lululemon athletica inc. (LULU)
Consumer Discretionary · Apparel, Accessories & Luxury Goods · US stock · price as of 22 Oct 2026
Key indicators
| Price | $104.06 |
|---|---|
| 52-week range | $90.38 – $225.98 |
| Market cap | $11.8B |
| P/E (trailing) | 8.5× |
| EV / EBITDA | 4.1× |
| Free-cash-flow yield | 11.5% |
| Dividend yield | – |
| Revenue (last 12 months) | $11.1B |
| Revenue growth (3y a year) | 11.0% |
| Operating margin | 17.8% |
| Return on invested capital | 41.1% |
| Net debt / EBITDA | -0.6× |
Fair value
Fair value is not shown for this company.
X-Ray Score
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Lululemon designs and sells athletic apparel and accessories for yoga, running, training and everyday wear. It sells through its own retail stores, its websites and mobile apps, and to a lesser extent through outlets and wholesale partners. Revenue comes from product sales to consumers, and the company relies on brand loyalty, product design and its growth in international markets.
The company reported revenue of $11.1 billion for the last twelve months at lululemon athletica inc.. Revenue growth over the past three years averaged 11.0% a year. It kept an operating margin of 17.8%. The return on invested capital reached 41%, a measure of profit earned on the money invested in the business. Net debt to EBITDA is -0.6 times, which means the company holds more cash than debt. The company does not pay a dividend.
StocksXray gives lululemon athletica inc. an X-Ray Score of 76 out of 100 (high confidence), ahead of 96% of the S&P 500 stocks in its sector. Its strongest lens is valuation (94) and its weakest is profitability (65).
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
| FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Now | |
|---|---|---|---|---|---|---|
| Price | $315.91 | $310.85 | $478.03 | $414.20 | $174.50 | $104.06 |
| Market cap | $41.2B | $39.8B | $60.7B | $51.3B | $20.8B | $11.8B |
| P/E | 42.2× | 46.5× | 39.2× | 28.3× | 13.2× | 8.5× |
| EV / revenue | 6.4× | 4.8× | 6.1× | 4.7× | 1.7× | 0.9× |
| EV / EBITDA | 25.6× | 23.8× | 23.3× | 16.7× | 7.0× | 4.1× |
| Price / free cash flow | 41.4× | 121.4× | 36.9× | 32.4× | 22.5× | 8.7× |
| Free-cash-flow yield | 2.4% | 0.8% | 2.7% | 3.1% | 4.4% | 11.5% |
| Price / book | 15.0× | 12.6× | 14.4× | 11.9× | 4.2× | 2.5× |
| Dividend yield | – | – | – | – | – | – |
Fundamentals checklist ● 11 Good · ● 4 Average · ● 0 Bad · each check graded against the sector
Cash quality
Risk models
Growth
Balance sheet
Valuation
Profitability
Financials US$ millions, from SEC filings; last column is the last twelve months
| Income statement | FY22 | FY23 | FY24 | FY25 | FY26 | LTM |
|---|---|---|---|---|---|---|
| Revenue | 6,257 | 8,111 | 9,619 | 10,588 | 11,103 | 11,094 |
| Gross profit | 3,609 | 4,492 | 5,609 | 6,271 | 6,284 | 6,225 |
| Operating income | 1,333 | 1,328 | 2,133 | 2,506 | 2,211 | 1,979 |
| Net income | 975 | 855 | 1,550 | 1,815 | 1,579 | 1,418 |
| Diluted EPS ($) | 7.49 | 6.68 | 12.20 | 14.64 | 13.26 | 12.17 |
| Free cash flow | 995 | 328 | 1,644 | 1,583 | 922 | 1,354 |
| Gross margin | 57.7% | 55.4% | 58.3% | 59.2% | 56.6% | 56.1% |
| Operating margin | 21.3% | 16.4% | 22.2% | 23.7% | 19.9% | 17.8% |
| Net margin | 15.6% | 10.5% | 16.1% | 17.1% | 14.2% | 12.8% |
| Balance sheet | FY22 | FY23 | FY24 | FY25 | FY26 | LTM |
| Total assets | 4,942 | 5,607 | 7,092 | 7,603 | 8,457 | 8,485 |
| Cash | 1,260 | 1,155 | 2,244 | 1,984 | 1,807 | 1,390 |
| Total debt | 0 | 0 | 0 | 0 | – | 0 |
| Equity | 2,740 | 3,149 | 4,232 | 4,324 | 4,962 | 4,791 |
| Dividend per share ($) | – | – | – | – | – | – |
Revenue and net income US$ billions: navy revenue, teal net income
Margins blue gross, teal operating, brown net
Latest quarters
| May 2025 | Aug 2025 | Nov 2025 | Feb 2026 | May 2026 | Aug 2026 | |
|---|---|---|---|---|---|---|
| Revenue ($M) | 2,371 | 2,525 | 2,566 | 3,641 | 2,472 | 2,416 |
| Growth vs a year earlier | +7.3% | +6.5% | +7.1% | +0.8% | +4.3% | −4.3% |
| Net income ($M) | 315 | 371 | 307 | 587 | 195 | 329 |
| Diluted EPS ($) | 2.60 | 3.10 | 2.59 | – | 1.69 | 2.92 |
Peers in Apparel, Accessories & Luxury Goods
| Company | X-Ray |
|---|---|
| LULU · lululemon athletica inc. | 76 |
| TPR · Tapestry, Inc. | 63 |
| RL · Ralph Lauren Corp | 62 |
| NKE · NIKE, Inc. | 46 |
Market Compass outlook for Consumer Discretionary: Neutral (51/100). It blends regime history, macro sensitivity, momentum and valuation.
Returns
| 1 week | +5.0% |
|---|---|
| 1 month | +0.3% |
| 3 months | −8.2% |
| 6 months | −36.3% |
| 1 year | −41.6% |
| 3 years | −73.7% |
| 5 years | −75.3% |
Technical summary
| 50-day / 200-day average | $104.65 / $136.90 |
|---|---|
| 52-week low / high | $90.38 / $225.98 |
| Classic pivot, support and resistance | S2 92.32 · S1 98.19 · P – · R1 107.04 · R2 110.03 |
Strengths
- Return on invested capital of 41.1% is ahead of 70% of its sector peers.
- Revenue growth of 11.0% a year over three years is ahead of 70% of its sector peers.
- Free-cash-flow yield of 11.5% is ahead of 90% of its sector peers.
- Interest cover of no interest cost is ahead of 76% of its sector peers.
- Holds more cash than debt (net debt to EBITDA of -0.6×).
- Piotroski F-Score of 6 out of 9: most of the nine accounting health tests pass.
Risks and weak spots
No check is weak against its sector.
Latest SEC filings
| Date | Form | Items |
|---|---|---|
| 22 Oct 2026 | 8-K | 5.02,7.01,9.01 |
| 7 Oct 2026 | 8-K | 5.02,7.01,9.01 |
| 14 Sep 2026 | 8-K | 5.02,5.03,9.01 |
| 3 Sep 2026 | 10-Q | |
| 3 Sep 2026 | 8-K | 2.02,9.01 |
| 13 Aug 2026 | 8-K | 8.01 |
| 26 Jun 2026 | 8-K | 5.02,5.07 |
| 4 Jun 2026 | 10-Q |
How to read this report
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.