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

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Lowe’s Cos. Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Jan 30, 2026 Jan 31, 2025 Feb 2, 2024 Feb 3, 2023 Jan 28, 2022 Jan 29, 2021
Short-term borrowings 0.00 0.00 0.00 1.14 0.00 0.00
Current maturities of long-term debt 4.49 6.00 1.28 1.34 1.94 2.38
Current operating lease liabilities 1.32 1.31 1.17 1.19 1.42 1.16
Accounts payable 18.03 21.55 20.83 24.08 25.43 23.29
Accrued compensation and employee benefits 2.37 2.34 2.28 2.54 3.50 2.89
Deferred revenue 2.73 3.15 3.37 3.67 4.29 3.44
Accrued dividends 1.24 1.50 1.51 1.45 1.20 0.94
Accrued interest 0.90 1.04 1.09 1.01 0.62 0.53
Self-insurance liabilities 0.79 1.00 1.03 0.97 0.99 0.93
Sales tax liabilities 0.45 0.45 0.39 0.72 0.51 0.55
Sales return reserve 0.33 0.39 0.46 0.54 0.55 0.54
Accrued property taxes 0.28 0.32 0.31 0.27 0.28 0.26
Income taxes payable 0.04 1.14 0.08 2.70 0.29 0.36
Other 2.98 3.33 3.45 3.03 3.04 2.81
Other current liabilities 7.01% 9.17% 8.32% 10.68% 7.47% 6.92%
Current liabilities 35.95% 43.52% 37.25% 44.64% 44.06% 40.08%
Long-term debt, excluding current maturities 69.24 76.33 84.66 75.22 53.45 44.22
Noncurrent operating lease liabilities 7.47 8.42 8.94 8.04 9.01 8.32
Deferred income taxes, net 1.92 0.00 0.00 0.00 0.00 0.00
Deferred revenue, Lowe’s protection plans 2.33 2.94 2.93 2.75 2.52 2.18
Other liabilities 1.41 1.81 2.23 1.97 1.75 2.12
Noncurrent liabilities 82.37% 89.50% 98.76% 87.97% 66.73% 56.85%
Total liabilities 118.32% 133.02% 136.01% 132.61% 110.79% 96.93%
Preferred stock, $5 par value, issued and outstanding: none 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $.50 par value 0.52 0.65 0.69 0.69 0.75 0.78
Capital in excess of par value 0.68 0.00 0.00 0.00 0.00 0.19
Retained earnings (accumulated deficit) -20.02 -34.33 -37.41 -34.00 -11.46 2.39
Accumulated other comprehensive income (loss) 0.50 0.67 0.72 0.70 -0.08 -0.29
Shareholders’ equity (deficit) -18.32% -33.02% -36.01% -32.61% -10.79% 3.07%
Total liabilities and shareholders’ equity (deficit) 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2026-01-30), 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).

The composition of liabilities and stockholders’ equity at the company has undergone significant shifts between January 2021 and January 2026. A notable trend is the increasing proportion of long-term debt relative to total liabilities and equity, coupled with a corresponding decrease in the proportion of total liabilities and equity over the period. The company experienced a deficit in shareholders’ equity for the majority of the analyzed period.

Current Liabilities
Current liabilities as a percentage of total liabilities and equity decreased from 40.08% in January 2021 to 35.95% in January 2026. Within current liabilities, accounts payable exhibited a decreasing trend, falling from 23.29% to 18.03% over the same period. Other current liabilities also decreased, though with more fluctuation, from 6.92% to 7.01%. Income taxes payable showed substantial volatility, peaking at 2.70% in February 2023 before declining to a minimal 0.04% in January 2026. Deferred revenue also showed a decreasing trend, from 3.44% to 2.73%.
Long-Term Liabilities
Long-term debt, excluding current maturities, increased substantially from 44.22% in January 2021 to a peak of 84.66% in February 2024, before decreasing to 69.24% in January 2026. Noncurrent operating lease liabilities remained relatively stable, fluctuating between 8.04% and 9.01% throughout the period. The proportion of other liabilities decreased from 2.12% to 1.41% over the analyzed timeframe.
Shareholders’ Equity
Shareholders’ equity transitioned from a positive 3.07% of the total in January 2021 to a substantial deficit, reaching -36.01% in February 2024, and improving slightly to -18.32% in January 2026. Retained earnings were a primary driver of this shift, moving from 2.39% to -34.33% in January 2025. Accumulated other comprehensive income (loss) remained relatively small, fluctuating between -0.29% and 0.72%. Common stock remained a small percentage of the total, decreasing from 0.78% to 0.52%.
Total Liabilities
Total liabilities increased significantly as a percentage of total liabilities and equity, rising from 96.93% in January 2021 to a peak of 136.01% in February 2024, before decreasing to 118.32% in January 2026. This increase coincided with the decline in shareholders’ equity. The overall trend indicates a growing reliance on debt financing and a diminishing equity base.

The data suggests a strategic shift towards increased debt financing, potentially for investments or share repurchases, which has resulted in a substantial decrease in shareholders’ equity and a corresponding increase in total liabilities. The volatility in income taxes payable warrants further investigation.

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