Ulta Beauty vs Winmark
Ulta Beauty reported revenue of $12.4 billion in fiscal 2025, 143.9 times Winmark's $86 million in fiscal 2025. Ulta Beauty's revenue grew 9.7% in its latest year, and Winmark's grew 5.9%. Ulta Beauty had an operating margin of 12.4%, against 63.4% at Winmark. Free cash flow was $1.1 billion at Ulta Beauty and $45 million at Winmark. Their fiscal years end in different months (January 31 and December 27), so the periods don't line up exactly.
Side by side
| Ulta Beauty | Winmark | |
|---|---|---|
| Latest fiscal year | FY2025, Jan 31, 2026 | FY2025, Dec 27, 2025 |
| Revenue | $12.4B | $86M |
| Revenue growth | 9.7% | 5.9% |
| Revenue growth a year, last 5 years | 15.0% | 5.4% |
| Gross margin | 39.1% | 96.4% |
| Operating margin | 12.4% | 63.4% |
| Net margin | 9.3% | 48.4% |
| Free cash flow | $1.1B | $45M |
| Free cash flow margin | 8.6% | 52.0% |
| Return on capital | 55.8% | — |
| Net debt to EBITDA | −0.2x | 0.4x |
| Dividends and buybacks | $901M | $52M |
| Change in diluted share count | −5.1% | 0.5% |
| Last close | $625.33 | $282.29 |
| P/E at the last close | 22.8× | 25.2× |
| Insider trades, last 12 months | sold $1.8 million | sold $3.6 million |
| Piotroski F-score | 6 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Ulta BeautyWinmark
Operating margin
Percent of revenue
Ulta BeautyWinmark
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Ulta BeautyWinmark
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Ulta Beauty and Winmark pages.