Stock Analysis on Net
Stock Analysis on Net
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Lowe’s Cos. Inc. (NYSE:LOW)

Common-Size Income Statement

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Lowe’s Cos. Inc., common-size consolidated income statement

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12 months ended: Jan 31, 2020 Feb 1, 2019 Feb 2, 2018 Feb 3, 2017 Jan 29, 2016 Jan 30, 2015
Net sales 100.00 100.00 100.00 100.00 100.00 100.00
Cost of sales -68.20 -67.88 -65.89 -65.45 -65.18 -65.21
Gross margin 31.80% 32.12% 34.11% 34.55% 34.82% 34.79%
Selling, general and administrative -21.30 -24.42 -22.41 -23.27 -23.88 -23.61
Depreciation and amortization -1.75 -2.07 -2.11 -2.29 -2.53 -2.66
Expenses -23.05% -26.49% -24.52% -25.56% -26.41% -26.26%
Operating income 8.75% 5.63% 9.60% 8.99% 8.41% 8.52%
Interest expense, net of amount capitalized -1.00 -0.91 -0.95 -1.01 -0.94 -0.93
Interest income 0.04 0.04 0.02 0.02 0.01 0.01
Interest, net -0.96% -0.88% -0.92% -0.99% -0.93% -0.92%
Loss on extinguishment of debt 0.00 0.00 -0.68 0.00 0.00 0.00
Pre-tax earnings 7.79% 4.76% 8.00% 8.00% 7.48% 7.61%
Income tax provision -1.86 -1.51 -2.98 -3.24 -3.17 -2.81
Net earnings 5.93% 3.25% 5.02% 4.76% 4.31% 4.80%

Based on: 10-K (filing date: 2020-03-23), 10-K (filing date: 2019-04-02), 10-K (filing date: 2018-04-02), 10-K (filing date: 2017-04-04), 10-K (filing date: 2016-03-29), 10-K (filing date: 2015-03-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Lowe’s Cos. Inc.’s operating income as a percentage of net sales decreased from 2018 to 2019 but then increased from 2019 to 2020 not reaching 2018 level.
Pre-tax earnings Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Lowe’s Cos. Inc.’s pre-tax earnings as a percentage of net sales decreased from 2018 to 2019 but then increased from 2019 to 2020 not reaching 2018 level.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Lowe’s Cos. Inc.’s net earnings as a percentage of net sales decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.