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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- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Lowe’s Cos. Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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), 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).
- Net Earnings
- Net earnings demonstrate considerable volatility over the analyzed periods, with notable peaks around mid-2020 and mid-2021, reaching values above 2800 million USD. Subsequently, earnings show a declining trend with intermittent recoveries, notably around mid-2023. The lowest recorded earnings occur in early 2023, around 154 million USD, indicating substantial fluctuations in profitability.
- Depreciation and Amortization
- Depreciation and amortization expenses steadily increase throughout the periods, rising from approximately 337 million USD in early 2019 to over 535 million USD by late 2025. This gradual increase reflects ongoing investment in fixed assets and possibly expanded operational capacity.
- Noncash Lease Expense
- Noncash lease expense remains relatively stable with slight increases over time, fluctuating between 108 and 138 million USD. This stability suggests consistent lease obligations without significant new lease commitments or terminations.
- Deferred Income Taxes
- Deferred income taxes show significant variability with both positive and negative amounts. Early periods exhibit a general trend toward positive balances, while mid to late periods experience sharp negative adjustments. This pattern indicates changing tax positions and timing differences impacting tax liabilities or assets.
- Gains and Losses on Assets and Businesses
- There are sporadic gains and losses with some extraordinary items, including a significant gain of over 2080 million USD in late 2022 on property and other assets, and a large loss on extinguishment of debt of over 1060 million USD in late 2020. Gains and losses related to business sales appear intermittently, with marked gains in early 2023.
- Share-Based Payment Expense
- Share-based payment expense shows a gradual rise from 42 million USD to around 60 million USD over the periods, indicating a steady or increasing cost related to employee compensation plans.
- Merchandise Inventory and Other Operating Assets/Liabilities
- Merchandise inventory and other operating assets reveal highly variable changes, with alternating large positive and negative values across quarters. Such volatility may reflect seasonal inventory adjustments, supply chain dynamics, or changes in asset management. Accounts payable and other operating liabilities also fluctuate significantly, suggesting active management of payables and operational obligations.
- Changes in Operating Assets and Liabilities
- Operating asset and liability changes exhibit considerable volatility, with large positive adjustments during mid-2020, followed by significant negative swings in subsequent periods. This variability underlines fluctuating working capital needs and operational cash flow impacts.
- Net Cash Provided by Operating Activities
- Operating cash flow exhibits substantial volatility, peaking notably in mid-2020 at over 7300 million USD, corresponding with elevated net earnings and favorable adjustments. However, certain quarters experience negative cash flow from operations, reflecting temporary operational challenges or changes in working capital.
- Investing Activities
- Investing cash flows are consistently negative in most quarters, reflecting ongoing capital expenditures and acquisitions. Capital expenditures vary between approximately 200 and 700 million USD per quarter, aligning with depreciation trends. Notable acquisitions occur late in the analyzed timeframe with significant cash outflows. Proceeds from sales of investments and assets show intermittent spikes, partially offsetting outflows.
- Financing Activities
- Financing cash flows are highly variable, with periods of substantial inflows associated with debt issuance, particularly visible in mid and late periods where proceeds exceed several thousand million USD. Debt repayments are consistent but generally smaller in magnitude. Repurchases of common stock show a declining trend in absolute terms over time, although still significant, suggesting ongoing shareholder return activities. Dividend payments remain steady, typically around 400 to 670 million USD per quarter, indicating a stable dividend policy.
- Net Change in Cash and Cash Equivalents
- The net change in cash and equivalents fluctuates significantly, with periods of large increases, such as mid-2020 and mid-2023, followed by notable decreases during early 2022 and late 2024. These swings correlate with the volatile cash flows from operating, investing, and financing activities, reflecting business cycles, investment activity, and capital structure management.