LULU
Lululemon Athletica Inc.
LULU's fundamentals are mixed, but it looks cheap: trading at 8.6x earnings, less than half its usual 41x. Analysts expect earnings to decline, though they disagree widely on how much.
LULU Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
LULU's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
LULU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 8.6x | $104 | — |
| Forward | 13x | $104 | — |
| Cheap | 14x | $167 | +60% |
| Fair | 40x | $490 | +369% |
| Expensive | 69x | $834 | +699% |
Historical ranges are pointers, not guarantees.
LULU's PE is in its cheap range at 8.6x. Analysts expect earnings to fall, which would put today's price at 13x next year's earnings.
LULU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Decline | |
| Decline | |
| Weakening | |
| Broad | |
| Low |
Analysts expect LULU's earnings and revenue to decline, with profitability weakening. However, they disagree widely on these estimates.
LULU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.19 | -33% |
| Q3 2026 | $12.17 | -17% |
| Q2 2026 | $12.35 | -16% |
| Q1 2026 | $13.26 | -9.4% |
| Q4 2025 | $14.37 | +3.8% |
| Q3 2025 | $14.65 | +13% |
| Q2 2025 | $14.70 | +18% |
| Q1 2025 | $14.64 | +20% |
| Q4 2024 | $13.84 | +76% |
LULU earned $12.17 per share over the past year, down 17% from the year before.
LULU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.4B | -4.3% |
| Q2 2026 | $2.5B | +4.3% |
| Q1 2026 | $3.6B | +0.8% |
| Q4 2025 | $2.6B | +7.1% |
| Q3 2025 | $2.5B | +6.5% |
| Q2 2025 | $2.4B | +7.3% |
| Q1 2025 | $3.6B | +13% |
| Q4 2024 | $2.4B | +8.7% |
LULU's revenue has held roughly level: $2.4B last quarter, down 4.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | -2 points |
| Q2 2026 | 11% | -7.3 points |
| Q1 2026 | 22% | -6.6 points |
| Q4 2025 | 17% | -3.5 points |
| Q3 2025 | 21% | -2 points |
| Q2 2025 | 19% | -1.1 points |
| Q1 2025 | 29% | +0.3 points |
| Q4 2024 | 20% | +5.1 points |
LULU's operating margin was 19% last quarter, down 2 points from the same quarter a year ago.
LULU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $225.2M | +49% |
| Q2 2026 | $87.1M | +$358.3M |
| Q1 2026 | $959.7M | -18% |
| Q4 2025 | $82.4M | -33% |
| Q3 2025 | $150.8M | -49% |
| Q2 2025 | -$271.2M | -$268.1M |
| Q1 2025 | $1.2B | -0.9% |
| Q4 2024 | $122.2M | -46% |
LULU generated $1.4B in free cash flow over the past year, up 16% from the year before.
LULU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.2% | -2.6M shares |
| 1 year | -5.6% | -6.8M shares |
| 3 years | -11% | -14.3M shares |
| 5 years | -13% | -17.6M shares |
| Available history | -14% | -17.9M shares |
LULU has 113M diluted shares, down 5.6% from a year ago, with $1.2B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $333.3M |
| Q2 2026 | $361.8M |
| Q1 2026 | $271.8M |
| Q4 2025 | $190.9M |
| Q3 2025 | $281.2M |
| Q2 2025 | $434.4M |
| Q1 2025 | $335.4M |
| Q4 2024 | $412.6M |
LULU spent $1.2B buying back its own shares over the past year, down 21% from the year before.
LULU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.6x | Net Cash |
| Q2 2026 | -0.6x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | -0.4x | Net Cash |
| Q3 2025 | -0.4x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.7x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
LULU has more cash than debt.
LULU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.4 | Neutral |
| Stochastic | 44.5 | Neutral |
LULU's weekly RSI is 41 (neutral) and its Stochastic is 45 (neutral).
LULU PE vs Consumer Cyclical Sector
| Metric | LULU | Sector median | Relative |
|---|---|---|---|
| PE | 8.6x | 18x | 52% below |
| PE % | 2 | 47 | 45 pts below |
LULU is trading at 8.6x earnings, a 52% discount to the Consumer Cyclical sector's median of 18x.
LULU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $101.1 | 3.3% above |
| 20 week MA | $109.2 | 4.3% below |
| 50 week MA | $141.5 | 26% below |
| 100 week MA | $202.2 | 48% below |
| 200 week MA | $281.9 | 63% below |
LULU has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 63% below its 200-week average.
LULU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $230.0 | $351.4 | +53% |
| 2021 | $351.4 | $391.6 | +11% |
| 2022 | $391.6 | $311.5 | -20% |
| 2023 | $311.5 | $511.3 | +64% |
| 2024 | $511.3 | $386.7 | -24% |
| 2025 | $386.7 | $209.0 | -46% |
| 2026 YTD | $209.0 | $104.5 | -50% |
LULU has finished lower in three of the last six years. It's down 50% so far in 2026.