Price to FCFE (P/FCFE)
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Free Cash Flow to Equity (FCFE)
lululemon athletica inc., FCFE calculation
US$ in thousands
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 financial information reveals fluctuating trends in both net cash provided by operating activities and free cash flow to equity (FCFE) over the observed period. A significant increase in operating cash flow is noted between 2021 and 2022, followed by a decrease in 2023, and a substantial rebound in 2024. FCFE mirrors this pattern, though with more pronounced volatility.
- Net Cash from Operations
- Net cash provided by operating activities increased considerably from US$803.336 million in 2021 to US$1,389.108 million in 2022, representing a growth of over 73%. This was followed by a decline to US$966.463 million in 2023. However, a strong recovery occurred in 2024, reaching US$2,296.164 million. The trend moderates slightly in 2025 at US$2,272.713 million, before decreasing again to US$1,602.477 million in 2026.
- Free Cash Flow to Equity
- FCFE demonstrates a similar pattern of growth, decline, and recovery. It rose from US$574.110 million in 2021 to US$994.606 million in 2022, an increase of approximately 73%. A substantial decrease is observed in 2023, with FCFE falling to US$327.806 million. A significant increase is then seen in 2024, reaching US$1,644.299 million. The value remains high in 2025 at US$1,583.481 million, but declines to US$921.675 million in 2026.
The correlation between net cash from operations and FCFE is strong, suggesting that changes in operating cash flow are a primary driver of FCFE fluctuations. The decrease in FCFE in 2023 and 2026, despite positive operating cash flow, warrants further investigation to determine the underlying causes, such as changes in capital expenditures, debt repayment, or dividend payouts. The substantial increases in both metrics in 2022 and 2024 indicate periods of strong financial performance and cash generation.
- Overall Trend
- While both metrics exhibit volatility, a general upward trend is observable over the six-year period, particularly when considering the values in 2024 and 2025. However, the decline in both operating cash flow and FCFE in the final year suggests a potential shift in the company’s financial trajectory that requires monitoring.
Price to FCFE Ratio, Current
lululemon athletica inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in thousands) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Nike Inc. | |
| P/FCFE, Sector | |
| Consumer Durables & Apparel | |
| P/FCFE, Industry | |
| Consumer Discretionary | |
Based on: 10-K (reporting date: 2026-02-01).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
lululemon athletica inc., historical P/FCFE calculation, comparison to benchmarks
| Feb 1, 2026 | Feb 2, 2025 | Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | Jan 31, 2021 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||
| Selected Financial Data (US$) | |||||||
| Free cash flow to equity (FCFE) (in thousands)2 | |||||||
| FCFE per share3 | |||||||
| Share price1, 4 | |||||||
| Valuation Ratio | |||||||
| P/FCFE5 | |||||||
| Benchmarks | |||||||
| P/FCFE, Competitors6 | |||||||
| Nike Inc. | |||||||
| P/FCFE, Sector | |||||||
| Consumer Durables & Apparel | |||||||
| P/FCFE, Industry | |||||||
| Consumer Discretionary | |||||||
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).
1 Data adjusted for splits and stock dividends.
3 2026 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of lululemon athletica inc. Annual Report.
5 2026 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
The Price to Free Cash Flow to Equity (P/FCFE) ratio exhibits considerable fluctuation over the observed period. Initial values demonstrate a significant decrease followed by an increase, and then a subsequent decline. A detailed examination of the components and the resulting ratio reveals specific trends.
- Share Price
- The share price initially increased from US$317.09 in 2021 to US$343.97 in 2022, representing a growth of approximately 8.4%. A subsequent decrease to US$320.31 was observed in 2023. However, a substantial increase occurred in 2024, reaching US$478.84. This was followed by a significant decline to US$341.53 in 2025 and a further, more dramatic decrease to US$159.27 in 2026.
- Free Cash Flow to Equity per Share
- FCFE per share increased notably from US$4.40 in 2021 to US$7.78 in 2022, a rise of approximately 76.8%. A considerable decrease to US$2.58 occurred in 2023. FCFE per share then experienced a substantial increase in 2024, reaching US$13.05. This level was largely maintained in 2025 at US$13.13, before decreasing to US$7.97 in 2026.
- Price to FCFE Ratio
- The P/FCFE ratio began at 72.00 in 2021, then decreased significantly to 44.24 in 2022, coinciding with the increase in FCFE per share. The ratio increased substantially to 124.26 in 2023, driven by the decrease in FCFE per share. In 2024, the ratio decreased to 36.70, reflecting the increase in FCFE per share and the share price. A further decrease to 26.02 was observed in 2025. The most substantial change occurred between 2025 and 2026, with the ratio falling to 19.98, primarily due to the significant decline in share price despite a moderate decrease in FCFE per share.
The observed volatility in the P/FCFE ratio suggests a dynamic relationship between market valuation and the cash flow available to equity holders. The fluctuations indicate periods of both investor optimism and pessimism, as reflected in the share price movements. The ratio’s decline in the later years, particularly 2026, warrants further investigation to determine the underlying causes and potential implications for future performance.