Common-Size Income Statement
Paying user area
Try for free
lululemon athletica inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Price to Operating Profit (P/OP) since 2008
- Price to Book Value (P/BV) since 2008
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to lululemon athletica inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
lululemon athletica inc., common-size consolidated income statement
Based on: 10-K (reporting date: 2026-02-01), 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).
The common-size income statement reveals several noteworthy trends over the six-year period. Generally, the company demonstrates fluctuating profitability, with periods of expansion followed by contraction. Gross margin exhibits volatility, while operating income shows a generally positive, though uneven, trajectory. Selling, general, and administrative expenses remain relatively stable as a percentage of net revenue.
- Gross Profit
- Gross profit as a percentage of net revenue initially increased from 55.98% in 2021 to a peak of 57.68% in 2022. However, it subsequently declined to 55.39% in 2023 before recovering to 58.31% in 2024 and 59.22% in 2025. A decrease to 56.60% is observed in the most recent year, 2026. This suggests potential fluctuations in production costs or pricing strategies.
- Operating Expenses
- Selling, general, and administrative expenses remained consistently high, ranging between 34.00% and 36.55% of net revenue throughout the period. A slight upward trend is visible towards the end of the period, increasing from 35.32% in 2024 to 36.63% in 2026. This indicates a consistent level of investment in these areas, with a potential for increased spending in later years.
- Operating Income
- Income from operations demonstrated significant variation. It rose from 18.63% in 2021 to 21.31% in 2022, then decreased to 16.38% in 2023. A substantial increase to 22.17% in 2024 and 23.67% in 2025 was followed by a decline to 19.91% in 2026. This volatility suggests sensitivity to changes in gross margin and operating expenses.
- Net Income
- Net income followed a similar pattern to operating income, fluctuating between 10.54% and 17.14% of net revenue. The highest value of 17.14% was achieved in 2025, followed by a decrease to 14.22% in 2026. This indicates that the company’s bottom-line profitability is subject to considerable variation.
- Other Items
- The impact of other income (expense), net, was relatively small but increased over time, moving from -0.01% in 2021 to 0.66% in 2025 before decreasing to 0.26% in 2026. Impairment of assets and restructuring costs were only present in 2023 and 2024, representing 5.03% and 0.77% of net revenue respectively. These one-time items impacted profitability in those years. Acquisition-related expenses were present in 2021 and 2022, and a gain on disposal of assets was recorded in 2023.
- Tax Rate
- The income tax expense as a percentage of net revenue generally increased over the period, from 5.23% in 2021 to 7.19% in 2025, before decreasing slightly to 5.94% in 2026. This suggests a potentially increasing effective tax rate, or changes in the geographic distribution of profits.
Overall, the company’s financial performance demonstrates a pattern of growth and contraction. While gross margins and operating income show potential for improvement, the volatility observed requires further investigation to understand the underlying drivers and potential risks.