Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
lululemon athletica inc., solvency ratios
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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | lululemon athletica inc. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | lululemon athletica inc. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | lululemon athletica inc. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | lululemon athletica inc. financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | lululemon athletica inc. fixed charge coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Debt to Equity
lululemon athletica inc., debt to equity calculation, comparison to benchmarks
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | Feb 2, 2020 | Feb 3, 2019 | ||
|---|---|---|---|---|---|---|---|
| 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 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Nike Inc. | 0.62 | 0.64 | 0.62 | 0.74 | 1.20 | 0.38 | |
| Debt to Equity, Sector | |||||||
| Consumer Durables & Apparel | — | 0.52 | 0.52 | 0.61 | 0.97 | 0.33 | |
| Debt to Equity, Industry | |||||||
| Consumer Discretionary | — | 1.37 | 1.54 | 1.52 | 2.37 | 2.78 | |
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 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. |
Debt to Equity (including Operating Lease Liability)
lululemon athletica inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | Feb 2, 2020 | Feb 3, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Total debt | —) | —) | —) | —) | —) | —) | |
| Current operating lease liabilities | 249,270) | 207,972) | 188,996) | 166,091) | 128,497) | —) | |
| Non-current operating lease liabilities | 1,154,012) | 862,362) | 692,056) | 632,590) | 611,464) | —) | |
| Total debt (including operating lease liability) | 1,403,282) | 1,070,334) | 881,052) | 798,681) | 739,961) | —) | |
| Stockholders’ equity | 4,232,081) | 3,148,799) | 2,740,046) | 2,558,566) | 1,952,218) | 1,445,975) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 0.33 | 0.34 | 0.32 | 0.31 | 0.38 | 0.00 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Nike Inc. | 0.83 | 0.87 | 0.83 | 1.00 | 1.62 | 0.38 | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Consumer Durables & Apparel | — | 0.77 | 0.75 | 0.89 | 1.37 | 0.33 | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Consumer Discretionary | — | 1.72 | 1.94 | 1.90 | 2.84 | 3.08 | |
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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 1,403,282 ÷ 4,232,081 = 0.33
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | lululemon athletica inc. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Capital
lululemon athletica inc., debt to capital calculation, comparison to benchmarks
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | Feb 2, 2020 | Feb 3, 2019 | ||
|---|---|---|---|---|---|---|---|
| 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) | |
| 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 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Nike Inc. | 0.38 | 0.39 | 0.38 | 0.42 | 0.55 | 0.28 | |
| Debt to Capital, Sector | |||||||
| Consumer Durables & Apparel | — | 0.34 | 0.34 | 0.38 | 0.49 | 0.25 | |
| Debt to Capital, Industry | |||||||
| Consumer Discretionary | — | 0.58 | 0.61 | 0.60 | 0.70 | 0.74 | |
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 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. |
Debt to Capital (including Operating Lease Liability)
lululemon athletica inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | Feb 2, 2020 | Feb 3, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Total debt | —) | —) | —) | —) | —) | —) | |
| Current operating lease liabilities | 249,270) | 207,972) | 188,996) | 166,091) | 128,497) | —) | |
| Non-current operating lease liabilities | 1,154,012) | 862,362) | 692,056) | 632,590) | 611,464) | —) | |
| Total debt (including operating lease liability) | 1,403,282) | 1,070,334) | 881,052) | 798,681) | 739,961) | —) | |
| Stockholders’ equity | 4,232,081) | 3,148,799) | 2,740,046) | 2,558,566) | 1,952,218) | 1,445,975) | |
| Total capital (including operating lease liability) | 5,635,363) | 4,219,133) | 3,621,098) | 3,357,247) | 2,692,179) | 1,445,975) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.25 | 0.25 | 0.24 | 0.24 | 0.27 | 0.00 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Nike Inc. | 0.45 | 0.46 | 0.45 | 0.50 | 0.62 | 0.28 | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Consumer Durables & Apparel | — | 0.44 | 0.43 | 0.47 | 0.58 | 0.25 | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Consumer Discretionary | — | 0.63 | 0.66 | 0.65 | 0.74 | 0.76 | |
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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 1,403,282 ÷ 5,635,363 = 0.25
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | lululemon athletica inc. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Assets
lululemon athletica inc., debt to assets calculation, comparison to benchmarks
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | Feb 2, 2020 | Feb 3, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Total debt | —) | —) | —) | —) | —) | —) | |
| Total assets | 7,091,941) | 5,607,038) | 4,942,478) | 4,185,215) | 3,281,354) | 2,084,711) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Nike Inc. | 0.23 | 0.24 | 0.23 | 0.25 | 0.31 | 0.15 | |
| Debt to Assets, Sector | |||||||
| Consumer Durables & Apparel | — | 0.21 | 0.21 | 0.22 | 0.28 | 0.13 | |
| Debt to Assets, Industry | |||||||
| Consumer Discretionary | — | 0.34 | 0.35 | 0.36 | 0.41 | 0.45 | |
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 assets = Total debt ÷ Total assets
= 0 ÷ 7,091,941 = 0.00
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. |
Debt to Assets (including Operating Lease Liability)
lululemon athletica inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | Feb 2, 2020 | Feb 3, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Total debt | —) | —) | —) | —) | —) | —) | |
| Current operating lease liabilities | 249,270) | 207,972) | 188,996) | 166,091) | 128,497) | —) | |
| Non-current operating lease liabilities | 1,154,012) | 862,362) | 692,056) | 632,590) | 611,464) | —) | |
| Total debt (including operating lease liability) | 1,403,282) | 1,070,334) | 881,052) | 798,681) | 739,961) | —) | |
| Total assets | 7,091,941) | 5,607,038) | 4,942,478) | 4,185,215) | 3,281,354) | 2,084,711) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.20 | 0.19 | 0.18 | 0.19 | 0.23 | 0.00 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Nike Inc. | 0.31 | 0.32 | 0.31 | 0.34 | 0.42 | 0.15 | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Consumer Durables & Apparel | — | 0.31 | 0.30 | 0.32 | 0.40 | 0.13 | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Consumer Discretionary | — | 0.43 | 0.44 | 0.45 | 0.50 | 0.50 | |
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 assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 1,403,282 ÷ 7,091,941 = 0.20
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | lululemon athletica inc. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024. |
Financial Leverage
lululemon athletica inc., financial leverage calculation, comparison to benchmarks
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | Feb 2, 2020 | Feb 3, 2019 | ||
|---|---|---|---|---|---|---|---|
| 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 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Nike Inc. | 2.64 | 2.68 | 2.64 | 2.96 | 3.89 | 2.62 | |
| Financial Leverage, Sector | |||||||
| Consumer Durables & Apparel | — | 2.51 | 2.51 | 2.74 | 3.46 | 2.46 | |
| Financial Leverage, Industry | |||||||
| Consumer Discretionary | — | 4.00 | 4.38 | 4.26 | 5.72 | 6.22 | |
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 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | lululemon athletica inc. financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024. |
Interest Coverage
lululemon athletica inc., interest coverage calculation, comparison to benchmarks
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | Feb 2, 2020 | Feb 3, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net income | 1,550,190) | 854,800) | 975,322) | 588,913) | 645,596) | 483,801) | |
| Add: Income tax expense | 625,545) | 477,771) | 358,547) | 230,437) | 251,797) | 231,449) | |
| Add: Interest expense | —) | —) | —) | —) | —) | —) | |
| Earnings before interest and tax (EBIT) | 2,175,735) | 1,332,571) | 1,333,869) | 819,350) | 897,393) | 715,250) | |
| Solvency Ratio | |||||||
| Interest coverage1 | — | — | — | — | — | — | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Nike Inc. | 25.91 | 22.31 | 23.24 | 23.50 | 20.12 | 37.65 | |
| Interest Coverage, Sector | |||||||
| Consumer Durables & Apparel | — | 26.89 | 27.71 | 26.27 | 26.06 | 43.11 | |
| Interest Coverage, Industry | |||||||
| Consumer Discretionary | — | 12.27 | 9.45 | 13.29 | 7.81 | 9.65 | |
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
Interest coverage = EBIT ÷ Interest expense
= 2,175,735 ÷ 0 = —
2 Click competitor name to see calculations.
Fixed Charge Coverage
lululemon athletica inc., fixed charge coverage calculation, comparison to benchmarks
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | Feb 2, 2020 | Feb 3, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Net income | 1,550,190) | 854,800) | 975,322) | 588,913) | 645,596) | 483,801) | |
| Add: Income tax expense | 625,545) | 477,771) | 358,547) | 230,437) | 251,797) | 231,449) | |
| Add: Interest expense | —) | —) | —) | —) | —) | —) | |
| Earnings before interest and tax (EBIT) | 2,175,735) | 1,332,571) | 1,333,869) | 819,350) | 897,393) | 715,250) | |
| Add: Operating lease expense | 282,888) | 245,767) | 215,549) | 193,498) | 176,367) | 198,000) | |
| Earnings before fixed charges and tax | 2,458,623) | 1,578,338) | 1,549,418) | 1,012,848) | 1,073,760) | 913,250) | |
| Interest expense | —) | —) | —) | —) | —) | —) | |
| Operating lease expense | 282,888) | 245,767) | 215,549) | 193,498) | 176,367) | 198,000) | |
| Fixed charges | 282,888) | 245,767) | 215,549) | 193,498) | 176,367) | 198,000) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 8.69 | 6.42 | 7.19 | 5.23 | 6.09 | 4.61 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Nike Inc. | 8.55 | 8.08 | 8.46 | 8.53 | 5.01 | 6.00 | |
| Fixed Charge Coverage, Sector | |||||||
| Consumer Durables & Apparel | — | 7.72 | 8.21 | 7.94 | 5.22 | 5.76 | |
| Fixed Charge Coverage, Industry | |||||||
| Consumer Discretionary | — | 4.98 | 3.70 | 5.63 | 3.72 | 4.20 | |
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 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 2,458,623 ÷ 282,888 = 8.69
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | lululemon athletica inc. fixed charge coverage ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |