LULUNasdaqApparel & Other Finishd Prods of Fabrics & Similar MatlFiscal year ends January 31
lululemon athletica inc.
Financials through Q2 FY2026, quarter ended Aug 2, 2026Last filing: 10-Q on Sep 3, 2026
$97.76+0.66 (+0.68%)
Close on Oct 19, 2026
- Market cap
- $11.04B
- P/E (TTM)
- 8.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
56.6%+0.6 pts over 5 years
Operating margin
19.9%+1.3 pts over 5 years
Net margin
14.2%+0.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.9% | +11.0% | +20.3% | +18.3% | |
| Gross profit | +0.2% | +11.8% | +20.6% | +20.2% | |
| Operating income | -11.8% | +18.5% | +21.9% | +19.6% | |
| Net income | -13.0% | +22.7% | +21.8% | +19.5% | |
| EPS, diluted | -9.4% | +25.7% | +24.1% | +21.5% | |
| Free cash flow | -41.8% | +41.1% | +9.9% | +19.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 25.4% | 26.1% | 34.0% | |
| Return on assets | 20.4% | 15.8% | 19.7% | |
| Current ratio | 4.80 | 2.41 | 2.26 | |
| Inventory turnover | 3.9× | 3.3× | 3.1× | |
| Capex to revenue | 6.4% | 5.2% | 6.1% | |
| Diluted shares | 137M | 131M | 119M |
Where the cash went
Fiscal 2021 to 2025, five years combined
lululemon athletica generated $8.53B from operations and spent $7.69B on capital expenditure, dividends and share buybacks. 40% of that went back into the business.
Generated
$8.53B
Used
$7.69B
Capital expenditure$3.06B40%Dividends$00%Share buybacks$4.63B60%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin14.2%
×Asset turnover1.38×
×Equity multiplier1.73×
=Return on equity, FY202534.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 14.2% | 1.38× | 1.73× | 34.0% |
| FY2024 | 17.1% | 1.44× | 1.72× | 42.4% |
| FY2023 | 16.1% | 1.51× | 1.72× | 42.0% |
| FY2022 | 10.5% | 1.54× | 1.79× | 29.0% |
| FY2021 | 15.6% | 1.37× | 1.72× | 36.8% |
| FY2020 | 13.4% | 1.18× | 1.66× | 26.1% |
| FY2019 | 16.2% | 1.48× | 1.58× | 38.0% |
| FY2018 | 14.7% | 1.61× | 1.34× | 31.8% |
| FY2017 | 9.8% | 1.45× | 1.24× | 17.5% |
| FY2016 | 12.9% | 1.58× | 1.24× | 25.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.58B
- Cash generatingOperating cash flow above zero$1.60B
- Return on assets improvedROA up on the prior year25.6% → 20.8%
- Earnings backed by cashOperating cash flow above net income$1.60B vs $1.58B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.16 → 2.26
- No dilutionShare count did not rise124M → 119M
- Gross margin improvedGross margin up on the prior year59.22% → 56.60%
- More efficientAsset turnover rose1.49 → 1.46