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Side-by-side financial comparison of Expeditors International (EXPD) 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 $2.9B, roughly 1.0× Expeditors International). Ulta Beauty runs the higher net margin — 8.1% vs 7.0%, a 1.1% gap on every dollar of revenue. On growth, Ulta Beauty posted the faster year-over-year revenue change (12.9% vs -3.3%). Expeditors International produced more free cash flow last quarter ($270.3M vs $-81.6M). Over the past eight quarters, Expeditors International's revenue compounded faster (13.8% CAGR vs 7.2%).
Expeditors International of Washington, Inc. is an American Fortune 500 service-based logistics company with headquarters in Bellevue, Washington. Expeditors generates highly optimized and customized supply chain solutions for clients with unified technology systems integrated through a global network of over 340+ locations in 100+ countries on six continents.
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.
EXPD vs ULTA — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $2.9B |
| Net Profit | $200.7M | $230.9M |
| Gross Margin | — | 40.4% |
| Operating Margin | 8.8% | 10.8% |
| Net Margin | 7.0% | 8.1% |
| Revenue YoY | -3.3% | 12.9% |
| Net Profit YoY | -14.9% | -4.7% |
| EPS (diluted) | $1.50 | $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 | $2.9B | $2.9B | ||
| Q3 25 | $2.9B | $2.8B | ||
| Q2 25 | $2.7B | $2.8B | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $3.0B | $2.5B | ||
| Q3 24 | $3.0B | $2.6B | ||
| Q2 24 | $2.4B | $2.7B | ||
| Q1 24 | $2.2B | $3.6B |
| Q4 25 | $200.7M | $230.9M | ||
| Q3 25 | $222.3M | $260.9M | ||
| Q2 25 | $183.6M | $305.1M | ||
| Q1 25 | $203.8M | — | ||
| Q4 24 | $235.9M | $242.2M | ||
| Q3 24 | $229.6M | $252.6M | ||
| Q2 24 | $175.5M | $313.1M | ||
| Q1 24 | $169.2M | $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 | 8.8% | 10.8% | ||
| Q3 25 | 10.0% | 12.4% | ||
| Q2 25 | 9.3% | 14.1% | ||
| Q1 25 | 10.0% | — | ||
| Q4 24 | 10.2% | 12.6% | ||
| Q3 24 | 10.1% | 12.9% | ||
| Q2 24 | 9.2% | 14.7% | ||
| Q1 24 | 9.7% | 14.5% |
| Q4 25 | 7.0% | 8.1% | ||
| Q3 25 | 7.7% | 9.4% | ||
| Q2 25 | 6.9% | 10.7% | ||
| Q1 25 | 7.6% | — | ||
| Q4 24 | 8.0% | 9.6% | ||
| Q3 24 | 7.7% | 9.9% | ||
| Q2 24 | 7.2% | 11.5% | ||
| Q1 24 | 7.7% | 11.1% |
| Q4 25 | $1.50 | $5.14 | ||
| Q3 25 | $1.64 | $5.78 | ||
| Q2 25 | $1.34 | $6.70 | ||
| Q1 25 | $1.47 | — | ||
| Q4 24 | $1.68 | $5.14 | ||
| Q3 24 | $1.63 | $5.30 | ||
| Q2 24 | $1.24 | $6.47 | ||
| Q1 24 | $1.17 | $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 | $1.3B | $204.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.4B | $2.6B |
| Total Assets | $4.9B | $7.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $204.9M | ||
| Q3 25 | $1.2B | $242.7M | ||
| Q2 25 | $1.2B | $454.6M | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.1B | $177.8M | ||
| Q3 24 | $1.3B | $414.0M | ||
| Q2 24 | $1.3B | $524.6M | ||
| Q1 24 | $1.4B | $766.6M |
| Q4 25 | $2.4B | $2.6B | ||
| Q3 25 | $2.3B | $2.6B | ||
| Q2 25 | $2.2B | $2.4B | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.2B | $2.3B | ||
| Q3 24 | $2.4B | $2.3B | ||
| Q2 24 | $2.2B | $2.3B | ||
| Q1 24 | $2.2B | $2.3B |
| Q4 25 | $4.9B | $7.0B | ||
| Q3 25 | $4.8B | $6.6B | ||
| Q2 25 | $4.8B | $6.0B | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $4.8B | $6.0B | ||
| Q3 24 | $5.2B | $5.7B | ||
| Q2 24 | $4.8B | $5.6B | ||
| Q1 24 | $4.5B | $5.7B |
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 | $283.3M | $5.6M |
| Free Cash FlowOCF − Capex | $270.3M | $-81.6M |
| FCF MarginFCF / Revenue | 9.5% | -2.9% |
| Capex IntensityCapex / Revenue | 0.5% | 3.1% |
| Cash ConversionOCF / Net Profit | 1.41× | 0.02× |
| TTM Free Cash FlowTrailing 4 quarters | $953.4M | $-92.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $283.3M | $5.6M | ||
| Q3 25 | $201.4M | $96.5M | ||
| Q2 25 | $179.2M | $220.0M | ||
| Q1 25 | $342.6M | — | ||
| Q4 24 | $249.7M | $-56.8M | ||
| Q3 24 | $90.0M | $199.5M | ||
| Q2 24 | $126.8M | $159.3M | ||
| Q1 24 | $256.9M | $1.1B |
| Q4 25 | $270.3M | $-81.6M | ||
| Q3 25 | $190.3M | $19.6M | ||
| Q2 25 | $163.3M | $141.0M | ||
| Q1 25 | $329.5M | — | ||
| Q4 24 | $239.7M | $-171.1M | ||
| Q3 24 | $77.7M | $104.3M | ||
| Q2 24 | $118.8M | $68.3M | ||
| Q1 24 | $246.7M | $994.0M |
| Q4 25 | 9.5% | -2.9% | ||
| Q3 25 | 6.6% | 0.7% | ||
| Q2 25 | 6.2% | 4.9% | ||
| Q1 25 | 12.4% | — | ||
| Q4 24 | 8.1% | -6.8% | ||
| Q3 24 | 2.6% | 4.1% | ||
| Q2 24 | 4.9% | 2.5% | ||
| Q1 24 | 11.2% | 28.0% |
| Q4 25 | 0.5% | 3.1% | ||
| Q3 25 | 0.4% | 2.8% | ||
| Q2 25 | 0.6% | 2.8% | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.3% | 4.5% | ||
| Q3 24 | 0.4% | 3.7% | ||
| Q2 24 | 0.3% | 3.3% | ||
| Q1 24 | 0.5% | 3.5% |
| Q4 25 | 1.41× | 0.02× | ||
| Q3 25 | 0.91× | 0.37× | ||
| Q2 25 | 0.98× | 0.72× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.06× | -0.23× | ||
| Q3 24 | 0.39× | 0.79× | ||
| Q2 24 | 0.72× | 0.51× | ||
| Q1 24 | 1.52× | 2.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
ULTA
Segment breakdown not available.
