Company Research Highlights ®

Report created on March 24, 2024

Lululemon Athletica NASDAQ:LULU Price on 3/22/2024:

Market Capitalization:
$403.19
$50.9 B
Consumer Discretionary Sector
Textiles, Apparel & Luxury Goods Industry
1818 Cornwall Avenue
Vancouver, BC V6J 1C7 Business Description Data provided by S&P Compustat

CAN Lululemon Athletica Inc., together with its subsidiaries, designs, distributes, and retails athletic
Telephone: 604 732 -6124 apparel, footwear, and accessories under the lululemon brand for women and men. It
operates in two segments, Company-Operated Stores and Direct to Consumer.
corporate.lululemon.com

Key Statistics 3-Year Price Performance Data provided by DataScope from Refinitiv

Employee Count 34,000

Institutional Ownership 93.3% 60%

Total Revenue (TTM) $3,205.10 50-Day Moving Average 40%

1/31/2024

Revenue Growth +18.60% 20%

(TTM vs. Prior TTM)
200-Day Moving Average 0%
Enterprise Value $50.1 B
3/22/2024
-20%
Ex. Dividend Date --
Average Monthly Volume (Millions) 50
Dividend -- 25
0
Dividend Yield (Annualized) -- Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
P/E (TTM) 33.0 2021 2022 2023 2024
3/22/2024

Earning Yield (TTM) +3.03%

3/22/2024
Trading Characteristics
EPS (Adjusted TTM) $5.29
3/21/2024 52 Week High $516.39 Price Performance (% Change) Volume
12/29/2023
Consensus EPS Estimate $2.40 4 Week -11.9 Average 10-Day 3,338,596.0
(Q1 2024) 52 Week Low $300.78
3/22/2023 13 Week -20.9 Average 90-Day 1,615,061.1
EPS Growth +82.8%
(TTM vs. Prior TTM) % Price Above/Below 52 Week 32.7 Shares Outstanding 121,075,000
20-Day Average -12.3 1 Year Annualized as of 3/22/2024

50-Day Average -13.1 Total Return +32.75%

200-Day Average -4.3 Standard Deviation 0.30

Beta 1.21

Environmental, Social & Governance Summary (ESG)

Environmental, Social & Governance Summary (ESG)
PROVIDED BY MSCI
RATING LULU INDUSTRY
Overall LEADER
Environment AVERAGE
Social AVERAGE
Governance LEADER
TRBC Industry: Apparel / Accessories

Risk: Leader = Top 25% Average = Middle 50% Laggard = Bottom 25%

Important Information Regarding Third-Party Content

This is not an investment recommendation from Fidelity Investments. Fidelity provides this information as a service to investors from independent, third-party sources. Page 1
Performance of analyst recommendations are provided by StarMine from Refinitiv. Current analyst recommendations are collected and standardized by Investars.
See each section in this report for third-party content attribution, as well as the final page of the report for additional important information regarding third-party content.
 ®
Company Research Highlights This is not an investment recommendation from Fidelity Investments. The information
contained in this report is sourced from independent, third party providers. NASDAQ LULU
Price on 3/22/2024: $403.19 Consumer Discretionary Sector
Market Capitalization: $50.9 B Textiles, Apparel & Luxury Goods Industry Lululemon Athletica
Equity Summary Score is a weighted, Equity Summary Score (8 Firms†) Provided by StarMine from Refinitiv as of 3/24/2024
aggregated view of opinions from the
independent research firms on Fidelity.com. Starmine LULU Equity Summary Score
It uses the past accuracy of these firms in Firm1 Relative Accuracy2 Standardized Opinion 3 8 Firms†
determining the emphasis placed on any Ford Equity Research (i) 95 Neutral 10
VERY BULLISH
individual opinion. Refinitiv/Verus (i) 37 Neutral 9
Zacks Investment Research, Inc (i) 30 Neutral BULLISH
First Call Consensus Recommendation ISS-EVA (i) 91 Neutral 7
is provided by I/B/E/S from Refinitiv, an Jefferson Research (i) 68 Buy Neutral
independent third-party research provider, NEUTRAL
Trading Central (i) 70 Neutral
using information gathered from
contributors. The number of contributors for
McLean Capital Management (i) 45 Neutral 5.2
3
each security where there is a consensus Argus Research A6/Quantitative (i) 85 Neutral
BEARISH
• Opinion used in Equity Summary Score
recommendation is provided. Each 1
VERY BEARISH
contributor determines how their individual 0
recommendation scale maps to the I/B/E/S
from Refinitiv 5-point scale.
Firm Opinions Provided by Investars as of 3/23/2024
Visit Fidelity.com for firm descriptions, STANDARDIZED OPINION CURRENT FIRM OPINION
detailed methodologies, and more Investars
Firm1 / Aggregate Opinion Opinion 1 Year History Smartindex Date Opinion
information on the Equity Summary Score,
First Call Consensus, opinion history and Oppenheimer & Company Outperform -8.91% 12/08/23 Outperform
performance, and most current available Raymond James Outperform -1.24% 12/05/23 Outperform
research reports for LULU. KeyBanc Capital Markets Buy 6.44% 03/22/24 Buy
Needham Buy -28.83% 03/22/24 Buy
Bernstein Neutral 27.70% 03/22/24 Market Perform
1. (i) after the Firm Name indicates an
independent firm that derives no Stifel Nicolaus Buy -6.72% 03/22/24 Buy
financial benefit from the nature of their Jefferies Underperform -0.21% 02/13/24 Underperform
recommendations.
CSFB Outperform 7.20% 03/29/23 Outperform
2. StarMine from Refinitiv Relative Accuracy Merrill Lynch Buy 5.17% 03/22/24 Buy
is based on a statistical aggregation of
how well a firm performed on all of its Wells Fargo Securities Neutral 4.57% 03/21/24 Market Perform
individual stock recommendations in a UBS Neutral 24.23% 12/08/23 Neutral
given sector. StarMine from Refinitiv first Morgan Stanley Outperform 1.37% 03/22/24 Overweight (o)
calculates the individual scores for each
set of recommendations for a single William Blair & Company Outperform -14.40% 12/29/23 Outperform
stock over a 24 month period. Then Wedbush Morgan Buy 12.79% 03/22/24 Outperform
StarMine from Refinitiv rolls up these
Citigroup Investment Research Buy 15.39% 03/22/24 Buy
individual performance scores into a
firm's sector score. Baird Outperform 3.66% 01/05/24 Outperform
3. Each firm has its own recommendation Deutsche Bank Buy 12.88% 12/08/23 Buy
categories, making it difficult to compare Piper Jaffray Outperform -1.64% 03/22/24 Overweight
one firm’s recommendation to another’s. Truist Securities, Inc Buy 5.76% 03/22/24 Buy
Investars, a third-party research
company, collects and standardizes Argus Analyst Buy 13.63% 12/08/23 Buy
these recommendations using a Ford Equity Research (i) Neutral 20.98% 03/22/24 3
five-point scale. Refinitiv/Verus (i) Neutral 16.34% 03/18/24 Hold
† The Equity Summary Score provided by Zacks Investment Research, Inc (i) Neutral 14.88% 03/23/24 Neutral
StarMine from Refinitiv is current as of
the date specified. There may be ISS-EVA (i) Neutral 8.89% 03/01/24 Hold
differences between the Equity Summary Jefferson Research (i) Buy 10.80% 03/22/24 Buy
Score analyst count and the number of Trading Central (i) Neutral 7.75% 03/17/24 Neutral
underlying analysts listed. Due to the
timing in receiving ratings changes into McLean Capital Management (i) Neutral 19.31% 03/18/24 Neutral
the Equity Summary Score model, the Argus Research A6/Quantitative (i) Neutral 18.49% 03/21/24 Hold
Equity Summary Score analyst count I/B/E/S Estimates from Refinitiv -- -- 03/22/24 Buy
may lag the ratings count displayed by
one or more days. There may also be Equity Summary Score (8 Firms†) -- -- 03/24/24 Neutral
analyst count variations for symbols with • Opinion used in Equity Summary Score
multiple share classes and ADRs. More
details on Equity Summary Score
calculation are included in the
Understanding and Using the Equity
Summary Score Methodology (PDF).

Report created on March 24, 2024

The content on this page is provided by third parties and not Fidelity. Fidelity did not prepare and does not endorse such content. All are third-party companies that are not affiliated with Fidelity. Page 2
See each section in this report for third-party content attribution and see page 4 for full disclosures.
 ®
Company Research Highlights This is not an investment recommendation from Fidelity Investments. The information
contained in this report is sourced from independent, third party providers. NASDAQ LULU
Price on 3/22/2024: $403.19 Consumer Discretionary Sector
Market Capitalization: $50.9 B Textiles, Apparel & Luxury Goods Industry Lululemon Athletica
Recent Recap Actuals vs. Estimates by Fiscal Quarter Data provided by I/B/E/S from Refinitiv

ACTUALS ESTIMATES STARMINE ESTIMATES LULU PRICE Earnings in US Dollars

Last Report: Q4 Earnings on 03/21/24 Today
Reported Earnings: $5.29 per share $600
Next Expected Report Date: 05/30/24

LULU exceeded the First Call Consensus of

$5.004 and exceeded the StarMine $400
SmartEstimate from Refinitiv of $5.021 for
Q4 2023.

About Starmine SmartEstimate 3.37 1.48 2.20 2.00 4.40 2.28 2.68 2.53 5.29 $200
The StarMine SmartEstimate from Refinitiv Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
seeks to be more accurate than the 2022 2023
consensus EPS by calculating an analyst's
accuracy and timeliness of an analyst's
Actuals vs. Estimates for Fiscal Year
estimates into its estimate of earnings.
First Call Estimates
Actual ($) Consensus ($) Analysts in Consensus Low / High Range ($)
Previous Year (Ends 01/31/24) 12.77 12.46 30 11.84 / 12.65
Next Year (Ends 01/31/25) -- 14.11 31 12.30 / 14.61

Industry Comparisons** Data provided by S&P Compustat

Valuation Ratios (trailing 12 months) LULU Industry LULU Percentile Rank in Industry
Price / Earnings 33.0 27.7 84
PEG Ratio 2.7 2.2 100
Enterprise Value $0.00 $0.00 98
Price / Sales 5.3 4.0 94
Price / Book 14.0 7.7 100
Price / Cash Flow 28.0 32.9 81
0: Worst Best: 100
Company Quality Ratios LULU Industry LULU Percentile Rank in Industry
Gross Profit Margin (Trailing 12 Months) 61.4% 52.6 75
Operating Margin (Trailing 12 Months) 23.2% 14.5 100
Return on Assets (Trailing 12 Months) 25.1% 13.6 100
Return on Equity (Trailing 12 Months) 42.4% 36.9 94
0: Worst Best: 100
Growth Rates (%) LULU Industry LULU Percentile Rank in Industry
Revenue Growth (Trailing 12 Months vs. Prior Trailing 12 Months) +18.6% +10.6 97
EPS Growth (Trailing 12 Months vs. Prior Trailing 12 Months) +82.8% +20.4 83
Revenue % Change (Trailing 12 Months) +15.63% +2.87 89
0: Worst Best: 100

** The Industry Average and Percentile Rank methodology is based on the daily list of U.S. equity securities in each industry to which a company belongs, as
determined by Standard & Poor's. S&P uses the Global Industry Classification Standard (GICS)SM, an industry classification system developed by S&P in
collaboration with Morgan Stanley Capital International (MSCI).
A company is assigned to a single GICS sub-industry according to the definition of its principal business activity as determined by Standard & Poor's and MSCI.
Revenues are a significant factor in defining principal business activity; however, earnings analysis and market perception are also important criteria for
classification.
Securities are first grouped into their respective S&P GIC Industry, null values are removed and then the percentile is computed. The percentile is the value of a
variable below which a certain percent of observations fall. So the 20th percentile is the value (or score) below which 20 percent of the observations may be
found. Sometimes, being in the 100th percentile is not the best for items such as Debt to Capital Ratio where a lower number means less debt. Therefore, being
in the 1st percentile indicates lower debt than its peers in the industry.
The Industry Average is a market cap-weighted average of the non-null values in the industry.

Report created on March 24, 2024

The content on this page is provided by third parties and not Fidelity. Fidelity did not prepare and does not endorse such content. All are third-party companies that are not affiliated with Fidelity. Page 3
See each section in this report for third-party content attribution.
 ®
Company Research Highlights This is not an investment recommendation from Fidelity Investments. The information
contained in this report is sourced from independent, third party providers. NASDAQ LULU
Price on 3/22/2024: $403.19 Consumer Discretionary Sector
Market Capitalization: $50.9 B Textiles, Apparel & Luxury Goods Industry Lululemon Athletica
Important Information Regarding Third-Party Content
The content compiled in this report is provided by third parties and not Fidelity. Fidelity did not prepare and does not endorse such content. Historical prices provided by Datascope from
Refinitiv. Fundamental data provided by Standard & Poor’s Compustat®. Earnings estimates provided by Refinitiv. Analyst recommendations performance measurement provided by
StarMine from Refinitiv. Analyst recommendations data and analysis provided by Investars. All are third-party companies that are not affiliated with Fidelity.

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Report created on March 24, 2024

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