Stock Analysis on Net

lululemon athletica inc. (NASDAQ:LULU)

Market Value Added (MVA)

Microsoft Excel

Market value added (MVA) is the difference between a firm fair value and its invested capital. MVA is a measure of the value a company has created in excess of the resources already committed to the enterprise.


MVA

lululemon athletica inc., MVA calculation

US$ in thousands

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Fair value of debt
Operating lease liability 1,403,282 1,070,334 881,052 798,681 739,961 783,913
Market value of common equity 60,337,715 40,732,106 43,998,362 41,338,271 26,137,149 19,223,439
Undesignated preferred stock, $0.01 par value; none issued and outstanding
Market (fair) value of lululemon 61,740,997 41,802,440 44,879,414 42,136,952 26,877,110 20,007,352
Less: Invested capital2 5,978,501 4,526,979 3,909,051 3,672,427 3,008,240 2,459,537
MVA 55,762,496 37,275,461 40,970,363 38,464,525 23,868,870 17,547,815

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

2 Invested capital. See details »

Item Description The company
MVA lululemon athletica inc. market (fair) value less invested capital. lululemon athletica inc. MVA decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

MVA Spread Ratio

lululemon athletica inc., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Selected Financial Data (US$ in thousands)
Market value added (MVA)1 55,762,496 37,275,461 40,970,363 38,464,525 23,868,870 17,547,815
Invested capital2 5,978,501 4,526,979 3,909,051 3,672,427 3,008,240 2,459,537
Performance Ratio
MVA spread ratio3 932.72% 823.41% 1,048.09% 1,047.39% 793.45% 713.46%
Benchmarks
MVA Spread Ratio, Competitors4
Nike Inc. 424.32% 745.30% 764.83% 1,149.95% 776.97% 904.20%

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

1 MVA. See details »

2 Invested capital. See details »

3 2024 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 55,762,496 ÷ 5,978,501 = 932.72%

4 Click competitor name to see calculations.

Performance ratio Description The company
MVA spread ratio The ratio of MVA to invested capital. It measures the efficiency with which investors’ capital investment has translated into a franchise value and into an aggregate net present value premium. lululemon athletica inc. MVA spread ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

MVA Margin

lululemon athletica inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Selected Financial Data (US$ in thousands)
Market value added (MVA)1 55,762,496 37,275,461 40,970,363 38,464,525 23,868,870 17,547,815
 
Net revenue 9,619,278 8,110,518 6,256,617 4,401,879 3,979,296 3,288,319
Add: Increase (decrease) in unredeemed gift card liability 55,001 43,283 52,347 35,435 21,001 16,744
Adjusted net revenue 9,674,279 8,153,801 6,308,964 4,437,314 4,000,297 3,305,063
Performance Ratio
MVA margin2 576.40% 457.15% 649.40% 866.84% 596.68% 530.94%
Benchmarks
MVA Margin, Competitors3
Nike Inc. 182.82% 296.77% 346.10% 542.78% 396.41% 327.83%

Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).

1 MVA. See details »

2 2024 Calculation
MVA margin = 100 × MVA ÷ Adjusted net revenue
= 100 × 55,762,496 ÷ 9,674,279 = 576.40%

3 Click competitor name to see calculations.

Performance ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. lululemon athletica inc. MVA margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.