Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Lowe’s Cos. Inc. pages available for free this week:
- Income Statement
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
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Lowe’s Cos. Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-07-31), 10-Q (reporting date: 2026-05-01), 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 cash flow profile is characterized by robust operating cash generation, a strategic pivot in capital allocation from aggressive share repurchases to targeted acquisitions, and a disciplined approach to shareholder dividends.
- Operating Activities and Working Capital
- Net earnings exhibit significant quarterly volatility, typically peaking in the second and third quarters of the year. Net cash provided by operating activities generally remains positive, though it is heavily influenced by seasonal swings in working capital. Merchandise inventory and accounts payable show reciprocal volatility, indicating a cyclical pattern of inventory accumulation and vendor payment management. A notable decline in net earnings occurred in October 2022, though operating cash flow remained positive during that period due to non-cash adjustments.
- Investing Strategy and Capital Expenditure
- Capital expenditures demonstrate a steady upward trend, moving from a range of 300 to 400 million dollars in 2020 to a range of 500 to 600 million dollars by 2026. The most significant event in investing activities is a major acquisition in October 2025, totaling approximately 8.7 billion dollars. Aside from this outlier, investing activities primarily consist of routine capital maintenance and the active management of short-term investments.
- Financing and Capital Allocation
- A distinct shift in financing strategy is observable over the analysis period. From May 2020 through October 2022, the company engaged in aggressive common stock repurchases, often exceeding 3 billion dollars per quarter. Following this period, the volume of buybacks decreased substantially. In contrast, cash dividend payments have remained highly stable and grew incrementally from approximately 420 million dollars per quarter in 2020 to over 670 million dollars per quarter by 2026. To fund the large acquisition in October 2025, the company issued approximately 7 billion dollars in new debt, offsetting the cash outflow from the investment.
- Overall Cash Position
- The net change in cash and cash equivalents is highly erratic, reflecting the timing of large-scale financing events and strategic investments rather than operational instability. The company maintains the ability to fund operations and dividends through organic cash flow, utilizing the debt market primarily for strategic expansion and large-scale capital restructuring.