Stock Analysis on Net

lululemon athletica inc. (NASDAQ:LULU)

$24.99

Price to Sales (P/S)
since 2008

Microsoft Excel

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Calculation

lululemon athletica inc., P/S, long-term trends, calculation

Microsoft Excel

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$

2 Data adjusted for splits and stock dividends.

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


The price-to-sales (P/S) ratio exhibited considerable fluctuation between 2008 and 2026. Initially, the ratio began at 8.16 in 2008, decreased substantially to a low of 1.66 in 2009, and then generally increased through 2012, peaking at 10.89. Subsequent years showed a more volatile pattern, with a decline to 4.68 in 2014, followed by a period of relative stability between 3.88 and 6.57 from 2016 to 2020. A significant increase was observed in 2021, reaching 9.39, before declining to 5.02 in 2022 and further to 3.89 in 2024. The most recent observation in 2026 shows a substantial decrease to 1.66.

Initial Period (2008-2009)
The period between 2008 and 2009 demonstrates a sharp decrease in the P/S ratio. This suggests a significant shift in investor sentiment, potentially reflecting concerns about the company’s future sales performance relative to its share price during that time. The decrease occurred alongside a decrease in share price and an increase in sales per share.
Growth and Stabilization (2010-2015)
From 2010 to 2015, the P/S ratio experienced a period of growth followed by stabilization. The ratio increased from 6.13 to 10.89, then fluctuated between approximately 4.52 and 6.57. This period suggests a more positive outlook on the company’s ability to generate sales relative to its market capitalization, although investor confidence remained relatively consistent in the latter part of this timeframe.
Recent Volatility (2016-2026)
The period from 2016 to 2026 is characterized by increased volatility in the P/S ratio. The ratio peaked at 9.39 in 2021, then experienced a decline to 1.66 in 2026. This suggests a changing perception of the company’s valuation relative to its sales, potentially influenced by factors such as market conditions, competitive pressures, or company-specific performance. The recent decline to 1.66 represents a return to levels not seen since 2009.
Relationship to Underlying Components
The P/S ratio’s movements correlate with changes in both share price and sales per share. Increases in the ratio often coincide with increases in share price, while decreases can be attributed to either falling share prices or stagnant/decreasing sales per share. The substantial decrease in the ratio in 2026 is accompanied by a significant decrease in share price, indicating a potential reassessment of the company’s value by investors.

Comparison to Competitors


Comparison to Sector (Consumer Durables & Apparel)

lululemon athletica inc., P/S, long-term trends, comparison to sector (consumer durables & apparel)

Microsoft Excel

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).


Comparison to Industry (Consumer Discretionary)

lululemon athletica inc., P/S, long-term trends, comparison to industry (consumer discretionary)

Microsoft Excel

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).