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Screener / SEC EDGAR /CIK 0001397187 /10-K filed Mar 17, 2026, compared with Mar 27, 2025 /Numbers from the XBRL of the 10-Ks
Consumer discretionary peers:
EBAYLULUCMGNCLHHLTNVR
Nasdaq Consumer discretionary · Apparel

Lululemon Athletica LULU

LULU quote by TradingView

lululemon athletica inc. is principally a designer, distributor, and retailer of technical athletic apparel, footwear, and accessories. 10-K, Item 1

Employees
39,000
Headquarters
Vancouver, A1
CEO
Calvin McDonald
Next results
around Dec 10, 2026
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $11.1B through the costs to a net profit of $1.6B · income statement of the 10-K

20% operating margin
Revenue to Gross profit: $6.3BRevenue to Cost of revenue: $4.8BGross profit to Operating profit: $2.2BGross profit to Operating expenses: $4.1BOperating profit to Net profit: $1.6BOperating profit to Tax & other: $631.4M Revenue: $11.1B REVENUE $11.1B +5% Y/Y Gross profit: $6.3B · 57% margin GROSS PROFIT $6.3B 57% margin · +0% Y/Y Cost of revenue: $4.8B · 43% of revenue COST OF REVENUE $4.8B 43% of revenue Operating profit: $2.2B · 20% margin OPERATING PROFIT $2.2B 20% margin · −12% Y/Y Operating expenses: $4.1B · 37% of revenue OPERATING EXPENSES $4.1B 37% of revenue Net profit: $1.6B · 14% margin NET PROFIT $1.6B 14% margin · −13% Y/Y Tax & other: $631.4M · 6% of revenue TAX & OTHER $631.4M 6% of revenue
Gross profit $6.3B 57% margin · +0% Y/Y
Operating profit $2.2B 20% margin · −12% Y/Y
Net profit $1.6B 14% margin · −13% Y/Y
The full income statement, year by year

LULU among Consumer discretionary peers

Six ratios from the latest 10-K. Each corner is the share of 46 peers the company is above, not a score.

Compare
Revenue growth: 4.9%, above 46% of 46 peers (their median 5.9%) REVENUE GROWTH 4.9% · above 46% Gross margin: 56.1%, above 73% of 30 peers (their median 40.7%) GROSS MARGIN 56.1% · above 73% Operating margin: 17.8%, above 59% of 39 peers (their median 15.8%) OPERATING MARGIN 17.8% · above 59% Net margin: 12.8%, above 67% of 46 peers (their median 10.8%) NET MARGIN 12.8% · above 67% FCF margin: 12.2%, above 66% of 44 peers (their median 9.2%) FCF MARGIN 12.2% · above 66% Return on capital: 32.5%, above 79% of 24 peers (their median 22.1%) RETURN ON CAPITAL 32.5% · above 79%
LULU Peer median Below the median

What changed

21 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Mar 17, 2026 against Mar 27, 2025.

Risk factors
21 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +58.7% vs revenue +4.9% (+53.8 pts)
10-K · XBRL
Inventory growing faster than revenue
Inventory +17.9% vs revenue +4.9% (+13.1 pts)
10-K · XBRL
Accounting checks
9 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
1 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 9 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +58.7% vs revenue +4.9% (+53.8 pts)
  • Inventory growing faster than revenue
    Inventory +17.9% vs revenue +4.9% (+13.1 pts)
  • Cash from operations $1.6B vs net income $1.6B (FY ending Feb 1, 2026)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Inventory provision
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

21 paragraphs in Risk Factors that were not in the 10-K filed Mar 27, 2025. Quoted as filed.

All 21 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Mar 27, 2025 10-K, ITEM 1A
    Our Chief Executive Officer stepped down effective January 31, 2026, and we appointed interim co-Chief Executive Officers to lead during a transition period while we conduct a search for a permanent Chief Executive Officer. In addition, we have had other recent changes at the senior executive level. These changes may create uncertainty…
  2. Item 1A · new paragraph · not in the 10-K filed Mar 27, 2025 10-K, ITEM 1A
    Changes to U.S. tariff and customs policy, including the elimination of the de minimis exemption, have and may further materially increase product costs and negatively affect margins. As a result of the increased tariffs since April 2025, the cost of inventory in the United States has increased. The United States also eliminated the de…
  3. Item 1A · new paragraph · not in the 10-K filed Mar 27, 2025 10-K, ITEM 1A
    The fluctuating cost of raw materials and the cost of producing our products could increase our cost of goods sold.
  4. Item 1A · new paragraph · not in the 10-K filed Mar 27, 2025 10-K, ITEM 1A
    We are subject to an evolving cybersecurity, privacy, and AI regulatory environment, and failure to comply with new or existing requirements, including federal cybersecurity incident disclosure obligations, could result in regulatory enforcement and further financial or reputational harm. Emerging laws and regulations governing AI,…

New risk paragraphs, against peers

Latest 10-K of each, Consumer discretionary companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$8.1B$9.6B$10.6B$11.1B
Net income$854.8M$1.6B$1.8B$1.6B
Operating cash flow$966.5M$2.3B$2.3B$1.6B
Free cash flow$327.8M$1.6B$1.6B$921.7M

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$11.1B ▲ 4.9% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

1 filing in the last 30 days · SEC EDGAR

All filings

About the company

Lululemon Athletica, Vancouver, A1 · from the 10-K filed Mar 17, 2026

lululemon athletica inc. is principally a designer, distributor, and retailer of technical athletic apparel, footwear, and accessories. Our vision is to create transformative products and experiences that build meaningful connections, unlocking greater possibility and wellbeing for all. Since our inception, we have fostered a distinctive corporate culture; we promote a set of core values in our business which include taking personal responsibility, acting with courage, valuing connection and inclusion, and choosing to have fun.

Headquarters
Vancouver, A1
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
January 31
Last results
Sep 3, 2026
Incorporated in
DE

Employees, at the top of the page: "As of February 1, 2026, we had approximately 39,000 employees worldwide" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Mar 17, 2026 (open at SEC), compared with the 10-K filed Mar 27, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/LULU/export.csv") into a cell.