L

lululemon athletica inc.

LULU · CIK 0001397187

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$11.10B4.9%
FY2025
Net income (FY)
$1.58B13.0%
FY2025
Free cash flow (FY)
$921.7M41.8%
FY2025
Diluted EPS (FY)
$13.269.4%
FY2025
The story, charted

The shape of the business

FY2008–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10BFY2008 · Revenue $353.5M · Net income $39.4M · 0000950123-11-026220 · filed 2011-03-17FY08Revenue $353.5MNet income $39.4M0000950123-11-026220 · filed 2011-03-17FY2009 · Revenue $452.9M · Net income $58.3M · 0001193125-12-126444 · filed 2012-03-22FY09Revenue $452.9MNet income $58.3M0001193125-12-126444 · filed 2012-03-22FY2010 · Revenue $711.7M · Net income $121.8M · 0001193125-13-118393 · filed 2013-03-21FY10Revenue $711.7MNet income $121.8M0001193125-13-118393 · filed 2013-03-21FY2011 · Revenue $1.00B · Net income $184.1M · 0001397187-14-000021 · filed 2014-03-27FY11Revenue $1.00BNet income $184.1M0001397187-14-000021 · filed 2014-03-27FY2012 · Revenue $1.37B · Net income $270.6M · 0001397187-15-000016 · filed 2015-03-26FY12Revenue $1.37BNet income $270.6M0001397187-15-000016 · filed 2015-03-26FY2013 · Revenue $1.59B · Net income $279.5M · 0001397187-16-000089 · filed 2016-03-30FY13Revenue $1.59BNet income $279.5M0001397187-16-000089 · filed 2016-03-30FY2014 · Revenue $1.80B · Net income $239.0M · 0001397187-17-000008 · filed 2017-03-29FY14Revenue $1.80BNet income $239.0M0001397187-17-000008 · filed 2017-03-29FY2015 · Revenue $2.06B · Net income $266.0M · 0001397187-18-000013 · filed 2018-03-27FY15Revenue $2.06BNet income $266.0M0001397187-18-000013 · filed 2018-03-27FY2016 · Revenue $2.34B · Net income $303.4M · 0001397187-18-000013 · filed 2018-03-27 · 0001397187-19-000011 · filed 2019-03-27FY16Revenue $2.34BNet income $303.4M0001397187-18-000013 · filed 2018-03-27 · 0001397187-19-000011 · filed 2019-03-27FY2017 · Revenue $2.65B · Net income $258.7M · 0001397187-20-000012 · filed 2020-03-26FY17Revenue $2.65BNet income $258.7M0001397187-20-000012 · filed 2020-03-26FY2018 · Revenue $3.29B · Net income $483.8M · 0001397187-21-000009 · filed 2021-03-30FY18Revenue $3.29BNet income $483.8M0001397187-21-000009 · filed 2021-03-30FY2019 · Revenue $3.98B · Net income $645.6M · 0001397187-22-000014 · filed 2022-03-29FY19Revenue $3.98BNet income $645.6M0001397187-22-000014 · filed 2022-03-29FY2020 · Revenue $4.40B · Net income $588.9M · 0001397187-23-000012 · filed 2023-03-28FY20Revenue $4.40BNet income $588.9M0001397187-23-000012 · filed 2023-03-28FY2021 · Revenue $6.26B · Net income $975.3M · 0001397187-24-000010 · filed 2024-03-21FY21Revenue $6.26BNet income $975.3M0001397187-24-000010 · filed 2024-03-21FY2022 · Revenue $8.11B · Net income $854.8M · 0001397187-25-000013 · filed 2025-03-27FY22Revenue $8.11BNet income $854.8M0001397187-25-000013 · filed 2025-03-27FY2023 · Revenue $9.62B · Net income $1.55B · 0001397187-26-000020 · filed 2026-03-17FY23Revenue $9.62BNet income $1.55B0001397187-26-000020 · filed 2026-03-17FY2024 · Revenue $10.59B · Net income $1.81B · 0001397187-26-000020 · filed 2026-03-17FY24Revenue $10.59BNet income $1.81B0001397187-26-000020 · filed 2026-03-17FY2025 · Revenue $11.10B · Net income $1.58B · 0001397187-26-000020 · filed 2026-03-17FY25Revenue $11.10BNet income $1.58B0001397187-26-000020 · filed 2026-03-17FY25Revenue $11.10BNet income $1.58B0001397187-26-000020 · filed 2026-03-17FY09FY11FY13FY15FY17FY19FY21FY23FY25

revenue 31.4× since FY2008 · net margin 11.1% → 14.2%

MarginsNet marginFCF margin
0%10%20%FY2008 · Net margin 11.1% · FCF margin 1.7%FY08Net margin 11.1%FCF margin 1.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 12.9% · FCF margin 22.6%FY09Net margin 12.9%FCF margin 22.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 17.1% · FCF margin 21.0%FY10Net margin 17.1%FCF margin 21.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 18.4% · FCF margin 8.7%FY11Net margin 18.4%FCF margin 8.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 19.7% · FCF margin 13.6%FY12Net margin 19.7%FCF margin 13.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 17.6% · FCF margin 10.8%FY13Net margin 17.6%FCF margin 10.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 13.3% · FCF margin 10.8%FY14Net margin 13.3%FCF margin 10.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 12.9% · FCF margin 7.5%FY15Net margin 12.9%FCF margin 7.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 12.9% · FCF margin 10.1%FY16Net margin 12.9%FCF margin 10.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 9.8% · FCF margin 12.5%FY17Net margin 9.8%FCF margin 12.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 14.7% · FCF margin 15.7%FY18Net margin 14.7%FCF margin 15.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 16.2% · FCF margin 9.7%FY19Net margin 16.2%FCF margin 9.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 13.4% · FCF margin 13.0%FY20Net margin 13.4%FCF margin 13.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 15.6% · FCF margin 15.9%FY21Net margin 15.6%FCF margin 15.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 10.5% · FCF margin 4.0%FY22Net margin 10.5%FCF margin 4.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 16.1% · FCF margin 17.1%FY23Net margin 16.1%FCF margin 17.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 17.1% · FCF margin 15.0%FY24Net margin 17.1%FCF margin 15.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 14.2% · FCF margin 8.3%FY25Net margin 14.2%FCF margin 8.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 14.2%FCF margin 8.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 14.2% · free cash flow 8.3% of revenue

Cash engineOperating cash flowFree cash flow
$0$1B$2BFY2008 · OCF $46.4M · FCF $5.9M · 0000950123-11-026220 · filed 2011-03-17FY08OCF $46.4MFCF $5.9M0000950123-11-026220 · filed 2011-03-17FY2009 · OCF $118.0M · FCF $102.5M · 0001193125-12-126444 · filed 2012-03-22FY09OCF $118.0MFCF $102.5M0001193125-12-126444 · filed 2012-03-22FY2010 · OCF $180.0M · FCF $149.6M · 0001193125-13-118393 · filed 2013-03-21FY10OCF $180.0MFCF $149.6M0001193125-13-118393 · filed 2013-03-21FY2011 · OCF $203.6M · FCF $87.0M · 0001397187-14-000021 · filed 2014-03-27FY11OCF $203.6MFCF $87.0M0001397187-14-000021 · filed 2014-03-27FY2012 · OCF $280.1M · FCF $186.9M · 0001397187-15-000016 · filed 2015-03-26FY12OCF $280.1MFCF $186.9M0001397187-15-000016 · filed 2015-03-26FY2013 · OCF $278.3M · FCF $171.9M · 0001397187-16-000089 · filed 2016-03-30FY13OCF $278.3MFCF $171.9M0001397187-16-000089 · filed 2016-03-30FY2014 · OCF $314.4M · FCF $194.7M · 0001397187-17-000008 · filed 2017-03-29FY14OCF $314.4MFCF $194.7M0001397187-17-000008 · filed 2017-03-29FY2015 · OCF $297.5M · FCF $154.1M · 0001397187-18-000013 · filed 2018-03-27FY15OCF $297.5MFCF $154.1M0001397187-18-000013 · filed 2018-03-27FY2016 · OCF $386.4M · FCF $236.9M · 0001397187-19-000011 · filed 2019-03-27FY16OCF $386.4MFCF $236.9M0001397187-19-000011 · filed 2019-03-27FY2017 · OCF $489.3M · FCF $331.5M · 0001397187-20-000012 · filed 2020-03-26FY17OCF $489.3MFCF $331.5M0001397187-20-000012 · filed 2020-03-26FY2018 · OCF $742.8M · FCF $517.0M · 0001397187-21-000009 · filed 2021-03-30FY18OCF $742.8MFCF $517.0M0001397187-21-000009 · filed 2021-03-30FY2019 · OCF $669.3M · FCF $386.3M · 0001397187-22-000014 · filed 2022-03-29FY19OCF $669.3MFCF $386.3M0001397187-22-000014 · filed 2022-03-29FY2020 · OCF $803.3M · FCF $574.1M · 0001397187-23-000012 · filed 2023-03-28FY20OCF $803.3MFCF $574.1M0001397187-23-000012 · filed 2023-03-28FY2021 · OCF $1.39B · FCF $994.6M · 0001397187-24-000010 · filed 2024-03-21FY21OCF $1.39BFCF $994.6M0001397187-24-000010 · filed 2024-03-21FY2022 · OCF $966.5M · FCF $327.8M · 0001397187-25-000013 · filed 2025-03-27FY22OCF $966.5MFCF $327.8M0001397187-25-000013 · filed 2025-03-27FY2023 · OCF $2.30B · FCF $1.64B · 0001397187-26-000020 · filed 2026-03-17FY23OCF $2.30BFCF $1.64B0001397187-26-000020 · filed 2026-03-17FY2024 · OCF $2.27B · FCF $1.58B · 0001397187-26-000020 · filed 2026-03-17FY24OCF $2.27BFCF $1.58B0001397187-26-000020 · filed 2026-03-17FY2025 · OCF $1.60B · FCF $921.7M · 0001397187-26-000020 · filed 2026-03-17FY25OCF $1.60BFCF $921.7M0001397187-26-000020 · filed 2026-03-17FY25OCF $1.60BFCF $921.7M0001397187-26-000020 · filed 2026-03-17’09’13’17’21’25

FY2025: $1.60B operating cash − $680.8M capex = $921.7M free cash flow

Returns on capitalReturn on equityReturn on assets
0%20%40%FY2009 · ROE 25.0% · ROA 19.0%FY09ROE 25.0%ROA 19.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 31.2% · ROA 24.4%FY10ROE 31.2%ROA 24.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 30.6% · ROA 25.1%FY11ROE 30.6%ROA 25.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 30.5% · ROA 25.7%FY12ROE 30.5%ROA 25.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 25.5% · ROA 22.3%FY13ROE 25.5%ROA 22.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 21.9% · ROA 18.4%FY14ROE 21.9%ROA 18.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 25.9% · ROA 20.2%FY15ROE 25.9%ROA 20.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 22.3% · ROA 18.3%FY16ROE 22.3%ROA 18.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 16.2% · ROA 12.9%FY17ROE 16.2%ROA 12.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 33.5% · ROA 23.2%FY18ROE 33.5%ROA 23.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 33.1% · ROA 19.7%FY19ROE 33.1%ROA 19.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 23.0% · ROA 14.1%FY20ROE 23.0%ROA 14.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 35.6% · ROA 19.7%FY21ROE 35.6%ROA 19.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 27.1% · ROA 15.2%FY22ROE 27.1%ROA 15.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 36.6% · ROA 21.9%FY23ROE 36.6%ROA 21.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 42.0% · ROA 23.9%FY24ROE 42.0%ROA 23.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 31.8% · ROA 18.7%FY25ROE 31.8%ROA 18.7%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 31.8%ROA 18.7%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 25% (FY2009) → 32% (FY2025) · on assets 18.7%

Balance sheetLiabilitiesEquity
$0$5BFY2009 · Liabilities $74.2M · Equity $233.1MFY09Liabilities $74.2MEquity $233.1M0000950123-11-026220 · filed 2011-03-17FY2010 · Liabilities $105.0M · Equity $390.4MFY10Liabilities $105.0MEquity $390.4M0001193125-12-126444 · filed 2012-03-22FY2011 · Liabilities $128.5M · Equity $601.4MFY11Liabilities $128.5MEquity $601.4M0001193125-13-118393 · filed 2013-03-21FY2012 · Liabilities $163.8M · Equity $887.3MFY12Liabilities $163.8MEquity $887.3M0001397187-14-000021 · filed 2014-03-27FY2013 · Liabilities $155.7M · Equity $1.10BFY13Liabilities $155.7MEquity $1.10B0001397187-15-000016 · filed 2015-03-26FY2014 · Liabilities $206.6M · Equity $1.09BFY14Liabilities $206.6MEquity $1.09B0001397187-16-000089 · filed 2016-03-30FY2015 · Liabilities $286.6M · Equity $1.03BFY15Liabilities $286.6MEquity $1.03B0001397187-17-000008 · filed 2017-03-29FY2016 · Liabilities $297.6M · Equity $1.36BFY16Liabilities $297.6MEquity $1.36B0001397187-18-000013 · filed 2018-03-27FY2017 · Liabilities $401.5M · Equity $1.60BFY17Liabilities $401.5MEquity $1.60B0001397187-19-000011 · filed 2019-03-27FY2018 · Liabilities $638.7M · Equity $1.45BFY18Liabilities $638.7MEquity $1.45B0001397187-20-000012 · filed 2020-03-26FY2019 · Liabilities $1.33B · Equity $1.95BFY19Liabilities $1.33BEquity $1.95B0001397187-21-000009 · filed 2021-03-30FY2020 · Liabilities $1.63B · Equity $2.56BFY20Liabilities $1.63BEquity $2.56B0001397187-22-000014 · filed 2022-03-29FY2021 · Liabilities $2.20B · Equity $2.74BFY21Liabilities $2.20BEquity $2.74B0001397187-23-000012 · filed 2023-03-28FY2022 · Liabilities $2.46B · Equity $3.15BFY22Liabilities $2.46BEquity $3.15B0001397187-24-000010 · filed 2024-03-21FY2023 · Liabilities $2.86B · Equity $4.23BFY23Liabilities $2.86BEquity $4.23B0001397187-25-000013 · filed 2025-03-27FY2024 · Liabilities $3.28B · Equity $4.32BFY24Liabilities $3.28BEquity $4.32B0001397187-26-000020 · filed 2026-03-17FY2025 · Liabilities $3.49B · Equity $4.96BFY25Liabilities $3.49BEquity $4.96B0001397187-26-000020 · filed 2026-03-17FY25Liabilities $3.49BEquity $4.96B0001397187-26-000020 · filed 2026-03-17’09’13’17’21’25

FY2025: $8.46B assets · $3.49B liabilities · $4.96B equity

The receipts