Forensic Analysis · Retail / Consumer Discretionary · as of Sep 29, 2026
Lulu'S Fashion Lounge Holdings, Inc. (LVLU)
A forensic read on Lulu'S Fashion Lounge Holdings, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Distress
Financial health
-12.8
Distress distance
Clean
Earnings quality
6
Forensic signals
-10.6%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Lulu'S Fashion Lounge Holdings, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -12.8, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 6 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-85.7%
FY2025
Return on invested capital.Return on invested capital is -85.7% in the latest fiscal year, against -18.8% in FY2023, having run between -140.7% and -18.8% across FY2023–FY2025 with no direction held. After-tax operating profit was ($16M) in FY2023 and ($10M) in FY2025, with operating income at -5.7% of revenue in FY2023, -16.6% in FY2024 and -4.5% in FY2025. The capital base behind it came down -86% across FY2023–FY2025, from $85M to $12M, so this return is struck on a smaller base than it started on. FY2024's operating profit carried a $28M goodwill write-off that alone took about 76.2 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it.
FCF ($787,000)
FY2025
Shareholder returns.Returned $886,000 to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($787,000) after capex — there was no free cash flow to fund the payout from at all, though operating cash flow alone was $1M — 64% of that. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
76d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 68 to 76 FY2024→FY2025 (against cost of goods sold; inventory -5% vs -14% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
+2.6%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +5% over the last 2 years to FY2025 (+2.6%/yr). The count is growing — 2.7M shares in FY2023, 2.8M in FY2025: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~2.6% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~5%.
Key fundamentals
Latest Revenue$282.3M
Revenue Growth YoY-10.6%
Revenue CAGR (2yr)-10.9%
Net Margin-4.9%
Free Cash Flow-$787,000.00
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Lulu'S Fashion Lounge Holdings, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 29, 2026. Forensic signals flag probability, not certainty.
Lulu'S Fashion Lounge Holdings, Inc. (LVLU) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
1.6% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 1.6% of revenue in FY2025 — about $1.60 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 2.6% a year across FY2023–FY2025, and the rate is falling. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
$28M
FY2024–FY2024
Goodwill impairments.Took $28M of goodwill writedowns across 1 year (FY2024 ($28M)). Writedowns mean past acquisitions underperformed what was paid for them.