How much of Ulta Beauty’s revenue comes from haram?

Ulta operates as a beauty retailer in the United States, offering cosmetics, fragrance, skin care products, hair care products, and salon services.

Practical Islamic Finance concludes:

None of Ulta’s revenue comes from anything inherently haram.

Does Ulta Beauty rely on interest to operate?

Most Recent Quarter
Fiscal year
Fiscal year
Interest Expense $401 $1,663 $5,735
Total Operating Expenses $1,908,193 $7,337,418 $5,853,216
Interest Expense /
Total Operating Expenses
0.02% 0.02% 0.10%
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes:

Riba is used but not relied upon in Ulta Beauty, Inc. operations.

What is Ulta Beauty’s Environmental, Social, and Governance (ESG) impact?


According to Ulta’s 2020 ESG Report, the company has reduced its electricity usage by 5 million kWh since 2016, equivalent to avoiding 3,600 metric tons of GHG emissions.

In addition, in 2019, Ulta purchased more than 22,000 megawatt-hours of wind energy through renewable energy credits, representing 7% of the company’s total annual electricity usage.


According to Ulta’s 2020 ESG Report, the company has been partnered with the Breast Cancer Research Foundation since 2009, raising over $37 million since the start of its partnership.  

Ulta has a Glassdoor rating of 3.5 out of 5.0 from over 7,000 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.


No notable governance highlights.

Practical Islamic Finance concludes:

Ulta has a net positive ESG impact.

Comfort Rating

From Ulta’s business, financial, and ESG reviews, Practical Islamic Finance rates Ulta stock as: 

Comfortable to invest in from a halal perspective.


Ulta Beauty Reviews 

Ulta 2020 ESG Report 

Ulta Beauty 2021 10-K

Ulta Q2 2021 10-Q