ANET vs. ULTA

Last updated Jun 13, 2026

ANET (Arista Networks, Inc.) and ULTA (Ulta Beauty, Inc.) are both stocks. ANET operates in Computer Hardware (Technology), while ULTA operates in Specialty Retail (Consumer Cyclical). Over the past 10 years, ANET returned 43.12%/yr vs 7.00%/yr for ULTA. At a 0.25 correlation, their price movements are largely independent.

Performance

ANET vs. ULTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arista Networks, Inc. (ANET) and Ulta Beauty, Inc. (ULTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ANET achieves a 24.58% return, which is significantly higher than ULTA's -22.69% return. Over the past 10 years, ANET has outperformed ULTA with an annualized return of 43.12%, while ULTA has yielded a comparatively lower 7.00% annualized return.

ANET

• 1D: 4.37%
• 1M: 16.03%
• YTD: 24.58%
• 6M: 30.84%
• 1Y: 70.45%
• 3Y*: 57.04%
• 5Y*: 48.31%
• 10Y*: 43.12%

ULTA

• 1D: -1.82%
• 1M: -4.96%
• YTD: -22.69%
• 6M: -22.25%
• 1Y: 1.15%
• 3Y*: 1.77%
• 5Y*: 6.68%
• 10Y*: 7.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ANET vs. ULTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANET Arista Networks, Inc.	24.58%	18.55%	87.73%	94.07%	-15.58%	97.89%	42.86%	-3.46%	-10.56%	143.44%
ULTA Ulta Beauty, Inc.	-22.69%	39.11%	-11.24%	4.46%	13.76%	43.59%	13.44%	3.39%	9.47%	-12.27%

Correlation

The correlation between ANET and ULTA is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014	0.25

The correlation between ANET and ULTA shifts across timeframes, from 0.09 (1 year) to 0.27 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ANET : $207.94B ULTA : $20.56B
EPS ANET : $2.92 ULTA : $26.57
PE Ratio ANET : 55.91 ULTA : 17.60
PEG Ratio ANET : 1.31 ULTA : 1.75
PS Ratio ANET : 21.42 ULTA : 1.65
PB Ratio ANET : 15.42 ULTA : 7.97
Total Revenue (TTM) ANET : $9.71B ULTA : $12.71B
Gross Profit (TTM) ANET : $6.17B ULTA : $5.00B
EBITDA (TTM) ANET : $4.21B ULTA : $1.81B

Return for Risk

ANET vs. ULTA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ANET

ANET Risk / Return Rank: 78
ANET Sharpe Ratio Rank: 80
ANET Sortino Ratio Rank: 75
ANET Omega Ratio Rank: 74
ANET Calmar Ratio Rank: 80
ANET Martin Ratio Rank: 78

ULTA

ULTA Risk / Return Rank: 42
ULTA Sharpe Ratio Rank: 44
ULTA Sortino Ratio Rank: 38
ULTA Omega Ratio Rank: 39
ULTA Calmar Ratio Rank: 43
ULTA Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ANET vs. ULTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arista Networks, Inc. (ANET) and Ulta Beauty, Inc. (ULTA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ANET	ULTA	Difference
Sharpe ratio: Return per unit of total volatility	1.32	0.03	+1.29
Sortino ratio: Return per unit of downside risk	1.90	0.29	+1.62
Omega ratio: Gain probability vs. loss probability	1.24	1.04	+0.20
Calmar ratio: Return relative to maximum drawdown	2.50	0.03	+2.47
Martin ratio: Return relative to average drawdown	5.20	0.08	+5.12

ANET vs. ULTA - Sharpe Ratio Comparison

The current ANET Sharpe Ratio is 1.32, which is higher than the ULTA Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of ANET and ULTA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ANET vs. ULTA - Drawdown Comparison

The maximum ANET drawdown since its inception was -52.20%, smaller than the maximum ULTA drawdown of -87.89%. Use the drawdown chart below to compare losses from any high point for ANET and ULTA.

Drawdown Indicators

	ANET	ULTA	Difference
Max Drawdown Largest peak-to-trough decline	-52.20%	-87.89%	+35.69%
Max Drawdown (1Y) Largest decline over 1 year	-28.33%	-34.56%	+6.23%
Max Drawdown (3Y) Largest decline over 3 years	-50.42%	-44.56%	-5.86%
Max Drawdown (5Y) Largest decline over 5 years	-50.42%	-44.56%	-5.86%
Max Drawdown (10Y) Largest decline over 10 years	-52.20%	-64.92%	+12.72%
Current Drawdown Current decline from peak	-8.15%	-33.82%	+25.67%
Average Drawdown Average peak-to-trough decline	-15.39%	-20.81%	+5.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.60%	14.13%	-0.53%

Volatility

ANET vs. ULTA - Volatility Comparison

Arista Networks, Inc. (ANET) has a higher volatility of 16.62% compared to Ulta Beauty, Inc. (ULTA) at 9.69%. This indicates that ANET's price experiences larger fluctuations and is considered to be riskier than ULTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ANET	ULTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.62%	9.69%	+6.93%
Volatility (6M) Calculated over the trailing 6-month period	40.79%	25.04%	+15.75%
Volatility (1Y) Calculated over the trailing 1-year period	53.57%	33.39%	+20.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.23%	34.26%	+12.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.00%	38.32%	+6.68%

Dividends

ANET vs. ULTA - Dividend Comparison

Neither ANET nor ULTA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

ANET vs. ULTA - Profitability Comparison

The chart below illustrates the profitability comparison between Arista Networks, Inc. and Ulta Beauty, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ANET - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Arista Networks, Inc. reported a gross profit of 1.68B and revenue of 2.71B. Therefore, the gross margin over that period was 61.9%.

ULTA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ulta Beauty, Inc. reported a gross profit of 1.27B and revenue of 3.16B. Therefore, the gross margin over that period was 40.1%.

ANET - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Arista Networks, Inc. reported an operating income of 1.16B and revenue of 2.71B, resulting in an operating margin of 42.7%.

ULTA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ulta Beauty, Inc. reported an operating income of 448.26M and revenue of 3.16B, resulting in an operating margin of 14.2%.

ANET - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Arista Networks, Inc. reported a net income of 1.02B and revenue of 2.71B, resulting in a net margin of 37.8%.

ULTA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ulta Beauty, Inc. reported a net income of 340.47M and revenue of 3.16B, resulting in a net margin of 10.8%.

Frequently Asked Questions

Can I hold both ANET and ULTA in my portfolio?

ANET and ULTA have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ANET or ULTA?

ANET has higher volatility (16.62%) compared to ULTA (9.69%). In terms of maximum drawdown, ANET dropped -52.20% vs ULTA's -87.89%.

Which has better risk-adjusted returns?

ANET currently has the higher Sharpe Ratio (1.32 vs 0.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.