Analysis of Inventory
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- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Inventory Disclosure
Lowe’s Cos. Inc., balance sheet: inventory
US$ in millions
| Jan 31, 2025 | Feb 2, 2024 | Feb 3, 2023 | Jan 28, 2022 | Jan 29, 2021 | Jan 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Merchandise inventory, net |
Based on: 10-K (reporting date: 2025-01-31), 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).
The analysis of the merchandise inventory values over the six-year period reveals a general upward trend with some fluctuations. Starting from US$13,179 million in January 2020, the inventory increased significantly to US$16,193 million in January 2021, indicating a substantial buildup of stock.
This upward momentum continued into January 2022, reaching US$17,605 million, and further grew to US$18,532 million by February 2023, representing a consistent expansion in inventory levels year over year during this period.
However, in February 2024, there was a noticeable decline in merchandise inventory to US$16,894 million, suggesting a reduction in stock holdings after several years of growth. This decrease could indicate improved inventory management or a response to changes in demand or supply chain conditions.
By January 2025, the inventory figures recovered slightly to US$17,409 million, reflecting a partial rebound following the dip the previous year.
- Summary of trends:
- • A strong increase in merchandise inventory from 2020 through early 2023.
- • A reduction in inventory levels in the 2024 period, interrupting the growth trend.
- • A mild recovery in inventory levels in 2025, though not reaching previous highs.
This pattern suggests a period of expansion in stock accumulation followed by efforts to optimize or adjust inventory levels in response to external or internal factors impacting the business environment.