Name: Ulta Beauty Inc. (NASDAQ:ULTA) | Enterprise Value (EV)
Creator: Stock Analysis on Net

Current EV
Historical EV

Ulta Beauty Inc., current enterprise value calculation

Current share price (P)	$422.74
No. shares of common stock outstanding	49,228,649
US$ in thousands
Common equity (market value)¹	20,810,919)
Total equity	20,810,919)
Add: Total debt (book value)	—)
Total equity and debt	20,810,919)
Less: Cash and cash equivalents	737,877)
Less: Short-term investments	—)
Enterprise value (EV)	20,073,042)

Based on: 10-K (reporting date: 2023-01-28).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 422.74 × 49,228,649

Download chart

Ulta Beauty Inc., EV calculation

	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018
Share price^1, 2	$513.98	$395.07	$303.00	$174.45	$347.30	$204.38
No. shares of common stock outstanding¹	50,195,089	52,327,263	56,205,592	56,309,476	58,803,744	60,611,334
US$ in thousands
Common equity (market value)³	25,799,272)	20,672,932)	17,030,294)	9,823,188)	20,422,540)	12,387,744)
Total equity	25,799,272)	20,672,932)	17,030,294)	9,823,188)	20,422,540)	12,387,744)
Add: Total debt (book value)	—)	—)	—)	—)	—)	—)
Total equity and debt	25,799,272)	20,672,932)	17,030,294)	9,823,188)	20,422,540)	12,387,744)
Less: Cash and cash equivalents	737,877)	431,560)	1,046,051)	392,325)	409,251)	277,445)
Less: Short-term investments	—)	—)	—)	110,000)	—)	120,000)
Enterprise value (EV)	25,061,395)	20,241,372)	15,984,243)	9,320,863)	20,013,289)	11,990,299)

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 Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Ulta Beauty Inc. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 513.98 × 50,195,089

The enterprise value (EV) exhibits a volatile but overall upward trajectory from 2018 to 2023. A significant contraction occurred in 2020, followed by a consistent multi-year recovery that culminated in the highest valuation within the analyzed period.

Valuation Volatility and Recovery: A sharp decline in enterprise value is observed between February 2019 and February 2020, where the value dropped from approximately US$ 20.01 billion to US$ 9.32 billion. This contraction was followed by a steady ascent, with EV increasing to US$ 15.98 billion in 2021 and eventually reaching US$ 25.06 billion by January 2023.
Relationship Between Equity and Enterprise Value: The enterprise value closely tracks the market value of common equity throughout the period. Notably, the enterprise value remains consistently lower than the market value of equity across all periods, which indicates a net cash position where cash and cash equivalents exceed total debt.
Capital Structure Observations: Total equity and total equity and debt maintain identical values to the common equity market value across the entire timeframe. This suggests a capital structure primarily driven by equity valuation with negligible impact from long-term debt obligations.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Ulta Beauty Inc. (NASDAQ:ULTA)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)