 | 22.8 | · | 19.6 | 19.0 | |
| P/S | · | · | 2.1 | 2.1 | 1.7 | · | 1.7 | 1.6 | 1.8 | · | 1.8 | 2.2 | 2.9 | · | 2.4 | 2.3 | |
| P/B | · | · | 8.8 | 8.8 | 7.3 | · | 7.6 | 6.9 | 8.3 | · | 9.1 | 10.7 | 13.6 | · | 11.0 | 11.3 | |
| P / Tangible Book | · | · | 10.3 | 10.3 | 7.4 | · | 7.6 | 6.9 | 8.3 | · | 9.2 | 10.8 | 13.7 | · | 11.1 | 11.4 | |
| P / Cash Flow | · | · | · | · | 81.0 | · | · | · | 119.3 | · | · | · | 90.3 | · | · | · | |
| P / FCF | · | · | · | · | 126.4 | · | · | · | 278.3 | · | · | · | 141.1 | · | · | · | |
| EV / EBITDA | · | · | 61.0 | 54.9 | · | · | 55.3 | · | · | · | 56.7 | · | · | · | · | · | |
| EV / Revenue | · | · | 2.1 | 2.1 | · | · | 1.7 | · | · | · | 1.9 | · | · | · | · | · | |
| Earnings Yield | 4.8% | · | 4.4% | 4.5% | 6.0% | · | 5.8% | 6.7% | 6.2% | · | 6.1% | 5.4% | 4.4% | · | 5.1% | 5.3% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2026-01-31 | 2025-05-03 | 2025-02-01 | 2024-11-02 | 2024-08-03 | |
|---|---|---|---|---|---|
| Revenue | $12.39B | — | $11.30B | — | — |
| Gross Margin % | 39.1% | — | 38.8% | — | — |
| Operating Margin % | 12.4% | — | 13.9% | — | — |
| Net Income | $1.15B | — | $1.20B | — | — |
| Diluted EPS | $25.64 | — | $25.34 | — | — |
Balance Sheet
| 2026-01-31 | 2025-05-03 | 2025-02-01 | 2024-11-02 | 2024-08-03 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | — | — | — | — |
| Current Ratio | 1.4 | — | 1.7 | — | — |
| Quick Ratio | 0.4 | — | 0.5 | — | — |
Cash Flow
| 2026-01-31 | 2025-05-03 | 2025-02-01 | 2024-11-02 | 2024-08-03 | |
|---|---|---|---|---|---|
| Free Cash Flow | $1.07B | — | $964M | — | — |
Latest News Recent headlines mentioning this company
- What Does the Ultra Clean CFO's Sale of Company Shares Worth $1.3 Million Mean for Investors?
- Ulta Beauty Q1 Earnings Call Highlights
- Ulta Beauty vs. The Estée Lauder Companies: Which Consumer Stock Is a Better Buy in 2026?
- Bank of America Upgrades Ulta Beauty (ULTA) Stock
- Ulta Beauty CEO Steelman Touts Strategy Reset; New CFO Targets SG&A Discipline, $1.5B Buybacks
- Jim Cramer Highlights Ulta Beauty For Its Strong High End Sales Despite A Recent Earnings Miss
- Ulta Beauty Stock: Is ULTA Underperforming the Consumer Discretionary Sector?
- Should You Buy the Dip in Ulta Stock?
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Institutional owners (13F) 1,142 filers · $12.7B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 108 (-42 vs prior Q) | 161 (+32 vs prior Q) | 318 (-71 vs prior Q) | 436 (+30 vs prior Q) | +6.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $1,283,301,923 | 2,845,585 | 10.09% | Shares |
| Sanders Capital, LLC | $1,109,847,800 | 2,460,969 | 8.72% | Shares |
| STATE STREET CORP | $913,064,481 | 2,024,623 | 7.18% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $875,993,925 | 1,942,423 | 6.88% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $491,335,384 | 1,092,492 | 3.86% | Shares |
| NORGES BANK | $354,093,712 | 785,165 | 2.78% | Shares |
| Alyeska Investment Group, L.P. | $243,060,632 | 538,961 | 1.91% | Shares |
| Swedbank AB | $233,546,757 | 517,865 | 1.84% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $195,099,698 | 432,613 | 1.53% | Shares |
| CITADEL ADVISORS LLC | $181,699,842 | 402,900 | 1.43% | Call option |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $165,310,327 | 366,558 | 1.30% | Shares |
| GOLDMAN SACHS GROUP INC | $156,233,044 | 346,430 | 1.23% | Shares |
| JANE STREET GROUP, LLC | $151,754,770 | 336,500 | 1.19% | Call option |
| TD Asset Management Inc | $138,495,958 | 307,100 | 1.09% | Shares |
| Alecta Tjanstepension Omsesidigt | $129,116,343 | 286,505 | 1.01% | Shares |
| BANK OF AMERICA CORP /DE/ | $123,595,579 | 274,060 | 0.97% | Shares |
| Robeco Institutional Asset Management B.V. | $117,593,038 | 260,750 | 0.92% | Shares |
| ALLIANCEBERNSTEIN L.P. | $112,089,932 | 214,440 | 0.88% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $110,901,845 | 245,913 | 0.87% | Shares |
| CITADEL ADVISORS LLC | $107,694,024 | 238,800 | 0.85% | Put option |
| Qube Research & Technologies Ltd | $105,304,281 | 233,501 | 0.83% | Shares |
| AMERICAN CENTURY COMPANIES INC | $105,085,782 | 233,016 | 0.83% | Shares |
| Pictet Asset Management Holding SA | $101,293,729 | 224,607 | 0.80% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $96,406,614 | 213,675 | 0.76% | Shares |
| Epoch Investment Partners, Inc. | $95,041,780 | 210,745 | 0.75% | Shares |
| Squarepoint Ops LLC | $91,909,724 | 203,800 | 0.72% | Call option |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $83,535,927 | 185,232 | 0.66% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $80,175,224 | 177,780 | 0.63% | Shares |
| Candlestick Capital Management LP | $71,132,722 | 130,101 | 0.56% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $70,382,645 | 156,066 | 0.55% | Shares |
| SUMMITRY LLC | $68,056,350 | 150,908 | 0.53% | Shares |
| EARNEST PARTNERS LLC | $62,950,494 | 139,586 | 0.49% | Shares |
| Rathbones Group PLC | $60,098,496 | 133,262 | 0.47% | Shares |
| Gotham Asset Management, LLC | $58,723,910 | 130,214 | 0.46% | Shares |
| Legal & General Group Plc | $58,250,834 | 129,165 | 0.46% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $57,408,852 | 127,298 | 0.45% | Shares |
| UBS Group AG | $56,952,460 | 126,286 | 0.45% | Shares |
| Swiss National Bank | $55,632,893 | 123,360 | 0.44% | Shares |
| Quantinno Capital Management LP | $55,562,010 | 123,202 | 0.44% | Shares |
| Smead Capital Management, Inc. | $53,204,621 | 117,976 | 0.42% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $50,677,074 | 112,371 | 0.40% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $49,001,232 | 108,655 | 0.39% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $48,497,602 | 80,160 | 0.38% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $47,080,057 | 104,395 | 0.37% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $46,657,489 | 103,458 | 0.37% | Shares |
| BlackRock, Inc. | $46,337,293 | 102,748 | 0.36% | Shares |
| KEYBANK NATIONAL ASSOCIATION/OH | $46,332,601 | 102,737 | 0.36% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $45,482,235 | 100,852 | 0.36% | Shares |
| Assenagon Asset Management S.A. | $44,513,079 | 98,703 | 0.35% | Shares |
| Zuckerman Investment Group, LLC | $44,206,864 | 98,024 | 0.35% | Shares |
| JANE STREET GROUP, LLC | $43,519,570 | 96,500 | 0.34% | Put option |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $42,718,179 | 94,723 | 0.34% | Shares |
| Vanguard Global Advisers, LLC | $42,359,198 | 93,927 | 0.33% | Shares |
| Balyasny Asset Management L.P. | $41,878,454 | 92,861 | 0.33% | Shares |
| UBS Group AG | $41,490,160 | 92,000 | 0.33% | Put option |
| HUNTINGTON NATIONAL BANK | $40,424,156 | 89,635 | 0.32% | Shares |
| OSSIAM | $39,583,417 | 87,772 | 0.31% | Shares |
| Caisse de depot et placement du Quebec | $39,540,573 | 87,677 | 0.31% | Shares |
| BARCLAYS PLC | $39,385,888 | 87,334 | 0.31% | Shares |
| AMERIPRISE FINANCIAL INC | $38,878,085 | 86,208 | 0.31% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $38,663,417 | 85,732 | 0.30% | Shares |
| RHUMBLINE ADVISERS | $37,525,421 | 83,209 | 0.29% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $37,504,972 | 76,784 | 0.29% | Shares |
| WOLVERINE TRADING, LLC | $37,153,941 | 67,100 | 0.29% | Call option |
| NORDEA INVESTMENT MANAGEMENT AB | $36,773,437 | 82,387 | 0.29% | Shares |
| California Public Employees Retirement System | $36,390,478 | 80,692 | 0.29% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $35,212,359 | 67,365 | 0.28% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $34,418,793 | 76,320 | 0.27% | Shares |
| Freestone Grove Partners LP | $34,318,676 | 76,098 | 0.27% | Shares |
| UBS Group AG | $33,056,834 | 73,300 | 0.26% | Call option |
| Heron Bay Capital Management | $32,371,344 | 71,780 | 0.25% | Shares |
| BARCLAYS PLC | $31,568,600 | 70,000 | 0.25% | Call option |
| CIBC Private Wealth Group LLC | $31,407,507 | 57,444 | 0.25% | Shares |
| PFA Pension, Forsikringsaktieselskab | $30,936,730 | 68,599 | 0.24% | Shares |
| WOLVERINE TRADING, LLC | $30,564,792 | 55,200 | 0.24% | Put option |
| Rokos Capital Management LLP | $30,465,516 | 67,584 | 0.24% | Shares |
| Capula Management Ltd | $29,313,700 | 65,000 | 0.23% | Put option |
| Capula Management Ltd | $29,313,700 | 65,000 | 0.23% | Shares |
| PRIMECAP MANAGEMENT CO/CA/ | $27,509,780 | 61,000 | 0.22% | Shares |
| STRS OHIO | $27,361,859 | 60,672 | 0.22% | Shares |
| LPL Financial LLC | $27,344,599 | 60,634 | 0.21% | Shares |
| SEI INVESTMENTS CO | $26,999,270 | 59,868 | 0.21% | Shares |
| Eagle Ridge Investment Management | $26,850,404 | 61,735 | 0.21% | Shares |
| AMF Tjanstepension AB | $26,719,212 | 59,247 | 0.21% | Shares |
| HighTower Advisors, LLC | $26,618,253 | 59,023 | 0.21% | Shares |
| Carnegie Investment Counsel | $26,146,636 | 60,845 | 0.21% | Shares |
| CIBC WORLD MARKETS CORP | $25,923,468 | 42,848 | 0.20% | Shares |
| Arbejdsmarkedets Tillaegspension | $25,092,527 | 55,640 | 0.20% | Shares |
| Candriam S.C.A. | $24,322,281 | 53,984 | 0.19% | Shares |
| MARSHALL WACE, LLP | $24,296,548 | 53,875 | 0.19% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $23,791,879 | 52,756 | 0.19% | Shares |
| DISCOVERY CAPITAL MANAGEMENT, LLC / CT | $23,450,960 | 52,000 | 0.18% | Shares |
| Advisors Capital Management, LLC | $22,920,729 | 50,824 | 0.18% | Shares |
| Point72 Asset Management, L.P. | $21,962,726 | 48,700 | 0.17% | Put option |
| Korea Investment CORP | $21,318,727 | 47,272 | 0.17% | Shares |
| RENAISSANCE GROUP LLC | $20,379,763 | 45,190 | 0.16% | Shares |
| ING GROEP NV | $20,184,061 | 44,756 | 0.16% | Shares |
| WELLS FARGO & COMPANY/MN | $19,950,002 | 44,237 | 0.16% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $19,904,453 | 44,136 | 0.16% | Shares |
| Vinva Investment Management Ltd | $19,594,323 | 42,678 | 0.15% | Shares |
Company insiders 45 insiders · 18 officers · 25 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Kecia Steelman | President and CEO | March 31, 2026 A | 42,489 | 0 | 0 | $0 |
| David C Kimbell | Chief Executive Officer | March 29, 2024 A | 45,736 | 0 | 0 | $0 |
| Mary N Dillon | Chief Executive Officer | July 1, 2018 F | 98,935 | 0 | 0 | $0 |
| Carl Rubin | President and CEO | Sept. 12, 2012 M | 11,728 | 0 | 0 | $0 |
| Christopher Delorefice | Chief Financial Officer | March 31, 2026 A | 9,693 | 0 | 0 | $0 |
| Paula M Oyibo | Chief Financial Officer | March 31, 2025 A | 5,758 | 0 | 0 | $0 |
| Scott M Settersten | Chief Financial Officer | March 15, 2024 F | 15,508 | 0 | 0 | $0 |
| Bruce L Hartman | Chief Financial Officer | Sept. 12, 2012 A | 10,112 | 0 | 0 | $0 |
| Gregg R Bodnar | Chief Financial Officer | June 8, 2012 M | 0 | 0 | 0 | $0 |
| Christopher Lialios | SVP, Controller (P. Acct Ofc.) | March 31, 2026 A | 3,550 | 0 | 0 | $0 |
| Anita Jane Ryan | Chief Human Resources Officer | March 31, 2026 A | 9,141 | 0 | 0 | $0 |
| Rene G. Casares | Chief Legal Officer | March 31, 2026 A | 3,116 | 0 | 0 | $0 |
| Jodi J Caro | GC, Chief Risk & Compl. Ofc. | April 1, 2025 M | 7,632 | 0 | 0 | $0 |
| Jeffrey J Childs | Chief Human Resources Officer | June 11, 2018 M | 10,534 | 0 | 0 | $0 |
| Robert S Guttman | Senior Vice President, General Counsel & Secretary | May 8, 2015 F | 34,724 | 0 | 0 | $0 |
| Janet Taake | Chief Merchandising Officer | March 23, 2015 F | 8,082 | 0 | 0 | $0 |
| Jeffrey T. Severts | Sr. VP - Marketing | March 19, 2014 M | 11,487 | 0 | 0 | $0 |
| Wayne D Lheureux | SVP Human Resources | Sept. 29, 2010 M | 20,000 | 0 | 0 | $0 |
| George R Mrkonic JR | Director | June 15, 2026 S | 2,404 | 0 | 2 | $-426,006 |
| Stephenie Lee Landry | Director | June 10, 2026 A | 681 | 0 | 0 | $0 |
| Kelly E Garcia | Director | June 10, 2026 A | 2,150 | 0 | 0 | $0 |
| Gisel Ruiz | Director | June 10, 2026 A | 1,363 | 0 | 0 | $0 |
| Mike C. Smith | Director | June 10, 2026 A | 2,667 | 0 | 1 | $-264,215 |
| Catherine Ann Halligan | Director | June 10, 2026 A | 2,464 | 0 | 0 | $0 |
| Patricia A Little | Director | June 10, 2026 A | 1,765 | 0 | 0 | $0 |
| Lorna Nagler | Director | June 10, 2026 A | 7,768 | 0 | 0 | $0 |
| Martin Brok | Director | June 10, 2026 A | 1,681 | 0 | 0 | $0 |
| Heidi G Petz | Director | June 11, 2025 A | 1,395 | 0 | 0 | $0 |
| COLLINS MICHELLE L | Director | June 11, 2025 A | 3,334 | 0 | 0 | $0 |
| Michael R Macdonald | Director | June 11, 2024 A | 1,869 | 0 | 0 | $0 |
| Dennis K Eck | Director | June 22, 2018 S | 375,294 | 0 | 0 | $0 |
| Charles J Philippin | Director | June 12, 2018 S | 90,923 | 0 | 0 | $0 |
| Vanessa Ames Wittman | Director | June 8, 2018 S | 2,785 | 0 | 0 | $0 |
| Sally E. Blount | Director | June 6, 2018 A | 859 | 0 | 0 | $0 |
| Robert F Diromualdo | Director | June 6, 2018 A | 5,304 | 0 | 0 | $0 |
| Charles Heilbronn | Director | June 6, 2018 A | 59,923 | 0 | 0 | $0 |
| Kenneth T Stevens | Director | Sept. 17, 2013 A | 2,959 | 0 | 0 | $0 |
| Herve Defforey | Director | Sept. 29, 2011 S | 202,612 | 0 | 0 | $0 |
| Lynelle P Kirby | Director | Jan. 6, 2011 M | 870,723 | 0 | 0 | $0 |
| Yves Sisteron | Director | June 16, 2010 S | 0 | 0 | 0 | $0 |
| Steven E Lebow | Director | June 8, 2009 J | 82,490 | 0 | 0 | $0 |
| Terry J Hanson | Director | Oct. 30, 2007 C | 775,672 | 0 | 0 | $0 |
| GRP II, L.P. | 10% owner | Dec. 22, 2009 J | 0 | 0 | 0 | $0 |
| CREDIT SUISSE/ | 10% owner | Oct. 30, 2007 C | 5,162,556 | 0 | 0 | $0 |
| Gerald R Gallagher | — | July 10, 2009 J | 459,350 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 209 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ZIG · ETF Series Solutions | 3.24% | 1,976 NS | April 30, 2026 | N-PORT |
| BUL · Pacer Funds Trust | 3.00% | 7,085 NS | April 30, 2026 | N-PORT |
| RSPD · Invesco Exchange-Traded Fund Trust | 2.36% | 13,996 SH | Aug. 8, 2026 | Daily |
| NUMG · Nushares ETF Trust | 2.15% | 14,160 NS | April 30, 2026 | N-PORT |
| POWA · Invesco Exchange-Traded Self-Indexe… | 2.14% | 6,930 SH | Aug. 8, 2026 | Daily |
| EPMB · Harbor ETF Trust | 1.67% | 140 NS | April 30, 2026 | N-PORT |
| CARK · Advisors' Inner Circle Fund II | 1.35% | 7,790 NS | April 30, 2026 | N-PORT |
| BOBP · EXCHANGE TRADED CONCEPTS TRUST | 1.23% | 41 NS | April 30, 2026 | N-PORT |
| RNIN · EA Series Trust | 1.20% | 3,404 NS | April 30, 2026 | N-PORT |
| QQQJ · Invesco Exchange-Traded Fund Trust … | 1.19% | 24,860 SH | Aug. 8, 2026 | Daily |
| TMFX · RBB Fund, Inc. | 1.14% | 718 NS | May 31, 2026 | N-PORT |
| IEDI · iShares U.S. ETF Trust | 1.02% | 537 SH | Aug. 8, 2026 | Daily |
| RPG · Invesco Exchange-Traded Fund Trust | 0.94% | 33,819 SH | Aug. 8, 2026 | Daily |
| AGRW · ALLSPRING EXCHANGE-TRADED FUNDS TRU… | 0.91% | 1,796 NS | April 30, 2026 | N-PORT |
| FXD · First Trust Exchange-Traded AlphaDE… | 0.85% | 4,180 NS | April 30, 2026 | N-PORT |
| RETL · Direxion Shares ETF Trust | 0.82% | 479 NS | April 30, 2026 | N-PORT |
| JOET · Virtus ETF Trust II | 0.79% | 3,466 NS | April 30, 2026 | N-PORT |
| NULG · Nushares ETF Trust | 0.78% | 37,666 NS | April 30, 2026 | N-PORT |
| TAX · EA Series Trust | 0.76% | 381 NS | May 29, 2026 | N-PORT |
| LOWV · AB Active ETFs, Inc. | 0.73% | 2,922 NS | May 31, 2026 | N-PORT |
| OASC · Unified Series Trust | 0.72% | 1,183 NS | May 31, 2026 | N-PORT |
| FLRG · FIDELITY COVINGTON TRUST | 0.71% | 3,716 NS | April 30, 2026 | N-PORT |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.69% | 8,485 NS | May 31, 2026 | N-PORT |
| HQGO · Lattice Strategies Trust | 0.53% | 471 NS | April 30, 2026 | N-PORT |
| ROUS · Lattice Strategies Trust | 0.52% | 5,686 NS | April 30, 2026 | N-PORT |
| QUAL · iShares Trust | 0.50% | 446,180 SH | Aug. 8, 2026 | Daily |
| VLLU · Harbor ETF Trust | 0.49% | 40 NS | April 30, 2026 | N-PORT |
| SXQG · EXCHANGE TRADED CONCEPTS TRUST | 0.48% | 641 NS | May 31, 2026 | N-PORT |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.48% | 11,281 NS | April 30, 2026 | N-PORT |
| KRMA · Global X Funds | 0.44% | 1,047 NS | May 31, 2026 | N-PORT |
| AVLV · AMERICAN CENTURY ETF TRUST | 0.43% | 109,325 NS | May 31, 2026 | N-PORT |
| VOT · VANGUARD INDEX FUNDS | 0.43% | 333,724 SH | Aug. 8, 2026 | Daily |
| IYC · iShares Trust | 0.39% | 8,672 SH | Aug. 8, 2026 | Daily |
| SZNE · Pacer Funds Trust | 0.38% | 95 NS | April 30, 2026 | N-PORT |
| FDIS · FIDELITY COVINGTON TRUST | 0.38% | 12,482 NS | April 30, 2026 | N-PORT |
| FCPI · FIDELITY COVINGTON TRUST | 0.38% | 1,901 NS | April 30, 2026 | N-PORT |
| TMFE · RBB Fund, Inc. | 0.36% | 596 NS | May 31, 2026 | N-PORT |
| WANT · Direxion Shares ETF Trust | 0.36% | 136 NS | April 30, 2026 | N-PORT |
| FLCV · Federated Hermes ETF Trust | 0.35% | 671 NS | May 31, 2026 | N-PORT |
| GXPD · Global X Funds | 0.35% | 343 NS | May 31, 2026 | N-PORT |
| RXI · iShares Trust | 0.35% | 1,790 SH | Aug. 8, 2026 | Daily |
| AKAF · ETF Series Solutions | 0.35% | 20 NS | May 31, 2026 | N-PORT |
| VFQY · VANGUARD WELLINGTON FUND | 0.34% | 3,607 SH | Aug. 8, 2026 | Daily |
| VCR · VANGUARD WORLD FUND | 0.34% | 51,672 SH | Aug. 8, 2026 | Daily |
| FDMO · FIDELITY COVINGTON TRUST | 0.33% | 5,205 NS | April 30, 2026 | N-PORT |
| UCC · ProShares Trust | 0.33% | 75 NS | May 31, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.32% | 1,735 NS | May 29, 2026 | N-PORT |
| GQQQ · EA Series Trust | 0.31% | 896 NS | May 29, 2026 | N-PORT |
| FLCG · Federated Hermes ETF Trust | 0.30% | 3,347 NS | May 31, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.28% | 2,227 NS | May 31, 2026 | N-PORT |