$Ulta Beauty (ULTA.US)$ 🎯 2024.3.27 The current price is 50...

New data: 24Q4, revenue continued to grow, gross margin stopped falling, operating profit resumed growth of 15.7%, and net profit resumed growth of 15.7%.

Revenue increased by 9.8% in 2024. Operating profit increased by only 2.3% due to a decline in gross margin and a sharp increase in expenses. Interest income increased sharply, net profit increased by 3.9%, and the average 5-year net profit growth rate fell to 14%.

The balance ratio fell from 63.5% to 60.1%, total assets increased, total liabilities did not change much, accounts receivable did not change much, and inventory grew a lot, but all within a reasonable range; there was no interest-bearing debt.

The net operating cash flow is much higher than the net investment amount, and the shareholders' surplus ratio is high.

Currently, the price-earnings ratio is 19.6. It is still within a reasonable range, and no adjustments will be made for the time being.