Nike (NKE) vs Lululemon (LULU): Stock Comparison
Data as of November 7, 2026. Refreshed weekly from SEC filings and market data.
Lululemon is cheaper on earnings, at 9.1 times against 18.7; Lululemon keeps the higher net margin (12.8% against 6.7%); Lululemon grew revenue faster over the last year (1.7% against -1.2%); Nike pays the higher dividend yield (4.2% against 0.0%). Nike clears 6 of this site's 8 value filters and Lululemon 4. Figures are as of November 7, 2026; each is on the page below with its source.
How do Nike and Lululemon compare on the numbers?
| Measure | Nike (NKE) | Lululemon (LULU) | Clearer lead |
|---|---|---|---|
| Share price | $38.59 | $110.79 | |
| Market value | $57.8 billion | $12.9 billion | |
| P/E ratio (trailing) | 18.7 | 9.1 | LULU |
| PEG ratio | n/a | n/a | n/a |
| Free-cash-flow yield | 3.8% | 10.5% | LULU |
| Net profit margin | 6.7% | 12.8% | LULU |
| Revenue growth, last year | -1.2% | 1.7% | LULU |
| Return on equity | 21.2% | 29.7% | LULU |
| Debt to equity | 0.52 | n/a | LULU |
| Dividend yield | 4.2% | 0.0% | NKE |
| Margin of safety (DCF) | -54.9% | +44.0% | LULU |
| Value filters passed (of 8) | 6 | 4 | NKE |
| Distance from 52-week high | -43.7% | -48.7% |
How have Nike and Lululemon shares done against each other?
Nike 22Lululemon 24
Each share price set to 100 on Nov 2021, to Nov 2026. Price only: dividends are not included.
From Nov 2021 to Nov 2026, Nike shares are down 78% and Lululemon shares down 76%, so the two have moved about together. The deepest fall from a prior high in that window was 81% for Nike and 81% for Lululemon.
| Period | Nike (NKE) | Lululemon (LULU) |
|---|---|---|
| Last 1 year | -37.6% | -32.3% |
| Last 3 years | -64.0% | -72.8% |
| Last 5 years | -78.3% | -76.3% |
Which has grown faster, Nike or Lululemon?
Over 5 years, Nike grew revenue 0.8% a year and earnings per share -10.0% a year; Lululemon grew revenue 20.3% and earnings per share 24.1%. Its net margin averaged 9.5% at Nike and 14.7% at Lululemon.
| Measure | Nike (NKE) | Lululemon (LULU) |
|---|---|---|
| Latest fiscal year ended | May 2026 | Feb 2026 |
| Revenue, first year to latest | $44.5 billion to $46.4 billion | $4.4 billion to $11.1 billion |
| Revenue growth per year | 0.8% | 20.3% |
| Earnings per share, first year to latest | $3.56 to $2.10 | $4.50 to $13.26 |
| Earnings per share growth per year | -10.0% | 24.1% |
| Net margin, latest year | 6.7% | 14.2% |
| Net margin, average of the years | 9.5% | 14.7% |
| Free cash flow margin, latest year | 4.7% | 8.3% |
From each company's 10-K filings (SEC EDGAR), over its latest 5 years. Fiscal years end in different months, so each is shown for its own latest 5 years.
What growth does each share price assume?
| Measure | Nike (NKE) | Lululemon (LULU) |
|---|---|---|
| Free cash flow growth the price implies | 19.1% a year | -6.1% a year |
| Free cash flow per share | $1.46 | $11.59 |
| Margin of safety on this site's DCF | -54.9% | +44.0% |
At $38.59, Nike's price implies free cash flow growth of 19.1% a year, fading to 2.5% over 10 years. That is more growth than the 8% baseline.
At $110.79, Lululemon's price implies free cash flow growth of -6.1% a year, fading to 2.5% over 10 years. That is less growth than the 8% baseline.
The same model and baseline as every stock page. A price that asks for less growth is not a better company, only a lower bar to clear.
Where is each stronger?
Where Nike leads
- Higher dividend yield: 4.2% against 0.0%
- More of the 8 value filters: 6 against 4
Where Lululemon leads
- Lower P/E: 9.1 against 18.7
- Higher free-cash-flow yield: 10.5% against 3.8%
- Higher net margin: 12.8% against 6.7%
- Faster revenue growth last year: 1.7% against -1.2%
- Higher return on equity: 29.7% against 21.2%
- Less debt for its equity: n/a against 0.52
- Higher margin of safety on this site's DCF: +44.0% against -54.9%
- Faster revenue growth over its filed record: 20.3% against 0.8%
- Faster earnings-per-share growth over its filed record: 24.1% against -10.0%
- A higher net margin in its latest filed year: 14.2% against 6.7%
- A higher average net margin: 14.7% against 9.5%
- A higher free-cash-flow margin in its latest filed year: 8.3% against 4.7%
A lead needs a clear gap (10% apart on a ratio, 1 point on a percentage), so a rounding difference never names a winner. A lead on one measure is not a verdict on the company.
How do the businesses differ?
Nike. Nike designs and sells athletic shoes, apparel and equipment through retail partners and its own stores and apps. Manufacturing is outsourced to contract factories, mainly in Asia.
Lululemon. Lululemon designs and sells premium athletic apparel, especially yoga and training clothing, through its own stores, online and wholesale in North America, Asia and Europe.
Both are in the Textiles, Apparel & Luxury Goods industry on this site.
What stands out about Nike
- No filter fails. NKE passes 6 of the 8 value filters and 2 were not evaluated.
- The margin of safety is falling. It went from -37% on Oct 7 to -55% on Nov 7 across 8 weekly readings.
- Short interest is elevated. 8.8% of the float is sold short, 1.9 days to cover, above this site's 5% flag.
What stands out about Lululemon
- Misses 2 of the 8 value filters. It fails Market Cap > $25B ($12.9B) and EPS Growth YoY > -5% (-5.9%); the other 4 pass and 2 were not evaluated.
- The margin of safety is falling. It went from +53% on Oct 7 to +44% on Nov 7 across 8 weekly readings.
- Strongest against peers: P/E ratio. At 9.1× (peer median 18.7×) it ranks 1st of 19 among consumer products stocks this site tracks.
Frequently asked questions about Nike and Lululemon
Which is cheaper, Nike or Lululemon?
On trailing earnings, Lululemon is cheaper: Nike trades at 18.7 times and Lululemon at 9.1 times. On free cash flow, the yields are 3.8% and 10.5%. Cheaper is not the same as better value: read the growth each price assumes below.
Which pays the higher dividend, Nike or Lululemon?
Nike pays the higher yield: Nike 4.2% and Lululemon 0.0% over the last year.
Which has grown faster, Nike or Lululemon?
Over their latest filed five years, Nike grew revenue 0.8% a year and Lululemon 20.3%; earnings per share grew -10.0% and 24.1% a year.
Which has more debt, Nike or Lululemon?
Debt to equity is not available for both.
Which is more profitable, Nike or Lululemon?
Lululemon keeps more of each sales dollar as profit: 6.7% for Nike and 12.8% for Lululemon, with a return on equity of 21.2% and 29.7%.
Which passes more of the 8 value filters?
Nike clears more: Nike 6 of 8 and Lululemon 4 of 8. The filters are this site's own value rules, not a prediction.
Where do these numbers come from?
Prices, ratios and yield are from this site's weekly data as of November 7, 2026; growth and margins by year are from each company's 10-K filings (sources on Nike and Lululemon). The DCF is the same model on every stock page. See Editorial Standards. Educational, not investment advice.