ULTA · Ulta Beauty, Inc.

$537.392026-05-17

Sector: Consumer Cyclical; Industry: Specialty Retail; Sub-Industry: Other Specialty Retail

Intrinsic Value Range Comparison · Mulya.ai

Leases factored

Bull

$671

+24.8% vs market

Base · active

$593

+10.4% vs market

Bear

$581

+8.1% vs market

Mulya.ai vs Analyst IV Comparison?

Market $537

Bear $581

Base $593

Bull $671

Median $700

Market Price $537

Mulya.ai Base $593

Analysts Median $700

Mulya.ai IV range ($581 · $671)

Analysts Range ($640 · $810)

Fundamentals · historical + forward · base

italics = DCF projection

Period	Revenue	Rev Gr ?	Ops M% ?	Tax Rate ?	NOPAT ?	Reinvest ?	FCFF ?	WACC% ?	PV FCFF ?	ROIC ?	Inv. Cap ?	EPS ?	P/E
2021.Q4	$8.6B	—	15.6%	23.9%	$1.0B	−$1.7B	−$657MM	6.5%	—	38.5%	$2.7B	$21.91	—
2022.Q4	$10.2B	18.3%	17.3%	24.4%	$1.3B	−$2.1B	−$784MM	7.8%	—	45.8%	$3.2B	$27.61	—
2023.Q4	$11.2B	9.8%	16.2%	23.9%	$1.4B	−$2.4B	−$1.0B	7.5%	—	41.1%	$3.5B	$28.69	—
2024.Q4	$11.3B	0.8%	15.0%	24.0%	$1.3B	−$2.2B	−$881MM	8.2%	—	35.8%	$3.7B	$26.70	—
2025.Q4	$12.4B	9.7%	13.4%	24.5%	$1.3B	−$3.4B	−$2.1B	8.1%	—	31.6%	$4.3B	$25.64	14.5
italics below = DCF projection · 10yr Rev CAGR: 4.5%
2026.Q4	$12.3B	+-0.5%	15.6%	24.0%	$1.5B	$0MM	$1.5B	7.8%	$1.4B	34.4%	$4.3B	$30.29	17.7
2027.Q4	$13.2B	+7.3%	15.6%	23.6%	$1.6B	−$226MM	$1.4B	7.9%	$1.2B	36.1%	$4.5B	$32.69	16.4
2028.Q4	$14.0B	+5.6%	15.6%	23.1%	$1.7B	−$214MM	$1.5B	7.9%	$1.2B	36.5%	$4.7B	$34.71	15.5
2029.Q4	$14.7B	+5.2%	15.6%	22.7%	$1.8B	−$782MM	$991MM	8.0%	$731MM	34.8%	$5.5B	$36.71	14.6
2030.Q4	$15.4B	+5.0%	15.6%	22.2%	$1.9B	−$632MM	$1.2B	8.1%	$846MM	32.3%	$6.1B	$38.76	13.9

Term. Yr+	$19.9B	4.1%	13.8%	20.0%	$2.2B	−$383MM	$1.8B	8.6%	$18.5B	23.6%	—	—	—

Active scenario IV: $593 (+10.4% vs market)