CVNA vs. ULTA: Carvana vs. Ulta Beauty Stock Comparison

November 11, 2026

How do Carvana (CVNA) and Ulta Beauty (ULTA) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Carvana (CVNA) and Ulta Beauty (ULTA) both belong to the Specialty Retail industry, though CVNA is classified under Automotive Retail while ULTA falls under Other Specialty Retail.

Company profile comparison for Carvana (CVNA) and Ulta Beauty (ULTA)
Profile Item	CVNA	ULTA
Name	Carvana Co. Class A Common Stock	Ulta Beauty, Inc.
Country/Region	United States	United States
GICS Sector	Consumer Discretionary	Consumer Discretionary
GICS Industry Group	Consumer Discretionary Distribution & Retail	Consumer Discretionary Distribution & Retail
GICS Industry	Specialty Retail	Specialty Retail
GICS Sub-Industry	Automotive Retail	Other Specialty Retail
Market Capitalization	109.76 billion USD	27.57 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	April 28, 2017	October 25, 2007
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CVNA

ULTA

GSPC

Carvana (CVNA) vs. Ulta Beauty (ULTA), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Carvana (CVNA) and Ulta Beauty (ULTA). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for Carvana (CVNA) and Ulta Beauty (ULTA). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Carvana (CVNA) and Ulta Beauty (ULTA)
Metric	CVNA	ULTA
Total Return (1Y)	23.56%	29.08%
Total Return (3Y, Annualized)	131.08%	19.79%
Total Return (5Y, Annualized)	4.89%	11.09%

Risk Profile

Drawdown History

CVNA

ULTA

GSPC

Carvana (CVNA) vs. Ulta Beauty (ULTA), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for Carvana (CVNA) and Ulta Beauty (ULTA). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Carvana (CVNA) carries a highly aggressive beta of 3.60, indicating much higher sensitivity to broad-market moves, whereas Ulta Beauty (ULTA) is closer to market-like at 0.82 — a noticeable difference in market-sensitivity profile.

Risk profile metrics for Carvana (CVNA) and Ulta Beauty (ULTA)
Metric	CVNA	ULTA
Volatility (1Y, Annualized)	61.26%	36.05%
Beta (5Y)	3.60	0.82
Max Drawdown (5Y)	-98.76%	-44.56%
Avg. Volume (3M)	8.89M	548.94K

Risk-Adjusted Performance

Risk-Return Positioning

CVNA and ULTA are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Carvana (CVNA) and Ulta Beauty (ULTA)
Metric	CVNA	ULTA
Sharpe Ratio (1Y)	0.31	0.69
Sortino Ratio (1Y)	0.46	1.01

Profitability

ROE (TTM)

Both Carvana (CVNA) at 54.67% and Ulta Beauty (ULTA) at 46.12% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

CVNA

Consumer Discretionary Distribution & Retail industry group

54.67%

Max: 62.17%
CVNA: 54.67%
Q3: 29.44%
Median: 15.69%
Q1: 6.73%
Min: -12.16%

ULTA

Consumer Discretionary Distribution & Retail industry group

46.12%

Max: 62.17%
ULTA: 46.12%
Q3: 29.44%
Median: 15.69%
Q1: 6.73%
Min: -12.16%

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their ROE against the Consumer Discretionary Distribution & Retail industry group benchmark.

Net Margin (TTM)

Ulta Beauty (ULTA) at 9.34% retains a top-quartile share of revenue as profit, ahead of Carvana (CVNA) at 6.22%, which keeps about the industry-typical share.

CVNA

Consumer Discretionary Distribution & Retail industry group

6.22%

Max: 16.94%
Q3: 8.69%
CVNA: 6.22%
Median: 3.55%
Q1: 1.14%
Min: -9.41%

ULTA

Consumer Discretionary Distribution & Retail industry group

9.34%

Max: 16.94%
ULTA: 9.34%
Q3: 8.69%
Median: 3.55%
Q1: 1.14%
Min: -9.41%

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their net margin against the Consumer Discretionary Distribution & Retail industry group benchmark.

Operating Margin (TTM)

Ulta Beauty (ULTA) at 12.51% operates in the top operating margin quartile, ahead of Carvana (CVNA) at 8.91%, which runs around its industry’s norm.

CVNA

Consumer Discretionary Distribution & Retail industry group

8.91%

Max: 21.45%
Q3: 10.89%
CVNA: 8.91%
Median: 5.57%
Q1: 2.28%
Min: -7.12%

ULTA

Consumer Discretionary Distribution & Retail industry group

12.51%

Max: 21.45%
ULTA: 12.51%
Q3: 10.89%
Median: 5.57%
Q1: 2.28%
Min: -7.12%

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their operating margin against the Consumer Discretionary Distribution & Retail industry group benchmark.

Profitability Metrics

Profitability metrics for Carvana (CVNA) and Ulta Beauty (ULTA)
Metric	CVNA	ULTA
ROE (TTM)	54.67%	46.12%
ROA (TTM)	11.98%	14.84%
Net Margin (TTM)	6.22%	9.34%
Operating Margin (TTM)	8.91%	12.51%
Gross Margin (TTM)	19.04%	43.10%

Growth

Revenue Growth

Carvana (CVNA) at 48.63% clears its industry range for revenue growth, far stronger top-line momentum than Ulta Beauty (ULTA) at 9.71%, which is closer to a typical peer reading.

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their Revenue Growth across different time periods.

EPS Growth

Carvana (CVNA) at 431.45% clears its industry range for EPS growth, a much stronger earnings trajectory than Ulta Beauty (ULTA) at 1.18%, which is closer to a typical peer reading.

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Carvana (CVNA) and Ulta Beauty (ULTA)
Metric	CVNA	ULTA
Revenue Growth (YoY)	48.63%	9.71%
Revenue Growth (3Y CAGR)	14.31%	6.68%
EPS Growth (YoY)	431.45%	1.18%
EPS Growth (3Y CAGR)	--	2.21%

Financial Strength

Current Ratio (MRQ)

Ulta Beauty (ULTA) at 1.35 keeps current ratio within its industry’s typical mid-range, while Carvana (CVNA) at 4.05 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

CVNA

Consumer Discretionary Distribution & Retail industry group

4.05

CVNA: 4.05
Max: 2.62
Q3: 1.75
Median: 1.35
Q1: 1.00
Min: 0.48

ULTA

Consumer Discretionary Distribution & Retail industry group

1.35

Max: 2.62
Q3: 1.75
Median: 1.35
ULTA: 1.35
Q1: 1.00
Min: 0.48

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their current ratio against the Consumer Discretionary Distribution & Retail industry group benchmark.

Debt / Equity (MRQ)

Both Carvana (CVNA) at 1.01 and Ulta Beauty (ULTA) at 0.95 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

CVNA

Consumer Discretionary Distribution & Retail industry group

1.01

Max: 3.93
Q3: 2.14
Median: 1.25
CVNA: 1.01
Q1: 0.73
Min: 0.01

ULTA

Consumer Discretionary Distribution & Retail industry group

0.95

Max: 3.93
Q3: 2.14
Median: 1.25
ULTA: 0.95
Q1: 0.73
Min: 0.01

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their debt-to-equity ratio against the Consumer Discretionary Distribution & Retail industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Carvana (CVNA) and Ulta Beauty (ULTA)
Metric	CVNA	ULTA
Current Ratio (MRQ)	4.05	1.35
Debt / Equity (MRQ)	1.01	0.95
Net Debt / EBITDA	0.78	1.19

Dividends

Dividend Yield (TTM)

Neither Carvana (CVNA) nor Ulta Beauty (ULTA) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

CVNA

Consumer Discretionary Distribution & Retail industry group

0.00%

Max: 5.84%
Q3: 2.50%
CVNA: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ULTA

Consumer Discretionary Distribution & Retail industry group

0.00%

Max: 5.84%
Q3: 2.50%
ULTA: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their dividend yield against the Consumer Discretionary Distribution & Retail industry group benchmark.

Dividend Payout Ratio (TTM)

Neither Carvana (CVNA) nor Ulta Beauty (ULTA) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

CVNA

Consumer Discretionary Distribution & Retail industry group

0.00%

Max: 72.73%
Q3: 32.44%
CVNA: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ULTA

Consumer Discretionary Distribution & Retail industry group

0.00%

Max: 72.73%
Q3: 32.44%
ULTA: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their payout ratio against the Consumer Discretionary Distribution & Retail industry group benchmark.

Dividend Metrics

Dividend metrics for Carvana (CVNA) and Ulta Beauty (ULTA)
Metric	CVNA	ULTA
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

Ulta Beauty (ULTA) at 23.50 is near its industry’s usual P/E ratio, while Carvana (CVNA) at 35.37 sits in the richer quartile — CVNA needs stronger growth or earnings quality to justify the premium.

CVNA

Consumer Discretionary Distribution & Retail industry group

35.37

Max: 40.50
CVNA: 35.37
Q3: 24.26
Median: 19.23
Q1: 12.64
Min: 4.67

ULTA

Consumer Discretionary Distribution & Retail industry group

23.50

Max: 40.50
Q3: 24.26
ULTA: 23.50
Median: 19.23
Q1: 12.64
Min: 4.67

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their P/E ratio against the Consumer Discretionary Distribution & Retail industry group benchmark.

P/S Ratio (TTM)

Both Carvana (CVNA) at 4.00 and Ulta Beauty (ULTA) at 2.13 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.

CVNA

Consumer Discretionary Distribution & Retail industry group

4.00

Max: 4.32
CVNA: 4.00
Q3: 1.99
Median: 0.70
Q1: 0.26
Min: 0.03

ULTA

Consumer Discretionary Distribution & Retail industry group

2.13

Max: 4.32
ULTA: 2.13
Q3: 1.99
Median: 0.70
Q1: 0.26
Min: 0.03

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their P/S ratio against the Consumer Discretionary Distribution & Retail industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Ulta Beauty (ULTA) at 10.44 sits in the upper P/B ratio quartile, and Carvana (CVNA) at 12.20 prices even higher, above its industry range.

CVNA

Consumer Discretionary Distribution & Retail industry group

12.20

CVNA: 12.20
Max: 10.96
Q3: 5.26
Median: 2.16
Q1: 1.08
Min: -4.45

ULTA

Consumer Discretionary Distribution & Retail industry group

10.44

Max: 10.96
ULTA: 10.44
Q3: 5.26
Median: 2.16
Q1: 1.08
Min: -4.45

Carvana (CVNA) vs. Ulta Beauty (ULTA): A comparison of their P/B ratio against the Consumer Discretionary Distribution & Retail industry group benchmark.

Valuation Metrics

Valuation metrics for Carvana (CVNA) and Ulta Beauty (ULTA)
Metric	CVNA	ULTA
P/E Ratio (TTM)	35.37	23.50
P/S Ratio (TTM)	4.00	2.13
P/B Ratio (MRQ)	12.20	10.44
Free Cash Flow Yield (TTM)	0.59%	3.32%