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NASDAQ NMS - GLOBAL MARKET · Textiles, Apparel & Luxury Goods · CIK 0001397187
$104.06
+7.80% · delayed ~15 min
Last price from Oct 22, 2026
$11.59B market value
From lululemon athletica inc.'s FY2026 10-K, filed Mar 17, 2026 · read the filing
lululemon athletica makes clothing. It took in $11.10B last year, which makes it a large company. Of every dollar it sells, about 14 cents is left as profit.
The financial picture is led by profitability and debt, with growth worth watching.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Strong finances across the board.
From lululemon athletica inc.'s FY2026 annual filing · share price scored separately
Largest year-over-year changes in FY2026
Free cash flow
$1.58B → $921.7M
Operating margin
23.7% → 19.9%
Operating income
$2.51B → $2.21B
Profit
$1.81B → $1.58B
Measured against FY2025, from the 10-K filed Mar 17, 2026
Deteriorated: -41.8%
$1.58B to $921.7MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
How the latest move compares (quote delayed ~15 min), and what was published around it
LULU rose 7.80% on the latest quote. The average Consumer Discretionary company tracked here moved +2.21%, and the S&P 500 −1.04%. That is 5.6 points above its sector and 8.8 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to shrink by about 3% a year for the next 10 years. Over the last 10 years it grew by about 20% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 14 cents of every dollar of sales as profit, earning $1.58B last year.
Slowly. Sales grew 4.9% last year.
It does not appear so. For every $1 it owes, it owns $2.42 in assets.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2026 annual filing
Last year it earned $1.58B and generated $1.60B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202610-K · Mar 17, 2026Filing for FY2026 | FY202510-K · Mar 27, 2025Filing for FY2025 | FY202410-K · Mar 21, 2024Filing for FY2024 | FY202310-K · Mar 28, 2023Filing for FY2023 | FY202210-K · Mar 29, 2022Filing for FY2022 | ChangeFY2026 vs FY2025 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $11.10B | $10.59B | $9.62B | $8.11B | $6.26B | +4.9% |
| Cost of revenue | $4.82B | $4.32B | $4.01B | $3.62B | $2.65B | +11.6% |
| Gross profit | $6.28B | $6.27B | $5.61B | $4.49B | $3.61B | +0.2% |
| Gross marginGross profit ÷ revenueWhat is this? | 56.6% | 59.2% | 58.3% | 55.4% | 57.7% | −2.6 pts |
| Selling, general and administrative | $4.07B | $3.76B | $3.40B | $2.76B | $2.23B | +8.1% |
| Operating income | $2.21B | $2.51B | $2.13B | $1.33B | $1.33B | −11.8% |
| Operating marginOperating income ÷ revenueWhat is this? | 19.9% | 23.7% | 22.2% | 16.4% | 21.3% | −3.8 pts |
| Income before tax | $2.24B | $2.58B | $2.18B | $1.33B | $1.33B | −13.1% |
| Net income | $1.58B | $1.81B | $1.55B | $854.8M | $975.3M | −13.0% |
| Net marginNet income ÷ revenueWhat is this? | 14.2% | 17.1% | 16.1% | 10.5% | 15.6% | −2.9 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $14.18 | $15.62 | $12.80 | $6.99 | $7.91 | −9.2% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Was granted or awarded shares — 42,328 shares
Holds 74,292 shares after this filing.
Was granted or awarded shares — 1,606 shares
Holds 1,853 shares after this filing.
Was granted or awarded shares
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Had a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingWrite down why you are following lululemon athletica inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from LULU's 10-K for fiscal year 2026 (period ending 2026-02-01, filed Mar 17, 2026), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2026 | 8.7 | 5/8 | 10-K, filed Mar 17, 2026 |
| FY2025 | 8.7 | 7/8 | 10-K, filed Mar 27, 2025 |
| FY2024 | 10.0 | 7/8 | 10-K, filed Mar 21, 2024 |
| FY2023 | 10.0 | 6/8 | 10-K, filed Mar 28, 2023 |
| FY2022 | 10.0 | 7/8 | 10-K, filed Mar 29, 2022 |
| FY2021 | 8.7 | 5/8 | 10-K, filed Mar 30, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
5 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
5.25
In the safe zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2026 filing as filed with the SEC.
Deteriorated: −3.8 pts
23.7% to 19.9%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: -11.8%
$2.51B to $2.21BNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: -13.0%
$1.81B to $1.58BNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −2.6 pts
59.2% to 56.6%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: −2.9 pts
17.1% to 14.2%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -9.2%
$15.62 to $14.18Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -8.9%
$1.98B to $1.81BNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: -4.1%
116.2M to 111.4MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Sep 3, 2026 — read it.
Improved: +20.2%
$1.16B to $1.39BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: -6.4%
113.8M to 106.6MSignificant
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Deteriorated: -13.4%
$523.8M to $453.7MNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: -11.2%
$370.9M to $329.2MNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +2.0 pts
58.5% to 60.5%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: −2.0 pts
20.7% to 18.8%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −1.1 pts
14.7% to 13.6%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -5.2%
$3.26 to $3.09Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Sep 3, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: +63.8%
$276.9M to $453.7MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +68.8%
$195.0M to $329.2MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +73.1%
$1.78 to $3.09Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +6.3 pts
54.2% to 60.5%Significant
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +7.6 pts
11.2% to 18.8%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +5.7 pts
7.9% to 13.6%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +9.2%
$1.34B to $1.46BNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: -8.3%
$1.51B to $1.39BNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: -2.5%
109.3M to 106.6MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
3 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between -5% and -1%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 41 analysts covering this company, as of . Their views, not this site's.
Of 41 analysts publishing on this company, 1 say strong buy, 1 say buy, 31 say hold, 6 say sell and 2 say strong sell. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 13.8% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 9.6x — investors pay $9.6 for each $1 of trailing profit.
This company has not reported enough of the required figures to calculate this score.
Holds 10,928 shares after this filing.
Was granted or awarded shares — 1,606 shares
Holds 4,125 shares after this filing.
Was granted or awarded shares — 1,606 shares
Holds 2,606 shares after this filing.
Was granted or awarded shares — 1,606 shares
Holds 1,606 shares after this filing.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Had a director or senior officer leave or join · Amended its charter or changed its financial year
Quarterly report for Q2 FY2026
Operating margin −2.0 pts · Cash +20.2% · Shares in issue -6.4% — against Q2 FY2025
Read the filingPublished results
Read the filingReported another event
Read the filingHad a director or senior officer leave or join · Held a shareholder vote
Read the filingQuarterly report for Q1 FY2026
Operating margin −7.3 pts · Free cash flow turned positive · Operating income -36.9% — against Q1 FY2025
Read the filingPublished results
Read the filingSigned a material agreement · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingAnnual report for FY2026
Operating margin −3.8 pts · Free cash flow -41.8% · Operating income -11.8% — against FY2025
Read the filingPublished results
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingMade a Regulation FD disclosure
Read the filingReported another event
Read the filingQuarterly report for Q3 FY2025
Revenue +7.1% · Operating margin −3.5 pts · Operating income -11.2% — against Q3 FY2024
Read the filingHad a director or senior officer leave or join · Published results · Reported another event
Read the filingHad a director or senior officer leave or join
Read the filingPrimary sources and further research