Ulta Beauty, Inc.

Retail-Retail Stores, NEC·BOLINGBROOK, IL·FY end 01/31·CIK 1403568

CEO Pay Ratio

1,296:1

Kecia L. Steelman

CEO Total Comp

$15.4M

Kecia L. Steelman

Median Employee

$11,883

Revenue

$12.4B

FY 2025

Net Income

$1.2B

FY 2025

Free Cash Flow

$1.1B

FY 2025

Net Margin

9.3%

Insider Net (180d)

0 buys / 0 sales

CEO Pay Accountability

CEO comp as % of net income

1.34%

For every $1,000 of profit, $13.35 flows to the CEO.

CEO comp as % of buybacks

1.71%

CEO comp equals 17.1‰ of cash returned to shareholders via buybacks.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$12.4B	$11.3B	$11.2B	$10.2B	$8.6B
Gross Profit	$4.8B	$4.4B	$4.4B	$4.0B	$3.4B
Operating Income	$1.5B	$1.6B	$1.7B	$1.6B	$1.3B
Net Income	$1.2B	$1.2B	$1.3B	$1.2B	$985.8M
Operating CF	$1.5B	$1.3B	$1.5B	$1.5B	$1.1B
Capex	$434.8M	$374.5M	$435.3M	$312.1M	$172.2M
Free Cash Flow	$1.1B	$964.1M	$1.0B	$1.2B	$887.1M
Buybacks	$901.4M	$1.0B	$995.7M	$900.0M	$1.5B
Dividends	—	—	—	—	—	—

Gross Margin	39.1%	38.8%	39.1%	39.6%	39.0%
Operating Margin	12.4%	13.9%	15.0%	16.1%	15.0%
Net Margin	9.3%	10.6%	11.5%	12.2%	11.4%
FCF Margin	8.6%	8.5%	9.3%	11.5%	10.3%
R&D / Revenue	—	—	—	—	—	—
Effective Tax	—	24.0%	23.9%	24.4%	23.9%
Debt / Equity	—	—	—	—	—	—
Buybacks / FCF	84.4%	104.1%	95.7%	76.9%	171.6%

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Kecia L. SteelmanPresident Chief Executive Officer	$1.4M	$4.8M	$4.8M	$4.4M	$84.3K	$15.4M
Christopher J. DelOrefice	$154.5K	$3.3M	—	$1.0M	$13.9K	$4.5M
Rene G. Cásares	$599.5K	$634.4K	$634.4K	$2.3M	$14.5K	$4.2M
Anita J. RyanChief Human Resources Officer	$715.9K	$1.2M	$1.2M	$981.0K	$40.1K	$4.2M
Paula M. OyiboFormer Chief Financial Officer	$315.2K	$791.7K	$791.8K	—	$1.2M	$3.1M
Christopher Lialios	$488.5K	$204.5K	$87.6K	$651.4K	$23.0K	$1.5M
Jodi J. CaroFormer General Counsel and	$171.7K	—	—	—	$21.0K	$192.7K