Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Lowe’s Cos. Inc. pages available for free this week:
- Income Statement
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2005
- Analysis of Revenues
- Analysis of Debt
- Aggregate Accruals
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Lowe’s Cos. Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
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).
Overall, the company’s total assets demonstrate considerable fluctuation over the observed period, spanning from May 2020 to November 2024, with a significant increase in late 2024 and early 2025. A detailed examination of individual asset categories reveals varying trends and potential areas of interest.
- Cash and Cash Equivalents
- Cash and cash equivalents exhibited substantial volatility. A peak was observed in July 2020, followed by a decline through early 2021. Subsequent fluctuations continued, with a low point in January 2022. The period from May 2024 through November 2024 shows an increase, but a sharp decrease is noted in the final reporting periods. This suggests active cash management or significant capital deployment activities.
- Short-Term Investments
- Short-term investments generally mirrored the trend of cash and cash equivalents, peaking in July 2020 and declining thereafter. Fluctuations were present throughout the period, but remained relatively stable compared to cash holdings. A slight downward trend is visible in the most recent reporting periods.
- Receivables, Net
- Data for receivables, net, is only available from October 2023 onwards. A relatively stable level is observed, with a slight decrease in the final reporting periods. Further historical context is needed to assess the significance of this trend.
- Merchandise Inventory, Net
- Merchandise inventory remained relatively stable between approximately $13.8 billion and $20.2 billion throughout the period. A general upward trend is apparent from 2020 through 2022, followed by a slight decline in 2023 and 2024. This suggests effective inventory management, though fluctuations may be linked to seasonal demand or supply chain dynamics.
- Other Current Assets
- Other current assets demonstrated a gradual decline over the observed period, with some fluctuations. The decrease is not substantial, but indicates a potential shift in the composition of current assets.
- Current Assets
- Total current assets followed a pattern of increase, decrease, and stabilization. A significant peak was observed in July 2020, followed by a decline and subsequent stabilization around the $22 billion to $26 billion range. The final reporting periods show a decrease, aligning with the trends in cash and short-term investments.
- Noncurrent Assets
- Noncurrent assets remained relatively stable between approximately $22 billion and $25 billion for most of the period. A notable increase is observed in the final reporting periods, driven primarily by increases in intangible assets and goodwill. This suggests potential acquisitions or significant investments in long-term assets.
- Property, Plant, and Equipment
- Property, plant, and equipment (PP&E) remained remarkably stable throughout the period, indicating consistent investment in fixed assets. Minor fluctuations were observed, but the overall trend is flat.
- Operating Lease Right-of-Use Assets
- Operating lease right-of-use assets showed a slight increase over the period, with a more pronounced increase in the final reporting periods. This suggests an increasing reliance on leased assets.
- Long-Term Investments
- Long-term investments remained relatively stable, with minor fluctuations. A slight upward trend is visible in the later reporting periods.
- Intangible Assets and Goodwill
- Intangible assets and goodwill experienced a substantial increase in the final reporting periods, particularly in early 2025. This is a significant development and warrants further investigation to understand the underlying drivers, such as acquisitions or revaluation of existing assets.
- Total Assets
- Total assets mirrored the combined trends of current and noncurrent assets. A peak was observed in July 2020, followed by fluctuations and a significant increase in late 2024 and early 2025, primarily driven by the increase in noncurrent assets. This suggests a strategic shift in asset allocation or significant corporate actions.