Ulta Beauty (ULTA) FY2019 results: revenue $7.4 billion, up 10.1% on the year
Ulta Beauty, Inc. (ULTA) reported revenue of $7.4 billion for fiscal 2019, the year ended 1 February 2020, up 10.1% on the year before. Net income was $706 million, up 7.2%, and diluted earnings per share $12.15. The figures are the company's own, from the 10-K it filed with the SEC on 27 March 2020.
Revenue
$7.4 billion
+10.1% on the year
FY2012FY2019
Operating margin
12.2%
12.7% a year earlier
FY2012FY2019
Net income
$706 million
+7.2% on the year
FY2012FY2019
Diluted EPS
$12.15
+11.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
7,398
6,717
5,885
+10.1%
Cost of revenue
4,717
4,307
3,788
+9.5%
Gross profit
2,681
2,409
2,097
+11.3%
Gross margin
36.2%
35.9%
35.6%
Selling, general and administrative
1,761
1,535
1,287
+14.7%
Operating income
901
854
785
+5.5%
Operating margin
12.2%
12.7%
13.3%
Pre-tax income
906
859
787
+5.5%
Income tax
200
201
232
-0.2%
Effective tax rate
22.1%
23.3%
29.4%
Net income
706
659
555
+7.2%
Net margin
9.5%
9.8%
9.4%
Diluted EPS
$12.15
$10.94
$8.96
+11.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,101
956
779
+15.2%
Capital expenditure
299
319
441
-6.5%
Free cash flow
803
637
339
+26.1%
Free cash flow margin
10.9%
9.5%
5.8%
Cash from investing
-471
-215
-531
Cash from financing
-647
-609
-356
Depreciation and amortisation
296
279
253
+5.8%
Share-based compensation
25.6
27.5
24.4
-6.7%
Buybacks
681
616
368
+10.5%
Diluted shares, weighted
58m
60m
62m
-3.4%
Shares outstanding at period end
57m
59m
61m
-3.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,902
1,820
1,774
+4.5%
Debt
0.0
0.0
0.0
Operating lease liabilities
1,699
n/a
n/a
Other liabilities
1,263
1,371
1,134
-7.9%
Total liabilities and equity
4,864
3,191
2,909
+52.4%
Fixed assets
1,206
1,226
1,189
-1.7%
Goodwill
10.9
10.9
0.0
0.0%
Intangible assets
3.4
4.3
n/a
-21.5%
Investments
110
0.0
120
Cash and equivalents
392
409
277
-4.1%
Receivables
139
136
99.7
+2.3%
Other assets
3,002
1,405
1,222
+113.8%
Total assets
4,864
3,191
2,909
+52.4%
10-K for the year ended 1 February 2020, filed 27 March 2020: the filing.