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.

Lowe’s Cos. Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	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	Jan 31, 2020	Nov 1, 2019	Aug 2, 2019	May 3, 2019
Cash and cash equivalents	621)	4,860)	3,054)	1,761)	3,271)	4,360)	3,237)	921)	1,210)	3,494)	2,950)	1,348)	3,192)	1,482)	3,414)	1,133)	6,121)	4,835)	6,692)	4,690)	8,249)	11,641)	5,955)	716)	794)	1,796)	2,973)
Short-term investments	412)	396)	368)	372)	335)	330)	264)	307)	321)	374)	423)	384)	464)	450)	368)	271)	552)	1,420)	454)	506)	1,852)	1,085)	201)	160)	127)	275)	190)
Receivables, net	1,216)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Merchandise inventory, net	17,183)	16,342)	18,335)	17,409)	17,566)	16,841)	18,224)	16,894)	17,530)	17,422)	19,522)	18,532)	19,817)	19,329)	20,239)	17,605)	16,685)	17,322)	18,382)	16,193)	15,712)	13,831)	14,283)	13,179)	13,716)	13,730)	15,026)
Other current assets	788)	1,041)	918)	816)	805)	806)	1,025)	949)	907)	946)	1,023)	1,178)	1,518)	1,406)	1,590)	1,051)	1,491)	1,506)	1,288)	937)	1,103)	1,160)	1,487)	1,263)	1,025)	995)	1,146)
Current assets	20,220)	22,639)	22,675)	20,358)	21,977)	22,337)	22,750)	19,071)	19,968)	22,236)	23,918)	21,442)	24,991)	22,667)	25,611)	20,060)	24,849)	25,083)	26,816)	22,326)	26,916)	27,717)	21,926)	15,318)	15,662)	16,796)	19,335)
Property, less accumulated depreciation	18,309)	17,708)	17,636)	17,649)	17,586)	17,515)	17,531)	17,653)	17,527)	17,373)	17,402)	17,567)	17,275)	18,713)	18,890)	19,071)	18,925)	19,031)	19,059)	19,155)	18,683)	18,612)	18,501)	18,669)	18,371)	18,203)	18,150)
Operating lease right-of-use assets	4,345)	3,887)	3,799)	3,738)	3,771)	3,819)	3,829)	3,733)	3,647)	3,650)	3,504)	3,518)	3,512)	4,158)	4,131)	4,108)	4,161)	3,820)	3,886)	3,832)	3,823)	3,798)	3,876)	3,891)	3,873)	3,967)	3,926)
Long-term investments	280)	273)	300)	277)	312)	292)	306)	252)	238)	182)	103)	121)	63)	56)	76)	199)	213)	225)	197)	200)	202)	326)	300)	372)	363)	179)	235)
Deferred income taxes, net	—)	140)	118)	244)	261)	184)	115)	248)	280)	230)	150)	250)	301)	104)	33)	164)	220)	221)	213)	340)	241)	267)	215)	216)	479)	512)	495)
Intangible assets, net	5,994)	976)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Goodwill	3,982)	691)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other assets	323)	300)	844)	836)	836)	787)	834)	838)	859)	850)	840)	810)	831)	1,027)	984)	1,038)	1,032)	1,024)	1,029)	882)	1,015)	1,043)	1,014)	1,005)	1,016)	1,038)	1,078)
Noncurrent assets	33,233)	23,975)	22,697)	22,744)	22,766)	22,597)	22,615)	22,724)	22,551)	22,285)	21,999)	22,266)	21,982)	24,058)	24,114)	24,580)	24,551)	24,321)	24,384)	24,409)	23,964)	24,046)	23,906)	24,153)	24,102)	23,899)	23,884)
Total assets	53,453)	46,614)	45,372)	43,102)	44,743)	44,934)	45,365)	41,795)	42,519)	44,521)	45,917)	43,708)	46,973)	46,725)	49,725)	44,640)	49,400)	49,404)	51,200)	46,735)	50,880)	51,763)	45,832)	39,471)	39,764)	40,695)	43,219)

Cash and Cash Equivalents: The cash and cash equivalents exhibit considerable variability across the periods. Initially, the values decline substantially from 2,973 million to 716 million by early 2020 before sharply increasing to 11,641 million in mid-2020. Subsequently, there is a general downward trend with intermittent recoveries, ending at a lower value of 621 million by late 2025. This volatility indicates fluctuating liquidity levels possibly influenced by operational cash flows or financing activities.
Short-Term Investments: Short-term investments show a generally increasing trend up to late 2020, peaking around 1,852 million, followed by fluctuations while maintaining a relatively narrow range between 264 million and 1,420 million. The values stabilize more recently around 350-400 million, suggesting a moderation in short-term investment activity.
Merchandise Inventory, Net: Inventory levels increase steadily from approximately 13,700 million in early 2019 to a peak of over 20,000 million by mid-2022. Post this peak, inventories fluctuate moderately but remain high, maintaining above 16,000 million. This trend reflects growing stock levels, potentially in response to demand expectations or supply chain management strategies.
Other Current Assets: This item demonstrates moderate fluctuation throughout the observed periods. It trends slightly upwards from around 1,000 million to peaks near 1,500 million, but no significant directional change is evident. The stability suggests consistent levels of miscellaneous current asset holdings relative to total current assets.
Current Assets: Current assets show a notable increase, particularly mid-2020, reaching a maximum of approximately 27,700 million, before retreating to values near 20,000-22,000 million range in later periods. The initial rise is primarily driven by cash and investments, indicating an enhancement in short-term liquidity during that time frame.
Property, Net of Depreciation: The net property asset base remains relatively stable around 18,000 million, with minor fluctuations suggestive of consistent capital expenditure and depreciation practices. A slight dip is observed around late 2022 but reverses afterward, indicating maintenance of long-term asset levels.
Operating Lease Right-of-Use Assets: These assets generally remain stable around 3,800 to 4,100 million across the timeline, with a decrease noted around early 2023 and a subsequent increase towards the end of the series. This pattern may reflect lease portfolio adjustments or accounting changes related to lease recognition.
Long-Term Investments: Long-term investments show minor fluctuations with no clear trend, generally ranging between 200 million and 300 million, with occasional spikes such as 363 million in late 2019 and 306 million in mid-2023. The relatively small size and variation suggest a limited emphasis on long-term investment holdings.
Deferred Income Taxes, Net: Deferred tax assets display volatility, with values oscillating between low double and triple digits. The notable declines to below 50 million in some early periods followed by recoveries and another downward trend imply potential changes in tax positions or valuation allowances affecting deferred tax recognition.
Intangible Assets, Net: Intangible assets emerge late in the reported data, with values of 976 million rising sharply to 5,994 million by late 2025. This trend suggests acquisitions or reclassifications resulting in substantial recognition of intangible assets over recent periods.
Goodwill: Goodwill is reported only near the end of the timeline, increasing significantly from 691 million to nearly 4,000 million within a short timeframe. This surge likely reflects acquisitions or business combinations conducted during the latest fiscal periods.
Other Assets: Other assets remain stable overall, fluctuating modestly around 800 to 1,000 million throughout the periods, with no drastic changes. This steadiness indicates a consistent level of miscellaneous noncurrent assets.
Noncurrent Assets: Noncurrent assets mostly hold steady between approximately 22,500 million and 24,500 million, with a drop to 21,982 million in late 2022 followed by a significant increase to over 33,000 million by the end of 2025. The latter uptick correlates with the rise in intangible assets and goodwill, suggesting expansion of the asset base through acquisitions or capital investments.
Total Assets: Total assets reflect general growth over time from around 43,000 million to peaks above 53,000 million. Interim fluctuations mirror movements in current and noncurrent assets, with a pronounced increase evident toward the final periods, driven largely by additions to intangible assets and goodwill alongside fluctuating liquidity and inventory levels.

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Lowe’s Cos. Inc. (NYSE:LOW)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data