Stock Analysis on Net

lululemon athletica inc. (NASDAQ:LULU)

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

lululemon athletica inc., adjusted financial ratios

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Activity Ratio
Total Asset Turnover
Reported 1.36 1.45 1.27 1.05 1.21 1.58
Adjusted 1.37 1.46 1.28 1.06 1.23 1.16
Liquidity Ratio
Current Ratio
Reported 2.49 2.12 1.86 2.41 2.91 2.86
Adjusted 3.07 2.55 2.18 2.92 3.62 3.56
Solvency Ratios
Debt to Equity
Reported 0.00 0.00 0.00 0.00 0.00 0.00
Adjusted 0.31 0.31 0.29 0.29 0.35 0.51
Debt to Capital
Reported 0.00 0.00 0.00 0.00 0.00 0.00
Adjusted 0.24 0.24 0.23 0.22 0.26 0.34
Financial Leverage
Reported 1.68 1.78 1.80 1.64 1.68 1.44
Adjusted 1.55 1.62 1.65 1.51 1.56 1.85
Profitability Ratios
Net Profit Margin
Reported 16.12% 10.54% 15.59% 13.38% 16.22% 14.71%
Adjusted 16.20% 10.43% 15.88% 15.91% 17.08% 13.48%
Return on Equity (ROE)
Reported 36.63% 27.15% 35.60% 23.02% 33.07% 33.46%
Adjusted 34.37% 24.67% 33.45% 25.52% 32.77% 29.07%
Return on Assets (ROA)
Reported 21.86% 15.25% 19.73% 14.07% 19.67% 23.21%
Adjusted 22.12% 15.19% 20.30% 16.89% 21.02% 15.68%

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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. lululemon athletica inc. adjusted total asset turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. lululemon athletica inc. adjusted current ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. lululemon athletica inc. adjusted debt-to-equity ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. lululemon athletica inc. adjusted debt-to-capital ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.
lululemon athletica inc. adjusted financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. lululemon athletica inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. lululemon athletica inc. adjusted ROE deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. lululemon athletica inc. adjusted ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

lululemon athletica inc., Financial Ratios: Reported vs. Adjusted


Adjusted Total Asset Turnover

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Reported
Selected Financial Data (US$ in thousands)
Net revenue 9,619,278 8,110,518 6,256,617 4,401,879 3,979,296 3,288,319
Total assets 7,091,941 5,607,038 4,942,478 4,185,215 3,281,354 2,084,711
Activity Ratio
Total asset turnover1 1.36 1.45 1.27 1.05 1.21 1.58
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net revenue2 9,674,279 8,153,801 6,308,964 4,437,314 4,000,297 3,305,063
Adjusted total assets3 7,082,765 5,600,636 4,936,387 4,178,484 3,249,919 2,842,075
Activity Ratio
Adjusted total asset turnover4 1.37 1.46 1.28 1.06 1.23 1.16

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 2024 Calculation
Total asset turnover = Net revenue ÷ Total assets
= 9,619,278 ÷ 7,091,941 = 1.36

2 Adjusted net revenue. See details »

3 Adjusted total assets. See details »

4 2024 Calculation
Adjusted total asset turnover = Adjusted net revenue ÷ Adjusted total assets
= 9,674,279 ÷ 7,082,765 = 1.37

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. lululemon athletica inc. adjusted total asset turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level.

Adjusted Current Ratio

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Reported
Selected Financial Data (US$ in thousands)
Current assets 4,060,577 3,159,453 2,614,853 2,124,379 1,807,938 1,429,282
Current liabilities 1,631,261 1,492,198 1,405,334 883,178 620,418 500,477
Liquidity Ratio
Current ratio1 2.49 2.12 1.86 2.41 2.91 2.86
Adjusted
Selected Financial Data (US$ in thousands)
Current assets 4,060,577 3,159,453 2,614,853 2,124,379 1,807,938 1,429,282
Adjusted current liabilities2 1,324,782 1,240,720 1,197,139 727,330 500,005 401,065
Liquidity Ratio
Adjusted current ratio3 3.07 2.55 2.18 2.92 3.62 3.56

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 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 4,060,577 ÷ 1,631,261 = 2.49

2 Adjusted current liabilities. See details »

3 2024 Calculation
Adjusted current ratio = Current assets ÷ Adjusted current liabilities
= 4,060,577 ÷ 1,324,782 = 3.07

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. lululemon athletica inc. adjusted current ratio improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Debt to Equity

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Reported
Selected Financial Data (US$ in thousands)
Total debt
Stockholders’ equity 4,232,081 3,148,799 2,740,046 2,558,566 1,952,218 1,445,975
Solvency Ratio
Debt to equity1 0.00 0.00 0.00 0.00 0.00 0.00
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt2 1,403,282 1,070,334 881,052 798,681 739,961 783,913
Adjusted stockholders’ equity3 4,558,906 3,448,959 2,995,502 2,766,438 2,084,628 1,533,087
Solvency Ratio
Adjusted debt to equity4 0.31 0.31 0.29 0.29 0.35 0.51

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 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 0 ÷ 4,232,081 = 0.00

2 Adjusted total debt. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= 1,403,282 ÷ 4,558,906 = 0.31

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. lululemon athletica inc. adjusted debt-to-equity ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Adjusted Debt to Capital

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Reported
Selected Financial Data (US$ in thousands)
Total debt
Total capital 4,232,081 3,148,799 2,740,046 2,558,566 1,952,218 1,445,975
Solvency Ratio
Debt to capital1 0.00 0.00 0.00 0.00 0.00 0.00
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt2 1,403,282 1,070,334 881,052 798,681 739,961 783,913
Adjusted total capital3 5,962,188 4,519,293 3,876,554 3,565,119 2,824,589 2,317,000
Solvency Ratio
Adjusted debt to capital4 0.24 0.24 0.23 0.22 0.26 0.34

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 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 0 ÷ 4,232,081 = 0.00

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2024 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 1,403,282 ÷ 5,962,188 = 0.24

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. lululemon athletica inc. adjusted debt-to-capital ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Adjusted Financial Leverage

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Reported
Selected Financial Data (US$ in thousands)
Total assets 7,091,941 5,607,038 4,942,478 4,185,215 3,281,354 2,084,711
Stockholders’ equity 4,232,081 3,148,799 2,740,046 2,558,566 1,952,218 1,445,975
Solvency Ratio
Financial leverage1 1.68 1.78 1.80 1.64 1.68 1.44
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total assets2 7,082,765 5,600,636 4,936,387 4,178,484 3,249,919 2,842,075
Adjusted stockholders’ equity3 4,558,906 3,448,959 2,995,502 2,766,438 2,084,628 1,533,087
Solvency Ratio
Adjusted financial leverage4 1.55 1.62 1.65 1.51 1.56 1.85

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 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 7,091,941 ÷ 4,232,081 = 1.68

2 Adjusted total assets. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 7,082,765 ÷ 4,558,906 = 1.55

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.
lululemon athletica inc. adjusted financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.

Adjusted Net Profit Margin

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Reported
Selected Financial Data (US$ in thousands)
Net income 1,550,190 854,800 975,322 588,913 645,596 483,801
Net revenue 9,619,278 8,110,518 6,256,617 4,401,879 3,979,296 3,288,319
Profitability Ratio
Net profit margin1 16.12% 10.54% 15.59% 13.38% 16.22% 14.71%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income2 1,566,772 850,816 1,002,040 705,899 683,218 445,614
Adjusted net revenue3 9,674,279 8,153,801 6,308,964 4,437,314 4,000,297 3,305,063
Profitability Ratio
Adjusted net profit margin4 16.20% 10.43% 15.88% 15.91% 17.08% 13.48%

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 2024 Calculation
Net profit margin = 100 × Net income ÷ Net revenue
= 100 × 1,550,190 ÷ 9,619,278 = 16.12%

2 Adjusted net income. See details »

3 Adjusted net revenue. See details »

4 2024 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Adjusted net revenue
= 100 × 1,566,772 ÷ 9,674,279 = 16.20%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. lululemon athletica inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Reported
Selected Financial Data (US$ in thousands)
Net income 1,550,190 854,800 975,322 588,913 645,596 483,801
Stockholders’ equity 4,232,081 3,148,799 2,740,046 2,558,566 1,952,218 1,445,975
Profitability Ratio
ROE1 36.63% 27.15% 35.60% 23.02% 33.07% 33.46%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income2 1,566,772 850,816 1,002,040 705,899 683,218 445,614
Adjusted stockholders’ equity3 4,558,906 3,448,959 2,995,502 2,766,438 2,084,628 1,533,087
Profitability Ratio
Adjusted ROE4 34.37% 24.67% 33.45% 25.52% 32.77% 29.07%

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 2024 Calculation
ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × 1,550,190 ÷ 4,232,081 = 36.63%

2 Adjusted net income. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted stockholders’ equity
= 100 × 1,566,772 ÷ 4,558,906 = 34.37%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. lululemon athletica inc. adjusted ROE deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Adjusted Return on Assets (ROA)

Microsoft Excel
Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020 Feb 3, 2019
Reported
Selected Financial Data (US$ in thousands)
Net income 1,550,190 854,800 975,322 588,913 645,596 483,801
Total assets 7,091,941 5,607,038 4,942,478 4,185,215 3,281,354 2,084,711
Profitability Ratio
ROA1 21.86% 15.25% 19.73% 14.07% 19.67% 23.21%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income2 1,566,772 850,816 1,002,040 705,899 683,218 445,614
Adjusted total assets3 7,082,765 5,600,636 4,936,387 4,178,484 3,249,919 2,842,075
Profitability Ratio
Adjusted ROA4 22.12% 15.19% 20.30% 16.89% 21.02% 15.68%

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 2024 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 1,550,190 ÷ 7,091,941 = 21.86%

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2024 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 1,566,772 ÷ 7,082,765 = 22.12%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. lululemon athletica inc. adjusted ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.