Stock Analysis on Net

lululemon athletica inc. (NASDAQ:LULU)

Common Stock Valuation Ratios (Price Multiples) 
Quarterly Data

Microsoft Excel

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).


Historical Valuation Ratios (Summary)

lululemon athletica inc., historical price multiples (quarterly data)

Microsoft Excel
Oct 27, 2024 Jul 28, 2024 Apr 28, 2024 Jan 28, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019 Feb 3, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018
Price to earnings (P/E) 24.19 19.48 24.37 38.92 58.61 47.90 43.68 47.65 40.83 34.08 37.85 45.11 61.91 59.82 58.57 70.19 86.35 84.50 69.46 40.49 53.68 45.92 44.06 39.73
Price to operating profit (P/OP) 17.66 14.29 17.81 28.29 38.24 31.18 28.39 30.66 29.76 24.86 27.59 33.00 44.89 43.08 42.10 50.41 61.79 60.82 50.59 29.40 37.79 32.12 30.48 27.23
Price to sales (P/S) 4.12 3.18 3.92 6.27 6.38 5.46 4.91 5.02 6.39 5.32 5.81 7.03 9.20 8.95 8.30 9.39 11.82 11.78 10.42 6.57 8.10 6.85 6.51 5.85
Price to book value (P/BV) 10.54 7.89 9.13 14.26 16.63 13.65 12.57 12.94 15.71 13.14 14.48 16.06 20.28 18.51 15.65 16.16 22.24 22.78 21.85 13.39 18.43 16.28 16.29 13.29 12.37 13.74 8.71

Based on: 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. lululemon athletica inc. P/E ratio decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 not reaching Q1 2025 level.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. lululemon athletica inc. P/OP ratio decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 not reaching Q1 2025 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. lululemon athletica inc. P/S ratio decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 exceeding Q1 2025 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. lululemon athletica inc. P/BV ratio decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 exceeding Q1 2025 level.

Price to Earnings (P/E)

lululemon athletica inc., historical P/E calculation (quarterly data)

Microsoft Excel
Oct 27, 2024 Jul 28, 2024 Apr 28, 2024 Jan 28, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019 Feb 3, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018
No. shares of common stock outstanding1 121,783,525 122,776,511 125,002,362 126,008,093 126,190,747 126,541,244 127,065,432 127,164,641 127,514,737 127,506,364 127,642,807 127,913,369 129,293,915 129,813,541 130,155,271 130,367,628 130,338,045 130,313,305 130,207,015 130,165,083 130,294,907 130,275,632 130,275,563 130,949,856 132,403,995 132,370,974 135,690,888
Selected Financial Data (US$)
Net income (in thousands) 351,870 392,922 321,421 669,468 248,714 341,603 290,405 119,811 255,470 289,521 189,998 434,504 187,788 208,074 144,956 329,837 143,643 86,801 28,632 298,021 125,982 124,990 96,603 218,465 94,413 95,770 75,153
Earnings per share (EPS)2 14.25 13.30 12.65 12.30 7.93 7.96 7.52 6.72 9.17 8.64 7.99 7.62 6.73 6.37 5.42 4.52 4.27 4.14 4.44 4.96 4.34 4.10 3.88 3.69 0.00 0.00 0.00
Share price1, 3 344.81 259.01 308.27 478.84 464.67 381.26 328.35 320.31 374.51 294.45 302.58 343.97 416.92 380.85 317.36 317.09 369.07 349.80 308.12 200.80 233.19 188.41 170.89 146.80 131.44 137.00 105.05
Valuation Ratio
P/E ratio4 24.19 19.48 24.37 38.92 58.61 47.90 43.68 47.65 40.83 34.08 37.85 45.11 61.91 59.82 58.57 70.19 86.35 84.50 69.46 40.49 53.68 45.92 44.06 39.73
Benchmarks
P/E Ratio, Competitors5
Nike Inc. 22.70 18.78 25.70 29.19 29.25 32.45 33.73 33.20 25.01 28.96 34.04 41.28 38.89 44.12 61.08 78.79 75.70 60.47 30.31 34.67 33.76 33.72

Based on: 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).

1 Data adjusted for splits and stock dividends.

2 Q3 2025 Calculation
EPS = (Net incomeQ3 2025 + Net incomeQ2 2025 + Net incomeQ1 2025 + Net incomeQ4 2024) ÷ No. shares of common stock outstanding
= (351,870,000 + 392,922,000 + 321,421,000 + 669,468,000) ÷ 121,783,525 = 14.25

3 Closing price as at the filing date of lululemon athletica inc. Quarterly or Annual Report.

4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= 344.81 ÷ 14.25 = 24.19

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. lululemon athletica inc. P/E ratio decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 not reaching Q1 2025 level.

Price to Operating Profit (P/OP)

lululemon athletica inc., historical P/OP calculation (quarterly data)

Microsoft Excel
Oct 27, 2024 Jul 28, 2024 Apr 28, 2024 Jan 28, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019 Feb 3, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018
No. shares of common stock outstanding1 121,783,525 122,776,511 125,002,362 126,008,093 126,190,747 126,541,244 127,065,432 127,164,641 127,514,737 127,506,364 127,642,807 127,913,369 129,293,915 129,813,541 130,155,271 130,367,628 130,338,045 130,313,305 130,207,015 130,165,083 130,294,907 130,275,632 130,275,563 130,949,856 132,403,995 132,370,974 135,690,888
Selected Financial Data (US$)
Income from operations (in thousands) 490,661 540,226 432,642 913,890 338,115 479,257 401,414 314,426 352,427 401,208 260,347 590,556 257,947 291,031 193,821 457,906 204,920 124,409 32,751 416,487 175,829 167,982 128,812 331,420 135,903 134,208 104,305
Operating profit per share2 19.52 18.12 17.31 16.92 12.15 12.23 11.56 10.45 12.58 11.84 10.97 10.42 9.29 8.84 7.54 6.29 5.97 5.75 6.09 6.83 6.17 5.87 5.61 5.39 0.00 0.00 0.00
Share price1, 3 344.81 259.01 308.27 478.84 464.67 381.26 328.35 320.31 374.51 294.45 302.58 343.97 416.92 380.85 317.36 317.09 369.07 349.80 308.12 200.80 233.19 188.41 170.89 146.80 131.44 137.00 105.05
Valuation Ratio
P/OP ratio4 17.66 14.29 17.81 28.29 38.24 31.18 28.39 30.66 29.76 24.86 27.59 33.00 44.89 43.08 42.10 50.41 61.79 60.82 50.59 29.40 37.79 32.12 30.48 27.23
Benchmarks
P/OP Ratio, Competitors5
Nike Inc. 20.34 16.97 22.46 25.51 25.38 27.81 29.99 29.32 22.59 26.23 29.24 35.52 32.43 36.42 50.02 60.21 61.00 49.29 25.26 30.26 29.17 28.47

Based on: 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).

1 Data adjusted for splits and stock dividends.

2 Q3 2025 Calculation
Operating profit per share = (Income from operationsQ3 2025 + Income from operationsQ2 2025 + Income from operationsQ1 2025 + Income from operationsQ4 2024) ÷ No. shares of common stock outstanding
= (490,661,000 + 540,226,000 + 432,642,000 + 913,890,000) ÷ 121,783,525 = 19.52

3 Closing price as at the filing date of lululemon athletica inc. Quarterly or Annual Report.

4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 344.81 ÷ 19.52 = 17.66

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. lululemon athletica inc. P/OP ratio decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 not reaching Q1 2025 level.

Price to Sales (P/S)

lululemon athletica inc., historical P/S calculation (quarterly data)

Microsoft Excel
Oct 27, 2024 Jul 28, 2024 Apr 28, 2024 Jan 28, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019 Feb 3, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018
No. shares of common stock outstanding1 121,783,525 122,776,511 125,002,362 126,008,093 126,190,747 126,541,244 127,065,432 127,164,641 127,514,737 127,506,364 127,642,807 127,913,369 129,293,915 129,813,541 130,155,271 130,367,628 130,338,045 130,313,305 130,207,015 130,165,083 130,294,907 130,275,632 130,275,563 130,949,856 132,403,995 132,370,974 135,690,888
Selected Financial Data (US$)
Net revenue (in thousands) 2,396,660 2,371,078 2,208,891 3,205,103 2,204,218 2,209,165 2,000,792 2,771,838 1,856,889 1,868,328 1,613,463 2,129,113 1,450,421 1,450,618 1,226,465 1,729,549 1,117,426 902,942 651,962 1,397,491 916,138 883,352 782,315 1,167,458 747,655 723,500 649,706
Sales per share2 83.61 81.36 78.62 76.34 72.79 69.85 66.88 63.78 58.56 55.38 52.05 48.91 45.30 42.55 38.23 33.77 31.23 29.69 29.56 30.57 28.78 27.49 26.26 25.11 0.00 0.00 0.00
Share price1, 3 344.81 259.01 308.27 478.84 464.67 381.26 328.35 320.31 374.51 294.45 302.58 343.97 416.92 380.85 317.36 317.09 369.07 349.80 308.12 200.80 233.19 188.41 170.89 146.80 131.44 137.00 105.05
Valuation Ratio
P/S ratio4 4.12 3.18 3.92 6.27 6.38 5.46 4.91 5.02 6.39 5.32 5.81 7.03 9.20 8.95 8.30 9.39 11.82 11.78 10.42 6.57 8.10 6.85 6.51 5.85
Benchmarks
P/S Ratio, Competitors5
Nike Inc. 2.41 2.08 2.61 3.00 2.87 3.21 3.65 3.81 2.99 3.75 4.45 5.50 5.12 5.67 5.44 5.82 5.45 4.11 3.17 3.89 3.65 3.47

Based on: 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).

1 Data adjusted for splits and stock dividends.

2 Q3 2025 Calculation
Sales per share = (Net revenueQ3 2025 + Net revenueQ2 2025 + Net revenueQ1 2025 + Net revenueQ4 2024) ÷ No. shares of common stock outstanding
= (2,396,660,000 + 2,371,078,000 + 2,208,891,000 + 3,205,103,000) ÷ 121,783,525 = 83.61

3 Closing price as at the filing date of lululemon athletica inc. Quarterly or Annual Report.

4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 344.81 ÷ 83.61 = 4.12

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. lululemon athletica inc. P/S ratio decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 exceeding Q1 2025 level.

Price to Book Value (P/BV)

lululemon athletica inc., historical P/BV calculation (quarterly data)

Microsoft Excel
Oct 27, 2024 Jul 28, 2024 Apr 28, 2024 Jan 28, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019 Feb 3, 2019 Oct 28, 2018 Jul 29, 2018 Apr 29, 2018
No. shares of common stock outstanding1 121,783,525 122,776,511 125,002,362 126,008,093 126,190,747 126,541,244 127,065,432 127,164,641 127,514,737 127,506,364 127,642,807 127,913,369 129,293,915 129,813,541 130,155,271 130,367,628 130,338,045 130,313,305 130,207,015 130,165,083 130,294,907 130,275,632 130,275,563 130,949,856 132,403,995 132,370,974 135,690,888
Selected Financial Data (US$)
Stockholders’ equity (in thousands) 3,985,732 4,031,645 4,219,808 4,232,081 3,525,849 3,533,482 3,320,076 3,148,799 3,039,204 2,857,798 2,668,050 2,740,046 2,658,455 2,671,166 2,639,855 2,558,566 2,162,953 2,001,102 1,835,787 1,952,218 1,648,736 1,507,379 1,366,720 1,445,975 1,406,757 1,320,215 1,636,234
Book value per share (BVPS)2 32.73 32.84 33.76 33.59 27.94 27.92 26.13 24.76 23.83 22.41 20.90 21.42 20.56 20.58 20.28 19.63 16.59 15.36 14.10 15.00 12.65 11.57 10.49 11.04 10.62 9.97 12.06
Share price1, 3 344.81 259.01 308.27 478.84 464.67 381.26 328.35 320.31 374.51 294.45 302.58 343.97 416.92 380.85 317.36 317.09 369.07 349.80 308.12 200.80 233.19 188.41 170.89 146.80 131.44 137.00 105.05
Valuation Ratio
P/BV ratio4 10.54 7.89 9.13 14.26 16.63 13.65 12.57 12.94 15.71 13.14 14.48 16.06 20.28 18.51 15.65 16.16 22.24 22.78 21.85 13.39 18.43 16.28 16.29 13.29 12.37 13.74 8.71
Benchmarks
P/BV Ratio, Competitors5
Nike Inc. 8.63 7.42 9.45 10.93 10.58 11.75 12.72 12.25 8.92 11.46 14.06 17.06 16.49 19.79 17.55 20.93 22.08 19.06 14.47 16.95 15.79 15.03 14.96 13.83 14.15

Based on: 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).

1 Data adjusted for splits and stock dividends.

2 Q3 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 3,985,732,000 ÷ 121,783,525 = 32.73

3 Closing price as at the filing date of lululemon athletica inc. Quarterly or Annual Report.

4 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 344.81 ÷ 32.73 = 10.54

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. lululemon athletica inc. P/BV ratio decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 exceeding Q1 2025 level.