Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Lowe’s Cos. Inc., EBITDA calculation

US$ in millions

12 months ended:	Feb 2, 2024	Feb 3, 2023	Jan 28, 2022	Jan 29, 2021	Jan 31, 2020	Feb 1, 2019
Net earnings	7,726)	6,437)	8,442)	5,835)	4,281)	2,314)
Add: Income tax expense	2,449)	2,599)	2,766)	1,904)	1,342)	1,080)
Earnings before tax (EBT)	10,175)	9,036)	11,208)	7,739)	5,623)	3,394)
Add: Interest expense, net of amount capitalized	1,483)	1,160)	897)	872)	718)	652)
Earnings before interest and tax (EBIT)	11,658)	10,196)	12,105)	8,611)	6,341)	4,046)
Add: Depreciation and amortization	1,923)	1,981)	1,882)	1,594)	1,410)	1,607)
Earnings before interest, tax, depreciation and amortization (EBITDA)	13,581)	12,177)	13,987)	10,205)	7,751)	5,653)

Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Lowe’s Cos. Inc. EBITDA decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.

Lowe’s Cos. Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	166,433)
Earnings before interest, tax, depreciation and amortization (EBITDA)	13,581)
Valuation Ratio
EV/EBITDA	12.25
Benchmarks
EV/EBITDA, Competitors¹
Amazon.com Inc.	20.20
Home Depot Inc.	14.84
TJX Cos. Inc.	14.70
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail	18.22
EV/EBITDA, Industry
Consumer Discretionary	17.40

Based on: 10-K (reporting date: 2024-02-02).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Lowe’s Cos. Inc., historical EV/EBITDA calculation, comparison to benchmarks

	Feb 2, 2024	Feb 3, 2023	Jan 28, 2022	Jan 29, 2021	Jan 31, 2020	Feb 1, 2019
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	180,028)	145,852)	173,894)	147,046)	69,616)	102,974)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	13,581)	12,177)	13,987)	10,205)	7,751)	5,653)
Valuation Ratio
EV/EBITDA³	13.26	11.98	12.43	14.41	8.98	18.22
Benchmarks
EV/EBITDA, Competitors⁴
Amazon.com Inc.	—	19.88	28.04	21.27	32.24	26.57
Home Depot Inc.	16.56	12.29	14.08	16.53	12.34	13.36
TJX Cos. Inc.	15.33	15.36	13.00	65.35	10.33	12.61
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail	—	17.44	20.13	20.16	24.23	21.23
EV/EBITDA, Industry
Consumer Discretionary	—	17.80	20.04	21.99	30.91	17.35

Based on: 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-02-01).

¹ See details »

² See details »

³ 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= 180,028 ÷ 13,581 = 13.26

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Lowe’s Cos. Inc. EV/EBITDA ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Lowe’s Cos. Inc. (NYSE:LOW)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical