Ulta Beauty (ULTA) Balance Sheet: Assets & Liabilities

Ulta Beauty (ULTA) Balance Sheet

As of Jan 31, 2026 (end of fiscal 2026), Ulta Beauty reported total assets of $7.00B and total liabilities of $4.20B. Shareholders' equity was $2.80B, up 12.7% from $2.49B a year earlier. Total debt stood at $1.88B against $494.24M in cash and short-term investments, a net debt position of $1.38B. That puts debt-to-equity at 0.67, compared with 0.03 a year earlier.

Ulta Beauty Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Ulta Beauty, Inc. (ULTA) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Jan 2026	Feb 2025	Jan 2025	Feb 2024	Jan 2024	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018
Current Assets
Cash and Cash Equivalents	0.42	0.70	0.70	0.77	0.77	0.74	0.43	1.05	0.39	0.41	0.28
Short-Term Investments	0.07	0.07	0.00	-	0.00	0.00	0.00	0.00	0.11	0.00	0.12
Cash & Short-Term Investments	0.49	0.70	0.70	0.77	0.77	0.74	0.43	1.05	0.50	0.41	0.40
Accounts Receivable	0.30	0.30	0.22	0.22	0.21	0.20	0.23	0.19	0.14	0.14	0.10
Inventory	2.18	2.01	1.97	1.78	1.74	1.60	1.50	1.17	1.29	1.21	1.10
Other Current Assets	0.06	0.17	0.03	0.13	0.12	0.03	0.04	0.11	0.12	0.16	0.10
Total Current Assets	3.14	3.03	3.03	2.84	2.84	2.71	2.28	2.51	2.06	1.91	1.69
Non-Current Assets
Property, Plant & Equipment (Net)	3.25	3.25	2.85	2.85	2.76	2.57	2.40	2.50	2.74	1.23	1.19
Goodwill	0.23	0.23	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.00
Intangible Assets	0.20	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	0.06	0.18	0.03	0.11	0.10	0.01	0.04	0.06	0.05	0.04	0.03
Total Non-Current Assets	3.86	-	2.97	-	2.87	2.66	2.48	2.58	2.81	1.28	1.21
Total Assets	7.00	6.00	6.00	5.71	5.71	5.37	4.76	5.09	4.86	3.19	2.91
Current Liabilities
Accounts Payable	0.69	0.69	0.56	0.56	0.54	0.56	0.55	0.48	0.41	0.40	0.33
Short-Term Debt	0.06	0.06	0.29	-	0.28	0.28	0.27	0.25	0.24	0.00	0.00
Accrued Liabilities	0.48	0.59	0.32	0.43	0.33	0.39	0.32	-	-	-	-
Deferred Revenue	0.58	0.58	0.50	0.50	0.44	0.39	0.35	0.27	0.24	0.20	0.06
Other Current Liabilities	0.58	0.01	0.42	0.04	0.33	0.39	0.36	0.30	0.21	0.19	0.24
Total Current Liabilities	2.22	2.22	1.78	1.78	1.66	1.68	1.56	1.34	1.14	0.82	0.64
Non-Current Liabilities
Long-Term Debt	1.81	-	1.64	-	1.63	1.62	1.57	1.64	1.70	0.00	0.00
Deferred Tax Liabilities	0.10	0.04	0.04	0.09	0.09	0.06	0.04	0.07	0.09	0.08	0.06
Other Non-Current Liabilities	0.06	0.16	0.06	0.10	0.06	0.05	0.06	0.04	0.04	0.46	0.49
Total Non-Current Liabilities	1.97	1.97	1.73	1.73	1.77	1.73	1.67	1.75	1.82	0.55	0.49
Total Liabilities	4.20	3.51	3.51	3.43	3.43	3.41	3.23	3.09	2.96	1.37	1.13
Stockholders' Equity
Common Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Retained Earnings	1.74	1.74	1.47	1.47	1.29	1.00	0.65	1.19	1.13	1.11	1.09
Accumulated Other Comprehensive Income	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Treasury Stock	0.12	-	0.11	-	0.08	0.06	0.05	-	-	-	-
Additional Paid-in Capital	1.18	-	1.12	-	0.99	1.02	0.93	0.81	0.77	0.71	0.68
Shares Outstanding	0.04	-	0.05	-	0.05	0.05	0.05	-	-	-	-
Total Stockholders' Equity	2.80	2.49	2.49	2.28	2.28	1.96	1.54	2.00	1.90	1.82	1.77
Total Liabilities & Equity	7.00	-	6.00	-	5.71	5.37	4.76	5.09	4.86	3.19	2.91

Source: Company financial statements from annual and quarterly filings. Data as of Aug 1, 2026. Data sources and methodology

Frequently Asked Questions About Ulta Beauty Balance Sheet

How much debt does Ulta Beauty have?

Ulta Beauty had total debt of $1.88B as of Jan 31, 2026, against $494.24M in cash and short-term investments. Its debt-to-equity ratio was 0.67. Total debt was $62.29M a year earlier.

What are Ulta Beauty's total assets?

Ulta Beauty reported total assets of $7.00B as of Jan 31, 2026, up 16.6% from $6.00B a year earlier. Total liabilities were $4.20B.

What is Ulta Beauty's shareholders' equity?

Ulta Beauty's shareholders' equity was $2.80B as of Jan 31, 2026, or about $63.48 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition