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Lululemon Athletica (NAS:LULU) Cyclically Adjusted FCF per Share

: $3.72 (As of Oct. 2023)
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E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

Lululemon Athletica's adjusted free cash flow per share for the three months ended in Oct. 2023 was $1.790. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is $3.72 for the trailing ten years ended in Oct. 2023.

During the past 12 months, Lululemon Athletica's average Cyclically Adjusted FCF Growth Rate was 35.80% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 21.00% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 22.50% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of Lululemon Athletica was 25.30% per year. The lowest was 15.00% per year. And the median was 22.80% per year.

As of today (2024-02-29), Lululemon Athletica's current stock price is $467.25. Lululemon Athletica's Cyclically Adjusted FCF per Share for the quarter that ended in Oct. 2023 was $3.72. Lululemon Athletica's Cyclically Adjusted Price-to-FCF of today is 125.60.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Lululemon Athletica was 216.03. The lowest was 50.24. And the median was 104.09.


Lululemon Athletica Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Lululemon Athletica's Cyclically Adjusted FCF per Share 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.

* Premium members only.

Lululemon Athletica Annual Data
Trend Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23
Cyclically Adjusted FCF per Share
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.60 1.85 2.19 3.01 3.28

Lululemon Athletica Quarterly Data
Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23
Cyclically Adjusted FCF per Share 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 Premium Member Only Premium Member Only Premium Member Only 2.74 3.28 3.25 3.53 3.72

Competitive Comparison

For the Apparel Retail subindustry, Lululemon Athletica's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF 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 Price-to-FCF Distribution

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

* The bar in red indicates where Lululemon Athletica's Cyclically Adjusted Price-to-FCF falls into.



Lululemon Athletica Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF 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.

For example, Lululemon Athletica's adjusted Free Cash Flow per Share data for the three months ended in Oct. 2023 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Oct. 2023 (Change)*Current CPI (Oct. 2023)
=1.79/125.3095*125.3095
=1.790

Current CPI (Oct. 2023) = 125.3095.

Lululemon Athletica Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201401 1.019 97.261 1.313
201404 0.312 98.920 0.395
201407 0.181 99.315 0.228
201410 0.039 99.473 0.049
201501 0.824 98.209 1.051
201504 -0.049 99.710 -0.062
201507 -0.183 100.579 -0.228
201510 -0.350 100.500 -0.436
201601 1.711 100.184 2.140
201604 0.097 101.370 0.120
201607 0.121 101.844 0.149
201610 -0.273 102.002 -0.335
201701 1.781 102.318 2.181
201704 -0.003 103.029 -0.004
201707 0.386 103.029 0.469
201710 -0.206 103.424 -0.250
201801 2.264 104.056 2.726
201804 0.011 105.320 0.013
201807 0.925 106.110 1.092
201810 0.256 105.952 0.303
201901 2.696 105.557 3.200
201904 -0.999 107.453 -1.165
201907 0.348 108.243 0.403
201910 -0.255 107.927 -0.296
202001 3.861 108.085 4.476
202004 -1.325 107.216 -1.549
202007 0.984 108.401 1.137
202010 -0.311 108.638 -0.359
202101 5.036 109.192 5.779
202104 1.144 110.851 1.293
202107 1.574 112.431 1.754
202110 0.275 113.695 0.303
202201 4.660 114.801 5.087
202204 -2.759 118.357 -2.921
202207 -0.368 120.964 -0.381
202210 -0.859 121.517 -0.886
202301 6.567 121.596 6.768
202304 -0.716 123.571 -0.726
202307 2.602 124.914 2.610
202310 1.790 125.310 1.790

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


Lululemon Athletica  (NAS:LULU) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Lululemon Athletica's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=467.25/3.72
=125.60

* 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.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Lululemon Athletica was 216.03. The lowest was 50.24. And the median was 104.09.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Lululemon Athletica Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of Lululemon Athletica's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Lululemon Athletica (NAS:LULU) 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. Lululemon offers pants, shorts, tops, and jackets for both leisure and athletic activities such as yoga and running. The company also sells fitness accessories, such as bags, yoga mats, and equipment. Lululemon sells its products through more than 680 company-owned stores in 19 countries, e-commerce, outlets, and wholesale accounts. The company was founded in 1998 and is based in Vancouver, Canada.
Executives
Meghan Frank officer: Chief Financial Officer C/O LULULEMON ATHLETICA INC., 1818 CORNWALL AVENUE, VANCOUVER A1 V6J 1C7
Nicole Neuburger officer: Chief Brand Officer C/O LULULEMON ATHLETICA INC., 1818 CORNWALL AVENUE, VANCOUVER A1 V6J 1C7
Calvin Mcdonald director, officer: Chief Executive Officer C/O LULULEMON ATHLETICA INC., 1818 CORNWALL AVENUE, VANCOUVER A1 V6J 1C7
Celeste Burgoyne officer: Pres Americas&Global Guest C/O LULULEMON ATHLETICA INC., 1818 CORNWALL AVE, VANCOUVER A1 V6J 1C7
Shane Grant director C/O LULULEMON ATHLETICA INC., 1818 CORNWALL AVENUE, VANCOUVER A1 V6J 1C7
Michelle Sun Choe officer: Chief Product Officer C/O LULULEMON ATHLETICA INC., 1818 CORNWALL AVE, VANCOUVER A1 V6J 1C7
David M Mussafer director C/O ADVENT INTERNATIONAL CORP, 75 STATE ST 29TH FLOOR, BOSTON MA 02104
Isabel Mahe director ONE APPLE PARK WAY, MS169:2CL, CUPERTINO CA 95014
Kathryn Henry director C/O LULULEMON ATHLETICA, INC., 1818 CORNWALL AVENUE, VANCOUVER A1 V6J 1C7
Kourtney Gibson director C/O MARKETAXESS HOLDINGS INC., 55 HUDSON YARDS, 15TH FLOOR, NEW YORK NY 10001
Alison Loehnis director C/O LULULEMON ATHLETICA INC., 1818 CORNWALL AVENUE, VANCOUVER A1 V6J1C7
Andre Maestrini officer: EVP, International C/O LULULEMON ATHLETICA INC., 1818 CORNWALL AVENUE, VANCOUVER A1 V6J 1C7
Glenn Murphy director C/O LULULEMON ATHLETICA INC., 1818 CORNWALL AVENUE, VANCOUVER A1 V6J1C7
Martin Michael Casey director
Jon Mcneill director 45500 FREMONT BLVD, FREMONT CA 94538