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Premium athletic apparel ('athleisure') brand known for yoga and performance wear, sold via its own stores and digital channels.
Premium athletic apparel ('athleisure') brand known for yoga and performance wear, sold via its own stores and digital channels.
Sells nearly all its products through its own stores and websites, which keeps pricing control, and relies on contract factories in Asia to make them. North America provides most of its sales, with China and Europe the expansion areas. Founder Chip Wilson remains a large shareholder.
Moat: narrow (brand, distribution). Strong brand loyalty in premium athleisure, though growth has slowed amid rising competition.
Headquarters: Vancouver, Canada · Founded: 1998 · Employees: 39,000
Size Lululemon Athletica (LULU) is a United States Consumer Discretionary company (Apparel/Footwear) with a market value of $12.8B, the 666th largest of 3,117 United States companies the cockpit tracks. Shares closed at $110.79 on 6 Nov 2026.
Performance Over six months the shares fell 15.5%, against +4.8% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 1.7% over the last twelve months (peer median +8.9%); the operating margin is 18.0% (peer median 16.5%).
Valuation It trades at 13.4× forward earnings against a peer median of 17.6× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -9% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is -29 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 20.0 points above its cost of capital (8.5% WACC).
Short interest Short interest is 15.4% of the free float (15 Oct 2026).
Next results Next results expected around 3 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $11.1B | $11.1B | $10.6B | $9.62B | $8.11B |
| Revenue growth | — | +5% | +10% | +19% | — |
| Gross profit | $6.22B | $6.28B | $6.27B | $5.60B | $4.48B |
| EBITDA | $2.54B | $2.73B | $2.95B | $2.59B | $2.03B |
| Net income | $1.42B | $1.58B | $1.81B | $1.55B | $855M |
| Free cash flow | $1.35B | $922M | $1.58B | $1.64B | $328M |
| Capital expenditure | $628M | $681M | $689M | $652M | $639M |
| Total debt | $2.14B | $1.80B | $1.58B | $1.40B | $1.07B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Lululemon Athletica LULU | $12.8B | -16% | +2% | 18% | 13.4× | -8.9% |
| Nike NKE | $57.3B | -13% | -1% | 9% | 30.4× | 7.0% |
| On Holding AG Class A ONON | $12.3B | +6% | +29% | 14% | 20.0× | 22.0% |
| Gap GAP | $7.55B | -8% | +1% | 11% | 8.4× | -2.3% |
| Deckers Brands DECK | $11.6B | -14% | +6% | 23% | 11.0× | -3.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LULU | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +19.5% | +9.8% | 6th highest of 21 |
| 6-month return | -15.5% | +4.8% | 2nd lowest of 21 |
| Distance from 52-week high | -51.0% | -13.6% | 2nd lowest of 21 |
| Revenue growth (TTM) | +1.7% | +8.9% | 6th lowest of 21 |
| Operating margin | 18.0% | 16.5% | 9th highest of 21 |
| Forward P/E | 13.4× | 17.6× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -8.9% | 10.1% | 2nd least demanding of 21 |
| Growth delivered (Del g) | +20.3% | +14.3% | 4th highest of 21 |
| Hurdle (Req g minus delivered) | -29.2 pp | -5.9 pp | 2nd least demanding of 21 |
| ROIC minus cost of capital | +20.0 pp | +9.1 pp | 5th highest of 21 |
| EV / EBITDA | 5.3× | 10.1× | cheapest of 19 |
| Net debt / EBITDA | 0.3× | 0.9× | 8th least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lululemon Athletica LULU | United States | $12.8B | -16% | +2% | 18% | 13.4× | -8.9% | +20.3% |
| On Holding AG Class A ONON | United States | $12.3B | +6% | +29% | 14% | 20.0× | 22.0% | +51.6% |
| Moncler MONC.MI | Italy | $13.8B | -11% | +3% | 29% | 19.5× | 10.8% | +16.8% |
| Deckers Brands DECK | United States | $11.6B | -14% | +6% | 23% | 11.0× | -3.3% | +16.5% |
| Ryohin Keikaku 7453.T | Japan | $16.4B | +31% | +18% | 11% | 32.4× | 9.5% | +15.3% |
| Levi Strauss & LEVI | United States | $8.77B | +1% | +5% | 13% | 14.6× | 5.2% | +7.1% |
| Shenzhou Intl 2313.HK | Hong Kong | $8.08B | -7% | +2% | 16% | 11.8× | -4.5% | +5.4% |
| V.F VFC | United States | $8.01B | +7% | -2% | 8% | 16.6× | 11.1% | +0.8% |
| Asics 7936.T | Japan | $20.7B | +10% | +28% | 19% | 27.1× | 14.1% | +19.8% |
| Ralph Lauren RL | United States | $22.4B | +5% | +15% | 17% | 18.6× | 11.0% | +13.0% |
| Huali Industrial 300979.SZ | China | $7.09B | +6% | -10% | 14% | 19.7× | -4.4% | +12.4% |
| Crocs CROX | United States | $6.94B | +47% | +1% | 23% | 9.6× | 1.1% | +23.9% |
| Next NXT.L | United Kingdom | $23.8B | +24% | +13% | 19% | 18.8× | 12.5% | +14.3% |
| Bosideng International 3998.HK | Hong Kong | $6.64B | +3% | +8% | 18% | 10.3× | -10.8% | +14.2% |
| Birkenstock BIRK | United States | $6.64B | -5% | +20% | 24% | 13.9× | 7.4% | +19.9% |
| Brunello Cucinelli BC.MI | Italy | $6.61B | +4% | +10% | 18% | 37.8× | 20.6% | +20.9% |
| Gildan Activewear GIL.TO | Canada | $6.48B | -40% | +40% | 15% | 6.8× | 6.5% | +13.7% |
| Ermenegildo Zegna ZGN | United States | $5.96B | +7% | +11% | 9% | 31.1× | 20.3% | +11.3% |
| Anta Sports 2020.HK | Hong Kong | $28.2B | +2% | +17% | 21% | 12.5× | -0.7% | +16.9% |
| Youngor Fashion 600177.SS | China | $5.69B | +10% | -5% | -3% | 12.8× | 23.3% | +0.1% |
| Burberry BRBY.L | United Kingdom | $5.38B | -4% | -2% | 7% | 28.8× | 19.1% | +0.6% |