lululemon athletica inc., FCFE calculation

US$ in thousands

12 months ended:	Feb 2, 2025	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020
Net income	1,814,616)	1,550,190)	854,800)	975,322)	588,913)	645,596)
Net noncash charges	509,992)	546,751)	771,583)	284,655)	261,972)	217,791)
Changes in operating assets and liabilities	(51,895)	199,223)	(659,920)	129,131)	(47,549)	(194,071)
Net cash provided by operating activities	2,272,713)	2,296,164)	966,463)	1,389,108)	803,336)	669,316)
Purchase of property and equipment	(689,232)	(651,865)	(638,657)	(394,502)	(229,226)	(283,048)
Free cash flow to equity (FCFE)	1,583,481)	1,644,299)	327,806)	994,606)	574,110)	386,268)

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).

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Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to lululemon athletica inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	lululemon athletica inc. FCFE increased from 2023 to 2024 but then slightly decreased from 2024 to 2025.

lululemon athletica inc., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding	120,637,192
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)	1,583,481)
FCFE per share	13.13
Current share price (P)	293.06
Valuation Ratio
P/FCFE	22.33
Benchmarks
P/FCFE, Competitors¹
Nike Inc.	14.15
P/FCFE, Sector
Consumer Durables & Apparel	15.61
P/FCFE, Industry
Consumer Discretionary	32.69

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

¹ Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

lululemon athletica inc., historical P/FCFE calculation, comparison to benchmarks

	Feb 2, 2025	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020
No. shares of common stock outstanding¹	120,637,192	126,008,093	127,164,641	127,913,369	130,367,628	130,165,083
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)²	1,583,481)	1,644,299)	327,806)	994,606)	574,110)	386,268)
FCFE per share³	13.13	13.05	2.58	7.78	4.40	2.97
Share price^1, 4	341.53	478.84	320.31	343.97	317.09	200.80
Valuation Ratio
P/FCFE⁵	26.02	36.70	124.26	44.24	72.00	67.67
Benchmarks
P/FCFE, Competitors⁶
Nike Inc.	—	16.18	37.66	39.39	44.23	20.27
P/FCFE, Sector
Consumer Durables & Apparel	—	20.26	43.71	40.28	46.76	22.57
P/FCFE, Industry
Consumer Discretionary	—	39.60	30.84	36.19	82.92	32.04

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 Data adjusted for splits and stock dividends.

² See details »

³ 2025 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 1,583,481,000 ÷ 120,637,192 = 13.13

⁴ Closing price as at the filing date of lululemon athletica inc. Annual Report.

⁵ 2025 Calculation
P/FCFE = Share price ÷ FCFE per share
= 341.53 ÷ 13.13 = 26.02

⁶ Click competitor name to see calculations.

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Valuation ratio	Description	The company
P/FCFE	Price to free cash flow to equity is cash valuation indicator of stockholders’ equity.	lululemon athletica inc. P/FCFE ratio decreased from 2023 to 2024 and from 2024 to 2025.

lululemon athletica inc. (NASDAQ:LULU)

Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)

Price to FCFE Ratio, Current

Price to FCFE Ratio, Historical