Price to Book Value (P/BV)
since 2008
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Ulta Beauty Inc. pages available for free this week:
- 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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Calculation
Ulta Beauty Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 24, 2023 | = | ÷ | = | ÷ | |||||||
| Mar 25, 2022 | = | ÷ | = | ÷ | |||||||
| Mar 26, 2021 | = | ÷ | = | ÷ | |||||||
| Mar 27, 2020 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2019 | = | ÷ | = | ÷ | |||||||
| Apr 3, 2018 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2017 | = | ÷ | = | ÷ | |||||||
| Mar 30, 2016 | = | ÷ | = | ÷ | |||||||
| Apr 1, 2015 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2014 | = | ÷ | = | ÷ | |||||||
| Apr 3, 2013 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2012 | = | ÷ | = | ÷ | |||||||
| Mar 30, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2010 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2009 | = | ÷ | = | ÷ | |||||||
| Apr 16, 2008 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Ulta Beauty Inc. Annual Report.
- Share Price Trend
- The share price exhibited significant volatility over the analyzed period. Initially, it dropped sharply from $14.12 in 2008 to a low of $6.63 in 2009. Following this trough, the share price showed a strong upward trajectory, reaching $282.86 by 2017. After 2017, the price displayed fluctuations with a notable decline to $174.45 in 2020, coinciding likely with market disruptions. Subsequently, it recovered robustly, surpassing prior highs and peaking at $513.98 in 2023, indicating substantial growth and investor confidence in recent years.
- Book Value Per Share (BVPS) Progression
- Book value per share demonstrated a consistent upward trend throughout the entire timeline. Starting from $3.71 in 2008, it increased steadily each year, reaching $39.04 in 2023 with a minor dip observed in 2022 when BVPS decreased from $35.58 to $29.34. Overall, this suggests ongoing asset growth or retained earnings accumulation, reinforcing the company’s increasing intrinsic value over the years.
- Price to Book Value Ratio (P/BV)
- The P/BV ratio showed considerable variation and indicates fluctuating market valuation relative to the company's book value. After a low of 1.56 in 2009, it climbed sharply to peak at 13.46 in 2022. The ratio declined somewhat in early years and saw a temporary drop to around 5.16 in 2020, aligning with the share price decline during that period. From 2020 onwards, the ratio increased again, reflecting a higher market premium relative to the book value, possibly due to market optimism or growth expectations. The elevated P/BV ratios in recent years suggest that investors value the company well above its book assets, anticipating strong future performance.
- Overall Insights
- The financial data reveals a company that has grown significantly in intrinsic value, as shown by the steady increase in book value per share. The share price growth has outpaced book value increases, resulting in rising P/BV ratios, particularly in recent years. Periods of market stress are visible in share price declines and corresponding dips in the P/BV ratio, especially around 2009 and 2020. Recovery phases followed these downturns, demonstrating resilience. The sustained increase in share price and elevated P/BV ratios highlight positive market sentiment and expectations of continued growth potential.
Comparison to Competitors
Ulta Beauty Inc., P/BV, long-term trends, comparison to competitors
| Ulta Beauty Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|---|
| Mar 24, 2023 | |||||
| Mar 25, 2022 | |||||
| Mar 26, 2021 | |||||
| Mar 27, 2020 | |||||
| Apr 2, 2019 | |||||
| Apr 3, 2018 | |||||
| Mar 28, 2017 | |||||
| Mar 30, 2016 | |||||
| Apr 1, 2015 | |||||
| Apr 2, 2014 | |||||
| Apr 3, 2013 | |||||
| Mar 28, 2012 | |||||
| Mar 30, 2011 | |||||
| Mar 31, 2010 | |||||
| Apr 2, 2009 | |||||
| Apr 16, 2008 |
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., P/BV, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Ulta Beauty Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Mar 24, 2023 | ||
| Mar 25, 2022 | ||
| Mar 26, 2021 | ||
| Mar 27, 2020 | ||
| Apr 2, 2019 | ||
| Apr 3, 2018 | ||
| Mar 28, 2017 | ||
| Mar 30, 2016 | ||
| Apr 1, 2015 | ||
| Apr 2, 2014 | ||
| Apr 3, 2013 | ||
| Mar 28, 2012 | ||
| Mar 30, 2011 | ||
| Mar 31, 2010 | ||
| Apr 2, 2009 | ||
| Apr 16, 2008 |
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., P/BV, long-term trends, comparison to industry (consumer discretionary)
| Ulta Beauty Inc. | Consumer Discretionary | |
|---|---|---|
| Mar 24, 2023 | ||
| Mar 25, 2022 | ||
| Mar 26, 2021 | ||
| Mar 27, 2020 | ||
| Apr 2, 2019 | ||
| Apr 3, 2018 | ||
| Mar 28, 2017 | ||
| Mar 30, 2016 | ||
| Apr 1, 2015 | ||
| Apr 2, 2014 | ||
| Apr 3, 2013 | ||
| Mar 28, 2012 | ||
| Mar 30, 2011 | ||
| Mar 31, 2010 | ||
| Apr 2, 2009 | ||
| Apr 16, 2008 |
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).