Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Ulta Beauty Inc., long-term (investment) activity ratios
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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Ulta Beauty Inc. net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Ulta Beauty Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Ulta Beauty Inc. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Ulta Beauty Inc. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Net Fixed Asset Turnover
Ulta Beauty Inc., net fixed asset turnover calculation, comparison to benchmarks
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net sales | 10,208,580) | 8,630,889) | 6,151,953) | 7,398,068) | 6,716,615) | 5,884,506) | |
| Property and equipment, net | 1,009,273) | 914,476) | 995,795) | 1,205,524) | 1,226,029) | 1,189,453) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | 10.11 | 9.44 | 6.18 | 6.14 | 5.48 | 4.95 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| Amazon.com Inc. | 2.82 | 2.75 | 2.93 | 3.41 | 3.86 | — | |
| Home Depot Inc. | 6.14 | 6.00 | 5.35 | 4.84 | 4.84 | — | |
| Lowe’s Cos. Inc. | 5.53 | 5.05 | 4.68 | 3.86 | 3.87 | — | |
| TJX Cos. Inc. | 8.63 | 9.21 | 6.38 | 7.83 | 7.42 | — | |
| Net Fixed Asset Turnover, Sector | |||||||
| Consumer Discretionary Distribution & Retail | 3.47 | 3.43 | 3.46 | 3.82 | 4.20 | — | |
| Net Fixed Asset Turnover, Industry | |||||||
| Consumer Discretionary | 3.24 | 3.18 | 2.98 | 2.99 | 3.28 | — | |
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).
1 2023 Calculation
Net fixed asset turnover = Net sales ÷ Property and equipment, net
= 10,208,580 ÷ 1,009,273 = 10.11
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Ulta Beauty Inc. net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Ulta Beauty Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net sales | 10,208,580) | 8,630,889) | 6,151,953) | 7,398,068) | 6,716,615) | 5,884,506) | |
| Property and equipment, net | 1,009,273) | 914,476) | 995,795) | 1,205,524) | 1,226,029) | 1,189,453) | |
| Operating lease right-of-use assets | 1,561,263) | 1,482,256) | 1,504,614) | 1,537,565) | —) | —) | |
| Property and equipment, net (including operating lease, right-of-use asset) | 2,570,536) | 2,396,732) | 2,500,409) | 2,743,089) | 1,226,029) | 1,189,453) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 3.97 | 3.60 | 2.46 | 2.70 | 5.48 | 4.95 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| Amazon.com Inc. | 2.08 | 2.03 | 2.17 | 2.56 | 2.87 | — | |
| Home Depot Inc. | 4.83 | 4.85 | 4.31 | 3.89 | 4.84 | — | |
| Lowe’s Cos. Inc. | 4.60 | 4.15 | 3.90 | 3.20 | 3.87 | — | |
| TJX Cos. Inc. | 3.36 | 3.44 | 2.29 | 2.90 | 7.42 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Consumer Discretionary Distribution & Retail | 2.55 | 2.52 | 2.55 | 2.83 | 3.47 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Consumer Discretionary | 2.53 | 2.48 | 2.32 | 2.34 | 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).
1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 10,208,580 ÷ 2,570,536 = 3.97
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Ulta Beauty Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
Ulta Beauty Inc., total asset turnover calculation, comparison to benchmarks
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net sales | 10,208,580) | 8,630,889) | 6,151,953) | 7,398,068) | 6,716,615) | 5,884,506) | |
| Total assets | 5,370,411) | 4,764,379) | 5,089,969) | 4,863,872) | 3,191,172) | 2,908,687) | |
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | 1.90 | 1.81 | 1.21 | 1.52 | 2.10 | 2.02 | |
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| Amazon.com Inc. | 1.09 | 1.11 | 1.12 | 1.20 | 1.25 | — | |
| Home Depot Inc. | 2.06 | 2.10 | 1.87 | 2.15 | 2.46 | — | |
| Lowe’s Cos. Inc. | 2.22 | 2.16 | 1.92 | 1.83 | 2.07 | — | |
| TJX Cos. Inc. | 1.76 | 1.71 | 1.04 | 1.73 | 2.72 | — | |
| Total Asset Turnover, Sector | |||||||
| Consumer Discretionary Distribution & Retail | 1.30 | 1.33 | 1.27 | 1.40 | 1.57 | — | |
| Total Asset Turnover, Industry | |||||||
| Consumer Discretionary | 0.95 | 0.93 | 0.84 | 0.81 | 0.92 | — | |
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).
1 2023 Calculation
Total asset turnover = Net sales ÷ Total assets
= 10,208,580 ÷ 5,370,411 = 1.90
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Ulta Beauty Inc. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Equity Turnover
Ulta Beauty Inc., equity turnover calculation, comparison to benchmarks
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net sales | 10,208,580) | 8,630,889) | 6,151,953) | 7,398,068) | 6,716,615) | 5,884,506) | |
| Stockholders’ equity | 1,959,811) | 1,535,373) | 1,999,549) | 1,902,094) | 1,820,218) | 1,774,217) | |
| Long-term Activity Ratio | |||||||
| Equity turnover1 | 5.21 | 5.62 | 3.08 | 3.89 | 3.69 | 3.32 | |
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| Amazon.com Inc. | 2.85 | 3.52 | 3.40 | 4.13 | 4.52 | — | |
| Home Depot Inc. | 100.77 | — | 40.05 | — | — | — | |
| Lowe’s Cos. Inc. | — | — | 62.35 | 36.59 | 19.57 | — | |
| TJX Cos. Inc. | 7.85 | 8.09 | 5.51 | 7.01 | 7.72 | — | |
| Equity Turnover, Sector | |||||||
| Consumer Discretionary Distribution & Retail | 4.50 | 5.57 | 4.86 | 6.21 | 7.25 | — | |
| Equity Turnover, Industry | |||||||
| Consumer Discretionary | 3.85 | 4.15 | 3.60 | 4.40 | 5.13 | — | |
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).
1 2023 Calculation
Equity turnover = Net sales ÷ Stockholders’ equity
= 10,208,580 ÷ 1,959,811 = 5.21
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Ulta Beauty Inc. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |