Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
lululemon athletica inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
- Gross Profit Margin
- The gross profit margin exhibited a generally upward trend from May 2020 through May 2025. Starting at approximately 55.87%, it modestly increased with minor fluctuations to reach about 59.34% by May 2025. This indicates an improvement in the company's efficiency in managing production costs relative to revenue over the period analyzed.
- Operating Profit Margin
- The operating profit margin showed more variability than the gross profit margin. It started around 22.34% in May 2020, then decreased steadily to a low near 16.38% in January 2023, suggesting increased operating expenses or other operational challenges during this time. However, from January 2023 onwards, there was a notable recovery and consistent improvement, with the margin reaching approximately 23.36% by May 2025, indicating better control of operating costs or improved operational performance.
- Net Profit Margin
- Net profit margin followed a trend similar to operating margin, starting at 16.22% in May 2020 and declining to a low of around 10.54% in January 2023. After this trough, the margin improved steadily, reaching roughly 16.82% by May 2025. This pattern suggests that after a period of lower profitability, the company managed to enhance its overall profitability, possibly through cost management and revenue growth strategies.
- Return on Equity (ROE)
- Return on equity demonstrated significant fluctuations but an overall positive trajectory over the period. Beginning at 33.07% in May 2020, ROE declined to a low near 23.02% by May 2021, then increased progressively to peak at approximately 43.55% in October 2024. The value slightly decreased but remained robust at 42.14% by May 2025. This indicates strong shareholder value creation with some volatility likely linked to changes in net income and equity base.
- Return on Assets (ROA)
- The return on assets also reflected similar fluctuations, starting at 19.67% in May 2020 and declining to approximately 14.07% by May 2021. Subsequently, it showed a strong recovery, reaching a high of about 24.5% in October 2024, and remaining steady around 24.33% in May 2025. This trend suggests improved asset utilization efficiency and overall profitability in relation to the company's asset base towards the end of the period.
Return on Sales
Return on Investment
Gross Profit Margin
lululemon athletica inc., gross profit margin calculation (quarterly data)
| May 4, 2025 | Feb 2, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Gross profit | 1,383,126) | 2,181,952) | 1,401,606) | 1,412,185) | 1,275,068) | 1,903,425) | 1,256,664) | 1,298,511) | 1,150,805) | 1,527,619) | 1,038,852) | 1,055,476) | 870,393) | 1,236,172) | 829,393) | 842,686) | 700,314) | 1,012,734) | 627,354) | 489,501) | 334,402) | 810,826) | 505,044) | 485,796) | 421,720) | ||||||||
| Net revenue | 2,370,660) | 3,611,497) | 2,396,660) | 2,371,078) | 2,208,891) | 3,205,103) | 2,204,218) | 2,209,165) | 2,000,792) | 2,771,838) | 1,856,889) | 1,868,328) | 1,613,463) | 2,129,113) | 1,450,421) | 1,450,618) | 1,226,465) | 1,729,549) | 1,117,426) | 902,942) | 651,962) | 1,397,491) | 916,138) | 883,352) | 782,315) | ||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||||||
| Gross profit margin1 | 59.34% | 59.22% | 58.85% | 58.54% | 58.34% | 58.31% | 56.97% | 56.75% | 56.16% | 55.39% | 56.25% | 56.53% | 56.88% | 57.68% | 57.80% | 57.62% | 56.87% | 55.98% | 55.58% | 55.31% | 55.50% | 55.87% | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||||||||||
| Nike Inc. | — | — | 43.82% | 44.60% | 44.84% | 44.56% | 44.30% | 43.96% | 43.52% | 43.52% | 43.85% | 44.59% | 45.38% | 45.98% | 46.20% | 45.96% | 45.28% | 44.82% | 43.26% | 42.91% | 43.15% | 43.42% | 44.87% | 45.09% | 45.06% | ||||||||
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
1 Q1 2026 Calculation
Gross profit margin = 100
× (Gross profitQ1 2026
+ Gross profitQ4 2025
+ Gross profitQ3 2025
+ Gross profitQ2 2025)
÷ (Net revenueQ1 2026
+ Net revenueQ4 2025
+ Net revenueQ3 2025
+ Net revenueQ2 2025)
= 100 × (1,383,126 + 2,181,952 + 1,401,606 + 1,412,185)
÷ (2,370,660 + 3,611,497 + 2,396,660 + 2,371,078)
= 59.34%
2 Click competitor name to see calculations.
- Net Revenue Trends
- The net revenue exhibited a generally increasing trend over the observed periods. Starting from approximately 782 million USD, it experienced fluctuations but maintained upward momentum, peaking near 3.6 billion USD in early 2025. Significant growth phases were observed between early 2020 and 2021, as well as from late 2023 onward, indicating robust revenue expansion during these intervals.
- Gross Profit Trends
- Gross profit closely followed the trend in net revenue, with values rising from around 422 million USD in mid-2019 to over 2.1 billion USD by early 2025. While there were periods of volatility, such as a notable decline around May 2020, the overall trajectory was upward, reflecting improved profitability accompanying revenue growth. The gross profit saw marked increases coinciding with quarters of strong net revenue growth.
- Gross Profit Margin Analysis
- Gross profit margin data is available from early 2020 onward, showing a relatively stable and gradually improving efficiency in converting revenue into gross profit. Margins hovered in the mid-50% range initially, between about 55.3% and 57.8% in 2020 and 2021, then showed a consistent upward trend, reaching over 59% by early 2025. This progression suggests effective cost management or a favorable sales mix over time.
- General Observations
- The data indicates strong resilience and growth in both revenue and profitability after mid-2020, following a dip likely associated with broader market challenges. The steady increase in gross profit margin further emphasizes operational improvements. The simultaneous rise in revenue and margin enhances the company’s ability to generate profit from its sales base, reflecting positively on its financial health during the period under review.
Operating Profit Margin
lululemon athletica inc., operating profit margin calculation (quarterly data)
| May 4, 2025 | Feb 2, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Income from operations | 438,625) | 1,042,168) | 490,661) | 540,226) | 432,642) | 913,890) | 338,115) | 479,257) | 401,414) | 314,426) | 352,427) | 401,208) | 260,347) | 590,556) | 257,947) | 291,031) | 193,821) | 457,906) | 204,920) | 124,409) | 32,751) | 416,487) | 175,829) | 167,982) | 128,812) | ||||||||
| Net revenue | 2,370,660) | 3,611,497) | 2,396,660) | 2,371,078) | 2,208,891) | 3,205,103) | 2,204,218) | 2,209,165) | 2,000,792) | 2,771,838) | 1,856,889) | 1,868,328) | 1,613,463) | 2,129,113) | 1,450,421) | 1,450,618) | 1,226,465) | 1,729,549) | 1,117,426) | 902,942) | 651,962) | 1,397,491) | 916,138) | 883,352) | 782,315) | ||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||||||
| Operating profit margin1 | 23.36% | 23.67% | 23.35% | 22.27% | 22.02% | 22.17% | 16.69% | 17.51% | 17.29% | 16.38% | 21.49% | 21.38% | 21.07% | 21.31% | 20.50% | 20.78% | 19.71% | 18.63% | 19.13% | 19.37% | 20.60% | 22.34% | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||||||||||
| Nike Inc. | — | — | 10.30% | 11.18% | 11.83% | 12.29% | 11.61% | 11.76% | 11.32% | 11.55% | 12.17% | 12.99% | 13.25% | 14.29% | 15.21% | 15.48% | 15.79% | 15.58% | 10.87% | 9.67% | 8.94% | 8.33% | 12.55% | 12.84% | 12.51% | ||||||||
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
1 Q1 2026 Calculation
Operating profit margin = 100
× (Income from operationsQ1 2026
+ Income from operationsQ4 2025
+ Income from operationsQ3 2025
+ Income from operationsQ2 2025)
÷ (Net revenueQ1 2026
+ Net revenueQ4 2025
+ Net revenueQ3 2025
+ Net revenueQ2 2025)
= 100 × (438,625 + 1,042,168 + 490,661 + 540,226)
÷ (2,370,660 + 3,611,497 + 2,396,660 + 2,371,078)
= 23.36%
2 Click competitor name to see calculations.
The financial data reveals several notable trends in the quarterly performance over the analyzed periods. Net revenue demonstrates a general upward trajectory with intermittent fluctuations. Initial quarters exhibit moderate growth, followed by a marked increase in the February 2020 period. Post this peak, net revenue declines significantly but recovers steadily thereafter, reaching a new high around early 2024. Despite some volatility, the overall trend indicates progressive revenue expansion over the analyzed timeframe.
Income from operations presents a less consistent pattern compared to net revenue. There are pronounced fluctuations with periods of sharp increases notably in February 2020, January 2021, and January 2024. Interspersed among these peaks are declines and recoveries, suggesting variability in operational efficiency or cost management. However, income from operations also shows growth in the longer term, aligning roughly with the increasing revenue base but with more pronounced cyclical behavior.
Operating profit margin, available from May 2020 onwards, maintains a relatively stable range between approximately 16% and 23%. The margin displays a mild tendency to improve gradually, with some quarters recording margins above 22% in 2024. This stability and slight growth in operating profit margin indicates consistent operational efficiency despite the fluctuations in absolute operating income and revenue.
- Net Revenue
- Shows an overall growth trend with significant spikes in February 2020 and 2024, indicating periods of accelerated sales performance.
- Post early 2020 decline suggests possible external impacts or strategic adjustments, followed by recovery and new highs.
- Income from Operations
- Exhibits substantial volatility with notable peaks in Q1 2020, Q1 2021, and Q1 2024, indicating fluctuating profitability across quarters.
- The alignment with revenue growth over longer periods suggests improving operating leverage yet exposed to seasonal or operational variations.
- Operating Profit Margin
- Maintains a stable and moderately increasing range post-2020, demonstrating steady operational control relative to sales revenues.
- Margins exceed 22% in select recent quarters, reflecting enhanced profitability despite periodic income volatility.
In summary, the company exhibits strong revenue growth over the examined quarters with corresponding, though more variable, income from operations. The stable and gradually increasing operating margins point to effective cost management and operational discipline. The periodic income spikes, often aligning with fiscal year beginnings, may reflect seasonal business cycles or strategic initiatives impacting profitability.
Net Profit Margin
lululemon athletica inc., net profit margin calculation (quarterly data)
| May 4, 2025 | Feb 2, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Net income | 314,572) | 748,403) | 351,870) | 392,922) | 321,421) | 669,468) | 248,714) | 341,603) | 290,405) | 119,811) | 255,470) | 289,521) | 189,998) | 434,504) | 187,788) | 208,074) | 144,956) | 329,837) | 143,643) | 86,801) | 28,632) | 298,021) | 125,982) | 124,990) | 96,603) | ||||||||
| Net revenue | 2,370,660) | 3,611,497) | 2,396,660) | 2,371,078) | 2,208,891) | 3,205,103) | 2,204,218) | 2,209,165) | 2,000,792) | 2,771,838) | 1,856,889) | 1,868,328) | 1,613,463) | 2,129,113) | 1,450,421) | 1,450,618) | 1,226,465) | 1,729,549) | 1,117,426) | 902,942) | 651,962) | 1,397,491) | 916,138) | 883,352) | 782,315) | ||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||||||
| Net profit margin1 | 16.82% | 17.14% | 17.05% | 16.34% | 16.09% | 16.12% | 10.89% | 11.40% | 11.24% | 10.54% | 15.66% | 15.60% | 15.36% | 15.59% | 14.87% | 14.96% | 14.17% | 13.38% | 13.69% | 13.94% | 15.01% | 16.22% | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||||||||||
| Nike Inc. | — | — | 9.43% | 9.98% | 10.60% | 11.10% | 10.14% | 10.28% | 9.82% | 9.90% | 10.82% | 11.47% | 11.96% | 12.94% | 13.06% | 13.32% | 13.17% | 12.86% | 8.90% | 7.39% | 7.20% | 6.79% | 10.46% | 11.21% | 10.81% | ||||||||
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
1 Q1 2026 Calculation
Net profit margin = 100
× (Net incomeQ1 2026
+ Net incomeQ4 2025
+ Net incomeQ3 2025
+ Net incomeQ2 2025)
÷ (Net revenueQ1 2026
+ Net revenueQ4 2025
+ Net revenueQ3 2025
+ Net revenueQ2 2025)
= 100 × (314,572 + 748,403 + 351,870 + 392,922)
÷ (2,370,660 + 3,611,497 + 2,396,660 + 2,371,078)
= 16.82%
2 Click competitor name to see calculations.
- Net Income
- The net income shows considerable volatility over the periods analyzed. Initially, net income experiences growth from 96,603 thousand USD in May 2019 to a peak of 329,837 thousand USD in January 2021. Subsequently, there is a notable decline and fluctuations, with drops around mid-2023 and a pronounced peak at 669,468 thousand USD in January 2024. After this peak, net income declines again but remains relatively high, indicating some cyclical or seasonal effects influencing profitability.
- Net Revenue
- Net revenue demonstrates an overall upward trend with some fluctuations. Revenue increased substantially from 782,315 thousand USD in May 2019 to a notable high of 3,601,497 thousand USD in October 2024. The data suggests strong growth, particularly from 2020 onwards, with some quarterly variations that may be associated with market conditions, consumer demand fluctuations, or specific operational events.
- Net Profit Margin
- Net profit margin data is available from February 2020 onwards and remains consistently positive, generally ranging between approximately 10.5% and 17%. There is a relatively stable margin profile with gradual improvements noticed in the later periods, reaching peaks above 17% in late 2024 and early 2025. However, there are some dips into the 10–11% range around early to mid-2023, indicating possible cost pressures or margin compression during those quarters.
- Overall Trends and Insights
- The combined analysis of net income, net revenue, and profit margin suggests strong revenue growth translating into increasing profitability, though with significant short-term fluctuations. The variability in net income relative to revenue growth indicates variability in expense management or other operational factors impacting bottom-line results. The relatively stable and slightly improving profit margins over time imply effective cost control and operational efficiency improvements despite periodic challenges. Peaks in both income and revenue might correspond to seasonal demand or successful product cycles, while interim dips suggest sensitivity to external economic or competitive pressures.
Return on Equity (ROE)
lululemon athletica inc., ROE calculation (quarterly data)
| May 4, 2025 | Feb 2, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Net income | 314,572) | 748,403) | 351,870) | 392,922) | 321,421) | 669,468) | 248,714) | 341,603) | 290,405) | 119,811) | 255,470) | 289,521) | 189,998) | 434,504) | 187,788) | 208,074) | 144,956) | 329,837) | 143,643) | 86,801) | 28,632) | 298,021) | 125,982) | 124,990) | 96,603) | ||||||||
| Stockholders’ equity | 4,289,570) | 4,324,047) | 3,985,732) | 4,031,645) | 4,219,808) | 4,232,081) | 3,525,849) | 3,533,482) | 3,320,076) | 3,148,799) | 3,039,204) | 2,857,798) | 2,668,050) | 2,740,046) | 2,658,455) | 2,671,166) | 2,639,855) | 2,558,566) | 2,162,953) | 2,001,102) | 1,835,787) | 1,952,218) | 1,648,736) | 1,507,379) | 1,366,720) | ||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||||||
| ROE1 | 42.14% | 41.97% | 43.55% | 40.49% | 37.47% | 36.63% | 28.38% | 28.51% | 28.77% | 27.15% | 38.48% | 38.55% | 38.24% | 35.60% | 32.75% | 30.94% | 26.71% | 23.02% | 25.76% | 26.96% | 31.46% | 33.07% | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||||||||||
| Nike Inc. | — | — | 32.18% | 34.81% | 38.02% | 39.50% | 36.77% | 37.46% | 36.16% | 36.20% | 37.70% | 36.89% | 35.65% | 39.57% | 41.30% | 41.34% | 42.41% | 44.86% | 28.73% | 26.56% | 29.16% | 31.52% | 47.74% | 48.89% | 46.78% | ||||||||
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
1 Q1 2026 Calculation
ROE = 100
× (Net incomeQ1 2026
+ Net incomeQ4 2025
+ Net incomeQ3 2025
+ Net incomeQ2 2025)
÷ Stockholders’ equity
= 100 × (314,572 + 748,403 + 351,870 + 392,922)
÷ 4,289,570 = 42.14%
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several noteworthy trends in the key performance indicators over the observed periods.
- Net Income
- The net income figures exhibit considerable variability across the quarters. Initial values start modestly in 2019, with a significant spike observed in February 2020 at $298,021 thousand. This peak is followed by a sharp decline in May 2020 down to $28,632 thousand, likely reflecting external challenges during that period. Subsequent quarters show a recovery with fluctuations; notable increases are seen in January 2021 ($329,837 thousand) and January 2022 ($434,504 thousand). The trend continues with alternating rises and dips, culminating in a high of $748,403 thousand in October 2024, which marks the maximum net income within the dataset. Overall, net income demonstrates a pattern of recovery and growth post-2020 with substantial volatility.
- Stockholders’ Equity
- Stockholders' equity shows a consistent upward trend throughout the time frame. Starting at $1,366,720 thousand in May 2019, it steadily increases with minor fluctuations. By January 2021, equity surpasses $2.5 billion, continuing its growth trend to exceed $4.2 billion in the years 2024, peaking at $4,329,047 thousand in February 2025. This sustained increase in equity reflects ongoing retained earnings and possibly capital contributions, indicating a strengthening financial foundation.
- Return on Equity (ROE)
- ROE data begins from February 2020, showing high values initially, with 33.07% growth, followed by slight declines over the near quarters. However, starting mid-2021, ROE consistently improves, reaching a peak of 43.55% in October 2024. Most quarters maintain an ROE above 25%, indicating strong profitability relative to shareholder equity. The upward trend in ROE, despite some fluctuations, suggests increasing efficiency in generating returns for shareholders.
In summary, the company exhibits strong growth in equity and return on equity over time, signaling financial robustness and effective use of shareholder capital. Although net income shows periods of significant volatility—particularly around early to mid-2020—it recovers subsequently, achieving record highs towards the later quarters. The overall financial trajectory implies resilience and improved profitability performance in recent periods.
Return on Assets (ROA)
lululemon athletica inc., ROA calculation (quarterly data)
| May 4, 2025 | Feb 2, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Net income | 314,572) | 748,403) | 351,870) | 392,922) | 321,421) | 669,468) | 248,714) | 341,603) | 290,405) | 119,811) | 255,470) | 289,521) | 189,998) | 434,504) | 187,788) | 208,074) | 144,956) | 329,837) | 143,643) | 86,801) | 28,632) | 298,021) | 125,982) | 124,990) | 96,603) | ||||||||
| Total assets | 7,430,543) | 7,603,292) | 7,083,669) | 6,744,135) | 6,828,495) | 7,091,941) | 6,022,264) | 5,992,458) | 5,571,544) | 5,607,038) | 5,309,436) | 4,920,711) | 4,697,212) | 4,942,478) | 4,572,007) | 4,405,098) | 4,329,831) | 4,185,215) | 3,627,920) | 3,494,027) | 3,201,786) | 3,281,354) | 2,855,144) | 2,694,744) | 2,463,020) | ||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||||||
| ROA1 | 24.33% | 23.87% | 24.50% | 24.21% | 23.16% | 21.86% | 16.61% | 16.81% | 17.14% | 15.25% | 22.03% | 22.39% | 21.72% | 19.73% | 19.04% | 18.76% | 16.29% | 14.07% | 15.36% | 15.44% | 18.04% | 19.67% | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||||||||||
| Nike Inc. | — | — | 11.93% | 12.87% | 14.00% | 14.96% | 14.00% | 14.24% | 13.73% | 13.51% | 14.31% | 14.21% | 13.73% | 14.99% | 15.45% | 15.85% | 16.04% | 15.17% | 9.47% | 8.11% | 8.09% | 8.10% | 16.47% | 17.19% | 16.40% | ||||||||
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
1 Q1 2026 Calculation
ROA = 100
× (Net incomeQ1 2026
+ Net incomeQ4 2025
+ Net incomeQ3 2025
+ Net incomeQ2 2025)
÷ Total assets
= 100 × (314,572 + 748,403 + 351,870 + 392,922)
÷ 7,430,543 = 24.33%
2 Click competitor name to see calculations.
- Net Income
- The net income shows notable volatility throughout the periods analyzed. Initially, from May 2019 to February 2020, net income increased steadily, reaching a peak of 298,021 thousand USD. Following this peak, there was a sharp decline in May 2020, with net income dropping to 28,632 thousand USD, likely reflecting external market disruptions. Subsequently, the net income demonstrates a recovery trend with fluctuations, featuring significant gains in January 2021 and January 2022 where values reached 329,837 and 434,504 thousand USD, respectively. The latter periods show a pattern of alternating increases and decreases, culminating in large net incomes of 748,403 thousand USD in January 2025, followed by a decline to 314,572 thousand USD in April 2025.
- Total Assets
- Total assets demonstrate a consistent upward trend across the entire time span. Starting from 2,463,020 thousand USD in May 2019, assets steadily increased with minor fluctuations. There is a noticeable acceleration in asset growth from early 2021 onward, with assets surpassing 7 billion USD by February 2025, peaking at 7,603,292 thousand USD in that period. This suggests a continued expansion of the asset base, highlighting potential investment or acquisition activities.
- Return on Assets (ROA)
- ROA data begins in February 2020 with a level of 19.67%, decreasing slightly through the remainder of 2020 to a low of approximately 14%. From early 2021 onward, ROA exhibits an upward trajectory with occasional minor dips. The trend shows consistent improvement between 2021 and 2024, peaking at around 24.5% in October 2024. This indicates enhanced efficiency in asset utilization to generate profits over time, despite some variability.
- General Insights
- The company experienced a period of volatility in net income during the 2020 timeframe, with substantial decreases likely linked to market disruptions. However, total assets grew steadily, indicating ongoing investment and accumulation of resources. The increasing ROA levels in recent periods suggest improved operational efficiency and effective asset management despite fluctuations in net income. Overall, while profitability shows cyclical tendencies, asset growth and returns demonstrate positive longer-term trends.