Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 4/5 core metricsOperating margin changed -3.8 percentage points from the prior annual period.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Operating margin compressed
Operating margin changed -3.8 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2026-02-01.
- 1 filing risk check flagged
Flagged areas: Earnings quality.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +4.9% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2026-02-01.
- Free cash flow was positive
Latest reported free cash flow was $922M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2026-02-01.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Earnings quality
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2026-02-01
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Womens Apparel$7B63.0%+4.5% yoy
- Mens Apparel$2.66B24.0%+4.1% yoy
- Accessories And Other Categories$1.44B13.0%+7.9% yoy
Members sum to the consolidated $11.1B for this period.
- Americas$7.85Bshare n/a-1.0% yoy
- United States$6.33Bshare n/a-2.4% yoy
- China$1.95Bshare n/a+26.8% yoy
- China Mainland$1.75Bshare n/a+28.9% yoy
- Canada$1.42Bshare n/a+0.8% yoy
- Rest of world$1.3Bshare n/a+16.4% yoy
- Hong Kong SAR Taiwan And Macau SAR$199Mshare n/a+10.5% yoy
- Mexico$95.5Mshare n/a+186.7% yoy
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Womens Apparel$1.6B64.9%+4.4% yoy
- Mens Apparel$582M23.5%+6.8% yoy
- Accessories And Other Categories$287M11.6%-1.4% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2026-02-01 · among 4,122 US-listed filers · 481 in Consumer| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $11.1B | 89thof 3,301 top third | 79thof 463 top third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 4.9% | 46thof 3,135 middle third | 61stof 449 middle third |
Gross margin gross profit ÷ revenue | 56.6% | 73rdof 1,603 top third | 88thof 328 top third |
Operating margin operating income ÷ revenue | 19.9% | 84thof 2,819 top third | 92ndof 432 top third |
Net margin net income ÷ revenue | 14.2% | 79thof 3,263 top third | 93rdof 459 top third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 8.3% | 61stof 2,679 middle third | 75thof 417 top third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 31.8% | 93rdof 3,577 top third | 88thof 410 top third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 0.6% | 83rdof 2,895 top third | 59thof 414 middle third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 6 days | 93rdof 2,398 top third | 80thof 382 top third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 1.0× | 25thof 2,183 bottom third | 16thof 298 bottom third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -0.3% | 23rdof 3,577 bottom third | 13thof 415 bottom third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 29.7% | 23rdof 3,059 bottom third | 15thof 325 bottom third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2026-02-01 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 0 changed periodsNo period on file has changed between its first report and the latest filing carrying it.
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
debt, leases, revenue, segments, contingencies, taxes and more · the filer's own wordsDebt · 2,109 characters as filed
"Revolving Credit Facilities Americas revolving credit facility On October 15, 2025, the Company entered into an amended and restated unsecured revolving credit agreement, which provides for $600.0 million in commitments under an unsecured five-year revolving credit facility. The credit facility has a maturity date of October 15, 2030, subject to two one-year extensions at the request of the Company. Subject to the conditions stated in the credit agreement, the Company may request increases in aggregate commitments thereunder up to a total of $1.0 billion. The credit facility permits prepayment of borrowings and reductions or terminations of commitments from time to time without premium or penalty, subject to customary breakage costs. As of May 3, 2026, the Company had no borrowings outstanding under this credit facility other than $6.4 million in outstanding letters of credit and guarantee. Borrowings made under the credit facility bear interest at variable rates based on the Secured Overnight Financing Rate as administered by the Federal Reserve Bank of New York (""SOFR""), or an alternate base rate, plus applicable margin. The credit agreement contains customary financial, affirmative and negative covenants applicable to the Company and its subsidiaries, including limitations on indebtedness, liens, fundamental changes, dispositions of assets, changes in the nature of business, and restrictions on subsidiary dividends and distributions, as well as financial covenants based …
DebtDisclosureTextBlock · excerpt; the full note is in the filing
Revenue disaggregation · 1,110 characters as filed
In addition to the disaggregation of net revenue by reportable segment in Note 11. Segmented Information, the following table disaggregates the Company's net revenue by geographic area. First Quarter 2026 2025 (In thousands) United States $ 1,313,206 $ 1,362,524 Canada 283,341 292,820 Mexico 24,663 19,214 Americas 1,621,210 1,674,558 China Mainland 478,395 368,101 Hong Kong SAR, Taiwan, and Macau SAR 51,408 44,104 People's Republic of China 529,803 412,205 Other geographic areas 320,590 283,897 $ 2,471,603 $ 2,370,660 The following disaggregates the Company's net revenue by category. Accessories and other categories is primarily composed of accessories, footwear, and lululemon Studio. First Quarter 2026 2025 (In thousands) Women's apparel $ 1,602,985 $ 1,535,172 Men's apparel 581,878 544,788 Accessories and other categories 286,740 290,700 $ 2,471,603 $ 2,370,660 The following disaggregates the Company's net revenue by channel. First Quarter 2026 2025 (In thousands) Company-operated stores $ 1,192,840 $ 1,153,107 E-commerce 997,442 960,890 Other channels 281,321 256,663 $ 2,471,603 $ 2,370,660
DisaggregationOfRevenueTableTextBlock
Share-based compensation · 3,799 characters as filed
"Stock-Based Compensation and Benefit Plans Stock-based compensation plans The Company's eligible employees participate in various stock-based compensation plans, provided directly by the Company. Stock-based compensation expense charged to income for the plans was $28.9 million and $23.0 million for the first quarter of 2026 and 2025, respectively. Total unrecognized compensation cost for all stock-based compensation plans was $216.5 million as of May 3, 2026, which is expected to be recognized over a weighted-average period of 2.7 years. A summary of the balances of the Company's stock-based compensation plans as of May 3, 2026, and changes during the first quarter of 2026, is presented below: Stock Options Performance-Based Restricted Stock Units Restricted Shares Restricted Stock Units Number Weighted-Average Exercise Price Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value (In thousands, except per share amounts) Balance as of February 1, 2026 1,269 $ 287.41 220 $ 319.19 6 $ 252.28 561 $ 257.92 Granted 398 165.57 173 185.84 313 165.55 Exercised/released 71 358.82 108 331.60 Forfeited/expired 104 224.27 29 283.27 15 238.82 Balance as of May 3, 2026 1,563 $ 260.59 293 $ 234.60 6 $ 252.28 751 $ 209.18 Exercisable as of May 3, 2026 563 $ 322.62 The Company's performance-based restricted stock units (""PSUs"") awarded to eligible employees during the first quarter of 2026 entitle the grante …
DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing
Fair value · 1,386 characters as filed
Fair Value Measurement Assets and liabilities measured at fair value on a recurring basis As of May 3, 2026 and February 1, 2026, the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: May 3, 2026 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 292,150 $ 292,150 $ $ Cash and cash equivalents Forward currency contract assets 18,581 18,581 Prepaid expenses and other current assets Forward currency contract liabilities 21,311 21,311 Other current liabilities February 1, 2026 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 354,731 $ 354,731 $ $ Cash and cash equivalents Forward currency contract assets 30,996 30,996 Prepaid expenses and other current assets Forward currency contract liabilities 36,476 36,476 Other current liabilities The Company has short-term, highly liquid investments classified as cash equivalents, which are invested in money market funds and short-term deposits with original maturities of three months or less. Assets and liabilities measured at fair value on a non-recurring basis The Company has also recorded lease termination liabilities at fair value on a non-recurring basis, determined using Level 3 inputs based on remaining lease rentals and reduced by estimated sublease income. …
FairValueDisclosuresTextBlock · excerpt; the full note is in the filing
New accounting pronouncements · 1,281 characters as filed
Recently issued accounting pronouncements In November 2024, the FASB issued ASU 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. Entities will be required to provide disaggregated disclosures for certain income statement expense line items. This amendment is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, and will be applied retrospectively for periods presented in the financial statements. The Company is currently evaluating the impact that this new guidance may have on its financial statement disclosures. In September 2025, the FASB issued ASU 2025-06, IntangiblesGoodwill and OtherInternal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The amendment replaces the previous project-stage model with a principles-based approach for capitalizing internal-use software costs. This guidance is effective for annual reporting periods beginning after December 15, 2027 and interim reporting periods within that year. The Company is currently evaluating the impact that this new guidance may have on its accounting policies and related disclosures. …
NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing
Revenue recognition · 1,148 characters as filed
Net Revenue Disaggregated net revenue In addition to the disaggregation of net revenue by reportable segment in Note 11. Segmented Information, the following table disaggregates the Company's net revenue by geographic area. First Quarter 2026 2025 (In thousands) United States $ 1,313,206 $ 1,362,524 Canada 283,341 292,820 Mexico 24,663 19,214 Americas 1,621,210 1,674,558 China Mainland 478,395 368,101 Hong Kong SAR, Taiwan, and Macau SAR 51,408 44,104 People's Republic of China 529,803 412,205 Other geographic areas 320,590 283,897 $ 2,471,603 $ 2,370,660 The following disaggregates the Company's net revenue by category. Accessories and other categories is primarily composed of accessories, footwear, and lululemon Studio. First Quarter 2026 2025 (In thousands) Women's apparel $ 1,602,985 $ 1,535,172 Men's apparel 581,878 544,788 Accessories and other categories 286,740 290,700 $ 2,471,603 $ 2,370,660 The following disaggregates the Company's net revenue by channel. First Quarter 2026 2025 (In thousands) Company-operated stores $ 1,192,840 $ 1,153,107 E-commerce 997,442 960,890 Other channels 281,321 256,663 $ 2,471,603 $ 2,370,660
RevenueFromContractWithCustomerTextBlock
Segment reporting · 3,742 characters as filed
"Segmented Information The Company reports three segments: Americas, China Mainland, and Rest of World, which is comprised of its non-significant operating segments APAC and EMEA reported on a combined basis. The Company's segments are based on the financial information the Chief Operating Decision Maker (""CODM"") uses to evaluate performance and allocate resources. During 2025, the Company's then-chief executive officer (""CEO""), served as CODM. Effective January 31, 2026, the former CEO stepped down, and the Company's chief financial officer and its president and chief commercial officer were appointed as interim co-CEOs and together perform the CODM function during the interim period. On April 21, 2026, the Company entered into an employment agreement to appoint a new CEO effective September 8, 2026. The CODM approves the annual budget on a segment level, and regularly assesses the performance of the Company's segments using key financial metrics, including net revenue and segmented income from operations. The Company does not report capital expenditures and assets by segment as that information is not reviewed by the CODM. The following outlines segmented information: First Quarter 2026 Americas China Mainland Rest of World Total Segments Corporate (1) Total (In thousands) Net revenue $ 1,621,210 $ 478,395 $ 371,998 $ 2,471,603 $ $ 2,471,603 Product costs (2) 545,559 100,558 100,328 746,445 746,445 Other cost of sales (2) 183,972 63,556 72,009 319,537 66,803 386,340 Sel …
SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing
Source: SEC DERA Financial Statement and Notes data sets (txt.tsv), excerpts of the filer's own note text; the full note is in the linked filing. Excerpts are the first part of each note exactly as tagged in the filing; open the filing for the full text and the tables. Descriptive and educational, not advice.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.