At a glance
Lowe's Companies Inc is worth $122.39B, about 18 times its fiscal 2026 earnings. Revenue grew 3.1% to $86.29B in fiscal 2026, with 7.7% kept as profit; over 5 years it has grown 0.8% a year. It pays a 2.25% dividend yield, raised every year for at least 9 years, and returned $49.63B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned −6.4% over the past year with dividends reinvested and +0.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 48.6% in the 2020 crash (S&P 500: 33.7%) and 33.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 21 months after the lows.
The business in plain English
Lowe's is the world's second-largest home improvement retailer. As of January 30, 2026, it ran 1,759 stores and outlets in the United States, with about 196 million square feet of selling space. A typical store stocks about 37,000 items, from appliances and lumber to paint and tools. Lowe's also sells online, through contact centers and on-site staff. It arranges installation through independent contractors, mainly for kitchens and baths, flooring, appliances, millwork and plumbing.
Customers fall into two groups. One is do-it-yourself homeowners and renters, plus people who hire others for the work. The other is professional, or Pro, customers: mostly small and medium-sized tradespeople, remodelers and property managers. During the fiscal year ended January 30, 2026, Lowe's acquired Foundation Building Materials and Artisan Design Group to reach larger builders and contractors. Including those businesses, it had over 540 branches in the US and Canada that deliver and install building materials.
Lowe's earns money on the gap between what it pays suppliers and what customers pay, and on installation services. In that fiscal year, revenue was $86.3 billion. Gross margin, the share of sales left after the cost of goods, was 33.5%. After store and other operating costs, 11.8% remained as operating profit. The largest reported category, labeled hardlines, made up 28% of sales. No other category topped 9%.
Price history
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LOW -6.4% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Hardlines | $24.18B | 28% |
| Seasonal And Outdoor Living | $7.07B | 8.2% |
| Lumber | $6.68B | 7.7% |
| Lawn And Garden | $6.58B | 7.6% |
| Hardware | $6.03B | 7% |
| Kitchens & Bath | $5.87B | 6.8% |
| Building Materials | $5.54B | 6.4% |
| Rough Plumbing | $5.11B | 5.9% |
| Paint | $5.00B | 5.8% |
| Millwork | $4.93B | 5.7% |
| Tools | $4.51B | 5.2% |
| Electrical | $4.28B | 5% |
Latest results
- In Q2 FY2027 (ended Jul 31, 2026), revenue was $25.96B, up 8.3% from a year earlier, and net income was $2.40B (0.0%).
- For fiscal 2026, revenue was $86.29B (+3.1% year over year; -0.8% a year from FY2021 to FY2026) with a 7.7% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | -0.8% weak |
|---|---|
| Operating margin | 11.8% watch |
| Free cash flow margin | 8.9% watch |
| Return on assets (FY2026) | 12.3% good |
| Net cash (cash minus debt) | $-33.97B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $89.60B | $5.83B | $9.26B |
| FY2022 | $96.25B | $8.44B | $8.26B |
| FY2023 | $97.06B | $6.44B | $6.76B |
| FY2024 | $86.38B | $7.73B | $6.18B |
| FY2025 | $83.67B | $6.96B | $7.70B |
| FY2026 | $86.29B | $6.65B | $7.65B |
Valuation snapshot
| Market value | $122.39B |
|---|---|
| P/E ratio | 18.4 |
| Dividend yield | 2.25% |
Rank among 1514 US companies
Market value at each year end
Lowe's Companies’s market value went from $61.86B at the end of 2016 to $122.39B on Nov 2, 2026, about 2.0 times as much; since the end of 2025 it is down 10%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $122.39B | -9.5% |
| 2025 | $135.28B | -2.9% |
| 2024 | $139.36B | +8.9% |
| 2023 | $127.99B | +6.2% |
| 2022 | $120.48B | -30.8% |
| 2021 | $174.15B | +48.1% |
| 2020 | $117.61B | +28.1% |
| 2019 | $91.79B | +23.8% |
| 2018 | $74.16B | -3.8% |
| 2017 | $77.12B | +24.7% |
| 2016 | $61.86B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| LOW price data to Nov 2, 2026 | -7.6% | -6.4% | +6.0% | +0.7% | +14.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -7.6% |
| 2025 | -0.3% |
| 2024 | +13.0% |
| 2023 | +14.0% |
| 2022 | -21.5% |
| 2021 | +63.3% |
| 2020 | +36.4% |
| 2019 | +32.2% |
| 2018 | +1.2% |
| 2017 | +33.3% |
| 2016 | -4.9% |
| 2015 | +12.1% |
| 2014 | +41.2% |
| 2013 | +41.8% |
| 2012 | +42.9% |
| 2011 | +3.4% |
| 2010 | +9.2% |
| 2009 | +10.6% |
| 2008 | -3.3% |
| 2007 | -26.8% |
| 2006 | -6.1% |
| 2005 | +15.9% |
| 2004 | +4.1% |
| 2003 | +47.9% |
| 2002 | -19.1% |
| 2001 | +108.8% |
| 2000 | -25.4% |
| 1999 | +16.9% |
| 1998 | +115.1% |
| 1997 | +34.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 51.7% over that stretch · deepest drop along the way 52.9%, back to its old high 13.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 45.1% over that stretch · deepest drop along the way 48.6%, back to its old high 2.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 23.1% over that stretch · deepest drop along the way 33.5%, back to its old high 21.1 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 3 sales ($5.8M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 16, 2026 | Janice Dupre EVP, Human Resources | sell | $3.1M |
| Jun 17, 2026 | Juliette Williams Pryor EVP, CLO & Corp. Sec. | sell | $2.1M |
| Jun 18, 2026 | Margrethe R Vagell EVP, Supply Chain | sell | $560K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.5% | Mar 31, 2026 |
| FMR LLC | 5.7% | Mar 31, 2026 |
| JPMORGAN CHASE & CO. | 5.5% | Jun 30, 2025 |
ETFs with the most weight in LOW
| PKB Invesco Building & Construction ETF | 5.01% |
| FMCX FM Focus Equity ETF | 4.8% |
| ITB iShares U.S. Home Construction ETF | 4.68% |
| RTH VanEck Retail ETF | 4.42% |
| XLY Consumer Discretionary Select Sector SPDR Fund | 3.63% |
| XHB SPDR S&P Homebuilders ETF | 3.42% |
| STNC Hennessy Stance ESG ETF | 3.3% |
| HOMZ Hoya Capital Housing ETF | 3.04% |
What could go wrong
- Big acquisitions may not pay off. Lowe's acquired Foundation Building Materials and Artisan Design Group to serve larger builders and contractors. It warns that such deals carry many uncertainties, and the expected benefits may not arrive.
- Problems with third-party installers. Lowe's arranges installations through independent and outsourced contractors. It says failures in this program have already caused, and could again cause, operational and legal problems that hurt results.
- Housing slowdowns hit home improvement spending. Demand tracks home prices, home sales, the age of houses and disposable income. Lowe's says weak conditions in these areas have slowed its sales growth before and could again.
- Tariffs and supply chain disruptions. Lowe's sources products from vendors worldwide. Its annual report says trade policy changes, added tariffs, geopolitical conflicts and health crises have hurt its supply chain and results before, and may again.
- Weather swings affect seasonal sales. Seasonal and outdoor living plus lawn and garden made up about 16% of sales in the fiscal year ended January 30, 2026. Unusual weather and disasters can disrupt stores and shift demand.
- Large debt load and negative equity. As of July 31, 2026, Lowe's had $37.6 billion of debt against $3.6 billion in cash and investments, and liabilities exceeded assets by $7.4 billion. Borrowing depends on its credit strength and capital markets.
Recent events
- Executive or board change
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Quarterly results released
- Quarterly results released
For income and retirement investors
Lowe's has raised its dividend at least nine years in a row. Dividends per share rose from $2.30 to $4.75 over the five fiscal years ended January 30, 2026, about 15.6% a year. In that final year, dividends took 39.6% of earnings and 34.5% of free cash flow, the cash left after capital spending. The dividend yield (yearly dividends divided by share price) was 2.47% as of October 28, 2026. Lowe's also spent $37.5 billion repurchasing its own shares over those five years, shrinking the share count 16.7% between November 2021 and August 2026. Repurchases fell to $211 million in the latest fiscal year.
In past downturns, the stock fell 52.9% in the 2008 financial crisis, 48.6% in the 2020 COVID crash and 33.5% in the 2022 bear market. It regained its prior peak 13.6, 2.3 and 21.1 months after each low. A single stock like Lowe's carries more risk than a diversified fund.
Questions investors ask
Does Lowe's raise its dividend every year?
Yes. Lowe's has increased its dividend at least nine years in a row, and the streak may be longer. Dividends per share reached $4.75 in the fiscal year ended January 30, 2026, up from $4.55 the year before and $2.30 five years earlier. Dividends used 39.6% of earnings that year, a moderate share of profits. The dividend yield was 2.47% as of October 28, 2026.
How does Lowe's make money?
Lowe's makes money by selling home improvement products and installation services. As of January 30, 2026, it ran 1,759 US stores and outlets, plus over 540 branches that serve larger contractors and builders. Shoppers can also order online or through contact centers. In the fiscal year ended that date, revenue was $86.3 billion and net income was $6.7 billion. That is a net margin of 7.7%, or about 7.7 cents of profit per dollar of sales.
Why did Lowe's acquire Foundation Building Materials?
Lowe's acquired Foundation Building Materials, along with Artisan Design Group, to reach larger professional customers in residential and commercial markets. The company calls the deals an important step in its Total Home strategy. Its stores mainly serve do-it-yourself shoppers and small to medium-sized Pros. The acquired branches deliver and install building materials for home builders and property managers. Lowe's warns that such deals carry risks and may not deliver the expected benefits.
How much debt does Lowe's have?
Lowe's had about $37.6 billion of total debt as of July 31, 2026, against $3.6 billion in cash and investments. Shareholders' equity was negative $7.4 billion, which means the balance sheet showed more liabilities than assets. For context, the business generated $7.65 billion of free cash flow, the cash left after capital spending, in the fiscal year ended January 30, 2026. Lowe's says its ability to borrow depends on its credit strength and on capital markets working well.
How has Lowe's stock performed?
Weakly over the short term and better over the long term. As of October 28, 2026, the share price was down 15.9% year to date and 16.9% over one year. Over five years it fell 1.1% a year. Over 10 years it gained 13.6% a year, or 258% in total. The shares traded at 16.7 times earnings per share for the fiscal year ended January 30, 2026. This measure is called the price-to-earnings ratio.