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Earnings transcript
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LULU
Lululemon Athletica Inc.
$114.29
-3.28
(-2.79%)
| Exchange: | NASDAQ |
| Market Cap: | 12.978B |
| Shares Outstanding: | 67.691M |
Delayed data
About The Company
| Sector: | Consumer Cyclical | |||||
| Industry: | Apparel – Retail | |||||
| CEO: | Meghan C. Frank | |||||
| Full Time Employees: | 39000 | |||||
| Address: |
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| Website: | https://shop.lululemon.com |
Lululemon Athletica Inc., alongside its subsidiaries, specializes in the design, global distribution, and retail of athletic apparel and accessories for both women and men. Its business operations are structured into two main divisions: company-owned retail establishments and direct-to-consumer sales. The firm’s offerings encompass a range of clothing such as pants, shorts, tops, and jackets, all crafted for promoting a healthy lifestyle and facilitating athletic endeavors. These activities span yoga, running, training, and other physically demanding pursuits. Beyond apparel, Lululemon also supplies fitness-related accessories and a selection of footwear. Customers can acquire Lululemon products through numerous channels. These include a global network of corporate-managed stores, outlet locations, and seasonal warehouse sales. The company also sells through an interactive digital workout platform and via wholesale partnerships with entities like yoga studios, health clubs, and fitness centers. Further sales occur through temporary pop-up shops, as well as various licensing and supply agreements. A significant portion of sales is conducted directly with consumers through dedicated mobile applications and its primary e-commerce website, lululemon.com. By January 30, 2022, Lululemon boasted 574 stores operating under its brand name across numerous international markets. These markets span the United States, Canada, the People’s Republic of China, Australia, the United Kingdom, Japan, New Zealand, Germany, South Korea, Singapore, France, Malaysia, Sweden, Ireland, the Netherlands, Norway, and Switzerland. Founded in 1998, Lululemon Athletica Inc. maintains its corporate base in Vancouver, Canada.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 9,619,278 | 10,588,126 | 11,102,600 |
| Gross Profit | 5,609,405 | 6,270,811 | 6,284,132 |
| EBITDA | 2,586,561 | 3,022,601 | 2,735,195 |
| Operating Income | 2,132,676 | 2,505,697 | 2,210,615 |
| Net Income | 1,550,190 | 1,814,616 | 1,579,183 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 7,091,941 | 7,603,292 | 8,456,743 |
| Total Liabilities | 2,859,860 | 3,279,245 | 3,439,543 |
| Total Stockholders Equity | 4,232,081 | 4,324,047 | 5,351,656 |
| Total Debt | 1,403,282 | 1,575,791 | 1,798,441 |
| Cash and Cash Equivalents | 2,243,971 | 1,984,336 | 1,807,202 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 2,296,164 | 2,272,713 | 1,602,477 |
| Capital Expenditure | -651,865 | -689,232 | -680,802 |
| Free Cash Flow | 1,644,299 | 1,583,481 | 921,675 |
| Net Income | 1,550,190 | 1,814,616 | 1,579,183 |
| Net Change in Cash | 1,089,104 | -259,635 | -177,134 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 12,972,009.610 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 13,873,863.054 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 13,458,000 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 4,229,899.124 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 4,523,974.538 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 4,388,370.355 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 2,037,516.203 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 2,223,759.526 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 2,137,878.767 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 4,591,174.396 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 4,910,366.762 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 4,763,180.639 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 17.250 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 17.940 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 16.440 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 1 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strong Revenue Growth: Lululemon reported a 7% increase in total net revenue for Q2 2025, as per the earnings call transcript, reflecting robust demand for its products. This growth aligns with consistent performance metrics over the past year, indicating sustained consumer interest.
- Operational Efficiency: The company demonstrates solid profitability with a high gross profit margin (TTM) and net profit margin (TTM) from key metrics, supported by effective cost management and premium pricing power in the athletic apparel industry.
- Healthy Balance Sheet: Balance sheet data shows significant cash and cash equivalents alongside a low debt-to-equity ratio (TTM), providing financial flexibility for future investments and resilience against economic downturns.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates LULU intrinsic value between $188.00 – $401.32 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about LULU valuation
Is Lululemon Athletica Inc. (LULU) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Lululemon Athletica Inc. (LULU) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is LULU a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether LULU trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is LULU’s P/E ratio?
You can see LULU’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for LULU?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is LULU a good long-term investment?
Whether LULU fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
LULU
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Daily snapshot
-2.79
Trading Metrics:
| Open: | 117.21 | Previous Close: | 117.57 | |
| Day Low: | 112.8 | Day High: | 117.8 | |
| Year Low: | 104.44 | Year High: | 252.24 | |
| Price Avg 50: | 129.09 | Price Avg 200: | 165.64 | |
| Volume: | 3.212M | Average Volume: | 3.516M |
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Login — it's freeLULU full analysis
Welcome to MARKETSNAP’s SWOT analysis for lululemon athletica inc., better known to most of us as simply Lululemon. If you’re a long-term investor looking to build wealth through smart stock picks, you’re in the right place. Today, we’re diving deep into Lululemon, a powerhouse in the athletic apparel space, to break down its strengths, weaknesses, opportunities, and threats. I’ll keep this conversational and packed with insights, so let’s get started with a quick overview of where Lululemon stands right now.…
