Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Ulta Beauty's Enterprise Value is €20,314 Mil.
Ulta Beauty's EBIT for the trailing twelve months (TTM) ended in Apr. 2026 was €1,362 Mil. Therefore, Ulta Beauty's EV-to-EBIT ratio for today is 14.92.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, Ulta Beauty's Enterprise Value is €20,314 Mil.
Ulta Beauty's EBITDA for the trailing twelve months (TTM) ended in Apr. 2026 was €1,627 Mil. Therefore, Ulta Beauty's EV-to-EBITDA ratio for today is 12.48.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, Ulta Beauty's Enterprise Value is €20,314 Mil.
Ulta Beauty's Revenue for the trailing twelve months (TTM) ended in Apr. 2026 was €10,867 Mil. Therefore, Ulta Beauty's EV-to-Revenue ratio for today is 1.87.
EV-to-FCF is calculated as Enterprise Value divided by its Free Cash Flow. As of today, Ulta Beauty's Enterprise Value is €20,314 Mil.
Ulta Beauty's Free Cash Flow for the trailing twelve months (TTM) ended in Apr. 2026 was €962 Mil. Therefore, Ulta Beauty's EV-to-FCF ratio for today is 21.11.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
Ulta Beauty (FRA:34U) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
Ulta Beauty's current Enterprise Value is €20,314 Mil.
Ulta Beauty's EBIT for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,362 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
Ulta Beauty's current Enterprise Value is €20,314 Mil.
Ulta Beauty's EBITDA for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,627 Mil.
Ulta Beauty's current Enterprise Value is €20,314 Mil.
Ulta Beauty's Revenue for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €10,867 Mil.
Ulta Beauty's current Enterprise Value is €20,314 Mil.
Ulta Beauty's Cash Flow from Operations for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,316 Mil.
Ulta Beauty's current Enterprise Value is €20,314 Mil.
Ulta Beauty's Free Cash Flow for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €962 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Ulta Beauty Enterprise Value Related Terms
Ulta Beauty Enterprise Value Historical Data
* Premium members only.
The historical data trend for Ulta Beauty's Enterprise Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:34U vs WSM, DKS, TSCO: Enterprise Value Comparison
For the Specialty Retail subindustry, Ulta Beauty's Enterprise Value, along with its competitors' market caps and Enterprise Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ulta Beauty Enterprise Value vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Ulta Beauty's Enterprise Value distribution charts can be found below:
* The bar in red indicates where Ulta Beauty's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
Ulta Beauty's Enterprise Value for the fiscal year that ended in Jan. 2026 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Ulta Beauty (FRA:34U) has a Enterprise Value of €20,314 Mil as of Jun. 27, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Ulta Beauty and its competitors.
Is Ulta Beauty's Enterprise Value too high?
Ulta Beauty's current Enterprise Value is €20,314 Mil. Overall, Ulta Beauty has a GF Score™ of 96/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ulta Beauty's Enterprise Value compare to WSM and DKS?
Ulta Beauty's Enterprise Value of €20,314 Mil can be compared against companies in the Retail - Cyclical industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for a Retail - Cyclical company?
A good Enterprise Value depends on the Retail - Cyclical industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on Ulta Beauty and its competitors. Ulta Beauty's current Enterprise Value is €20,314 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ulta Beauty stock overvalued right now?
Based on GuruFocus' analysis, Ulta Beauty (FRA:34U) is currently considered Modestly Undervalued. The stock's GF Value™ is €477.96, compared to a current price of €418.60 — trading 12.4% below its estimated fair value. The current Enterprise Value is €20,314 Mil. Ulta Beauty's overall GF Score™ is 96/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For Ulta Beauty (FRA:34U), the current Enterprise Value is €20,314 Mil as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ulta Beauty (FRA:34U) Overvalued in 2026?
Based on GuruFocus' analysis, Ulta Beauty stock appears to be undervalued.
The current stock price of €418.60 is trading 12.4% below its estimated GF Value™ of €477.96.
GuruFocus considers Ulta Beauty to be Modestly Undervalued.
Key valuation signals for FRA:34U:
Enterprise Value: €20,314 Mil
GF Value™: €477.96 vs. price of €418.60 (12.4% below fair value)
No single metric tells the full story. See the FRA:34U stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ulta Beauty is the largest specialized beauty retailer in the US with more than 1,500 freestanding stores. The firm offers cosmetics (38% of 2025 sales), fragrances (13%), skin care (24%), and hair care products (19%). It also has salon services, including hair, makeup, skin, and brow, that account for 4% of its revenue and drive customer traffic. Outside of the US, Ulta operates premium beauty retailer Space NK (86 stores at year-end 2025 in the UK and Ireland) and has franchised stores in Mexico, and a joint venture in the Middle East. Ulta was founded in 1990 and is based in Bolingbrook, Illinois.
96GF Score
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