Ulta Beauty Inc (ULTA)

Debt-to-capital ratio

		Feb 3, 2024	Oct 28, 2023	Jul 29, 2023	Apr 29, 2023	Jan 28, 2023	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 30, 2021	Oct 31, 2020	Aug 1, 2020	May 2, 2020	Feb 1, 2020	Nov 2, 2019	Aug 3, 2019	May 4, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	800,000	800,000	—	—	—	—
Total stockholders’ equity	US$ in thousands	2,279,330	2,028,540	2,051,880	2,018,070	1,959,810	1,922,260	1,769,070	1,745,620	1,535,370	1,986,800	1,879,810	1,844,720	1,999,550	1,854,440	1,770,790	1,753,960	1,902,090	1,847,160	1,839,450	1,941,570
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.31	0.31	0.00	0.00	0.00	0.00

February 3, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,279,330K)
= 0.00

The debt-to-capital ratio for Ulta Beauty Inc has been consistently at 0.00 for most of the recent quarters, indicating that the company has been operating with minimal debt relative to its total capital. However, there was a notable increase to 0.31 in both August 1, 2020, and May 2, 2020. This suggests that during these periods, the company had a relatively higher level of debt compared to its capital. Overall, the trend of predominantly low or zero debt-to-capital ratios reflects a conservative approach to financing operations and investments, which may indicate a lower financial risk and potential stability in the company's capital structure.