lululemon athletica inc.

LULU

Consumer CyclicalLarge CapUS Equities · NYSE / NASDAQ

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Company Profile

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails technical athletic apparel, footwear, and accessories for women and men under the lululemon brand in the United States, Canada, Mexico, China Mainland, Hong Kong, Taiwan, Macau, and internationally. It offers pants, shorts, tops, and jackets for athletic activities, such as yoga, running, training, and other activities. The company also provides fitness-inspired accessories. It sells its products through company-operated stores; seasonal stores, pop-ups, university campus retailers, and yoga and fitness studios; outlets; Like New, a re-commerce program; and its e-commerce website. The company was founded in 1998 and is based in Vancouver, Canada.

Valuation

Market Cap$14.9B

Current Price$109.22as of Jun 23, 2026

P/E Ratio9.46

P/B Ratio3.01

EV / EBITDA5.51

EV / Sales1.34

Profitability

Operating Margin19.9%

Net Profit Margin14.2%

EBITDA Margin24.4%

Returns

ROE31.8%

ROCE33.7%

ROIC %-

ROA18.7%

Solvency

Current Ratio2.26

Debt / Equity0.36

Debt / Assets0.21

CFO / Net Profit1.01

Price History▼ 51.58% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2026

Revenue$11.1B▲ 4.9%

EBITDA$2.7B▼ 8.3%

Net Profit$1.6B▼ 13.0%

Cash from Ops (CFO)$1.6B▼ 29.5%

Free Cash Flow (FCF)$922M▼ 41.8%

Revenue CAGR 3Y11.0%

Revenue CAGR 5Y-

Net Profit CAGR 3Y22.7%

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2026	$11.1B	$2.7B	$1.6B	$922M	31.8%	4.9%	-13.0%
2025	$10.6B	$3.0B	$1.8B	$1.6B	42.0%	10.1%	17.1%
2024	$9.6B	$2.6B	$1.6B	$1.6B	36.6%	18.6%	81.4%
2023	$8.1B	$2.0B	$855M	$328M	27.1%	-	-
2022	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2022	2023	2024	2025	2026
Total Revenue	-	8,110.52	9,619.28	10,588.13	11,102.60
Operating Revenue	-	8,110.52	9,619.28	10,588.13	11,102.60
Cost Of Revenue	-	3,618.18	4,009.87	4,317.31	4,818.47
Gross Profit	-	4,492.34	5,609.40	6,270.81	6,284.13
Operating Expense	-	2,766.20	3,402.23	3,765.11	4,073.52
Selling General And Administration	-	2,757.45	3,397.22	3,762.38	4,066.56
Total Expenses	-	6,384.38	7,412.10	8,082.43	8,891.98
Operating Income	-	1,726.14	2,207.18	2,505.70	2,210.61
Total Operating Income As Reported	-	1,328.41	2,132.68	2,505.70	2,210.61
EBITDA	-	2,017.93	2,586.56	2,952.22	2,706.84
Normalized EBITDA	-	2,415.66	2,661.06	2,952.22	2,706.84
EBIT	-	1,726.14	2,207.18	2,505.70	2,210.61
Other Non Operating Income Expenses	-	4.16	43.06	70.38	28.35
Other Income Expense	-	-393.57	-31.44	70.38	28.35
Pretax Income	-	1,332.57	2,175.74	2,576.08	2,238.97
Tax Provision	-	477.77	625.54	761.46	659.78
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	-142.79	-21.46	0	0
Net Income Continuous Operations	-	854.80	1,550.19	1,814.62	1,579.18
Net Income From Continuing And Discontinued Operation	-	854.80	1,550.19	1,814.62	1,579.18
Net Income From Continuing Operation Net Minority Interest	-	854.80	1,550.19	1,814.62	1,579.18
Net Income	-	854.80	1,550.19	1,814.62	1,579.18
Net Income Common Stockholders	-	854.80	1,550.19	1,814.62	1,579.18
Net Income Including Noncontrolling Interests	-	854.80	1,550.19	1,814.62	1,579.18
Normalized Income	-	1,109.75	1,603.23	1,814.62	1,579.18
Diluted NI Availto Com Stockholders	-	854.80	1,550.19	1,814.62	1,579.18
Basic Average Shares	-	127.67	126.73	123.74	118.98
Diluted Average Shares	-	128.02	127.06	123.94	119.07
Reconciled Depreciation	-	291.79	379.38	446.52	496.23
Reconciled Cost Of Revenue	-	3,335.14	3,635.50	3,873.53	4,329.20
Total Unusual Items	-	-397.73	-74.50	0	0
Total Unusual Items Excluding Goodwill	-	-397.73	-74.50	0	0
Special Income Charges	-	-397.73	-74.50	0	0
Impairment Of Capital Assets	-	407.91	44.19	0	0
Restructuring And Mergern Acquisition	41.39	0	30.32	0	-
Depreciation Amortization Depletion Income Statement	-	8.75	5.01	2.74	6.96
Depreciation And Amortization In Income Statement	-	8.75	5.01	2.74	6.96
Gain On Sale Of Ppe	0	10.18	0	0	-
Amortization	-	8.75	5.01	2.74	6.96
Amortization Of Intangibles Income Statement	-	8.75	5.01	2.74	6.96

Peer Comparison

Consumer Cyclical sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
lululemon athletica inc.this co.	LULU	$14.9B	9.46↓ discount	3.01	31.8%	5.51
Amcor plc	AMCR	$17.4B	34.06	1.48	4.4%	17.86
NVR, Inc.	NVR	$16.7B	12.45	4.31	34.7%	8.71
Aptiv PLC	APTV	$15.4B	93.52	1.68	1.8%	9.54
Tractor Supply Company	TSCO	$15.4B	14.05

Learn while you research

Hand-picked academy chapters to deepen your understanding of lululemon athletica inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Value Investing

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2026

$11.1B

$2.7B

$1.6B

$922M

31.8%

4.9%

-13.0%

2025

$10.6B

$3.0B

$1.8B

$1.6B

42.0%

10.1%

17.1%

2024

$9.6B

$2.6B

$1.6B

36.6%

18.6%

81.4%

2023

$8.1B

$2.0B

$855M

$328M

27.1%

2022

Metric

2022

2023

2024

2025

2026

Total Revenue

8,110.52

9,619.28

10,588.13

11,102.60

Operating Revenue

8,110.52

9,619.28

10,588.13

11,102.60

Cost Of Revenue

3,618.18

4,009.87

4,317.31

4,818.47

Gross Profit

4,492.34

5,609.40

6,270.81

6,284.13

Operating Expense

2,766.20

3,402.23

3,765.11

4,073.52

Selling General And Administration

2,757.45

3,397.22

3,762.38

4,066.56

Total Expenses

6,384.38

7,412.10

8,082.43

8,891.98

Operating Income

1,726.14

2,207.18

2,505.70

2,210.61

Total Operating Income As Reported

1,328.41

2,132.68

2,505.70

2,210.61

EBITDA

2,017.93

2,586.56

2,952.22

2,706.84

Normalized EBITDA

2,415.66

2,661.06

2,952.22

2,706.84

EBIT

1,726.14

2,207.18

2,505.70

2,210.61

Other Non Operating Income Expenses

4.16

43.06

70.38

28.35

Other Income Expense

-393.57

-31.44

70.38

28.35

Pretax Income

1,332.57

2,175.74

2,576.08

2,238.97

Tax Provision

477.77

625.54

761.46

659.78

Tax Rate For Calcs

Tax Effect Of Unusual Items

-142.79

-21.46

Net Income Continuous Operations

854.80

1,550.19

1,814.62

1,579.18

Net Income From Continuing And Discontinued Operation

854.80

1,550.19

1,814.62

1,579.18

Net Income From Continuing Operation Net Minority Interest

854.80

1,550.19

1,814.62

1,579.18

Net Income

854.80

1,550.19

1,814.62

1,579.18

Net Income Common Stockholders

854.80

1,550.19

1,814.62

1,579.18

Net Income Including Noncontrolling Interests

854.80

1,550.19

1,814.62

1,579.18

Normalized Income

1,109.75

1,603.23

1,814.62

1,579.18

Diluted NI Availto Com Stockholders

854.80

1,550.19

1,814.62

1,579.18

Basic Average Shares

127.67

126.73

123.74

118.98

Diluted Average Shares

128.02

127.06

123.94

119.07

Reconciled Depreciation

291.79

379.38

446.52

496.23

Reconciled Cost Of Revenue

3,335.14

3,635.50

3,873.53

4,329.20

Total Unusual Items

-397.73

-74.50

Total Unusual Items Excluding Goodwill

-397.73

-74.50

Special Income Charges

-397.73

-74.50

Impairment Of Capital Assets

407.91

44.19

Restructuring And Mergern Acquisition

41.39

30.32

Depreciation Amortization Depletion Income Statement

8.75

5.01

2.74

6.96

Depreciation And Amortization In Income Statement

8.75

5.01

2.74

6.96

Gain On Sale Of Ppe

10.18

Amortization

8.75

5.01

2.74

6.96

Amortization Of Intangibles Income Statement

8.75

5.01

2.74

6.96

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

lululemon athletica inc.this co.

LULU

$14.9B

9.46↓ discount

3.01

31.8%

5.51

Amcor plc

AMCR

$17.4B

34.06

1.48

4.4%

17.86

NVR, Inc.

NVR

$16.7B

12.45

4.31

34.7%

8.71

Aptiv PLC

APTV

$15.4B

93.52

1.68

1.8%

9.54

Tractor Supply Company

TSCO

$15.4B

14.05

lululemon athletica inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

lululemon athletica inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on