Lululemon Athletica (FRA:33L0) Cyclically Adjusted PS Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
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.

FRA:33L0 Lululemon Athletica Inc FRA:33L0
74 GF Score
Price €2.62
GF Value €7.08
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Lululemon Athletica Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Lululemon Athletica  (FRA:33L0) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue 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 PS Ratio should give similar results to regular PS Ratio.


Lululemon Athletica Cyclically Adjusted PS Ratio Related Terms


Lululemon Athletica Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Lululemon Athletica's Cyclically Adjusted PS 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 PS Ratio Chart

Lululemon Athletica Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - 9.21 2.76

Lululemon Athletica Quarterly Data
Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26 Jul26
Cyclically Adjusted PS 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 3.72 3.14 2.75 2.17 1.62

FRA:33L0 vs BURL, GAP, VSXY: Cyclically Adjusted PS Ratio Comparison

For the Apparel Retail subindustry, Lululemon Athletica's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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 PS Ratio vs Retail - Cyclical Industry

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

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


FRA:33L0
74GF Score
Lululemon Athletica Inc FRA:33L0
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Lululemon Athletica Cyclically Adjusted PS Ratio Calculation

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

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

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

Adj_RevenuePerShare=Revenue per Share/CPI of Jul. 2026 (Change)*Current CPI (Jul. 2026)
=0.612/134.2375*134.2375
=0.612

Current CPI (Jul. 2026) = 134.2375.

Lululemon Athletica Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201610 0.117 102.002 0.154
201701 0.178 102.318 0.234
201704 0.117 103.029 0.152
201707 0.125 103.029 0.163
201710 0.127 103.424 0.165
201801 0.189 104.056 0.244
201804 0.128 105.320 0.163
201807 0.151 106.110 0.191
201810 0.160 105.952 0.203
201901 0.255 105.557 0.324
201904 0.174 107.453 0.217
201907 0.198 108.243 0.246
201910 0.209 107.927 0.260
202001 0.318 108.085 0.395
202004 0.150 107.216 0.188
202007 0.203 108.401 0.251
202010 0.239 108.638 0.295
202101 0.362 109.192 0.445
202104 0.258 110.851 0.312
202107 0.306 112.431 0.365
202110 0.314 113.695 0.371
202201 0.478 114.801 0.559
202204 0.375 118.357 0.425
202207 0.462 120.964 0.513
202210 0.481 121.517 0.531
202301 0.682 121.596 0.753
202304 0.480 123.571 0.521
202307 0.525 124.914 0.564
202310 0.535 125.310 0.573
202401 0.769 125.072 0.825
202404 0.535 126.890 0.566
202407 0.580 128.075 0.608
202410 0.585 127.838 0.614
202501 0.917 127.443 0.966
202504 0.599 129.102 0.623
202507 0.606 130.290 0.624
202510 0.612 130.603 0.629
202601 0.879 130.366 0.905
202604 0.604 132.736 0.611
202607 0.612 134.238 0.612

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue 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 (FRA:33L0) Overvalued in 2026?

Based on GuruFocus' analysis, Lululemon Athletica stock appears to be undervalued. The current stock price of €2.62 is trading 63% below its estimated GF Value™ of €7.08. GuruFocus considers Lululemon Athletica to be Significantly Undervalued.

Key valuation signals for FRA:33L0:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €7.08 vs. price of €2.62 (63% below fair value)
  • GF Score™: 74/100 with 2 warning signs

No single metric tells the full story. See the FRA:33L0 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.
74GF Score

Get the complete analysis for FRA:33L0

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

€2.62
Price
€7.08
GF Value