Current Ratio
since 2008
Calculation
Ulta Beauty Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Jan 28, 2023 | 1.61 | = | 2,709,304) | ÷ | 1,681,775) |
| Jan 29, 2022 | 1.46 | = | 2,281,183) | ÷ | 1,558,010) |
| Jan 30, 2021 | 1.87 | = | 2,514,777) | ÷ | 1,343,713) |
| Feb 1, 2020 | 1.81 | = | 2,055,317) | ÷ | 1,137,261) |
| Feb 2, 2019 | 2.32 | = | 1,914,861) | ÷ | 823,736) |
| Feb 3, 2018 | 2.64 | = | 1,693,743) | ÷ | 642,166) |
| Jan 28, 2017 | 2.90 | = | 1,536,237) | ÷ | 529,343) |
| Jan 30, 2016 | 3.47 | = | 1,375,173) | ÷ | 396,227) |
| Jan 31, 2015 | 3.50 | = | 1,260,355) | ÷ | 359,594) |
| Feb 1, 2014 | 3.76 | = | 1,002,697) | ÷ | 266,811) |
| Feb 2, 2013 | 3.57 | = | 789,324) | ÷ | 221,067) |
| Jan 28, 2012 | 3.52 | = | 580,232) | ÷ | 164,855) |
| Jan 29, 2011 | 2.48 | = | 404,389) | ÷ | 163,357) |
| Jan 30, 2010 | 2.08 | = | 262,774) | ÷ | 126,357) |
| Jan 31, 2009 | 2.36 | = | 276,708) | ÷ | 117,013) |
| Feb 2, 2008 | 2.05 | = | 228,944) | ÷ | 111,905) |
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), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02).
1 US$ in thousands
The financial trajectory between 2008 and 2023 is characterized by a substantial expansion in the scale of current operating resources and obligations. Total current assets grew from approximately US$228.9 million in 2008 to US$2.7 billion by 2023, while current liabilities increased from US$111.9 million to US$1.68 billion over the same period.
- Liquidity Cycle and Peak Performance
- A period of significant liquidity expansion occurred between 2012 and 2015, during which the current ratio rose from 3.52 to a peak of 3.76. In this phase, the growth of current assets substantially outpaced the growth of current liabilities, indicating a highly conservative liquidity position with an abundance of short-term assets relative to obligations.
- Long-term Compression Trend
- Following the 2014 peak, a consistent downward trend in the current ratio is observable. From 2015 to 2022, the ratio declined from 3.50 to 1.46. This compression suggests a shift toward more aggressive working capital management or a faster rate of increase in short-term liabilities compared to the accumulation of liquid assets.
- Recent Stability and Recovery
- The lowest liquidity level was recorded in January 2022 at 1.46. However, a marginal recovery to 1.61 was observed by January 2023. This recent shift was driven by a notable increase in current assets to US$2.7 billion, while current liabilities increased at a slower pace during the final year of the analyzed period.
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Comparison to Competitors
Ulta Beauty Inc., current ratio, long-term trends, comparison to competitors
| Ulta Beauty Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|---|
| Jan 28, 2023 | 1.61 | 1.05 | 1.41 | 1.10 | 1.21 |
| Jan 29, 2022 | 1.46 | 0.94 | 1.01 | 1.02 | 1.27 |
| Jan 30, 2021 | 1.87 | 1.14 | 1.23 | 1.19 | 1.46 |
| Feb 1, 2020 | 1.81 | 1.05 | 1.08 | 1.01 | 1.24 |
| Feb 2, 2019 | 2.32 | 1.10 | 1.11 | 0.98 | 1.53 |
| Feb 3, 2018 | 2.64 | 1.10 | 1.17 | 1.06 | 1.66 |
| Jan 28, 2017 | 2.90 | 1.04 | 1.25 | 1.00 | 1.63 |
| Jan 30, 2016 | 3.47 | 1.04 | 1.36 | 1.01 | 1.54 |
| Jan 31, 2015 | 3.50 | 1.08 | 1.36 | 1.08 | 1.71 |
| Feb 1, 2014 | 3.76 | 1.12 | 1.42 | 1.16 | 1.72 |
| Feb 2, 2013 | 3.57 | 1.07 | 1.34 | 1.27 | 1.52 |
| Jan 28, 2012 | 3.52 | 1.12 | 1.55 | 1.28 | 1.68 |
| Jan 29, 2011 | 2.48 | 1.17 | 1.33 | 1.40 | 1.63 |
| Jan 30, 2010 | 2.08 | 1.33 | 1.34 | 1.32 | 1.66 |
| Jan 31, 2009 | 2.36 | 1.33 | 1.20 | 1.15 | 1.31 |
| Feb 2, 2008 | 2.05 | 1.30 | 1.15 | 1.12 | 1.45 |
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), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
Ulta Beauty Inc., current ratio, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Ulta Beauty Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Jan 28, 2023 | 1.61 | 1.10 |
| Jan 29, 2022 | 1.46 | 0.98 |
| Jan 30, 2021 | 1.87 | 1.17 |
| Feb 1, 2020 | 1.81 | 1.06 |
| Feb 2, 2019 | 2.32 | 1.10 |
| Feb 3, 2018 | 2.64 | 1.13 |
| Jan 28, 2017 | 2.90 | 1.10 |
| Jan 30, 2016 | 3.47 | 1.12 |
| Jan 31, 2015 | 3.50 | 1.17 |
| Feb 1, 2014 | 3.76 | 1.23 |
| Feb 2, 2013 | 3.57 | 1.21 |
| Jan 28, 2012 | 3.52 | 1.30 |
| Jan 29, 2011 | 2.48 | 1.31 |
| Jan 30, 2010 | 2.08 | 1.36 |
| Jan 31, 2009 | 2.36 | 1.23 |
| Feb 2, 2008 | 2.05 | 1.20 |
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), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02).
Comparison to Industry (Consumer Discretionary)
Ulta Beauty Inc., current ratio, long-term trends, comparison to industry (consumer discretionary)
| Ulta Beauty Inc. | Consumer Discretionary | |
|---|---|---|
| Jan 28, 2023 | 1.61 | 1.20 |
| Jan 29, 2022 | 1.46 | 1.15 |
| Jan 30, 2021 | 1.87 | 1.25 |
| Feb 1, 2020 | 1.81 | 1.19 |
| Feb 2, 2019 | 2.32 | 1.10 |
| Feb 3, 2018 | 2.64 | 1.15 |
| Jan 28, 2017 | 2.90 | 1.15 |
| Jan 30, 2016 | 3.47 | 1.12 |
| Jan 31, 2015 | 3.50 | 1.25 |
| Feb 1, 2014 | 3.76 | 1.11 |
| Feb 2, 2013 | 3.57 | 1.15 |
| Jan 28, 2012 | 3.52 | 1.14 |
| Jan 29, 2011 | 2.48 | 1.31 |
| Jan 30, 2010 | 2.08 | 1.24 |
| Jan 31, 2009 | 2.36 | 1.25 |
| Feb 2, 2008 | 2.05 | 0.96 |
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), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02).