Stock Analysis on Net

Ulta Beauty Inc. (NASDAQ:ULTA)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 24, 2023.

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Ulta Beauty Inc., consolidated balance sheet: assets

US$ in thousands

Microsoft Excel
Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018
Cash and cash equivalents
Short-term investments
Receivables, net
Merchandise inventories, net
Prepaid supplies
Cloud computing costs
Prepaid advertising
Other
Prepaid expenses and other current assets
Prepaid income taxes
Current assets
Property and equipment, net
Operating lease right-of-use assets
Goodwill
Other intangible assets, net
Deferred compensation plan assets
Cloud computing costs
Other
Other long-term assets
Long-term assets
Total assets

Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).


The financial data reveal several notable trends in the company's asset composition and overall financial position over the six-year period examined.

Cash and Cash Equivalents
This item displays a generally increasing trend, starting at approximately $277 million in early 2018 and rising significantly to $1.05 billion by early 2021, before experiencing some fluctuation and culminating at about $738 million in early 2023. This indicates a substantial accumulation of liquid assets, particularly peaking in 2021.
Short-term Investments
Available data shows fluctuations with $120 million reported in 2018, temporarily missing in some years, and reducing to $110 million in 2020. The lack of information beyond 2020 limits interpretation but suggests a reduction or reallocation of short-term investments over time.
Receivables, Net
A steady increase is observed from roughly $100 million in 2018 to a peak of about $234 million in early 2022, followed by a decrease to approximately $199 million in 2023. This pattern reflects growth in credit sales or extended customer credit terms, with a recent reduction possibly indicating improved collections or sales adjustments.
Merchandise Inventories, Net
Inventories generally rise from approximately $1.1 billion in 2018 to $1.6 billion in 2023, despite a dip in 2021. This overall growth aligns with business expansion or increased product offerings, though the temporary decline in 2021 could suggest inventory management adjustments or supply chain impacts.
Prepaid Supplies, Cloud Computing Costs, and Prepaid Advertising
These categories appear starting in 2022 with values reported including prepaid supplies around $41 million, cloud computing costs increasing from about $23 million in 2022 to $35 million in 2023, and prepaid advertising also rising. This suggests a growing investment in operational infrastructure and marketing efforts during recent years.
Other Current Assets and Prepaid Expenses
Other current assets maintained a fluctuating pattern, decreasing notably from 2018 to 2022 but increasing slightly in 2023. Prepaid expenses and other current assets rose gradually, indicating an increasing proportion of short-term assets tied up in prepaid costs or similar items.
Prepaid Income Taxes
This item shows erratic patterns with limited data, rising sharply to approximately $17 million in 2019, dropping out in 2021, and climbing again to over $38 million in 2023. This volatility might be related to tax strategy fluctuations or timing differences in tax payments.
Current Assets
The total current assets rose consistently from about $1.7 billion in 2018, peaking at $2.5 billion in 2021, dipping in 2022, then rising again in 2023 to nearly $2.7 billion. This trend reflects overall growth in liquid and near-liquid resources, though with some year-to-year variability.
Property and Equipment, Net
There is a declining trend from approximately $1.19 billion in 2018 to a low of about $914 million in 2022, with a slight recovery to just over $1 billion in 2023. The decline suggests divestitures, depreciation, or reduced capital expenditure prior to 2022, followed by some reinvestment recently.
Operating Lease Right-of-Use Assets
Data is available from 2020 onward, showing a stable range around $1.5 billion. This indicates consistent lease obligations and corresponding assets held, reflecting the company's leasing arrangements over these years.
Goodwill and Other Intangible Assets
Goodwill remains constant at about $10.9 million from 2019 through 2023, while other intangible assets steadily decrease from $4.3 million in 2019 to nearly $1.3 million in 2023, indicating potential amortization or impairment of certain intangible assets.
Deferred Compensation Plan Assets
These assets grow steadily from about $17 million in 2018 to approximately $38 million in 2022, then slightly decline in 2023, reflecting changes in deferred employee compensation liabilities and their corresponding assets.
Other Long-Term Assets
This category increases steadily from approximately $8.7 million in 2018 to about $43 million in 2023, indicating a gradual accumulation of miscellaneous long-term assets.
Long-Term Assets and Total Assets
Long-term assets show a marked increase from $1.2 billion in 2018 to a peak of $2.8 billion in 2020, followed by a decline and some recovery to $2.66 billion in 2023. Total assets exhibit a similar trend with sizable growth from $2.9 billion in 2018 to almost $5.1 billion in 2021, a drop in 2022, and recovery to over $5.3 billion in 2023. These movements reflect significant asset acquisitions and disposals impacting the overall asset base.

Overall, the financial data indicate growth in total assets with fluctuations driven primarily by changes in current and long-term asset components. Investments in liquid assets, inventories, and operational resources have increased, while property and equipment have decreased but shown signs of recent reinvestment. Intangible assets and deferred compensation exhibit anticipated patterns of amortization and accumulation, respectively. These trends depict a dynamic financial structure adapting to operational and strategic developments.


Assets: Selected Items


Current Assets: Selected Items