Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
Solvency ratio | Description | The company |
---|---|---|
Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | |
Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Ulta Beauty Inc. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | |
Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Ulta Beauty Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | |
Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Ulta Beauty Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Ulta Beauty Inc. financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level. |
Solvency ratio | Description | The company |
---|---|---|
Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Ulta Beauty Inc. fixed charge coverage ratio improved from 2021 to 2022 and from 2022 to 2023. |
Debt to Equity
Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Total debt | —) | —) | —) | —) | —) | —) | |
Stockholders’ equity | 1,959,811) | 1,535,373) | 1,999,549) | 1,902,094) | 1,820,218) | 1,774,217) | |
Solvency Ratio | |||||||
Debt to equity1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
Benchmarks | |||||||
Debt to Equity, Competitors2 | |||||||
Amazon.com Inc. | 0.39 | 0.59 | 0.54 | 0.66 | 0.83 | — | |
Home Depot Inc. | 27.65 | — | 11.29 | — | — | — | |
Lowe’s Cos. Inc. | — | — | 15.16 | 9.79 | 4.45 | — | |
TJX Cos. Inc. | 0.53 | 0.56 | 1.04 | 0.38 | 0.44 | — | |
Debt to Equity, Sector | |||||||
Consumer Discretionary Distribution & Retail | 0.82 | 1.06 | 0.93 | 1.17 | 1.44 | — | |
Debt to Equity, Industry | |||||||
Consumer Discretionary | 1.37 | 1.54 | 1.52 | 2.37 | 2.78 | — |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 0 ÷ 1,959,811 = 0.00
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. |
Debt to Equity (including Operating Lease Liability)
Ulta Beauty Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Total debt | —) | —) | —) | —) | —) | —) | |
Current operating lease liabilities | 283,293) | 274,118) | 253,415) | 239,629) | —) | —) | |
Non-current operating lease liabilities | 1,619,883) | 1,572,638) | 1,643,386) | 1,698,718) | —) | —) | |
Total debt (including operating lease liability) | 1,903,176) | 1,846,756) | 1,896,801) | 1,938,347) | —) | —) | |
Stockholders’ equity | 1,959,811) | 1,535,373) | 1,999,549) | 1,902,094) | 1,820,218) | 1,774,217) | |
Solvency Ratio | |||||||
Debt to equity (including operating lease liability)1 | 0.97 | 1.20 | 0.95 | 1.02 | 0.00 | 0.00 | |
Benchmarks | |||||||
Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
Amazon.com Inc. | 0.77 | 1.06 | 0.96 | 1.08 | 1.25 | — | |
Home Depot Inc. | 32.24 | — | 13.16 | — | — | — | |
Lowe’s Cos. Inc. | — | — | 18.24 | 12.04 | 4.45 | — | |
TJX Cos. Inc. | 2.00 | 2.08 | 2.66 | 1.93 | 0.44 | — | |
Debt to Equity (including Operating Lease Liability), Sector | |||||||
Consumer Discretionary Distribution & Retail | 1.31 | 1.67 | 1.46 | 1.76 | 1.82 | — | |
Debt to Equity (including Operating Lease Liability), Industry | |||||||
Consumer Discretionary | 1.72 | 1.94 | 1.90 | 2.84 | 3.08 | — |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 1,903,176 ÷ 1,959,811 = 0.97
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Ulta Beauty Inc. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Debt to Capital
Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Total debt | —) | —) | —) | —) | —) | —) | |
Stockholders’ equity | 1,959,811) | 1,535,373) | 1,999,549) | 1,902,094) | 1,820,218) | 1,774,217) | |
Total capital | 1,959,811) | 1,535,373) | 1,999,549) | 1,902,094) | 1,820,218) | 1,774,217) | |
Solvency Ratio | |||||||
Debt to capital1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
Benchmarks | |||||||
Debt to Capital, Competitors2 | |||||||
Amazon.com Inc. | 0.28 | 0.37 | 0.35 | 0.40 | 0.45 | — | |
Home Depot Inc. | 0.97 | 1.04 | 0.92 | 1.11 | 1.07 | — | |
Lowe’s Cos. Inc. | 1.72 | 1.24 | 0.94 | 0.91 | 0.82 | — | |
TJX Cos. Inc. | 0.35 | 0.36 | 0.51 | 0.27 | 0.31 | — | |
Debt to Capital, Sector | |||||||
Consumer Discretionary Distribution & Retail | 0.45 | 0.51 | 0.48 | 0.54 | 0.59 | — | |
Debt to Capital, Industry | |||||||
Consumer Discretionary | 0.58 | 0.61 | 0.60 | 0.70 | 0.74 | — |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 0 ÷ 1,959,811 = 0.00
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. |
Debt to Capital (including Operating Lease Liability)
Ulta Beauty Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Total debt | —) | —) | —) | —) | —) | —) | |
Current operating lease liabilities | 283,293) | 274,118) | 253,415) | 239,629) | —) | —) | |
Non-current operating lease liabilities | 1,619,883) | 1,572,638) | 1,643,386) | 1,698,718) | —) | —) | |
Total debt (including operating lease liability) | 1,903,176) | 1,846,756) | 1,896,801) | 1,938,347) | —) | —) | |
Stockholders’ equity | 1,959,811) | 1,535,373) | 1,999,549) | 1,902,094) | 1,820,218) | 1,774,217) | |
Total capital (including operating lease liability) | 3,862,987) | 3,382,129) | 3,896,350) | 3,840,441) | 1,820,218) | 1,774,217) | |
Solvency Ratio | |||||||
Debt to capital (including operating lease liability)1 | 0.49 | 0.55 | 0.49 | 0.50 | 0.00 | 0.00 | |
Benchmarks | |||||||
Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
Amazon.com Inc. | 0.43 | 0.51 | 0.49 | 0.52 | 0.56 | — | |
Home Depot Inc. | 0.97 | 1.04 | 0.93 | 1.09 | 1.07 | — | |
Lowe’s Cos. Inc. | 1.60 | 1.20 | 0.95 | 0.92 | 0.82 | — | |
TJX Cos. Inc. | 0.67 | 0.68 | 0.73 | 0.66 | 0.31 | — | |
Debt to Capital (including Operating Lease Liability), Sector | |||||||
Consumer Discretionary Distribution & Retail | 0.57 | 0.63 | 0.59 | 0.64 | 0.65 | — | |
Debt to Capital (including Operating Lease Liability), Industry | |||||||
Consumer Discretionary | 0.63 | 0.66 | 0.65 | 0.74 | 0.76 | — |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 1,903,176 ÷ 3,862,987 = 0.49
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Ulta Beauty Inc. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Debt to Assets
Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Total debt | —) | —) | —) | —) | —) | —) | |
Total assets | 5,370,411) | 4,764,379) | 5,089,969) | 4,863,872) | 3,191,172) | 2,908,687) | |
Solvency Ratio | |||||||
Debt to assets1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
Benchmarks | |||||||
Debt to Assets, Competitors2 | |||||||
Amazon.com Inc. | 0.15 | 0.19 | 0.18 | 0.19 | 0.23 | — | |
Home Depot Inc. | 0.57 | 0.56 | 0.53 | 0.61 | 0.66 | — | |
Lowe’s Cos. Inc. | 0.78 | 0.55 | 0.47 | 0.49 | 0.47 | — | |
TJX Cos. Inc. | 0.12 | 0.12 | 0.20 | 0.09 | 0.16 | — | |
Debt to Assets, Sector | |||||||
Consumer Discretionary Distribution & Retail | 0.24 | 0.25 | 0.24 | 0.26 | 0.31 | — | |
Debt to Assets, Industry | |||||||
Consumer Discretionary | 0.34 | 0.35 | 0.36 | 0.41 | 0.45 | — |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 0 ÷ 5,370,411 = 0.00
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. |
Debt to Assets (including Operating Lease Liability)
Ulta Beauty Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Total debt | —) | —) | —) | —) | —) | —) | |
Current operating lease liabilities | 283,293) | 274,118) | 253,415) | 239,629) | —) | —) | |
Non-current operating lease liabilities | 1,619,883) | 1,572,638) | 1,643,386) | 1,698,718) | —) | —) | |
Total debt (including operating lease liability) | 1,903,176) | 1,846,756) | 1,896,801) | 1,938,347) | —) | —) | |
Total assets | 5,370,411) | 4,764,379) | 5,089,969) | 4,863,872) | 3,191,172) | 2,908,687) | |
Solvency Ratio | |||||||
Debt to assets (including operating lease liability)1 | 0.35 | 0.39 | 0.37 | 0.40 | 0.00 | 0.00 | |
Benchmarks | |||||||
Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
Amazon.com Inc. | 0.29 | 0.33 | 0.31 | 0.31 | 0.34 | — | |
Home Depot Inc. | 0.66 | 0.64 | 0.62 | 0.73 | 0.66 | — | |
Lowe’s Cos. Inc. | 0.87 | 0.66 | 0.56 | 0.60 | 0.47 | — | |
TJX Cos. Inc. | 0.45 | 0.44 | 0.50 | 0.47 | 0.16 | — | |
Debt to Assets (including Operating Lease Liability), Sector | |||||||
Consumer Discretionary Distribution & Retail | 0.38 | 0.40 | 0.38 | 0.40 | 0.39 | — | |
Debt to Assets (including Operating Lease Liability), Industry | |||||||
Consumer Discretionary | 0.43 | 0.44 | 0.45 | 0.50 | 0.50 | — |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 1,903,176 ÷ 5,370,411 = 0.35
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Ulta Beauty Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Financial Leverage
Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Total assets | 5,370,411) | 4,764,379) | 5,089,969) | 4,863,872) | 3,191,172) | 2,908,687) | |
Stockholders’ equity | 1,959,811) | 1,535,373) | 1,999,549) | 1,902,094) | 1,820,218) | 1,774,217) | |
Solvency Ratio | |||||||
Financial leverage1 | 2.74 | 3.10 | 2.55 | 2.56 | 1.75 | 1.64 | |
Benchmarks | |||||||
Financial Leverage, Competitors2 | |||||||
Amazon.com Inc. | 2.61 | 3.17 | 3.04 | 3.44 | 3.63 | — | |
Home Depot Inc. | 48.94 | — | 21.39 | — | — | — | |
Lowe’s Cos. Inc. | — | — | 32.52 | 20.02 | 9.47 | — | |
TJX Cos. Inc. | 4.45 | 4.74 | 5.28 | 4.06 | 2.84 | — | |
Financial Leverage, Sector | |||||||
Consumer Discretionary Distribution & Retail | 3.46 | 4.18 | 3.82 | 4.44 | 4.62 | — | |
Financial Leverage, Industry | |||||||
Consumer Discretionary | 4.00 | 4.38 | 4.26 | 5.72 | 6.22 | — |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 5,370,411 ÷ 1,959,811 = 2.74
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Ulta Beauty Inc. financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level. |
Interest Coverage
Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Net income | 1,242,408) | 985,837) | 175,835) | 705,945) | 658,559) | 555,234) | |
Add: Income tax expense | 401,136) | 309,992) | 55,250) | 200,205) | 200,582) | 231,625) | |
Add: Interest expense | —) | —) | —) | —) | —) | —) | |
Earnings before interest and tax (EBIT) | 1,643,544) | 1,295,829) | 231,085) | 906,150) | 859,141) | 786,859) | |
Solvency Ratio | |||||||
Interest coverage1 | — | — | — | — | — | — | |
Benchmarks | |||||||
Interest Coverage, Competitors2 | |||||||
Amazon.com Inc. | 12.80 | -1.51 | 22.09 | 15.69 | 9.73 | — | |
Home Depot Inc. | 14.90 | 17.14 | 13.60 | 13.25 | 14.85 | — | |
Lowe’s Cos. Inc. | 8.79 | 13.49 | 9.88 | 8.83 | 6.21 | — | |
TJX Cos. Inc. | 56.19 | 37.80 | 1.46 | 75.57 | 65.36 | — | |
Interest Coverage, Sector | |||||||
Consumer Discretionary Distribution & Retail | 13.19 | 7.64 | 15.91 | 14.50 | 11.71 | — | |
Interest Coverage, Industry | |||||||
Consumer Discretionary | 12.27 | 9.45 | 13.29 | 7.81 | 9.65 | — |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 1,643,544 ÷ 0 = —
2 Click competitor name to see calculations.
Fixed Charge Coverage
Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Net income | 1,242,408) | 985,837) | 175,835) | 705,945) | 658,559) | 555,234) | |
Add: Income tax expense | 401,136) | 309,992) | 55,250) | 200,205) | 200,582) | 231,625) | |
Add: Interest expense | —) | —) | —) | —) | —) | —) | |
Earnings before interest and tax (EBIT) | 1,643,544) | 1,295,829) | 231,085) | 906,150) | 859,141) | 786,859) | |
Add: Operating lease cost | 322,195) | 311,546) | 304,743) | 289,007) | 262,275) | 241,559) | |
Earnings before fixed charges and tax | 1,965,739) | 1,607,375) | 535,828) | 1,195,157) | 1,121,416) | 1,028,418) | |
Interest expense | —) | —) | —) | —) | —) | —) | |
Operating lease cost | 322,195) | 311,546) | 304,743) | 289,007) | 262,275) | 241,559) | |
Fixed charges | 322,195) | 311,546) | 304,743) | 289,007) | 262,275) | 241,559) | |
Solvency Ratio | |||||||
Fixed charge coverage1 | 6.10 | 5.16 | 1.76 | 4.14 | 4.28 | 4.26 | |
Benchmarks | |||||||
Fixed Charge Coverage, Competitors2 | |||||||
Amazon.com Inc. | 3.73 | 0.47 | 5.24 | 4.63 | 3.65 | — | |
Home Depot Inc. | 9.07 | 9.94 | 8.97 | 8.26 | 7.80 | — | |
Lowe’s Cos. Inc. | 5.77 | 8.02 | 6.05 | 5.04 | 3.68 | — | |
TJX Cos. Inc. | 3.31 | 3.17 | 1.04 | 3.43 | 3.39 | — | |
Fixed Charge Coverage, Sector | |||||||
Consumer Discretionary Distribution & Retail | 4.61 | 2.82 | 5.29 | 5.11 | 4.46 | — | |
Fixed Charge Coverage, Industry | |||||||
Consumer Discretionary | 4.98 | 3.70 | 5.63 | 3.72 | 4.20 | — |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 1,965,739 ÷ 322,195 = 6.10
2 Click competitor name to see calculations.
Solvency ratio | Description | The company |
---|---|---|
Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Ulta Beauty Inc. fixed charge coverage ratio improved from 2021 to 2022 and from 2022 to 2023. |