LULU FY 2025 Earnings Report — Lululemon Athletica Inc. Revenue & Financial Results | Market Cap Arena

Lululemon Athletica Inc.LULU

FY 2025 Earnings

Reported March 17, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$11.1B	—	$10.6B	—	4.9%
Op. Income	$2.2B	—	$2.5B	—	-11.8%
Gross Margin	56.6%	—	59.2%	—	-2.6pp
Net Margin	14.2%	—	17.1%	—	-2.9pp
EPS (Diluted)	$13.26	—	$14.64	—	-9.4%
Free Cash Flow	$922M	—	$1.6B	—	-41.8%

Revenue Flow

Item	Amount
REVENUE	$11.1B
Cost of Revenue	$4.8B
GROSS PROFIT	$6.3B
R&D Expenses	$0
Selling & Marketing	$618M
General & Administrative	$3.4B
SG&A Expenses	$4.1B
Other Expenses	$7M
Operating Expenses	$4.1B
Cost & Expenses	$8.9B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$28M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$660M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$496M
EBIT	$2.2B
EBITDA	$2.7B
EPS	$13
EPS Diluted	$13

Income Statement

Item	Amount
REVENUE	$11.1B
Cost of Revenue	$4.8B
GROSS PROFIT	$6.3B
R&D Expenses	$0
Selling & Marketing	$618M
General & Administrative	$3.4B
SG&A Expenses	$4.1B
Other Expenses	$7M
Operating Expenses	$4.1B
Cost & Expenses	$8.9B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$28M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$660M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$496M
EBIT	$2.2B
EBITDA	$2.7B
EPS	$13
EPS Diluted	$13

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$496M
Stock-Based Compensation	$62M
Deferred Income Tax	-$53M
Other Non-Cash Items	-$72M
Change in Working Capital	-$409M
OPERATING CASH FLOW	$1.6B
Capital Expenditure	-$681M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$19M
NET CASH FROM INVESTING	-$662M
Net Debt Issuance	$0
Common Stock Repurchased	-$1.2B
Common Dividends Paid	$0
Other Financing Activities	-$39M
NET CASH FROM FINANCING	-$1.2B
FREE CASH FLOW	$922M
Net Change in Cash	-$177M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.8B
Short-Term Investments	$0
Net Receivables	$191M
Inventory	$1.7B
Other Current Assets	$419M
TOTAL CURRENT ASSETS	$4.3B
PP&E (Net)	$3.7B
Goodwill	$185M
Intangible Assets	$6M
Long-Term Investments	$0
Tax Assets	$24M
Other Non-Current Assets	$315M
TOTAL NON-CURRENT ASSETS	$4.2B
TOTAL ASSETS	$8.5B
Account Payables	$331M
Short-Term Debt	$299M
Deferred Revenue	$317M
Other Current Liabilities	$709M
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$52M
Other Non-Current Liabilities	$55M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$3.5B
Common Stock	$557.0K
Additional Paid-In Capital	$669M
Retained Earnings	$4.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$231M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.0B
Minority Interest	$0
TOTAL EQUITY	$5.0B
TOTAL LIABILITIES & EQUITY	$8.5B
Total Debt	$1.8B
Net Debt	-$9M