lululemon athletica (LULU) FY2014 results: revenue $1.8 billion, up 12.9% on the year
lululemon athletica Inc. (LULU) reported revenue of $1.8 billion for fiscal 2014, the year ended 1 February 2015, up 12.9% on the year before. Net income was $239 million, down 14.5%, and diluted earnings per share $1.66. The figures are the company's own, from the 10-K it filed with the SEC on 26 March 2015.
Revenue
$1.8 billion
+12.9% on the year
FY2008FY2014
Operating margin
20.9%
24.6% a year earlier
FY2008FY2014
Net income
$239 million
-14.5% on the year
FY2008FY2014
Diluted EPS
$1.66
-13.1% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,797
1,591
1,370
+12.9%
Cost of revenue
883
751
608
+17.6%
Gross profit
914
840
763
+8.8%
Gross margin
50.9%
52.8%
55.7%
Selling, general and administrative
538
449
386
+19.9%
Operating income
376
391
376
-3.9%
Operating margin
20.9%
24.6%
27.5%
Pre-tax income
383
397
381
-3.5%
Income tax
144
118
110
+22.6%
Effective tax rate
37.6%
29.6%
28.8%
Net income
239
280
271
-14.5%
Net margin
13.3%
17.6%
19.7%
Diluted EPS
$1.66
$1.91
$1.85
-13.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
314
278
280
+13.0%
Capital expenditure
120
106
93.2
+12.5%
Free cash flow
195
172
187
+13.3%
Free cash flow margin
10.8%
10.8%
13.6%
Cash from investing
-120
-106
-93.2
Cash from financing
-149
8.9
-5.5
Depreciation and amortisation
58.4
49.1
43.0
+18.9%
Share-based compensation
8.3
10.1
15.6
-18.0%
Buybacks
147
0.0
0.0
Diluted shares, weighted
144m
146m
146m
-1.2%
Shares outstanding at period end
132m
115m
112m
+14.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,090
1,097
887
-0.6%
Debt
0.0
0.0
n/a
Other liabilities
207
156
164
+32.7%
Total liabilities and equity
1,296
1,252
1,051
+3.5%
Fixed assets
296
256
215
+15.8%
Goodwill
24.4
25.3
5.2
-3.4%
Intangible assets
1.8
2.9
4.1
-40.1%
Cash and equivalents
664
699
590
-4.9%
Receivables
13.7
11.9
6.4
+15.5%
Inventory
208
189
155
+10.2%
Other assets
87.7
69.2
75.4
+26.7%
Total assets
1,296
1,252
1,051
+3.5%
10-K for the year ended 1 February 2015, filed 26 March 2015: the filing.