Lululemon Athletica Inc. (LULU) Financial Ratios
21 years of historical data (2005–2025) · Consumer Cyclical · Apparel - Retail
EV/EBITDA
↓
5.43
↓-73% vs avg
5yr avg: 19.89
30Y Low5.9·High42.4
P/FCF
↓
15.96
↓-69% vs avg
5yr avg: 50.94
30Y Low19.7·High121.4
P/B Ratio
↓
3.13
↓-73% vs avg
5yr avg: 11.60
30Y Low3.1·High21.5
ROE
↓
33.8%
-8% vs avg
5yr avg: 36.8%
30Y Low5%·High42%
Debt/EBITDA
↑
0.66
+11% vs avg
5yr avg: 0.60
30Y Low0.0·High0.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
LULU Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Lululemon Athletica Inc. trades at 10.0x earnings, 71% below its 5-year average of 33.9x, sitting at the 0th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.6x, the stock trades at a discount of 49%. On a free-cash-flow basis, the stock trades at 16.0x P/FCF, 69% below the 5-year average of 50.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.7B | $20.8B | $51.3B | $60.7B | $39.8B | $41.2B | $43.0B | $31.3B | $19.6B | $10.8B | $9.2B |
| Enterprise Value | $14.7B | $20.8B | $50.9B | $59.9B | $39.7B | $40.8B | $42.7B | $31.0B | $18.7B | $9.8B | $8.4B |
| P/E Ratio → | 9.96 | 13.16 | 28.29 | 39.18 | 46.53 | 42.18 | 73.04 | 48.56 | 40.48 | 41.62 | 30.24 |
| P/S Ratio | 1.32 | 1.87 | 4.85 | 6.31 | 4.91 | 6.58 | 9.77 | 7.88 | 5.95 | 4.07 | 3.91 |
| P/B Ratio | 3.13 | 4.14 | 11.87 | 14.35 | 12.64 | 15.02 | 16.81 | 16.06 | 13.54 | 6.74 | 6.75 |
| P/FCF | 15.96 | 22.54 | 32.42 | 36.94 | 121.40 | 41.38 | 74.92 | 81.16 | 37.87 | 32.49 | 38.73 |
| P/OCF | 9.18 | 12.97 | 22.59 | 26.45 | 41.17 | 29.63 | 53.55 | 46.84 | 26.35 | 22.01 | 23.74 |
P/E links to full P/E history page with 30-year chart
LULU EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Lululemon Athletica Inc.'s enterprise value stands at 5.4x EBITDA, 73% below its 5-year average of 19.9x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 52% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.87 | 4.81 | 6.23 | 4.90 | 6.52 | 9.69 | 7.79 | 5.69 | 3.69 | 3.60 |
| EV / EBITDA | 5.43 | 7.67 | 17.25 | 23.84 | 24.51 | 26.18 | 42.43 | 29.49 | 22.57 | 17.33 | 16.59 |
| EV / EBIT | 6.65 | 9.28 | 20.32 | 27.14 | 23.00 | 29.67 | 50.20 | 34.86 | 26.49 | 19.78 | 20.04 |
| EV / FCF | — | 22.53 | 32.16 | 36.43 | 121.14 | 41.00 | 74.31 | 80.24 | 36.16 | 29.50 | 35.63 |
LULU Profitability
Margins and return-on-capital ratios measuring operating efficiency
Lululemon Athletica Inc. earns an operating margin of 19.9%, significantly above the Consumer Cyclical sector average of 2.9%. Operating margins have compressed from 22.2% to 19.9% over the past 3 years, signaling potential cost pressures or competitive headwinds. Return on equity of 33.8% is exceptionally high — well above the sector median of 5.8%. ROIC of 37.2% represents excellent returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.6% | 56.6% | 59.2% | 58.3% | 55.4% | 57.7% | 56.0% | 55.9% | 55.2% | 52.8% | 51.2% |
| Operating Margin | 19.9% | 19.9% | 23.7% | 22.2% | 16.4% | 21.3% | 18.6% | 22.3% | 21.5% | 17.2% | 18.0% |
| Net Profit Margin | 14.2% | 14.2% | 17.1% | 16.1% | 10.5% | 15.6% | 13.4% | 16.2% | 14.7% | 9.8% | 12.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 33.8% | 33.8% | 42.4% | 42.0% | 29.0% | 36.8% | 26.1% | 38.0% | 31.8% | 17.5% | 25.4% |
| ROA | 19.7% | 19.7% | 24.7% | 24.4% | 16.2% | 21.4% | 15.8% | 24.1% | 23.7% | 14.1% | 20.4% |
| ROIC | 37.2% | 37.2% | 51.4% | 49.6% | 36.7% | 43.8% | 32.3% | 61.6% | 89.9% | 55.2% | 54.9% |
| ROCE | 35.8% | 35.8% | 44.6% | 44.5% | 34.7% | 39.0% | 27.5% | 41.9% | 42.9% | 29.2% | 33.6% |
LULU Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Lululemon Athletica Inc. carries a Debt/EBITDA ratio of 0.7x, which is very conservative (85% below the sector average of 4.3x). The company holds a net cash position — cash of $1.8B exceeds total debt of $1.8B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.36 | 0.36 | 0.36 | 0.33 | 0.34 | 0.32 | 0.31 | 0.38 | — | 0.00 | — |
| Debt / EBITDA | 0.66 | 0.66 | 0.53 | 0.56 | 0.66 | 0.57 | 0.79 | 0.70 | — | 0.01 | — |
| Net Debt / Equity | — | -0.00 | -0.09 | -0.20 | -0.03 | -0.14 | -0.14 | -0.18 | -0.61 | -0.62 | -0.54 |
| Net Debt / EBITDA | -0.00 | -0.00 | -0.14 | -0.33 | -0.05 | -0.24 | -0.35 | -0.34 | -1.06 | -1.76 | -1.44 |
| Debt / FCF | — | -0.01 | -0.26 | -0.51 | -0.26 | -0.38 | -0.61 | -0.92 | -1.70 | -2.99 | -3.10 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($1.8B) exceeds total debt ($1.8B)
LULU Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Lululemon Athletica Inc.'s current ratio of 2.26x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.36x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 2.49x to 2.26x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.26 | 2.26 | 2.16 | 2.49 | 2.12 | 1.86 | 2.41 | 2.91 | 2.86 | 4.91 | 4.82 |
| Quick Ratio | 1.36 | 1.36 | 1.38 | 1.68 | 1.15 | 1.17 | 1.67 | 2.08 | 2.05 | 3.78 | 3.58 |
| Cash Ratio | 0.96 | 0.96 | 1.08 | 1.38 | 0.77 | 0.90 | 1.30 | 1.76 | 1.76 | 3.39 | 3.04 |
| Asset Turnover | — | 1.31 | 1.39 | 1.36 | 1.45 | 1.27 | 1.05 | 1.21 | 1.58 | 1.33 | 1.41 |
| Inventory Turnover | 2.83 | 2.83 | 2.99 | 3.03 | 2.50 | 2.74 | 2.99 | 3.39 | 3.64 | 3.79 | 3.84 |
| Days Sales Outstanding | — | 6.27 | 10.43 | 11.71 | 14.34 | 11.43 | 6.28 | 11.50 | 9.45 | 9.39 | 14.07 |
LULU Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Lululemon Athletica Inc. returns 8.0% to shareholders annually primarily through share buybacks. The earnings yield of 10.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.0% | 7.6% | 3.5% | 2.6% | 2.1% | 2.4% | 1.4% | 2.1% | 2.5% | 2.4% | 3.3% |
| FCF Yield | 6.3% | 4.4% | 3.1% | 2.7% | 0.8% | 2.4% | 1.3% | 1.2% | 2.6% | 3.1% | 2.6% |
| Buyback Yield | 8.0% | 5.7% | 3.2% | 0.9% | 1.1% | 2.0% | 0.1% | 0.6% | 3.1% | 0.9% | 0.3% |
| Total Shareholder Yield | 8.0% | 5.7% | 3.2% | 0.9% | 1.1% | 2.0% | 0.1% | 0.6% | 3.1% | 0.9% | 0.3% |
| Shares Outstanding | — | $119M | $124M | $127M | $128M | $130M | $131M | $131M | $134M | $136M | $137M |
Peer Comparison
Compare LULU with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 LULUYou | $15B | 10.0 | 5.4 | 16.0 | 56.6% | 19.9% | 33.8% | 37.2% | 0.7 |
 NKE | $52B | 20.3 | 12.4 | 16.0 | 42.7% | 8.0% | 23.3% | 16.7% | 2.4 |
 UAA | $1B | -13.8 | — | — | 47.9% | -3.6% | -10.0% | -5.1% | — |
 CROX | $5B | -70.5 | 7.0 | 8.0 | 57.0% | 22.0% | -5.2% | 21.7% | 1.7 |
 PVH | $4B | 8.7 | 6.8 | 7.2 | 59.4% | 8.5% | 11.7% | 7.0% | 3.3 |
 RL | $50B | 32.1 | 44.4 | 49.5 | 68.6% | 13.2% | 29.5% | 20.6% | 2.3 |
 VFC | $8B | -39.6 | 22.3 | 22.4 | 53.5% | 3.2% | -8.6% | 2.7% | 9.5 |
 HBI | $2B | -7.1 | 16.6 | 10.1 | 38.8% | 5.3% | -141.4% | 4.5% | 9.2 |
 ONON | $11B | 48.5 | 16.4 | 32.9 | 62.8% | 12.5% | 12.9% | 26.9% | 1.2 |
 AMZN | $3.0T | 38.3 | 20.7 | 384.3 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 SHOP | $137B | 112.2 | 90.4 | 68.2 | 48.1% | 12.7% | 9.8% | 9.4% | 0.1 |
| Consumer Cyclical Median | — | 19.6 | 11.4 | 14.9 | 37.9% | 2.9% | 5.8% | 5.8% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonLULU — Frequently Asked Questions
Quick answers to the most common questions about buying LULU stock.
What is Lululemon Athletica Inc.'s P/E ratio?
Lululemon Athletica Inc.'s current P/E ratio is 10.0x. The historical average is 39.5x.
What is Lululemon Athletica Inc.'s EV/EBITDA?
Lululemon Athletica Inc.'s current EV/EBITDA is 5.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.9x.
What is Lululemon Athletica Inc.'s ROE?
Lululemon Athletica Inc.'s return on equity (ROE) is 33.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 30.7%.
Is LULU stock overvalued?
Based on historical data, Lululemon Athletica Inc. is trading at a P/E of 10.0x. Compare with industry peers and growth rates for a complete picture.
What are Lululemon Athletica Inc.'s profit margins?
Lululemon Athletica Inc. has 56.6% gross margin and 19.9% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Lululemon Athletica Inc. have?
Lululemon Athletica Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.