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Lowes Companies Financials

LOW
Source SEC Filings (10-K/10-Q) Updated Aug 1, 2025 Currency USD FYE January

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

Profitability Growth Leverage Liquidity Cash Flow Returns 35 / 100
Financial Profile 35/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
50

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 50/100, indicating healthy but not exceptional operating efficiency. This is down from 13.4% the prior year.

Growth
28

Lowes Companies's revenue declined 3.1% year-over-year, from $86.4B to $83.7B. This contraction results in a growth score of 28/100.

Liquidity
15

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 15/100, which could limit financial flexibility.

Cash Flow
48

Lowes Companies has a free cash flow margin of 9.2%, earning a moderate score of 48/100. The company generates positive cash flow after capital investments, but with room for improvement.

Altman Z-Score Safe
3.51

Lowes Companies scores 3.51, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
5/9

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.

Earnings Quality Cash-Backed
1.38x

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

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Earnings & Revenue

Revenue
$83.7B
YoY-3.1%
5Y CAGR+3.0%
10Y CAGR+4.1%

Lowes Companies generated $83.7B in revenue in fiscal year 2025. This represents a decrease of 3.1% from the prior year.

EBITDA
$12.4B
YoY-7.7%
5Y CAGR+10.0%
10Y CAGR+6.9%

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.

Net Income
$7.0B
YoY-10.0%
5Y CAGR+10.2%
10Y CAGR+9.9%

Lowes Companies reported $7.0B in net income in fiscal year 2025. This represents a decrease of 10.0% from the prior year.

EPS (Diluted)
$12.23
YoY-7.3%
5Y CAGR+17.4%
10Y CAGR+16.3%

Lowes Companies earned $12.23 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 7.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$7.7B
YoY+24.6%
5Y CAGR+22.3%
10Y CAGR+6.6%

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.

Cash & Debt
$3.1B
YoY-5.7%
5Y CAGR-12.5%
10Y CAGR+7.9%

Lowes Companies held $3.1B in cash against $30.5B in long-term debt as of fiscal year 2025.

Dividends Per Share
$4.55
YoY+4.6%
5Y CAGR+16.4%
10Y CAGR+18.0%

Lowes Companies paid $4.55 per share in dividends in fiscal year 2025. This represents an increase of 4.6% from the prior year.

Shares Outstanding
560M
YoY-2.2%
5Y CAGR-5.8%
10Y CAGR-5.2%

Lowes Companies had 560M shares outstanding in fiscal year 2025. This represents a decrease of 2.2% from the prior year.

Margins & Returns

Gross Margin
33.3%
YoY-0.1pp
5Y CAGR+1.5pp
10Y CAGR-1.5pp

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.

Operating Margin
12.5%
YoY-0.9pp
5Y CAGR+3.8pp
10Y CAGR+4.0pp

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.

Net Margin
8.3%
YoY-0.6pp
5Y CAGR+2.4pp
10Y CAGR+3.5pp

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.

Return on Equity
N/A

Capital Allocation

R&D Spending
N/A
Share Buybacks
$4.1B
YoY-34.0%
5Y CAGR-1.2%
10Y CAGR+0.4%

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.

Capital Expenditures
$1.9B
YoY-1.9%
5Y CAGR+5.4%
10Y CAGR+8.2%

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 Q3'26 Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Revenue $24.0B+14.5% $20.9B+3.8% $20.2B-14.5% $23.6B+10.4% $21.4B+9.1% $19.6B-4.3% $20.5B-18.0% $25.0B
Cost of Revenue $15.9B+13.7% $13.9B+4.3% $13.4B-14.8% $15.7B+9.9% $14.3B+8.8% $13.1B-3.4% $13.6B-18.0% $16.6B
Gross Profit $8.1B+16.0% $7.0B+2.8% $6.8B-13.9% $7.9B+11.4% $7.1B+9.7% $6.5B-6.2% $6.9B-18.0% $8.4B
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $4.2B+3.2% $4.0B+5.7% $3.8B-4.9% $4.0B+0.4% $4.0B+7.9% $3.7B-1.2% $3.8B-8.0% $4.1B
Operating Income $3.5B+39.1% $2.5B-1.7% $2.5B-26.4% $3.4B+29.9% $2.7B+14.3% $2.3B-13.9% $2.7B-30.6% $3.9B
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $758.0M+46.9% $516.0M-1.5% $524.0M-29.9% $747.0M+36.8% $546.0M+20.5% $453.0M-21.6% $578.0M-33.7% $872.0M
Net Income $2.4B+46.1% $1.6B-3.2% $1.7B-28.9% $2.4B+35.8% $1.8B+15.1% $1.5B-14.0% $1.8B-33.7% $2.7B
EPS (Diluted) $4.27+46.2% $2.92-2.3% $2.99-28.3% $4.17+36.3% $3.06 N/A $3.06-32.9% $4.56

LOW Balance Sheet

Metric Q3'26 Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Total Assets $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-4.5% $44.5B
Current Assets $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-10.2% $22.2B
Cash & Equivalents $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-65.4% $3.5B
Inventory $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+0.6% $17.4B
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill $691.0M N/A $311.0M0.0% $311.0M N/A N/A N/A N/A
Total Liabilities $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-2.7% $59.3B
Current Liabilities $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-6.3% $17.6B
Long-Term Debt $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-1.3% $35.8B
Total Equity -$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-2.8% -$14.7B
Retained Earnings -$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-2.6% -$15.3B

LOW Cash Flow Statement

Metric Q3'26 Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Operating Cash Flow $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-72.4% $3.9B
Capital Expenditures $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+50.4% $385.0M
Free Cash Flow $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-86.1% $3.5B
Investing Cash Flow -$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-43.8% -$411.0M
Financing Cash Flow -$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+5.2% -$2.9B
Dividends Paid $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+2.9% $624.0M
Share Buybacks $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-29.7% $2.3B

LOW Financial Ratios

Metric Q3'26 Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Gross Margin 33.8%+0.4pp 33.4%-0.3pp 33.7%+0.2pp 33.5%+0.3pp 33.2%+0.2pp 33.0%-0.7pp 33.7%0.0pp 33.7%
Operating Margin 14.5%+2.6pp 11.9%-0.7pp 12.6%-2.0pp 14.6%+2.2pp 12.4%+0.6pp 11.9%-1.3pp 13.2%-2.4pp 15.6%
Net Margin 10.0%+2.2pp 7.8%-0.6pp 8.4%-1.7pp 10.1%+1.9pp 8.2%+0.4pp 7.8%-0.9pp 8.7%-2.1pp 10.7%
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets 5.1%+1.5pp 3.6%-0.2pp 3.8%-1.5pp 5.3%+1.4pp 3.9%+0.2pp 3.6%-0.5pp 4.2%-1.8pp 6.0%
Current Ratio 1.05+0.0 1.01-0.1 1.13-0.1 1.22+0.1 1.17-0.1 1.23+0.0 1.21-0.1 1.26
Debt-to-Equity -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+0.1 -2.43
FCF Margin 15.6%+1.9pp 13.7%+10.1pp 3.6%-7.9pp 11.6%-6.6pp 18.2%+15.7pp 2.5%+0.1pp 2.4%-11.6pp 13.9%

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

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.

Lowes Companies (LOW) revenue declined by 3.1% year-over-year, from $86.4B to $83.7B in fiscal year 2025.

Yes, Lowes Companies (LOW) reported a net income of $7.0B in fiscal year 2025, with a net profit margin of 8.3%.

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.

Lowes Companies (LOW) had EBITDA of $12.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Lowes Companies (LOW) had $3.1B in cash and equivalents against $30.5B in long-term debt.

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.

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.

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.

Yes, Lowes Companies (LOW) paid $4.55 per share in dividends during fiscal year 2025.

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.

Lowes Companies (LOW) generated $9.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Lowes Companies (LOW) had $45.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Lowes Companies (LOW) invested $1.9B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Lowes Companies (LOW) spent $4.1B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Lowes Companies (LOW) had 560M shares outstanding as of fiscal year 2025.

Lowes Companies (LOW) had a current ratio of 1.01 as of fiscal year 2025, which is considered adequate.

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.

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.

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.

Lowes Companies (LOW) has an Altman Z-Score of 3.51, 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.

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.

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.

Lowes Companies (LOW) scores 35 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.

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