LULU FY 2021 Earnings Report — Lululemon Athletica Inc. Revenue & Financial Results | Market Cap Arena

Lululemon Athletica Inc.LULU

FY 2021 Earnings

Reported March 29, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$6.3B	—	$4.4B	—	42.1%
Op. Income	$1.3B	—	$820M	—	62.6%
Gross Margin	57.7%	—	56.0%	—	1.7pp
Net Margin	15.6%	—	13.4%	—	2.2pp
EPS (Diluted)	$7.49	—	$4.50	—	66.4%
Free Cash Flow	$995M	—	$574M	—	73.2%

Revenue Flow

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$2.6B
GROSS PROFIT	$3.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.2B
Other Expenses	$50M
Operating Expenses	$2.3B
Cost & Expenses	$4.9B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$514.0K
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$359M
Net Income from Continuing Ops	$975M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$975M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$975M
D&A	$224M
EBIT	$1.4B
EBITDA	$1.6B
EPS	$8
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$6.3B
Cost of Revenue	$2.6B
GROSS PROFIT	$3.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.2B
Other Expenses	$50M
Operating Expenses	$2.3B
Cost & Expenses	$4.9B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$514.0K
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$359M
Net Income from Continuing Ops	$975M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$975M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$975M
D&A	$224M
EBIT	$1.4B
EBITDA	$1.6B
EPS	$8
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$975M
Depreciation & Amortization	$224M
Stock-Based Compensation	$69M
Deferred Income Tax	-$5M
Other Non-Cash Items	-$4M
Change in Working Capital	$129M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$395M
Acquisitions (Net)	$0
Purchases of Investments	-$23M
Sales/Maturities of Investments	$0
Other Investing Activities	-$10M
NET CASH FROM INVESTING	-$428M
Net Debt Issuance	$0
Common Stock Repurchased	-$813M
Common Dividends Paid	$0
Other Financing Activities	-$32M
NET CASH FROM FINANCING	-$845M
FREE CASH FLOW	$995M
Net Change in Cash	$109M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$0
Net Receivables	$196M
Inventory	$966M
Other Current Assets	$52M
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$1.7B
Goodwill	$387M
Intangible Assets	$71M
Long-Term Investments	$0
Tax Assets	$6M
Other Non-Current Assets	$132M
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$4.9B
Account Payables	$290M
Short-Term Debt	$0
Deferred Revenue	$208M
Other Current Liabilities	$331M
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$53M
Other Non-Current Liabilities	$52M
TOTAL NON-CURRENT LIABILITIES	$797M
TOTAL LIABILITIES	$2.2B
Common Stock	$616.0K
Additional Paid-In Capital	$423M
Retained Earnings	$2.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$196M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.7B
Minority Interest	$0
TOTAL EQUITY	$2.7B
TOTAL LIABILITIES & EQUITY	$4.9B
Total Debt	$881M
Net Debt	-$379M