Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Lowe’s Cos. Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-08-01), 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).
- Short-term Borrowings
- The percentage of short-term borrowings relative to total liabilities and shareholders’ equity shows sporadic activity. It is mostly absent with isolated appearances around early 2020 and diminishing values by mid-2023, indicating limited reliance on short-term borrowings during the periods reported.
- Current Maturities of Long-term Debt
- This liability fluctuates moderately, generally staying below 3%, but exhibits a notable upward trend starting early 2024, reaching above 9% by mid-2025. This suggests that a larger portion of long-term debt is approaching maturity in this period, increasing current obligations.
- Current Operating Lease Liabilities
- Current operating lease liabilities remain relatively stable throughout the periods, consistently ranging close to 1-1.4%. There is no significant trend upward or downward, indicating stable leasing activity.
- Accounts Payable
- Accounts payable shows fluctuations, initially declining from about 26.6% in mid-2019 to a low around 19.4% in early 2020, then rising again unpredictably but generally maintaining a level between 20% and 28%. This variability may reflect changes in purchasing or payment terms.
- Accrued Compensation and Employee Benefits
- These liabilities generally fluctuate between about 1.7% and 3.5%, with occasional peaks such as in early 2022. The metric appears somewhat volatile, reflecting possibly changing workforce costs or timing of accruals.
- Deferred Revenue
- Deferred revenue as a proportion of total liabilities and equity remains stable in the range of approximately 2.6% to 4.3%, with some moderate increases visible during the 2020-2022 period, suggesting relatively consistent advance payments or unearned revenue.
- Other Current Liabilities
- This component shows a gently rising trend from around 6% in 2019 to roughly 8-10% by 2025, suggesting increased miscellaneous current obligations over time.
- Current Liabilities (Aggregate)
- Current liabilities as a whole vary from approximately 37% to almost 50% of total liabilities and equity. There is a noticeable increase approaching mid-2025, indicating a growing short-term liability position relative to the entire capital structure.
- Long-term Debt (Excluding Current Maturities)
- This category shows a consistent upward trend from about 38% in 2019 to peaks above 83% by early 2024, before a slight decline toward mid-2025. The steady increase indicates significantly growing long-term debt over the periods observed, signaling a heavier reliance on debt financing.
- Noncurrent Operating Lease Liabilities
- These liabilities remain relatively stable, fluctuating slightly within a band of approximately 7.5% to 9.5%, indicating consistent lease obligations extending beyond the current period.
- Deferred Revenue Related to Protection Plans
- This specific deferred revenue shows a subtle increasing trend, moving generally from about 2% in 2019 to near 3% by 2025. This suggests growing unearned revenue from protection plans.
- Other Liabilities
- Other liabilities exhibit minor fluctuations between roughly 1.6% and 2.3%, without a clear trend, implying steady, small-scale residual liabilities.
- Noncurrent Liabilities (Aggregate)
- Noncurrent liabilities demonstrate a strong upward trend, rising from mid-50%s to near 99% by early 2024, then moderate reductions thereafter. This reflects a growing proportion of the company’s obligations being long-term in nature, correlating strongly with the rise in long-term debt.
- Total Liabilities
- Total liabilities as a percentage of total obligations rise steadily from about 92% in 2019 to a peak exceeding 136% around early 2024, before receding to around 124% by mid-2025. The fact that liabilities exceed 100% indicates negative shareholders’ equity, implying financial leverage pressures.
- Common Stock
- The proportion attributed to common stock remains stable but low, generally below 1%, with a slight declining tendency towards 0.6% by mid-2025. This small share is characteristic of equity compared to liabilities.
- Capital in Excess of Par Value
- This component is mostly negligible or absent with minimal spikes, reflecting limited changes in additional paid-in capital across periods.
- Retained Earnings (Accumulated Deficit)
- Retained earnings show a declining trend, moving from positive figures near 7% in 2019 to increasingly negative values, bottoming near -37% around early 2024, with some improvement by 2025 but remaining negative. This pattern indicates accumulated losses or distributions exceeding earnings over time.
- Accumulated Other Comprehensive Income (Loss)
- Comprehensive income fluctuates slightly around zero, moving from small negative values to marginal positive percentages approaching 0.7%, indicating minor gains or losses outside net income.
- Shareholders’ Equity (Deficit)
- Shareholders’ equity shows a clear deterioration from approximately 7.5% to deeply negative values near -36% in early 2024, with slight recovery toward mid-2025 but remaining significantly below zero. This negative equity situation corresponds with total liabilities exceeding total assets, reflecting financial challenges.