Stock Analysis on Net

lululemon athletica inc. (NASDAQ:LULU)

Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel

Short-term Activity Ratios (Summary)

lululemon athletica inc., short-term (operating) activity ratios

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Turnover Ratios
Inventory turnover 2.99 3.03 2.50 2.74 2.99 3.39
Receivables turnover 88.11 77.10 61.02 81.25 70.54 98.94
Payables turnover 15.91 11.51 20.95 9.14 11.25 21.95
Working capital turnover 4.95 3.96 4.86 5.17 3.55 3.35
Average No. Days
Average inventory processing period 122 120 146 133 122 108
Add: Average receivable collection period 4 5 6 4 5 4
Operating cycle 126 125 152 137 127 112
Less: Average payables payment period 23 32 17 40 32 17
Cash conversion cycle 103 93 135 97 95 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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. lululemon athletica inc. inventory turnover ratio improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.
Receivables turnover An activity ratio equal to revenue divided by receivables. lululemon athletica inc. receivables turnover ratio improved from 2023 to 2024 and from 2024 to 2025.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. lululemon athletica inc. payables turnover ratio decreased from 2023 to 2024 but then slightly increased from 2024 to 2025.
Working capital turnover An activity ratio calculated as revenue divided by working capital. lululemon athletica inc. working capital turnover ratio deteriorated from 2023 to 2024 but then improved from 2024 to 2025 exceeding 2023 level.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. lululemon athletica inc. number of days of inventory outstanding improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. lululemon athletica inc. number of days of receivables outstanding improved from 2023 to 2024 and from 2024 to 2025.
Operating cycle Equal to average inventory processing period plus average receivables collection period. lululemon athletica inc. operating cycle improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. lululemon athletica inc. number of days of payables outstanding increased from 2023 to 2024 but then slightly decreased from 2024 to 2025 not reaching 2023 level.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. lululemon athletica inc. cash conversion cycle improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.

Inventory Turnover

lululemon athletica inc., inventory turnover calculation, comparison to benchmarks

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)
Cost of goods sold 4,317,315 4,009,873 3,618,178 2,648,052 1,937,888 1,755,910
Inventories 1,442,081 1,323,602 1,447,367 966,481 647,230 518,513
Short-term Activity Ratio
Inventory turnover1 2.99 3.03 2.50 2.74 2.99 3.39
Benchmarks
Inventory Turnover, Competitors2
Nike Inc. 3.79 3.42 3.00 3.59 2.87
Inventory Turnover, Sector
Consumer Durables & Apparel 3.67 3.29 2.97 3.53 2.91
Inventory Turnover, Industry
Consumer Discretionary 7.78 6.99 6.67 7.04 7.48

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
Inventory turnover = Cost of goods sold ÷ Inventories
= 4,317,315 ÷ 1,442,081 = 2.99

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. lululemon athletica inc. inventory turnover ratio improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.

Receivables Turnover

lululemon athletica inc., receivables turnover calculation, comparison to benchmarks

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)
Net revenue 10,588,126 9,619,278 8,110,518 6,256,617 4,401,879 3,979,296
Accounts receivable, net 120,173 124,769 132,906 77,001 62,399 40,219
Short-term Activity Ratio
Receivables turnover1 88.11 77.10 61.02 81.25 70.54 98.94
Benchmarks
Receivables Turnover, Competitors2
Nike Inc. 11.60 12.40 10.01 9.98 13.61
Receivables Turnover, Sector
Consumer Durables & Apparel 13.40 13.91 11.16 10.81 14.84
Receivables Turnover, Industry
Consumer Discretionary 18.67 17.85 17.96 21.22 21.85

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
Receivables turnover = Net revenue ÷ Accounts receivable, net
= 10,588,126 ÷ 120,173 = 88.11

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. lululemon athletica inc. receivables turnover ratio improved from 2023 to 2024 and from 2024 to 2025.

Payables Turnover

lululemon athletica inc., payables turnover calculation, comparison to benchmarks

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)
Cost of goods sold 4,317,315 4,009,873 3,618,178 2,648,052 1,937,888 1,755,910
Accounts payable 271,406 348,441 172,732 289,728 172,246 79,997
Short-term Activity Ratio
Payables turnover1 15.91 11.51 20.95 9.14 11.25 21.95
Benchmarks
Payables Turnover, Competitors2
Nike Inc. 9.99 10.11 7.51 8.67 9.41
Payables Turnover, Sector
Consumer Durables & Apparel 10.15 10.72 7.64 8.81 9.84
Payables Turnover, Industry
Consumer Discretionary 5.36 5.18 4.80 4.66 4.74

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
Payables turnover = Cost of goods sold ÷ Accounts payable
= 4,317,315 ÷ 271,406 = 15.91

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. lululemon athletica inc. payables turnover ratio decreased from 2023 to 2024 but then slightly increased from 2024 to 2025.

Working Capital Turnover

lululemon athletica inc., working capital turnover calculation, comparison to benchmarks

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)
Current assets 3,980,302 4,060,577 3,159,453 2,614,853 2,124,379 1,807,938
Less: Current liabilities 1,839,630 1,631,261 1,492,198 1,405,334 883,178 620,418
Working capital 2,140,672 2,429,316 1,667,255 1,209,519 1,241,201 1,187,520
 
Net revenue 10,588,126 9,619,278 8,110,518 6,256,617 4,401,879 3,979,296
Short-term Activity Ratio
Working capital turnover1 4.95 3.96 4.86 5.17 3.55 3.35
Benchmarks
Working Capital Turnover, Competitors2
Nike Inc. 3.47 3.21 2.67 2.68 3.05
Working Capital Turnover, Sector
Consumer Durables & Apparel 3.54 3.37 2.83 2.74 3.07
Working Capital Turnover, Industry
Consumer Discretionary 13.56 14.99 18.57 11.02 13.68

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
Working capital turnover = Net revenue ÷ Working capital
= 10,588,126 ÷ 2,140,672 = 4.95

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. lululemon athletica inc. working capital turnover ratio deteriorated from 2023 to 2024 but then improved from 2024 to 2025 exceeding 2023 level.

Average Inventory Processing Period

lululemon athletica inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Selected Financial Data
Inventory turnover 2.99 3.03 2.50 2.74 2.99 3.39
Short-term Activity Ratio (no. days)
Average inventory processing period1 122 120 146 133 122 108
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Nike Inc. 96 107 122 102 127
Average Inventory Processing Period, Sector
Consumer Durables & Apparel 99 111 123 103 126
Average Inventory Processing Period, Industry
Consumer Discretionary 47 52 55 52 49

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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 2.99 = 122

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. lululemon athletica inc. number of days of inventory outstanding improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.

Average Receivable Collection Period

lululemon athletica inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Selected Financial Data
Receivables turnover 88.11 77.10 61.02 81.25 70.54 98.94
Short-term Activity Ratio (no. days)
Average receivable collection period1 4 5 6 4 5 4
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Nike Inc. 31 29 36 37 27
Average Receivable Collection Period, Sector
Consumer Durables & Apparel 27 26 33 34 25
Average Receivable Collection Period, Industry
Consumer Discretionary 20 20 20 17 17

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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 88.11 = 4

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. lululemon athletica inc. number of days of receivables outstanding improved from 2023 to 2024 and from 2024 to 2025.

Operating Cycle

lululemon athletica inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Selected Financial Data
Average inventory processing period 122 120 146 133 122 108
Average receivable collection period 4 5 6 4 5 4
Short-term Activity Ratio
Operating cycle1 126 125 152 137 127 112
Benchmarks
Operating Cycle, Competitors2
Nike Inc. 127 136 158 139 154
Operating Cycle, Sector
Consumer Durables & Apparel 126 137 156 137 151
Operating Cycle, Industry
Consumer Discretionary 67 72 75 69 66

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
Operating cycle = Average inventory processing period + Average receivable collection period
= 122 + 4 = 126

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. lululemon athletica inc. operating cycle improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.

Average Payables Payment Period

lululemon athletica inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Selected Financial Data
Payables turnover 15.91 11.51 20.95 9.14 11.25 21.95
Short-term Activity Ratio (no. days)
Average payables payment period1 23 32 17 40 32 17
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Nike Inc. 37 36 49 42 39
Average Payables Payment Period, Sector
Consumer Durables & Apparel 36 34 48 41 37
Average Payables Payment Period, Industry
Consumer Discretionary 68 70 76 78 77

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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 15.91 = 23

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. lululemon athletica inc. number of days of payables outstanding increased from 2023 to 2024 but then slightly decreased from 2024 to 2025 not reaching 2023 level.

Cash Conversion Cycle

lululemon athletica inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Feb 2, 2025 Jan 28, 2024 Jan 29, 2023 Jan 30, 2022 Jan 31, 2021 Feb 2, 2020
Selected Financial Data
Average inventory processing period 122 120 146 133 122 108
Average receivable collection period 4 5 6 4 5 4
Average payables payment period 23 32 17 40 32 17
Short-term Activity Ratio
Cash conversion cycle1 103 93 135 97 95 95
Benchmarks
Cash Conversion Cycle, Competitors2
Nike Inc. 90 100 109 97 115
Cash Conversion Cycle, Sector
Consumer Durables & Apparel 90 103 108 96 114
Cash Conversion Cycle, Industry
Consumer Discretionary -1 2 -1 -9 -11

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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 122 + 423 = 103

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. lululemon athletica inc. cash conversion cycle improved from 2023 to 2024 but then slightly deteriorated from 2024 to 2025.