Lululemon Athletica (STU:33L) Cyclically Adjusted PS Ratio: (As of Sep. 21, 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.

STU:33L Lululemon Athletica Inc STU:33L
74 GF Score
Price €84.70
GF Value €268.63
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  (STU:33L) 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 14.57 10.37 12.69 9.75 3.05

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 3.94 3.19 3.04 2.31 1.97

STU:33L 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.


STU:33L
74GF Score
Lululemon Athletica Inc STU:33L
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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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)
=18.547/134.2375*134.2375
=18.547

Current CPI (Jul. 2026) = 134.2375.

Lululemon Athletica Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201610 3.559 102.002 4.684
201701 5.400 102.318 7.085
201704 3.549 103.029 4.624
201707 3.786 103.029 4.933
201710 3.862 103.424 5.013
201801 5.741 104.056 7.406
201804 3.880 105.320 4.945
201807 4.587 106.110 5.803
201810 4.858 105.952 6.155
201901 7.740 105.557 9.843
201904 5.273 107.453 6.587
201907 6.015 108.243 7.459
201910 6.330 107.927 7.873
202001 9.629 108.085 11.959
202004 4.555 107.216 5.703
202007 6.154 108.401 7.621
202010 7.236 108.638 8.941
202101 10.969 109.192 13.485
202104 7.814 110.851 9.463
202107 9.260 112.431 11.056
202110 9.507 113.695 11.225
202201 14.495 114.801 16.949
202204 11.357 118.357 12.881
202207 13.986 120.964 15.521
202210 14.588 121.517 16.115
202301 20.655 121.596 22.802
202304 14.532 123.571 15.786
202307 15.906 124.914 17.093
202310 16.219 125.310 17.375
202401 23.298 125.072 25.005
202404 16.199 126.890 17.137
202407 17.571 128.075 18.416
202410 17.741 127.838 18.629
202501 27.790 127.443 29.272
202504 18.162 129.102 18.884
202507 18.356 130.290 18.912
202510 18.547 130.603 19.063
202601 26.622 130.366 27.413
202604 18.306 132.736 18.513
202607 18.547 134.238 18.547

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 (STU:33L) Overvalued in 2026?

Based on GuruFocus' analysis, Lululemon Athletica stock appears to be undervalued. The current stock price of €84.70 is trading 68.5% below its estimated GF Value™ of €268.63. GuruFocus considers Lululemon Athletica to be Significantly Undervalued.

Key valuation signals for STU:33L:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €268.63 vs. price of €84.70 (68.5% below fair value)
  • GF Score™: 74/100 with 2 warning signs

No single metric tells the full story. See the STU:33L 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 STU:33L

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

€84.70
Price
€268.63
GF Value