The company's financial position is strained by a persistent negative equity trend that reached -$9.3 billion in 2026Q1, alongside a substantial total debt load of $42.5 billion.
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 | Jan'11 | Jan'10 | Jan'09 | Jan'08 | Jan'07 | Jan'06 | Jan'05 | Jan'04 | Jan'03 | Jan'02 | Jan'01 | Jan'00 | Jan'99 | Jan'98 | Jan'97 |
|---|
| Total Current Assets | 22.16B | 20.95B | 20.36B | 19.07B | 21.44B | 20.06B | 22.33B | 15.32B | 14.23B | 12.77B | 12B | 10.56B | 10.08B | 10.3B | 9.78B | 10.07B | 9.97B | 9.73B | 9.25B | 8.69B | 8.31B | 7.83B | 6.97B | 6.69B | 5.57B | 4.92B | 4.18B | 3.71B | 2.59B | 2.11B | 1.85B |
| Cash & Short-Term Investments | 1.24B | 1.35B | 2.13B | 1.23B | 1.73B | 1.4B | 5.2B | 876M | 729M | 690M | 658M | 712M | 591M | 576M | 666M | 1.3B | 1.12B | 1.06B | 661M | 530M | 796M | 876M | 813M | 1.62B | 1.13B | 853.23M | 468.53M | 568.79M | 249.22M | 195.1M | 40.4M |
| Cash Only | 786M | 982M | 1.76B | 921M | 1.35B | 1.13B | 4.69B | 716M | 511M | 588M | 558M | 405M | 466M | 391M | 541M | 1.01B | 652M | 632M | 245M | 281M | 364M | 423M | 642M | 1.45B | 853M | 798.84M | 455.66M | 491.12M | 228.87M | 195.1M | 40.4M |
| Short-Term Investments | 458M | 370M | 372M | 307M | 384M | 271M | 506M | 160M | 218M | 102M | 100M | 307M | 125M | 185M | 125M | 286M | 471M | 425M | 416M | 249M | 432M | 453M | 283M | 178M | 273M | 54.39M | 12.87M | 77.67M | 20M | 0 | 0 |
| Accounts Receivable | 1.15B | 1.09B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18M | 9M | 146M | 172M | 166M | 160.99M | 147.9M | 143.9M | 118.4M | 117.6M |
| Days Sales Outstanding | 3.57 | 4.61 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.15 | 0.09 | 1.73 | 2.37 | 2.74 | 3.13 | 3.39 | 4.29 | 4.26 | 4.99 |
| Inventory | 18.45B | 17.3B | 17.41B | 16.89B | 18.53B | 17.61B | 16.19B | 13.18B | 12.56B | 11.39B | 10.46B | 9.46B | 8.91B | 9.13B | 8.6B | 8.36B | 8.32B | 8.25B | 8.21B | 7.61B | 7.14B | 6.63B | 5.98B | 4.58B | 3.97B | 3.61B | 3.29B | 2.81B | 2.1B | 1.71B | 1.61B |
| Days Inventory Outstanding | 107.97 | 110.01 | 110.46 | 104.07 | 101.61 | 97.57 | 96.22 | 95.32 | 91.92 | 87.38 | 86.67 | 86.33 | 85.26 | 91.51 | 90.42 | 88.81 | 91.35 | 93.01 | 90.07 | 84.38 | 81.76 | 82.28 | 87.1 | 78.81 | 78.44 | 83.71 | 88.91 | 89.07 | 85.84 | 84.04 | 91.95 |
| Other Current Assets | 1.32B | 1.21B | 816M | 949M | 1.18B | 1.05B | 937M | 1.26B | 938M | 689M | 884M | 391M | 578M | 593M | 518M | 417M | 523M | 426M | 381M | 545M | 374M | 277M | 170M | 168M | 302M | 290M | 242.54M | 180.49M | 114.3M | 81.5M | 87.6M |
| Total Non-Current Assets | 32.78B | 33.19B | 24.21B | 24.29B | 23.83B | 26.27B | 25.96B | 25.67B | 20.41B | 22.52B | 22.41B | 21.25B | 21.75B | 22.44B | 22.88B | 23.49B | 23.73B | 23.27B | 23.43B | 22.18B | 19.45B | 16.85B | 14.23B | 12.36B | 10.54B | 8.82B | 7.2B | 5.3B | 4.22B | 3.11B | 2.58B |
| Property, Plant & Equipment | 22.44B | 22.66B | 21.39B | 21.39B | 21.09B | 23.18B | 22.99B | 22.56B | 18.43B | 19.72B | 19.95B | 19.58B | 20.03B | 20.83B | 21.48B | 21.97B | 22.09B | 22.5B | 22.72B | 21.36B | 18.97B | 16.35B | 13.91B | 11.82B | 10.35B | 8.65B | 7.03B | 5.18B | 3.64B | 3.01B | 2.49B |
| Fixed Asset Turnover | 3.96x | 3.81x | 3.91x | 4.04x | 4.60x | 4.15x | 3.90x | 3.20x | 3.87x | 3.48x | 3.26x | 3.02x | 2.81x | 2.56x | 2.35x | 2.29x | 2.21x | 2.10x | 2.12x | 2.26x | 2.47x | 2.64x | 2.62x | 2.61x | 2.56x | 2.56x | 2.67x | 3.07x | 3.37x | 3.37x | 3.45x |
| Goodwill | 3.94B | 3.94B | 0 | 0 | 311M | 311M | 311M | 303M | 303M | 1.31B | 1.08B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 5.81B | 5.91B | 0 | 0 | 303M | 522M | 0 | 259M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.12B | 319M | 277M | 252M | 121M | 247M | 200M | 372M | 256M | 408M | 366M | 615M | 354M | 279M | 271M | 504M | 1.01B | 277M | 253M | 509M | 165M | 294M | 146M | 0 | 0 | 22M | 35M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 344M | 352M | 836M | 838M | 196M | 157M | 571M | 443M | 995M | 915M | 789M | 272M | 1.36B | 1.32B | 1.13B | 1.01B | 635M | 497M | 460M | 313M | 317M | 203M | 178M | 410M | 189M | 162.39M | 165.78M | 125.56M | 122.1M | 104.5M | 89.1M |
| Total Assets | 54.94B | 54.14B | 44.57B | 43.36B | 45.27B | 46.33B | 48.29B | 40.99B | 34.64B | 35.29B | 34.41B | 31.81B | 31.83B | 32.73B | 32.67B | 33.56B | 33.7B | 33.01B | 32.69B | 30.87B | 27.77B | 24.64B | 21.14B | 19.04B | 16.11B | 13.74B | 11.38B | 9.01B | 6.34B | 5.22B | 4.43B |
| Asset Turnover | 1.69x | 1.59x | 1.88x | 1.99x | 2.14x | 2.08x | 1.86x | 1.76x | 2.06x | 1.94x | 1.89x | 1.86x | 1.77x | 1.63x | 1.55x | 1.50x | 1.45x | 1.43x | 1.48x | 1.56x | 1.69x | 1.76x | 1.73x | 1.62x | 1.64x | 1.61x | 1.65x | 1.76x | 1.93x | 1.94x | 1.94x |
| Asset Growth % | 65.77% | 21.47% | 2.81% | -4.23% | -2.28% | -4.06% | 17.81% | 18.33% | -1.84% | 2.57% | 8.16% | -0.04% | -2.76% | 0.2% | -2.66% | -0.42% | 2.1% | 0.98% | 5.89% | 11.17% | 12.7% | 16.56% | 11.01% | 18.21% | 17.27% | 20.75% | 26.22% | 42.04% | 21.56% | 17.68% | 24.7% |
| Total Current Liabilities | 20.27B | 19.46B | 18.76B | 15.57B | 19.51B | 19.67B | 18.73B | 15.18B | 14.5B | 12.1B | 11.97B | 10.49B | 9.35B | 8.88B | 7.71B | 7.89B | 7.12B | 7.36B | 8.02B | 7.75B | 6.54B | 5.83B | 5.65B | 4.37B | 3.58B | 3.02B | 2.93B | 2.39B | 1.77B | 1.45B | 1.35B |
| Accounts Payable | 11.97B | 9.76B | 9.29B | 8.7B | 10.52B | 11.35B | 10.88B | 7.66B | 8.28B | 6.59B | 6.65B | 5.63B | 5.12B | 5.01B | 4.66B | 4.35B | 4.35B | 4.29B | 4.11B | 3.71B | 3.52B | 2.83B | 2.69B | 2.21B | 1.94B | 1.72B | 1.71B | 1.57B | 1.22B | 969.8M | 914.2M |
| Days Payables Outstanding | 64.66 | 62.07 | 58.94 | 53.62 | 57.7 | 62.93 | 64.68 | 55.39 | 60.58 | 50.54 | 55.12 | 51.42 | 49.02 | 50.21 | 48.96 | 46.26 | 47.76 | 48.34 | 45.08 | 41.17 | 40.33 | 35.12 | 39.13 | 38.03 | 38.41 | 39.76 | 46.4 | 49.63 | 49.78 | 47.53 | 52.34 |
| Short-Term Debt | 1.19B | 3.14B | 3.15B | 1.02B | 1.61B | 1.5B | 1.65B | 3.04B | 1.83B | 1.43B | 1.3B | 1.1B | 552M | 435M | 47M | 592M | 36M | 552M | 1.02B | 1.1B | 111M | 32M | 630M | 77M | 79M | 159.26M | 292.17M | 152.38M | 191.5M | 110.6M | 103.5M |
| Deferred Revenue (Current) | 6.2B | 1.48B | 1.36B | 1.41B | 1.6B | 1.91B | 1.61B | 1.22B | 1.3B | 1.38B | 1.25B | 1.08B | 979M | 892M | 824M | 801M | 707M | 683M | 674M | 717M | 731M | 709M | 0 | 59M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 3.85B | 5.08B | 3.46B | 3.44B | 3.49B | 3.21B | 3.07B | 2.58B | 2.42B | 1.95B | 1.98B | 1.86B | 1.92B | 1.76B | 1.51B | 1.53B | 1.36B | 1.26B | 1.78B | 1.79B | 1.8B | 1.83B | 1.94B | 1.58B | 1.25B | 921.57M | 904.46M | 666.63M | 353.26M | 368.9M | 330.8M |
| Current Ratio | 1.09x | 1.08x | 1.09x | 1.23x | 1.10x | 1.02x | 1.19x | 1.01x | 0.98x | 1.06x | 1.00x | 1.01x | 1.08x | 1.16x | 1.27x | 1.28x | 1.40x | 1.32x | 1.15x | 1.12x | 1.27x | 1.34x | 1.23x | 1.53x | 1.56x | 1.63x | 1.43x | 1.55x | 1.46x | 1.46x | 1.37x |
| Quick Ratio | 0.18x | 0.19x | 0.16x | 0.14x | 0.15x | 0.12x | 0.33x | 0.14x | 0.11x | 0.11x | 0.13x | 0.11x | 0.13x | 0.13x | 0.15x | 0.22x | 0.23x | 0.20x | 0.13x | 0.14x | 0.18x | 0.21x | 0.18x | 0.48x | 0.45x | 0.43x | 0.30x | 0.38x | 0.27x | 0.27x | 0.18x |
| Cash Conversion Cycle | 46.87 | 52.54 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 47.31 | 48.07 | 42.51 | 42.4 | 46.69 | 45.65 | 42.84 | 40.35 | 40.77 | 44.6 |
| Total Non-Current Liabilities | 43.94B | 44.6B | 40.05B | 42.84B | 40.02B | 31.48B | 28.12B | 23.84B | 16.5B | 17.32B | 16B | 13.67B | 12.51B | 12B | 11.1B | 9.13B | 8.47B | 6.58B | 6.61B | 7.02B | 5.5B | 4.51B | 3.96B | 4.37B | 4.23B | 4.04B | 2.95B | 1.93B | 1.44B | 1.17B | 869M |
| Long-Term Debt | 36.75B | 37.49B | 32.51B | 34.96B | 32.43B | 23.32B | 20.1B | 16.16B | 13.68B | 14.72B | 13.58B | 11.05B | 10.32B | 9.7B | 8.65B | 6.67B | 6.22B | 4.22B | 4.72B | 5.24B | 3.96B | 3.08B | 2.64B | 3.68B | 3.74B | 3.73B | 2.7B | 1.73B | 1.28B | 1.05B | 767.3M |
| Capital Lease Obligations | 15.85B | 4.04B | 4.02B | 4.16B | 3.96B | 4.56B | 4.45B | 4.55B | 709M | 709M | 815M | 492M | 491M | 388M | 375M | 366M | 318M | 305M | 314M | 341M | 366M | 366M | 424M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 3.09B | 1.04B | 1.47B | 1.56B | 1.56B | 1.69B | 1.55B | 1.52B | 133M | 0 | 0 | 547M | 97M | 291M | 455M | 531M | 467M | 598M | 660M | 670M | 735M | 735M | 736M | 657M | 478M | 304.7M | 251.45M | 199.82M | 160.3M | 123.8M | 101.6M |
| Other Non-Current Liabilities | 762M | 764M | 779M | 931M | 862M | 781M | 991M | 712M | 1.15B | 1.09B | 843M | 846M | 869M | 896M | 901M | 865M | 833M | 906M | 431M | 367M | 404M | 335M | 158M | 30M | 15M | 6.24M | 3.17M | 4.5M | 0 | 0 | 100K |
| Total Liabilities | 64.21B | 64.06B | 58.8B | 58.41B | 59.53B | 51.15B | 46.85B | 39.02B | 31B | 29.42B | 27.97B | 24.16B | 21.86B | 20.88B | 18.81B | 17.03B | 15.59B | 13.94B | 14.63B | 14.77B | 12.04B | 10.34B | 9.6B | 8.73B | 7.81B | 7.06B | 5.88B | 4.32B | 3.21B | 2.62B | 2.22B |
| Total Debt | 42.54B | 44.68B | 39.68B | 40.15B | 37.99B | 29.38B | 26.21B | 23.75B | 16.22B | 16.86B | 15.7B | 12.65B | 11.37B | 10.52B | 9.08B | 7.63B | 6.57B | 5.08B | 6.06B | 6.68B | 4.44B | 3.47B | 3.69B | 3.75B | 3.81B | 3.89B | 2.99B | 1.88B | 1.47B | 1.16B | 870.8M |
| Net Debt | 41.75B | 43.7B | 37.92B | 39.22B | 36.65B | 28.25B | 21.52B | 23.03B | 15.71B | 16.27B | 15.14B | 12.24B | 10.9B | 10.13B | 8.54B | 6.61B | 5.92B | 4.45B | 5.82B | 6.4B | 4.07B | 3.05B | 3.16B | 2.31B | 2.96B | 3.09B | 2.53B | 1.39B | 1.25B | 961.1M | 830.4M |
| Debt / Equity | -4.59x | - | - | - | - | - | 18.24x | 12.04x | 4.45x | 2.87x | 2.44x | 1.65x | 1.14x | 0.89x | 0.66x | 0.46x | 0.36x | 0.27x | 0.34x | 0.41x | 0.28x | 0.24x | 0.32x | 0.36x | 0.46x | 0.58x | 0.54x | 0.40x | 0.47x | 0.44x | 0.39x |
| Debt / EBITDA | 3.60x | 3.69x | 3.28x | 2.98x | 2.50x | 2.01x | 2.02x | 2.81x | 2.10x | 2.07x | 2.12x | 1.93x | 1.77x | 1.83x | 1.72x | 1.43x | 1.24x | 1.03x | 1.10x | 1.08x | 0.69x | 0.61x | 0.79x | 0.96x | 1.20x | 1.68x | 1.65x | 1.24x | 1.29x | 1.27x | 1.13x |
| Net Debt / EBITDA | 3.53x | 3.61x | 3.14x | 2.91x | 2.42x | 1.93x | 1.66x | 2.72x | 2.04x | 2.00x | 2.05x | 1.86x | 1.70x | 1.76x | 1.62x | 1.24x | 1.12x | 0.90x | 1.06x | 1.03x | 0.64x | 0.53x | 0.68x | 0.59x | 0.93x | 1.34x | 1.40x | 0.92x | 1.10x | 1.05x | 1.08x |
| Interest Coverage | 6.39x | 6.22x | 7.23x | 7.91x | 8.94x | 14.05x | 9.88x | 8.83x | 6.23x | 9.42x | 8.94x | 9.12x | 9.18x | 8.75x | 7.83x | 8.59x | 10.58x | 10.03x | 11.96x | 19.87x | 25.26x | 23.15x | 19.42x | - | - | - | - | - | - | - | - |
| Total Equity | -9.27B | -9.92B | -14.23B | -15.05B | -14.25B | -4.82B | 1.44B | 1.97B | 3.64B | 5.87B | 6.43B | 7.65B | 9.97B | 11.85B | 13.86B | 16.53B | 18.11B | 19.07B | 18.05B | 16.1B | 15.72B | 14.34B | 11.54B | 10.31B | 8.3B | 6.67B | 5.49B | 4.7B | 3.14B | 2.6B | 2.22B |
| Equity Growth % | 100.17% | 30.31% | 5.44% | -5.58% | -195.97% | -435.14% | -27.13% | -45.88% | -37.95% | -8.72% | -15.94% | -23.21% | -15.9% | -14.46% | -16.19% | -8.72% | -5.02% | 5.62% | 12.16% | 2.37% | 9.67% | 24.31% | 11.89% | 24.17% | 24.38% | 21.47% | 17.03% | 49.73% | 20.59% | 17.28% | 33.85% |
| Book Value per Share | -16.55 | -17.71 | -25.08 | -25.77 | -22.59 | -6.89 | 1.92 | 2.53 | 4.49 | 6.99 | 7.30 | 8.24 | 10.07 | 11.17 | 12.03 | 12.99 | 12.91 | 13.03 | 12.30 | 10.66 | 10.04 | 8.92 | 7.19 | 6.32 | 5.18 | 4.20 | 3.53 | 3.06 | 2.09 | 1.77 | 1.62 |
| Total Shareholders' Equity | -9.27B | -9.92B | -14.23B | -15.05B | -14.25B | -4.82B | 1.44B | 1.97B | 3.64B | 5.87B | 6.43B | 7.65B | 9.97B | 11.85B | 13.86B | 16.53B | 18.11B | 19.07B | 18.05B | 16.1B | 15.72B | 14.34B | 11.54B | 10.31B | 8.3B | 6.67B | 5.49B | 4.7B | 3.14B | 2.6B | 2.22B |
| Common Stock | 280M | 281M | 280M | 287M | 301M | 335M | 366M | 381M | 401M | 415M | 433M | 455M | 480M | 515M | 555M | 621M | 677M | 729M | 735M | 729M | 762M | 392M | 387M | 394M | 391M | 387.86M | 191.62M | 191.18M | 187.19M | 0 | 0 |
| Retained Earnings | -9.88B | -10.84B | -14.8B | -15.64B | -14.86B | -5.12B | 1.12B | 1.73B | 3.45B | 5.42B | 6.24B | 7.59B | 9.59B | 11.36B | 13.22B | 15.85B | 17.37B | 18.31B | 17.05B | 15.35B | 14.86B | 12.23B | 9.63B | 7.57B | 5.89B | 4.48B | 3.52B | 2.76B | 2.14B | 1.57B | 1.25B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 266M | 271M | 288M | 300M | 307M | -36M | -136M | -136M | -209M | 11M | -240M | -394M | -103M | -17M | 52M | 46M | 53M | 27M | -6M | 8M | 1M | 1M | -4.1B | 1M | 1M | 1M | -1.86M | -13.29M | -29.97M | -789.8M | -609.7M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Negative equity and leverage
According to the latest quarterly filings, Lowe's has maintained a persistent negative equity position, which deepened to -$9.3 billion in 2026Q1, reflecting a multi-year trend of aggressive capital returns that have consistently outpaced the company's ability to retain earnings and build book value.
The structural erosion of shareholder equity suggests that management prioritizes aggressive share repurchases over balance sheet fortification. Investors should monitor whether this trajectory limits the company's financial flexibility during potential cyclical downturns in the housing market.
As reported in recent financial statements, Lowe's total debt remains substantial at $42.5 billion as of 2026Q1, a figure that has fluctuated within a narrow range despite the company's ongoing efforts to optimize its capital structure through significant share buyback programs.
The reliance on debt to fund shareholder returns appears to be a strategic choice, yet it leaves the company with limited cushion should interest rates remain elevated for an extended period. This leverage profile warrants further investigation into the sustainability of debt service coverage if operating cash flows face further volatility.
Based on the provided data, Lowe's current ratio has hovered near 1.09 as of 2026Q1, indicating that the company maintains a relatively thin liquidity buffer relative to its massive scale of operations and the inherent volatility of its inventory-heavy business model.
A current ratio near parity suggests that the company relies heavily on the rapid turnover of inventory to meet short-term obligations. Any disruption in consumer demand or supply chain efficiency could quickly pressure this liquidity position, necessitating a closer look at the company's access to revolving credit facilities.
As indicated by the company's balance sheet, retained earnings have remained deeply negative, reaching -$9.9 billion in 2026Q1, which highlights the cumulative impact of aggressive dividend payouts and share repurchases that have consistently exceeded the company's net income generation over the past ten quarters.
This persistent deficit in retained earnings suggests that the company is effectively liquidating its equity base to return capital to shareholders. While this may signal management's confidence in future cash flows, it also leaves the balance sheet vulnerable to any sustained period of operational underperformance.
Based on the reported figures, goodwill has reappeared on the balance sheet at $3.9 billion in 2026Q1 after being absent for several quarters, which may indicate recent acquisitions or accounting adjustments that warrant careful scrutiny regarding potential future impairment risks.
The sudden re-emergence of intangible assets suggests that the company may be pursuing inorganic growth strategies to bolster its 'Total Home' initiative. Investors should monitor whether these assets are supported by tangible operational synergies or if they represent an overpayment for market share in a competitive landscape.
Quick answers to the most common questions about buying LOW stock.
As of 2025, Lowe's Companies, Inc. (LOW) had total assets of $54.14B including $20.95B in current assets.
Lowe's Companies, Inc. (LOW) carries total debt of $44.68B, offset by $1.35B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Lowe's Companies, Inc. (LOW) has total shareholders' equity (book value) of $-9917.0M ($-17.71 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Lowe's Companies, Inc. (LOW) reported a current ratio of 1.08x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.