Lululemon Athletica (LULU) Operating Margin (2009 - 2026)
Lululemon Athletica (LULU) posted quarterly Operating Margin of 22.31% for Q1 2026, down 655.0% year-over-year from 4.02% in Q1 2025, and up 31.34% quarter-over-quarter from 16.99% in Q4 2025.
Lululemon Athletica (LULU) Operating Margin (2009 - 2026) Analysis & Trends
Lululemon Athletica's Operating Margin history runs 18 years deep, the most recent figure standing at 22.31% for Q1 2026.
- In Q1 2026, Operating Margin fell 655.0% year-over-year to 22.31%; the TTM figure through Feb 2026 stood at 19.91% (down 375.0% YoY), while the FY2026 annual figure was 19.91%, down 375.0% from the prior year.
- Operating Margin for Q1 2026 stood at 22.31%, up from 16.99% in the prior quarter.
- The five-year high for Operating Margin was 28.86% in Q1 2025, with the low at 11.34% in Q1 2023.
- The 5-year median for Operating Margin is 20.47% (2024), against an average of 20.68%.
- The sharpest annual moves came in 2023 and 2024: Operating Margin slumped 1639 bps in 2023, then jumped 1717 bps in 2024.
- Lululemon Athletica's Operating Margin stood at 18.98% in 2022, then fell by 19 bps to 15.34% in 2023, then jumped by 33 bps to 20.47% in 2024, then slipped by 17 bps to 16.99% in 2025, then jumped by 31 bps to 22.31% in 2026.
- Business Quant data shows LULU's Operating Margin at 22.31% in Q1 2026, 16.99% in Q4 2025, and 20.74% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Tjx Companies | 155.79 Bn | 150.21 Bn | 4.48 Bn | 11.77% |
| 2 | Ross Stores | 73.01 Bn | 68.88 Bn | 1.78 Bn | 13.38% |
| 3 | Burlington Stores | 20.93 Bn | 20.19 Bn | 1.26 Bn | -50.84% |
| 4 | Lululemon Athletica | 13.36 Bn | 11.84 Bn | 1.34 Bn | 11.21% |
| 5 | Gap | 7.23 Bn | 4.67 Bn | 1.42 Bn | 12.73% |
| 6 | Victoria's Secret | 7.03 Bn | 6.82 Bn | 585.00 Mn | 4.87% |
| 7 | Urban Outfitters | 6.38 Bn | 5.97 Bn | 542.57 Mn | 9.43% |
| 8 | Boot Barn Holdings | 4.90 Bn | 4.76 Bn | - | - |
| 9 | Abercrombie & Fitch | 4.70 Bn | 4.08 Bn | 682.63 Mn | 7.97% |
| 10 | American Eagle Outfitters | 2.69 Bn | 2.58 Bn | 456.17 Mn | 2.36% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Aug 1, 2021 | 20.06% |