Ulta Beauty (ULTA) FY2020 results: revenue $6.2 billion, down 16.8% on the year
Ulta Beauty, Inc. (ULTA) reported revenue of $6.2 billion for fiscal 2020, the year ended 30 January 2021, down 16.8% on the year before. Net income was $176 million, down 75.1%, and diluted earnings per share $3.11. The figures are the company's own, from the 10-K it filed with the SEC on 26 March 2021.
Revenue
$6.2 billion
-16.8% on the year
FY2013FY2020
Operating margin
3.8%
12.2% a year earlier
FY2013FY2020
Net income
$176 million
-75.1% on the year
FY2013FY2020
Diluted EPS
$3.11
-74.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
6,152
7,398
6,717
-16.8%
Cost of revenue
4,203
4,717
4,307
-10.9%
Gross profit
1,949
2,681
2,409
-27.3%
Gross margin
31.7%
36.2%
35.9%
Selling, general and administrative
1,583
1,761
1,535
-10.1%
Operating income
237
901
854
-73.7%
Operating margin
3.8%
12.2%
12.7%
Interest expense
5.7
n/a
n/a
Pre-tax income
231
906
859
-74.5%
Income tax
55.2
200
201
-72.4%
Effective tax rate
23.9%
22.1%
23.3%
Net income
176
706
659
-75.1%
Net margin
2.9%
9.5%
9.8%
Diluted EPS
$3.11
$12.15
$10.94
-74.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
810
1,101
956
-26.4%
Capital expenditure
152
299
319
-49.1%
Free cash flow
658
803
637
-18.0%
Free cash flow margin
10.7%
10.9%
9.5%
Cash from investing
-48.8
-471
-215
Cash from financing
-108
-647
-609
Depreciation and amortisation
298
296
279
+0.7%
Share-based compensation
27.6
25.6
27.5
+7.6%
Buybacks
115
681
616
-83.1%
Diluted shares, weighted
57m
58m
60m
-2.7%
Shares outstanding at period end
56m
57m
59m
-0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,000
1,902
1,820
+5.1%
Debt
0.0
0.0
0.0
Operating lease liabilities
1,643
1,699
n/a
-3.3%
Other liabilities
1,447
1,263
1,371
+14.6%
Total liabilities and equity
5,090
4,864
3,191
+4.6%
Fixed assets
996
1,206
1,226
-17.4%
Goodwill
10.9
10.9
10.9
0.0%
Intangible assets
2.5
3.4
4.3
-27.3%
Investments
0.0
110
0.0
Cash and equivalents
1,046
392
409
+166.6%
Receivables
193
139
136
+38.6%
Other assets
2,842
3,002
1,405
-5.4%
Total assets
5,090
4,864
3,191
+4.6%
10-K for the year ended 30 January 2021, filed 26 March 2021: the filing.