Financials lululemon athletica Inc.

Equities

LULU

US5500211090

Apparel & Accessories

Real-time Estimate Cboe BZX Other stock markets 01:03:01 2025-01-21 pm EST			5-day change	1st Jan Change
374.64 ^USD	+0.25%		-3.23%	-1.63%

Jan. 16	HSBC Adjusts Price Target on Lululemon Athletica to $450 From $415, Maintains Buy Rating	MT
Jan. 16	Barclays Adjusts Price Target on Lululemon Athletica to $411 From $378, Maintains Equalweight Rating	MT

Projected Income Statement: lululemon athletica Inc.

income-statement-evolution-chart LULULEMON-ATHLETICA-INC

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	3,979	4,402	6,257	8,111	9,619	10,561	11,329	12,285
Change	-	10.62%	42.14%	29.63%	18.6%	9.79%	7.27%	8.44%
EBITDA ¹	1,051	1,035	1,599	2,081	2,610	2,883	3,071	3,330
Change	-	-1.5%	54.44%	30.14%	25.44%	10.44%	6.52%	8.42%
EBIT ¹	889.1	849.8	1,375	1,789	2,231	2,450	2,587	2,815
Change	-	-4.42%	61.77%	30.14%	24.7%	9.82%	5.59%	8.81%
Interest Paid	-	-0.636	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	897.4	819.4	1,334	1,333	2,176	2,518	2,662	2,861
Change	-	-8.7%	62.8%	-0.1%	63.27%	15.71%	5.74%	7.45%
Net income ¹	645.6	588.9	975.3	854.8	1,550	1,771	1,860	1,994
Change	-	-8.78%	65.61%	-12.36%	81.35%	14.27%	5%	7.22%
Announcement Date	3/26/20	3/30/21	3/29/22	3/28/23	3/21/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: January	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	1,397	652	902.9	1,117	1,730	1,226	1,451	1,450	2,129	1,613	1,868	1,857	2,772	2,001	2,209	2,204	3,205	2,209	2,371	2,397	3,587	2,397	2,589	2,608	3,719	2,635	2,832	2,792
Change	-	-53.35%	38.5%	23.75%	54.78%	-29.09%	18.28%	-0.01%	46.79%	-24.22%	15.8%	-0.61%	49.27%	-27.82%	10.41%	-0.22%	45.41%	-31.08%	7.34%	1.08%	49.65%	-33.17%	8.03%	0.72%	42.6%	-29.15%	7.5%	-1.42%
EBITDA ¹	464	76.28	176.5	262.5	518	244.3	352.8	340	654.1	324.8	-	431.6	865.4	485.5	573.3	510.6	1,017	528.4	643.8	604.3	1,113	580.2	708.3	665.2	1,173	645.8	790.8	727.3
Change	-	-83.56%	131.4%	48.7%	97.34%	-52.83%	44.41%	-3.62%	92.37%	-50.34%	-100%	-	100.51%	-43.9%	18.07%	-10.93%	99.22%	-48.05%	21.84%	-6.14%	84.14%	-47.85%	22.08%	-6.08%	76.36%	-44.96%	22.45%	-8.03%
EBIT ¹	416.5	32.75	135.9	213.5	465.7	193.8	299.2	282.1	592	260.3	391	352.4	785.3	401.4	479.3	412.6	913.9	432.6	540.2	490.7	992.9	461	573.8	523	1,019	510.3	640.6	562.6
Change	-	-92.14%	314.87%	57.1%	118.18%	-58.38%	54.36%	-5.72%	109.88%	-56.02%	50.19%	-9.87%	122.82%	-48.88%	19.39%	-13.91%	121.49%	-52.66%	24.87%	-9.17%	102.36%	-53.57%	24.48%	-8.85%	94.77%	-49.91%	25.53%	-12.18%
Charge d'intérêts	-	-	-	-0.58	-0.886	0.227	-	0.015	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	418.6	33.92	124.1	204.3	457	194	291.1	258	590.7	260.3	401.4	352.8	318.1	409.4	486.6	348	931.7	455.9	558.2	504.4	1,015	486.7	603.7	545	1,057	528.7	655	577.3
Change	-	-91.9%	265.7%	64.7%	123.66%	-57.54%	50.03%	-11.39%	129%	-55.93%	54.17%	-12.11%	-9.81%	28.7%	18.85%	-28.49%	167.77%	-51.07%	22.44%	-9.64%	101.21%	-52.04%	24.04%	-9.72%	93.92%	-49.98%	23.89%	-11.86%
Net income ¹	298	28.63	86.8	143.6	329.8	145	208.1	187.8	434.5	190	289.5	255.5	119.8	290.4	341.6	248.7	669.5	321.4	392.9	351.9	716.3	338.6	419.8	379.7	739.3	370.1	458.5	404.1
Change	-	-90.39%	203.16%	65.49%	129.62%	-56.05%	43.54%	-9.75%	131.38%	-56.27%	52.38%	-11.76%	-53.1%	142.39%	17.63%	-27.19%	169.17%	-51.99%	22.25%	-10.45%	103.58%	-52.73%	23.98%	-9.55%	94.69%	-49.94%	23.89%	-11.86%
Announcement Date	3/26/20	6/11/20	9/8/20	12/10/20	3/30/21	6/3/21	9/8/21	12/9/21	3/29/22	6/2/22	9/1/22	12/8/22	3/28/23	6/1/23	8/31/23	12/7/23	3/21/24	6/5/24	8/29/24	12/5/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: lululemon athletica Inc.

balance-sheet-analysis-chart LULULEMON-ATHLETICA-INC

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-1,094	-1,151	-1,260	-1,155	-2,244	-2,224	-2,844	-3,590
Change	-	-205.21%	-209.47%	-191.67%	-294.29%	-199.11%	-227.88%	-226.23%
Announcement Date	3/26/20	3/30/21	3/29/22	3/28/23	3/21/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: lululemon athletica Inc.

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	283	229.2	394.5	638.7	651.9	690.9	756.9	807.8
Change	-	-19.02%	72.1%	61.89%	2.07%	5.98%	9.56%	6.72%
Free Cash Flow (FCF) ¹	386.3	574.1	994.6	327.8	1,644	1,352	1,544	1,547
Change	-	48.63%	73.24%	-67.04%	401.61%	-17.78%	14.22%	0.19%
Announcement Date	3/26/20	3/30/21	3/29/22	3/28/23	3/21/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: lululemon athletica Inc.

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	26.41%	23.52%	25.56%	25.66%	27.14%	27.3%	27.11%	27.1%
EBIT Margin (%)	22.34%	19.31%	21.97%	22.06%	23.19%	23.2%	22.84%	22.91%
EBT Margin (%)	22.55%	18.61%	21.32%	16.43%	22.62%	23.84%	23.5%	23.28%
Net margin (%)	16.22%	13.38%	15.59%	10.54%	16.12%	16.77%	16.42%	16.23%
FCF margin (%)	9.71%	13.04%	15.9%	4.04%	17.09%	12.8%	13.63%	12.59%
FCF / Net Income (%)	59.83%	97.49%	101.98%	38.35%	106.07%	76.32%	83.03%	77.58%
Profitability
ROA	24.06%	15.77%	21.37%	24.44%	25.55%	24.41%	24.05%	23.21%
ROE	38%	26.11%	36.81%	43.78%	43.96%	39.86%	37.24%	32.99%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	7.11%	5.21%	6.31%	7.87%	6.78%	6.54%	6.68%	6.58%
CAPEX / EBITDA (%)	26.93%	22.14%	24.67%	30.69%	24.97%	23.96%	24.65%	24.26%
CAPEX / FCF (%)	73.28%	39.93%	39.66%	194.83%	39.64%	51.1%	49.02%	52.22%
Items per share
Cash flow per share ¹	5.111	6.138	10.66	7.55	18.07	16.2	18.15	19.66
Change	-	20.1%	73.68%	-29.19%	139.37%	-10.37%	12.07%	8.32%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	14.29	18.87	21.12	24.66	33.4	38.92	47.71	60.41
Change	-	32.05%	11.87%	16.81%	35.4%	16.55%	22.57%	26.62%
EPS ¹	4.93	4.5	7.49	6.68	12.2	14.28	15.36	16.87
Change	-	-8.72%	66.44%	-10.81%	82.63%	17.04%	7.59%	9.78%
Nbr of stocks (in thousands)	130,295	130,338	129,294	127,515	126,191	121,784	121,784	121,784
Announcement Date	3/26/20	3/30/21	3/29/22	3/28/23	3/21/24	-	-	-