How does Lululemon Athletica (LULU) make money?

Lululemon Athletica (LULU) generates revenue primarily from Women's Product, which accounted for 63% of total revenue in TTM through Q2 2026. The company reported $11.2B in revenue and converted 13% of it into net profit, equivalent to roughly $1.46B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Lululemon Athletica (LULU)?

Lululemon Athletica (LULU) reported a gross profit margin of 55.7% in TTM through Q2 2026, equivalent to $6.24B in gross profit on $11.2B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Lululemon Athletica (LULU)?

Lululemon Athletica (LULU) reported an operating profit margin of 18.2% in TTM through Q2 2026, equivalent to $2.04B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Lululemon Athletica (LULU)?

Lululemon Athletica (LULU) reported a net profit margin of 13% in TTM through Q2 2026, equivalent to $1.46B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Lululemon Athletica (LULU) profitable?

Yes. Lululemon Athletica (LULU) reported $1.46B in net income for TTM through Q2 2026, with a net profit margin of 13%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Lululemon Athletica (LULU) spend on capital expenditures?

Lululemon Athletica (LULU) spent $656M on capital expenditures (CapEx) during TTM through Q2 2026, roughly 5.9% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Lululemon Athletica (LULU) generate?

Lululemon Athletica (LULU) generated $1.28B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 11.4%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Lululemon Athletica (LULU)?

Lululemon Athletica (LULU) had an effective tax rate of 29.6% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Lululemon Athletica (LULU)?

Lululemon Athletica (LULU) reports revenue across 3 reportable product segments, led by Women's Product at 63% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Lululemon Athletica (LULU) generate most of its revenue?

UNITED STATES is the largest geographic market for Lululemon Athletica (LULU), accounting for 47.3% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Lululemon Athletica Makes Money: 2026 Visual Revenue Map

Lululemon Athletica (LULU) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending May 3, 2026 (reported June 4, 2026).

Lululemon Athletica (LULU) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Lululemon Athletica (LULU), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Women's Product	$7.06B	63%
Men's Product	$2.7B	24.1%
Other Segments	$1.44B	12.8%
Total	$11.2B	100%

Women's Product$7.06B
Men's Product$2.7B
Other Segments$1.44B
Total$11.2B

Lululemon Athletica (LULU) Revenue by Geography — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Lululemon Athletica (LULU), TTM through Q2 2026
Region	Revenue (USD)	% of total
UNITED STATES	$6.28B	47.3%
CHINA	$3.94B	29.7%
CANADA	$1.41B	10.6%
Outside Of North America	$1.34B	10.1%
Hong Kong SAR, Taiwan, and Macau SAR	$206M	1.6%
MEXICO	$101M	0.8%
Total	$13.3B	100%

UNITED STATES
CHINA
CANADA
Outside Of North America
Hong Kong SAR, Taiwan, and Macau SAR
MEXICO
Total

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Lululemon Athletica (LULU) reports revenue across 3 reportable product segments; the largest segment was Women's Product at 63%, followed by Men's Product (24.1%) and Other Segments (12.8%). Geographically, UNITED STATES accounted for 47.3% of revenue, followed by CHINA (29.7%) and CANADA (10.6%).

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