Common-Size Balance Sheet: Assets
Quarterly Data
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Lowe’s Cos. Inc. pages available for free this week:
- 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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Lowe’s Cos. Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-05-02), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-11-01), 10-Q (reporting date: 2024-08-02), 10-Q (reporting date: 2024-05-03), 10-K (reporting date: 2024-02-02), 10-Q (reporting date: 2023-11-03), 10-Q (reporting date: 2023-08-04), 10-Q (reporting date: 2023-05-05), 10-K (reporting date: 2023-02-03), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-Q (reporting date: 2022-04-29), 10-K (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-05-01), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-11-01), 10-Q (reporting date: 2019-08-02), 10-Q (reporting date: 2019-05-03).
- Cash and Cash Equivalents
- Cash and cash equivalents as a percentage of total assets exhibit significant fluctuation over the observed periods, initially decreasing from 6.88% to a low of 1.81% by early 2020, followed by a sharp increase reaching a peak of 22.49% in mid-2020. Subsequently, the ratio declines again and continues to oscillate, generally trending between approximately 2% and 10% in the later periods, indicating variable liquidity management or cash holdings over time.
- Short-term Investments
- Short-term investments represent a small fraction of total assets throughout the periods, fluctuating mostly below 1%, with notable increases in mid-2020 and late 2020 reaching above 2%. This suggests a limited but occasionally more active allocation to liquid or near-liquid investment instruments.
- Merchandise Inventory, Net
- Merchandise inventory as a percentage of total assets shows a general increasing trend, starting from around 34.77% in early 2019, declining to approximately 26.72% by mid-2020, and then rising consistently to peak near 42.52% in early 2023. This pattern reflects changes in inventory investment policies or stock levels, possibly influenced by demand, supply chain factors, or strategic inventory management.
- Other Current Assets
- This category remains relatively stable, fluctuating modestly around 2% to 3%, showing no major disruptions or significant trends in composition of other current assets over time.
- Current Assets
- Current assets as a percentage of total assets vary notably, increasing sharply from approximately 38.81% in early 2020 to above 50% multiple times, particularly in mid-2020 and mid-2022. These fluctuations reflect changes in liquidity and short-term resource allocation, with peaks suggesting periods of stronger current asset holdings relative to overall assets.
- Property, Less Accumulated Depreciation
- This category generally ranges between 35% and 47%, showing a mild cyclical trend. Initially increasing through early 2020, then declining sharply by mid-2020, it later fluctuates in the high 30s to low 40s percent range. This reflects changes in fixed asset investment, asset base composition, or depreciation effects over time.
- Operating Lease Right-of-Use Assets
- The proportion of operating lease right-of-use assets remains relatively steady around 7% to 9.8%, with minor oscillations. This stability suggests consistent leasing commitments relative to total asset levels.
- Long-term Investments
- Long-term investments hold a minor fraction of total assets, mostly under 1%, with minor increases observed from late 2022 through early 2024. This indicates a generally limited emphasis on long-term financial investments relative to other asset classes.
- Deferred Income Taxes, Net
- The deferred income taxes as a percentage of total assets remain low and relatively stable, between approximately 0.07% and 1.3%, suggesting a limited impact of deferred tax assets or liabilities on the asset structure.
- Other Assets
- Other assets consistently represent between roughly 1.75% and 2.5% of total assets, with minimal variation, indicating stable minor asset components outside major categories.
- Noncurrent Assets
- Noncurrent assets as a portion of total assets fluctuate between about 46% and 61%, showing periods of both decrease and increase. Initial increases up to early 2020 are followed by declines into mid-2020, and a general fluctuating trend thereafter, reflecting periodic adjustments in the long-term asset base relative to total assets.
- Total Assets
- By definition, total assets are consistently 100% at each period, serving as a baseline for the assessment of asset category proportions.