Lowe's (LOW) financials

NYSE · Consumer Cyclical · Home Improvement · 276,000 employees · CEO Marvin R. Ellison

Price: $209.07 +0.86%
Market cap: $117B
Enterprise value: $156B
Last report: Q2 '26 filed 2026-08-27
Next report: 2026-11-18 EPS est. $2.87

Revenue (TTM)$90.4B+8.2% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)11.4%-1.0 pp vs a year agoOperating income $10.3B

Net income (TTM)$6.64B-3.1% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$7B-8.9% vs a year agoCapex $2.26B

Diluted EPS (TTM)$11.83-2.9% vs a year agoSum of the last 4 quarters

Net cash-$38.6B-14.2% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $117B
Revenue: $90.4B
Revenue growth: +7%
Profit margin: 7.3%
P/E: 17.7×
P/S: 1.3×
EV / EBITDA: 12.2×
Free cash flow: $7B
Net income: $6.64B
Revenue estimate: $92.2B
Earnings: 2026-11-18
Dividend: $4.90

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-08-19): revenue missed by 0.7%, EPS beat by 4.3%Revenue $26B vs $26.1B expected (-0.7%); EPS $4.40 vs $4.22 (+4.3%).
Revenue growth accelerating: 8.3% year on yearQ2 '26 revenue $26B, against an average of 6.5% over the four quarters before.
Operating margin 11.4% (TTM), -1.0 pp on a year agoOperating income grew -0.4% while revenue grew 8.2%.
17.4% of pre-tax profit is eaten by non-operating lossesPre-tax income $8.76B vs operating income $10.3B (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
Capex 2.5% of revenue (a year ago 2.5%)$2.26B invested in the last 4 quarters (+6.1% on a year earlier). Free cash flow $7B = 105.4% of net income.
Returned $3.16B to shareholders = 45.1% of free cash flowBuybacks $464M (a year earlier $2.24B), dividends $2.69B, stock-based pay $262M (TTM).
Diluted share count up 0.0% in a year560M diluted shares in Q2 '26, 560M a year earlier.
Net debt $38.6BCash + short-term investments $3.41B, debt incl. leases $42B; a year ago net debt $33.8B.
Reportable Segment: revenue +0.8%, margin 14.8% (was 14.6%)Fastest-growing reported segment in Q2 '26: operating income $3.55B on revenue $24B (from the segment note of the filing).

Last quarter: Q2 '26

Quarter ended 2026-07-31. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q2 '26	Year ago	Change
Revenue	$26B	$24B	+8.3%
Gross margin	33.0%	33.8%	-0.8 pp
Operating income	$3.55B	$3.47B	+2.3%
Operating margin	13.7%	14.5%	-0.8 pp
Net income	$2.4B	$2.4B	0.0%
Diluted EPS	$4.27	$4.27	0.0%
Operating cash flow	$3.66B	$4.23B	-13.5%
Capex	$542M	$495M	+9.5%
Free cash flow	$3.12B	$3.74B	-16.6%
R&D	$0	$0	–
Stock-based compensation	$67M	$59M	+13.6%

Reported vs consensus

2026-08-19

	Actual	Consensus	vs consensus
Revenue	$26B	$26.1B	-0.7%
EPS (as estimated)	$4.40	$4.22	+4.3%

From the report of 2026-08-19 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q2 '26	y/y	Share	TTM	TTM y/y
Home Decor	$7.82B	-6.5%	32.6%	–	–
Building Products	$7.55B	+6.6%	31.5%	–	–
Hardlines	$7.95B	+1.7%	33.1%	–	–
Other Sales	$692M	-1.0%	2.9%	–	–

Revenue by region

share of total

Segment	Q2 '26	y/y	Share	TTM	TTM y/y	12 quarters
United States	$25.9B	–	99.7%	–	–
Non-US	$73M	–	0.3%	–	–

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q2 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Reportable Segment	$24B	+0.8%	$3.55B	+2.0%	14.8%	14.6%	–
Material Reconciling Items	–	–	$3M	+142.9%	–	–	–

Operating income by segment

quarterly

Segment operating margin

quarterly

Fourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $9.26B
Capex: -$2.26B
Buybacks: -$464M
Dividends: -$2.69B
Acquisitions: -$8.78B
Net debt issued: $3.16B
Stock-based compensation: $262M
Free cash flow: $7B
Returned to shareholders / FCF: 45.1%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	17.7×	20.0×	16.1× – 22.5×
EV / EBITDA	12.2×	14.0×	12.0× – 15.5×
EV / Sales	1.7×	2.0×	1.7× – 2.2×
Price / FCF	16.8×	19.6×	19.2× – 20.1×
Price / Book	-15.7×	–	–
FCF yield	6.0%	5.1%	5.0% – 5.2%
Return on invested capital	20.6%	27.4%	20.4% – 32.3%
Return on equity	-71.8%	-77.6%	-175.3% – -45.2%

Analysts

Consensus target $240.00 (+14.8%)
range $190.00 – $276.00 · rating Buy

Strong buy0

Buy31

Hold19

Sell1

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2027	$92.2B	+6.8%	$12.27	+3.5%	17.0×	20
FY2028	$94.4B	+2.4%	$12.96	+5.6%	16.1×	21
FY2029	$97.6B	+3.3%	$14.12	+9.0%	14.8×	12
FY2030	$102B	+4.6%	$15.86	+12.3%	13.2×	5
FY2031	$104B	+2.0%	$16.67	+5.1%	12.5×	9

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 262 figures Lowe's Companies, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accounts Payable, Current	$11.1B	$9.51B	+16.4%	$9.76B	$9.29B	+5.1%
Accrual for Taxes Other than Income Taxes, Current	$153M2026-01-30	$138M	+10.9%	$153M	$138M	+10.9%
Accrued Income Taxes, Current	$23M2026-01-30	$491M	-95.3%	$23M	$491M	-95.3%
Accumulated Other Comprehensive Income (Loss), Net of Tax	$262M	$281M	-6.8%	$271M	$288M	-5.9%
Additional Paid in Capital, Common Stock	$207M	$147M	+40.8%	$370M	$0	–
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings	$702M	$673M	+4.3%	$2.66B	$2.58B	+3.3%
Adjustments to Additional Paid in Capital, Other	$02026-01-30	–	–	$20M	–	–
Advertising Expense	–	–	–	$978M	$921M	+6.2%
Amortization of Intangible Assets	$98M	$12M	+716.7%	$140M	$13M	+976.9%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	300K	300K	0.0%	200K	100K	+100.0%
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	$270M2026-01-30	$288M	-6.3%	$270M	$288M	-6.3%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$73M	$64M	+14.1%	$247M	$222M	+11.3%
Assets	$55.9B	$46.6B	+19.9%	$54.1B	$43.1B	+25.6%
Assets, Current	$23.3B	$22.6B	+3.1%	$21B	$20.4B	+2.9%
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$02025-10-31	$54M	-100.0%	–	–	–
Business Combination, Contingent Consideration, Liability, Noncurrent	$02025-10-31	$0	–	$21M2023-02-03	$0	–
Cash and Cash Equivalents, at Carrying Value	$3.17B	$4.86B	-34.7%	$982M	$1.76B	-44.2%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$3.17B	$4.86B	-34.7%	$982M	$1.76B	-44.2%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$2.39B	$1.81B	+32.1%	-$779M	$840M	-192.7%
Common Stock, Dividends, Per Share, Declared	$1.25	$1.20	+4.2%	$4.75	$4.55	+4.4%
Common Stock, Par or Stated Value Per Share	$0.50	$0.50	0.0%	$0.50	$0.50	0.0%
Common Stock, Shares Authorized	5.6B	5.6B	0.0%	5.6B	5.6B	0.0%
Common Stock, Shares, Issued	561M	561M	0.0%	561M	560M	+0.2%
Common Stock, Shares, Outstanding	561M	561M	0.0%	561M	560M	+0.2%
Common Stock, Value, Outstanding	$281M	$280M	+0.4%	$281M	$280M	+0.4%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$2.4B	$2.39B	+0.1%	$6.64B	$6.95B	-4.4%
Contract with Customer, Liability, Current	$1.61B	$1.56B	+3.3%	$1.48B	$1.36B	+8.8%
Contract with Customer, Liability, Noncurrent	$1.25B	$1.28B	-2.3%	$1.26B	$1.27B	-0.5%
Contract with Customer, Liability, Revenue Recognized	$147M	$144M	+2.1%	$580M	$561M	+3.4%
Contract with Customer, Refund Liability, Current	$212M	$211M	+0.5%	$178M	$167M	+6.6%
Contract with Customer, Right to Recover Product, Current	$129M	$123M	+4.9%	$109M	$99M	+10.1%
Cost of Goods and Services Sold	$17.4B	$15.9B	+9.6%	$57.4B	$55.8B	+2.9%
Current Federal Tax Expense (Benefit)	–	–	–	$1.44B	$1.76B	-18.2%
Current Income Tax Expense (Benefit)	–	–	–	$1.83B	$2.19B	-16.4%
Current State and Local Tax Expense (Benefit)	–	–	–	$386M	$424M	-9.0%
Deferred Federal Income Tax Expense (Benefit)	–	–	–	$236M	$0	–
Deferred Income Tax Assets, Net	$0	$140M	-100.0%	$0	$244M	-100.0%
Deferred Income Tax Expense (Benefit)	–	–	–	$264M	$8M	+3,200.0%
Deferred Income Tax Liabilities, Net	$1.2B	$0	–	$1.04B	$0	–
Deferred Income Taxes and Tax Credits	-$38M	-$56M	+32.1%	$256M	$9M	+2,744.4%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	$28M	$8M	+250.0%
Deferred Tax Assets, Capital Loss Carryforwards	$691M2026-01-30	$645M	+7.1%	$691M	$645M	+7.1%
Deferred Tax Assets, Gross	$3.09B2026-01-30	$2.72B	+13.6%	$3.09B	$2.72B	+13.6%
Deferred Tax Assets, Net	–	–	–	$244M2025-01-31	$248M	-1.6%
Deferred Tax Assets, Net of Valuation Allowance	$2.02B2026-01-30	$1.72B	+17.6%	$2.02B	$1.72B	+17.6%
Deferred Tax Assets, Operating Loss Carryforwards	$283M2026-01-30	$261M	+8.4%	$283M	$261M	+8.4%
Deferred Tax Assets, Other	$559M2026-01-30	$390M	+43.3%	$559M	$390M	+43.3%
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost	$49M2026-01-30	$46M	+6.5%	$49M	$46M	+6.5%
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Self Insurance	$240M2026-01-30	$233M	+3.0%	$240M	$233M	+3.0%
Deferred Tax Assets, Valuation Allowance	$1.07B2026-01-30	$1B	+6.9%	$1.07B	$1B	+6.9%
Deferred Tax Liabilities, Goodwill and Intangible Assets	$1.09B2026-01-30	$37M	+2,843.2%	$1.09B	$37M	+2,843.2%
Deferred Tax Liabilities, Gross	$3.06B2026-01-30	$1.47B	+107.7%	$3.06B	$1.47B	+107.7%
Deferred Tax Liabilities, Leasing Arrangements	$1.14B2026-01-30	$1.01B	+12.3%	$1.14B	$1.01B	+12.3%
Deferred Tax Liabilities, Net	$1.04B2026-01-30	–	–	$1.04B	–	–
Deferred Tax Liabilities, Other	$99M2026-01-30	$107M	-7.5%	$99M	$107M	-7.5%
Deferred Tax Liabilities, Property, Plant and Equipment	$731M2026-01-30	$315M	+132.1%	$731M	$315M	+132.1%
Defined Contribution Plan, Cost	–	–	–	$201M	$172M	+16.9%
Depreciation, Depletion and Amortization	$648M	$515M	+25.8%	$2.19B	$1.97B	+11.3%
Depreciation, Depletion and Amortization, Nonproduction	$572M	$457M	+25.2%	$1.94B	$1.73B	+12.3%
Depreciation, Nonproduction	–	–	–	$2.1B	$2B	+5.0%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-07-31, 10-Q 2026-05-01, 10-K 2026-01-30, 10-Q 2025-10-31, 10-Q 2025-08-01, 10-K 2025-01-31, 10-Q 2024-11-01, 10-Q 2024-08-02

Not updated in the last refresh (older data or none shown): SEC segments.

Data as of 2026-11-01