Piotroski F-Score is 8, indicating very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Lululemon Athletica has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Lululemon Athletica's Piotroski F-Score or its related term are showing as below:
LULU'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 7 Max: 9
Current: 8
During the past 13 years, the highest Piotroski F-Score of Lululemon Athletica was 9. The lowest was 2. And the median was 7.
Lululemon Athletica Piotroski F-Score Historical Data
The historical data trend for Lululemon Athletica's Piotroski F-Score 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
Jan13
Jan14
Jan15
Jan16
Jan17
Jan18
Jan19
Jan20
Jan21
Jan22
Piotroski F-Score
7.00
8.00
8.00
5.00
8.00
Lululemon Athletica Quarterly Data
Apr17
Jul17
Oct17
Jan18
Apr18
Jul18
Oct18
Jan19
Apr19
Jul19
Oct19
Jan20
Apr20
Jul20
Oct20
Jan21
Apr21
Jul21
Oct21
Jan22
Piotroski F-Score
5.00
5.00
9.00
8.00
8.00
Competitive Comparison
For the Apparel Retail subindustry, Lululemon Athletica's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score Distribution
For the Retail - Cyclical industry and Consumer Cyclical sector, Lululemon Athletica's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Lululemon Athletica's Piotroski F-Score falls into.
How is the Piotroski F-Score calculated?
* 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.
This Year (Jan22) TTM:
Last Year (Jan21) TTM:
Net Income was 144.956 + 208.074 + 187.788 + 434.504 = $975 Mil. Cash Flow from Operations was 214.109 + 285.663 + 158.352 + 730.984 = $1,389 Mil. Revenue was 1226.465 + 1450.618 + 1450.421 + 2129.113 = $6,257 Mil. Gross Profit was 700.314 + 842.686 + 829.393 + 1236.172 = $3,609 Mil.
Average Total Assets from the begining of this year (Jan21)
to the end of this year (Jan22) was
(4185.215 + 4329.831 + 4405.098 + 4572.007 + 4942.478) / 5 = $4486.9258 Mil. Total Assets at the begining of this year (Jan21) was $4,185 Mil. Long-Term Debt & Capital Lease Obligation was $692 Mil. Total Current Assets was $2,615 Mil. Total Current Liabilities was $1,405 Mil.
Net Income was 28.632 + 86.801 + 143.643 + 329.837 = $589 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Lululemon Athletica's current Net Income (TTM) was 975.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Lululemon Athletica's return on assets of this year was 0.23303988. Lululemon Athletica's return on assets of last year was 0.17947256.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Score 1 if CFROA > ROA, 0 if CFROA <= ROA.
Lululemon Athletica's current Net Income (TTM) was 975. Lululemon Athletica's current Cash Flow from Operations (TTM) was 1,389.
==> 1,389 > 975 ==> CFROA > ROA ==> Score 1.
Funding
Question 5. Change in Gearing or Leverage
Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.
Score 0 if this year's gearing is higher, 1 otherwise.
Lululemon Athletica's gearing of this year was 0.15423834. Lululemon Athletica's gearing of last year was 0.17779069.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Lululemon Athletica's current ratio of this year was 1.86066302. Lululemon Athletica's current ratio of last year was 2.40538034.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Lululemon Athletica's number of shares in issue this year was 129.509. Lululemon Athletica's number of shares in issue last year was 130.958.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Lululemon Athletica's gross margin of this year was 0.57675977. Lululemon Athletica's gross margin of last year was 0.55975891.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Lululemon Athletica's asset turnover of this year was 1.49493324. Lululemon Athletica's asset turnover of last year was 1.34148251.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
1
+
1
+
1
+
0
+
1
+
1
+
1
=
8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Lululemon Athletica has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Lululemon Athletica Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of Lululemon Athletica's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Lululemon Athletica Inc. designs, distributes, and markets athletic apparel 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 550 company-owned stores in 17 countries, e-commerce, outlets, and wholesale accounts. The company was founded in 1998 and is based in Vancouver, Canada.
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