Lowe's Cos. Inc. (LOW) financial statements: income statement, balance sheet and cash flow

Lowe's Cos. Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Jan 30, 2026 · FY), Lowe's Cos. Inc. reported revenue of $86.3B (+3.1% year on year) and net income of $6.7B (-4.4% year on year).

Income statement

Lowe's Cos. Inc. income statement, fiscal years

Line item	Jan 30, 2026 · FY	Jan 31, 2025 · FY	Feb 2, 2024 · FY	Feb 3, 2023 · FY
Net sales	$86.3B	$83.7B	$86.4B	$97.1B
Cost of sales	$57.4B	$55.8B	$57.5B	$64.8B
Gross margin	$28.9B	$27.9B	$28.8B	$32.3B
Selling, general and administrative	$16.8B	$15.7B	$15.6B	$20.3B
Depreciation and amortization	$1.9B	$1.7B	$1.7B	$1.8B
Operating income	$10.2B	$10.5B	$11.6B	$10.2B
Interest – net	$1.4B	$1.3B	$1.4B	$1.1B
Pre-tax earnings	$8.7B	$9.2B	$10.2B	$9.0B
Income tax provision	$2.1B	$2.2B	$2.4B	$2.6B
Net earnings	$6.7B	$7.0B	$7.7B	$6.4B
Basic earnings per common share (in dollars per share)	$11.87	$12.25	$13.23	$10.20
Diluted earnings per common share (in dollars per share)	$11.85	$12.23	$13.20	$10.17
Net sales	100.0%	100.0%	100.0%	100.0%
Cost of sales	66.5%	66.7%	66.6%	66.8%
Gross margin	33.5%	33.3%	33.4%	33.2%
Selling, general and administrative	19.5%	18.7%	18.0%	20.9%
Depreciation and amortization	2.3%	2.1%	2.0%	1.8%
Operating income	11.8%	12.5%	13.4%	10.5%
Interest – net	1.6%	1.6%	1.6%	1.2%
Pre-tax earnings	10.1%	10.9%	11.8%	9.3%
Income tax provision	2.4%	2.6%	2.8%	2.7%
Net earnings	7.7%	8.3%	8.9%	6.6%

Lowe's Cos. Inc. income statement, quarters

Line item	Jul 31, 2026 · Q2	May 1, 2026 · Q2	Oct 31, 2025 · Q3	Aug 1, 2025 · Q3
Net sales	$26.0B	$23.1B	$20.8B	$24.0B
Cost of sales	$17.4B	$15.5B	$13.7B	$15.9B
Gross margin	$8.6B	$7.5B	$7.1B	$8.1B
Selling, general and administrative	$4.5B	$4.4B	$4.2B	$4.2B
Depreciation and amortization	$572.0M	$566.0M	$475.0M	$457.0M
Operating income	$3.5B	$2.6B	$2.5B	$3.5B
Interest – net	$374.0M	$399.0M	$352.0M	$313.0M
Pre-tax earnings	$3.2B	$2.2B	$2.1B	$3.2B
Income tax provision	$776.0M	$527.0M	$513.0M	$758.0M
Net earnings	$2.4B	$1.6B	$1.6B	$2.4B
Weighted-average common shares outstanding - basic (in shares)	559.0M	559.0M	559.0M	559.0M
Basic earnings per common share (in dollars per share)	$4.28	$2.90	$2.88	$4.28
Weighted-average common shares outstanding - diluted (in shares)	560.0M	560.0M	560.0M	560.0M
Diluted earnings per common share (in dollars per share)	$4.27	$2.90	$2.88	$4.27
Net sales	100.0%	100.0%	100.0%	100.0%
Cost of sales	67.0%	67.3%	65.8%	66.2%
Gross margin	33.0%	32.7%	34.2%	33.8%
Selling, general and administrative	17.2%	19.2%	20.0%	17.4%
Depreciation and amortization	2.2%	2.5%	2.3%	1.9%
Operating income	13.7%	11.1%	11.9%	14.5%
Interest – net	1.4%	1.7%	1.7%	1.3%
Pre-tax earnings	12.2%	9.3%	10.2%	13.2%
Income tax provision	3.0%	2.3%	2.5%	3.2%
Net earnings	9.2%	7.0%	7.8%	10.0%

Balance sheet

Lowe's Cos. Inc. balance sheet, fiscal years

Line item	Jan 30, 2026 · FY	Jan 31, 2025 · FY	Feb 2, 2024 · FY	Feb 3, 2023 · FY
Cash and cash equivalents	$982.0M	$1.8B	$921.0M	$1.3B
Short-term investments	$370.0M	$372.0M	$307.0M	$384.0M
Receivables - net	$1.1B	—	—	—
Merchandise inventory - net	$17.3B	$17.4B	$16.9B	$18.5B
Other current assets	$1.2B	$816.0M	$949.0M	$1.2B
Total current assets	$21.0B	$20.4B	$19.1B	$21.4B
Property, less accumulated depreciation	$18.4B	$17.6B	$17.7B	$17.6B
Operating lease right-of-use assets	$4.3B	$3.7B	$3.7B	$3.5B
Long-term investments	$319.0M	$277.0M	$252.0M	$121.0M
Deferred income taxes - net	$0	$244.0M	$248.0M	$250.0M
Goodwill	$3.9B	—	—	—
Intangible assets - net	$5.9B	—	—	—
Other assets	$352.0M	$836.0M	$838.0M	$810.0M
Total assets	$54.1B	$43.1B	$41.8B	$43.7B
Current maturities of long-term debt	$2.4B	$2.6B	$537.0M	$585.0M
Current operating lease liabilities	$713.0M	$563.0M	$487.0M	$522.0M
Accounts payable	$9.8B	$9.3B	$8.7B	$10.5B
Accrued compensation and employee benefits	$1.3B	$1.0B	$954.0M	$1.1B
Deferred revenue	$1.5B	$1.4B	$1.4B	$1.6B
Other current liabilities	$3.8B	$4.0B	$3.4B	$3.5B
Total current liabilities	$19.5B	$18.8B	$15.6B	$19.5B
Long-term debt, excluding current maturities	$37.5B	$32.9B	$35.4B	$32.9B
Noncurrent operating lease liabilities	$4.0B	$3.6B	$3.7B	$3.5B
Deferred income taxes - net	$1.0B	—	—	—
Deferred revenue - Lowe’s protection plans	$1.3B	$1.3B	$1.2B	$1.2B
Other liabilities	$764.0M	$779.0M	$931.0M	$862.0M
Total liabilities	$64.1B	$57.3B	$56.8B	$58.0B
Preferred stock – $5 par value: Authorized – 5.0 million shares; Issued and outstanding – none	0	0	0	0
Common stock – $0.50 par value: Authorized – 5.6 billion shares; Issued and outstanding – 561 million and 560 million, respectively	281.0M	280.0M	287.0M	301.0M
Capital in excess of par value	$370.0M	—	—	—
Accumulated deficit	($10.8B)	($14.8B)	($15.6B)	($14.9B)
Accumulated other comprehensive income	$271.0M	$288.0M	$300.0M	$307.0M
Total shareholders’ deficit	($9.9B)	($14.2B)	($15.1B)	($14.3B)
Total liabilities and shareholders’ deficit	$54.1B	$43.1B	$41.8B	$43.7B

Lowe's Cos. Inc. balance sheet, quarters

Line item	Jul 31, 2026	May 1, 2026	Oct 31, 2025	Aug 1, 2025
Cash and cash equivalents	$3.2B	$786.0M	$621.0M	$4.9B
Short-term investments	$235.0M	$458.0M	$412.0M	$396.0M
Receivables - net	$1.2B	$1.2B	$1.2B	—
Merchandise inventory - net	$17.7B	$18.4B	$17.2B	$16.3B
Other current assets	$960.0M	$1.3B	$788.0M	$1.0B
Total current assets	$23.3B	$22.2B	$20.2B	$22.6B
Property, less accumulated depreciation	$18.3B	$18.3B	$18.3B	$17.7B
Operating lease right-of-use assets	$4.1B	$4.2B	$4.3B	$3.9B
Long-term investments	$179.0M	$247.0M	$280.0M	$273.0M
Deferred income taxes - net	$0	$0	$0	$140.0M
Intangible assets - net	$5.7B	$5.8B	$6.0B	$976.0M
Goodwill	$4.0B	$3.9B	$4.0B	$691.0M
Other assets	$347.0M	$344.0M	$323.0M	$300.0M
Total assets	$55.9B	$54.9B	$53.5B	$46.6B
Current maturities of long-term debt	$2.4B	$810.0M	$2.4B	$4.2B
Current operating lease liabilities	$733.0M	$662.0M	$691.0M	$536.0M
Accounts payable	$11.1B	$12.0B	$10.2B	$9.5B
Accrued compensation and employee benefits	$1.2B	$972.0M	$1.0B	$1.1B
Deferred revenue	$1.6B	$1.6B	$1.5B	$1.6B
Other current liabilities	$4.2B	$3.8B	$3.5B	$4.7B
Total current liabilities	$21.1B	$20.3B	$19.5B	$21.6B
Long-term debt, excluding current maturities	$35.2B	$36.8B	$37.5B	$30.5B
Noncurrent operating lease liabilities	$3.7B	$3.9B	$4.1B	$3.8B
Deferred income taxes - net	$1.2B	$1.2B	$808.0M	—
Deferred revenue - Lowe's protection plans	$1.3B	$1.2B	$1.3B	$1.3B
Other liabilities	$794.0M	$762.0M	$735.0M	$760.0M
Total liabilities	$63.3B	$64.2B	$63.8B	$58.0B
Preferred stock, $5 par value: Authorized – 5.0 million shares; Issued and outstanding – none	0	0	0	0
Common stock, $0.50 par value: Authorized – 5.6 billion shares; Issued and outstanding – 561 million, 561 million, and 561 million, respectively	281.0M	280.0M	280.0M	280.0M
Capital in excess of par value	$207.0M	$68.0M	$228.0M	$147.0M
Accumulated deficit	($8.2B)	($9.9B)	($11.2B)	($12.1B)
Accumulated other comprehensive income	$262.0M	$266.0M	$275.0M	$281.0M
Total shareholders' deficit	($7.4B)	($9.3B)	($10.4B)	($11.4B)
Total liabilities and shareholders' deficit	$55.9B	$54.9B	$53.5B	$46.6B

Cash flow statement

Lowe's Cos. Inc. cash flow statement, fiscal years

Line item	Jan 30, 2026 · FY	Jan 31, 2025 · FY	Feb 2, 2024 · FY	Feb 3, 2023 · FY
Net earnings	$6.7B	$7.0B	$7.7B	$6.4B
Depreciation and amortization	$2.2B	$2.0B	$1.9B	$2.0B
Noncash lease expense	$572.0M	$520.0M	$499.0M	$530.0M
Deferred income taxes	$256.0M	$9.0M	$6.0M	($239.0M)
Asset impairment and loss on property - net	$53.0M	$5.0M	$83.0M	$2.1B
Gain on sale of business	$0	($177.0M)	($79.0M)	$421.0M
Share-based payment expense	$247.0M	$221.0M	$210.0M	$223.0M
Merchandise inventory – net	$703.0M	($514.0M)	$1.6B	($2.6B)
Other operating assets	($243.0M)	$93.0M	$182.0M	$56.0M
Accounts payable	$73.0M	$633.0M	($1.8B)	($549.0M)
Other operating liabilities	($645.0M)	($94.0M)	($2.1B)	$388.0M
Net cash provided by operating activities	$9.9B	$9.6B	$8.1B	$8.6B
Purchases of investments	($1.7B)	($1.3B)	($1.8B)	($1.2B)
Proceeds from sale/maturity of investments	$1.7B	$1.2B	$1.7B	$1.2B
Capital expenditures	($2.2B)	($1.9B)	($2.0B)	($1.8B)
Proceeds from sale of property and other long-term assets	$82.0M	$105.0M	$53.0M	$45.0M
Acquisition of businesses - net	($10.1B)	—	—	—
Proceeds from sale of business	$0	$177.0M	$100.0M	$491.0M
Other – net	($10.0M)	($11.0M)	($27.0M)	($1.0M)
Net cash used in investing activities	($12.3B)	($1.7B)	($1.9B)	($1.3B)
Net change in commercial paper	$0	$0	($499.0M)	$499.0M
Net proceeds from issuance of debt	$7.0B	$0	$3.0B	$9.7B
Repayment of debt	($2.6B)	($545.0M)	($601.0M)	($867.0M)
Proceeds from issuance of common stock under share-based payment plans	149.0M	159.0M	141.0M	151.0M
Cash dividend payments	($2.6B)	($2.6B)	($2.5B)	($2.4B)
Repurchases of common stock	($211.0M)	($4.1B)	($6.1B)	($14.1B)
Other – net	($68.0M)	($42.0M)	($21.0M)	($5.0M)
Net cash provided by/(used in) financing activities	$1.6B	($7.0B)	($6.7B)	($7.0B)
Net (decrease)/increase in cash and cash equivalents	($779.0M)	$840.0M	($427.0M)	$215.0M
Cash and cash equivalents, beginning of year	$1.8B	$921.0M	$1.3B	$1.1B
Cash and cash equivalents, end of year	$982.0M	$1.8B	$921.0M	$1.3B

Lowe's Cos. Inc. cash flow statement, quarters

Line item	Jul 31, 2026 · YTD	May 1, 2026 · Q2	Oct 31, 2025 · YTD	Aug 1, 2025 · YTD
Net earnings	$4.0B	$1.6B	$5.7B	$4.0B
Depreciation and amortization	$1.3B	$644.0M	$1.6B	$1.0B
Noncash lease expense	$338.0M	$169.0M	$405.0M	$267.0M
Deferred income taxes	$165.0M	$203.0M	$24.0M	$70.0M
Loss on property and other assets - net	$15.0M	$4.0M	$45.0M	$30.0M
Share-based payment expense	$132.0M	$65.0M	$177.0M	$117.0M
Receivables - net	($157.0M)	($63.0M)	—	—
Merchandise inventory – net	($436.0M)	($1.1B)	$816.0M	$1.2B
Other operating assets	$236.0M	($125.0M)	$26.0M	($2.0M)
Accounts payable	$1.3B	$2.2B	$552.0M	$150.0M
Other operating liabilities	$84.0M	($242.0M)	($959.0M)	$745.0M
Net cash provided by operating activities	$7.0B	$3.4B	$8.3B	$7.6B
Purchases of investments	($808.0M)	($337.0M)	($1.3B)	($845.0M)
Proceeds from sale/maturity of investments	$1.1B	$319.0M	$1.3B	$827.0M
Capital expenditures	($1.1B)	($521.0M)	($1.6B)	($1.0B)
Proceeds from sale of property and other long-term assets	$8.0M	$6.0M	$25.0M	$7.0M
Acquisition of business - net	($5.0M)	—	($10.1B)	($1.3B)
Other – net	$28.0M	$32.0M	($9.0M)	($5.0M)
Net cash used in investing activities	($761.0M)	($501.0M)	($11.7B)	($2.3B)
Repayment of debt	($2.4B)	($2.4B)	($2.6B)	($796.0M)
Proceeds from issuance of common stock under share-based payment plans	71.0M	2.0M	82.0M	70.0M
Cash dividend payments	($1.3B)	($674.0M)	($2.0B)	($1.3B)
Repurchases of common stock	($366.0M)	($363.0M)	($211.0M)	($113.0M)
Other – net	($20.0M)	($12.0M)	($64.0M)	($39.0M)
Net cash used in financing activities	($4.1B)	($3.0B)	$2.3B	($2.2B)
Net increase in cash and cash equivalents	$2.2B	($196.0M)	($1.1B)	$3.1B
Cash and cash equivalents, beginning of period	$982.0M	$982.0M	$1.8B	$1.8B
Cash and cash equivalents, end of period	$3.2B	$786.0M	$621.0M	$4.9B

Lowe's Cos. Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.