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:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
- Analysis of Debt
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Lowe’s Cos. Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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).
The financial data reveals several noteworthy trends across various asset categories over the observed periods.
- Cash and Cash Equivalents
- This category demonstrated considerable volatility, with an initial decline from 2,973 million USD in May 2019 to a low of 716 million USD in January 2020. A sharp increase followed, peaking at 11,641 million USD in July 2020, indicative of possible liquidity management in response to market conditions. Subsequently, cash levels fluctuated markedly, with a general downward drift in recent quarters, ending at 3,054 million USD in May 2025.
- Short-term Investments
- Short-term investments showed variability with moderate increases and decreases. A notable rise occurred between May 2020 and October 2020, moving from 201 million USD to 1,852 million USD. Following this peak, values generally reverted to mid-hundreds, stabilizing around 300–400 million USD towards the end of the period.
- Merchandise Inventory, Net
- Inventory values depict an upward trajectory overall, rising from 15,026 million USD in May 2019 to a peak exceeding 20,000 million USD in April 2022. This growth reflects an expansion in goods held, potentially aligning with sales growth or inventory management strategies. Post-peak, inventory figures moderated slightly but remained elevated between 17,000 to 18,000 million USD, implying sustained higher inventory levels relative to the start of the period.
- Other Current Assets
- Other current assets increased modestly over time with fluctuations, peaking around 1,590 million USD in April 2022. However, the trend depicts some inconsistency with lower values in certain quarters, indicating variability in this asset grouping.
- Current Assets
- Current assets followed a general increasing trend, notably rising from 19,335 million USD in May 2019 to near 27,717 million USD in July 2020. Subsequently, values oscillated but did not return to initial lower levels, suggesting a strengthened current asset base over the timeframe observed.
- Property, Less Accumulated Depreciation
- This asset category remained relatively stable, fluctuating around the 18,000 million USD mark with slight growth observed until January 2021. A decline is evident from the October 2022 quarter onward, bringing the value closer to 17,600 million USD by May 2025, possibly reflecting disposals or accumulated depreciation effects.
- Operating Lease Right-of-Use Assets
- Values here showed stability with minor fluctuations, generally maintaining a range between approximately 3,500 and 4,100 million USD. A notable decline is observed after October 2022, dipping closer to 3,700 million USD by the latest quarter, which could signify lease terminations or revaluations.
- Long-term Investments
- These investments showed modest variability with relatively low values throughout the period, ranging roughly between 50 and 350 million USD. No sustained upward or downward trend is strongly discernible, signaling a consistent but limited allocation to this asset category.
- Deferred Income Taxes, Net
- Deferred tax assets and liabilities fluctuated considerably, with values swinging between approximately 30 and 500 million USD. This variability aligns with changes in tax strategies or timing differences related to income recognition.
- Other Assets
- Other assets remained relatively stable, hovering near 800 to 1,000 million USD, without pronounced directional movement, indicating consistent other asset holdings.
- Noncurrent Assets
- Noncurrent assets were generally stable, fluctuating near the 22,000 to 24,000 million USD range initially, with a marked decline around October 2022 to below 22,000 million USD, suggesting possible asset disposals or reclassification.
- Total Assets
- Total assets increased substantially from 43,219 million USD in May 2019 to a peak of 51,763 million USD in July 2020, reflecting broad asset growth. Subsequently, fluctuating downward trends occurred, with total assets dipping below 45,000 million USD towards the end of the period but rebounding partially to 45,372 million USD in May 2025. These fluctuations indicate dynamic asset management and possibly shifting operational conditions.