Lululemon Athletica (CHIX:33LD) Cyclically Adjusted PB Ratio: (As of Jul. 26, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

CHIX:33LD Lululemon Athletica Inc CHIX:33LD
68 GF Score
Price €97.60
GF Value €306.40
Valuation Significantly Undervalued
! 1 Warning Sign
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What is Lululemon Athletica Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Lululemon Athletica  (CHIX:33Ld) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Lululemon Athletica Cyclically Adjusted PB Ratio Related Terms


Lululemon Athletica Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Lululemon Athletica's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Lululemon Athletica Cyclically Adjusted PB Ratio Chart

Lululemon Athletica Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 28.27 21.69 27.42 21.54 7.75

Lululemon Athletica Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 13.46 9.56 7.85 7.75 5.81

CHIX:33LD vs GAP, VSXY, BURL: Cyclically Adjusted PB Ratio Comparison

For the Apparel Retail subindustry, Lululemon Athletica's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Lululemon Athletica Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Lululemon Athletica's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Lululemon Athletica's Cyclically Adjusted PB Ratio falls into.


CHIX:33LD
68GF Score
Lululemon Athletica Inc CHIX:33LD
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Lululemon Athletica Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Lululemon Athletica's Cyclically Adjusted Book per Share for the quarter that ended in Apr. 2026 is calculated as:

For example, Lululemon Athletica's adjusted Book Value per Share data for the three months ended in Apr. 2026 was:

Adj_Book=Book Value per Share/CPI of Apr. 2026 (Change)*Current CPI (Apr. 2026)
=36.058/132.7364*132.7364
=36.058

Current CPI (Apr. 2026) = 132.7364.

Lululemon Athletica Quarterly Data

Book Value per Share CPI Adj_Book
201607 7.635 101.844 9.951
201610 7.978 102.002 10.382
201701 9.325 102.318 12.097
201704 9.184 103.029 11.832
201707 8.945 103.029 11.524
201710 8.935 103.424 11.467
201801 10.422 104.056 13.295
201804 9.828 105.320 12.386
201807 8.533 106.110 10.674
201810 9.241 105.952 11.577
201901 9.799 105.557 12.322
201904 9.337 107.453 11.534
201907 10.319 108.243 12.654
201910 11.439 107.927 14.068
202001 13.494 108.085 16.572
202004 13.542 107.216 16.765
202007 13.360 108.401 16.359
202010 14.106 108.638 17.235
202101 16.115 109.192 19.590
202104 16.941 110.851 20.286
202107 17.404 112.431 20.547
202110 17.718 113.695 20.685
202201 18.850 114.801 21.795
202204 19.311 118.357 21.657
202207 22.027 120.964 24.171
202210 24.190 121.517 26.423
202301 22.951 121.596 25.054
202304 23.802 123.571 25.567
202307 25.206 124.914 26.784
202310 26.450 125.310 28.018
202401 30.779 125.072 32.665
202404 31.316 126.890 32.759
202407 30.044 128.075 31.138
202410 29.951 127.838 31.099
202501 34.441 127.443 35.872
202504 31.808 129.102 32.703
202507 31.611 130.290 32.205
202510 32.800 130.603 33.336
202601 36.246 130.366 36.905
202604 36.058 132.736 36.058

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Lululemon Athletica (CHIX:33LD) Overvalued in 2026?

Based on GuruFocus' analysis, Lululemon Athletica stock appears to be undervalued. The current stock price of €97.60 is trading 68.1% below its estimated GF Value™ of €306.40. GuruFocus considers Lululemon Athletica to be Significantly Undervalued.

Key valuation signals for CHIX:33LD:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €306.40 vs. price of €97.60 (68.1% below fair value)
  • GF Score™: 68/100 with 1 warning sign

No single metric tells the full story. See the CHIX:33LD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Lululemon Athletica Business Description

Address 1818 Cornwall Avenue, Vancouver, BC, CAN, V6J 1C7
Lululemon Athletica designs, distributes, and markets athletic apparel, footwear, and accessories for women, men, and girls. The company offers pants, shorts, tops, and jackets for both leisure and athletic activities such as yoga and running. Lululemon also sells fitness accessories, such as bags, yoga mats, and equipment. It sells its products through digital channels, a small number of wholesale partners, more than 800 company-owned stores in about two dozen countries in North America, Asia, and Western Europe, and about 45 franchised locations in the Middle East and Europe. The company was founded in 1998 and is based in Vancouver, Canada.
68GF Score

Get the complete analysis for CHIX:33LD

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€97.60
Price
€306.40
GF Value