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Nike vs lululemon athletica: NKE and LULU compared
Nike is the larger company: $11.2B of revenue in its latest quarter (Q1 FY27) against $2.4B for lululemon athletica (Q2 FY27). Nike is growing faster (-4% against -4% a year earlier). lululemon athletica is more profitable, with an operating margin of 18.8% against 8.2%.
Where the money goes: NKE and LULU
Nike (NKE) · Q1 FY27
Nike, Q1 FY27: revenue $11.2B (-4% year over year), operating margin 8.2%, net earnings $712M, operating cash flow $135M. The chart follows the revenue to costs, profit and cash.
lululemon athletica (LULU) · Q2 FY27
lululemon athletica, Q2 FY27: revenue $2.4B (-4% year over year), operating margin 18.8%, net earnings $329M, operating cash flow $375M. The chart follows the revenue to costs, profit and cash.
| Nike (NKE) | lululemon athletica (LULU) | |
|---|---|---|
| Latest quarter | Q1 FY27 | Q2 FY27 |
| Revenue | $11.2B | $2.4B |
| Revenue growth, Y/Y | -4% | -4% |
| Gross margin | 42.8% | 60.5% |
| Operating margin | 8.2% | 18.8% |
| Net earnings | $712M | $329M |
| Net margin | 6.3% | 13.6% |
| Operating cash flow | $135M | $375M |
| Free cash flow | — | $225M |
| Market value | $57.3B | $12.5B |
| P/E | 18.5× | 8.8× |
| Analysts’ mean target | $36.42 | $103.66 |
Where the revenue comes from
Nike
- Footwear: $7.2B (64%)
- Apparel: $3.4B (30%)
- Equipment: $617M (6%)
- Other: $26.0M (0%)
lululemon athletica
- Women's apparel: $1.5B (62%)
- Men's apparel: $621M (26%)
- Accessories and other categories: $306M (13%)
Questions
Which is bigger, Nike or lululemon athletica?
Nike is the larger company: $11.2B of revenue in its latest quarter (Q1 FY27) against $2.4B for lululemon athletica (Q2 FY27).
Is Nike or lululemon athletica growing faster?
Nike is growing faster (-4% against -4% a year earlier).
Which is more profitable, Nike or lululemon athletica?
lululemon athletica is more profitable, with an operating margin of 18.8% against 8.2%.
More: Nike earnings · how Nike makes money · lululemon athletica earnings · how lululemon athletica makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 2, 2026; 10-Q filed Sep 3, 2026). Fiscal quarters can end on different dates. Not investment advice.