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LULU Home Investment Highlights Valuation, Metrics & Events Price Chart Why The Stock Moved Return vs. Risk About LULU Interactive Breakdown Better Bets vs. LULU Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Trade Sentinel Industry Resource Links External Quote Links

Lululemon Athletica (LULU)

Market Price (3/15/2026): $157.9 | Market Cap: $18.7 Bil
Sector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

Lululemon Athletica (LULU)

Market Price (3/15/2026): $157.9
Market Cap: $18.7 Bil
Sector: Consumer Discretionary
Industry: Apparel, Accessories & Luxury Goods

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.2%, FCF Yield is 6.0%		 Weak multi-year price returns
2Y Excs Rtn is -98%, 3Y Excs Rtn is -118%		 
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 22%		  
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10%		  
3 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, and Health & Wellness Trends. Themes include Direct-to-Consumer Brands, Show more.		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.2%, FCF Yield is 6.0%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 22%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10%
3 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, and Health & Wellness Trends. Themes include Direct-to-Consumer Brands, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -98%, 3Y Excs Rtn is -118%

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Lululemon Athletica (LULU) stock has lost about 15% since 11/30/2025 because of the following key factors:

1. CEO Succession and Board Governance Concerns.

Lululemon announced on December 11, 2025, that CEO Calvin McDonald would step down at the end of January 2026, leading to interim co-CEOs, which created investor uncertainty. This leadership transition was exacerbated by ongoing shareholder activism from founder Chip Wilson, who is one of Lululemon's largest shareholders and intends to nominate three directors to the board at the 2026 annual meeting, citing concerns about the erosion of brand positioning and shareholder value.

2. Weakening North American Performance and Slower Overall Growth.

In the third quarter of fiscal 2025 (ended November 2, 2025), Lululemon's Americas net revenue decreased by 2%, and comparable sales for the Americas region declined by 5%. This weakness in a key market contrasts with stronger international growth, and analysts project a continued year-over-year decrease of 5.6% in Americas geographic revenue for the fourth quarter of fiscal 2025 (ending January 2026). This regional slowdown has contributed to investor concerns about the company's overall growth trajectory.

Show more

Stock Movement Drivers

Fundamental Drivers

The -14.3% change in LULU stock from 11/30/2025 to 3/13/2026 was primarily driven by a -12.9% change in the company's P/E Multiple.
(LTM values as of)113020253132026Change
Stock Price ($)184.18157.78-14.3%
Change Contribution By: 
Total Revenues ($ Mil)10,90411,0731.6%
Net Income Margin (%)16.4%15.7%-4.0%
P/E Multiple12.310.7-12.9%
Shares Outstanding (Mil)1201190.9%
Cumulative Contribution-14.3%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/13/2026
ReturnCorrelation
LULU-14.3% 
Market (SPY)-3.1%35.5%
Sector (XLY)-6.2%54.1%

Fundamental Drivers

The -22.0% change in LULU stock from 8/31/2025 to 3/13/2026 was primarily driven by a -20.4% change in the company's P/E Multiple.
(LTM values as of)83120253132026Change
Stock Price ($)202.20157.78-22.0%
Change Contribution By: 
Total Revenues ($ Mil)10,75011,0733.0%
Net Income Margin (%)16.8%15.7%-6.5%
P/E Multiple13.510.7-20.4%
Shares Outstanding (Mil)1211191.8%
Cumulative Contribution-22.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/13/2026
ReturnCorrelation
LULU-22.0% 
Market (SPY)3.0%38.5%
Sector (XLY)-4.2%47.3%

Fundamental Drivers

The -56.8% change in LULU stock from 2/28/2025 to 3/13/2026 was primarily driven by a -58.4% change in the company's P/E Multiple.
(LTM values as of)22820253132026Change
Stock Price ($)365.61157.78-56.8%
Change Contribution By: 
Total Revenues ($ Mil)10,18211,0738.8%
Net Income Margin (%)17.0%15.7%-7.8%
P/E Multiple25.810.7-58.4%
Shares Outstanding (Mil)1231193.5%
Cumulative Contribution-56.8%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/13/2026
ReturnCorrelation
LULU-56.8% 
Market (SPY)12.4%46.4%
Sector (XLY)3.4%52.5%

Fundamental Drivers

The -49.0% change in LULU stock from 2/28/2023 to 3/13/2026 was primarily driven by a -68.1% change in the company's P/E Multiple.
(LTM values as of)22820233132026Change
Stock Price ($)309.20157.78-49.0%
Change Contribution By: 
Total Revenues ($ Mil)7,46811,07348.3%
Net Income Margin (%)15.7%15.7%0.4%
P/E Multiple33.710.7-68.1%
Shares Outstanding (Mil)1281197.6%
Cumulative Contribution-49.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/13/2026
ReturnCorrelation
LULU-49.0% 
Market (SPY)73.4%43.1%
Sector (XLY)56.0%48.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
LULU Return12%-18%60%-25%-46%-22%-53%
Peers Return13%-25%29%24%-12%-7%12%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
LULU Win Rate42%33%83%50%42%33% 
Peers Win Rate55%35%55%55%48%33% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
LULU Max Drawdown-18%-34%-9%-54%-58%-22% 
Peers Max Drawdown-10%-48%-15%-20%-42%-8% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: NKE, DECK, VFC, PVH, RL. See LULU Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique KeyEventLULUS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-46.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven85.6%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven563 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-47.3%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven89.7%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven66 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-31.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven45.9%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven191 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-92.3%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven1191.8%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven640 days1,480 days

Compare to NKE, DECK, VFC, PVH, RL

In The Past

Lululemon Athletica's stock fell -46.1% during the 2022 Inflation Shock from a high on 11/16/2021. A -46.1% loss requires a 85.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Lululemon Athletica (LULU)

lululemon athletica inc., together with its subsidiaries, designs, distributes, and retails athletic apparel and accessories for women and men. It operates in two segments, Company-Operated Stores and Direct to Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle and athletic activities, such as yoga, running, and training, as well as other sweaty pursuits. It also provides fitness-related accessories and footwear. The company sells its products through a chain of company-operated stores; outlets and warehouse sales; interactive workout platform; a network of wholesale accounts, such as yoga studios, health clubs, and fitness centers; temporary locations; and license and supply arrangements, as well as directly to consumer through mobile apps and lululemon.com e-commerce website. As of January 30, 2022, it operated 574 company-operated stores under the lululemon brand in 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. lululemon athletica inc. was founded in 1998 and is based in Vancouver, Canada.

AI Analysis | Feedback

Here are 1-3 brief analogies for Lululemon Athletica:

  • A premium Nike for athleisure and wellness, emphasizing design and fit.

  • The Apple of athletic apparel, known for its premium pricing, strong brand loyalty, and distinctive design.

  • The Starbucks of activewear, building a premium lifestyle brand around health and well-being.

AI Analysis | Feedback

  • Athletic Apparel: Designs and sells a range of clothing including pants, shorts, tops, and jackets for men and women, suitable for yoga, running, training, and other athletic pursuits.
  • Fitness-Related Accessories: Offers various accessories that complement athletic activities and healthy lifestyles.
  • Footwear: Provides shoes designed for athletic and fitness purposes.

AI Analysis | Feedback

Lululemon Athletica (LULU) primarily sells its products directly to individual consumers through its company-operated stores, e-commerce website, and mobile apps. Based on the provided description, the company serves the following categories of customers:

  • Women engaged in athletic activities and healthy lifestyles: This category targets female individuals who participate in athletic activities such as yoga, running, and training, or who generally pursue a healthy and active lifestyle.
  • Men engaged in athletic activities and healthy lifestyles: This category targets male individuals who participate in athletic activities like yoga, running, and training, or who prioritize a healthy and active way of living.
  • Enthusiasts of specific fitness regimens: This category encompasses individuals who are dedicated to particular athletic activities like yoga, running, and training, and other "sweaty pursuits," seeking specialized apparel and accessories for their active lifestyles.

AI Analysis | Feedback

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Interactive Breakdown

Lululemon Athletica Interactive Breakdown Analysis

Better Bets vs. Lululemon Athletica (LULU)

Latest Trefis Analyses

Trade Ideas

Select ideas related to LULU.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MBLY_2272026_Dip_Buyer_HighCashEquity_ExInd02272026MBLYMobileye GlobalDip BuyDB | Cash/EquityDip Buyer with High Net Cash % Equity
Buying dips for companies with significant net cash as a % of market cap along with meaningful cash flow generation		0.0%0.0%0.0%
SAH_2202026_Insider_Buying_GTE_1Mil_EBITp+DE_V202202026SAHSonic AutomotiveInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		-5.9%-5.9%-6.1%
MAT_2132026_Insider_Buying_GTE_1Mil_EBITp+DE_V202132026MATMattelInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		2.9%2.9%0.0%
SONO_2132026_Insider_Buying_GTE_1Mil_EBITp+DE_V202132026SONOSonosInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		-0.7%-0.7%-4.6%
DECK_2062026_Dip_Buyer_ValueBuy02062026DECKDeckers OutdoorDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		1.6%1.6%-0.8%
LULU_1302026_Dip_Buyer_FCFYield01302026LULULululemon AthleticaDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		6.1%6.1%-2.8%

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Wealth Management

Peer Comparisons

Peers to compare with:

Financials

LULUNKEDECKVFCPVHRLMedian
NameLululemo.Nike Deckers .VF PVH Ralph La. 
Mkt Price157.7853.98100.7815.9660.87330.7380.83
Mkt Cap18.779.914.56.22.920.216.6
Rev LTM11,07346,5135,3759,5838,8177,8339,200
Op Inc LTM2,4403,0421,2805116561,2541,267
FCF LTM1,1282,475929310442694812
FCF 3Y Avg1,3434,767985603508843914
CFO LTM1,8613,0561,0134675841,1311,072
CFO 3Y Avg2,0255,4701,0747657071,1091,092

Growth & Margins

LULUNKEDECKVFCPVHRLMedian
NameLululemo.Nike Deckers .VF PVH Ralph La. 
Rev Chg LTM8.8%-5.0%9.2%-0.3%0.5%12.7%4.6%
Rev Chg 3Y Avg14.2%-1.7%14.7%-6.2%-0.5%6.9%3.2%
Rev Chg Q7.1%0.6%7.1%1.5%1.7%12.2%4.4%
QoQ Delta Rev Chg LTM1.6%0.2%2.5%0.4%0.4%3.5%1.0%
Op Mgn LTM22.0%6.5%23.8%5.3%7.4%16.0%11.7%
Op Mgn 3Y Avg22.4%9.8%22.9%4.8%8.2%13.8%11.8%
QoQ Delta Op Mgn LTM-0.8%-0.8%0.3%0.4%0.1%0.8%0.2%
CFO/Rev LTM16.8%6.6%18.8%4.9%6.6%14.4%10.5%
CFO/Rev 3Y Avg20.1%11.0%22.7%7.8%7.9%15.6%13.3%
FCF/Rev LTM10.2%5.3%17.3%3.2%5.0%8.9%7.1%
FCF/Rev 3Y Avg13.4%9.6%20.8%6.1%5.7%11.9%10.8%

Valuation

LULUNKEDECKVFCPVHRLMedian
NameLululemo.Nike Deckers .VF PVH Ralph La. 
Mkt Cap18.779.914.56.22.920.216.6
P/S1.71.72.70.70.32.61.7
P/EBIT7.726.310.811.113.716.912.4
P/E10.731.614.027.98.422.018.0
P/CFO10.026.114.313.44.917.913.8
Total Yield9.3%3.2%7.2%5.8%12.0%5.6%6.5%
Dividend Yield0.0%0.0%0.0%2.3%0.1%1.1%0.1%
FCF Yield 3Y Avg3.3%3.8%5.1%8.1%10.4%6.3%5.7%
D/E0.10.10.00.91.50.10.1
Net D/E0.00.0-0.10.61.40.00.0

Returns

LULUNKEDECKVFCPVHRLMedian
NameLululemo.Nike Deckers .VF PVH Ralph La. 
1M Rtn-10.3%-12.8%-12.6%-22.9%-11.1%-8.0%-11.9%
3M Rtn-23.0%-19.5%-0.4%-18.4%-19.1%-10.4%-18.7%
6M Rtn-1.3%-25.1%-15.0%8.5%-24.8%5.5%-8.1%
12M Rtn-49.1%-23.8%-13.9%0.2%-4.7%54.6%-9.3%
3Y Rtn-46.5%-52.0%44.0%-16.2%-17.2%212.0%-16.7%
1M Excs Rtn-7.9%-10.5%-10.3%-20.5%-8.8%-5.6%-9.5%
3M Excs Rtn-14.3%-15.8%1.7%-14.7%-17.8%-5.7%-14.5%
6M Excs Rtn-7.7%-29.3%-17.4%1.3%-28.6%2.3%-12.5%
12M Excs Rtn-71.2%-45.8%-38.1%-23.5%-29.0%27.7%-33.6%
3Y Excs Rtn-118.2%-122.1%-29.3%-96.4%-92.1%130.4%-94.3%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Women's apparel6,1475,260   
Men's apparel2,2531,957   
Accessories and other categories1,219894   
Company-operated stores  2,8211,6592,501
Direct to consumer  2,7782,2841,138
Other  657459340
Total9,6198,1116,2574,4023,979


Price Behavior

Price Behavior
Market Price$157.78 
Market Cap ($ Bil)18.7 
First Trading Date07/27/2007 
Distance from 52W High-53.8% 
   50 Days200 Days
DMA Price$184.99$198.27
DMA Trenddowndown
Distance from DMA-14.7%-20.4%
 3M1YR
Volatility39.1%50.9%
Downside Capture224.75207.66
Upside Capture98.4997.74
Correlation (SPY)34.3%45.6%
LULU Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta2.142.101.471.591.231.18
Up Beta-0.560.070.331.441.151.11
Down Beta3.332.781.491.130.890.94
Up Capture322%188%190%177%107%126%
Bmk +ve Days9203170142431
Stock +ve Days14243566129389
Down Capture201%267%169%185%145%110%
Bmk -ve Days12213054109320
Stock -ve Days7172658121362

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with LULU
LULU-48.5%50.8%-1.13-
Sector ETF (XLY)13.0%23.7%0.4652.0%
Equity (SPY)19.6%18.9%0.8145.7%
Gold (GLD)71.9%26.3%2.05-8.8%
Commodities (DBC)19.3%17.3%0.894.9%
Real Estate (VNQ)6.2%16.3%0.1929.9%
Bitcoin (BTCUSD)-15.3%44.2%-0.2525.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with LULU
LULU-10.8%41.3%-0.15-
Sector ETF (XLY)8.0%23.7%0.3057.1%
Equity (SPY)13.1%17.0%0.6153.0%
Gold (GLD)24.1%17.3%1.140.5%
Commodities (DBC)11.2%19.0%0.477.7%
Real Estate (VNQ)4.8%18.8%0.1634.5%
Bitcoin (BTCUSD)6.3%56.7%0.3323.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with LULU
LULU10.3%40.2%0.38-
Sector ETF (XLY)12.4%21.9%0.5256.8%
Equity (SPY)14.5%17.9%0.7051.5%
Gold (GLD)14.4%15.6%0.771.4%
Commodities (DBC)8.6%17.6%0.4012.6%
Real Estate (VNQ)5.6%20.7%0.2336.9%
Bitcoin (BTCUSD)67.4%66.8%1.0717.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity4.5 Mil
Short Interest: % Change Since 2152026-2.0%
Average Daily Volume1.7 Mil
Days-to-Cover Short Interest2.6 days
Basic Shares Quantity118.5 Mil
Short % of Basic Shares3.8%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
12/11/20259.6%15.0%13.3%
9/4/2025-18.6%-19.6%-14.8%
6/5/2025-19.8%-25.3%-28.7%
3/27/2025-14.2%-25.1%-21.4%
12/5/202415.9%12.9%14.1%
8/29/20240.2%-2.0%4.8%
6/5/20244.8%0.5%-4.6%
3/21/2024-15.8%-18.4%-24.4%
...
SUMMARY STATS   
# Positive101010
# Negative111111
Median Positive8.1%10.1%6.8%
Median Negative-7.4%-9.8%-14.8%
Max Positive15.9%18.4%18.0%
Max Negative-19.8%-25.3%-28.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
10/31/202512/11/202510-Q
07/31/202509/04/202510-Q
04/30/202506/05/202510-Q
01/31/202503/27/202510-K
10/31/202412/05/202410-Q
07/31/202408/29/202410-Q
04/30/202406/05/202410-Q
01/31/202403/21/202410-K
10/31/202312/07/202310-Q
07/31/202308/31/202310-Q
04/30/202306/01/202310-Q
01/31/202303/28/202310-K
10/31/202212/08/202210-Q
07/31/202209/01/202210-Q
04/30/202206/02/202210-Q
01/31/202203/29/202210-K

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Frank, MeghanChief Financial OfficerDirectSell1022026211.372,658561,8215,416,568Form
2Burgoyne, CelestePres Americas & Global GuestDirectSell12172025204.0013,5112,756,1811,084,847Form
3Neuburger, NicoleChief Brand OfficerDirectSell10022025178.00615109,4701,600,754Form
4McDonald, CalvinChief Executive OfficerDirectSell7012025235.6927,0496,375,22626,059,024Form

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