Filing Flows › Ulta Beauty (ULTA) › How it makes money
How Ulta Beauty (ULTA) makes money
Ulta Beauty (ULTA) made $3.0B of revenue in the second quarter fiscal 2027 (Q2 FY27), +9% from a year earlier. Of every dollar of revenue, 39¢ was left as gross profit, 13¢ was left as operating profit, 9¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q2 FY27 | % of revenue |
|---|---|---|
| Revenue | $3.0B | 100.0% |
| Cost of revenue | $1.8B | 60.9% |
| Gross profit | $1.2B | 39.1% |
| Operating expenses | $807M | 26.6% |
| Operating profit | $380M | 12.5% |
| Income tax | $91.9M | 3.0% |
| Net earnings | $282M | 9.3% |
| Operating cash flow | $120M | 3.9% |
| Free cash flow | $38.4M | 1.3% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 FY27 | $3.0B | +9% |
| Q1 FY27 | $3.2B | +11% |
| Q4 FY26 | $3.9B | +12% |
| Q3 FY26 | $2.9B | +13% |
| Q2 FY26 | $2.8B | +9% |
| Q1 FY26 | $2.8B | +4% |
| Q4 FY25 | $3.5B | -2% |
From Ulta Beauty's 10-Q filed Aug 27, 2026 (on EDGAR).
Questions
How does Ulta Beauty make money?
Ulta Beauty (ULTA) made $3.0B of revenue in the second quarter fiscal 2027 (Q2 FY27), +9% from a year earlier. Of every dollar of revenue, 39¢ was left as gross profit, 13¢ was left as operating profit, 9¢ was left as net earnings.
What is Ulta Beauty's profit margin?
Net earnings were $282M, 9.3% of revenue, in the second quarter fiscal 2027; the operating margin was 12.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.