— Know what they know.
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Not Investment Advice

LULU

NASDAQ · USD
Lululemon Athletica Inc.
Consumer Cyclical · Apparel - Retail
CEO Heidi O'Neill Employees 39,000 R&D / revenue 0.0%
Last price
$97.10−2.01%last session
Market cap
$11.2B
P/E (TTM)
8.0x
From 52w high
−57.0%
From 52w low
+7.4%
1-year return
−41.0%
RSI 14 · vs SMA200
46.0 · −30.2%
IS score
62.6/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

LULU   SPY   XLY (sector ETF) · weekly closes
6080100120Jan 26Apr 26Jul 26Oct 26SPY 116XLY 97LULU 59

Score DNA

Each bar is a 0-100 score within the scored universe
78
Profitability
28
Growth
75
Value
59
Momentum
100
Risk (safety)
81
Quality
87
Balance sheet
84
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Insider buying
Warnings
None of the computed warning flags fires for LULU (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Wide, Cost AdvantagePiotroski 5 / 9Altman Z 5.3Beta 0.862 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
1
$0.50M bought
Form 144 notices (12m): 3, $3.4M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−101
127 new holders, 217 closed
856 filers hold 75.0% · 285 added, 338 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+141
540 funds adding shares
399 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
44.2%
20-day avg 56.2%, 50-day avg 54.8%
Latest 12.0 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$11.1B
Revenue growth YoY+4.9%
Gross margin56.6%
Operating income$2.2B
Operating margin19.9%
Net income$1.6B
Net margin14.2%
EPS (diluted)$13.26
Cash flow
Operating cash flow$1.6B
Capital expenditure$680.8M
Free cash flow$921.7M
FCF conversion (FCF / OCF)57.5%
Stock-based compensation$62.2M
FCF less SBC$859.5M
Buybacks$1.2B
Dividends$0
Balance sheet & returns
Cash & short-term investments$1.8B
Total debt$298.7M
Net cash$1.5B
Shareholders' equity$5.0B
Goodwill & intangibles$191.2M
Debt / equity0.45
ROE (TTM)29.7%
ROIC (TTM)19.7%
Operating margin by fiscal year
21.3%FY202116.4%FY202222.2%FY202323.7%FY202419.8%FY2025
Revenue $6.3B (FY2021) to $11.1B (FY2025), a 15.4% CAGR.

Valuation

P/E (TTM)8.0x
EV / EBITDA4.7x
Price / sales1.01x
Price / FCF8.3x
FCF yield12.04%
Buyback yield10.48%
SBC / revenue0.4%
Price / book2.29x
Forward P/E FY202710.1x
Forward multiples divide today's price by Street EPS estimates. Street mean target $99.50 across 10 analysts last quarter is theirs, not ours.

LULU vs industry median

62 companies in Apparel - Retail
Gross margin 56.1% 43.6% Operating margin 17.8% 5.4% Net margin 12.8% 3.2% ROIC 19.7% 8.2%
LULU (TTM)Industry median Asset turnover 1.31 vs industry 1.47 · financial leverage 1.77

Earnings delivery

Next report 2026-12-10 · consensus EPS $0.97
100%
beat rate, 12 of 12 quarters
+6.6%
median EPS surprise
12
longest beat streak
+11+6+7+8+7+5+1+7+17+5+1+63
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-12-07 to 2026-09-03. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
LULU Lululemon Athletica Inc. $11.2B8.0x29.7%12.8%+4.9% −41.0%
GAP The Gap, Inc. $8.1B6.8x33.8%13.7%+1.1% +15.4%
BURL Burlington Stores, Inc. $16.5B23.6x41.4%6.1%+11.0% −4.4%
URBN Urban Outfitters, Inc. $7.4B13.3x20.9%14.5%+11.0% +30.0%
VSCO Victoria's Secret & Co. $7.3B40.9x29.3%3.1%+8.6% +230.4%
ANF Abercrombie & Fitch Co. $6.5B12.9x40.5%14.5%+4.7% —
BOOT Boot Barn Holdings, Inc. $3.7B15.3x19.2%11.8%+17.6% —
AEO American Eagle Outfitters, I $3.0B9.0x20.4%9.7%+8.2% —
12-month window: SPY +15.9%, sector ETF XLY −3.2%. Past returns describe history only.

Recent 8-K filings

2026-10-07Officer/Director Change; Regulation FD; Exhibits
2026-09-14Officer/Director Change; Bylaws Amendment; Exhibits
2026-09-03Earnings Release; Exhibits
2026-08-13Other Events
2026-06-26Officer/Director Change; Shareholder Vote
2026-06-04Earnings Release; Exhibits

Context

Shares outstanding115,825,979
Free float87.8%
Institutional ownership75.0%
Beta0.86
Dividend yield0.00%
Last dividendNone on file
50 / 200-day average$107.29 / $139.71
Large-cap Consumer Cyclical median P/E24.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Wide).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where LULU sits among 14 scored companies in Apparel - Retail (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureLULUIndustry medianIndustry percentileSector median
P/E (TTM) 7.9x 11.5x
15th		 17.7x
PEG (P/E ÷ 3-yr EPS CAGR) 0.48 0.48
50th		 0.96
Price / sales 1.0x 1.1x
46th		 1.0x
Price / book 2.3x 2.7x
38th		 2.4x
Price / tangible book 2.9x 3.1x
46th		 4.2x
Price / free cash flow 8.3x 14.4x
31st		 15.2x
Price / operating cash flow 5.7x 9.8x
31st		 10.2x
Enterprise value $12.0B $6.0B
77th		 $5.6B
EV / sales 1.1x 1.2x
46th		 1.4x
EV / EBITDA 4.7x 9.9x
0th		 11.4x
EV / EBIT 6.0x 12.3x
0th		 16.0x
EV / free cash flow 8.9x 17.3x
15th		 21.0x
Earnings yield 12.6% 8.7%
85th		 4.8%
FCF yield 12.0% 7.1%
69th		 5.9%
Operating cash flow yield 17.6% 10.2%
69th		 9.3%
Graham number (per share) $109.49 $61.31
100th		 $33.39

Profitability (TTM)

MeasureLULUIndustry medianIndustry percentileSector median
Gross margin 56.1% 43.9%
92nd		 34.2%
EBITDA margin 23.0% 12.7%
92nd		 11.7%
Operating margin 17.8% 11.2%
92nd		 8.7%
EBIT margin 18.2% 10.2%
92nd		 8.2%
Net margin 12.8% 8.5%
92nd		 4.9%
NOPAT margin 12.5% 8.5%
92nd		 6.8%
FCF margin 12.2% 7.8%
92nd		 6.5%
Operating cash flow margin 17.9% 11.8%
92nd		 10.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 38.2% 28.0%
77th		 17.2%
Stock comp / revenue 0.4% 0.6%
25th		 0.6%
Effective tax rate 29.4% 24.1%
100th		 22.4%

Returns on capital

MeasureLULUIndustry medianIndustry percentileSector median
ROE (on average equity) 30.9% 25.9%
54th		 12.8%
ROA 17.7% 10.2%
92nd		 4.4%
ROIC 25.1% 15.5%
69th		 9.3%
ROCE 30.1% 14.6%
69th		 9.9%
Return on tangible assets 25.2% 12.7%
92nd		 7.4%
Cash ROIC (OCF / invested capital) 35.8% 21.4%
69th		 14.4%
Gross profitability (GP / assets) 73.4% 53.6%
85th		 31.6%
ROIC, 3-yr average 28.4% 11.1%
92nd		 7.4%
ROIC, 5-yr average 38.6% 12.8%
92nd		 9.1%
ROE, 5-yr average 35.6% 25.4%
77th		 15.8%
Incremental ROIC 16.6% 60.6%
8th		 11.2%

Growth

MeasureLULUIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 1.7% 6.9%
8th		 6.0%
Revenue growth (QoQ) -2.3% 5.5%
15th		 6.6%
Revenue CAGR, 3 yr 7.9% 5.8%
62nd		 3.0%
Revenue CAGR, 5 yr 15.0% 5.9%
92nd		 5.9%
Gross profit CAGR, 3 yr 7.5% 8.3%
46th		 3.3%
Operating income CAGR, 3 yr 8.4% 14.1%
31st		 2.1%
Net income growth (TTM YoY) -20.6% 23.0%
9th		 4.7%
Net income CAGR, 3 yr 12.1% 15.1%
33rd		 1.4%
EPS growth (TTM YoY) -15.8% 26.1%
9th		 7.6%
EPS CAGR, 3 yr 16.6% 16.6%
50th		 3.4%
EPS CAGR, 5 yr 14.7% 11.7%
64th		 2.9%
FCF growth (TTM YoY) 15.9% 54.8%
27th		 26.3%
FCF CAGR, 3 yr 11.8% 10.8%
64th		 6.5%
Operating cash flow CAGR, 3 yr 6.6% 11.0%
25th		 6.7%
Book value CAGR, 3 yr 15.2% 16.6%
38th		 8.1%
Dividend CAGR, 3 yr —
Sustainable growth rate 30.9% 20.1%
69th		 12.2%

Margin history & stability

MeasureLULUIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 57.9% 42.6%
92nd		 34.9%
Operating margin, 3-yr average 21.0% 9.3%
100th		 8.0%
Net margin, 3-yr average 15.2% 7.1%
92nd		 4.8%
FCF margin, 3-yr average 13.3% 6.0%
92nd		 5.7%
Revenue stability (0-1) 0.94 0.92
62nd		 0.80
Earnings stability (0-1) 0.64 0.63
54th		 0.43
Margin stability (0-1) 0.98 0.95
77th		 0.92

Liquidity (latest quarter)

MeasureLULUIndustry medianIndustry percentileSector median
Cash & short-term investments $1.4B $645.8M
77th		 $278.1M
Net cash (− = net debt) −$751.4M −$658.1M
38th		 −$1.2B
Working capital $2.1B $579.4M
85th		 $298.0M
Current ratio 2.19 1.59
85th		 1.49
Quick ratio 1.24 0.74
85th		 0.92
Cash ratio (cash + ST investments / current liabilities) 0.77 0.52
69th		 0.31
Defensive interval (days) 134 days 125 days
54th		 290 days

Leverage & solvency (latest quarter)

MeasureLULUIndustry medianIndustry percentileSector median
Total debt $2.1B $1.3B
69th		 $1.8B
Debt / equity 0.45 1.07
8th		 1.04
Net debt / equity 0.16 0.65
8th		 0.78
Debt / assets 25.2% 38.7%
8th		 39.7%
Debt / capital 30.9% 51.7%
8th		 51.0%
Debt / EBITDA 0.84 2.36
0th		 3.26
Net debt / EBITDA 0.29 1.62
8th		 2.42
Interest coverage (EBIT / interest) —
Cash interest coverage —
Debt payback (years of OCF) 1.1 yrs 2.8 yrs
0th		 3.8 yrs
Liabilities / assets 43.5% 62.2%
0th		 68.1%
IS credit model rating AA+ — —
Implied credit spread (bps) 65 162
0th		 275

Efficiency

MeasureLULUIndustry medianIndustry percentileSector median
Asset turnover 1.39 1.38
54th		 1.00
Fixed asset turnover 2.78 2.72
54th		 3.73
Inventory turnover 2.8 4.1
31st		 5.3
Receivables turnover 71.5 68.2
58th		 19.9
Days sales outstanding 5 days 5 days
46th		 18 days
Days inventory outstanding 129 days 90 days
69th		 68 days
Days payables outstanding 27 days 47 days
8th		 42 days
Cash conversion cycle (days) 107 days 52 days
85th		 44 days
Capex / revenue 5.7% 3.6%
83rd		 3.1%
Capex / depreciation 1.16 1.41
33rd		 0.89
Operating expense ratio 41.7% 36.1%
69th		 24.8%

Cash flow & earnings quality

MeasureLULUIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.40 1.43
46th		 1.76
FCF / net income 0.96 0.96
46th		 1.18
FCF / operating cash flow 68.3% 70.1%
33rd		 70.1%
Capex / operating cash flow 31.7% 29.9%
67th		 29.9%
Accruals ratio -7.0% -5.7%
23rd		 -5.7%
Sloan accruals ratio -4.6% -3.2%
31st		 -3.6%
Earnings quality score (0-1) 0.75 0.75
8th		 0.75

Dividends & buybacks

MeasureLULUIndustry medianIndustry percentileSector median
Dividend yield 0.0% 0.4%
0th		 0.8%
Dividend per share (TTM) $0.00 $0.14
0th		 $0.40
Payout ratio (dividends / net income) 0.0% 9.4%
0th		 17.8%
Dividends / FCF 0.0% 3.6%
0th		 11.6%
Dividend growth (YoY) —
Buyback yield 10.4% 1.7%
100th		 1.6%
Shareholder yield (dividends + buybacks) 10.4% 3.0%
92nd		 3.7%
Share count change (YoY) -5.6% -0.7%
15th		 -0.9%
Buybacks, last 5 years $4.7B $665.8M
85th		 $198.3M

Scores & forensic checks

MeasureLULUIndustry medianIndustry percentileSector median
IS score 63 65
31st		 50
IS profitability 78 63
92nd		 38
IS growth 28 62
8th		 53
IS value 75 68
62nd		 50
IS momentum 59 87
8th		 72
IS risk (safety) 100 95
54th		 65
IS quality 81 78
85th		 63
IS balance sheet 87 71
100th		 48
IS earnings quality 84 86
31st		 77
IS cash flow 66 63
69th		 56
Piotroski F-score (0-9) 5 7
0th		 6
Altman Z-score 5.3 4.0
85th		 2.8
Beneish M-score −2.56 −2.71
77th		 −2.69
Ohlson O-score −9.64 −7.63
0th		 −6.83
IS credit score 92 73
92nd		 58

Per share

MeasureLULUIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $12.56 $5.47
100th		 $2.05
Book value per share $42.43 $25.02
85th		 $14.46
Tangible book per share $40.77 $21.89
92nd		 $3.70
Revenue per share $98.25 $80.32
69th		 $46.29
FCF per share $11.99 $4.66
77th		 $2.72
Operating cash flow per share $17.55 $8.83
85th		 $4.86
Cash per share $12.31 $6.64
77th		 $3.59

Size (TTM)

MeasureLULUIndustry medianIndustry percentileSector median
Market cap $11.2B $5.1B
77th		 $3.6B
Revenue $11.1B $5.5B
69th		 $3.9B
EBITDA $2.6B $775.9M
85th		 $442.3M
Net income $1.4B $436.4M
85th		 $178.6M
Free cash flow $1.4B $294.1M
85th		 $206.3M
Total assets $8.5B $3.9B
69th		 $4.4B
Shareholders' equity $4.8B $1.6B
85th		 $957.6M
Employees 39,000 35,000
54th		 12,300

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-09Frank Meghan
Chief Financial Officer
 Award / grant 42,328——74,292
2026-09-09O'Neill Heidi
Director, CEO
 Award / grant 28,079——28,079
2026-09-09O'Neill Heidi
Director, CEO
 Award / grant 40,223$99.72$4.0M40,223
2026-09-09O'Neill Heidi
Director, CEO
 Award / grant 105,295$99.72$10.5M105,295
2026-06-25Maurer Marc
Director
 Award / grant 1,606——1,606
2026-06-25Gentile Laura
Director
 Award / grant 1,606——2,606
2026-06-25Mahe Isabel
Director
 Award / grant 1,606——4,125
2026-06-25Mcneill Jon
Director
 Award / grant 1,606——10,928
2026-06-25Bracey Esi Eggleston
Director
 Award / grant 1,606——1,853
2026-06-25Henry Kathryn
Director
 Award / grant 1,606——7,122
2026-06-25Bergh Charles V
Director
 Award / grant 1,606——1,878
2026-06-25List Teri
Director
 Award / grant 1,606——2,839

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprJunSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired16233,838$14.5M
Open-market buyAcquired14,275$500,384
Tax withholdingDisposed283$9,757
—Disposed40—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 3 notices · 16,791 shares · $3.4M
FiledFilerShares proposedEst. proceeds
2026-04-08Nicole Neuburger622$100,142
2025-12-30Meghan Frank2,658$561,830
2025-12-16Celeste Burgoyne13,511$2.8M
2025-09-30Nicole Neuburger615$109,470
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 10 trades (6 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-04Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-04-13Ro KhannaHousePurchase$1,001 - $15,0002026-05-13
2026-03-13Gilbert CisnerosHouseSale (Full)$1,001 - $15,0002026-04-08
2024-05-03Tommy TubervilleSenateSale (Full)$1,001 - $15,0002024-06-14
2024-05-03Tommy TubervilleSenateSale (Full)$1,001 - $15,0002024-06-13
2024-05-03Thomas Hawley TubervilleSenateSale (Full)$1,001 - $15,0002024-06-13
2024-04-05Tommy TubervilleSenatePurchase$1,001 - $15,0002024-05-15
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.8,850,632$1.0B7.64%
VANGUARD CAPITAL MANAGEMENT LLC6,830,001$779.8M5.90%
VANGUARD PORTFOLIO MANAGEMENT LLC5,048,153$576.4M4.36%
STATE STREET CORP4,517,466$515.8M3.90%
FEDERATED HERMES, INC.3,625,210$413.9M3.13%
GEODE CAPITAL MANAGEMENT, LLC2,970,005$337.9M2.56%
Invesco Ltd.2,331,706$266.2M2.01%
FIL Ltd2,025,858$231.3M1.75%
FLOSSBACH VON STORCH SE1,816,360$207.4M1.57%
GOLDMAN SACHS GROUP INC1,315,759$150.2M1.14%
MORGAN STANLEY1,089,225$124.4M0.94%
CITADEL ADVISORS LLC1,074,188$122.7M0.93%
NORGES BANK1,031,854$117.8M0.89%
CITIGROUP INC977,992$111.7M0.84%
UBS Group AG926,826$105.8M0.80%

Institutional ownership by quarter

2023-092026-0675.0%
% of shares held by 13F filers
2023-092026-06856
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-3085675.0%127285338217
2026-03-3195775.2%151322354188
2025-12-311,01379.3%245296366137
2025-09-3092775.0%124316374234
2025-06-301,05584.7%136392405208
2025-03-311,14493.0%124455415192
2024-12-311,23590.6%275379447103
2024-09-301,08488.9%153391403140
2024-06-301,08097.0%129463361230
2024-03-311,19593.6%141472403165
2023-12-311,23595.5%268424380104
2023-09-301,08694.0%9643534384

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-09-03SCHEDULE 13D/ADennis J. Wilson8.6%9,570,851
2026-09-03SCHEDULE 13D/ALIPO Investments (USA), Inc.3.1%3,401,596
2026-09-03SCHEDULE 13D/ALow Tide Properties Ltd.0.2%225,830
2026-09-03SCHEDULE 13D/AHouse of Wilson Ltd.0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.01%$313.8M
VTSAX0.01%$313.8M
VSMPX0.01%$313.8M
VTI0.01%$313.8M
VOO0.02%$263.9M
VFFSX0.02%$263.9M

Share structure

Shares outstanding115,825,979
Float101,712,621
Free float87.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$6.3B$8.1B$9.6B$10.6B$11.1B
Cost of revenue$2.6B$3.6B$4.0B$4.3B$4.8B
Gross profit$3.6B$4.5B$5.6B$6.3B$6.3B
R&D$0$0$0$0$0
SG&A$2.2B$2.8B$3.4B$3.8B$4.1B
Operating income$1.3B$1.3B$2.1B$2.5B$2.2B
EBITDA$1.6B$2.0B$2.6B$3.0B$2.7B
Pretax income$1.3B$1.3B$2.2B$2.6B$2.2B
Income tax$358.5M$477.8M$625.5M$761.5M$659.8M
Net income$975.3M$854.8M$1.6B$1.8B$1.6B
EPS, diluted$7.49$6.68$12.20$14.64$13.26
Diluted shares130.3M128.0M127.1M123.9M119.1M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$1.3B$1.2B$2.2B$2.0B$1.8B
Receivables$195.9M$318.5M$308.5M$302.4M$190.7M
Inventory$966.5M$1.4B$1.3B$1.4B$1.7B
Total current assets$2.6B$3.2B$4.1B$4.0B$4.3B
PP&E, net$1.7B$2.2B$2.8B$3.2B$3.7B
Goodwill & intangibles$458.2M$46.1M$24.1M$171.2M$191.2M
Total assets$4.9B$5.6B$7.1B$7.6B$8.5B
Accounts payable$289.7M$172.7M$348.4M$271.4M$331.4M
Total current liabilities$1.4B$1.5B$1.6B$1.8B$1.9B
Long-term debt$0$0$0$0$0
Total liabilities$2.2B$2.5B$2.9B$3.3B$3.5B
Shareholders' equity$2.7B$3.1B$4.2B$4.3B$5.0B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$975.3M$854.8M$1.6B$1.8B$1.6B
Depreciation & amortization$224.2M$291.8M$379.4M$446.5M$496.2M
Stock-based compensation$69.1M$78.1M$93.6M$90.0M$62.2M
Change in working capital$129.1M−$659.9M$199.2M−$51.9M−$409.4M
Operating cash flow$1.4B$966.5M$2.3B$2.3B$1.6B
Capital expenditure−$394.5M−$638.7M−$651.9M−$689.2M−$680.8M
Free cash flow$994.6M$327.8M$1.6B$1.6B$921.7M
Investing cash flow−$427.9M−$569.9M−$654.1M−$798.2M−$662.1M
Net debt issued / repaid$0$0$0$0$0
Buybacks−$812.6M−$444.0M−$558.7M−$1.6B−$1.2B
Dividends paid$0$0$0$0$0

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin57.7%55.4%58.3%59.2%56.6%
Operating margin21.3%16.4%22.2%23.7%19.8%
Net margin15.6%10.5%16.1%17.1%14.2%
FCF margin15.9%4.0%17.1%15.0%8.3%
ROE36.8%29.0%42.0%42.4%34.0%
ROIC41.3%27.8%44.8%45.1%31.4%
ROA21.4%16.2%24.4%24.7%19.7%
Debt / equity0.320.340.330.360.36
Interest coverage—————
Current ratio1.862.122.492.162.26
Revenue growth+42.1%+29.6%+18.6%+10.1%+4.9%
EPS growth+67.5%−11.2%+83.1%+21.6%−10.9%
P/E at year end41.9x46.5x39.0x27.8x13.2x
EV / EBITDA at year end25.4x19.6x23.1x17.0x7.6x
FCF yield at year end2.43%0.83%2.72%3.14%4.44%
Dividend payout0.0%0.0%0.0%0.0%0.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Women's Product$4.2B$5.3B$6.1B$6.7B$7.0B
Men's Product$1.5B$2.0B$2.3B$2.6B$2.7B
Other Segments$549.0M$894.1M$1.2B$1.3B$1.4B

Revenue by region · FY2025

UNITED STATES$6.3B · 48%
CHINA$3.7B · 28%
CANADA$1.4B · 11%
Outside Of North America$1.3B · 10%
Hong Kong SAR, Taiwan, and Macau SAR$199.1M · 2%
MEXICO$95.5M · 1%

Street estimates by fiscal year

Next report 2026-12-10 · consensus EPS $0.97 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$11.0B$11.0B – $11.1B$13.05$12.99 – $13.15187.4x
2026$11.0B$10.9B – $11.4B$13.04$12.98 – $13.14207.4x
2027$10.5B$10.3B – $11.0B$9.61$9.41 – $9.721810.1x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-09-03$1.79$2.92+63.1%$2.5B$2.4B−1.7%
2026-06-04$1.67$1.69+1.2%$2.4B$2.5B+1.4%
2026-03-17$4.79$5.01+4.6%$3.6B$3.6B+1.8%
2025-12-11$2.22$2.59+16.7%$2.5B$2.6B+3.4%
2025-09-04$2.91$3.10+6.5%$2.5B$2.5B−0.3%
2025-06-05$2.58$2.60+0.8%$2.4B$2.4B+0.5%
2025-03-27$5.85$6.14+5.0%$3.6B$3.6B+1.0%
2024-12-05$2.68$2.87+7.1%$2.4B$2.4B+1.7%
2024-08-29$2.93$3.15+7.5%$2.4B$2.4B−1.5%
2024-06-05$2.38$2.54+6.7%$2.2B$2.2B+0.4%
2024-03-21$5.00$5.29+5.8%$3.2B$3.2B+0.4%
2023-12-07$2.28$2.53+11.0%$3.2B$2.2B−30.7%
2023-08-31$2.54$2.68+5.5%$2.1B$2.2B+3.5%
2023-06-01$1.98$2.28+15.2%$1.9B$2.0B+3.9%
2023-03-28$4.25$4.40+3.5%$2.7B$2.8B+2.7%
2022-12-08$1.97$2.00+1.5%$1.8B$1.9B+2.3%
2022-09-01$1.87$2.20+17.6%$1.8B$1.9B+5.3%
2022-06-02$1.43$1.48+3.5%$1.5B$1.6B+4.4%
2022-03-29$3.28$3.37+2.7%$2.1B$2.1B−0.3%
2021-12-09$1.41$1.62+14.9%$2.2B$1.5B−33.0%
2021-09-08$1.19$1.65+38.7%$1.4B$1.5B+4.8%
2021-06-03$0.91$1.16+27.5%$1.1B$1.2B+9.4%
2021-03-30$2.49$2.58+3.6%$1.7B$1.7B+4.2%
2020-12-10$0.88$1.16+31.8%$1.1B$1.1B+0.0%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.306-150.606-220.306-290.407-060.407-130.307-200.407-270.308-030.508-100.508-170.508-241.108-31
Week ofNotionalSharesTrades
2026-08-31$1.1B10,199,667169,825
2026-08-24$506.0M4,267,815108,264
2026-08-17$455.3M3,848,355104,995
2026-08-10$505.4M4,145,450111,045
2026-08-03$349.9M2,812,26977,488
2026-07-27$362.7M3,052,37783,832

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1544.2%
DateShort shareShort volumeTotal volume
2026-10-1544.2%906,7822,049,894
2026-10-1446.6%505,0171,082,980
2026-10-1357.7%703,9831,220,436
2026-10-1259.5%894,6411,503,349
2026-10-0955.5%767,5651,384,184
2026-10-0859.2%1,074,7651,816,274
2026-10-0756.2%1,266,9312,255,205
2026-10-0645.4%1,084,5952,388,078
2026-10-0554.0%1,837,7583,402,780
2026-10-0243.6%1,230,1152,822,316
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-1.8Jan-1.9Feb+5.6Mar+5.6Apr-1.6May+0.8Jun+2.4Jul+2.1Aug+2.2Sep+1.6Oct+2.7Nov+4.8Dec
MonthAvg returnUp yearsYears
Jan−1.8%37%19
Feb−1.9%53%19
Mar+5.6%58%19
Apr+5.6%56%18
May−1.6%22%18
Jun+0.8%50%18
Jul+2.4%58%19
Aug+2.1%53%19
Sep+2.2%63%19
Oct+1.6%47%19
Nov+2.7%58%19
Dec+4.8%63%19
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1446.0
MFI47.1
ADX26.8
Stochastic %K / %D55.9 / 43.1
Williams %R-34.7
CCI25
TSI / signal-20.9 / -24.6
Chaikin money flow0.01
ATR$3.71
Bollinger width14.8%
Volume vs 20-day avg0.77x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$96.96 (+0.1%)
SMA 50$106.74 (−9.0%)
SMA 200$139.15 (−30.2%)
EMA 21$97.60 (−0.5%)
EMA 50$104.16 (−6.8%)
EMA 200$136.75 (−29.0%)
Bollinger upper$104.12 (−6.7%)
Bollinger lower$89.81 (+8.1%)
Parabolic SAR$91.03 (+6.7%)
Open the live chart, 110+ indicators

About Lululemon Athletica Inc.

Lululemon Athletica Inc., alongside its subsidiaries, specializes in the design, global distribution, and retail of athletic apparel and accessories for both women and men. Its business operations are structured into two main divisions: company-owned retail establishments and direct-to-consumer sales. The firm's offerings encompass a range of clothing such as pants, shorts, tops, and jackets, all crafted for promoting a healthy lifestyle and facilitating athletic endeavors. These activities span yoga, running, training, and other physically demanding pursuits. Beyond apparel, Lululemon also supplies fitness-related accessories and a selection of footwear. Customers can acquire Lululemon products through numerous channels. These include a global network of corporate-managed stores, outlet locations, and seasonal warehouse sales. The company also sells through an interactive digital workout platform and via wholesale partnerships with entities like yoga studios, health clubs, and fitness centers. Further sales occur through temporary pop-up shops, as well as various licensing and supply agreements. A significant portion of sales is conducted directly with consumers through dedicated mobile applications and its primary e-commerce website, lululemon.com. By January 30, 2022, Lululemon boasted 574 stores operating under its brand name across numerous international markets. These markets span the United States, Canada, the People's Republic of China, Australia, the United Kingdom, Japan, New Zealand, Germany, South Korea, Singapore, France, Malaysia, Sweden, Ireland, the Netherlands, Norway, and Switzerland. Founded in 1998, Lululemon Athletica Inc. maintains its corporate base in Vancouver, Canada.

https://corporate.lululemon.com

Key executives

NameTitlePayBorn
Heidi L. O'NeillChief Executive Officer & Director$3.6M1965
Andre MaestriniPresident & Chief Commercial Officer$1.2M1964
Meghan FrankChief Financial Officer$1.2M1977
Nicole NeuburgerChief Brand & Product Activation Officer$1.1M1982
Edward DagneseChief Supply Chain Officer$865,5291966
Elizabeth BinderChief Merchandising Officer——
Howard Brett TubinVice President of Investor Relations——
Jennifer BattersbySenior Vice President of Product Engine——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Calvin McDonald, Chief Executive Officer2024$1.3M$5.5M$2.2M$14.6M
Celeste Burgoyne, President, Americas and Global Guest Innovation2024$875,472$2.8M$708,257$5.6M
Meghan Frank, Chief Financial Officer2024$814,380$2.1M$592,950$4.4M
Nicole Neuburger, Chief Brand & Product Activation Officer2024$761,051$2.1M$554,121$4.3M

Employees

16k201919k202025k202129k202234k202338k202439k202539k2026

Dividends

Ex-dateAmountPaid
None on file.

Moat model

Wide · Cost Advantage · 2026-08-02
Cost advantage100
Intangibles32
Switching costs82
Network effect55
Efficient scale100
Our component scores (0-100) and overall 71.8; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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