Latest revenue
$2.57B
as of 2025-11-02
Latest net income
$306.8M
as of 2025-11-02
Net margin
12.0%
as of 2025-11-02
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $14.05B
- Enterprise value
- $14.05B
- P/E (trailing)
- 8.9×
- Forward P/E
- —
- P/B
- 3.12×
- Dividend yield
- 0.0%
- 52-wk high
- $340.25
- 52-wk low
- $116.63
- Beta
- —
- Shares out
- 110.5M
5-year trend
What this company does
Lululemon designs and sells technical athletic apparel, footwear, and accessories through 796 company-operated stores, e-commerce, and outlets across the Americas, China, APAC, and EMEA. Direct retail sales of its branded yoga, running, and training gear drive nearly all revenue, generating $7.5 billion over the first three quarters of fiscal 2025. Growth has slowed sharply, with operating income down and margins compressing as inventory swells 39% year-over-year, signaling demand softness in its core Americas market amid intensifying athleisure competition.
Generated from LULU's filing dated 2026-03-17
Key risks
- Margin compression: Q3 gross profit grew just 1.7% on 7% revenue growth; SG&A rose 8.6%, dragging operating income down 11% YoY to $436M.
- Inventory bloat: Inventories jumped 39% YoY to $1.998B versus 7% revenue growth, signaling potential markdown risk and slowing sell-through.
- Cash burn from buybacks: $907M repurchased YTD plus $498M capex drove cash down 48% to $1.04B; operating cash flow fell 47% YoY.
Generated from LULU's filing dated 2026-03-17
Profitability
Gross margin
56.6%
4.4%Operating margin
19.9%
15.9%Net margin
14.2%
17.0%Return on equity
31.8%
24.2%Return on assets
18.7%
21.8%Leverage
Debt / equity
0.70×
7.1%Debt / assets
41.3%
4.2%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-02-01 | $3.64B | +0.8% | $586.9M | -21.6% | 16.1% |
Q4 2025 2025-11-02 | $2.57B | +7.1% | $306.8M | -12.8% | 12.0% |
Q3 2025 2025-08-03 | $2.53B | +6.5% | $370.9M | -5.6% | 14.7% |
Q2 2025 2025-05-04 | $2.37B | +7.3% | $314.6M | -2.1% | 13.3% |
Q1 2025 2025-02-02 | $3.61B | — | $748.4M | — | 20.7% |
Q4 2024 2024-10-27 | $2.40B | +8.7% | $351.9M | +41.5% | 14.7% |
Q3 2024 2024-07-28 | $2.37B | +7.3% | $392.9M | +15.0% | 16.6% |
Q2 2024 2024-04-28 | $2.21B | — | $321.4M | — | 14.6% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Apparel & Other Finishd Prods of Fabrics & Similar Matl · SIC 2300
Your notes
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Insider activity
Insider buying
$1.5M
Insider selling
$9.9M
Net activity
−$8.4M
Distinct insiders
6
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns LULU
Institutional value
$7.29B
Total shares held
48.3M
Distinct holders
664
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 9.5M | $1.45B | — | New |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 6.9M | $1.06B | — | New |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 5.2M | $791.7M | — | New |
| 4 | FEDERATED HERMES, INC. | 3.0M | $459.7M | — | New |
| 5 | FLOSSBACH VON STORCH SE | 1.9M | $284.4M | — | New |
| 6 | Invesco Ltd. | 1.8M | $278.1M | — | New |
| 7 | DIMENSIONAL FUND ADVISORS LP | 1.2M | $184.9M | — | New |
| 8 | Legal & General Group Plc | 1.0M | $154.3M | — | New |
| 9 | JANE STREET GROUP, LLC | 970.8K | $148.6M | — | New |
| 10 | JPMORGAN CHASE & CO | 947.2K | $138.1M | — | New |
| 11 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 816.7K | $125.0M | — | New |
| 12 | VANGUARD FIDUCIARY TRUST CO | 608.1K | $93.1M | — | New |
| 13 | LOS ANGELES CAPITAL MANAGEMENT LLC | 598.2K | $91.6M | — | New |
| 14 | CITIGROUP INC | 580.1K | $88.8M | — | New |
| 15 | Bank of New York Mellon Corp | 542.9K | $83.1M | — | New |
| 16 | UBS Group AG | 481.6K | $73.7M | — | New |
| 17 | BNP PARIBAS FINANCIAL MARKETS | 480.8K | $73.6M | — | New |
| 18 | DEUTSCHE BANK AG\ | 474.2K | $72.6M | — | New |
| 19 | WELLS FARGO & COMPANY/MN | 443.2K | $67.9M | — | New |
| 20 | Nuveen, LLC | 390.2K | $59.7M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Gross margin compressed ~190bps to 55.6% this quarter—how much is tariffs versus markdowns, and when does it inflect?
- 2
Inventories jumped 39% YoY to $2.0B against 7% revenue growth—what's the markdown risk embedded in Q4 guidance?
- 3
Operating cash flow fell 47% to $460M while you spent $907M on buybacks—is that pace sustainable into FY26?
Refreshed when LULU files a new report · last from 2026-03-17