FirmAtlas
Company handbook · LULU · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
LULU · CIK 1397187 · LATEST FILING: 10-Q AUG '26 · FILED SEP 3, 2026
lululemon athletica inc.
$97.10
−1.99 (−2.01%)
Close, Oct 16, 2026 · 52-week $90–226
Last fiscal year
lululemon athletica inc. reported revenue of $11.1B for the year ended Feb 1, 2026 (FY25), up 4.9% from FY24. Net income was $1.6B, operating cash flow $1.6B and free cash flow $922M. Source: 10-K filed Mar 17, 2026.
Market cap
$10.8B
P/E
7.6
EV/EBITDA
3.3x
P/B
2.3
ROIC
56.8%
Revenue 1Y
4.9%/yr
EPS 1Y
−9.4%/yr
Shares 1Y
−4%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOHeidi O’Neill
HQVancouver, British Columbia, Canada
AuditorPricewaterhouseCoopers LLP
Employees39,000
Year endsJanuary
Revenue by segment · FY25
Americas71%
China Mainlands16%
Other Country14%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
5.5%
−24.8%
−38.5%
−41.0%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$4.3B deployed
Capex
$1.4B
31.6%
Acquisitions
$154M
3.6%
Buybacks
$2.8B
64.9%
Operating cash flow over the period: $3.9B. Total debt changed by $0M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Feb 1, 2026 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Aug '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
10,588
11,103+4.9%
11,094
YoY
+4.9%
Gross profit
6,271
6,284+0.2%
6,224
Gross margin
59.2%
56.6%−2.6 pp
—
Operating income
2,506
2,211−11.8%
1,979
Operating margin
23.7%
19.9%−3.8 pp
—
EBITDA
2,952
2,707−8.3%
—
EBITDA margin
27.9%
24.4%−3.5 pp
—
Interest expense
0.5
1+115.1%
—
Interest coverage
6176.19x
2633.12x−3543.08x
—
Net income
1,815
1,579−13.0%
1,418
YoY
−13.0%
Net margin
17.1%
14.2%−2.9 pp
—
EPS (diluted, $)
14.64
13.26−9.4%
12.47
YoY
−9.4%
Balance sheet
Total assets
7,603
8,457+11.2%
8,485
Cash & short-term investments
1,984
1,807−8.9%
—
Accounts receivable
120
191+58.7%
—
Inventory
1,442
1,701+17.9%
—
Net PP&E
1,781
2,034+14.2%
—
Other assets
2,276
2,724+19.7%
—
Total liabilities
3,279
3,495+6.6%
3,693
Accounts payable
271
331+22.1%
—
Total debt
0
—
—
Other liabilities
3,008
3,163+5.2%
—
Shareholders’ equity
4,324
4,962+14.7%
4,791
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,273
1,602−29.5%
1,982
Net income
1,815
1,579−13.0%
—
Depreciation & amortization
447
496+11.1%
—
Stock-based compensation
90
62−30.9%
—
Working capital & other
(78)
(535)n/m
—
Cash from investing
(798)
(662)n/m
—
Capex
(689)
(681)n/m
—
Acquisitions
(154)
0n/m
—
Other investing
45
19−58.7%
—
Cash from financing
(1,653)
(1,209)n/m
—
Buybacks
(1,637)
(1,178)n/m
—
Other financing
(16)
(30)n/m
—
Net change in cash
(260)
(177)n/m
—
Free cash flow (OCF − capex)
1,583
922−41.8%
1,354
Where the cash went
Operating cash flow
2,273
1,602−29.5%
1,982
Reinvested in the business
843
681−19.3%
—
% of operating cash flow
37.1%
42.5%
Capex
689
681−1.2%
628
Acquisitions
154
0−100.0%
—
Free cash flow
1,583
922−41.8%
1,354
YoY
−41.8%
Returned to shareholders
1,637
1,178−28.0%
—
% of free cash flow
103.4%
127.8%
Buybacks
1,637
1,178−28.0%
—
FCF conversion (FCF ÷ net income)
87.3%
58.4%−28.9 pp
—
Owner earnings
—
1,125
—
Owner earnings margin
—
10.1%
—
Returns & ratios
ROIC (all capital)
75.4%
56.8%−18.7 pp
—
ROIC (operating)
57.5%
46.8%−10.7 pp
—
Net debt / EBITDA
−0.67x
—
—
Debt / equity
0.00x
—
—
Cash conversion cycle (days)
103
110+7 d
—
ROE
42.0%
31.8%−10.1 pp
—
ROA
23.9%
18.7%−5.2 pp
—
ROCE
43.5%
33.7%−9.8 pp
—
NOPAT
1,765
1,559−11.7%
—
Invested capital (operating)
3,071
3,594+17.0%
—
Invested capital (all)
2,340
3,155+34.8%
—
Reinvestment rate
—
33.5%
—
Debtor days
4
6+2 d
—
Inventory days
122
129+7 d
—
Days payable
23
25+2 d
—
Income
Nov '25
Feb '26
May '26
Aug '26
Revenue
2,566
3,641
2,472
2,416
vs year-ago quarter
Gross profit
1,426
1,998
1,339
1,462
Gross margin
55.6%
54.9%
54.2%
60.5%
Operating income
436
812
277
454
Net income
307
587
195
329
vs year-ago quarter
Net margin
12.0%
16.1%
7.9%
13.6%
EPS (diluted, $)
2.59
5.27
1.69
2.92
vs year-ago quarter
Balance sheet
Nov '25
Feb '26
May '26
Aug '26
Total assets
7,955
8,457
8,531
8,485
Cash & equivalents
1,036
1,807
1,515
1,390
Total debt
0
—
0
0
Shareholders’ equity
4,502
4,962
4,826
4,791
Cash flow
Nov '25
Feb '26
May '26
Aug '26
Operating cash flow
250
1,143
214
375
Capex
167
183
127
150
Free cash flow
82
960
87
225
vs year-ago quarter