Income Statement
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Debt to Equity since 2008
- Price to Earnings (P/E) since 2008
- Price to Operating Profit (P/OP) since 2008
- Price to Sales (P/S) since 2008
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Ulta Beauty Inc., consolidated income statement
US$ in thousands
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).
- Net Sales
- Net sales showed a general upward trend over the analyzed periods, increasing from approximately 5.88 billion to over 10.2 billion US dollars. A notable decline occurred in the fiscal year ending January 30, 2021, when net sales dropped significantly to about 6.15 billion, likely reflecting external adverse conditions, followed by a strong recovery and growth in subsequent years.
- Cost of Sales
- Cost of sales followed a pattern similar to net sales, rising from approximately 3.79 billion to over 6.16 billion US dollars. There was a notable dip in the year ended January 30, 2021, aligning with the sales downturn. The magnitude of cost increases closely paralleled revenue growth in the recovery phase.
- Gross Profit
- Gross profit increased overall from roughly 2.1 billion to over 4 billion US dollars. The drop in gross profit during the fiscal year ending January 30, 2021, was significant, reaching just under 2 billion before recovering strongly to 3.37 billion and growing to over 4 billion by January 28, 2023.
- Selling, General and Administrative Expenses
- Selling, general, and administrative expenses showed a steady increase from about 1.29 billion to nearly 2.40 billion US dollars. A decrease was observed in the fiscal year ending January 30, 2021, corresponding with the dip in gross profit, before resuming the upward trend.
- Impairment, Restructuring and Other Costs
- Only one value was recorded, a charge of approximately 114 million US dollars in the fiscal year ending January 30, 2021, indicating a distinct cost related to impairment or restructuring during this period, which may have impacted operating income substantially.
- Pre-opening Expenses
- Pre-opening expenses displayed a gradual decline from around 24 million to approximately 10.6 million US dollars by the most recent period, suggesting improved efficiency or a strategic reduction in new store openings or related activities.
- Operating Income
- Operating income rose overall from about 785 million to 1.64 billion US dollars, with a marked decrease in the fiscal year ending January 30, 2021, dropping to approximately 237 million. Following this, operating income showed a strong rebound, exceeding pre-dip levels significantly in the last two reported periods.
- Interest Income (Expense), Net
- Net interest income and expense values fluctuated with positive inflows in most years, except for negative values recorded during the 2021 and 2022 fiscal years. These fluctuations suggest variability in financing costs or investment income which could have influenced net income marginally in these years.
- Income Before Income Taxes
- Income before income taxes mirrored the trends in operating income, rising from approximately 787 million to over 1.64 billion US dollars. The significant dip to about 231 million during the fiscal year ending January 30, 2021, was followed by a strong recovery, indicating resilience in pre-tax profitability.
- Income Tax Expense
- Income tax expense varied in absolute terms but generally increased in line with pre-tax income, starting around 232 million and reaching over 400 million US dollars. The lowest tax expense occurred in the fiscal year ending January 30, 2021, consistent with reduced pre-tax income.
- Net Income
- Net income showed an increasing trend from 555 million to over 1.24 billion US dollars, except for a significant decline to approximately 176 million in the fiscal year ending January 30, 2021. The company demonstrated a strong recovery in profitability in the two most recent years.