Lowe's Companies, Inc.

LOW · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$149,808	$146,832	$122,407	$125,929	$159,914	$112,415	$78,316	$64,788	$70,562	$49,237	$48,281	$45,653	$49,021	$43,918	$34,101	$34,745	$32,149	$26,619	$39,143	$51,745	$49,418	$44,431	$42,571	$26,822	$35,574	$20,609	$17,019	$21,166	$9,311	$5,553	$4,993	$5,689	$4,464	$1,986	$1,109	$944	$981	$860	$669	$1,057	$1,013
Enterprise value	$193,133	$184,377	$161,324	$162,191	$187,894	$133,430	$101,190	$80,282	$86,730	$64,278	$60,218	$56,429	$58,966	$52,330	$40,428	$40,195	$36,172	$32,018	$45,293	$55,385	$52,015	$47,197	$44,702	$29,511	$38,614	$23,131	$18,329	$22,392	$10,272	$6,384	$5,826	$6,249	$5,034	$2,276	$1,358	$1,153	$1,106	$1,003	$823	$1,170	$1,118
P/E (TTM) at period end	22.57×	21.16×	15.88×	19.63×	19.02×	19.35×	18.35×	28.08×	20.54×	16.08×	19.05×	17.02×	21.60×	22.58×	18.70×	17.43×	18.16×	12.13×	13.93×	16.67×	17.83×	20.42×	23.09×	17.99×	34.77×	25.45×	25.30×	42.30×	24.31×	19.01×	22.09×	25.44×	33.87×	23.45×	170.67×	13.28×	13.10×	12.43×	11.95×	19.18×	16.96×
P/S (TTM) at period end	1.74×	1.75×	1.42×	1.30×	1.66×	1.25×	1.09×	0.91×	1.03×	0.76×	0.82×	0.81×	0.92×	0.87×	0.68×	0.71×	0.68×	0.55×	0.81×	1.10×	1.14×	1.22×	1.38×	1.03×	1.64×	1.10×	1.07×	1.59×	0.84×	0.65×	0.71×	0.93×	0.98×	0.52×	0.36×	0.33×	0.37×	0.34×	0.27×	0.46×	0.49×
P/B at period end	–	–	–	–	–	78.23×	39.71×	17.78×	12.01×	7.65×	6.31×	4.58×	4.14×	3.17×	2.06×	1.92×	1.69×	1.47×	2.43×	3.29×	3.45×	3.85×	4.13×	3.23×	5.33×	3.75×	3.62×	6.75×	3.58×	2.50×	3.01×	4.01×	5.11×	2.71×	1.66×	1.38×	1.52×	1.47×	1.15×	1.96×	2.49×
EV / EBITDA (TTM)	15.64×	14.82×	11.97×	13.36×	13.45×	11.87×	13.10×	14.27×	10.67×	8.64×	9.31×	8.98×	10.33×	10.10×	8.33×	7.66×	7.47×	5.87×	7.34×	8.67×	9.12×	10.21×	11.39×	9.18×	16.74×	12.77×	12.14×	19.35×	11.09×	8.28×	9.88×	12.47×	15.03×	9.22×	8.97×	5.86×	6.35×	–	–	–	–
EV / Sales (TTM)	2.24×	2.20×	1.87×	1.67×	1.95×	1.49×	1.40×	1.13×	1.26×	0.99×	1.02×	1.00×	1.10×	1.04×	0.81×	0.82×	0.77×	0.66×	0.94×	1.18×	1.20×	1.29×	1.45×	1.13×	1.78×	1.23×	1.15×	1.68×	0.92×	0.74×	0.82×	1.02×	1.11×	0.59×	0.44×	0.41×	0.42×	0.40×	0.34×	0.51×	0.54×
Returns
Return on equity	–	–	–	–	–	404.4%	216.4%	63.3%	58.5%	47.6%	33.1%	26.9%	19.2%	14.0%	11.0%	11.0%	9.3%	12.2%	17.4%	19.7%	19.3%	18.9%	17.9%	18.0%	15.3%	14.7%	14.3%	16.0%	14.7%	13.2%	13.6%	15.7%	15.1%	11.6%	1.0%	10.4%	11.6%	11.8%	9.6%	10.2%	14.7%
Return on invested capital	22.9%	33.6%	36.3%	32.3%	38.9%	31.7%	19.2%	14.2%	18.7%	16.1%	14.4%	14.5%	11.7%	9.9%	9.0%	9.2%	8.4%	9.9%	13.0%	16.2%	16.5%	15.6%	15.2%	14.1%	11.4%	11.0%	12.2%	12.9%	12.5%	12.1%	11.2%	12.8%	11.7%	11.6%	10.1%	11.6%	11.4%	11.4%	9.2%	9.5%	12.8%
Dividend yield	1.8%	1.7%	2.1%	1.9%	1.2%	1.5%	2.1%	2.2%	1.8%	2.3%	2.0%	1.8%	1.5%	1.6%	1.9%	1.6%	1.2%	1.8%	1.1%	0.5%	0.3%	0.3%	0.2%	0.2%	0.2%	0.3%	0.3%	0.2%	0.3%	0.6%	0.6%	0.5%	0.5%	1.1%	1.8%	2.0%	1.9%	–	–	–	–
Financial health
Current ratio	1.08×	1.09×	1.23×	1.10×	1.02×	1.19×	1.01×	0.98×	1.06×	1.00×	1.01×	1.05×	1.16×	1.27×	1.28×	1.40×	1.32×	1.22×	1.12×	1.27×	1.34×	1.23×	1.53×	1.56×	1.63×	1.43×	1.55×	1.46×	1.46×	1.37×	1.69×	1.65×	1.59×	1.49×	1.31×	1.83×	1.94×	2.02×	2.38×	2.13×	2.12×
Debt / equity	(4.03×)	(2.49×)	(2.35×)	(2.34×)	(5.13×)	14.38×	9.49×	4.15×	2.84×	2.32×	1.51×	1.08×	0.88×	0.66×	0.46×	0.36×	0.24×	0.28×	0.39×	0.26×	0.22×	0.28×	0.36×	0.46×	0.58×	0.54×	0.40×	0.47×	0.44×	0.39×	0.54×	0.50×	0.74×	0.46×	0.41×	0.33×	0.28×	0.35×	0.34×	0.30×	0.47×
Effective tax rate	23.9%	24.0%	24.1%	28.8%	24.7%	24.6%	23.9%	31.8%	37.2%	40.5%	42.4%	36.9%	37.8%	37.6%	36.7%	37.7%	36.9%	37.4%	37.7%	37.9%	38.5%	38.5%	38.6%	37.6%	37.5%	36.8%	36.7%	35.1%	33.6%	35.6%	35.8%	34.9%	33.5%	32.7%	(30.0%)	29.1%	31.2%	34.5%	38.3%	49.0%	47.1%
Share count
Diluted shares outstanding	560	568	584	631	699	750	778	812	840	881	929	990	1,061	1,152	1,273	1,403	1,464	1,468	1,510	1,566	1,607	1,605	1,632	1,603	1,590	1,557	1,535	1,503	1,473	1,367	1,329	1,287	1,172	1,168	867	1,185	1,152	1,203	1,120	1,224	1,137

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$90,432	$86,286	$83,674	$86,377	$97,059	$96,250	$89,597	$72,148	$71,309	$68,619	$65,017	$59,074	$56,223	$53,417	$50,521	$50,208	$48,815	$47,220	$48,230	$48,283	$46,927	$43,243	$36,464	$30,838	$26,112	$21,714	$18,779	$15,906	$13,331	$11,108	$8,600	$7,075	$6,110	$4,538	$3,846	$3,056	$2,833	$2,650	$2,517	$2,442	$2,284	$2,073
Cost of revenue	($60,515)	($57,401)	($55,797)	($57,533)	($64,802)	($64,194)	($60,025)	($49,205)	($48,401)	($46,185)	($43,343)	($38,504)	($36,665)	($34,941)	($33,194)	($32,858)	($31,663)	($30,757)	($31,729)	($31,556)	($30,729)	($28,453)	($24,224)	($21,231)	($18,164)	($15,427)	($13,487)	($11,525)	($9,756)	($8,155)	($6,375)	($5,309)	($4,595)	($3,457)	($2,946)	($2,321)	($2,130)	($2,004)	($1,916)	($1,858)	($1,724)	($1,560)
Gross profit	$29,917	$28,885	$27,877	$28,844	$32,257	$32,056	$29,572	$22,943	$22,908	$22,434	$21,674	$20,570	$19,558	$18,476	$17,327	$17,350	$17,152	$16,463	$16,501	$16,727	$16,198	$14,790	$12,240	$9,607	$7,948	$6,287	$5,292	$4,381	$3,574	$2,953	$2,225	$1,767	$1,516	$1,081	$901	$735	$703	$646	$600	$584	$559	$512
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($17,449)	($16,791)	($15,682)	($15,570)	($20,332)	($18,301)	($18,526)	($15,367)	($17,413)	($14,444)	($14,375)	($14,105)	($13,272)	($12,865)	($12,244)	($12,593)	($12,006)	($11,737)	($11,176)	($10,515)	($9,884)	($9,156)	($7,685)	($5,706)	($4,754)	($3,997)	($3,480)	($2,871)	($2,417)	($2,027)	($1,455)	($1,177)	($1,015)	($746)	($654)	($584)	($506)	($472)	($433)	($435)	($407)	($366)
Total operating expenses	($19,625)	($18,732)	($17,411)	($17,287)	($22,098)	($19,963)	($19,925)	($16,629)	($18,890)	($15,848)	($15,828)	($15,599)	($14,766)	($14,327)	($13,767)	($14,073)	($13,592)	($13,351)	($12,715)	($12,022)	($11,046)	($10,136)	($8,544)	($6,483)	($5,394)	($4,510)	($3,889)	($3,209)	($2,706)	($2,283)	($1,654)	($1,330)	($1,128)	($827)	($724)	($642)	($557)	($518)	($474)	($474)	($437)	($388)
Total costs and expenses	($80,140)	($76,133)	($73,208)	($74,820)	($86,900)	($84,157)	($79,950)	($65,834)	($67,291)	($62,033)	($59,171)	($54,103)	($51,431)	($49,268)	($46,961)	($46,931)	($45,255)	($44,108)	($44,444)	($43,578)	($41,775)	($38,589)	($32,768)	($27,714)	($23,558)	($19,937)	($17,376)	($14,733)	($12,462)	($10,438)	($8,029)	($6,639)	($5,722)	($4,284)	($3,669)	($2,963)	($2,688)	($2,522)	($2,390)	($2,332)	($2,162)	($1,948)
Operating income	$10,292	$10,153	$10,466	$11,557	$10,159	$12,093	$9,647	$6,314	$4,018	$6,586	$5,846	$4,971	$4,792	$4,149	$3,560	$3,277	$3,560	$3,112	$3,786	$4,705	$5,152	$4,654	$3,696	$3,124	$2,554	$1,777	$1,402	$1,172	$868	$670	$571	$436	$388	$254	$177	$93	$145	$128	$127	$110	$122	$124
Earnings
EBITDA	$12,756	$12,347	$12,438	$13,480	$12,140	$13,975	$11,241	$7,724	$5,625	$8,126	$7,436	$6,465	$6,286	$5,711	$5,183	$4,856	$5,244	$4,845	$5,453	$6,169	$6,389	$5,705	$4,622	$3,924	$3,213	$2,307	$1,812	$1,510	$1,157	$926	$771	$590	$501	$335	$247	$151	$197	$174	–	–	–	–
Interest income	$81	$121	$159	$101	$37	$12	$24	$27	$28	$16	$12	$4	$6	$4	$9	$12	$12	$17	$40	$45	$52	$45	$16	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($1,582)	($1,527)	($1,469)	($1,473)	($1,138)	($885)	($848)	($691)	($624)	($633)	($645)	($552)	($516)	($476)	($423)	($371)	($332)	($287)	($280)	($194)	($206)	($203)	($192)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$8,763	$8,747	$9,153	$10,175	$9,036	$11,208	$7,739	$5,623	$3,394	$5,489	$5,201	$4,419	$4,276	$3,673	$3,137	$2,906	$3,228	$2,825	$3,506	$4,511	$4,998	$4,506	$3,536	$2,944	$2,359	$1,603	$1,281	$1,063	$787	$599	$454	$352	$344	$198	$126	$5	$100	$109	$106	$91	$108	$113
Income tax expense	($2,120)	($2,093)	($2,196)	($2,449)	($2,599)	($2,766)	($1,904)	($1,342)	($1,080)	($2,042)	($2,108)	($1,873)	($1,578)	($1,387)	($1,178)	($1,067)	($1,218)	($1,042)	($1,311)	($1,702)	($1,893)	($1,735)	($1,360)	($1,136)	($888)	($601)	($472)	($390)	($276)	($201)	($162)	($126)	($120)	($66)	($41)	$2	($29)	($34)	($36)	($35)	($53)	($53)
Net income	$6,643	$6,654	$6,957	$7,726	$6,437	$8,442	$5,835	$4,281	$2,314	$3,447	$3,093	$2,546	$2,698	$2,286	$1,959	$1,839	$2,010	$1,783	$2,195	$2,809	$3,105	$2,771	$2,176	$1,844	$1,491	$1,023	$810	$673	$500	$383	$292	$226	$224	$132	$85	$6	$71	$75	$69	$56	$55	$60
Per share
Diluted EPS (GAAP)	$11.83	$11.85	$12.23	$13.20	$10.17	$12.04	$7.75	$5.49	$2.84	$4.09	$3.47	$2.73	$2.71	$2.14	$1.69	$1.43	$1.42	$1.21	$1.49	$1.86	$1.99	$1.73	$1.35	$1.13	$0.93	$0.65	$0.52	$0.44	$0.34	$0.26	$0.21	$0.17	$0.17	$0.11	$0.0725	$0.0075	$0.06	$0.065	$0.0575	$0.05	$0.045	$0.0525
Basic EPS (GAAP)	$11.84	$11.87	$12.25	$13.23	$10.20	$12.07	$7.77	$5.49	$2.84	$4.09	$3.48	$2.73	$2.71	$2.14	$1.69	$1.43	$1.42	$1.21	$1.50	$1.89	$2.02	$1.78	$1.39	$1.16	$0.95	$0.67	$0.53	$0.44	$0.34	$0.26	$0.22	$0.18	$0.18	$0.11	$0.0725	$0.0075	$0.06	$0.065	$0.0575	$0.05	$0.045	$0.0525
Basic shares outstanding	559	559	567	582	629	696	748	777	811	839	880	927	988	1,059	1,150	1,271	1,401	1,462	1,457	1,481	1,535	1,555	1,559	1,590	1,569	1,544	1,543	1,525	1,483	1,473	1,341	1,284	1,239	1,172	1,168	867	1,185	1,152	1,203	1,120	1,224	1,137
Margins
Gross margin	33.1%	33.5%	33.3%	33.4%	33.2%	33.3%	33.0%	31.8%	32.1%	32.7%	33.3%	34.8%	34.8%	34.6%	34.3%	34.6%	35.1%	34.9%	34.2%	34.6%	34.5%	34.2%	33.6%	31.2%	30.4%	29.0%	28.2%	27.5%	26.8%	26.6%	25.9%	25.0%	24.8%	23.8%	23.4%	24.1%	24.8%	24.4%	23.9%	23.9%	24.5%	24.7%
Operating margin	11.4%	11.8%	12.5%	13.4%	10.5%	12.6%	10.8%	8.8%	5.6%	9.6%	9.0%	8.4%	8.5%	7.8%	7.0%	6.5%	7.3%	6.6%	7.8%	9.7%	11.0%	10.8%	10.1%	10.1%	9.8%	8.2%	7.5%	7.4%	6.5%	6.0%	6.6%	6.2%	6.4%	5.6%	4.6%	3.0%	5.1%	4.8%	5.0%	4.5%	5.3%	6.0%
Net margin	7.3%	7.7%	8.3%	8.9%	6.6%	8.8%	6.5%	5.9%	3.2%	5.0%	4.8%	4.3%	4.8%	4.3%	3.9%	3.7%	4.1%	3.8%	4.6%	5.8%	6.6%	6.4%	6.0%	6.0%	5.7%	4.7%	4.3%	4.2%	3.8%	3.4%	3.4%	3.2%	3.7%	2.9%	2.2%	0.2%	2.5%	2.8%	2.7%	2.3%	2.4%	2.9%

Analyst consensus

Buy51 analysts

Bearish · 1 · Hold · 19 · Bullish · 31

Earnings history

	EPS	Estimate
Q3 2024	$2.89	$2.81	Beat
Q4 2024	$1.93	$1.84	Beat
Q1 2025	$2.92	$2.88	Beat
Q2 2025	$4.33	$4.24	Beat
Q3 2025	$3.06	$2.97	Beat
Q4 2025	$1.98	$1.94	Beat
Q1 2026	$3.03	$2.97	Beat
Q2 2026	$4.40	$4.22	Beat

Peers

Company overview

IPO dateMar 17, 1980

CEOMarvin R. Ellison

Employees276,000

SectorConsumer Cyclical

IndustryHome Improvement

CountryUS

ExchangeNew York Stock Exchange

Websitewww.lowes.com

Lowe's Companies, Inc., together with its various subsidiary entities, operates as a prominent home improvement retailer serving both the United States and international markets. The company supplies a broad spectrum of items essential for construction, upkeep, renovations, and interior design projects. Its comprehensive product line encompasses major appliances, seasonal and outdoor living essentials, lawn and garden tools, timber, kitchen and bathroom fixtures, power tools, paints, custom millwork, general hardware, flooring options, plumbing components, building materials, decorative accents, lighting solutions, and electrical supplies. In addition to merchandise, Lowe's facilitates installation services through independent contractors across numerous product categories, offers extended protection plans, and provides repair services covering both warranty and post-warranty issues. The company markets its inventory, comprising both well-known national brands and proprietary private-label items, to a diverse clientele including individual homeowners, tenants, and trade professionals. As of January 28, 2022, Lowe's operated 1,971 retail locations dedicated to home improvement and hardware. Products are also accessible via its e-commerce platforms, Lowes.com and Lowesforpros.com, and through its mobile applications. Established in 1921, Lowe's Companies, Inc. maintains its headquarters in Mooresville, North Carolina.

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