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Ulta Beauty cash flow statement

In fiscal 2026, Ulta Beauty's operations generated $1.50bn of cash; it spent $435m on capital projects, leaving free cash flow of $1.07bn. It returned $901m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Jan 20102011Jan 20112012Jan 20122013Feb 20132014Feb 20142015Jan 20152016Jan 20162017Jan 20172018Feb 20182019Feb 20192020Feb 20202021Jan 20212022Jan 20222023Jan 20232024Feb 20242025Feb 20252026Jan 2026LTMAug 2026
Cash from operations1731772212393283973766347799561,1018101,0591,4821,4761,3391,5031,568
Depreciation and amortisation62657688106132165210253279296298268241244267301320
Stock-based pay611121316151619242726284743484337—
Capital spending6897129189226249299373441319299152172312435374435418
Free cash flow105799250102148772613396378036588871,1701,0419641,0681,149
Free cash flow after stock pay9968813786133612423146097776318401,1279939211,031—
Dividends paid———62——————————————
Share buybacks——3037401673443686166811151,5229009961,0039011,215

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Ulta Beauty's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ulta Beauty.