Balance Sheet: Assets
Quarterly Data
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.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2008
- Net Profit Margin since 2008
- Debt to Equity since 2008
- Price to Operating Profit (P/OP) since 2008
- Price to Sales (P/S) since 2008
- Aggregate Accruals
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Ulta Beauty Inc., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29).
- Cash and Cash Equivalents
- The cash and cash equivalents show significant volatility over the reported quarters. Starting from a high point of $321.7 million in April 2017, it declined sharply to below $50 million by October 2017, then increased again, peaking at over $1 billion in May and August 2020. Following these peaks, there is a general downward trend with intermittent fluctuations, ending at $388.6 million in July 2023. This suggests periods of liquidity accumulation followed by spending or investment dips.
- Short-term Investments
- Short-term investments data is incomplete but reveals variability, ranging between $60 million and $237 million. The recorded values indicate a fluctuating but generally moderate allocation of liquid assets into short-term investments relative to cash balances.
- Receivables, Net
- Receivables present a generally upward trend over the period, growing from $62.9 million in April 2017 to a peak near $233.7 million by April 2022, before dipping slightly towards mid-2023. This increase indicates growth in sales on credit or delayed collections consistent with revenue expansion over time.
- Merchandise Inventories, Net
- Inventories have grown notably from $1.05 billion in April 2017 to a peak above $2.11 billion in October 2022, with occasional declines. The strong growth suggests building stock to meet increasing demand, but significant fluctuations may indicate inventory management challenges or seasonal purchasing patterns.
- Prepaid Expenses and Other Current Assets
- These assets increase modestly across the timeline, from $89.9 million up to around $137.6 million by late 2022, before a slight tapering. The relative stability shows consistent prepayments and other short-term asset levels supporting ongoing operations.
- Prepaid Income Taxes
- Prepaid income taxes data is sporadic and uneven across quarters, showing varying amounts with no clear trend. The irregular pattern may reflect changing tax liabilities or timing differences in payments and accruals.
- Current Assets
- Current assets exhibit an overall growth trend from about $1.67 billion in early 2017 to peaks above $2.7 billion around mid-2020 and early 2023. The fluctuations mirror movements in cash, receivables, and inventories, highlighting active management of liquid and near-liquid assets.
- Property and Equipment, Net
- The net value of property and equipment grows steadily to reach a high near $1.23 billion in late 2019 before a gradual decline to around $909 million by mid-2021, followed by a moderate recovery to about $1.07 billion by mid-2023. This suggests new investments and disposals or depreciation effects influencing fixed asset levels.
- Operating Lease Right-of-Use Assets
- Starting from early 2019, the right-of-use assets related to operating leases are substantial, consistently around $1.46 billion to $1.56 billion. The minor variations indicate steady leasing commitments and stable right-of-use asset valuation.
- Goodwill
- Goodwill remains constant at about $10.9 million from 2018 onwards, indicating no significant acquisitions or impairments affecting this intangible asset during the period analyzed.
- Other Intangible Assets, Net
- Other intangible assets display a declining trend from $6.98 million in late 2018 to approximately $0.7 million by mid-2023. The steady reduction may reflect amortization or disposals over time.
- Deferred Compensation Plan Assets
- Deferred compensation plan assets increased from $13.8 million in early 2017 to a peak above $38.4 million by early 2022, followed by some decrease and recovery, ending near $40.1 million in mid-2023. This growth indicates accumulation related to employee benefits.
- Other Long-term Assets
- Other long-term assets have generally increased from around $8.7 million in early recorded quarters to over $61.3 million by mid-2023, signaling expansion in miscellaneous holdings or investments of a longer-term nature.
- Long-term Assets
- Long-term assets rose consistently from approximately $1.03 billion in early 2017 to a peak over $2.8 billion around late 2019 and early 2020. Thereafter, a slight decline and stabilization occurred, with values around $2.7 billion by mid-2023. This upward trend implies ongoing investment in fixed and intangible assets to support business growth.
- Total Assets
- Total assets increased steadily from $2.71 billion in early 2017 to approximately $5.37 billion in early 2023, nearly doubling over six years. Fluctuations are related to movements in cash, inventories, and property assets. The overall growth reflects significant asset base expansion aligning with company scale and operational developments.