Ulta Beauty Inc (ULTA)

Return on equity (ROE)

		Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Feb 3, 2024	Jan 31, 2024	Oct 31, 2023	Oct 28, 2023	Jul 31, 2023	Jul 29, 2023	Apr 30, 2023	Apr 29, 2023	Jan 31, 2023	Jan 28, 2023	Oct 31, 2022	Oct 29, 2022	Jul 31, 2022	Jul 30, 2022	Apr 30, 2022	Jan 31, 2022
Net income (ttm)	US$ in thousands	1,201,118	1,202,217	1,354,407	1,351,334	1,287,704	1,193,437	1,099,170	1,196,738	1,294,306	1,334,955	1,375,604	1,303,138	1,230,672	1,185,598	1,140,524	1,197,334	1,212,115	1,205,804	1,125,416	1,009,310
Total stockholders’ equity	US$ in thousands	2,488,350	2,329,010	2,348,160	2,300,740	2,279,330	2,279,330	2,028,540	2,028,540	2,051,880	2,051,880	2,018,070	2,018,070	1,959,810	1,959,810	1,922,260	1,922,260	1,769,070	1,769,070	1,745,620	1,535,370
ROE		48.27%	51.62%	57.68%	58.73%	56.49%	52.36%	54.19%	59.00%	63.08%	65.06%	68.16%	64.57%	62.80%	60.50%	59.33%	62.29%	68.52%	68.16%	64.47%	65.74%

January 31, 2025 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $1,201,118K ÷ $2,488,350K
= 48.27%

Ulta Beauty Inc's Return on Equity (ROE) has shown fluctuating trends over the periods. The ROE started at a high of 65.74% in January 2022 and maintained levels above 60% until October 2023. However, a decreasing trend was observed after October 2023, dropping to 48.27% by January 2025. This decline in ROE indicates that Ulta Beauty's ability to generate profits from its shareholders' equity has weakened in recent periods. Further analysis of the underlying factors affecting profitability and efficiency may be necessary to understand the reasons behind the decreasing ROE trend.