LOWNYSERetail-Lumber & Other Building Materials DealersFiscal year ends January 31
LOWES COMPANIES INC
Financials through Q2 FY2026, quarter ended Jul 31, 2026Last filing: 10-Q on Aug 27, 2026
$195.92−1.46 (-0.74%)
Close on Oct 19, 2026
- Market cap
- $109.72B
- P/E (TTM)
- 16.6
- Dividend yield
- 2.42%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
33.5%+0.5 pts over 5 years
Operating margin
11.8%+1.0 pts over 5 years
Net margin
7.7%+1.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.1% | -3.8% | -0.8% | +3.9% | |
| Gross profit | +3.6% | -3.6% | -0.5% | +3.5% | |
| Operating income | -3.0% | -0.0% | +1.0% | +7.4% | |
| Net income | -4.4% | +1.1% | +2.7% | +10.1% | |
| EPS, diluted | -3.1% | +5.2% | +8.9% | +15.8% | |
| Free cash flow | -0.6% | +4.2% | -3.7% | +7.9% | |
| Dividend per share | +4.4% | +6.3% | +15.6% | +16.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 43.9% | 342.3% | -55.1% | |
| Return on assets | 9.4% | 13.5% | 13.7% | |
| Current ratio | 1.00 | 1.19 | 1.08 | |
| Debt to equity | 2.44 | 15.16 | -4.03 | |
| Net debt to EBITDA | 2.04× | 1.52× | 3.15× | |
| Inventory turnover | 4.4× | 4.1× | 3.3× | |
| Capex to revenue | 1.8% | 2.0% | 2.6% | |
| Diluted shares | 881M | 750M | 560M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Lowes Companies generated $46.33B from operations and spent $59.41B on capital expenditure, dividends and share buybacks. 16% of that went back into the business.
Generated
$46.33B
Used
$59.41B
Capital expenditure$9.79B16%Dividends$12.09B20%Share buybacks$37.54B63%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin7.7%
×Asset turnover1.77×
×Equity multiplier-4.03×
=Return on equity, FY2025-55.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 7.7% | 1.77× | -4.03× | -55.1% |
| FY2024 | 8.3% | 1.97× | -2.90× | -47.5% |
| FY2023 | 8.9% | 2.02× | -2.92× | -52.7% |
| FY2022 | 6.6% | 2.20× | -4.63× | -67.5% |
| FY2021 | 8.8% | 2.11× | -27.04× | -499.7% |
| FY2020 | 6.5% | 2.08× | 25.29× | 342.3% |
| FY2019 | 5.9% | 1.95× | 13.17× | 152.5% |
| FY2018 | 3.2% | 2.04× | 7.33× | 48.6% |
| FY2017 | 5.0% | 1.97× | 5.66× | 56.0% |
| FY2016 | 4.8% | 1.98× | 4.66× | 43.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$6.65B
- Cash generatingOperating cash flow above zero$9.86B
- Return on assets improvedROA up on the prior year16.6% → 15.4%
- Earnings backed by cashOperating cash flow above net income$9.86B vs $6.65B
- Less leverageLong-term debt to assets fell76.3% → 69.2%
- Better liquidityCurrent ratio rose1.09 → 1.08
- No dilutionShare count did not rise568M → 560M
- Gross margin improvedGross margin up on the prior year33.32% → 33.48%
- More efficientAsset turnover rose2.00 → 2.00