Lululemon Athletica (LULU) Operating Margin (2009 - 2026)
Lululemon Athletica (LULU) recorded Operating Margin of 18.78% in fiscal Q2 2027 (quarter ended Aug 2, 2026), down 1.96 percentage points from 20.74% a year earlier but up 7.57 percentage points from the prior quarter.
Lululemon Athletica (LULU) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Lululemon Athletica's Operating Margin came in at 17.84% as of Aug 2, 2026, down 5.05 percentage points year-over-year; for FY2026 (ended Feb 1, 2026), it was 19.91%, down 3.75 percentage points from FY2025.
- Annual Operating Margin has a five-year change of +1.28 percentage points (FY2021 to FY2026).
- Across earlier fiscal years, Operating Margin came in at 23.67% in FY2025 (+1.49 pp), 22.17% in FY2024 (+5.79 pp), 16.38% in FY2023 (-4.93 pp) and 21.31% in FY2022 (+2.68 pp).
- Quarterly Operating Margin has ranged from 11.21% in fiscal Q1 2027 to 28.86% in fiscal Q4 2025 over the past five years.
- On a year-over-year basis, Operating Margin has declined for six consecutive quarters, with an average year-over-year change of -2.12 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 17.17 percentage points in fiscal Q4 2024, against a drop of 16.39 percentage points in fiscal Q4 2023 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 11.21% (Q1 2027), 22.31% (Q4 2026) and 16.99% (Q3 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Nike | 52.47 Bn | 18.46 Bn | 5.39 Bn | 11.95% |
| 2 | Tapestry | 23.05 Bn | 19.01 Bn | 1.56 Bn | 23.57% |
| 3 | Ralph Lauren | 21.35 Bn | 13.45 Bn | 1.44 Bn | 17.47% |
| 4 | Deckers Outdoor | 11.12 Bn | 3.99 Bn | - | - |
| 5 | Lululemon Athletica | 10.25 Bn | 4.50 Bn | 1.46 Bn | 18.78% |
| 6 | Levi Strauss | 7.60 Bn | 4.25 Bn | 979.10 Mn | 7.82% |
| 7 | Gildan Activewear | 6.52 Bn | 5.51 Bn | 459.76 Mn | 11.12% |
| 8 | Birkenstock Holding | 5.97 Bn | 4.27 Bn | 493.89 Mn | 28.22% |
| 9 | Crocs | 5.64 Bn | 5.06 Bn | 700.71 Mn | 24.22% |
| 10 | V F | 5.53 Bn | 2.15 Bn | 917.04 Mn | -4.98% |
Historic Data
| Date | Value |
|---|---|
| Aug 2, 2026 | 18.78% |
| May 3, 2026 | 11.21% |
| Feb 1, 2026 | 22.31% |
| Nov 2, 2025 | 16.99% |
| Aug 3, 2025 | 20.74% |
| May 4, 2025 | 18.50% |
| Feb 2, 2025 | 28.86% |
| Oct 27, 2024 | 20.47% |
| Jul 28, 2024 | 22.78% |
| Apr 28, 2024 | 19.59% |
| Jan 28, 2024 | 28.51% |
| Oct 29, 2023 | 15.34% |
| Jul 30, 2023 | 21.69% |
| Apr 30, 2023 | 20.06% |
| Jan 29, 2023 | 11.34% |
| Oct 30, 2022 | 18.98% |
| Jul 31, 2022 | 21.47% |
| May 1, 2022 | 16.14% |
| Jan 30, 2022 | 27.74% |
| Oct 31, 2021 | 17.78% |
Lululemon Athletica Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=LULU&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "LULU", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=LULU&period=max&api_key=YOUR_API_KEY");
const data = await res.json();