WallStSmart

Bath & Body Works Inc. (BBWI)vsUlta Beauty Inc (ULTA)

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Smart Verdict

WallStSmart Research — data-driven comparison

Ulta Beauty Inc generates 75% more annual revenue ($12.71B vs $7.25B). BBWI leads profitability with a 10.0% profit margin vs 9.4%. BBWI appears more attractively valued with a PEG of 0.75. ULTA earns a higher WallStSmart Score of 63/100 (C+).

BBWI

Buy

59

out of 100

Grade: C

Growth: 4.7Profit: 6.0Value: 8.0Quality: 6.0
Piotroski: 3/9Altman Z: 1.90

ULTA

Buy

63

out of 100

Grade: C+

Growth: 6.7Profit: 8.0Value: 4.7Quality: 6.0
Piotroski: 3/9Altman Z: 3.41
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

BBWIUndervalued (+12.0%)

Margin of Safety

+12.0%

Fair Value

$25.46

Current Price

$17.43

$8.03 discount

UndervaluedFair: $25.46Overvalued
ULTASignificantly Overvalued (-23.0%)

Margin of Safety

-23.0%

Fair Value

$555.27

Current Price

$467.07

$88.20 premium

UndervaluedFair: $555.27Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BBWI4 strengths · Avg: 9.5/10
P/E RatioValuation
5.5x10/10

Attractively priced relative to earnings

EPS GrowthGrowth
83.7%10/10

Earnings expanding 83.7% YoY

Debt/EquityHealth
-4.1610/10

Conservative balance sheet, low leverage

PEG RatioValuation
0.758/10

Growing faster than its price suggests

ULTA3 strengths · Avg: 9.3/10
Return on EquityProfitability
46.1%10/10

Every $100 of equity generates 46 in profit

Altman Z-ScoreHealth
3.4110/10

Safe zone — low bankruptcy risk

P/E RatioValuation
17.5x8/10

Attractively priced relative to earnings

Areas to Watch

BBWI4 concerns · Avg: 3.0/10
Altman Z-ScoreHealth
1.904/10

Grey zone — moderate risk

Return on EquityProfitability
0.0%3/10

ROE of 0.0% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Revenue GrowthGrowth
-3.2%2/10

Revenue declined 3.2%

ULTA2 concerns · Avg: 3.5/10
PEG RatioValuation
1.624/10

Expensive relative to growth rate

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Comparative Analysis Report

WallStSmart Research

Bull Case : BBWI

The strongest argument for BBWI centers on P/E Ratio, EPS Growth, Debt/Equity. PEG of 0.75 suggests the stock is reasonably priced for its growth.

Bull Case : ULTA

The strongest argument for ULTA centers on Return on Equity, Altman Z-Score, P/E Ratio. Revenue growth of 11.1% demonstrates continued momentum.

Bear Case : BBWI

The primary concerns for BBWI are Altman Z-Score, Return on Equity, Piotroski F-Score.

Bear Case : ULTA

The primary concerns for ULTA are PEG Ratio, Piotroski F-Score.

Key Dynamics to Monitor

BBWI carries more volatility with a beta of 1.39 — expect wider price swings.

ULTA is growing revenue faster at 11.1% — sustainability is the question.

ULTA generates stronger free cash flow (204M), providing more financial flexibility.

Monitor SPECIALTY RETAIL industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ULTA scores higher overall (63/100 vs 59/100) and 11.1% revenue growth. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Bath & Body Works Inc.

CONSUMER CYCLICAL · SPECIALTY RETAIL · USA

Bath & Body Works Inc. (BBWI) is a leading specialty retailer that offers a broad range of premium personal care and home fragrance products, capitalizing on a strong omnichannel strategy that integrates an expansive network of physical stores with a thriving online platform. The company continuously innovates and adapts its marketing approaches to stay ahead of shifting consumer preferences in the competitive beauty and personal care market. As a subsidiary of L Brands, Inc., Bath & Body Works fosters operational synergies while actively pursuing sustainability initiatives and community engagement, positioning itself for long-term growth and a robust industry presence. With a loyal customer base and a commitment to excellence, BBWI is well-equipped to navigate the evolving retail landscape.

Ulta Beauty Inc

CONSUMER CYCLICAL · SPECIALTY RETAIL · USA

Ulta Beauty, Inc., formerly known as Ulta Salon, Cosmetics & Fragrance Inc., is an American chain of beauty stores headquartered in Bolingbrook, Illinois. Ulta Beauty carries cosmetics and skincare brands, men's and women's fragrances, nail products, bath and body products, beauty tools and haircare products.

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