Lululemon Athletica Inc. (LULU) Balance Sheet
LULU balance sheet, FY2026
January 31, 2026 · U.S. dollars$8.46B assets = $3.49B liabilities + $4.96B equity
Both columns are drawn to the same scale: what LULU owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LULU financial health
Descriptive bands, not a rating. Fiscal FY2026.
LULU balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.66BFY2017 | $8.46BFY2026 | +19.8%/yr | |
| Total liabilities | $297.6MFY2017 | $3.49BFY2026 | +31.5%/yr | |
| Shareholders’ equity | $1.36BFY2017 | $4.96BFY2026 | +15.5%/yr | |
| Cash & short-term investments | $734.8MFY2017 | $1.81BFY2026 | +10.5%/yr | |
| Total debt | $40.5MFY2017 | $1.80BFY2026 | +52.4%/yr | |
| Net cash (debt) | $694.4MFY2017 | $8.8MFY2026 | −$685.6M | |
| Working capital | $921.3MFY2017 | $2.38BFY2026 | +$1.5B | |
| Book value per share | $9.90FY2017 | $41.67FY2026 | +17.3%/yr | |
| Current ratio | 4.82FY2017 | 2.26FY2026 | −2.56 | |
| Debt / equity | 0.03FY2017 | 0.36FY2026 | +0.33 | |
| Shares outstanding | 137.3MFY2017 | 119.1MFY2026 | −1.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LULU assets
LULU liabilities and equity
LULU debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LULU balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.81B | $1.98B | $2.24B | $1.15B | $1.26B | $1.15B | $881.3M | $881.3M | $990.5M | $734.8M |
| Cash & equivalents | $1.81B | $1.98B | $2.24B | $1.15B | $1.26B | $1.15B | $881.3M | $881.3M | $990.5M | $734.8M |
| Short-term investments | — | $8,000 | $8,000 | $8,000 | $318.7M | $183.0M | $203.4M | $63.5M | — | — |
| Receivables | $543.1M | $302.4M | $124.8M | $132.9M | $77.0M | $75.7M | $35.8M | $85.2M | $68.1M | $90.4M |
| Inventory | $1.70B | $1.44B | $1.32B | $1.45B | $966.5M | $647.2M | $404.8M | $404.8M | $329.6M | $298.4M |
| Other current assets | $211.6M | $251.5M | $368.2M | $424.3M | $311.5M | $250.9M | $107.3M | $57.9M | $48.1M | $39.1M |
| Total current assets | $4.26B | $3.98B | $4.06B | $3.16B | $2.61B | $2.12B | $1.43B | $1.43B | $1.44B | $1.16B |
| Property, plant & equipment (net) | $3.66B | $3.20B | $2.81B | $2.24B | $1.73B | $1.48B | $567.2M | $567.2M | $473.6M | $423.5M |
| Goodwill & intangible assets | $191.2M | $171.2M | $24.1M | $46.1M | $458.2M | $467.0M | $24.5M | $50.9M | $24.7M | $24.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $338.9M | $254.9M | $195.9M | $162.4M | $138.2M | $113.4M | $63.7M | $37.3M | $63.9M | $46.7M |
| Total assets | $8.46B | $7.60B | $7.09B | $5.61B | $4.94B | $4.19B | $2.08B | $2.08B | $2.00B | $1.66B |
| Liabilities | ||||||||||
| Accounts payable | $331.4M | $271.4M | $348.4M | $172.7M | $289.7M | $172.2M | $95.5M | $95.5M | $24.6M | $24.8M |
| Short-term debt | $298.7M | $275.2M | $249.3M | $208.0M | $189.0M | $166.1M | $192.8M | $192.8M | $178.9M | $40.5M |
| Deferred revenue | $316.6M | $308.4M | $306.5M | $251.5M | $208.2M | $155.8M | $99.4M | $107.5M | $85.1M | $70.5M |
| Total current liabilities | $1.89B | $1.84B | $1.63B | $1.49B | $1.41B | $883.2M | $500.5M | $500.5M | $292.6M | $241.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $1.80B | $1.58B | $1.15B | $862.4M | $692.1M | $632.6M | $547.1M | — | — | — |
| Other long-term liabilities | $1.61B | $1.44B | $1.23B | $966.0M | $797.1M | $743.5M | $138.3M | $138.3M | $108.9M | $56.1M |
| Total liabilities | $3.49B | $3.28B | $2.86B | $2.46B | $2.20B | $1.63B | $638.7M | $638.7M | $401.5M | $297.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $557,000 | $581,000 | $606,000 | $611,000 | $616,000 | $626,000 | $608,000 | $608,000 | $628,000 | $637,000 |
| Retained earnings (deficit) | $4.52B | $4.11B | $3.92B | $2.93B | $2.51B | $2.35B | $1.35B | $1.35B | $1.46B | $1.29B |
| Accumulated other comprehensive income | −$230.7M | −$424.4M | −$264.3M | −$252.6M | −$195.9M | −$177.2M | −$216.8M | −$216.8M | −$142.9M | −$201.5M |
| Total shareholders' equity | $4.96B | $4.32B | $4.23B | $3.15B | $2.74B | $2.56B | $1.45B | $1.45B | $1.60B | $1.36B |
| Key figures | ||||||||||
| Total debt | $1.80B | $1.58B | $1.40B | $1.07B | $881.1M | $798.7M | $740.0M | $192.8M | $6.4M | $40.5M |
| Net cash (debt) | $8.8M | $408.5M | $840.7M | $84.5M | $378.8M | $351.8M | $141.4M | $688.5M | $984.1M | $694.4M |
| Working capital | $2.38B | $2.14B | $2.43B | $1.67B | $1.21B | $1.24B | $928.8M | $928.8M | $1.14B | $921.3M |
| Tangible book value | $4.77B | $4.15B | $4.21B | $3.10B | $2.28B | $2.09B | $1.42B | $1.40B | $1.57B | $1.34B |
| Book value per share | $41.67 | $34.89 | $33.31 | $24.60 | $21.03 | $19.55 | $10.79 | $10.79 | $11.73 | $9.90 |
| Shares outstanding | 119.1M | 123.9M | 127.1M | 128.0M | 130.3M | 130.9M | 134.0M | 134.0M | 136.2M | 137.3M |
| Current ratio | 2.26 | 2.16 | 2.49 | 2.12 | 1.86 | 2.41 | 2.86 | 2.86 | 4.91 | 4.82 |
| Quick ratio | 1.25 | 1.24 | 1.45 | 0.86 | 0.95 | 1.39 | 1.83 | 1.93 | 3.62 | 3.42 |
| Debt / equity | 0.36 | 0.36 | 0.33 | 0.34 | 0.32 | 0.31 | 0.51 | 0.13 | 0.00 | 0.03 |
| Equity / assets | 58.7% | 56.9% | 59.7% | 56.2% | 55.4% | 61.1% | 69.4% | 69.4% | 79.9% | 82.0% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.39B | $1.51B | $1.81B | $1.04B | $1.16B | $1.33B | $1.98B | $1.19B | $1.61B | $1.90B | $2.24B | $1.09B |
| Cash & equivalents | $1.39B | $1.51B | $1.81B | $1.04B | $1.16B | $1.33B | $1.98B | $1.19B | $1.61B | $1.90B | $2.24B | $1.09B |
| Short-term investments | — | — | — | — | — | — | — | — | $31,000 | $8,000 | $8,000 | $47,000 |
| Receivables | $171.2M | $587.1M | $543.1M | $680.6M | $462.5M | $371.5M | $302.4M | $400.8M | $337.1M | $319.3M | $308.5M | $407.3M |
| Inventory | $1.71B | $1.69B | $1.70B | $2.00B | $1.72B | $1.65B | $1.44B | $1.80B | $1.43B | $1.35B | $1.32B | $1.66B |
| Other current assets | $673.2M | $205.6M | $211.6M | $209.3M | $187.9M | $233.6M | $251.5M | $215.2M | $195.5M | $202.8M | $184.5M | $202.9M |
| Total current assets | $3.95B | $3.99B | $4.26B | $3.92B | $3.53B | $3.58B | $3.98B | $3.61B | $3.57B | $3.77B | $4.06B | $3.36B |
| Property, plant & equipment (net) | $3.99B | $3.99B | $3.66B | $3.55B | $3.52B | $3.40B | $3.20B | $3.06B | $2.92B | $2.82B | $2.81B | $2.46B |
| Goodwill & intangible assets | $188.4M | $189.4M | $191.2M | $183.0M | $182.2M | $178.0M | $171.2M | $178.2M | $23.9M | $24.0M | $24.1M | $145.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $357.2M | $353.1M | $338.9M | $296.1M | $290.1M | $274.0M | $254.9M | $241.8M | $230.6M | $211.5M | $195.9M | $49.7M |
| Total assets | $8.48B | $8.53B | $8.46B | $7.96B | $7.52B | $7.43B | $7.60B | $7.08B | $6.74B | $6.83B | $7.09B | $6.02B |
| Liabilities | ||||||||||||
| Accounts payable | $346.7M | $294.3M | $331.4M | $352.2M | $373.3M | $304.0M | $271.4M | $386.0M | $317.3M | $261.6M | $348.4M | $309.3M |
| Short-term debt | $366.6M | $357.2M | $298.7M | $317.5M | $297.9M | $281.8M | $275.2M | $290.4M | $278.1M | $254.4M | $249.3M | $217.1M |
| Deferred revenue | $277.3M | $296.4M | $316.6M | $253.8M | $252.3M | $271.1M | $308.4M | $238.3M | $250.8M | $268.3M | $306.5M | $213.3M |
| Total current liabilities | $1.80B | $1.79B | $1.89B | $1.84B | $1.56B | $1.57B | $1.84B | $1.80B | $1.47B | $1.38B | $1.63B | $1.45B |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $2.14B | $2.14B | $1.80B | $1.76B | $1.76B | $1.71B | $1.58B | $1.51B | $1.46B | $1.40B | $1.40B | $1.17B |
| Other long-term liabilities | $1.89B | $1.91B | $1.61B | $1.61B | $1.58B | $1.57B | $1.44B | $1.29B | $1.24B | $1.23B | $1.23B | $1.05B |
| Total liabilities | $3.69B | $3.71B | $3.49B | $3.45B | $3.14B | $3.14B | $3.28B | $3.10B | $2.71B | $2.61B | $2.86B | $2.50B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $533,000 | $547,000 | $557,000 | $564,000 | $570,000 | $574,000 | $581,000 | $585,000 | $593,000 | $602,000 | $606,000 | $606,000 |
| Retained earnings (deficit) | $4.36B | $4.36B | $4.52B | $4.20B | $4.09B | $3.99B | $4.11B | $3.69B | $3.75B | $3.94B | $3.92B | $3.30B |
| Accumulated other comprehensive income | −$268.4M | −$217.4M | −$230.7M | −$348.8M | −$331.2M | −$336.7M | −$424.4M | −$319.8M | −$309.8M | −$295.1M | −$264.3M | −$315.8M |
| Total shareholders' equity | $4.79B | $4.83B | $4.96B | $4.50B | $4.39B | $4.29B | $4.32B | $3.99B | $4.03B | $4.22B | $4.23B | $3.53B |
| Key figures | ||||||||||||
| Total debt | $2.14B | $2.14B | $1.80B | $1.76B | $1.76B | $1.71B | $1.58B | $1.51B | $1.46B | $1.40B | $1.40B | $1.17B |
| Net cash (debt) | −$751.4M | −$621.3M | $8.8M | −$726.9M | −$606.9M | −$381.5M | $408.5M | −$325.7M | $151.2M | $498.6M | $840.7M | −$77.0M |
| Working capital | $2.14B | $2.20B | $2.38B | $2.08B | $1.97B | $2.01B | $2.14B | $1.80B | $2.10B | $2.38B | $2.43B | $1.92B |
| Tangible book value | $4.60B | $4.64B | $4.77B | $4.32B | $4.21B | $4.11B | $4.15B | $3.81B | $4.01B | $4.20B | $4.21B | $3.38B |
| Book value per share | $42.43 | $41.79 | $41.67 | $37.98 | $36.66 | $35.50 | $35.47 | $32.46 | $32.29 | $33.40 | $33.43 | $27.81 |
| Shares outstanding | 112.9M | 115.5M | 119.1M | 118.6M | 119.7M | 120.8M | 121.9M | 122.8M | 124.9M | 126.3M | 126.6M | 126.8M |
| Current ratio | 2.19 | 2.23 | 2.26 | 2.13 | 2.27 | 2.28 | 2.16 | 2.00 | 2.43 | 2.72 | 2.49 | 2.32 |
| Quick ratio | 0.87 | 1.17 | 1.25 | 0.93 | 1.04 | 1.08 | 1.24 | 0.88 | 1.33 | 1.60 | 1.56 | 1.03 |
| Debt / equity | 0.45 | 0.44 | 0.36 | 0.39 | 0.40 | 0.40 | 0.36 | 0.38 | 0.36 | 0.33 | 0.33 | 0.33 |
| Equity / assets | 56.5% | 56.6% | 58.7% | 56.6% | 58.3% | 57.7% | 56.9% | 56.3% | 59.8% | 61.8% | 59.7% | 58.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 17, 2026); data from EODHD.
LULU financial position
At the end of fiscal 2026 (January 31, 2026), Lululemon had total assets of $8.5 billion (up 11.2% from a year earlier), total liabilities of $3.5 billion and shareholders' equity of $5.0 billion. It held $1.8 billion in cash and short-term investments against $1.8 billion of debt, a net cash position of $8.8 million. Its current ratio was 2.26. In the latest quarter (ended July 31, 2026) total assets were $8.5 billion and equity $4.8 billion.
Related: LULU income statement, LULU cash flow statement, LULU key metrics. See the LULU stock overview for the latest quote and news.
LULU balance sheet FAQ
What are Lululemon's total assets?
Lululemon reported total assets of $8.5 billion at the end of fiscal 2026 (January 31, 2026), compared with $7.6 billion a year earlier.
How much debt does Lululemon have?
Lululemon had $1.8 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.36.
How much cash does Lululemon have?
Lululemon held $1.8 billion in cash and short-term investments at the end of fiscal 2026; with $1.8 billion of debt that is net cash of $8.8 million.
What is Lululemon's book value?
Lululemon's shareholders' equity (book value) was $5.0 billion at the end of fiscal 2026, or $41.67 per share.
What is Lululemon's current ratio?
Lululemon had current assets of $4.3 billion and current liabilities of $1.9 billion, a current ratio of 2.26 (it can cover its short-term obligations).
How much goodwill does Lululemon have?
Lululemon carried $191.2 million of goodwill and intangible assets, 2.3% of total assets, at the end of fiscal 2026.