lululemon athletica inc. (LULU) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2027, filed Sep 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LULU SEC filings page.
lululemon athletica inc. (LULU) reported $11.0B in revenue over the twelve months to Aug 2, 2026, up 2.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Growth is still present, but FY2025 reveals margin compression and weaker cash conversion as inventory and reinvestment absorb more economics.
In FY2025, revenue reached$11.1B while operating margin fell to19.9% . Against FY2024's23.7% margin, the combination points to incremental sales carrying a heavier cost load rather than simple top-line deceleration.
Operating cash flow was
Inventory rose from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of lululemon athletica inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
lululemon athletica inc. has an operating margin of 19.9%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 88/100, reflecting efficient cost management and pricing power. This is down from 23.7% the prior year.
lululemon athletica inc.'s revenue grew a modest 4.9% year-over-year to $11.1B. This slow but positive growth earns a score of 58/100.
lululemon athletica inc. has a moderate D/E ratio of 0.70. This balance of debt and equity financing earns a leverage score of 54/100.
With a current ratio of 2.26, lululemon athletica inc. holds $2.26 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 65/100.
lululemon athletica inc. converts 8.3% of revenue into free cash flow ($921.7M). This strong cash generation earns a score of 71/100.
lululemon athletica inc. earns a strong 31.8% return on equity (ROE), meaning it generates $32 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 96/100. This is down from 42.0% the prior year.
lululemon athletica inc. scores 5.06, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
lululemon athletica inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, lululemon athletica inc. generates $1.01 in operating cash flow ($1.6B OCF vs $1.6B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
lululemon athletica inc. generated $2.4B in revenue in Q2 2027. This represents a decrease of 4.3% from the same quarter a year earlier. Against the prior quarter it is down 2.3%.
lululemon athletica inc.'s EBITDA was $596.0M in Q2 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 7.4% from the same quarter a year earlier. Against the prior quarter it is up 44.6%.
lululemon athletica inc. reported $329.2M in net income in Q2 2027. This represents a decrease of 11.2% from the same quarter a year earlier. Against the prior quarter it is up 68.8%.
lululemon athletica inc. earned $2.92 per diluted share (EPS) in Q2 2027. This represents a decrease of 5.8% from the same quarter a year earlier. Against the prior quarter it is up 72.8%.
Cash & Balance Sheet
lululemon athletica inc. generated $225.2M in free cash flow in Q2 2027, representing cash available after capex. This represents an increase of 49.3% from the same quarter a year earlier. Against the prior quarter it is up 158.6%.
lululemon athletica inc. held $1.4B in cash as of Q2 2027; long-term debt is not reported for that period.
Not reported for Q2 2027.
Margins & Returns
lululemon athletica inc.'s gross margin was 60.5% in Q2 2027, indicating the percentage of revenue retained after direct costs. This is up 2.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.3 percentage points.
lululemon athletica inc.'s operating margin was 18.8% in Q2 2027, reflecting core business profitability. This is down 2.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.6 percentage points.
lululemon athletica inc.'s net profit margin was 13.6% in Q2 2027, showing the share of revenue converted to profit. This is down 1.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.7 percentage points.
lululemon athletica inc.'s ROE was 6.9% in Q2 2027, measuring profit generated per dollar of shareholder equity. This is down 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.8 percentage points.
Capital Allocation
lululemon athletica inc. spent $333.3M on share buybacks in Q2 2027, returning capital to shareholders by reducing shares outstanding. This represents an increase of 18.5% from the same quarter a year earlier. Against the prior quarter it is down 7.9%.
lululemon athletica inc. invested $149.7M in capex in Q2 2027, funding long-term assets and infrastructure. This represents a decrease of 15.9% from the same quarter a year earlier. Against the prior quarter it is up 17.5%.
Not reported for Q2 2027.
LULU Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4B-4.3% | $2.5B+4.3% | $3.5B+2.6% | $2.6B+7.1% | $2.5B+6.5% | $2.4B+7.3% | $3.4B+7.6% | $2.4B+8.7% |
| Cost of Revenue | $953.8M-9.0% | $1.1B+14.7% | $1.5B+8.9% | $1.1B+14.6% | $1.0B+9.3% | $987.5M+5.8% | $1.4B+5.7% | $995.1M+5.0% |
| Gross Profit | $1.5B-1.0% | $1.3B-3.2% | $2.0B-1.5% | $1.4B+1.7% | $1.5B+4.6% | $1.4B+8.5% | $2.1B+9.0% | $1.4B+11.5% |
| SG&A Expenses | $1.0B+5.7% | $1.1B+12.4% | $1.1B+2.8% | $988.3M+8.6% | $951.7M+9.1% | $942.9M+11.9% | $1.0B+4.9% | $909.8M+8.0% |
| Operating Income | $453.7M-13.4% | $276.9M-36.9% | $974.0M-6.0% | $435.9M-11.2% | $523.8M-3.0% | $438.6M+1.4% | $1.0B+13.4% | $490.7M+45.1% |
| EBITDA | $596.0M-7.4% | $412.3M-25.5% | $1.1B-5.5% | $563.3M-6.8% | $643.5M0.0% | $553.2M+4.7% | $1.2B+13.2% | $604.3M+38.6% |
| Income Tax | $138.1M-15.1% | $91.0M-33.0% | $271.2M-11.9% | $134.9M-11.6% | $162.6M-1.6% | $135.8M+1.0% | $307.8M+17.4% | $152.5M+53.7% |
| Net Income | $329.2M-11.2% | $195.0M-38.0% | $706.4M-6.5% | $306.8M-12.8% | $370.9M-5.6% | $314.6M-2.1% | $755.3M+12.8% | $351.9M+41.5% |
| EPS (Basic) | $2.92-5.8% | $1.69-35.2% | $4.97-18.5% | $2.59-9.8% | $3.10-1.6% | $2.61+2.4% | $6.10+15.3% | $2.87+45.7% |
| EPS (Diluted) | $2.92-5.8% | $1.69-35.0% | $4.97-18.4% | $2.59-9.8% | $3.10-1.6% | $2.60+2.4% | $6.09+15.3% | $2.87+46.4% |
| Diluted Shares (Avg) | 113M-5.6% | 115M-4.4% | N/A | 119M-3.5% | 120M-4.1% | 121M-4.3% | N/A | 123M-3.1% |
Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.
LULU Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.5B+12.8% | $8.5B+14.8% | $8.5B+11.2% | $8.0B+12.3% | $7.5B+11.6% | $7.4B+8.8% | $7.6B+7.2% | $7.1B+17.6% |
| Current Assets | $3.9B+11.8% | $4.0B+11.5% | $4.3B+7.1% | $3.9B+8.8% | $3.5B-1.2% | $3.6B-4.9% | $4.0B-2.0% | $3.6B+7.1% |
| Cash & Equivalents | $1.4B+20.2% | $1.5B+14.3% | $1.8B-8.9% | $1.0B-12.8% | $1.2B-28.2% | $1.3B-30.3% | $2.0B-11.6% | $1.2B+8.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $1.7B-0.6% | $1.7B+2.1% | $1.7B+17.9% | $2.0B+10.9% | $1.7B+20.5% | $1.7B+22.8% | $1.4B+9.0% | $1.8B+8.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $185.8M+7.5% | $185.0M+10.5% | $184.9M+15.9% | $175.3M+6.6% | $172.9M+622.7% | $167.4M+597.6% | $159.5M+562.4% | $164.5M+587.8% |
| Total Liabilities | $3.7B+17.8% | $3.7B+18.0% | $3.5B+6.6% | $3.5B+11.5% | $3.1B+15.6% | $3.1B+20.4% | $3.3B+14.7% | $3.1B+24.1% |
| Current Liabilities | $1.8B+15.7% | $1.8B+14.1% | $1.9B+2.6% | $1.8B+2.1% | $1.6B+6.0% | $1.6B+13.6% | $1.8B+12.8% | $1.8B+24.5% |
| Non-Current Liabilities | $1.9B+19.8% | $1.9B+21.9% | $1.6B+11.7% | $1.6B+24.5% | $1.6B+26.9% | $1.6B+28.0% | $1.4B+17.2% | $1.3B+23.5% |
| Total Equity | $4.8B+9.2% | $4.8B+12.5% | $5.0B+14.7% | $4.5B+13.0% | $4.4B+8.8% | $4.3B+1.7% | $4.3B+2.2% | $4.0B+13.0% |
| Retained Earnings | $4.4B+6.8% | $4.4B+9.2% | $4.5B+10.0% | $4.2B+13.8% | $4.1B+8.9% | $4.0B+1.2% | $4.1B+4.8% | $3.7B+11.8% |
Not reported in any period shown, so not listed: Accounts Receivable, Long-Term Debt.
LULU Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $374.8M+14.0% | $214.4M+280.3% | $1.1B-18.4% | $249.9M-16.9% | $328.7M-25.8% | -$119.0M-193.3% | $1.4B+1.2% | $300.7M-22.9% |
| Depreciation & Amortization | $142.3M+18.9% | $135.3M+18.2% | $134.5M+0.7% | $127.5M+12.2% | $119.7M+15.6% | $114.5M+19.6% | $133.6M+29.3% | $113.6M+16.0% |
| Stock-Based Compensation | N/A | $29.2M+26.4% | N/A | N/A | N/A | $23.1M-10.4% | N/A | N/A |
| Capital Expenditures | $149.7M-15.9% | $127.4M-16.3% | $183.2M-22.0% | $167.4M-6.2% | $177.9M+22.6% | $152.3M+16.5% | $235.0M+13.8% | $178.5M+9.6% |
| Free Cash Flow | $225.2M+49.3% | $87.1M+132.1% | $959.7M-17.7% | $82.4M-32.5% | $150.8M-49.4% | -$271.2M-8491.0% | $1.2B-0.9% | $122.2M-46.2% |
| Investing Cash Flow | -$143.0M+32.9% | -$138.8M-30.0% | -$173.1M+22.4% | -$169.1M+45.2% | -$213.1M-57.8% | -$106.8M+18.8% | -$223.0M-6.8% | -$308.6M-90.9% |
| Financing Cash Flow | -$333.7M-20.5% | -$378.5M+19.1% | -$269.7M+16.8% | -$194.2M+52.9% | -$276.8M+52.9% | -$468.0M-42.4% | -$324.0M-747.2% | -$412.0M-101.0% |
| Share Buybacks | $333.3M+18.5% | $361.8M-16.7% | $271.8M-19.0% | $190.9M-53.7% | $281.2M-52.3% | $434.4M+45.1% | $335.4M+520.9% | $412.6M+94.0% |
Not reported in any period shown, so not listed: Dividends Paid.
LULU Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2710-Q | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.5%+2.0pp | 54.2%-4.2pp | 57.7%-2.4pp | 55.6%-2.9pp | 58.5%-1.1pp | 58.3%+0.6pp | 60.1%+0.7pp | 58.5%+1.5pp |
| Operating Margin | 18.8%-2.0pp | 11.2%-7.3pp | 27.5%-2.5pp | 17.0%-3.5pp | 20.7%-2.0pp | 18.5%-1.1pp | 30.0%+1.5pp | 20.5%+5.1pp |
| Net Margin | 13.6%-1.1pp | 7.9%-5.4pp | 20.0%-1.9pp | 12.0%-2.7pp | 14.7%-1.9pp | 13.3%-1.3pp | 21.9%+1.0pp | 14.7%+3.4pp |
| Return on Equity | 6.9%-1.6pp | 4.0%-3.3pp | 14.2%-3.2pp | 6.8%-2.0pp | 8.5%-1.3pp | 7.3%-0.3pp | 17.5%+1.6pp | 8.8%+1.8pp |
| Return on Assets | 3.9%-1.0pp | 2.3%-1.9pp | 8.3%-1.6pp | 3.9%-1.1pp | 4.9%-0.9pp | 4.2%-0.5pp | 9.9%+0.5pp | 5.0%+0.8pp |
| Current Ratio | 2.19-0.1x | 2.23-0.1x | 2.26+0.1x | 2.13+0.1x | 2.27-0.2x | 2.28-0.4x | 2.16-0.3x | 2.00-0.3x |
| Debt-to-Equity | 0.77+0.1x | 0.770.0x | 0.70-0.1x | 0.770.0x | 0.710.0x | 0.73+0.1x | 0.76+0.1x | 0.78+0.1x |
| Asset Turnover | 0.28-0.1x | 0.290.0x | 0.420.0x | 0.320.0x | 0.340.0x | 0.320.0x | 0.450.0x | 0.340.0x |
| FCF Margin | 9.3%+3.4pp | 3.5%+15.0pp | 27.1%-6.7pp | 3.2%-1.9pp | 6.0%-6.6pp | -11.4%-11.3pp | 33.8%-2.9pp | 5.1%-5.2pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| lululemon athletica inc. LULU | FY2025 | $11.1B | $1.6B | 14.2% | $10.5B | 72/100 |
| BURLINGTON STORES, INC. BURL | FY2025 | $11.6B | $610.2M | 5.3% | $17.3B | 28/100 |
| Ross Stores Inc ROST | FY2025 | $22.8B | $2.1B | 9.4% | $73.0B | 72/100 |
| The TJX Companies, Inc. TJX | FY2026 | $60.4B | $5.5B | 9.1% | $145.9B | 35/100 |
| The Gap, Inc. GAP | FY2025 | $15.4B | $816.0M | 5.3% | $7.9B | 59/100 |
| Urban Outfitters Inc URBN | FY2026 | $6.2B | $464.9M | 7.5% | $6.9B | 59/100 |
Where lululemon athletica inc. Ranks
Frequently Asked Questions
What is lululemon athletica inc.'s annual revenue?
lululemon athletica inc. (LULU) reported $11.1B in total revenue for fiscal year 2025. This represents a 4.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is lululemon athletica inc.'s revenue growing?
lululemon athletica inc. (LULU) revenue grew by 4.9% year-over-year, from $10.6B to $11.1B in fiscal year 2025.
Is lululemon athletica inc. profitable?
Yes, lululemon athletica inc. (LULU) reported a net income of $1.6B in fiscal year 2025, with a net profit margin of 14.2%.
What is lululemon athletica inc.'s EBITDA?
lululemon athletica inc. (LULU) had EBITDA of $2.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is lululemon athletica inc.'s gross margin?
lululemon athletica inc. (LULU) had a gross margin of 56.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is lululemon athletica inc.'s operating margin?
lululemon athletica inc. (LULU) had an operating margin of 19.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is lululemon athletica inc.'s net profit margin?
lululemon athletica inc. (LULU) had a net profit margin of 14.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is lululemon athletica inc.'s return on equity (ROE)?
lululemon athletica inc. (LULU) has a return on equity of 31.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is lululemon athletica inc.'s free cash flow?
lululemon athletica inc. (LULU) generated $921.7M in free cash flow during fiscal year 2025. This represents a -41.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is lululemon athletica inc.'s operating cash flow?
lululemon athletica inc. (LULU) generated $1.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are lululemon athletica inc.'s total assets?
lululemon athletica inc. (LULU) had $8.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are lululemon athletica inc.'s capital expenditures?
lululemon athletica inc. (LULU) invested $680.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is lululemon athletica inc.'s current ratio?
lululemon athletica inc. (LULU) had a current ratio of 2.26 as of fiscal year 2025, which is generally considered healthy.
What is lululemon athletica inc.'s debt-to-equity ratio?
lululemon athletica inc. (LULU) had a debt-to-equity ratio of 0.70 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is lululemon athletica inc.'s return on assets (ROA)?
lululemon athletica inc. (LULU) had a return on assets of 18.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is lululemon athletica inc.'s P/E ratio?
lululemon athletica inc. (LULU) trades at 6.8x earnings, its market capitalization divided by net income of $1.5B net income, trailing 12 months to August 2, 2026. The market capitalization is $10.5B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is lululemon athletica inc.'s price-to-sales ratio?
lululemon athletica inc. (LULU) trades at 1.0x sales, its market capitalization divided by revenue of $11.0B revenue, trailing 12 months to August 2, 2026. The market capitalization is $10.5B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is lululemon athletica inc.'s Altman Z-Score?
lululemon athletica inc. (LULU) has an Altman Z-Score of 5.06, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is lululemon athletica inc.'s Piotroski F-Score?
lululemon athletica inc. (LULU) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are lululemon athletica inc.'s earnings high quality?
lululemon athletica inc. (LULU) has an earnings quality ratio of 1.01x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is lululemon athletica inc.?
lululemon athletica inc. (LULU) scores 72 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.