lululemon athletica (LULU) FY2020 results: revenue $4.4 billion, up 10.6% on the year
lululemon athletica Inc. (LULU) reported revenue of $4.4 billion for fiscal 2020, the year ended 31 January 2021, up 10.6% on the year before. Net income was $589 million, down 8.8%, and diluted earnings per share $4.50. The figures are the company's own, from the 10-K it filed with the SEC on 30 March 2021.
Revenue
$4.4 billion
+10.6% on the year
FY2013FY2020
Operating margin
18.6%
22.3% a year earlier
FY2013FY2020
Net income
$589 million
-8.8% on the year
FY2013FY2020
Diluted EPS
$4.50
-8.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,402
3,979
3,288
+10.6%
Cost of revenue
1,938
1,756
1,472
+10.4%
Gross profit
2,464
2,223
1,816
+10.8%
Gross margin
56.0%
55.9%
55.2%
Selling, general and administrative
1,609
1,334
1,110
+20.6%
Operating income
820
889
706
-7.8%
Operating margin
18.6%
22.3%
21.5%
Pre-tax income
819
897
715
-8.7%
Income tax
230
252
231
-8.5%
Effective tax rate
28.1%
28.1%
32.4%
Net income
589
646
484
-8.8%
Net margin
13.4%
16.2%
14.7%
Diluted EPS
$4.50
$4.93
$3.61
-8.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
803
669
743
+20.0%
Capital expenditure
229
283
226
-19.0%
Free cash flow
574
386
517
+48.6%
Free cash flow margin
13.0%
9.7%
15.7%
Cash from investing
-696
-278
-243
Cash from financing
-80.8
-177
-590
Depreciation and amortisation
185
162
122
+14.5%
Share-based compensation
50.8
45.6
28.6
+11.4%
Buybacks
63.7
173
598
-63.3%
Diluted shares, weighted
131m
131m
134m
-0.1%
Shares outstanding at period end
125m
124m
122m
+0.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,559
1,952
1,446
+31.1%
Debt
0.0
0.0
0.0
Operating lease liabilities
633
611
0.0
+3.5%
Other liabilities
994
718
639
+38.5%
Total liabilities and equity
4,185
3,281
2,085
+27.5%
Fixed assets
746
672
567
+11.0%
Goodwill
387
24.2
24.2
+1,499.9%
Intangible assets
80.1
0.2
0.0
+33,128.2%
Cash and equivalents
1,151
1,094
881
+5.2%
Receivables
62.4
40.2
35.8
+55.1%
Inventory
647
519
405
+24.8%
Other assets
1,112
933
171
+19.2%
Total assets
4,185
3,281
2,085
+27.5%
10-K for the year ended 31 January 2021, filed 30 March 2021: the filing.