Stock Analysis on Net
Stock Analysis on Net

Lowe’s Cos. Inc. (NYSE:LOW)

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)

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Jan 30, 2026 Oct 31, 2025 Aug 1, 2025 May 2, 2025 Jan 31, 2025 Nov 1, 2024 Aug 2, 2024 May 3, 2024 Feb 2, 2024 Nov 3, 2023 Aug 4, 2023 May 5, 2023 Feb 3, 2023 Oct 28, 2022 Jul 29, 2022 Apr 29, 2022 Jan 28, 2022 Oct 29, 2021 Jul 30, 2021 Apr 30, 2021 Jan 29, 2021 Oct 30, 2020 Jul 31, 2020 May 1, 2020
Short-term borrowings 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.16 1.14 0.00 0.00 0.00 0.00 2.02 2.02 0.00 0.00 0.00 1.93 2.18
Current maturities of long-term debt 4.49 4.56 8.96 9.22 6.00 5.76 2.87 2.85 1.28 1.28 1.33 1.28 1.34 1.30 0.26 0.24 1.94 2.74 2.72 2.61 2.38 1.20 1.18 1.32
Current operating lease liabilities 1.32 1.29 1.15 1.24 1.31 1.11 1.23 1.22 1.17 1.25 1.20 1.14 1.19 1.39 1.40 1.29 1.42 1.16 1.13 1.08 1.16 1.04 1.00 1.10
Accounts payable 18.03 19.15 20.41 24.76 21.55 23.70 23.00 25.87 20.83 23.32 23.21 25.88 24.08 26.08 27.03 27.81 25.43 22.94 24.31 27.27 23.29 25.08 24.95 23.65
Accrued compensation and employee benefits 2.37 1.91 2.36 1.88 2.34 1.85 2.35 1.92 2.28 1.76 2.30 1.67 2.54 2.99 2.63 2.39 3.50 2.74 2.69 2.56 2.89 2.20 2.20 2.14
Deferred revenue 2.73 2.88 3.34 3.31 3.15 3.04 3.15 3.11 3.37 3.53 3.52 3.58 3.67 3.70 4.21 4.21 4.29 3.96 4.13 3.95 3.44 3.17 3.31 2.64
Other current liabilities 7.01 6.60 10.17 8.94 9.17 8.01 8.00 8.03 8.32 7.66 8.00 8.12 10.68 9.00 8.06 7.96 7.47 6.62 6.84 7.24 6.92 5.77 6.71 6.94
Current liabilities 35.95% 36.39% 46.39% 49.34% 43.52% 43.46% 40.61% 43.00% 37.25% 38.80% 39.56% 41.84% 44.64% 44.44% 43.59% 43.90% 44.06% 42.17% 43.85% 44.71% 40.08% 38.45% 41.28% 39.98%
Long-term debt, excluding current maturities 69.24 70.15 65.53 67.31 76.33 73.54 77.13 76.32 84.66 83.20 80.50 78.10 75.22 70.05 61.56 57.87 53.45 48.34 44.46 42.79 44.22 41.64 39.02 44.07
Noncurrent operating lease liabilities 7.47 7.61 8.15 8.09 8.42 8.36 8.32 8.29 8.94 8.47 8.11 7.58 8.04 8.62 8.71 8.17 9.01 8.37 7.77 7.67 8.32 7.68 7.46 8.54
Deferred income taxes, net 1.92 1.51 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred revenue, Lowe’s protection plans 2.33 2.38 2.75 2.79 2.94 2.82 2.80 2.70 2.93 2.89 2.76 2.63 2.75 2.52 2.50 2.29 2.52 2.27 2.22 2.05 2.18 1.98 1.90 2.00
Other liabilities 1.41 1.38 1.63 1.68 1.81 1.81 1.78 1.89 2.23 2.27 2.16 1.89 1.97 1.76 1.71 1.60 1.75 2.04 2.04 1.92 2.12 2.25 1.93 1.66
Noncurrent liabilities 82.37% 83.03% 78.07% 79.87% 89.50% 86.53% 90.02% 89.20% 98.76% 96.83% 93.53% 90.20% 87.97% 82.95% 74.48% 69.93% 66.73% 61.02% 56.50% 54.42% 56.85% 53.54% 50.30% 56.27%
Total liabilities 118.32% 119.42% 124.46% 129.21% 133.02% 129.99% 130.63% 132.20% 136.01% 135.62% 133.09% 132.04% 132.61% 127.39% 118.07% 113.83% 110.79% 103.19% 100.35% 99.13% 96.93% 91.99% 91.58% 96.26%
Preferred stock, $5 par value; issued and outstanding: none 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.50 par value 0.52 0.52 0.60 0.62 0.65 0.63 0.63 0.63 0.69 0.68 0.65 0.64 0.69 0.65 0.68 0.66 0.75 0.69 0.71 0.70 0.78 0.74 0.73 0.82
Capital in excess of par value 0.68 0.43 0.32 0.03 0.00 0.00 0.00 0.00 0.00 0.02 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.19 0.00 0.25 0.02
Retained earnings (accumulated deficit) -20.02 -20.89 -25.98 -30.49 -34.33 -31.27 -31.92 -33.48 -37.41 -37.03 -34.46 -33.34 -34.00 -28.34 -19.04 -14.82 -11.46 -3.87 -0.93 0.19 2.39 7.75 7.99 3.76
Accumulated other comprehensive income (loss) 0.50 0.51 0.60 0.63 0.67 0.65 0.66 0.65 0.72 0.71 0.69 0.66 0.70 0.30 0.29 0.33 -0.08 -0.01 -0.13 -0.02 -0.29 -0.48 -0.55 -0.86
Shareholders’ equity (deficit) -18.32% -19.42% -24.46% -29.21% -33.02% -29.99% -30.63% -32.20% -36.01% -35.62% -33.09% -32.04% -32.61% -27.39% -18.07% -13.83% -10.79% -3.19% -0.35% 0.87% 3.07% 8.01% 8.42% 3.74%
Total liabilities and shareholders’ equity (deficit) 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2026-01-30), 10-Q (reporting date: 2025-10-31), 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).

The composition of liabilities and shareholders’ equity exhibited notable shifts over the observed period, spanning from May 2020 to November 2024, with some values extending to January 2026. A general trend indicates an increasing reliance on liabilities relative to shareholders’ equity, particularly in the later periods. Current liabilities initially comprised approximately 40% of the total, while noncurrent liabilities accounted for around 56%, but these proportions changed significantly over time.

Short-Term Borrowings
Short-term borrowings remained relatively stable in the initial periods, fluctuating between approximately 1.9% and 2.2% of total liabilities and shareholders’ equity. However, the metric decreased substantially in February 2023 to 1.14% and further to 0.16% in April 2023, remaining low through the subsequent periods. This suggests a deliberate reduction in short-term debt reliance.
Current Maturities of Long-Term Debt
Current maturities of long-term debt demonstrated a more volatile pattern. It increased from 1.32% in May 2020 to a peak of 2.74% in October 2021, before declining to 0.24% in April 2022. A subsequent rise was observed, reaching 6.00% in January 2025, before decreasing again to 4.49% in February 2024. This suggests active debt management and potential refinancing activities.
Current Liabilities
Current liabilities consistently represented a significant portion of the total, generally ranging between 38% and 45%. A noticeable increase occurred from October 2021 through January 2025, peaking at 49.34%. This increase was primarily driven by changes in accounts payable and other current liabilities. A subsequent decline is observed in later periods.
Accounts Payable
Accounts payable consistently represented the largest component of current liabilities, fluctuating between approximately 23% and 28%. The metric peaked in April 2022 at 27.81% and then decreased to 18.03% in February 2024, indicating potential changes in supplier payment terms or purchasing patterns. A slight increase is observed in the most recent periods.
Long-Term Debt (Excluding Current Maturities)
Long-term debt, excluding current maturities, consistently constituted a substantial portion of total liabilities, generally between 44% and 53%. A significant increase occurred between January 2022 and February 2024, reaching a high of 75.22% in February 2023. This suggests increased long-term financing. A subsequent decrease is observed in later periods.
Shareholders’ Equity
Shareholders’ equity demonstrated a decreasing trend as a percentage of total liabilities and shareholders’ equity. Starting at 3.74% in May 2020 and peaking at 8.42% in August 2020, it declined to a low of -37.03% in November 2023. This decline is primarily attributable to decreases in retained earnings, which became a significant deficit in later periods. Accumulated other comprehensive income (loss) remained relatively stable, fluctuating around 0.6%.
Overall Trend
The overall trend indicates a shift towards greater financial leverage, with a decreasing proportion of shareholders’ equity and an increasing proportion of liabilities. This is particularly evident in the later periods, where total liabilities exceeded total shareholders’ equity, resulting in a negative shareholders’ equity position. The company appears to have actively managed its debt structure, with fluctuations in both short-term and long-term borrowings.

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