Ulta Beauty, Inc. (ULTA) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in Ulta Beauty (ULTA) by buying shares or fractional shares at any major broker, through an ETF that holds it, or as one holding in a thematic basket. Ulta is the largest US beauty retail chain and a high-quality category leader whose moat is the 40-million-member Ultamate Rewards program and in-store salon services. Its full price-point range (Maybelline to Chanel) gives 'lipstick-effect' resilience, though competition from Sephora's Kohl's expansion has compressed its same-store growth.
ULTA stock price
As of 2026-07-23, Ulta Beauty, Inc. (ULTA) last closed at $477.96, down 6.9% over the past year. Over the past 52 weeks it has traded between $450.75 and $706.82.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Ulta Beauty, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Ulta Beauty, Inc. (ULTA) do?
Ulta Beauty operates the largest beauty retail chain in the US. The differentiation is unusual within beauty retail: Ulta sells products across the full price range, from drugstore-tier (Maybelline, L'Oréal Paris, e.l.f.) to mass-prestige (Clinique, Lancôme, Tarte) to luxury (Chanel, Dior, MAC, Pat McGrath). Each store has a salon for hair services, plus brow bars and increasingly skin services, which drives store traffic beyond just retail.
Ultamate Rewards (the loyalty program) has over 40 million active members and is one of the largest beauty loyalty programs in the world. Member purchases are over 90% of company revenue, providing detailed customer data and recurring engagement. Founded in 1990, headquartered in Bolingbrook, Illinois. Kecia Steelman became CEO in 2025, replacing Dave Kimbell.
What's driving Ulta Beauty, Inc. (ULTA)?
1. Beauty category resilience.
Beauty has historically held up well during economic downturns (the 'lipstick effect': consumers continue to indulge in affordable luxuries even when cutting other spending). Ulta's full price-point range captures spending shifts in both directions.
2. Loyalty program scale.
Ultamate Rewards with 40+ million active members provides one of the largest beauty data assets in retail. The program drives 95%+ of sales and provides a defensible structural advantage against new entrants.
3. Services as traffic driver.
Salon services (hair, brows, skin) drive store visits and tend to attach to retail purchases. The services business is a small percentage of revenue but a meaningful traffic driver.
4. Competitive intensity from Sephora.
Sephora (LVMH-owned) is the major direct competitor, particularly through the Sephora-at-Kohl's partnership that significantly expanded Sephora's US footprint. Competitive intensity has compressed Ulta's same-store sales growth in recent quarters.
What are the risks to Ulta Beauty, Inc. (ULTA)?
Sephora's expansion through Kohl's partnership has narrowed Ulta's geographic advantage. Same-store sales growth has decelerated; the question is whether this is temporary or structural. Mass beauty brand consolidation (e.g., e.l.f. taking share) creates pricing pressure.
How is Ulta Beauty, Inc. (ULTA) valued? (approximate, early 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Ulta Beauty, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$11 billion
- Operating margin: ~15%
- Net income (TTM): ~$1.2 billion
- EPS (TTM): ~$24
- P/E (TTM): ~18x
- Price to sales: ~2x
- Dividend yield: None (no dividend; share buybacks instead)
- Free cash flow: ~$1 billion annually
- Loyalty members: 40+ million active
Ulta's P/E has compressed materially from peak levels reached during 2021-2023 as same-store sales growth decelerated and Sephora competition intensified. Current valuation reflects more conservative expectations and provides margin of safety relative to the historical premium.
Which ETFs hold Ulta Beauty, Inc. (ULTA)?
If you want ULTA exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.
| ETF | Name | % in ULTA | Expense ratio | |
|---|---|---|---|---|
| XLY | Consumer Discretionary Select Sector SPDR Fund | ~0.9% | 0.09% |
What themes does Ulta Beauty, Inc. (ULTA) fit?
These are the investment theses ULTA naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.
Who competes with Ulta Beauty, Inc. (ULTA)?
Beauty specialty retail
Sephora (owned by LVMH) is the primary direct competitor and has significantly expanded its US footprint through the Sephora-at-Kohl's partnership. This is the central competitive dynamic for Ulta.
Mass retail beauty
Target, Walmart, Amazon, and CVS/Walgreens sell mass beauty products and compete for entry-level consumers. Ulta's prestige and luxury assortment is a differentiator versus mass retail.
Direct-to-consumer brands
Many beauty brands (Glossier, Drunk Elephant, Rare Beauty, Fenty) have built direct online presence and sometimes their own retail. This fragments distribution but most brands ultimately want Ulta or Sephora distribution for reach.
What stocks are similar to Ulta Beauty, Inc. (ULTA)?
Other names that show up alongside ULTA in the same themes. Worth a look if you're thinking about diversification within a single thesis rather than concentration on one ticker.
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Also fits Consumer discretionary. Discount retail concentrated on teens and tweens with long store-opening runway.
Also fits Consumer discretionary. Largest US e-commerce platform; discretionary spending captured at scale via Prime.
How to invest in Ulta Beauty, Inc. (ULTA)
There are three common ways to get ULTA exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (XLY), which spreads the position across many companies. Or build it into a focused thematic basket, so ULTA sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where ULTA fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Ulta Beauty, Inc. (ULTA)
Ulta Beauty (ULTA) is a category-leading specialty retailer whose durable loyalty franchise and services traffic offset a cyclical consumer-discretionary backdrop and intensifying Sephora competition. In a portfolio it behaves as a consumer-discretionary, quality-compounder holding tied to US beauty spending and store traffic, not a defensive or high-growth position.
More on Ulta Beauty, Inc. (ULTA)
Whether ULTA is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is ULTA a buy?, and where the stock could go from here in the ULTA stock forecast.
For income investors, whether ULTA pays a dividend and how the payout looks is covered in does ULTA pay a dividend? And to weigh ULTA against a peer, read the full side-by-side comparisons: ULTA vs COST and ULTA vs TJX.
Build a basket around ULTA with Walnut
Use Ulta Beauty, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is Ulta Beauty's ticker symbol?
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ULTA, listed on Nasdaq. Officially Ulta Beauty, Inc. Founded 1990, headquartered in Bolingbrook, Illinois. Trades during US market hours, available at every major US brokerage.
Who are Ulta's competitors?
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Sephora (LVMH-owned) is the primary direct competitor in beauty specialty retail. Sephora's expansion through the Sephora-at-Kohl's partnership has narrowed Ulta's geographic advantage. Other competition includes Target and Amazon for mass beauty, plus direct-to-consumer brands for specific niches.
Is Ulta a recession-resistant stock?
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Historically yes. The beauty category has held up well during economic downturns due to the 'lipstick effect': consumers continue to indulge in affordable luxuries even when cutting other spending. Ulta's full price-point range from mass to luxury allows it to capture spending shifts in either direction. Same-store sales held positive through the 2008 recession.
What is Ulta's P/E ratio?
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Approximately 18x trailing twelve months as of early 2026. Lower than the S&P 500 average (~22x), reflecting decelerating same-store sales growth and competitive pressure from Sephora's expansion. The multiple has compressed materially from peak levels of 2021-2023.
What does Ulta do?
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Ulta Beauty operates the largest beauty retail chain in the US. Stores sell beauty products across the full price range (mass to prestige to luxury) and include salons for hair services, brow bars, and skin services. The Ultamate Rewards loyalty program has 40+ million active members and drives 95%+ of sales.
Who owns the most Ulta stock?
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Major institutional holders include Vanguard (~10%), BlackRock (~8%), and State Street (~4%). Insider ownership is low. Ulta is broadly institutionally owned and has been a popular position in consumer-focused funds.
Which ETFs have the most Ulta exposure?
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XLY (Consumer Discretionary Select Sector SPDR) holds ULTA at ~0.9%. VCR (Vanguard Consumer Discretionary) holds at smaller weight. VOO holds ULTA at fractional weight (~0.1%). Beauty-specialty ETFs hold ULTA at higher concentrations but those funds have low AUM. ULTA's lower weight in XLY reflects its smaller market cap relative to Amazon and Tesla.
Which thematic baskets typically include Ulta?
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One theme on Walnut: Consumer discretionary (beauty retail spanning mass to prestige; lipstick-effect resilience through cycles). ULTA is sometimes included in quality-compounder baskets despite the recent multiple compression, given the durable loyalty program and category leadership.
How much of XLY is Ulta?
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Approximately 0.9% as of early 2026. ULTA is in XLY's lower-tier weights, well below the Amazon-Tesla-Home Depot top of the fund. Investors who want concentrated beauty retail exposure typically build a Walnut basket rather than rely on XLY for ULTA exposure.
Is Ulta in the S&P 500?
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Yes. ULTA was added to the S&P 500 in 2018 and has remained an index constituent. It is typically a smaller S&P 500 holding by market cap, in the lower-tier weights.
What is Ulta's market cap?
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Approximately $20 billion as of early 2026. Market cap has compressed materially from peak levels reached in 2021-2023 as same-store sales growth decelerated and competitive pressure from Sephora intensified. The current valuation provides margin of safety relative to historical premiums.
Does Ulta pay a dividend?
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No. Ulta has not paid a dividend historically and has prioritized share buybacks as the capital return mechanism. The buyback program has been substantial; share count has been declining steadily. A future dividend has been speculated about but not announced.
Is Ulta a good value stock now?
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Walnut isn't an investment adviser. Factually, the multiple has compressed from peak levels on competitive concerns. Bull case: the Ultamate Rewards loyalty franchise is durable and same-store sales should stabilize as Sephora's Kohl's expansion matures. Bear case: structural share loss to Sephora continues and beauty market growth slows. Whether ULTA fits depends on conviction in the recovery thesis.
Should I own Ulta directly or through XLY?
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Direct ULTA gives concentrated beauty retail exposure. XLY includes ULTA at only ~0.9% along with much larger weights to Amazon and Tesla. For meaningful ULTA exposure, direct ownership is necessary; XLY's weight is too small for the position to matter at the portfolio level.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Ulta Beauty, Inc.'s investor relations page or your broker before making investment decisions.