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Lowe's (LOW) stock

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NYSE: LOW NYSE Home Improvement Retail Next results ~November 18, 2026

B Fundamentals grade

Lowe's is a US-listed company in the home improvement retail industry. Its financial year ends in January.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$180

Cash-flow model

Base case. Range ~$120–$260 across our lower- and higher-growth cases (-1.4%–8.6% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 20% above our base value.

Price used: $218.15, November 2, 2026

Lowe's valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Lowe's files

Where Lowe's stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $90.4bn, up 8.2% on a year earlier, faster than 6.2% a quarter earlier. Free-cash-flow margin fell to 7.7% from 9.2% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 2 financial-health checks. Our cash-flow model value is $180 a share, against a share price of $199. At that price, our model says the market is pricing in about 4.9% a year of cash-flow growth for five years, faster than the -1.2% a year revenue growth it has delivered.

Source: 10-Q filed August 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 18, 2026 (estimated)

Lowe's's trailing-twelve-month revenue grew 8.2% year on year, with a free-cash-flow margin of 7.7%. Where it stands out: stock pay as % of revenue of 0.3% ranks 55 of 403 consumer discretionary companies we cover. Where it lags: long-term debt as % of assets of 63.0% ranks 284 of 317 consumer discretionary companies we cover.

Our discounted-cash-flow model values the business at ~$180 per share in the base case (~$120–$260 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 8.2% (+1.9pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 63.0% ranks 284 of 317 consumer discretionary companies we cover (median 18.2%).

Latest results: FY2027 Q2

Filed August 27, 2026
Earnings per share
$4.40 against an average estimate of $4.22: beat by 4.2%
Revenue
$25.96bn, up 8.3% on a year earlier
Share reaction
+0.8% in the first session after the results on August 19, 2026, against -0.6% for the S&P 500
Guidance given
total sales $92bn (fiscal year 2026); operating income as a percentage of sales (operating margin) 11.2% (fiscal year 2026)
Next report
November 18, 2026; average EPS estimate $2.87

Lowe's' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.3%
  • 1 week+10.1%
  • 1 month+21.4%
  • This year-7.6%
  • 1 year-6.4%
  • 5 years+2.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$90.4B
Operating margin
11.4%
Net margin
7.3%
EPS (TTM, diluted)
$11.86

Growth

Revenue growth
+8.2%
Change in growth rate
+1.9 pts
Share count change
−0.4%

Cash

Free cash flow (TTM)
$7B
FCF margin
7.7%
Stock pay % of revenue
0.3%

Earnings

Last results
August 19, 2026
Next results (est.)
November 18, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results
  3. Guidance

    Guidance issued: total sales of $92.00bn for the fiscal year 2026

    The company also guided to operating income as a percentage of sales (operating margin) of 11.20 for the fiscal year 2026; adjusted operating income as a percentage of sales (adjusted operating margin) of 11.60 for the fiscal year 2026.

    Company results release

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Lowe's valuation models and calculator

What the price is pricing in

The share price implies about 5.6% a year of cash-flow growth for five years.That is faster than the -1.2% a year revenue growth Lowe's has delivered.

  • Priced in5.6%
  • Last 12 months8.2%
  • 3 years a year-1.0%
  • 5 years a year-1.2%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($213.43, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$180
Price used
$213.43close November 3, 2026
Implied change
▼ 15%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Lowe's's free cash flow after stock-based pay with after-tax interest added back ($7.6B, FY2027 Q2 TTM), growing 3.2% and 3.1% in the next two years (forecasts, guidance and its record), then back to 3.6% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$120–~$260 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Lowe's's free cash flow after stock-based pay ( $7.6B, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Lowe's as an operating company, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.81 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$180 ~$120–$260 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$160 ~$110–$280 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$180 ~$160–$180 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Lowe's with Consumer Discretionary sector in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −31%
  • Revenue growth 5 points higher ▲ +41%
  • Free-cash-flow margin 1 point lower ▼ −16%
  • Last year's free-cash-flow margin change, if it persists ▼ −19%
  • Discount rate 1 point higher ▼ −19%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $134$203$295$417$575$780
8.5% $88$138$205$292$405$550
10% $60$99$151$217$303$413

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$58.56$60.96$86.02$83.93$102.39$149.43$213.43$200.17$207.66$250.54$262.49$218.15
Market value$54.4bn$53.7bn$72.3bn$68.2bn$79.7bn$112.1bn$149.2bn$126.3bn$121.3bn$142.3bn$147.0bn$122.2bn
+ Net debt (− = net cash)−$405m−$558m−$588m−$511m−$716m−$4.7bn−$1.1bn−$1.3bn−$921m−$1.8bn−$982m$34.4bn
Enterprise value$54.0bn$53.1bn$71.7bn$67.6bn$78.9bn$107.4bn$148.1bn$125.0bn$120.4bn$140.5bn$146.0bn$156.5bn
Multiples
Price / sales 0.9x0.8x1.1x1.0x1.1x1.3x1.5x1.3x1.4x1.7x1.7x1.4x
Price / earnings 21.4x17.4x21.0x29.5x18.6x19.2x17.7x19.6x15.7x20.5x22.1x18.4x
Price / free cash flow 15.2x12.1x18.3x13.6x28.3x12.1x18.1x18.7x19.6x18.5x19.2x17.5x
EV / EBITDA 8.2x7.1x8.8x12.0x10.2x9.6x10.6x10.3x8.9x11.3x11.8x12.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

71 /100

Strong moat

How hard Lowe's's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 12.7% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 33.1%, moving by 0.6 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median 11.0%; its worst year was 5.8%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 10 of 10 years, at a median 7.5% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 23.2% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (76 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 18, 2026. Analysts expect revenue of $22.3bn and EPS of $2.87 (range $2.80 to $3.01) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $12.30 +0% $92.1bn +7%
Next $12.99 +6% $94.4bn +2%

Next year's EPS estimate has moved −3.6% in 90 days, across 32 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −1.6% on 90 days ago. In the last 30 days, 0 analysts raised Lowe's's forecast and 3 cut it.

Consensus EPS forecast Lowe's, last 90 days
$12.00 $12.50 $13.00 $13.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $12.50 Current fiscal year, 60 days ago: $12.33 Current fiscal year, 30 days ago: $12.32 Current fiscal year, 7 days ago: $12.31 Current fiscal year, Now: $12.30 $12.30 Next fiscal year, 90 days ago: $13.48 Next fiscal year, 60 days ago: $13.08 Next fiscal year, 30 days ago: $13.03 Next fiscal year, 7 days ago: $13.00 Next fiscal year, Now: $12.99 $12.99

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $12.50$13.48
60 days ago $12.33$13.08
30 days ago $12.32$13.03
7 days ago $12.31$13.00
Now $12.30$12.99

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $4.22 $4.40 +4.2%
Apr 2026 $2.97 $3.03 +2.1%
Jan 2026 $1.94 $1.98 +1.9%
Oct 2025 $2.95 $3.06 +3.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 19, 2026
  • Total sales fiscal year 2026 about $92bn
    “Total sales of $92.0 billion (previously $92.0 to 94.0 billion)” source
  • Diluted earnings per share fiscal year 2026 about $11.75
    “Diluted earnings per share of approximately $11.75 (previously $11.75 to $12.25)” source
  • Adjusted diluted earnings per share fiscal year 2026 about $12.25 Non-GAAP
    “Adjusted 1 diluted earnings per share of approximately $12.25 (previously $12.25 to $12.75)” source
  • Operating income as a percentage of sales (operating margin) fiscal year 2026 about 11.2%
    “Operating income as a percentage of sales (operating margin) of 11.2% (previously 11.2% to 11.4%)” source
  • Adjusted operating income as a percentage of sales (adjusted operating margin) fiscal year 2026 about 11.6% Non-GAAP
    “Adjusted 1 operating income as a percentage of sales (adjusted operating margin) of 11.6% (previously 11.6% to 11.8%)” source
  • Net interest expense fiscal year 2026 about $1.6bn
    “Net interest expense of approximately $1.6 billion” source
Show 2 more items
  • Effective income tax rate fiscal year 2026 about 24.5%
    “Effective income tax rate of approximately 24.5%” source
  • Capital expenditures fiscal year 2026 about $2.5bn
    “Capital expenditures of up to $2.5 billion” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Lowe's's revenue by +3.2% next year and +3.1% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+3.2%, weight 57%) , management guidance (+3.0%, weight 18%) and the company's own record (+3.6%, weight 24%) . How the weights are set.

Analyst recommendations

35 analysts, Oct 2026
Buy2571%
Hold926%
Sell13%

Monthly trend

  1. Oct 2026520935
  2. Sep 20265181135
  3. Aug 20265191035
  4. Jul 20265191035

Counts of recommendations published by analysts covering Lowe's, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.2%
of tradable shares
Days to cover
3.21
at average volume
Short interest, 1 month
+16%
to October 15, 2026
Held by institutions
81%
of shares
Held by insiders
0.1%
of shares
Employees
300,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −6.4%

$233.01 on October 31, 2025 to $218.15

ThenNowEffect
Revenue (last 12 months) $83.6bn $90.4bn +8.2%
Net margin 8.2% 7.3% −10.4%
P/E multiple 19.1x 18.4x −3.8%
Share count 563m 560m +0.4%

Biggest factor: net margin.

Last 3 years +18.9%

$183.51 on November 3, 2023 to $218.15

ThenNowEffect
Revenue (last 12 months) $93.2bn $90.4bn −3.0%
Net margin 6.5% 7.3% +13.3%
P/E multiple 18.3x 18.4x +0.8%
Share count 601m 560m +7.4%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
LOW+63%−22%+14%+13%−0%−8%
Industry peers (median)——————
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
LOW58%33%50%50%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
LOW−14%−34%−21%−18%−21%−37%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 49% from February 20, 2020 to March 18, 2020. Getting back needed a 95% gain, reached on May 27, 2020, 70 days after the low.

Price behaviour

52-week range
$178.37 – $282.47
From 52-week high
−22.8%
vs 50-day average
+11.7%
vs 200-day average
−2.2%
Volatility (1 year)
29%
Beta vs S&P 500
0.57

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±2.4%
After a week
6 up, 6 down
typical move ±3.3%
After a month
5 up, 7 down
typical move ±7.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 19, 2026 +0.8% −0.6% −2.4% −10.7%
May 20, 2026 −0.4% +1.2% −0.2% −1.8%
February 25, 2026 −5.1% +0.3% −7.2% −15.3%
November 19, 2025 +4.0% −1.1% +10.0% +9.5%
August 20, 2025 −0.3% −0.7% +0.9% +3.4%
May 21, 2025 −3.2% −1.6% −2.7% −5.5%
February 26, 2025 +1.3% −1.5% +0.2% −4.2%
November 19, 2024 −3.2% +0.4% +1.0% −10.0%
August 20, 2024 −0.3% +0.2% +2.2% +7.3%
May 21, 2024 −3.5% 0.0% −6.5% −0.3%
February 27, 2024 +3.2% +0.1% +4.1% +9.5%
November 21, 2023 −2.9% +0.2% −2.2% +9.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Lowe's’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.45× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

LOW Lowe's Grade B $217.48

Own 100 shares, sell the $230 call expiring November 27, 2026 (25 days) for $4.20 a share — $420 per contract.

Previous session · Bid $4.20, ask $5.40, quoted Mon 2 Nov, 17:28 New York time with LOW at $217.48. Option prices move with the shares: check the live chain at your broker before trading.

  • If LOW ends below $230: you keep your shares and the $420 — 1.9% extra on the position, 28.2% a year at that pace.
  • If it ends above $230: your shares are sold at $230, a total return of 7.7% including the premium — at or above our value of ~$180.
$1.7k $0 −$4.3k Our value $180 Break-even $213.28 Price $217.48
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$420
Annualised
28.2%
Break-even
$213.28
Max gain
$1,672
Chance of selling
~34%

Results are expected around November 18, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Own the shares, buy the $200 put and sell the $230 call, both expiring November 27, 2026 (25 days).

  • Net credit of $1.45 a share ($145 per contract of 100 shares).
  • Worst case at expiry: -7.4%, if the shares fall below $200 (-8.0% from today).
  • Best case at expiry: +6.4%, if the shares rise above $230 (+5.8%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $180: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Lowe's in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Lowe's
$82B $84B $86B $88B $90B $92B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $90.2B Revenue (TTM), FY24 Q4: $86.4B Revenue (TTM), FY25 Q1: $85.4B Revenue (TTM), FY25 Q2: $84B Revenue (TTM), FY25 Q3: $83.7B Revenue (TTM), FY25 Q4: $83.7B Revenue (TTM), FY26 Q1: $83.2B Revenue (TTM), FY26 Q2: $83.6B Revenue (TTM), FY26 Q3: $84.3B Revenue (TTM), FY26 Q4: $86.3B Revenue (TTM), FY27 Q1: $88.4B Revenue (TTM), FY27 Q2: $90.4B $90.4B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $90.2B
FY24 Q4 $86.4B
FY25 Q1 $85.4B
FY25 Q2 $84B
FY25 Q3 $83.7B
FY25 Q4 $83.7B
FY26 Q1 $83.2B
FY26 Q2 $83.6B
FY26 Q3 $84.3B
FY26 Q4 $86.3B
FY27 Q1 $88.4B
FY27 Q2 $90.4B
Revenue growth, TTM YoY Lowe's
-15% -10% -5% 0% 5% 10% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: -6.0% Revenue growth, TTM YoY, FY24 Q4: -11.0% Revenue growth, TTM YoY, FY25 Q1: -10.8% Revenue growth, TTM YoY, FY25 Q2: -9.9% Revenue growth, TTM YoY, FY25 Q3: -7.2% Revenue growth, TTM YoY, FY25 Q4: -3.1% Revenue growth, TTM YoY, FY26 Q1: -2.5% Revenue growth, TTM YoY, FY26 Q2: -0.5% Revenue growth, TTM YoY, FY26 Q3: 0.6% Revenue growth, TTM YoY, FY26 Q4: 3.1% Revenue growth, TTM YoY, FY27 Q1: 6.2% Revenue growth, TTM YoY, FY27 Q2: 8.2% 8.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 -6.0%
FY24 Q4 -11.0%
FY25 Q1 -10.8%
FY25 Q2 -9.9%
FY25 Q3 -7.2%
FY25 Q4 -3.1%
FY26 Q1 -2.5%
FY26 Q2 -0.5%
FY26 Q3 0.6%
FY26 Q4 3.1%
FY27 Q1 6.2%
FY27 Q2 8.2%
Operating margin (TTM) Lowe's
11% 12% 13% 14% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: 12.8% Operating margin (TTM), FY24 Q4: 13.4% Operating margin (TTM), FY25 Q1: 12.8% Operating margin (TTM), FY25 Q2: 12.5% Operating margin (TTM), FY25 Q3: 12.3% Operating margin (TTM), FY25 Q4: 12.5% Operating margin (TTM), FY26 Q1: 12.4% Operating margin (TTM), FY26 Q2: 12.4% Operating margin (TTM), FY26 Q3: 12.2% Operating margin (TTM), FY26 Q4: 11.8% Operating margin (TTM), FY27 Q1: 11.5% Operating margin (TTM), FY27 Q2: 11.4% 11.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 12.8%
FY24 Q4 13.4%
FY25 Q1 12.8%
FY25 Q2 12.5%
FY25 Q3 12.3%
FY25 Q4 12.5%
FY26 Q1 12.4%
FY26 Q2 12.4%
FY26 Q3 12.2%
FY26 Q4 11.8%
FY27 Q1 11.5%
FY27 Q2 11.4%
FCF margin (TTM) Lowe's
5% 6% 7% 8% 9% 10% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 6.0% FCF margin (TTM), FY24 Q4: 7.2% FCF margin (TTM), FY25 Q1: 9.8% FCF margin (TTM), FY25 Q2: 9.0% FCF margin (TTM), FY25 Q3: 9.3% FCF margin (TTM), FY25 Q4: 9.2% FCF margin (TTM), FY26 Q1: 8.0% FCF margin (TTM), FY26 Q2: 9.2% FCF margin (TTM), FY26 Q3: 8.4% FCF margin (TTM), FY26 Q4: 8.9% FCF margin (TTM), FY27 Q1: 8.6% FCF margin (TTM), FY27 Q2: 7.7% 7.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 6.0%
FY24 Q4 7.2%
FY25 Q1 9.8%
FY25 Q2 9.0%
FY25 Q3 9.3%
FY25 Q4 9.2%
FY26 Q1 8.0%
FY26 Q2 9.2%
FY26 Q3 8.4%
FY26 Q4 8.9%
FY27 Q1 8.6%
FY27 Q2 7.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Lowe's took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $86.3B
  2. Cost of revenue $57.4B · 66.5%
  3. Gross profit $28.9B · 33.5%
  4. Selling, general and admin $16.8B · 19.5%
  5. Other operating costs $1.9B · 2.2%
  6. Operating income $10.2B · 11.8%
  7. Income tax $2.1B · 2.4%
  8. Interest and other $1.4B · 1.6%
  9. Net income $6.7B · 7.7%

Shares of revenue. Source: Lowe's's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jan 2010 2011 Jan 2011 2012 Feb 2012 2013 Feb 2013 2014 Jan 2014 2015 Jan 2015 2016 Jan 2016 2017 Feb 2017 2018 Feb 2018 2019 Feb 2019 2020 Jan 2020 2021 Jan 2021 2022 Jan 2022 2023 Feb 2023 2024 Feb 2024 2025 Jan 2025 2026 Jan 2026 LTM Jul 2026
Income
Revenue 47.2 48.8 50.2 50.5 53.4 56.2 59.1 65.0 68.6 71.3 72.1 89.6 96.3 97.1 86.4 83.7 86.3 90.4
Gross profit 16.5 17.2 17.4 17.3 18.5 19.6 20.6 21.7 22.4 22.9 22.9 29.6 32.1 32.3 28.8 27.9 28.9 29.9
EBITDA — — — — — 6.4 6.6 7.4 8.1 5.6 7.7 11.2 14.0 12.1 13.5 12.4 12.3 12.6
Operating income — — — — — 4.8 5.0 5.8 6.6 4.0 6.3 9.6 12.1 10.2 11.6 10.5 10.2 10.3
Net income 1.8 2.0 1.8 2.0 2.3 2.7 2.5 3.1 3.4 2.3 4.3 5.8 8.4 6.4 7.7 7.0 6.7 6.6
Diluted EPS $1.21 $1.42 $1.43 $1.69 $2.14 $2.71 $2.73 $3.47 $4.09 $2.84 $5.49 $7.75 $12.04 $10.17 $13.20 $12.23 $11.85 $11.86
Growth (year on year)
Revenue −2.1% +3.4% +2.9% +0.6% +5.7% +5.3% +5.1% +10.1% +5.5% +3.9% +1.2% +24.2% +7.4% +0.8% −11.0% −3.1% +3.1% +8.2%
EBITDA — — — — — — +2.8% +13.4% +9.3% −30.8% +37.3% +45.5% +24.3% −13.1% +11.0% −7.7% −0.7% +3.1%
Operating income — — — — — — +3.7% +17.6% +12.7% −39.0% +57.1% +52.8% +25.4% −16.0% +13.8% −9.4% −3.0% −0.4%
Net income −18.8% +12.7% −8.5% +6.5% +16.7% +18.0% −5.6% +21.4% +11.5% −32.9% +85.0% +36.3% +44.7% −23.8% +20.0% −10.0% −4.4% −3.1%
Diluted EPS −18.8% +17.4% +0.7% +18.2% +26.6% +26.6% +0.7% +27.1% +17.9% −30.6% +93.3% +41.2% +55.4% −15.5% +29.8% −7.3% −3.1% −2.7%
Margins
Gross margin 34.9% 35.1% 34.6% 34.3% 34.6% 34.8% 34.8% 33.3% 32.7% 32.1% 31.8% 33.0% 33.3% 33.2% 33.4% 33.3% 33.5% 33.1%
EBITDA margin — — — — — 11.3% 11.1% 11.4% 11.8% 7.9% 10.7% 12.5% 14.5% 12.5% 15.6% 14.9% 14.3% 14.0%
Operating margin — — — — — 8.5% 8.4% 9.0% 9.6% 5.6% 8.8% 10.8% 12.6% 10.5% 13.4% 12.5% 11.8% 11.4%
Net margin 3.8% 4.1% 3.7% 3.9% 4.3% 4.8% 4.3% 4.8% 5.0% 3.2% 5.9% 6.5% 8.8% 6.6% 8.9% 8.3% 7.7% 7.3%
Free-cash-flow margin 4.8% 5.2% 5.0% 5.0% 5.9% 7.2% 6.1% 6.8% 5.7% 7.0% 3.9% 10.3% 8.6% 7.0% 7.2% 9.2% 8.9% 7.7%
Cash flow
Cash from operations 4.1 3.9 4.3 3.8 4.1 4.9 4.8 5.6 5.1 6.2 4.3 11.0 10.1 8.6 8.1 9.6 9.9 9.3
Capital spending 1.8 1.3 1.8 1.2 0.9 0.9 1.2 1.2 1.1 1.2 1.5 1.8 1.9 1.8 2.0 1.9 2.2 2.3
Free cash flow 2.3 2.5 2.5 2.6 3.2 4.0 3.6 4.5 3.9 5.0 2.8 9.3 8.3 6.8 6.2 7.7 7.7 7.0
Stock-based pay 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3
Free cash flow after stock pay 2.2 2.4 2.4 2.5 3.1 3.9 3.5 4.4 3.8 4.9 2.7 9.1 8.0 6.5 6.0 7.5 7.4 6.7
Balance sheet
Cash 0.6 0.7 1.0 0.5 0.4 0.5 0.4 0.6 0.6 0.5 0.7 4.7 1.1 1.3 0.9 1.8 1.0 3.2
Total debt — — — — — — — — — — — — — — — — — 37.6
Net debt (negative = net cash) −0.6 −0.7 −1.0 −0.5 −0.4 −0.5 −0.4 −0.6 −0.6 −0.5 −0.7 −4.7 −1.1 −1.3 −0.9 −1.8 −1.0 34.4
Diluted shares 1,464m 1,403m 1,273m 1,152m 1,061m 990m 929m 881m 840m 812m 778m 750m 699m 631m 584m 568m 560m 560m
Returned to shareholders
Dividends 0.4 0.6 0.6 0.7 0.7 0.8 1.0 1.1 1.3 1.5 1.6 1.7 2.0 2.4 2.5 2.6 2.6 2.7
Buybacks 0.5 2.6 2.9 4.4 3.7 3.9 3.9 3.6 3.2 3.0 4.3 5.0 13.0 14.1 6.1 4.1 0.2 0.5
Total returned 0.9 3.2 3.6 5.1 4.4 4.7 4.9 4.7 4.5 4.5 5.9 6.7 15.0 16.5 8.7 6.6 2.8 3.2

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 4 checks passed · July 31, 2026
What it owns · $55.9bn
Short-term assets $23.3bnLonger-term assets $32.5bn
What it owes, and who funded it · $63.3bn
Short-term liabilities $21.1bnLonger-term liabilities $42.2bnShareholders' equity $-7.4bn
  • Short-term assets cover short-term liabilities $23.3bn of assets due within a year against $21.1bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $23.3bn short-term assets against $42.2bn of longer-dated liabilities.
  • More cash than debt $3.2bn of cash against $35.2bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $9.3bn of operating cash flow against $35.2bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Lowe's's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$464M
Dividends (TTM)
$2.7B
Returned to shareholders
45%
of free cash flow
Buybacks, last 3 fiscal years
$10.4B
Diluted share count
−0.4%
year over year
Total shareholder yield
2.6%
dividends 2.2% + buybacks 0.4% of market value
Dividend payout ratio
41%
of net income paid out
Sales & admin spending
19.3%
of revenue

Competitors: side by side with peers

Closest by revenue in home improvement retail
Last 12 months unless stated LOW HD FND Median
Revenue, last 12 months $90.4bn $169.2bn $4.7bn $90.4bn
Revenue growth, last 12 months 8.2% 2.5% 1.8% 2.5%
Revenue growth, 3-year average −1.0% 3.0% 2.5% 2.5%
Revenue growth, latest quarter 8.3% 5.7% 3.0% 5.7%
Gross margin 33.1% 33.2% 44.9% 33.2%
Operating margin 11.4% 12.4% 6.5% 11.4%
Operating margin, 3-year average 12.1% 13.1% 6.0% 12.1%
Net margin 7.3% 8.4% 5.1% 7.3%
Cash from operations / revenue 10.2% 11.1% 12.8% 11.1%
Free-cash-flow margin 7.7% 8.9% 7.2% 7.7%
Free-cash-flow margin, 3-year average 8.7% 9.5% 3.5% 8.7%
Stock pay / revenue 0.3% 0.3% 0.7% 0.3%
Change in share count −0.4% 0.2% −0.4% −0.4%

Median of all 3 companies we cover in home improvement retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

454 consumer discretionary companies
Measure Company Peer median Rank
Revenue growth Growth 8.2% 4.3% 154 of 452
Change in growth rate Growth +1.9pp -0.0pp 133 of 452
Gross margin Profitability 33.1% 37.1% 205 of 355
Operating margin Profitability 11.4% 4.1% 96 of 415
Net margin Profitability 7.3% 2.5% 123 of 454
Free-cash-flow margin Cash generation 7.7% 4.1% 156 of 449
Stock pay as % of revenue Cash generation 0.3% 0.8% 55 of 403
Long-term debt as % of assets Balance sheet 63.0% 18.2% 284 of 317
Change in share count Balance sheet -0.4% 0.0% 186 of 408

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 30, 2026
Products and services
Line of business Revenue Share YoY
Products $82.4B 95.4% ▲ 2.3%
Services $2.5B 2.9% ▲ 31.4%
Other $1.4B 1.6% ▲ 15.8%
Geography
Region Revenue Share YoY
United States $86.2B 99.9% ▲ 3.0%
Canada $61M 0.1% —

From Lowe's's 10-K filed March 23, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$97.7B
Institutions reporting
2,636
Shares held vs prior quarter
▲ 1.9%
Positions opened / closed
126 / 174

Top buyers and sellers, Q2 2026: 1,025 institutions bought and 1,368 sold ; the biggest buyer was FMR LLC (+5.4M shares) and the biggest seller Price T Rowe Associates Inc (−2.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $8.9B 40.5M 9.2% ▲ 2.1%
FMR LLC $8.2B 37.3M 8.4% ▲ 17.0%
Vanguard Capital Management LLC $8.1B 36.6M 8.3% ▲ 0.4%
Jpmorgan Chase & Co $8B 36.2M 8.1% ▼ 2.4%
State Street Corp $5.6B 25.3M 5.7% ▲ 3.6%
Vanguard Portfolio Management LLC $3.2B 14.5M 3.3% ▲ 1.9%
Geode Capital Management, LLC $3.1B 14.3M 3.2% ▲ 1.3%
Morgan Stanley $2.2B 10.0M 2.3% ▼ 9.7%
Wells Fargo & Company $1.8B 8.3M 1.9% ▼ 5.0%
Bank Of America Corp $1.8B 8.3M 1.9% ▼ 2.3%
Norges Bank $1.8B 8.3M 1.9% —
Northern Trust Corp $1.3B 6.0M 1.4% ▼ 2.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Lowe's's complete shareholder register. Values are as reported by the filers ; 11 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $231,063 1 trade by 1 insider, last 12 months Insider sales History → $13.2M 7 trades by 5 insiders · 36% under pre-set plans
Net ▼ $12.9M net selling
Insider Date Trade Shares Price Value
Vagell Margrethe R EVP, Supply Chain June 18, 2026 Sell 2,500 $223.83 $559,575
Pryor Juliette Williams EVP, CLO & Corp. Sec. June 17, 2026 Sell 9,330 $224.81 $2.1M
Dupre Janice EVP, Human Resources June 16, 2026 Sell 14,150 $221.90 $3.1M
Vance Quonta D EVP, Pro & Home Services March 4, 2026 Sell 10,369 $257.54 $2.7M
Ellison Marvin R Chairman, President & CEO January 9, 2026 Sell pre-set plan 3,524 $262.51 $925,081
Ellison Marvin R Chairman, President & CEO January 9, 2026 Sell pre-set plan 7,323 $261.39 $1.9M
Ellison Marvin R Chairman, President & CEO January 9, 2026 Sell pre-set plan 7,153 $260.30 $1.9M
Simkins Lawrence Director November 24, 2025 Buy 1,000 $231.06 $231,063

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 95 trades and filings

In the last 12 months, 2 members of Congress disclosed 0 purchases and 4 sales of Lowe's shares.

  • Pete Sessions(R-TX 17):Sale (full), $15,001 - $50,000, traded October 22, 2026, filed October 27, 2026
  • Kevin Hern(R-OK 1):Sale (partial), $1,001 - $15,000, traded September 17, 2026, filed October 13, 2026
  • Kevin Hern(R-OK 1):Sale (partial), $1,001 - $15,000, traded September 2, 2026, filed September 25, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 18, 2026 estimated from the company's past filing pattern, not announced

  • August 19, 2026
  • May 20, 2026
  • February 25, 2026
  • November 19, 2025
  • August 20, 2025
  • May 21, 2025

Recent SEC filings

Data status

When each part of this page on Lowe's was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Lowe's in brief

What does Lowe's do?
Lowe's is a US-listed company in the home improvement retail industry. Its financial year ends in January.
What is Lowe's's stock ticker?
Lowe's trades under the ticker LOW on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Lowe's's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Lowe's reported revenue of $90.4B, 8.2% higher than a year earlier, according to its SEC filings.
What is Lowe's's free cash flow?
Lowe's's free-cash-flow margin is 7.7% of revenue over the trailing twelve months, ranking 156 of the 449 consumer discretionary companies we cover.
What is Lowe's's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Lowe's's free cash flow after stock-based pay gives ~$180 per share in the base case, and ~$120–$260 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Lowe's's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Lowe's buying back stock, and does it pay a dividend?
Lowe's spent $464M on share repurchases over the trailing twelve months, and its diluted share count fell 0.4% over the year.
What is Lowe's's market cap?
On November 2, 2026, Lowe's's market capitalisation was about $122B, with a price-to-earnings ratio of 18.4 and net debt of $34.4B. Market figures come from third-party market data and may be delayed.
Does Lowe's pay a dividend?
Yes: Lowe's paid $2.7B in dividends over the trailing twelve months, a dividend yield of 2.20% and a payout ratio of 40.5%.
Who are Lowe's's competitors?
In our Home Improvement Retail peer group, the companies closest to Lowe's are The Home Depot and Floor & Decor Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Lowe's's.
Are insiders buying or selling Lowe's stock?
Over the last 12 months, Lowe's's directors and officers reported 1 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is Lowe's's next earnings date?
Around November 18, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Lowe's announces its own schedule.