Total Asset Turnover
since 2008
Calculation
Ulta Beauty Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Jan 28, 2023 | 1.90 | = | 10,208,580) | ÷ | 5,370,411) |
| Jan 29, 2022 | 1.81 | = | 8,630,889) | ÷ | 4,764,379) |
| Jan 30, 2021 | 1.21 | = | 6,151,953) | ÷ | 5,089,969) |
| Feb 1, 2020 | 1.52 | = | 7,398,068) | ÷ | 4,863,872) |
| Feb 2, 2019 | 2.10 | = | 6,716,615) | ÷ | 3,191,172) |
| Feb 3, 2018 | 2.02 | = | 5,884,506) | ÷ | 2,908,687) |
| Jan 28, 2017 | 1.90 | = | 4,854,737) | ÷ | 2,551,878) |
| Jan 30, 2016 | 1.76 | = | 3,924,116) | ÷ | 2,230,918) |
| Jan 31, 2015 | 1.63 | = | 3,241,369) | ÷ | 1,983,170) |
| Feb 1, 2014 | 1.67 | = | 2,670,573) | ÷ | 1,602,727) |
| Feb 2, 2013 | 1.74 | = | 2,220,256) | ÷ | 1,275,249) |
| Jan 28, 2012 | 1.86 | = | 1,776,151) | ÷ | 957,217) |
| Jan 29, 2011 | 1.99 | = | 1,454,838) | ÷ | 730,488) |
| Jan 30, 2010 | 2.21 | = | 1,222,771) | ÷ | 553,635) |
| Jan 31, 2009 | 1.91 | = | 1,084,646) | ÷ | 568,932) |
| Feb 2, 2008 | 1.94 | = | 912,141) | ÷ | 469,413) |
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
Net sales demonstrate a consistent long-term growth trajectory, increasing from $912.1 million in 2008 to $10.2 billion in 2023. Total assets grew proportionally over the same period, rising from $469.4 million to $5.37 billion. The total asset turnover ratio, which measures the efficiency of assets in generating sales, exhibited volatility characterized by periods of stability, contraction, and recovery.
- Early Performance and Gradual Decline (2008–2015)
- Between 2008 and 2012, the total asset turnover ratio remained relatively stable, peaking at 2.21 in 2010 before entering a gradual decline. By 2015, the ratio decreased to 1.63, indicating a period where asset accumulation grew at a rate that slightly outpaced sales growth.
- Operational Efficiency Peak (2016–2019)
- A recovery in efficiency is observed from 2016 to 2019, with the turnover ratio increasing steadily from 1.76 to a peak of 2.10. This trend reflects optimized asset utilization and an accelerated capacity to generate revenue from the existing asset base.
- Significant Contraction (2020–2021)
- A sharp downturn occurred between 2020 and 2021, with the ratio falling to 1.52 and reaching a period low of 1.21. This decline correlates with a substantial increase in total assets in 2020 and a notable decrease in net sales during the 2021 fiscal year.
- Recent Recovery (2022–2023)
- The final two years of the period show a strong upward trend. The total asset turnover ratio rebounded to 1.81 in 2022 and further improved to 1.90 by January 2023, signaling a restoration of operational efficiency and a return toward historical averages.
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Comparison to Competitors
Ulta Beauty Inc., total asset turnover, 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 | 1.90 | 1.09 | 2.06 | 2.22 | 1.76 |
| Jan 29, 2022 | 1.81 | 1.11 | 2.10 | 2.16 | 1.71 |
| Jan 30, 2021 | 1.21 | 1.12 | 1.87 | 1.92 | 1.04 |
| Feb 1, 2020 | 1.52 | 1.20 | 2.15 | 1.83 | 1.73 |
| Feb 2, 2019 | 2.10 | 1.25 | 2.46 | 2.07 | 2.72 |
| Feb 3, 2018 | 2.02 | 1.43 | 2.27 | 1.94 | 2.55 |
| Jan 28, 2017 | 1.90 | 1.35 | 2.20 | 1.89 | 2.58 |
| Jan 30, 2016 | 1.76 | 1.63 | 2.08 | 1.89 | 2.69 |
| Jan 31, 2015 | 1.63 | 1.64 | 2.08 | 1.77 | 2.61 |
| Feb 1, 2014 | 1.67 | 1.63 | 1.95 | 1.63 | 2.69 |
| Feb 2, 2013 | 1.74 | 1.85 | 1.82 | 1.55 | 2.72 |
| Jan 28, 2012 | 1.86 | 1.88 | 1.74 | 1.50 | 2.80 |
| Jan 29, 2011 | 1.99 | 1.90 | 1.69 | 1.45 | 2.75 |
| Jan 30, 2010 | 2.21 | 1.82 | 1.62 | 1.43 | 2.72 |
| Jan 31, 2009 | 1.91 | 1.77 | 1.73 | 1.48 | 3.08 |
| Feb 2, 2008 | 1.94 | 2.31 | 1.75 | 1.56 | 2.83 |
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., total asset turnover, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Ulta Beauty Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Jan 28, 2023 | 1.90 | 1.30 |
| Jan 29, 2022 | 1.81 | 1.33 |
| Jan 30, 2021 | 1.21 | 1.27 |
| Feb 1, 2020 | 1.52 | 1.40 |
| Feb 2, 2019 | 2.10 | 1.57 |
| Feb 3, 2018 | 2.02 | 1.71 |
| Jan 28, 2017 | 1.90 | 1.67 |
| Jan 30, 2016 | 1.76 | 1.86 |
| Jan 31, 2015 | 1.63 | 1.86 |
| Feb 1, 2014 | 1.67 | 1.80 |
| Feb 2, 2013 | 1.74 | 1.83 |
| Jan 28, 2012 | 1.86 | 1.78 |
| Jan 29, 2011 | 1.99 | 1.74 |
| Jan 30, 2010 | 2.21 | 1.68 |
| Jan 31, 2009 | 1.91 | 1.74 |
| Feb 2, 2008 | 1.94 | 1.81 |
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., total asset turnover, long-term trends, comparison to industry (consumer discretionary)
| Ulta Beauty Inc. | Consumer Discretionary | |
|---|---|---|
| Jan 28, 2023 | 1.90 | 0.97 |
| Jan 29, 2022 | 1.81 | 0.96 |
| Jan 30, 2021 | 1.21 | 0.88 |
| Feb 1, 2020 | 1.52 | 0.84 |
| Feb 2, 2019 | 2.10 | 0.94 |
| Feb 3, 2018 | 2.02 | 0.96 |
| Jan 28, 2017 | 1.90 | 0.93 |
| Jan 30, 2016 | 1.76 | 0.96 |
| Jan 31, 2015 | 1.63 | 0.98 |
| Feb 1, 2014 | 1.67 | 1.02 |
| Feb 2, 2013 | 1.74 | 1.04 |
| Jan 28, 2012 | 1.86 | 1.06 |
| Jan 29, 2011 | 1.99 | 1.08 |
| Jan 30, 2010 | 2.21 | 1.04 |
| Jan 31, 2009 | 1.91 | 0.94 |
| Feb 2, 2008 | 1.94 | 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).