ULTA vs W
Ulta Beauty, Inc. and Wayfair Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | ULTA | W |
|---|---|---|
| Revenue | $12.4B | $12.5B |
| Net income | $1.2B | $-313.0M |
| Gross margin | 39.1% | 30.2% |
| Net margin | 9.3% | −2.5% |
| Return on equity | 43.6% | · |
| Diluted EPS | $25.64 | −$2.44 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | $1.1B | $464.0M |
| Equity | $2.8B | $-2.8B |
| Net debt / equity | −0.13× | · |
| Current ratio | 1.41× | 0.94× |
| Revenue CAGR 5y | 15.0% | −2.5% |
| Profit CAGR 5y | 45.7% | · |
ULTA and W book revenue within 15% of each other, and W closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | ULTA | W |
|---|---|---|
| FY2025 | $12.4B | $12.5B |
| FY2024 | $11.3B | $11.9B |
| FY2023 | $11.2B | $12.0B |
| FY2022 | $10.2B | $12.2B |
| FY2021 | $8.6B | $13.7B |
| FY2020 | $6.2B | $14.1B |
| FY2019 | $7.4B | $9.1B |
| FY2018 | $6.7B | $6.8B |
| FY2017 | $5.9B | $4.7B |
| FY2016 | $4.9B | $3.4B |
Bottom line
| Fiscal year | ULTA | W |
|---|---|---|
| FY2025 | $1.2B | $-313.0M |
| FY2024 | $1.2B | $-492.0M |
| FY2023 | $1.3B | $-738.0M |
| FY2022 | $1.2B | $-1.3B |
| FY2021 | $985.8M | $-131.0M |
| FY2020 | $175.8M | $185.0M |
| FY2019 | $705.9M | $-985.0M |
| FY2018 | $658.6M | $-504.1M |
| FY2017 | $555.2M | $-244.6M |
| FY2016 | $409.8M | $-194.4M |
14 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$64,180,000 | W |
| FY2024 | −$555,346,000 | W |
| FY2023 | −$795,697,000 | W |
| FY2022 | −$2,009,420,000 | W |
| FY2021 | −$5,077,111,000 | W |
| FY2020 | −$7,993,047,000 | W |
| FY2019 | −$1,728,932,000 | W |
| FY2018 | −$62,559,000 | W |
| FY2017 | +$1,163,611,000 | ULTA |
| FY2016 | +$1,474,377,000 | ULTA |
| FY2015 | +$1,674,231,000 | ULTA |
| FY2014 | +$1,922,418,000 | ULTA |
| FY2013 | +$1,754,730,000 | ULTA |
| FY2012 | +$1,619,228,000 | ULTA |
The higher-revenue side has changed between ULTA and W over this period. The gap has narrowed since the earliest year compared.
14 of 17 comparable fiscal years — a year missing data on either side is not counted.
14 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +11.8 pp | ULTA |
| FY2024 | +14.8 pp | ULTA |
| FY2023 | +17.7 pp | ULTA |
| FY2022 | +23.1 pp | ULTA |
| FY2021 | +12.4 pp | ULTA |
| FY2020 | +1.6 pp | ULTA |
| FY2019 | +20.3 pp | ULTA |
| FY2018 | +17.2 pp | ULTA |
| FY2017 | +14.6 pp | ULTA |
| FY2016 | +14.2 pp | ULTA |
| FY2015 | +11.6 pp | ULTA |
| FY2014 | +19.2 pp | ULTA |
| FY2013 | +9.3 pp | ULTA |
| FY2012 | +11.3 pp | ULTA |
ULTA has kept the higher net margin in every one of these 14 fiscal years.
14 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
W's net margin has been more volatile than ULTA's over the 14 comparable fiscal years — 3.7 percentage points of standard deviation against 2.2.
14 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
ULTA led in net margin in every one of the 14 comparable fiscal years — a structural lead, not a recent swing.
14 of 17 comparable fiscal years — a year missing data on either side is not counted.