ULTA vs. HD

Last updated Apr 1, 2026

Compare and contrast key facts about Ulta Beauty, Inc. (ULTA) and The Home Depot, Inc. (HD).

Performance

ULTA vs. HD - Performance Comparison

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

ULTA vs. HD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ULTA Ulta Beauty, Inc.	-13.60%	39.11%	-11.24%	4.46%	13.76%	43.59%	13.44%	3.39%	9.47%	-12.27%
HD The Home Depot, Inc.	-3.78%	-9.33%	15.00%	12.77%	-21.98%	59.51%	24.50%	30.56%	-7.30%	44.61%

Fundamentals

Market Cap ULTA : $23.27B HD : $327.90B
EPS ULTA : $25.63 HD : $14.23
PE Ratio ULTA : 20.40 HD : 23.11
PS Ratio ULTA : 1.90 HD : 1.99
PB Ratio ULTA : 8.30 HD : 25.59
Total Revenue (TTM) ULTA : $12.39B HD : $164.68B
Gross Profit (TTM) ULTA : $4.85B HD : $54.87B
EBITDA (TTM) ULTA : $1.76B HD : $24.24B

Returns By Period

In the year-to-date period, ULTA achieves a -13.60% return, which is significantly lower than HD's -3.78% return. Over the past 10 years, ULTA has underperformed HD with an annualized return of 10.41%, while HD has yielded a comparatively higher 11.97% annualized return.

ULTA

• 1D: 2.47%
• 1M: -23.67%
• YTD: -13.60%
• 6M: -4.40%
• 1Y: 42.61%
• 3Y*: -1.42%
• 5Y*: 10.76%
• 10Y*: 10.41%

HD

• 1D: 1.67%
• 1M: -13.04%
• YTD: -3.78%
• 6M: -17.76%
• 1Y: -7.99%
• 3Y*: 6.33%
• 5Y*: 3.84%
• 10Y*: 11.97%

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

Return for Risk

ULTA vs. HD — Risk / Return Rank

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

ULTA

ULTA Risk / Return Rank: 77
ULTA Sharpe Ratio Rank: 79
ULTA Sortino Ratio Rank: 75
ULTA Omega Ratio Rank: 76
ULTA Calmar Ratio Rank: 74
ULTA Martin Ratio Rank: 82

HD

HD Risk / Return Rank: 28
HD Sharpe Ratio Rank: 26
HD Sortino Ratio Rank: 23
HD Omega Ratio Rank: 23
HD Calmar Ratio Rank: 35
HD Martin Ratio Rank: 33

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.

ULTA vs. HD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ulta Beauty, Inc. (ULTA) and The Home Depot, Inc. (HD). 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.

	ULTA	HD	Difference
Sharpe ratio Return per unit of total volatility	1.16	-0.34	+1.50
Sortino ratio Return per unit of downside risk	1.80	-0.36	+2.16
Omega ratio Gain probability vs. loss probability	1.25	0.96	+0.29
Calmar ratio Return relative to maximum drawdown	1.63	-0.25	+1.88
Martin ratio Return relative to average drawdown	6.25	-0.58	+6.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ULTA vs. HD - Sharpe Ratio Comparison

The current ULTA Sharpe Ratio is 1.16, which is higher than the HD Sharpe Ratio of -0.34. The chart below compares the historical Sharpe Ratios of ULTA and HD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ULTA	HD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	-0.34	+1.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.16	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	0.49	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.69	-0.31

Correlation

The correlation between ULTA and HD is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ULTA vs. HD - Dividend Comparison

ULTA has not paid dividends to shareholders, while HD's dividend yield for the trailing twelve months is around 2.81%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
HD The Home Depot, Inc.	2.81%	2.67%	2.31%	2.41%	2.41%	1.59%	2.26%	2.49%	2.40%	1.88%	2.06%	1.78%

Drawdowns

ULTA vs. HD - Drawdown Comparison

The maximum ULTA drawdown since its inception was -87.89%, which is greater than HD's maximum drawdown of -70.46%. Use the drawdown chart below to compare losses from any high point for ULTA and HD.

Drawdown Indicators

	ULTA	HD	Difference
Max Drawdown Largest peak-to-trough decline	-87.89%	-70.46%	-17.43%
Max Drawdown (1Y) Largest decline over 1 year	-27.83%	-23.25%	-4.58%
Max Drawdown (5Y) Largest decline over 5 years	-44.56%	-34.73%	-9.83%
Max Drawdown (10Y) Largest decline over 10 years	-64.92%	-37.99%	-26.93%
Current Drawdown Current decline from peak	-26.05%	-21.33%	-4.72%
Average Drawdown Average peak-to-trough decline	-20.74%	-20.59%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.26%	10.17%	-2.91%

Volatility

ULTA vs. HD - Volatility Comparison

Ulta Beauty, Inc. (ULTA) has a higher volatility of 17.00% compared to The Home Depot, Inc. (HD) at 7.23%. This indicates that ULTA's price experiences larger fluctuations and is considered to be riskier than HD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULTA	HD	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.00%	7.23%	+9.77%
Volatility (6M) Calculated over the trailing 6-month period	26.68%	16.87%	+9.81%
Volatility (1Y) Calculated over the trailing 1-year period	37.09%	23.38%	+13.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.22%	23.75%	+10.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.29%	24.61%	+13.68%

Financials

ULTA vs. HD - Profitability Comparison

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

ULTA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Ulta Beauty, Inc. reported a gross profit of 1.48B and revenue of 3.90B. Therefore, the gross margin over that period was 38.1%.

HD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, The Home Depot, Inc. reported a gross profit of 12.47B and revenue of 38.20B. Therefore, the gross margin over that period was 32.6%.

ULTA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Ulta Beauty, Inc. reported an operating income of 464.68M and revenue of 3.90B, resulting in an operating margin of 11.9%.

HD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, The Home Depot, Inc. reported an operating income of 3.85B and revenue of 38.20B, resulting in an operating margin of 10.1%.

ULTA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Ulta Beauty, Inc. reported a net income of 356.68M and revenue of 3.90B, resulting in a net margin of 9.2%.

HD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, The Home Depot, Inc. reported a net income of 2.57B and revenue of 38.20B, resulting in a net margin of 6.7%.