Income Statement Snapshot

lululemon athletica inc.’s top-line, gross profit, operating income, and bottom-line conversion. Values are shown in USD millions.

Revenue

FY2026

15.4% CAGR

$11.1B

CAGR 15.4% (FY2022 to FY2026)

Gross Profit

FY2026

14.9% CAGR

$6.3B

CAGR 14.9% (FY2022 to FY2026)

Operating Income

FY2026

13.5% CAGR

$2.2B

CAGR 13.5% (FY2022 to FY2026)

Net Income

FY2026

12.8% CAGR

$1.6B

CAGR 12.8% (FY2022 to FY2026)

Metric	2026	2025	2024	2023	2022
Revenue	$11,103	$10,588	$9,619	$8,111	$6,257
Gross Profit	$6,284	$6,271	$5,609	$4,492	$3,609
Operating Income	$2,211	$2,506	$2,133	$1,328	$1,333
Net Income	$1,579	$1,815	$1,550	$855	$975
Filing	10-K	10-K	10-K	10-K	10-K

All values shown in USD millions unless noted otherwise.

Expanded Line Items

The full annual income statement layer for lululemon athletica inc..
Values are displayed in USD millions, except per-share and share-count rows.

Line Item	2026	2025	2024	2023	2022
Total Revenue	$11,103	$10,588	$9,619	$8,111	$6,257
Cost of Revenue	$4,818	$4,317	$4,010	$3,618	$2,648
Gross Profit	$6,284	$6,271	$5,609	$4,492	$3,609
Selling, General & Administrative	$4,067	$3,762	$3,397	$2,757	$2,225
Operating Income	$2,211	$2,506	$2,133	$1,328	$1,333
Other Non-Operating Income (Expense)	$28	$70	$43	$4	$1
Pretax Income	$2,239	$2,576	$2,176	$1,333	$1,334
Income Tax Expense (Benefit)	$660	$761	$626	$478	$359
Net Income	$1,579	$1,815	$1,550	$855	$975
Basic EPS	$13.27	$14.67	$12.23	$6.70	$7.52
Diluted EPS	$13.26	$14.64	$12.20	$6.68	$7.49
Basic Average Shares	119.0M	123.7M	126.7M	127.7M	129.8M
Diluted Average Shares	119.1M	123.9M	127.1M	128.0M	130.3M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from SEC Edgar Database for lululemon athletica inc.

Margins

Profitability Conversion

Track how much of revenue survives through gross profit,operating income, and net income across the annual reporting window.

Gross Margin

FY2026

vs FY2022

56.6%

Change vs FY2022: -108 bps

Operating Margin

FY2026

vs FY2022

19.9%

Change vs FY2022: -140 bps

Net Margin

FY2026

vs FY2022

14.2%

Change vs FY2022: -137 bps

Observation Window

FY2022 to FY2026

5 years

5 Years

Profitability profile tracked across FY2022 through FY2026.

Margin Table

Side-by-side read of gross, operating, and net margin.

Margin Trends

Read the shape of profitability with either a discrete bar view or a cleaner line trajectory.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

YoY Change

Annual Momentum

Compare the latest fiscal year against the immediately prior period across every headline income statement line.

Revenue YoY

FY2026 vs FY2025

YoY change

+4.9%

FY2026 versus FY2025

Gross Profit YoY

FY2026 vs FY2025

YoY change

+0.2%

FY2026 versus FY2025

Op. Income YoY

FY2026 vs FY2025

YoY change

-11.8%

FY2026 versus FY2025

Net Income YoY

FY2026 vs FY2025

YoY change

-13.0%

FY2026 versus FY2025

YoY Table

Negative values are highlighted to make slowdowns obvious.

Metric	2026	2025	2024	2023	2022
Revenue Growth %	+4.9%	+10.1%	+18.6%	+29.6%	N/A
Gross Profit Growth %	+0.2%	+11.8%	+24.9%	+24.5%	N/A
Operating Income Growth %	-11.8%	+17.5%	+60.5%	-0.4%	N/A
Net Income Growth %	-13.0%	+17.1%	+81.4%	-12.4%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum Chart

The most direct way to see whether the business is accelerating or rolling over.

YoY change compares each annual period against the immediately prior year inside the selected window.

CAGR

Through-Cycle Growth

Compounded annual growth rate from FY2022 to FY2026, useful for filtering out one-year noise.

Revenue CAGR

FY2022 to FY2026

4-yr CAGR

15.4%

Compounded annual growth across FY2022 to FY2026.

Gross Profit CAGR

FY2022 to FY2026

4-yr CAGR

14.9%

Compounded annual growth across FY2022 to FY2026.

Op. Income CAGR

FY2022 to FY2026

4-yr CAGR

13.5%

Compounded annual growth across FY2022 to FY2026.

Net Income CAGR

FY2022 to FY2026

4-yr CAGR

12.8%

Compounded annual growth across FY2022 to FY2026.

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Income Statement Snapshot

lululemon athletica inc.’s top-line, gross profit, operating income, and bottom-line conversion. Values are shown in USD millions.

Revenue

FY2026

15.4% CAGR

$11.1B

CAGR 15.4% (FY2022 to FY2026)

Gross Profit

FY2026

14.9% CAGR

$6.3B

CAGR 14.9% (FY2022 to FY2026)

Operating Income

FY2026

13.5% CAGR

$2.2B

CAGR 13.5% (FY2022 to FY2026)

Net Income

FY2026

12.8% CAGR

$1.6B

CAGR 12.8% (FY2022 to FY2026)

Metric	2026	2025	2024	2023	2022
Revenue	$11,103	$10,588	$9,619	$8,111	$6,257
Gross Profit	$6,284	$6,271	$5,609	$4,492	$3,609
Operating Income	$2,211	$2,506	$2,133	$1,328	$1,333
Net Income	$1,579	$1,815	$1,550	$855	$975
Filing	10-K	10-K	10-K	10-K	10-K

All values shown in USD millions unless noted otherwise.

Expanded Line Items

The full annual income statement layer for lululemon athletica inc..
Values are displayed in USD millions, except per-share and share-count rows.

Line Item	2026	2025	2024	2023	2022
Total Revenue	$11,103	$10,588	$9,619	$8,111	$6,257
Cost of Revenue	$4,818	$4,317	$4,010	$3,618	$2,648
Gross Profit	$6,284	$6,271	$5,609	$4,492	$3,609
Selling, General & Administrative	$4,067	$3,762	$3,397	$2,757	$2,225
Operating Income	$2,211	$2,506	$2,133	$1,328	$1,333
Other Non-Operating Income (Expense)	$28	$70	$43	$4	$1
Pretax Income	$2,239	$2,576	$2,176	$1,333	$1,334
Income Tax Expense (Benefit)	$660	$761	$626	$478	$359
Net Income	$1,579	$1,815	$1,550	$855	$975
Basic EPS	$13.27	$14.67	$12.23	$6.70	$7.52
Diluted EPS	$13.26	$14.64	$12.20	$6.68	$7.49
Basic Average Shares	119.0M	123.7M	126.7M	127.7M	129.8M
Diluted Average Shares	119.1M	123.9M	127.1M	128.0M	130.3M
Filing	10-K	10-K	10-K	10-K	10-K

Expanded annual statement lines sourced from SEC Edgar Database for lululemon athletica inc.

Margins

Profitability Conversion

Track how much of revenue survives through gross profit,operating income, and net income across the annual reporting window.

Gross Margin

FY2026

vs FY2022

56.6%

Change vs FY2022: -108 bps

Operating Margin

FY2026

vs FY2022

19.9%

Change vs FY2022: -140 bps

Net Margin

FY2026

vs FY2022

14.2%

Change vs FY2022: -137 bps

Observation Window

FY2022 to FY2026

5 years

5 Years

Profitability profile tracked across FY2022 through FY2026.

Margin Table

Side-by-side read of gross, operating, and net margin.

Margin Trends

Read the shape of profitability with either a discrete bar view or a cleaner line trajectory.

Margins are calculated from annual SEC facts using reported revenue as the denominator.

YoY Change

Annual Momentum

Compare the latest fiscal year against the immediately prior period across every headline income statement line.

Revenue YoY

FY2026 vs FY2025

YoY change

+4.9%

FY2026 versus FY2025

Gross Profit YoY

FY2026 vs FY2025

YoY change

+0.2%

FY2026 versus FY2025

Op. Income YoY

FY2026 vs FY2025

YoY change

-11.8%

FY2026 versus FY2025

Net Income YoY

FY2026 vs FY2025

YoY change

-13.0%

FY2026 versus FY2025

YoY Table

Negative values are highlighted to make slowdowns obvious.

Metric	2026	2025	2024	2023	2022
Revenue Growth %	+4.9%	+10.1%	+18.6%	+29.6%	N/A
Gross Profit Growth %	+0.2%	+11.8%	+24.9%	+24.5%	N/A
Operating Income Growth %	-11.8%	+17.5%	+60.5%	-0.4%	N/A
Net Income Growth %	-13.0%	+17.1%	+81.4%	-12.4%	N/A
Filing	10-K	10-K	10-K	10-K	10-K

Momentum Chart

The most direct way to see whether the business is accelerating or rolling over.

YoY change compares each annual period against the immediately prior year inside the selected window.

CAGR

Through-Cycle Growth

Compounded annual growth rate from FY2022 to FY2026, useful for filtering out one-year noise.

Revenue CAGR

FY2022 to FY2026

4-yr CAGR

15.4%

Compounded annual growth across FY2022 to FY2026.

Gross Profit CAGR

FY2022 to FY2026

4-yr CAGR

14.9%

Compounded annual growth across FY2022 to FY2026.

Op. Income CAGR

FY2022 to FY2026

4-yr CAGR

13.5%

Compounded annual growth across FY2022 to FY2026.

Net Income CAGR

FY2022 to FY2026

4-yr CAGR

12.8%

Compounded annual growth across FY2022 to FY2026.

Commentary on lululemon athletica inc. Performance

Over the past five years, lululemon’s revenue has shown healthy growth, expanding from about 6,257 million USD in 2022 to roughly 11,103 million USD in 2026. Notably, the company posted a nearly 30% jump in revenue between 2022 and 2023, indicating strong market demand or successful expansion strategies. Gross profit mirrored this upward trend, with significant year‐over‐year gains of approximately 24–25% in the early years, although growth tempered by 2026. The operating income profile, however, presents a mixed picture. It remained nearly flat from 2022 to 2023, followed by a substantial 60% increase from 2023 to 2024, suggesting that operational efficiencies or scale effects began to materialize. Net income similarly dipped between 2022 and 2023 but then surged sharply—by around 81% from 2023 to 2024—before experiencing moderate increases, highlighting a recovery in profitability despite short‐term setbacks. Overall, while lululemon’s top‐line performance and gross profit expansion reflect solid revenue and market positioning in the competitive athletic apparel sector, the volatility in operating and net income warrants attention. The decline in operating income and net income from 2025 to 2026, despite continued revenue growth, may indicate rising operational costs or shifting cost structures that are pressuring margins. Nonetheless, the company’s ability to rebound profitably in 2024 and sustain revenue momentum suggests a fundamentally sound financial base. Moving forward, close monitoring of cost management and operational efficiency will be key for sustaining profitability and ensuring long-term financial health in a dynamic market environment.

This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.

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LULU Income Statement

Income Statement Snapshot

Income Statement Snapshot

Commentary on lululemon athletica inc. Performance

Commentary on lululemon athletica inc. Performance