Ulta Beauty releases Q3 2025 earnings after market close today. Analysts expect $4.60 EPS (down ~11% YoY) and $2.70B revenue (up ~6% YoY), reflecting margin pressure from 15% SG&A expense growth in Q2 despite solid comparable sales growth of 6.7%.[1][2] The stock closed December 3 at $544.52, up 27.7% YTD, but valuation analysis suggests 51.7% overvaluation at current levels near $548.[3] Key catalysts include the Space NK acquisition, luxury brand expansion, and an invite-only digital marketplace, though investors will scrutinize whether operational discipline can offset cost pressures.[1][2]