Ulta BeautyMEX:ULTA +6.34%84 Net Margin % is 10.76% as of Apr. 2026, which is 11% above its 10-year median of 9.67. GuruFocus rates MEX:ULTA with a GF Score™ of 84/100 and a GF Value™ of MXN9,867.21 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,128 Retail - Cyclical companies, Ulta Beauty ranks better than 84.31% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Ulta Beauty's Net Income for the
three
months ended in Apr. 2026 was MXN5,964 Mil. Ulta Beauty's Revenue for the
three
months ended in Apr. 2026 was MXN55,418 Mil. Therefore, Ulta Beauty's net margin for the quarter that ended in Apr. 2026 was 10.76%.
The historical rank and industry rank for Ulta Beauty's Net Margin % or its related term are showing as below:
MEX:ULTA'
s Net Margin % Range Over the Past 10 Years
Min: 2.86 Med: 9.67 Max: 12.17
Current: 9.36
MEX:ULTA's Net Margin % is ranked better than 84.31% of 1128
companies
in the Retail - Cyclical industry
Industry Median: 2.33
vs MEX:ULTA: 9.36
Ulta Beauty (MEX:ULTA) Net Margin % Explanation
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.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Ulta Beauty Net Margin % Related Terms
Ulta Beauty Net Margin % Historical Data
* Premium members only.
The historical data trend for Ulta Beauty's Net Margin % 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.
MEX:ULTA vs WSM, DKS, TSCO: Net Margin % Comparison
For the Specialty Retail subindustry, Ulta Beauty's Net Margin %, along with its competitors' market caps and Net Margin % 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 Net Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Ulta Beauty's Net Margin % distribution charts can be found below:
* The bar in red indicates where Ulta Beauty's Net Margin % falls into.
* 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 (MEX:ULTA) has a Net Margin % of 10.76% as of Apr. 2026. Net margin is the ratio of total net income to net sales. View historical data on Ulta Beauty and its competitors. This is 11% above median its historical median of 9.67. Over the past decade, Ulta Beauty's Net Margin % has ranged from 2.86 to 12.17. According to the industry distribution chart, Ulta Beauty ranks #177 out of 1128 companies in the Retail - Cyclical industry, placing it in the top 15.7%.
Is Ulta Beauty's Net Margin % too high?
Ulta Beauty's current Net Margin % of 10.76% is 11% above median its 10-year median of 9.67. Over the past 10 years, this metric has ranged from a low of 2.86 to a high of 12.17. The Retail - Cyclical industry median Net Margin % is 2.33. Ulta Beauty's value of 10.76% is 361.8% above this industry median. Based on the distribution chart, Ulta Beauty ranks #177 out of 1128 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, Ulta Beauty has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ulta Beauty's Net Margin % compare to WSM and DKS?
According to the Retail - Cyclical industry distribution chart, Ulta Beauty ranks #177 out of 1128 companies for Net Margin %. This places Ulta Beauty in the top 16% of its industry — outperforming the majority of peers. The industry median Net Margin % is 2.33. Ulta Beauty's value of 10.76% is 361.8% above this benchmark. Historically, Ulta Beauty's own Net Margin % has ranged from 2.86 to 12.17 over the past decade. While the company's 10-year median is 9.67 vs. the industry median of 2.33, Ulta Beauty has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for a Retail - Cyclical company?
The median Net Margin % among Retail - Cyclical companies is 2.33, based on 1,128 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ulta Beauty's current Net Margin % of 10.76% is 361.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Ulta Beauty and its competitors. For the Retail - Cyclical industry, the median Net Margin % is 2.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ulta Beauty's current Net Margin % is 10.76%, which is 11% above median its own 10-year median of 9.67. 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 (MEX:ULTA) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN9,867.21, compared to a current price of MXN8,590.00 — trading 12.9% below its estimated fair value. The current Net Margin % is 10.76%, which is 11% above median its 10-year median of 9.67 and 361.8% above the Retail - Cyclical industry median of 2.33. Ulta Beauty's overall GF Score™ is 84/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Ulta Beauty (MEX:ULTA), the current Net Margin % is 10.76% as of Apr. 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 (MEX:ULTA) Overvalued in 2026?
Based on GuruFocus' analysis, Ulta Beauty stock appears to be undervalued.
The current stock price of MXN8,590.00 is trading 12.9% below its estimated GF Value™ of MXN9,867.21.
GuruFocus considers Ulta Beauty to be Modestly Undervalued.
Key valuation signals for MEX:ULTA:
Net Margin %: 10.76% (11% above median its 10-year median of 9.67)
GF Value™: MXN9,867.21 vs. price of MXN8,590.00 (12.9% below fair value)
Industry Position: 361.8% above the Retail - Cyclical median (#177 of 1128)
No single metric tells the full story. See the MEX:ULTA 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.
84GF Score
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