Stock Analysis on Net
Stock Analysis on Net

Ulta Beauty Inc. (NASDAQ:ULTA)

This company has been moved to the archive! The financial data has not been updated since August 24, 2023.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Ulta Beauty Inc., FCFE calculation

US$ in thousands

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12 months ended: Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018
Net income 1,242,408 985,837 175,835 705,945 658,559 555,234
Net noncash charges 608,669 571,640 648,778 610,817 343,073 257,535
Change in operating assets and liabilities (369,162) (498,212) (14,258) (215,469) (45,505) (33,403)
Net cash provided by operating activities 1,481,915 1,059,265 810,355 1,101,293 956,127 779,366
Capital expenditures (312,126) (172,187) (151,866) (298,534) (319,400) (440,714)
Proceeds from long-term debt — — 800,000 — — —
Payments on long-term debt — — (800,000) — — —
Debt issuance costs — — (1,915) — — (583)
Free cash flow to equity (FCFE) 1,169,789 887,078 656,574 802,759 636,727 338,069

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Ulta Beauty Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Ulta Beauty Inc. FCFE increased from 2021 to 2022 and from 2022 to 2023.

Price to FCFE Ratio, Current

Ulta Beauty Inc., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 49,228,649
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) 1,169,789
FCFE per share 23.76
Current share price (P) 422.74
Valuation Ratio
P/FCFE 17.79
Benchmarks
P/FCFE, Competitors1
Amazon.com Inc. 85.54
Home Depot Inc. 17.80
Lowe’s Cos. Inc. 16.35
TJX Cos. Inc. 27.58
P/FCFE, Sector
Consumer Discretionary Distribution & Retail 43.50
P/FCFE, Industry
Consumer Discretionary 31.23

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

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Ulta Beauty Inc., historical P/FCFE calculation, comparison to benchmarks

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Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018
No. shares of common stock outstanding1 50,195,089 52,327,263 56,205,592 56,309,476 58,803,744 60,611,334
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 1,169,789 887,078 656,574 802,759 636,727 338,069
FCFE per share3 23.30 16.95 11.68 14.26 10.83 5.58
Share price1, 4 513.98 395.07 303.00 174.45 347.30 204.38
Valuation Ratio
P/FCFE5 22.05 23.30 25.94 12.24 32.07 36.64
Benchmarks
P/FCFE, Competitors6
Amazon.com Inc. 84.16 240.95 — 55.66 63.35 —
Home Depot Inc. 19.60 19.87 15.41 14.99 16.61 —
Lowe’s Cos. Inc. 7.08 13.55 12.28 8.69 20.45 —
TJX Cos. Inc. 33.59 — 10.55 19.71 21.79 —
P/FCFE, Sector
Consumer Discretionary Distribution & Retail 41.58 51.89 59.10 38.09 38.19 —
P/FCFE, Industry
Consumer Discretionary 32.07 38.31 86.53 30.52 28.87 —

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 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 1,169,789,000 ÷ 50,195,089 = 23.30

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

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 513.98 ÷ 23.30 = 22.05

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Ulta Beauty Inc. P/FCFE ratio decreased from 2021 to 2022 and from 2022 to 2023.