Lululemon Athletica (LULU) Operating Margin (2009 - 2026)
Lululemon Athletica (LULU) recorded quarterly Operating Margin of 22.31% in Q1 2026, up 31.34% quarter-over-quarter from 16.99% in Q4 2025, and down 655.0% on a YoY basis from 4.02% in Q1 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 was 22.31% for Q1 2026 at Lululemon Athletica, up from 16.99% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 28.86% in Q1 2025 to a low of 11.34% in Q1 2023.
- Historically, Operating Margin has averaged 20.68% across 5 years, with a median of 20.47% in 2024.
- The sharpest annual moves came in 2023 and 2024: Operating Margin tumbled 1639 bps in 2023, then surged 1717 bps in 2024.
- A 5-year view of Operating Margin shows it stood at 18.98% in 2022, then retreated by 19 bps to 15.34% in 2023, then surged by 33 bps to 20.47% in 2024, then dropped by 17 bps to 16.99% in 2025, then surged by 31 bps to 22.31% in 2026.
- The last three Operating Margin figures came in at 22.31% (Q1 2026), 16.99% (Q4 2025), and 20.74% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Tjx Companies | 177.75 Bn | 172.17 Bn | 4.48 Bn | 11.77% |
| 2 | Ross Stores | 74.23 Bn | 69.64 Bn | 1.80 Bn | 12.27% |
| 3 | Burlington Stores | 19.90 Bn | 19.15 Bn | 1.26 Bn | 17.08% |
| 4 | Lululemon Athletica | 13.59 Bn | 11.78 Bn | 2.00 Bn | 22.31% |
| 5 | Gap | 7.91 Bn | 5.35 Bn | 1.42 Bn | 12.73% |
| 6 | Urban Outfitters | 6.43 Bn | 5.73 Bn | 599.20 Mn | -17.85% |
| 7 | Boot Barn Holdings | 5.12 Bn | 4.92 Bn | 281.24 Mn | 16.27% |
| 8 | Victoria's Secret | 4.37 Bn | 3.90 Bn | 855.00 Mn | 10.09% |
| 9 | Abercrombie & Fitch | 3.57 Bn | 2.80 Bn | 1.10 Bn | 14.13% |
| 10 | American Eagle Outfitters | 2.83 Bn | 2.59 Bn | 651.06 Mn | 5.29% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| May 2, 2021 | 15.80% |