EME vs. ULTA

Last updated Jun 14, 2026

EME (EMCOR Group, Inc.) and ULTA (Ulta Beauty, Inc.) are both stocks. EME operates in Engineering & Construction (Industrials), while ULTA operates in Specialty Retail (Consumer Cyclical). Over the past 10 years, EME returned 33.61%/yr vs 7.00%/yr for ULTA. At a 0.36 correlation, their price movements are largely independent.

Performance

EME vs. ULTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in EMCOR Group, Inc. (EME) 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, EME achieves a 34.68% return, which is significantly higher than ULTA's -22.69% return. Over the past 10 years, EME has outperformed ULTA with an annualized return of 33.61%, while ULTA has yielded a comparatively lower 7.00% annualized return.

EME

• 1D: 1.42%
• 1M: -9.86%
• YTD: 34.68%
• 6M: 32.12%
• 1Y: 72.55%
• 3Y*: 67.29%
• 5Y*: 45.87%
• 10Y*: 33.61%

ULTA

• 1D: -1.82%
• 1M: -5.37%
• YTD: -22.69%
• 6M: -22.25%
• 1Y: 1.87%
• 3Y*: 1.77%
• 5Y*: 6.68%
• 10Y*: 7.00%

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

EME vs. ULTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EME EMCOR Group, Inc.	34.68%	35.05%	111.27%	46.03%	16.81%	39.93%	6.47%	45.18%	-26.68%	16.09%
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 EME and ULTA is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Oct 25, 2007	0.36

Over the past year, the correlation between EME and ULTA has dropped to 0.15 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.

Fundamentals

Market Cap EME : $37.08B ULTA : $20.56B
EPS EME : $29.65 ULTA : $26.57
PE Ratio EME : 27.76 ULTA : 17.60
PEG Ratio EME : 0.65 ULTA : 1.75
PS Ratio EME : 2.09 ULTA : 1.65
PB Ratio EME : 9.59 ULTA : 7.97
Total Revenue (TTM) EME : $17.75B ULTA : $12.71B
Gross Profit (TTM) EME : $3.47B ULTA : $5.00B
EBITDA (TTM) EME : $2.03B ULTA : $1.81B

Return for Risk

EME vs. ULTA — Risk / Return Rank

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

EME

EME Risk / Return Rank: 85
EME Sharpe Ratio Rank: 88
EME Sortino Ratio Rank: 82
EME Omega Ratio Rank: 86
EME Calmar Ratio Rank: 84
EME Martin Ratio Rank: 83

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.

EME vs. ULTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for EMCOR Group, Inc. (EME) 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.

	EME	ULTA	Difference
Sharpe ratio: Return per unit of total volatility	1.92	0.03	+1.88
Sortino ratio: Return per unit of downside risk	2.31	0.29	+2.03
Omega ratio: Gain probability vs. loss probability	1.35	1.04	+0.31
Calmar ratio: Return relative to maximum drawdown	2.94	0.03	+2.91
Martin ratio: Return relative to average drawdown	7.26	0.08	+7.18

EME vs. ULTA - Sharpe Ratio Comparison

The current EME Sharpe Ratio is 1.92, which is higher than the ULTA Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of EME 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

EME vs. ULTA - Drawdown Comparison

The maximum EME drawdown since its inception was -70.56%, smaller than the maximum ULTA drawdown of -87.89%. Use the drawdown chart below to compare losses from any high point for EME and ULTA.

Drawdown Indicators

	EME	ULTA	Difference
Max Drawdown Largest peak-to-trough decline	-70.56%	-87.89%	+17.33%
Max Drawdown (1Y) Largest decline over 1 year	-25.15%	-34.56%	+9.41%
Max Drawdown (3Y) Largest decline over 3 years	-36.19%	-44.56%	+8.37%
Max Drawdown (5Y) Largest decline over 5 years	-36.19%	-44.56%	+8.37%
Max Drawdown (10Y) Largest decline over 10 years	-48.00%	-64.92%	+16.92%
Current Drawdown Current decline from peak	-12.79%	-33.82%	+21.03%
Average Drawdown Average peak-to-trough decline	-15.36%	-20.81%	+5.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.18%	14.13%	-3.95%

Volatility

EME vs. ULTA - Volatility Comparison

EMCOR Group, Inc. (EME) has a higher volatility of 10.65% compared to Ulta Beauty, Inc. (ULTA) at 9.69%. This indicates that EME'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

	EME	ULTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.65%	9.69%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	26.55%	25.04%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	38.62%	33.39%	+5.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.44%	34.26%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.04%	38.32%	-5.28%

Dividends

EME vs. ULTA - Dividend Comparison

EME's dividend yield for the trailing twelve months is around 0.16%, while ULTA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EME EMCOR Group, Inc.	0.16%	0.16%	0.20%	0.32%	0.36%	0.41%	0.35%	0.37%	0.54%	0.39%	0.45%	0.67%
ULTA Ulta Beauty, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

EME vs. ULTA - Profitability Comparison

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

EME - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, EMCOR Group, Inc. reported a gross profit of 863.95M and revenue of 4.63B. Therefore, the gross margin over that period was 18.7%.

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%.

EME - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, EMCOR Group, Inc. reported an operating income of 403.85M and revenue of 4.63B, resulting in an operating margin of 8.7%.

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%.

EME - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, EMCOR Group, Inc. reported a net income of 305.48M and revenue of 4.63B, resulting in a net margin of 6.6%.

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 EME and ULTA in my portfolio?

EME and ULTA have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EME or ULTA?

EME has higher volatility (10.65%) compared to ULTA (9.69%). In terms of maximum drawdown, EME dropped -70.56% vs ULTA's -87.89%.

Which has better risk-adjusted returns?

EME currently has the higher Sharpe Ratio (1.92 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.