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Ulta Beauty Inc  (NAS:ULTA) Net Income: $470 Mil (TTM As of Jul. 2017)

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax. Ulta Beauty Inc's net income for the three months ended in Jul. 2017 was $114 Mil. Its net income for the trailing twelve months (TTM) ended in Jul. 2017 was $470 Mil.

Net Income is linked to the most popular Earnings per Share (Diluted) number. Ulta Beauty Inc's Earnings per Share (Diluted) for the three months ended in Jul. 2017 was $1.83.


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Ulta Beauty Inc Annual Data

Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17
Net Income Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 172.55 202.85 257.14 320.01 409.76

Ulta Beauty Inc Quarterly Data

Oct12 Jan13 Apr13 Jul13 Oct13 Jan14 Apr14 Jul14 Oct14 Jan15 Apr15 Jul15 Oct15 Jan16 Apr16 Jul16 Oct16 Jan17 Apr17 Jul17
Net Income Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 90.00 87.56 140.22 128.22 114.19

Calculation

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax.

Net Income
= Revenue - Cost of Goods Sold - Selling, General, & Admin. Expense - Research & Development - Depreciation, Depletion and Amortization - Interest Expense - Non-Recurring Items (NRI) - Tax Expense + Others
= - Depreciation, Depletion and Amortization - Interest Expense - Non-Recurring Items (NRI) - Tax Expense + Others
= Operating Income - Interest Expense - Non-Recurring Items (NRI) - Tax Expense + Others
= Pre-Tax Income - Tax Expense + Others

Ulta Beauty Inc's Net Income for the fiscal year that ended in Jan. 2017 is calculated as

Net Income(A: Jan. 2017 )
= Pre-Tax Income + Tax Provision + Other Income (Expense) + Net Income (Discontinued Operations)
=655.714+-245.954+1.78+0
=412

Ulta Beauty Inc's Net Income for the quarter that ended in Jul. 2017 is calculated as

Net Income(Q: Jul. 2017 )
= Pre-Tax Income + Tax Provision + Other Income (Expense) + Net Income (Discontinued Operations)
=180.355+-66.162+-2.84217094304E-14+0
=114

Net Income for the trailing twelve months (TTM) ended in Jul. 2017 was 87.562 (Oct. 2016 ) + 140.218 (Jan. 2017 ) + 128.223 (Apr. 2017 ) + 114.193 (Jul. 2017 ) = $470 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

Net income is the most widely cited number in reporting a company's profitability. It is linked to the most popular earnings-per-share (EPS) number through:

Ulta Beauty Inc's Earnings per Share (Diluted) (EPS) for the quarter that ended in Jul. 2017 is calculated as

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.

EPS is most useful for companies that have:

A predictable business
Consistent accounting methods
And few restructurings

The dividend paid to preferred stocks needs to be subtracted from the total net income in the calculation of EPS because common stock holders are not entitled to that part of the net income.


Be Aware

Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred net income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.

Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.

If net earnings is less than 10%, likely to be in a highly competitive business.


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