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Side-by-side financial comparison of ARKO Corp. (ARKO) and Ulta Beauty (ULTA). Click either name above to swap in a different company.
Ulta Beauty is the larger business by last-quarter revenue ($2.9B vs $1.8B, roughly 1.6× ARKO Corp.). Ulta Beauty runs the higher net margin — 8.1% vs 0.1%, a 8.0% gap on every dollar of revenue. On growth, Ulta Beauty posted the faster year-over-year revenue change (12.9% vs -9.9%). ARKO Corp. produced more free cash flow last quarter ($14.9M vs $-81.6M). Over the past eight quarters, Ulta Beauty's revenue compounded faster (7.2% CAGR vs -7.0%).
ARKO Corp. is a leading U.S. operator of convenience stores and fuel retail locations, primarily serving consumers across multiple states. It offers a wide range of products including fresh food, beverages, daily essentials, and motor fuels, alongside wholesale fuel distribution services for commercial partners.
Ulta Beauty, Inc., formerly known as Ulta Salon, Cosmetics & Fragrance Inc. and before 2000 as Ulta3, is an American chain of cosmetic stores headquartered in Bolingbrook, Illinois. Ulta Beauty carries both high- and low-end cosmetics, fragrances, nail products, bath and body products, beauty tools and haircare products. Each location has a beauty salon available to the public.
ARKO vs ULTA — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.8B | $2.9B |
| Net Profit | $1.9M | $230.9M |
| Gross Margin | — | 40.4% |
| Operating Margin | 1.2% | 10.8% |
| Net Margin | 0.1% | 8.1% |
| Revenue YoY | -9.9% | 12.9% |
| Net Profit YoY | 180.9% | -4.7% |
| EPS (diluted) | $0.01 | $5.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.8B | $2.9B | ||
| Q3 25 | $2.0B | $2.8B | ||
| Q2 25 | $2.0B | $2.8B | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $2.0B | $2.5B | ||
| Q3 24 | $2.3B | $2.6B | ||
| Q2 24 | $2.4B | $2.7B | ||
| Q1 24 | $2.1B | $3.6B |
| Q4 25 | $1.9M | $230.9M | ||
| Q3 25 | $13.5M | $260.9M | ||
| Q2 25 | $20.1M | $305.1M | ||
| Q1 25 | $-12.7M | — | ||
| Q4 24 | $-2.3M | $242.2M | ||
| Q3 24 | $9.7M | $252.6M | ||
| Q2 24 | $14.1M | $313.1M | ||
| Q1 24 | $-594.0K | $394.4M |
| Q4 25 | — | 40.4% | ||
| Q3 25 | — | 39.2% | ||
| Q2 25 | — | 39.1% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 39.7% | ||
| Q3 24 | — | 38.3% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 37.7% |
| Q4 25 | 1.2% | 10.8% | ||
| Q3 25 | 1.8% | 12.4% | ||
| Q2 25 | 2.8% | 14.1% | ||
| Q1 25 | -0.6% | — | ||
| Q4 24 | 0.7% | 12.6% | ||
| Q3 24 | 1.8% | 12.9% | ||
| Q2 24 | 1.8% | 14.7% | ||
| Q1 24 | -0.2% | 14.5% |
| Q4 25 | 0.1% | 8.1% | ||
| Q3 25 | 0.7% | 9.4% | ||
| Q2 25 | 1.0% | 10.7% | ||
| Q1 25 | -0.7% | — | ||
| Q4 24 | -0.1% | 9.6% | ||
| Q3 24 | 0.4% | 9.9% | ||
| Q2 24 | 0.6% | 11.5% | ||
| Q1 24 | -0.0% | 11.1% |
| Q4 25 | $0.01 | $5.14 | ||
| Q3 25 | $0.10 | $5.78 | ||
| Q2 25 | $0.16 | $6.70 | ||
| Q1 25 | $-0.12 | — | ||
| Q4 24 | $-0.03 | $5.14 | ||
| Q3 24 | $0.07 | $5.30 | ||
| Q2 24 | $0.11 | $6.47 | ||
| Q1 24 | $-0.02 | $8.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $311.5M | $204.9M |
| Total DebtLower is stronger | $912.1M | — |
| Stockholders' EquityBook value | $267.2M | $2.6B |
| Total Assets | $3.5B | $7.0B |
| Debt / EquityLower = less leverage | 3.41× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $311.5M | $204.9M | ||
| Q3 25 | $313.2M | $242.7M | ||
| Q2 25 | $299.7M | $454.6M | ||
| Q1 25 | $271.1M | — | ||
| Q4 24 | $267.1M | $177.8M | ||
| Q3 24 | $296.8M | $414.0M | ||
| Q2 24 | $236.5M | $524.6M | ||
| Q1 24 | $189.1M | $766.6M |
| Q4 25 | $912.1M | — | ||
| Q3 25 | $911.6M | — | ||
| Q2 25 | $916.4M | — | ||
| Q1 25 | $880.1M | — | ||
| Q4 24 | $881.0M | — | ||
| Q3 24 | $884.7M | — | ||
| Q2 24 | $889.9M | — | ||
| Q1 24 | $885.0M | — |
| Q4 25 | $267.2M | $2.6B | ||
| Q3 25 | $273.1M | $2.6B | ||
| Q2 25 | $264.8M | $2.4B | ||
| Q1 25 | $255.2M | — | ||
| Q4 24 | $276.9M | $2.3B | ||
| Q3 24 | $280.0M | $2.3B | ||
| Q2 24 | $273.1M | $2.3B | ||
| Q1 24 | $261.2M | $2.3B |
| Q4 25 | $3.5B | $7.0B | ||
| Q3 25 | $3.6B | $6.6B | ||
| Q2 25 | $3.6B | $6.0B | ||
| Q1 25 | $3.6B | — | ||
| Q4 24 | $3.6B | $6.0B | ||
| Q3 24 | $3.7B | $5.7B | ||
| Q2 24 | $3.7B | $5.6B | ||
| Q1 24 | $3.6B | $5.7B |
| Q4 25 | 3.41× | — | ||
| Q3 25 | 3.34× | — | ||
| Q2 25 | 3.46× | — | ||
| Q1 25 | 3.45× | — | ||
| Q4 24 | 3.18× | — | ||
| Q3 24 | 3.16× | — | ||
| Q2 24 | 3.26× | — | ||
| Q1 24 | 3.39× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $44.6M | $5.6M |
| Free Cash FlowOCF − Capex | $14.9M | $-81.6M |
| FCF MarginFCF / Revenue | 0.8% | -2.9% |
| Capex IntensityCapex / Revenue | 1.7% | 3.1% |
| Cash ConversionOCF / Net Profit | 23.98× | 0.02× |
| TTM Free Cash FlowTrailing 4 quarters | $65.3M | $-92.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $44.6M | $5.6M | ||
| Q3 25 | $49.4M | $96.5M | ||
| Q2 25 | $55.2M | $220.0M | ||
| Q1 25 | $43.4M | — | ||
| Q4 24 | $22.7M | $-56.8M | ||
| Q3 24 | $109.2M | $199.5M | ||
| Q2 24 | $77.2M | $159.3M | ||
| Q1 24 | $12.8M | $1.1B |
| Q4 25 | $14.9M | $-81.6M | ||
| Q3 25 | $24.5M | $19.6M | ||
| Q2 25 | $9.8M | $141.0M | ||
| Q1 25 | $16.0M | — | ||
| Q4 24 | $-13.4M | $-171.1M | ||
| Q3 24 | $79.9M | $104.3M | ||
| Q2 24 | $57.9M | $68.3M | ||
| Q1 24 | $-16.5M | $994.0M |
| Q4 25 | 0.8% | -2.9% | ||
| Q3 25 | 1.2% | 0.7% | ||
| Q2 25 | 0.5% | 4.9% | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | -0.7% | -6.8% | ||
| Q3 24 | 3.5% | 4.1% | ||
| Q2 24 | 2.4% | 2.5% | ||
| Q1 24 | -0.8% | 28.0% |
| Q4 25 | 1.7% | 3.1% | ||
| Q3 25 | 1.2% | 2.8% | ||
| Q2 25 | 2.3% | 2.8% | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.8% | 4.5% | ||
| Q3 24 | 1.3% | 3.7% | ||
| Q2 24 | 0.8% | 3.3% | ||
| Q1 24 | 1.4% | 3.5% |
| Q4 25 | 23.98× | 0.02× | ||
| Q3 25 | 3.67× | 0.37× | ||
| Q2 25 | 2.75× | 0.72× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.23× | ||
| Q3 24 | 11.28× | 0.79× | ||
| Q2 24 | 5.49× | 0.51× | ||
| Q1 24 | — | 2.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARKO
| Fuel Products | $1.4B | 79% |
| Merchandise Products | $338.1M | 19% |
| Other Product | $33.6M | 2% |
ULTA
Segment breakdown not available.
