Lowes Companies Financials
This page shows Lowes Companies (LOW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Lowes Companies has an operating margin of 12.5%, meaning the company retains $13 of operating profit per $100 of revenue. This results in a moderate score of 63/100, indicating healthy but not exceptional operating efficiency. This is down from 13.4% the prior year.
Lowes Companies's revenue declined 3.1% year-over-year, from $86.4B to $83.7B. This contraction results in a growth score of 20/100.
Lowes Companies's current ratio of 1.01 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 21/100, which could limit financial flexibility.
Lowes Companies has a free cash flow margin of 9.2%, earning a moderate score of 46/100. The company generates positive cash flow after capital investments, but with room for improvement.
Lowes Companies scores 3.84, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Lowes Companies passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Lowes Companies generates $1.38 in operating cash flow ($9.6B OCF vs $7.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Lowes Companies generated $83.7B in revenue in fiscal year 2025. This represents a decrease of 3.1% from the prior year.
Lowes Companies's EBITDA was $12.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 7.7% from the prior year.
Lowes Companies generated $7.7B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 24.6% from the prior year.
Lowes Companies reported $7.0B in net income in fiscal year 2025. This represents a decrease of 10.0% from the prior year.
Lowes Companies earned $12.23 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 7.3% from the prior year.
Lowes Companies held $3.1B in cash against $30.5B in long-term debt as of fiscal year 2025.
Lowes Companies paid $4.55 per share in dividends in fiscal year 2025. This represents an increase of 4.6% from the prior year.
Lowes Companies had 560M shares outstanding in fiscal year 2025. This represents a decrease of 2.2% from the prior year.
Lowes Companies's gross margin was 33.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.
Lowes Companies's operating margin was 12.5% in fiscal year 2025, reflecting core business profitability. This is down 0.9 percentage points from the prior year.
Lowes Companies's net profit margin was 8.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.
Lowes Companies spent $4.1B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 34.0% from the prior year.
Lowes Companies invested $1.9B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 1.9% from the prior year.
LOW Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.8B-13.1% | $24.0B+14.5% | $20.9B+3.8% | $20.2B-14.5% | $23.6B+10.4% | $21.4B+14.8% | $18.6B-9.1% | $20.5B |
| Cost of Revenue | $13.7B-13.6% | $15.9B+13.7% | $13.9B+4.3% | $13.4B-14.8% | $15.7B+9.9% | $14.3B+13.5% | $12.6B-7.4% | $13.6B |
| Gross Profit | $7.1B-12.2% | $8.1B+16.0% | $7.0B+2.8% | $6.8B-13.9% | $7.9B+11.4% | $7.1B+17.6% | $6.0B-12.5% | $6.9B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $4.2B-0.4% | $4.2B+3.2% | $4.0B+5.7% | $3.8B-4.9% | $4.0B+0.4% | $4.0B+2.8% | $3.9B+3.7% | $3.8B |
| Operating Income | $2.5B-28.5% | $3.5B+39.1% | $2.5B-1.7% | $2.5B-26.4% | $3.4B+29.9% | $2.7B+57.3% | $1.7B-37.4% | $2.7B |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $513.0M-32.3% | $758.0M+46.9% | $516.0M-1.5% | $524.0M-29.9% | $747.0M+36.8% | $546.0M+70.6% | $320.0M-44.6% | $578.0M |
| Net Income | $1.6B-32.6% | $2.4B+46.1% | $1.6B-3.2% | $1.7B-28.9% | $2.4B+35.8% | $1.8B+72.1% | $1.0B-42.5% | $1.8B |
| EPS (Diluted) | $2.88-32.6% | $4.27+46.2% | $2.92-2.3% | $2.99-28.3% | $4.17+36.3% | $3.06+69.1% | $1.81-40.8% | $3.06 |
LOW Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $53.5B+14.7% | $46.6B+2.7% | $45.4B+1.4% | $44.7B-0.4% | $44.9B-1.0% | $45.4B+8.5% | $41.8B-1.7% | $42.5B |
| Current Assets | $20.2B-10.7% | $22.6B-0.2% | $22.7B+3.2% | $22.0B-1.6% | $22.3B-1.8% | $22.8B+19.3% | $19.1B-4.5% | $20.0B |
| Cash & Equivalents | $621.0M-87.2% | $4.9B+59.1% | $3.1B-6.6% | $3.3B-25.0% | $4.4B+34.7% | $3.2B+251.5% | $921.0M-23.9% | $1.2B |
| Inventory | $17.2B+5.1% | $16.3B-10.9% | $18.3B+4.4% | $17.6B+4.3% | $16.8B-7.6% | $18.2B+7.9% | $16.9B-3.6% | $17.5B |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $4.0B+476.3% | $691.0M | N/A | $311.0M0.0% | $311.0M | N/A | N/A | N/A |
| Total Liabilities | $63.8B+10.0% | $58.0B-1.0% | $58.6B+0.8% | $58.2B-0.9% | $58.7B-2.1% | $60.0B+5.5% | $56.8B-1.4% | $57.7B |
| Current Liabilities | $19.5B-10.0% | $21.6B-3.4% | $22.4B+15.1% | $19.4B+6.6% | $18.2B-6.5% | $19.5B+25.3% | $15.6B-5.6% | $16.5B |
| Long-Term Debt | $37.5B+22.8% | $30.5B0.0% | $30.5B-7.2% | $32.9B-5.1% | $34.7B+0.1% | $34.6B-3.2% | $35.8B+1.1% | $35.4B |
| Total Equity | -$10.4B+8.9% | -$11.4B+14.0% | -$13.3B+1.2% | -$13.4B+2.5% | -$13.8B+5.8% | -$14.6B+3.0% | -$15.1B+0.6% | -$15.1B |
| Retained Earnings | -$11.2B+7.8% | -$12.1B+12.5% | -$13.8B+1.1% | -$14.0B+2.4% | -$14.3B+5.6% | -$15.2B+2.9% | -$15.6B+0.7% | -$15.7B |
LOW Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $687.0M-83.8% | $4.2B+25.2% | $3.4B+160.1% | $1.3B-58.8% | $3.2B-26.0% | $4.3B+284.7% | $1.1B+4.1% | $1.1B |
| Capital Expenditures | $597.0M+20.6% | $495.0M-4.4% | $518.0M-9.3% | $571.0M+34.0% | $426.0M+11.5% | $382.0M-38.4% | $620.0M+7.1% | $579.0M |
| Free Cash Flow | $90.0M-97.6% | $3.7B+30.6% | $2.9B+293.0% | $728.0M-73.3% | $2.7B-29.7% | $3.9B+695.1% | $488.0M+0.6% | $485.0M |
| Investing Cash Flow | -$9.3B-416.2% | -$1.8B-239.6% | -$533.0M-2.5% | -$520.0M-23.2% | -$422.0M-11.6% | -$378.0M+36.5% | -$595.0M-0.7% | -$591.0M |
| Financing Cash Flow | $4.4B+818.4% | -$615.0M+60.4% | -$1.6B+16.9% | -$1.9B-16.2% | -$1.6B-2.6% | -$1.6B-95.5% | -$802.0M+70.9% | -$2.8B |
| Dividends Paid | $673.0M+4.3% | $645.0M0.0% | $645.0M-1.4% | $654.0M+4.0% | $629.0M-0.6% | $633.0M+0.2% | $632.0M-1.6% | $642.0M |
| Share Buybacks | $98.0M+9700.0% | $1.0M-99.1% | $112.0M-85.1% | $751.0M-25.4% | $1.0B+9.1% | $923.0M+359.2% | $201.0M-87.3% | $1.6B |
LOW Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.2%+0.4pp | 33.8%+0.4pp | 33.4%-0.3pp | 33.7%+0.2pp | 33.5%+0.3pp | 33.2%+0.8pp | 32.4%-1.3pp | 33.7% |
| Operating Margin | 11.9%-2.6pp | 14.5%+2.6pp | 11.9%-0.7pp | 12.6%-2.0pp | 14.6%+2.2pp | 12.4%+3.4pp | 9.1%-4.1pp | 13.2% |
| Net Margin | 7.8%-2.2pp | 10.0%+2.2pp | 7.8%-0.6pp | 8.4%-1.7pp | 10.1%+1.9pp | 8.2%+2.7pp | 5.5%-3.2pp | 8.7% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 3.0%-2.1pp | 5.1%+1.5pp | 3.6%-0.2pp | 3.8%-1.5pp | 5.3%+1.4pp | 3.9%+1.4pp | 2.4%-1.7pp | 4.2% |
| Current Ratio | 1.040.0 | 1.05+0.0 | 1.01-0.1 | 1.13-0.1 | 1.22+0.1 | 1.17-0.1 | 1.23+0.0 | 1.21 |
| Debt-to-Equity | -3.61-0.9 | -2.68-0.4 | -2.30+0.1 | -2.45+0.1 | -2.52-0.1 | -2.370.0 | -2.38-0.0 | -2.34 |
| FCF Margin | 0.4%-15.2pp | 15.6%+1.9pp | 13.7%+10.1pp | 3.6%-7.9pp | 11.6%-6.6pp | 18.2%+15.5pp | 2.6%+0.3pp | 2.4% |
Note: Shareholder equity is negative (-$13.3B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Lowes Companies's annual revenue?
Lowes Companies (LOW) reported $83.7B in total revenue for fiscal year 2025. This represents a -3.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Lowes Companies's revenue growing?
Lowes Companies (LOW) revenue declined by 3.1% year-over-year, from $86.4B to $83.7B in fiscal year 2025.
Is Lowes Companies profitable?
Yes, Lowes Companies (LOW) reported a net income of $7.0B in fiscal year 2025, with a net profit margin of 8.3%.
What is Lowes Companies's earnings per share (EPS)?
Lowes Companies (LOW) reported diluted earnings per share of $12.23 for fiscal year 2025. This represents a -7.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Lowes Companies's EBITDA?
Lowes Companies (LOW) had EBITDA of $12.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Lowes Companies have?
As of fiscal year 2025, Lowes Companies (LOW) had $3.1B in cash and equivalents against $30.5B in long-term debt.
What is Lowes Companies's gross margin?
Lowes Companies (LOW) had a gross margin of 33.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Lowes Companies's operating margin?
Lowes Companies (LOW) had an operating margin of 12.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Lowes Companies's net profit margin?
Lowes Companies (LOW) had a net profit margin of 8.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Lowes Companies pay dividends?
Yes, Lowes Companies (LOW) paid $4.55 per share in dividends during fiscal year 2025.
What is Lowes Companies's free cash flow?
Lowes Companies (LOW) generated $7.7B in free cash flow during fiscal year 2025. This represents a 24.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Lowes Companies's operating cash flow?
Lowes Companies (LOW) generated $9.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Lowes Companies's total assets?
Lowes Companies (LOW) had $45.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Lowes Companies's capital expenditures?
Lowes Companies (LOW) invested $1.9B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Lowes Companies buy back shares?
Yes, Lowes Companies (LOW) spent $4.1B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Lowes Companies have outstanding?
Lowes Companies (LOW) had 560M shares outstanding as of fiscal year 2025.
What is Lowes Companies's current ratio?
Lowes Companies (LOW) had a current ratio of 1.01 as of fiscal year 2025, which is considered adequate.
What is Lowes Companies's debt-to-equity ratio?
Lowes Companies (LOW) had a debt-to-equity ratio of -2.30 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Lowes Companies's return on assets (ROA)?
Lowes Companies (LOW) had a return on assets of 15.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Lowes Companies's debt-to-equity ratio negative or unusual?
Lowes Companies (LOW) has negative shareholder equity of -$13.3B as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Lowes Companies's Altman Z-Score?
Lowes Companies (LOW) has an Altman Z-Score of 3.84, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Lowes Companies's Piotroski F-Score?
Lowes Companies (LOW) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Lowes Companies's earnings high quality?
Lowes Companies (LOW) has an earnings quality ratio of 1.38x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Lowes Companies?
Lowes Companies (LOW) scores 37 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.