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Ulta Beauty vs Zalando: Which Stock Looks Stronger in 2026?

Ulta Beauty holds the cleaner structural position, with the lead spread across profitability and valuation. Zalando SE does not offset that deficit through any equally strong structural edge elsewhere. Both sides have seen trend damage — neither carries a clear market edge right now. With both trends damaged, the structural comparison carries most of the weight here.

The comparison is based on similar long-term financial trajectories, not sector labels. Peer scores are normalised within each company's primary universe (ULTA: Russell 1000, ZAL.DE: HDAX).

Updated 2026-05-17

The lead is spread across profitability and valuation, rather than sitting in one isolated gap. The overall score gap is 21 points in favour of Ulta Beauty, Inc..

Trajectory Similarity
0.77
Similar
Peer-set rank: #42
within Ulta Beauty, Inc.'s functional peer set

These two companies are linked by measured long-term financial trajectory similarity within the selected peer universe.

A solid similarity means the pair shares a clearly comparable long-term financial profile, even if individual dimensions still differ.

Most of the shared profile comes through margin consistency and investment intensity.

Similarity drivers
margin consistencyinvestment intensity
How to read the score
0.85–1.00 · Very similar0.70–0.84 · Similar0.55–0.69 · Moderately similarbelow 0.55 · Loose match
Peer-Relative Score
ULTA
Ulta Beauty, Inc.
63
Peer-Score
Signal qualitylow
Peer basis: Russell 1000
vs
ZAL.DE
Zalando SE
42
Peer-Score
Signal qualitylow
Peer basis: HDAX

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

Score differences across key dimensions.

Dimension spread: ULTA vs ZAL.DE Profitability 61 25 Stability 41 27 Valuation 81 55 Growth 60 63 ULTA ZAL.DE
Gap Ranking
#1 Profitability +36
#2 Valuation +26
#3 Stability +14
#4 Growth +3
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for ULTA and ZAL.DE Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer ULTAZAL.DE Relative valuation Structural strength

Ulta Beauty, Inc. looks stronger both structurally and on relative valuation.

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Entry today — historical context

Where ULTA and ZAL.DE each sit in their own 5-year price and valuation history.

BASED ON 5-YEAR HISTORY ULTA Elevated · above norm 0th 50th 100th 72 pct gap ZAL.DE Lower · below norm 0th 50th 100th 75th 3rd
Today ZAL.DE sits in the lower portion of its own 5-year history (3rd percentile), while ULTA sits higher in its own history (75th). Within each stock's own 5-year context, ZAL.DE is at a historically more favourable entry position than ULTA. This reflects entry timing, not which company is structurally stronger — peer-relative analysis is a separate question addressed above.

Describes historical entry positioning only. Descriptive — not investment advice.

Relative Position vs Comparable Companies
Profitability
On profitability, Ulta Beauty, Inc. is positioned higher in the group, while Zalando SE is closer to the middle.
Valuation
Both profiles are strong on valuation, but Ulta Beauty, Inc. leads clearly.
Profitability — Dominant Gap
ULTA
61
ZAL.DE
25
Gap+36in favour of ULTA

The profitability lead is mainly driven by a 14.9-point operating margin advantage.

What else supports the lead

Absolute pricing gives the lead a second hard layer of support, with a trailing P/E that is 4.3 turns lower.

What this means for the comparison

The lead is built on both profitability and valuation, making it broader than a single-dimension result.

Explore full peer positioning in AssetNext

Break down the ULTA vs ZAL.DE comparison across all dimensions with the full interactive tool.

Explore full breakdown →
Similar profitability-and-valuation comparisons

Explore how ULTA and ZAL.DE each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.