Lululemon Athletica
LULU · Apparel, Accessories & Luxury Goods
$99.01
4.9%PVH
PVH · Apparel, Accessories & Luxury Goods
$84.98
0.9%The short version
- Lululemon Athletica is the larger business, with $11.1B of revenue in fiscal 2025 against $9.0B for PVH.
- Lululemon Athletica grew revenue faster (4.9%, against 3.4%).
- Lululemon Athletica kept more of each dollar of sales as operating profit (19.9% operating margin, against 2.6% operating margin).
- Lululemon Athletica turned more of its sales into free cash flow (8.3% FCF margin, against 6.0% FCF margin).
- Lululemon Athletica earned a higher return on the capital invested in it (56.8%, against 1.8%).
| Latest fiscal year | LULU · FY25 | PVH · FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.2B | $3.9B |
| Revenue | $11.1B | $9.0B |
| Free cash flow | $922M | $538M |
| Net income | $1.6B | $25.3M |
| Growth | ||
| Revenue growth | 4.9% | 3.4% |
| 5-year growth | 20.3% | 4.6% |
| Share count change | −3.9% | −14.5% |
| Profitability | ||
| Gross margin | 56.6% | 57.5% |
| Operating margin | 19.9% | 2.6% |
| Net margin | 14.2% | 0.3% |
| FCF margin | 8.3% | 6.0% |
| Return on capital | 56.8% | 1.8% |
| Return on equity | 34.0% | 0.5% |
| Balance sheet | ||
| Net debt | −$1.8B | $1.6B |
| Net debt / EBITDA | −0.7x | 3.2x |
| Dividends and buybacks | $1.2B | $585M |
| Valuation & quality | ||
| P/E | 8.1x | — |
| Piotroski F-score | 5 | 6 |
FY16
LULU $2.3B
PVH $8.2B
FY17
LULU $2.6B
PVH $8.9B
FY18
LULU $3.3B
PVH $9.7B
FY19
LULU $4.0B
PVH $9.9B
FY20
LULU $4.4B
PVH $7.1B
FY21
LULU $6.3B
PVH $9.2B
FY22
LULU $8.1B
PVH $9.0B
FY23
LULU $9.6B
PVH $9.2B
FY24
LULU $10.6B
PVH $8.7B
FY25
LULU $11.1B
PVH $9.0B
LULU
PVH
FY16
LULU 18.0%
PVH 9.6%
FY17
LULU 17.2%
PVH 7.1%
FY18
LULU 21.5%
PVH 9.2%
FY19
LULU 22.3%
PVH 5.6%
FY20
LULU 18.6%
PVH −15.0%
FY21
LULU 21.3%
PVH 11.8%
FY22
LULU 16.4%
PVH 5.2%
FY23
LULU 22.2%
PVH 10.1%
FY24
LULU 23.7%
PVH 8.9%
FY25
LULU 19.9%
PVH 2.6%
LULU
PVH
FY16
LULU $237M
PVH $656M
FY17
LULU $331M
PVH $286M
FY18
LULU $517M
PVH $473M
FY19
LULU $386M
PVH $675M
FY20
LULU $574M
PVH $471M
FY21
LULU $995M
PVH $803M
FY22
LULU $328M
PVH −$251M
FY23
LULU $1.6B
PVH $725M
FY24
LULU $1.6B
PVH $582M
FY25
LULU $922M
PVH $538M
LULU
PVH
FY16
LULU 52.5%
PVH 8.9%
FY17
LULU 41.6%
PVH 8.2%
FY18
LULU 81.5%
PVH 10.5%
FY19
LULU 89.9%
PVH 6.4%
FY20
LULU 52.0%
PVH −11.5%
FY21
LULU 67.5%
PVH 16.1%
FY22
LULU 49.1%
PVH 3.7%
FY23
LULU 76.3%
PVH 10.9%
FY24
LULU 81.6%
PVH 10.0%
FY25
LULU 56.8%
PVH 1.8%
LULU
PVH
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