Filing Flows › Ulta Beauty (ULTA) › Q4 FY26
Ulta Beauty (ULTA) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Mar 26, 2026
Ulta Beauty (ULTA) reported revenue of $3.9B for the fourth quarter fiscal 2026 (Q4 FY26), +12% from a year earlier and +36% from the quarter before. Operating margin was 12.2%, net earnings $357M (9.1% of revenue).
Ulta Beauty, Q4 FY26: revenue $3.9B (+12% year over year), operating margin 12.2%, net earnings $357M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.9B | +36% | +12% |
| Gross profit | $1.5B | +28% | +11% |
| Operating profit | $477M | +54% | -8% |
| Net earnings | $357M | +54% | -9% |
| Operating cash flow | $1.2B | 209× | +14% |
| Free cash flow | $989M | — | +3% |
What changed
Revenue was $3.9B in Q4 FY26, up 12% year over year and up 36% from the previous quarter.
Gross margin was 38.1%, down 0.2 points from Q4 FY25. Operating profit was $0.48B, a 12.2% margin (down 2.6 points year over year). Operating profit fell $0.04B even though revenue rose $0.41B versus Q4 FY25, so costs grew faster than sales. Operating expenses grew 23% against revenue growth of 12%. Net earnings were $0.36B, down 9% year over year. The effective tax rate was 24.5%.
Operating cash flow was $1.2B (up 14% year over year), 331% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items added $0.74B. Capital expenditures of $0.19B left free cash flow of $1.0B.
Questions
What was Ulta Beauty's revenue in the fourth quarter fiscal 2026?
Ulta Beauty (ULTA) reported revenue of $3.9B for the fourth quarter fiscal 2026 (Q4 FY26), +12% from a year earlier and +36% from the quarter before.
Was Ulta Beauty profitable in the fourth quarter fiscal 2026?
Operating profit was $477M (12.2% of revenue) and net earnings $357M.
Source: Ulta Beauty 10-K on SEC EDGAR.