Overview
lululemon athletica inc.
Latest 10-K: FY2026, filed Mar 17, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $11.10B
- 4.9%YoYup from FY2025
- TotalRevenue
- Gross profit
- $6.28B
- 0.2%YoYup from FY2025
- GrossProfit
- Operating income
- $2.21B
- 11.8%YoYdown from FY2025
- OperatingIncome
- Net income
- $1.58B
- 13.0%YoYdown from FY2025
- NetIncome
- Diluted EPS
- $13.26
- 9.4%YoYdown from FY2025
- EPSDiluted
- Diluted shares
- 119.1M
- 3.9%YoYdown from FY2025
- WeightedAvgSharesDiluted
At a glance
Growth
- lululemon athletica inc. reported revenue of $11.10B for fiscal 2026, up 4.9% from fiscal 2025.
- Revenue grew faster than the median S&P 500 member in 4 of the last 4 fiscal years.
Profitability
- Operating margin was 19.9% and net margin was 14.2%.
Per share
- Diluted EPS was $13.26, down 9.4% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $11.10B4.9%up | $10.59B10.1%up Benchmark median 6.4% | $9.62B18.6%up Benchmark median 4.5% | $8.11B29.6%up Benchmark median 4.8% | $6.26B42.1%up Benchmark median 10.3% | 15.4% |
| Gross Profit Median of 315 / 498 | $6.28B0.2%up | $6.27B11.8%up Benchmark median 6.8% | $5.61B24.9%up Benchmark median 5.5% | $4.49B24.5%up Benchmark median 5.2% | $3.61B46.5%up Benchmark median 8.3% | 14.9% |
| Operating Income Median of 373 / 498 | $2.21B11.8%down | $2.51B17.5%up Benchmark median 7.3% | $2.13B60.5%up Benchmark median 7.4% | $1.33B0.4%down Benchmark median 4.9% | $1.33B62.6%up Benchmark median 7.5% | 13.5% |
| Net Income | $1.58B13.0%down | $1.81B17.1%up Benchmark median 4.8% | $1.55B81.4%up Benchmark median 5.7% | $0.85B12.4%down Benchmark median 1.9% | $0.98B65.6%up Benchmark median 1.3% | 12.8% |
| EPS (Diluted) | $13.269.4%down | $14.6420.0%up Benchmark median 6.2% | $12.2082.6%up Benchmark median 7.9% | $6.6810.8%down Benchmark median 1.9% | $7.4966.4%up Benchmark median 1.5% | 15.3% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $8.46B11.2%up | $7.60B7.2%up Benchmark median 5.6% | $7.09B26.5%up Benchmark median 3.4% | $5.61B13.4%up Benchmark median 4.1% | $4.94B18.1%up Benchmark median 2.2% | 14.4% |
| Total Liabilities Median of 357 / 498 | $3.49B6.6%up | $3.28B14.7%up Benchmark median 6.4% | $2.86B16.3%up Benchmark median 1.9% | $2.46B11.6%up Benchmark median 2.9% | $2.20B35.4%up Benchmark median 2.0% | 12.2% |
| Stockholders' Equity | $4.96B14.7%up | $4.32B2.2%up Benchmark median 6.8% | $4.23B34.4%up Benchmark median 5.4% | $3.15B14.9%up Benchmark median 7.3% | $2.74B7.1%up Benchmark median 2.5% | 16.0% |
| Cash & Equivalents | — | — | — | — | — | — |
| Total Debt | — | — | — | — | — | — |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.60B29.5%down | $2.27B1.0%down Benchmark median 6.3% | $2.30B137.6%up Benchmark median 4.8% | $0.97B30.4%down Benchmark median 9.9% | $1.39B72.9%up Benchmark median -0.7% | 3.6% |
| Capital Expenditures | $680.80M1.2%down | $689.23M5.7%up Benchmark median 5.4% | $651.87M2.1%up Benchmark median 2.8% | $638.66M61.9%up Benchmark median 11.3% | $394.50M72.1%up Benchmark median 14.0% | 14.6% |
| Free Cash Flow Median of 378 / 498 | $0.92B41.8%down | $1.58B3.7%down Benchmark median 7.3% | $1.64B401.6%up Benchmark median 6.1% | $0.33B67.0%down Benchmark median 8.8% | $0.99B73.2%up Benchmark median -11.3% | -1.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2026Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
7.6%
Wall Street
on net earnings
FY2025 3.5%
4.4%
Value investor
on free cash flow
FY2025 3.1%
Gap −3.2 pts: Value-investor figure 3.2 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 13.2×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
23.9%
Wall Street
on book equity
FY2025 8.4%
23.0%
Value investor
on tangible book
FY2025 8.1%
Gap −0.9 pts: Value-investor figure 0.9 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 4.2×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
34.0%
Wall Street
ROE: net income ÷ equity
FY2025 42.4%
23.9%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2025 30.4%
Gap −10.1 pts: Value-investor figure 10.1 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
24.4%
Wall Street
EBITDA margin
FY2025 27.9%
8.3%
Value investor
Free-cash-flow margin
FY2025 15.0%
Gap −16.1 pts: Value-investor figure 16.1 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
2.26×
Wall Street
Current ratio
FY2025 2.16×
1.36×
Value investor
Quick ratio, inventory excluded
FY2025 1.38×
Gap −0.90×: Value-investor figure 0.90 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on LULU yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on LULU and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/LULU
Valuein. (2026, October 31). lululemon athletica inc. (LULU) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/LULU
@misc{valuein_lulu_2026,
author = {{Valuein}},
title = {lululemon athletica inc. (LULU) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/LULU}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Mar 17, 2026 · accession 0001397187-26-000020
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