Lululemon AthleticaHAM:33L -0.57%77 Net Current Asset Value is €2.16 as of Apr. 2026, which is 100% below its 10-year median of 57.19. GuruFocus rates HAM:33L with a GF Score™ of 77/100 and a GF Value™ of €322.20 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 553 Retail - Cyclical companies, Lululemon Athletica ranks worse than 95.3% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Lululemon Athletica's net current asset value per share for the quarter that ended in Apr. 2026 was €2.16.
The historical rank and industry rank for Lululemon Athletica's Net Current Asset Value or its related term are showing as below:
HAM:33L'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 8.18 Med: 57.19 Max: 307.01
Current: 45.93
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Lululemon Athletica was 307.01. The lowest was 8.18. And the median was 57.19.
HAM:33L's Price-to-Net-Current-Asset-Value is ranked worse than 95.3% of 553
companies
in the Retail - Cyclical industry
Industry Median: 3.14
vs HAM:33L: 45.93
Lululemon Athletica (HAM:33L) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Lululemon Athletica Net Current Asset Value Related Terms
Lululemon Athletica Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Lululemon Athletica's Net Current Asset Value 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.
HAM:33L vs GAP, VSXY, BURL: Net Current Asset Value Comparison
For the Apparel Retail subindustry, Lululemon Athletica's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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 Price-to-Net-Current-Asset-Value vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Lululemon Athletica's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Lululemon Athletica's Price-to-Net-Current-Asset-Value falls into.
* 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.
What does a Net Current Asset Value of €2.16 mean?
Lululemon Athletica (HAM:33L) has a Net Current Asset Value of €2.16 as of Apr. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Lululemon Athletica and its competitors. This is 96% below median its historical median of 57.19. Over the past decade, Lululemon Athletica's Net Current Asset Value has ranged from 8.18 to 307.01. According to the industry distribution chart, Lululemon Athletica ranks #527 out of 553 companies in the Retail - Cyclical industry, placing it in the top 95.3%.
Is Lululemon Athletica's Net Current Asset Value too high?
Lululemon Athletica's current Net Current Asset Value of €2.16 is 96% below median its 10-year median of 57.19. Over the past 10 years, this metric has ranged from a low of 8.18 to a high of 307.01. Based on the distribution chart, Lululemon Athletica ranks #527 out of 553 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Lululemon Athletica has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Lululemon Athletica's Net Current Asset Value compare to GAP and VSXY?
According to the Retail - Cyclical industry distribution chart, Lululemon Athletica ranks #527 out of 553 companies for Net Current Asset Value. This places Lululemon Athletica in the lower half of its industry. The industry median Net Current Asset Value is 3.14. Historically, Lululemon Athletica's own Net Current Asset Value has ranged from 8.18 to 307.01 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a Retail - Cyclical company?
The median Net Current Asset Value among Retail - Cyclical companies is 3.14, based on 553 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Lululemon Athletica and its competitors. For the Retail - Cyclical industry, the median Net Current Asset Value is 3.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lululemon Athletica's current Net Current Asset Value is €2.16, which is 96% below median its own 10-year median of 57.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lululemon Athletica stock overvalued right now?
Based on GuruFocus' analysis, Lululemon Athletica (HAM:33L) is currently considered Significantly Undervalued. The stock's GF Value™ is €322.20, compared to a current price of €103.80 — trading 67.8% below its estimated fair value. The current Net Current Asset Value is €2.16, which is 96% below median its 10-year median of 57.19. Lululemon Athletica's overall GF Score™ is 77/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Lululemon Athletica (HAM:33L), the current Net Current Asset Value is €2.16 as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Lululemon Athletica (HAM:33L) Overvalued in 2026?
Based on GuruFocus' analysis, Lululemon Athletica stock appears to be undervalued.
The current stock price of €103.80 is trading 67.8% below its estimated GF Value™ of €322.20.
GuruFocus considers Lululemon Athletica to be Significantly Undervalued.
Key valuation signals for HAM:33L:
Net Current Asset Value: €2.16 (96% below median its 10-year median of 57.19)
GF Value™: €322.20 vs. price of €103.80 (67.8% below fair value)
No single metric tells the full story. See the HAM:33L stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
77GF Score
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Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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