Stock Analysis on Net
Stock Analysis on Net

lululemon athletica inc. (NASDAQ:LULU)

$24.99

Operating Profit Margin
since 2008

Microsoft Excel

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Calculation

lululemon athletica inc., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Income from operations1 ÷ Net revenue1
Feb 1, 2026 = 100 × ÷
Feb 2, 2025 = 100 × ÷
Jan 28, 2024 = 100 × ÷
Jan 29, 2023 = 100 × ÷
Jan 30, 2022 = 100 × ÷
Jan 31, 2021 = 100 × ÷
Feb 2, 2020 = 100 × ÷
Feb 3, 2019 = 100 × ÷
Jan 28, 2018 = 100 × ÷
Jan 29, 2017 = 100 × ÷
Jan 31, 2016 = 100 × ÷
Feb 1, 2015 = 100 × ÷
Feb 2, 2014 = 100 × ÷
Feb 3, 2013 = 100 × ÷
Jan 29, 2012 = 100 × ÷
Jan 30, 2011 = 100 × ÷
Jan 31, 2010 = 100 × ÷
Feb 1, 2009 = 100 × ÷
Feb 3, 2008 = 100 × ÷

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), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03).

1 US$ in thousands

The operating profit margin exhibited considerable fluctuation over the observed period. Initially, the margin stood at 18.25% in 2008, decreased to 16.00% in 2009, and then demonstrated a generally increasing trend through 2012, peaking at 28.67%. Subsequent years saw a period of decline, reaching 17.91% in 2016, before experiencing renewed growth. The most recent years show a margin fluctuating between 19.91% and 23.67%.

Initial Period (2008-2012)
From 2008 to 2012, the operating profit margin generally improved. The initial dip in 2009 was followed by consistent gains, indicating increasing operational efficiency or pricing power. The substantial increase between 2010 and 2012 suggests successful strategies in cost management or revenue generation.
Mid-Period Decline (2013-2016)
The period between 2013 and 2016 witnessed a decline in the operating profit margin. While income from operations continued to grow, the rate of growth slowed relative to net revenue, resulting in a lower percentage. This could be attributed to increased operating expenses or competitive pressures impacting profitability.
Recent Fluctuations (2017-2026)
From 2017 onwards, the operating profit margin has shown more volatility. A rise to 21.46% in 2019 was followed by a decrease in 2020, likely influenced by external factors such as the global pandemic. The margin recovered in 2021 and 2022, before decreasing again in 2023. The most recent figures for 2024, 2025 indicate a fluctuating pattern, with a peak in 2024 and a slight decline in 2025.
Relationship to Revenue
A review of the income from operations and net revenue figures reveals that while revenue consistently increased over the period, the operating profit margin did not always follow suit. This suggests that revenue growth alone does not guarantee improved profitability, and that cost control and operational efficiency are crucial factors.

Overall, the operating profit margin demonstrates a dynamic pattern, influenced by both internal operational factors and external economic conditions. The company has demonstrated the ability to improve its margin, but maintaining consistent profitability requires ongoing attention to cost management and revenue generation strategies.