Ulta BeautyFRA:34U -1.37%96 Pretax Margin % is 14.19% as of Apr. 2026, which is 6% above its 10-year median of 13.44. GuruFocus rates FRA:34U with a GF Score™ of 96/100 and a GF Value™ of €477.96 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,128 Retail - Cyclical companies, Ulta Beauty ranks better than 83.95% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Ulta Beauty's Pre-Tax Income for the
three
months ended in Apr. 2026 was €384 Mil. Ulta Beauty's Revenue for the
three
months ended in Apr. 2026 was €2,705 Mil. Therefore, Ulta Beauty's pretax margin for the quarter that ended in Apr. 2026 was 14.19%.
The historical rank and industry rank for Ulta Beauty's Pretax Margin % or its related term are showing as below:
FRA:34U'
s Pretax Margin % Range Over the Past 10 Years
Min: 3.76 Med: 13.44 Max: 16.1
Current: 12.39
FRA:34U's Pretax Margin % is ranked better than 83.95% of 1128
companies
in the Retail - Cyclical industry
Industry Median: 3.135
vs FRA:34U: 12.39
Ulta Beauty (FRA:34U) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Ulta Beauty Pretax Margin % Related Terms
Ulta Beauty Pretax Margin % Historical Data
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The historical data trend for Ulta Beauty's Pretax 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.
FRA:34U vs WSM, DKS, TSCO: Pretax Margin % Comparison
For the Specialty Retail subindustry, Ulta Beauty's Pretax Margin %, along with its competitors' market caps and Pretax 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 Pretax Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Ulta Beauty's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Ulta Beauty's Pretax 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 (FRA:34U) has a Pretax Margin % of 14.19% as of Apr. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Ulta Beauty and its competitors. This is near median its historical median of 13.44. Over the past decade, Ulta Beauty's Pretax Margin % has ranged from 3.76 to 16.10. According to the industry distribution chart, Ulta Beauty ranks #181 out of 1128 companies in the Retail - Cyclical industry, placing it in the top 16%.
Is Ulta Beauty's Pretax Margin % too high?
Ulta Beauty's current Pretax Margin % of 14.19% is near median its 10-year median of 13.44. Over the past 10 years, this metric has ranged from a low of 3.76 to a high of 16.10. The Retail - Cyclical industry median Pretax Margin % is 3.14. Ulta Beauty's value of 14.19% is 352.6% above this industry median. Based on the distribution chart, Ulta Beauty ranks #181 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 96/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ulta Beauty's Pretax Margin % compare to WSM and DKS?
According to the Retail - Cyclical industry distribution chart, Ulta Beauty ranks #181 out of 1128 companies for Pretax Margin %. This places Ulta Beauty in the top 16% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 3.14. Ulta Beauty's value of 14.19% is 352.6% above this benchmark. Historically, Ulta Beauty's own Pretax Margin % has ranged from 3.76 to 16.10 over the past decade. While the company's 10-year median is 13.44 vs. the industry median of 3.14, 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 Pretax Margin % for a Retail - Cyclical company?
The median Pretax Margin % among Retail - Cyclical companies is 3.14, based on 1,128 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ulta Beauty's current Pretax Margin % of 14.19% is 352.6% 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Ulta Beauty and its competitors. For the Retail - Cyclical industry, the median Pretax Margin % is 3.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ulta Beauty's current Pretax Margin % is 14.19%, which is near median its own 10-year median of 13.44. 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 Pretax Margin % is 14.19%, which is near median its 10-year median of 13.44 and 352.6% above the Retail - Cyclical industry median of 3.14. 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 Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Ulta Beauty (FRA:34U), the current Pretax Margin % is 14.19% 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 (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:
Pretax Margin %: 14.19% (near median its 10-year median of 13.44)
GF Value™: €477.96 vs. price of €418.60 (12.4% below fair value)
Industry Position: 352.6% above the Retail - Cyclical median (#181 of 1128)
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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