Lowe's Companies, Inc. (LOW) 10-Year Financial Performance & Capital Metrics

LOW • • Industrial / General

Consumer CyclicalHome Improvement RetailHome Improvement & Hardware RetailBig-Box Home Improvement Retailers

AboutLowe's Companies, Inc., together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, decor, lighting, and electrical. It also offers installation services through independent contractors in various product categories; extended protection plans; and in-warranty and out-of-warranty repair services. The company sells its national brand-name merchandise and private brand products to homeowners, renters, and professional customers. As of January 28, 2022, it operated 1,971 home improvement and hardware stores. The company also sells its products through websites comprising Lowes.com and Lowesforpros.com; and through mobile applications. Lowe's Companies, Inc. was founded in 1921 and is based in Mooresville, North Carolina.Show more

Revenue $83.67B -3.1%
EBITDA $12.08B -10.2%
Net Income $6.96B -10.0%
EPS (Diluted) 12.23 -7.3%
Gross Margin 31.25% -0.5%
EBITDA Margin 14.44% -7.3%
Operating Margin 12.08% -9.5%
Net Margin 8.31% -7.0%
ROE -
ROIC 31.69% -14.7%
Debt/Equity -
Interest Coverage 6.88 -12.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓15 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 2.8% through buybacks
✓Trading near 52-week high
✓Efficient asset utilization: 1.9x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.06%

5Y3.01%

3Y-4.56%

TTM0.64%

Profit (Net Income) CAGR

10Y9.94%

5Y10.2%

3Y-6.25%

TTM-1.08%

EPS CAGR

10Y16.26%

5Y17.37%

3Y0.55%

TTM0.67%

ROCE

10Y Avg34.7%

5Y Avg42.4%

3Y Avg43.03%

Latest37.73%

Peer Comparison

Big-Box Home Improvement Retailers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HDThe Home Depot, Inc.	378.04B	379.74	25.47	4.48%	8.77%	120.35%	4.32%	9.38
LOWLowe's Companies, Inc.	153.84B	274.25	22.42	-3.13%	8.05%		5%

Profit & Loss

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Sales/Revenue+	59.07B	65.02B	68.62B	71.31B	72.15B	89.6B	96.25B	97.06B	86.38B	83.67B
Revenue Growth %	0.05%	0.1%	0.06%	0.04%	0.01%	0.24%	0.07%	0.01%	-0.11%	-0.03%
Cost of Goods Sold+	39.99B	44.04B	47.59B	49.88B	50.47B	61.42B	65.86B	66.57B	59.25B	57.53B
COGS % of Revenue	0.68%	0.68%	0.69%	0.7%	0.7%	0.69%	0.68%	0.69%	0.69%	0.69%
Gross Profit+	19.09B	20.98B	21.03B	21.43B	21.68B	28.17B	30.39B	30.49B	27.13B	26.15B
Gross Margin %	0.32%	0.32%	0.31%	0.3%	0.3%	0.31%	0.32%	0.31%	0.31%	0.31%
Gross Profit Growth %	0.06%	0.1%	0%	0.02%	0.01%	0.3%	0.08%	0%	-0.11%	-0.04%
Operating Expenses+	14.11B	15.16B	14.44B	15.33B	15.1B	17.29B	18.14B	17.83B	15.59B	16.04B
OpEx % of Revenue	0.24%	0.23%	0.21%	0.21%	0.21%	0.19%	0.19%	0.18%	0.18%	0.19%
Selling, General & Admin	14.11B	15.16B	14.44B	15.33B	15.1B	17.29B	18.14B	17.83B	15.59B	16.04B
SG&A % of Revenue	0.24%	0.23%	0.21%	0.21%	0.21%	0.19%	0.19%	0.18%	0.18%	0.19%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	4.98B	5.81B	6.59B	6.11B	6.58B	10.88B	12.26B	12.66B	11.53B	10.11B
Operating Margin %	0.08%	0.09%	0.1%	0.09%	0.09%	0.12%	0.13%	0.13%	0.13%	0.12%
Operating Income Growth %	0.03%	0.17%	0.13%	-0.07%	0.08%	0.65%	0.13%	0.03%	-0.09%	-0.12%
EBITDA+	6.57B	7.4B	8.13B	7.71B	8.46B	12.96B	14.65B	15.17B	13.46B	12.08B
EBITDA Margin %	0.11%	0.11%	0.12%	0.11%	0.12%	0.14%	0.15%	0.16%	0.16%	0.14%
EBITDA Growth %	0.03%	0.13%	0.1%	-0.05%	0.1%	0.53%	0.13%	0.04%	-0.11%	-0.1%
D&A (Non-Cash Add-back)	1.59B	1.59B	1.54B	1.61B	1.88B	2.07B	2.4B	2.51B	1.92B	1.97B
EBIT	4.96B	5.86B	6.14B	4.04B	6.34B	8.61B	12.07B	10.17B	11.65B	10.62B
Net Interest Income+	-540M	-643M	-636M	-621M	-691M	-848M	-847M	-1.1B	-1.37B	-1.31B
Interest Income	4M	12M	16M	28M	27M	24M	12M	37M	101M	159M
Interest Expense	544M	655M	652M	649M	718M	872M	859M	1.14B	1.47B	1.47B
Other Income/Expense	-562M	-612M	-1.1B	-2.71B	-956M	-3.14B	-1.05B	-3.62B	-1.36B	-959M
Pretax Income+	4.42B	5.2B	5.49B	3.39B	5.62B	7.74B	11.21B	9.04B	10.18B	9.15B
Pretax Margin %	0.07%	0.08%	0.08%	0.05%	0.08%	0.09%	0.12%	0.09%	0.12%	0.11%
Income Tax+	1.87B	2.11B	2.04B	1.08B	1.34B	1.9B	2.77B	2.6B	2.45B	2.2B
Effective Tax Rate %	0.58%	0.59%	0.63%	0.68%	0.76%	0.75%	0.75%	0.71%	0.76%	0.76%
Net Income+	2.55B	3.09B	3.45B	2.31B	4.28B	5.83B	8.44B	6.44B	7.73B	6.96B
Net Margin %	0.04%	0.05%	0.05%	0.03%	0.06%	0.07%	0.09%	0.07%	0.09%	0.08%
Net Income Growth %	-0.06%	0.21%	0.12%	-0.33%	0.85%	0.36%	0.45%	-0.24%	0.2%	-0.1%
Net Income (Continuing)	2.55B	3.09B	3.45B	2.31B	4.28B	5.83B	8.44B	6.44B	7.73B	6.96B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	2.73	3.47	4.09	2.85	5.49	7.75	12.03	10.17	13.20	12.23
EPS Growth %	0.01%	0.27%	0.18%	-0.3%	0.93%	0.41%	0.55%	-0.15%	0.3%	-0.07%
EPS (Basic)	2.73	3.48	4.09	2.85	5.49	7.77	12.08	10.20	13.24	12.25
Diluted Shares Outstanding	929M	881M	840M	812M	778M	750M	699M	631M	584M	567.46M
Basic Shares Outstanding	927M	880M	839M	811M	777M	748M	696M	629M	582M	567M
Dividend Payout Ratio	0.38%	0.36%	0.37%	0.63%	0.38%	0.29%	0.24%	0.37%	0.33%	0.37%

Balance Sheet

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Total Current Assets+	10.56B	12B	12.77B	14.23B	15.32B	22.33B	20.06B	21.44B	19.07B	20.36B
Cash & Short-Term Investments	712M	658M	690M	729M	876M	5.2B	1.4B	1.73B	1.23B	2.13B
Cash Only	405M	558M	588M	511M	716M	4.69B	1.13B	1.35B	921M	1.76B
Short-Term Investments	307M	100M	102M	218M	160M	506M	271M	384M	307M	372M
Accounts Receivable	0	0	0	0	0	0	0	0	0	0
Days Sales Outstanding	-	-	-	-	-	-	-	-	-	-
Inventory	9.46B	10.46B	11.39B	12.56B	13.18B	16.19B	17.61B	18.53B	16.89B	17.41B
Days Inventory Outstanding	86.33	86.67	87.38	91.92	95.32	96.22	97.57	101.61	104.07	110.46
Other Current Assets	391M	884M	689M	938M	1.26B	937M	1.05B	1.18B	949M	816M
Total Non-Current Assets+	21.25B	22.41B	22.52B	20.41B	25.67B	25.96B	26.27B	23.83B	24.29B	24.21B
Property, Plant & Equipment	19.58B	19.95B	19.72B	18.43B	22.56B	22.99B	23.18B	21.09B	21.39B	21.39B
Fixed Asset Turnover	3.02x	3.26x	3.48x	3.87x	3.20x	3.90x	4.15x	4.60x	4.04x	3.91x
Goodwill	0	1.08B	1.31B	303M	303M	311M	311M	311M	0	0
Intangible Assets	0	0	0	0	259M	0	522M	303M	0	0
Long-Term Investments	615M	366M	408M	256M	372M	200M	247M	121M	252M	277M
Other Non-Current Assets	272M	789M	915M	995M	443M	571M	157M	196M	838M	836M
Total Assets+	31.81B	34.41B	35.29B	34.64B	40.99B	48.29B	46.33B	45.27B	43.36B	44.57B
Asset Turnover	1.86x	1.89x	1.94x	2.06x	1.76x	1.86x	2.08x	2.14x	1.99x	1.88x
Asset Growth %	-0%	0.08%	0.03%	-0.02%	0.18%	0.18%	-0.04%	-0.02%	-0.04%	0.03%
Total Current Liabilities+	10.49B	11.97B	12.1B	14.5B	15.18B	18.73B	19.67B	19.51B	15.57B	18.76B
Accounts Payable	5.63B	6.65B	6.59B	8.28B	7.66B	10.88B	11.35B	10.52B	8.7B	9.29B
Days Payables Outstanding	51.42	55.12	50.54	60.58	55.39	64.68	62.93	57.7	53.62	58.94
Short-Term Debt	1.1B	1.3B	1.43B	1.83B	3.04B	1.65B	1.5B	1.61B	1.02B	3.15B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	1.86B	1.98B	1.95B	2.42B	2.58B	3.07B	3.21B	3.49B	3.44B	3.46B
Current Ratio	1.01x	1.00x	1.06x	0.98x	1.01x	1.19x	1.02x	1.10x	1.23x	1.09x
Quick Ratio	0.11x	0.13x	0.11x	0.11x	0.14x	0.33x	0.12x	0.15x	0.14x	0.16x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	13.67B	16B	17.32B	16.5B	23.84B	28.12B	31.48B	40.02B	42.84B	40.05B
Long-Term Debt	11.05B	13.58B	14.72B	13.68B	16.16B	20.1B	23.32B	32.43B	34.96B	32.51B
Capital Lease Obligations	492M	815M	709M	709M	4.55B	4.45B	4.56B	3.96B	4.16B	4.02B
Deferred Tax Liabilities	547M	0	0	133M	1.52B	1.55B	1.69B	1.56B	1.56B	1.47B
Other Non-Current Liabilities	846M	843M	1.09B	1.15B	712M	991M	781M	862M	931M	779M
Total Liabilities	24.16B	27.97B	29.42B	31B	39.02B	46.85B	51.15B	59.53B	58.41B	58.8B
Total Debt+	12.65B	15.7B	16.86B	16.22B	23.75B	26.21B	29.38B	37.99B	40.15B	39.68B
Net Debt	12.24B	15.14B	16.27B	15.71B	23.03B	21.52B	28.25B	36.65B	39.22B	37.92B
Debt / Equity	1.65x	2.44x	2.87x	4.45x	12.04x	18.24x	-	-	-	-
Debt / EBITDA	1.93x	2.12x	2.07x	2.10x	2.81x	2.02x	2.01x	2.50x	2.98x	3.28x
Net Debt / EBITDA	1.86x	2.05x	2.00x	2.04x	2.72x	1.66x	1.93x	2.42x	2.91x	3.14x
Interest Coverage	9.16x	8.87x	10.10x	9.41x	9.16x	12.48x	14.27x	11.12x	7.83x	6.88x
Total Equity+	7.65B	6.43B	5.87B	3.64B	1.97B	1.44B	-4.82B	-14.25B	-15.05B	-14.23B
Equity Growth %	-0.23%	-0.16%	-0.09%	-0.38%	-0.46%	-0.27%	-4.35%	-1.96%	-0.06%	0.05%
Book Value per Share	8.24	7.30	6.99	4.49	2.53	1.92	-6.89	-22.59	-25.77	-25.08
Total Shareholders' Equity	7.65B	6.43B	5.87B	3.64B	1.97B	1.44B	-4.82B	-14.25B	-15.05B	-14.23B
Common Stock	455M	433M	415M	401M	381M	366M	335M	301M	287M	280M
Retained Earnings	7.59B	6.24B	5.42B	3.45B	1.73B	1.12B	-5.12B	-14.86B	-15.64B	-14.8B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-394M	-240M	11M	-209M	-136M	-136M	-36M	307M	300M	288M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Cash from Operations+	4.78B	5.62B	5.07B	6.19B	4.3B	11.05B	10.11B	8.59B	8.14B	9.63B
Operating CF Margin %	0.08%	0.09%	0.07%	0.09%	0.06%	0.12%	0.11%	0.09%	0.09%	0.12%
Operating CF Growth %	-0.03%	0.17%	-0.1%	0.22%	-0.31%	1.57%	-0.08%	-0.15%	-0.05%	0.18%
Net Income	2.55B	3.09B	3.45B	2.31B	4.28B	5.83B	8.44B	6.44B	7.73B	6.96B
Depreciation & Amortization	1.59B	1.59B	1.54B	1.61B	1.41B	1.59B	1.88B	1.98B	1.92B	1.97B
Stock-Based Compensation	117M	90M	99M	74M	98M	155M	230M	224M	210M	221M
Deferred Taxes	-68M	28M	53M	-151M	177M	-108M	135M	-239M	6M	9M
Other Non-Cash Items	624M	445M	422M	1.59B	597M	1.68B	551M	3.07B	503M	348M
Working Capital Changes	-22M	371M	-496M	758M	-2.27B	1.9B	-1.13B	-2.88B	-2.23B	118M
Change in Receivables	0	0	0	0	0	1.14B	0	0	0	0
Change in Inventory	-582M	-178M	-791M	-1.29B	-600M	-2.97B	-1.41B	-2.59B	1.64B	-514M
Change in Payables	524M	653M	-92M	1.72B	-637M	3.21B	466M	-549M	-1.82B	633M
Cash from Investing+	-1.34B	-3.36B	-1.44B	-1.08B	-1.37B	-1.89B	-1.65B	-1.31B	-1.9B	-1.74B
Capital Expenditures	-1.2B	-1.17B	-1.12B	-1.17B	-1.48B	-1.79B	-1.85B	-1.83B	-1.96B	-1.93B
CapEx % of Revenue	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	29M	24M	58M	-2M	0	-25M	-134M	44M	26M	94M
Cash from Financing+	-3.49B	-2.09B	-3.61B	-5.12B	-2.73B	-5.19B	-12.02B	-7.05B	-6.67B	-7.05B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-957M	-1.12B	-1.29B	-1.46B	-1.62B	-1.7B	-1.98B	-2.37B	-2.53B	-2.57B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	180M	64M	129M	109M	117M	114M	126M	146M	120M	117M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	3.59B	4.45B	3.94B	5.02B	2.81B	9.26B	8.26B	6.76B	6.18B	7.7B
FCF Margin %	0.06%	0.07%	0.06%	0.07%	0.04%	0.1%	0.09%	0.07%	0.07%	0.09%
FCF Growth %	-0.11%	0.24%	-0.11%	0.27%	-0.44%	2.29%	-0.11%	-0.18%	-0.09%	0.25%
FCF per Share	3.86	5.05	4.69	6.18	3.61	12.34	11.82	10.71	10.58	13.57
FCF Conversion (FCF/Net Income)	1.88x	1.82x	1.47x	2.68x	1.00x	1.89x	1.20x	1.33x	1.05x	1.38x
Interest Paid	0	0	654M	635M	671M	824M	837M	976M	1.46B	1.48B
Taxes Paid	0	0	1.67B	1.32B	1.42B	1.59B	2.73B	1.72B	3.7B	1.65B

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	28.9%	43.88%	56.02%	48.63%	152.46%	342.33%	-	-	-	-
Return on Invested Capital (ROIC)	18.33%	21.02%	22.6%	22.07%	22.25%	34.03%	39.62%	41.44%	37.15%	31.69%
Gross Margin	32.31%	32.26%	30.65%	30.05%	30.05%	31.44%	31.58%	31.41%	31.41%	31.25%
Net Margin	4.31%	4.75%	5.02%	3.25%	5.93%	6.51%	8.77%	6.63%	8.94%	8.31%
Debt / Equity	1.65x	2.44x	2.87x	4.45x	12.04x	18.24x	-	-	-	-
Interest Coverage	9.16x	8.87x	10.10x	9.41x	9.16x	12.48x	14.27x	11.12x	7.83x	6.88x
FCF Conversion	1.88x	1.82x	1.47x	2.68x	1.00x	1.89x	1.20x	1.33x	1.05x	1.38x
Revenue Growth	5.07%	10.06%	5.54%	3.92%	1.18%	24.19%	7.43%	0.84%	-11.01%	-3.13%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Home Decor	27.99B	25.87B	31.58B	34.02B	36.22B	32.13B	30.86B
Home Decor Growth	-	-7.57%	22.07%	7.75%	6.45%	-11.29%	-3.95%
Building Products	-	23.02B	28.18B	31.15B	31.05B	26.89B	26.38B
Building Products Growth	-	-	22.40%	10.56%	-0.33%	-13.38%	-1.91%
Hardlines	-	21.23B	27.8B	28.57B	27.19B	25.02B	24.26B
Hardlines Growth	-	-	30.93%	2.77%	-4.83%	-7.98%	-3.05%
Other Sales	1.96B	2.03B	2.04B	2.5B	2.6B	2.33B	2.18B
Other Sales Growth	-	3.73%	0.74%	22.52%	3.88%	-10.27%	-6.73%
Building and Maintenance	28.58B	-	-	-	-	-	-
Building and Maintenance Growth	-	-	-	-	-	-	-
Seasonal	12.79B	-	-	-	-	-	-
Seasonal Growth	-	-	-	-	-	-	-

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	65.87B	67.15B	84.3B	90.35B	92.01B	86.38B	83.67B
UNITED STATES Growth	-	1.94%	25.55%	7.17%	1.84%	-6.12%	-3.13%
Non-US	5.44B	5B	5.29B	5.9B	5.05B	-	-
Non-US Growth	-	-8.02%	5.86%	11.48%	-14.45%	-	-

Frequently Asked Questions

Valuation & Price

Lowe's Companies, Inc. (LOW) has a price-to-earnings (P/E) ratio of 22.4x. This is roughly in line with market averages.

Growth & Financials

Lowe's Companies, Inc. (LOW) reported $84.25B in revenue for fiscal year 2024. This represents a 68% increase from $50.21B in 2011.

Lowe's Companies, Inc. (LOW) saw revenue decline by 3.1% over the past year.

Yes, Lowe's Companies, Inc. (LOW) is profitable, generating $6.78B in net income for fiscal year 2024 (8.3% net margin).

Dividend & Returns

Yes, Lowe's Companies, Inc. (LOW) pays a dividend with a yield of 1.65%. This makes it attractive for income-focused investors.

Lowe's Companies, Inc. (LOW) generated $7.05B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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