Stock Analysis on Net

lululemon athletica inc. (NASDAQ:LULU)

Analysis of Reportable Segments

Microsoft Excel

lululemon athletica inc. operates in 3 segments: Americas; China Mainland; and Rest of World.


Segment Profit Margin

lululemon athletica inc., profit margin by reportable segment

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Americas 38.04% 38.49% 36.73% 35.23%
China Mainland 37.45% 35.00% 34.15% 38.53%
Rest of World 24.25% 19.71% 14.40% 12.95%

Based on: 10-K (reporting date: 2025-02-02), 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).

Segment profitability ratio Reportable segment The company
Segment profit margin Americas Americas segment profit margin ratio improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.
China Mainland China Mainland segment profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.
Rest of World Rest of World segment profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.

Segment Profit Margin: Americas

lululemon athletica inc.; Americas; segment profit margin calculation

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Selected Financial Data (US$ in thousands)
Income from operations 3,015,557 2,937,184 2,503,740 1,867,016
Net revenue 7,928,156 7,631,647 6,817,454 5,299,906
Segment Profitability Ratio
Segment profit margin1 38.04% 38.49% 36.73% 35.23%

Based on: 10-K (reporting date: 2025-02-02), 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).

1 2025 Calculation
Segment profit margin = 100 × Income from operations ÷ Net revenue
= 100 × 3,015,557 ÷ 7,928,156 = 38.04%

Segment profitability ratio Reportable segment The company
Segment profit margin Americas Americas segment profit margin ratio improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.

Segment Profit Margin: China Mainland

lululemon athletica inc.; China Mainland; segment profit margin calculation

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Selected Financial Data (US$ in thousands)
Income from operations 509,859 337,316 196,865 167,318
Net revenue 1,361,337 963,760 576,503 434,261
Segment Profitability Ratio
Segment profit margin1 37.45% 35.00% 34.15% 38.53%

Based on: 10-K (reporting date: 2025-02-02), 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).

1 2025 Calculation
Segment profit margin = 100 × Income from operations ÷ Net revenue
= 100 × 509,859 ÷ 1,361,337 = 37.45%

Segment profitability ratio Reportable segment The company
Segment profit margin China Mainland China Mainland segment profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.

Segment Profit Margin: Rest of World

lululemon athletica inc.; Rest of World; segment profit margin calculation

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Selected Financial Data (US$ in thousands)
Income from operations 314,946 201,832 103,204 67,674
Net revenue 1,298,633 1,023,871 716,561 522,450
Segment Profitability Ratio
Segment profit margin1 24.25% 19.71% 14.40% 12.95%

Based on: 10-K (reporting date: 2025-02-02), 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).

1 2025 Calculation
Segment profit margin = 100 × Income from operations ÷ Net revenue
= 100 × 314,946 ÷ 1,298,633 = 24.25%

Segment profitability ratio Reportable segment The company
Segment profit margin Rest of World Rest of World segment profit margin ratio improved from 2023 to 2024 and from 2024 to 2025.

Net revenue

lululemon athletica inc., net revenue by reportable segment

US$ in thousands

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Americas 7,928,156 7,631,647 6,817,454 5,299,906
China Mainland 1,361,337 963,760 576,503 434,261
Rest of World 1,298,633 1,023,871 716,561 522,450
Total segments 10,588,126 9,619,278 8,110,518 6,256,617

Based on: 10-K (reporting date: 2025-02-02), 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).


Income from operations

lululemon athletica inc., income from operations by reportable segment

US$ in thousands

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Americas 3,015,557 2,937,184 2,503,740 1,867,016
China Mainland 509,859 337,316 196,865 167,318
Rest of World 314,946 201,832 103,204 67,674
Total segments 3,840,362 3,476,332 2,803,809 2,102,008

Based on: 10-K (reporting date: 2025-02-02), 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).