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Side-by-side financial comparison of TopBuild Corp (BLD) 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 $1.5B, roughly 1.9× TopBuild Corp). Ulta Beauty runs the higher net margin — 8.1% vs 7.0%, a 1.0% gap on every dollar of revenue. On growth, TopBuild Corp posted the faster year-over-year revenue change (13.2% vs 12.9%). TopBuild Corp produced more free cash flow last quarter ($159.4M vs $-81.6M). Over the past eight quarters, TopBuild Corp's revenue compounded faster (7.8% CAGR vs 7.2%).
HashiCorp, Inc. is an American software company with a freemium business model based in San Francisco, California. HashiCorp provides tools and products that enable developers, operators and security professionals to provision, secure, run and connect cloud-computing infrastructure. It was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company name HashiCorp is a portmanteau of co-founder last name Hashimoto and Corporation.
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.
BLD vs ULTA — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $2.9B |
| Net Profit | $104.5M | $230.9M |
| Gross Margin | 27.2% | 40.4% |
| Operating Margin | 12.1% | 10.8% |
| Net Margin | 7.0% | 8.1% |
| Revenue YoY | 13.2% | 12.9% |
| Net Profit YoY | -30.6% | -4.7% |
| EPS (diluted) | $3.69 | $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 | $1.5B | $2.9B | ||
| Q3 25 | $1.4B | $2.8B | ||
| Q2 25 | $1.3B | $2.8B | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | $2.5B | ||
| Q3 24 | $1.4B | $2.6B | ||
| Q2 24 | $1.4B | $2.7B | ||
| Q1 24 | $1.3B | $3.6B |
| Q4 25 | $104.5M | $230.9M | ||
| Q3 25 | $142.2M | $260.9M | ||
| Q2 25 | $151.6M | $305.1M | ||
| Q1 25 | $123.4M | — | ||
| Q4 24 | $150.5M | $242.2M | ||
| Q3 24 | $169.0M | $252.6M | ||
| Q2 24 | $150.7M | $313.1M | ||
| Q1 24 | $152.4M | $394.4M |
| Q4 25 | 27.2% | 40.4% | ||
| Q3 25 | 30.1% | 39.2% | ||
| Q2 25 | 30.4% | 39.1% | ||
| Q1 25 | 28.5% | — | ||
| Q4 24 | 29.9% | 39.7% | ||
| Q3 24 | 30.7% | 38.3% | ||
| Q2 24 | 31.0% | 39.2% | ||
| Q1 24 | 30.3% | 37.7% |
| Q4 25 | 12.1% | 10.8% | ||
| Q3 25 | 15.4% | 12.4% | ||
| Q2 25 | 16.9% | 14.1% | ||
| Q1 25 | 14.4% | — | ||
| Q4 24 | 16.6% | 12.6% | ||
| Q3 24 | 17.8% | 12.9% | ||
| Q2 24 | 15.4% | 14.7% | ||
| Q1 24 | 16.8% | 14.5% |
| Q4 25 | 7.0% | 8.1% | ||
| Q3 25 | 10.2% | 9.4% | ||
| Q2 25 | 11.7% | 10.7% | ||
| Q1 25 | 10.0% | — | ||
| Q4 24 | 11.5% | 9.6% | ||
| Q3 24 | 12.3% | 9.9% | ||
| Q2 24 | 11.0% | 11.5% | ||
| Q1 24 | 11.9% | 11.1% |
| Q4 25 | $3.69 | $5.14 | ||
| Q3 25 | $5.04 | $5.78 | ||
| Q2 25 | $5.32 | $6.70 | ||
| Q1 25 | $4.23 | — | ||
| Q4 24 | $5.07 | $5.14 | ||
| Q3 24 | $5.65 | $5.30 | ||
| Q2 24 | $4.78 | $6.47 | ||
| Q1 24 | $4.79 | $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 | $184.7M | $204.9M |
| Total DebtLower is stronger | $2.8B | — |
| Stockholders' EquityBook value | $2.3B | $2.6B |
| Total Assets | $6.6B | $7.0B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.7M | $204.9M | ||
| Q3 25 | $1.1B | $242.7M | ||
| Q2 25 | $842.5M | $454.6M | ||
| Q1 25 | $308.8M | — | ||
| Q4 24 | $400.3M | $177.8M | ||
| Q3 24 | $257.3M | $414.0M | ||
| Q2 24 | $463.2M | $524.6M | ||
| Q1 24 | $968.8M | $766.6M |
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $2.3B | $2.6B | ||
| Q3 25 | $2.2B | $2.6B | ||
| Q2 25 | $2.1B | $2.4B | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.2B | $2.3B | ||
| Q3 24 | $2.1B | $2.3B | ||
| Q2 24 | $2.4B | $2.3B | ||
| Q1 24 | $2.7B | $2.3B |
| Q4 25 | $6.6B | $7.0B | ||
| Q3 25 | $6.4B | $6.6B | ||
| Q2 25 | $5.1B | $6.0B | ||
| Q1 25 | $4.6B | — | ||
| Q4 24 | $4.7B | $6.0B | ||
| Q3 24 | $4.7B | $5.7B | ||
| Q2 24 | $4.9B | $5.6B | ||
| Q1 24 | $5.3B | $5.7B |
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.62× | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.52× | — |
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 | $176.7M | $5.6M |
| Free Cash FlowOCF − Capex | $159.4M | $-81.6M |
| FCF MarginFCF / Revenue | 10.7% | -2.9% |
| Capex IntensityCapex / Revenue | 1.2% | 3.1% |
| Cash ConversionOCF / Net Profit | 1.69× | 0.02× |
| TTM Free Cash FlowTrailing 4 quarters | $696.9M | $-92.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $176.7M | $5.6M | ||
| Q3 25 | $233.3M | $96.5M | ||
| Q2 25 | $193.7M | $220.0M | ||
| Q1 25 | $152.6M | — | ||
| Q4 24 | $266.2M | $-56.8M | ||
| Q3 24 | $240.7M | $199.5M | ||
| Q2 24 | $90.4M | $159.3M | ||
| Q1 24 | $178.8M | $1.1B |
| Q4 25 | $159.4M | $-81.6M | ||
| Q3 25 | $216.2M | $19.6M | ||
| Q2 25 | $182.2M | $141.0M | ||
| Q1 25 | $139.2M | — | ||
| Q4 24 | $253.7M | $-171.1M | ||
| Q3 24 | $219.8M | $104.3M | ||
| Q2 24 | $74.3M | $68.3M | ||
| Q1 24 | $158.9M | $994.0M |
| Q4 25 | 10.7% | -2.9% | ||
| Q3 25 | 15.5% | 0.7% | ||
| Q2 25 | 14.0% | 4.9% | ||
| Q1 25 | 11.3% | — | ||
| Q4 24 | 19.3% | -6.8% | ||
| Q3 24 | 16.0% | 4.1% | ||
| Q2 24 | 5.4% | 2.5% | ||
| Q1 24 | 12.4% | 28.0% |
| Q4 25 | 1.2% | 3.1% | ||
| Q3 25 | 1.2% | 2.8% | ||
| Q2 25 | 0.9% | 2.8% | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 1.0% | 4.5% | ||
| Q3 24 | 1.5% | 3.7% | ||
| Q2 24 | 1.2% | 3.3% | ||
| Q1 24 | 1.6% | 3.5% |
| Q4 25 | 1.69× | 0.02× | ||
| Q3 25 | 1.64× | 0.37× | ||
| Q2 25 | 1.28× | 0.72× | ||
| Q1 25 | 1.24× | — | ||
| Q4 24 | 1.77× | -0.23× | ||
| Q3 24 | 1.42× | 0.79× | ||
| Q2 24 | 0.60× | 0.51× | ||
| Q1 24 | 1.17× | 2.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
ULTA
Segment breakdown not available.
