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Newegg Commerce vs Ulta Beauty: revenue, profit, margins and growth compared

Newegg Commerce brought in $1.4B of revenue in fiscal 2025, Ulta Beauty $12.4B in fiscal 2025. Revenue changed by +16.9% at Newegg Commerce and +9.7% at Ulta Beauty on the year before, so Newegg Commerce grew faster. Newegg Commerce kept -0.3% of its revenue as net profit, Ulta Beauty 9.3%. Free cash flow was -$29.7M at Newegg Commerce and $1.1B at Ulta Beauty.

Side by side, latest fiscal year

NEGGULTA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (January 31, 2026)
Revenue$1.4B$12.4B
Revenue growth+16.9%+9.7%
Net income-$4.9M$1.2B
Net margin-0.3%9.3%
Free cash flow-$29.7M$1.1B
Free cash flow margin-2.1%8.6%
Earnings per share (diluted)-$0.24$25.64
Cash$107.8M$424.2M
Debtn/an/a
Price to earningsn/a21.3
Market value$283.6M$23.4B
Dividend yieldn/an/a
Rank by revenue in sector#405 of 778 · Consumer discretionary#104 of 778 · Consumer discretionary

Over the years

Revenue
NEGG FY2018: $559.4KNEGG FY2019: $1.5BNEGG FY2020: $2.1BNEGG FY2021: $2.4BNEGG FY2022: $1.7BNEGG FY2023: $1.5BNEGG FY2024: $1.2BNEGG FY2025: $1.4BULTA FY2018: $6.7BULTA FY2019: $7.4BULTA FY2020: $6.2BULTA FY2021: $8.6BULTA FY2022: $10.2BULTA FY2023: $11.2BULTA FY2024: $11.3BULTA FY2025: $12.4BFY18FY19FY20FY21FY22FY23FY24FY25
NEGG $1.4BULTA $12.4B
Net income
NEGG FY2018: -$8.9MNEGG FY2019: $17MNEGG FY2020: -$30.4MNEGG FY2021: $36.3MNEGG FY2022: -$57.4MNEGG FY2023: -$59MNEGG FY2024: -$43.3MNEGG FY2025: -$4.9MULTA FY2018: $658.6MULTA FY2019: $705.9MULTA FY2020: $175.8MULTA FY2021: $985.8MULTA FY2022: $1.2BULTA FY2023: $1.3BULTA FY2024: $1.2BULTA FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
NEGG -$4.9MULTA $1.2B
Net margin
NEGG FY2018: -1,592.8%NEGG FY2019: 1.1%NEGG FY2020: -1.4%NEGG FY2021: 1.5%NEGG FY2022: -3.3%NEGG FY2023: -3.9%NEGG FY2024: -3.5%NEGG FY2025: -0.3%ULTA FY2018: 9.8%ULTA FY2019: 9.5%ULTA FY2020: 2.9%ULTA FY2021: 11.4%ULTA FY2022: 12.2%ULTA FY2023: 11.5%ULTA FY2024: 10.6%ULTA FY2025: 9.3%FY18FY19FY20FY21FY22FY23FY24FY25
NEGG -0.3%ULTA 9.3%
Revenue growth
NEGG FY2019: +274,116.4%NEGG FY2020: +37.9%NEGG FY2021: +12.4%NEGG FY2022: -27.6%NEGG FY2023: -13.0%NEGG FY2024: -17.5%NEGG FY2025: +16.9%ULTA FY2019: +10.1%ULTA FY2020: -16.8%ULTA FY2021: +40.3%ULTA FY2022: +18.3%ULTA FY2023: +9.8%ULTA FY2024: +0.8%ULTA FY2025: +9.7%FY19FY20FY21FY22FY23FY24FY25
NEGG +16.9%ULTA +9.7%
Free cash flow
NEGG FY2019: -$20.4MNEGG FY2020: $78.4MNEGG FY2021: -$67.1MNEGG FY2022: $11.3MNEGG FY2023: -$34.1MNEGG FY2024: -$4.4MNEGG FY2025: -$29.7MULTA FY2018: $636.7MULTA FY2019: $802.8MULTA FY2020: $658.5MULTA FY2021: $887.1MULTA FY2022: $1.2BULTA FY2023: $1BULTA FY2024: $964.1MULTA FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
NEGG -$29.7MULTA $1.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Newegg Commerce and Ulta Beauty

Which is bigger by revenue, Newegg Commerce or Ulta Beauty?

Ulta Beauty is bigger by revenue: $12.4B in fiscal 2025, against $1.4B for Newegg Commerce in fiscal 2025.

Which keeps more of its revenue as profit, Newegg Commerce or Ulta Beauty?

Newegg Commerce had a net margin of -0.3% in fiscal 2025; Ulta Beauty had 9.3% in fiscal 2025.

Which grew revenue faster, Newegg Commerce or Ulta Beauty?

In their latest fiscal years revenue changed by +16.9% at Newegg Commerce and +9.7% at Ulta Beauty.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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