lululemon athletica (LULU) FY2019 results: revenue $4.0 billion, up 21.0% on the year
lululemon athletica Inc. (LULU) reported revenue of $4.0 billion for fiscal 2019, the year ended 2 February 2020, up 21.0% on the year before. Net income was $646 million, up 33.4%, and diluted earnings per share $4.93. The figures are the company's own, from the 10-K it filed with the SEC on 26 March 2020.
Revenue
$4.0 billion
+21.0% on the year
FY2012FY2019
Operating margin
22.3%
21.5% a year earlier
FY2012FY2019
Net income
$646 million
+33.4% on the year
FY2012FY2019
Diluted EPS
$4.93
+36.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,979
3,288
2,649
+21.0%
Cost of revenue
1,756
1,472
1,250
+19.3%
Gross profit
2,223
1,816
1,399
+22.4%
Gross margin
55.9%
55.2%
52.8%
Selling, general and administrative
1,334
1,110
904
+20.2%
Operating income
889
706
456
+26.0%
Operating margin
22.3%
21.5%
17.2%
Pre-tax income
897
715
460
+25.5%
Income tax
252
231
201
+8.8%
Effective tax rate
28.1%
32.4%
43.8%
Net income
646
484
259
+33.4%
Net margin
16.2%
14.7%
9.8%
Diluted EPS
$4.93
$3.61
$1.90
+36.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
669
743
489
-9.9%
Capital expenditure
283
226
158
+25.3%
Free cash flow
386
517
331
-25.3%
Free cash flow margin
9.7%
15.7%
12.5%
Cash from investing
-278
-243
-173
Cash from financing
-177
-590
-97.9
Depreciation and amortisation
162
122
108
+32.2%
Share-based compensation
45.6
28.6
17.6
+59.6%
Buybacks
173
598
100
-71.0%
Diluted shares, weighted
131m
134m
136m
-2.3%
Shares outstanding at period end
124m
122m
126m
+2.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,952
1,446
1,597
+35.0%
Debt
0.0
0.0
0.0
Operating lease liabilities
611
0.0
n/a
Other liabilities
718
639
402
+12.4%
Total liabilities and equity
3,281
2,085
1,998
+57.4%
Fixed assets
672
567
474
+18.4%
Goodwill
24.2
24.2
24.6
-0.2%
Intangible assets
0.2
0.0
0.1
Cash and equivalents
1,094
881
991
+24.1%
Receivables
40.2
35.8
19.2
+12.4%
Inventory
519
405
330
+28.1%
Other assets
933
171
161
+444.7%
Total assets
3,281
2,085
1,998
+57.4%
10-K for the year ended 2 February 2020, filed 26 March 2020: the filing.