Consumer Discretionary · Apparel, Accessories & Luxury Goods · US stock · price as of 16 Oct 2026
Key indicators
Price
$97.10
52-week range
$90.38 – $225.98
Market cap
$11.0B
P/E (trailing)
8.0×
EV / EBITDA
3.8×
Free-cash-flow yield
12.4%
Dividend yield
–
Revenue (last 12 months)
$11.1B
Revenue growth (3y a year)
11.0%
Operating margin
17.8%
Return on invested capital
41.1%
Net debt / EBITDA
-0.6×
Fair value
Blended fair value$436.88 range $387 – $468
Versus priceData under review+0% to fair value
Peer multiples
$265.52
Fundamentals-adjusted multiple
$410.34
10-year DCF (market-scaled)
$634.78
Earnings power value (floor, not blended)
$182.10
Model uncertainty
Medium
X-Ray Score
77/ 100 · High confidence · ahead of 96% of sector peers
Valuation95
Growth68
Profitability65
Financial health75
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Lululemon designs and sells athletic apparel and accessories for yoga, running, training and everyday wear. It sells through its own retail stores, its websites and mobile apps, and to a lesser extent through outlets and wholesale partners. Revenue comes from product sales to consumers, and the company relies on brand loyalty, product design and its growth in international markets.
The company reported revenue of $11.1 billion for the last twelve months at lululemon athletica inc.. Revenue growth over the past three years averaged 11.0% a year. It kept an operating margin of 17.8%. The return on invested capital reached 41%, a measure of profit earned on the money invested in the business. Net debt to EBITDA is -0.6 times, which means the company holds more cash than debt. The company does not pay a dividend.
StocksXray gives lululemon athletica inc. an X-Ray Score of 77 out of 100 (high confidence), ahead of 96% of the S&P 500 stocks in its sector. Its strongest lens is valuation (95) and its weakest is profitability (65).
Our fair value blend is $436.88 (range $387.45 to $467.79). At $97.10 the stock trades 78% below that blend, so the label is "Data under review" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
lululemon athletica inc. (LULU)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
FY2026
Now
Price
$315.91
$310.85
$478.03
$414.20
$174.50
$97.10
Market cap
$41.2B
$39.8B
$60.7B
$51.3B
$20.8B
$11.0B
P/E
42.2×
46.5×
39.2×
28.3×
13.2×
8.0×
EV / revenue
6.4×
4.8×
6.1×
4.7×
1.7×
0.9×
EV / EBITDA
25.6×
23.8×
23.3×
16.7×
7.0×
3.8×
Price / free cash flow
41.4×
121.4×
36.9×
32.4×
22.5×
8.1×
Free-cash-flow yield
2.4%
0.8%
2.7%
3.1%
4.4%
12.4%
Price / book
15.0×
12.6×
14.4×
11.9×
4.2×
2.3×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 12 Good · ● 4 Average · ● 0 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−6.6%Average
Free-cash-flow yield12.4%Good
Risk models
Altman Z score6.3×Good
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)25.7%Good
Free-cash-flow growth (3y)41.1%Good
Revenue growth (3y)11.0%Good
Growth consistency90%Average
Balance sheet
Current ratio2.2×Good
Net debt / EBITDA-0.6×Good
Interest coverno interest costGood
Valuation
Fair value vs price4.5×Good
EBIT / EV yield20.7%Good
Profitability
Return on invested capital41.1%Good
Operating margin17.8%Average
Gross profitability73.4%Good
XStocksXray
lululemon athletica inc. (LULU)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
FY26
LTM
Revenue
6,257
8,111
9,619
10,588
11,103
11,094
Gross profit
3,609
4,492
5,609
6,271
6,284
6,225
Operating income
1,333
1,328
2,133
2,506
2,211
1,979
Net income
975
855
1,550
1,815
1,579
1,418
Diluted EPS ($)
7.49
6.68
12.20
14.64
13.26
12.17
Free cash flow
995
328
1,644
1,583
922
1,354
Gross margin
57.7%
55.4%
58.3%
59.2%
56.6%
56.1%
Operating margin
21.3%
16.4%
22.2%
23.7%
19.9%
17.8%
Net margin
15.6%
10.5%
16.1%
17.1%
14.2%
12.8%
Balance sheet
FY22
FY23
FY24
FY25
FY26
LTM
Total assets
4,942
5,607
7,092
7,603
8,457
8,485
Cash
1,260
1,155
2,244
1,984
1,807
1,390
Total debt
0
0
0
0
–
0
Equity
2,740
3,149
4,232
4,324
4,962
4,791
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.