GILDAN ACTIVEWEAR INC. vs lululemon athletica inc., two Apparel stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Gildan cranks out blank basics for wholesale; Lululemon designs premium athletic wear it sells at full price. Lululemon is far more profitable, a 13.03% net margin and 30.25% return on equity against Gildan's 11.02% and 11.2%. Yet the market prices Lululemon at just 9.51 times earnings, cheaper than Gildan's 20.26, after souring on its growth. Both run debt-free. Lululemon yields 9.43% in free cash flow, Gildan 6.18%. Lululemon's 2.81 times book edges Gildan's 2.27. The stronger business trades at the lower multiple here, a reversal of the usual order between a brand and its plainer supplier.
Comparison updated 2026-07-11.
| Metric | GIL | LULU |
|---|---|---|
| Price | $52.51 | $119.23 |
| Market cap | $8.0B | $13.8B |
| Sector | Apparel | Apparel |
| Stage | Mature | Mature |
| Implied growth (priced in) | +13.2% | — |
| P/E | 20.1 | 9.7 |
| P/B | 2.26 | 2.85 |
| P/S | 2.22 | 1.23 |
| EV/EBITDA | 10.1 | 5.4 |
| Revenue growth | +5.6% | +4.7% |
| Gross margin | 31.2% | 54.2% |
| Operating margin | 17.1% | 11.2% |
| Net margin | 11.0% | 13.0% |
| Return on equity | 11.2% | 30.3% |
| Return on assets | 3.8% | 17.1% |
| Return on invested capital | 14.6% | 28.9% |
| FCF yield | 6.2% | 9.3% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 2.11 | 2.23 |
| Altman Z (solvency) | 1.68 | 4.67 |
| Piotroski F (quality) | 5 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.