Stock Analysis on Net

Lowe’s Cos. Inc. (NYSE:LOW)

Statement of Comprehensive Income 

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

Lowe’s Cos. Inc., consolidated statement of comprehensive income

US$ in millions

Microsoft Excel
12 months ended: Jan 31, 2025 Feb 2, 2024 Feb 3, 2023 Jan 28, 2022 Jan 29, 2021 Jan 31, 2020
Net earnings 6,957 7,726 6,437 8,442 5,835 4,281
Foreign currency translation adjustments, net of tax 5 36 (4) 78 94
Cash flow hedges, net of tax (13) (14) 309 109 (79) (22)
Other 1 2 (2) (5) 1 1
Other comprehensive income (loss) (12) (7) 343 100 73
Comprehensive income 6,945 7,719 6,780 8,542 5,835 4,354

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31).


Net earnings
The net earnings exhibited a general upward trend from 2020 through 2022, increasing from $4,281 million to a peak of $8,442 million. This was followed by a notable decline in 2023 to $6,437 million, a partial recovery in 2024 to $7,726 million, and a subsequent decrease to $6,957 million in 2025. The fluctuations indicate variability in profitability over the analyzed periods.
Foreign currency translation adjustments, net of tax
The foreign currency translation adjustments showed small positive values in 2020 and 2021 ($94 million and $78 million, respectively), turning negative in 2022 at -$4 million. A rebound to $36 million occurred in 2023, followed by a decline to $5 million in 2024 and no data for 2025. This suggests some volatility in the impact of foreign currency movements with no clear sustained trend.
Cash flow hedges, net of tax
The cash flow hedges experienced negative values in 2020 and 2021 (-$22 million and -$79 million), then reversed sharply to positive figures in 2022 and 2023 ($109 million and $309 million). However, this was followed by a return to negative values in 2024 and 2025 (-$14 million and -$13 million). The variation suggests fluctuating effectiveness or valuation changes in hedging activities over the years.
Other
The "Other" comprehensive income component remained relatively stable, with small values ranging between -$5 million and $2 million. There is no significant trend, indicating minor fluctuations in this category.
Other comprehensive income (loss)
Other comprehensive income showed an increase from $73 million in 2020 to $100 million in 2022, then substantially rose to $343 million in 2023. This was followed by declines to -$7 million in 2024 and -$12 million in 2025, indicating a peak in 2023 and subsequent deterioration. These changes may be tied to the swings in cash flow hedges and foreign currency adjustments.
Comprehensive income
Comprehensive income largely mirrored net earnings, rising from $4,354 million in 2020 to a high of $8,542 million in 2022, then dropping to $6,780 million in 2023. There was a modest recovery to $7,719 million in 2024, followed by a decrease to $6,945 million in 2025. This pattern reflects the combined effect of net earnings and other comprehensive income components, showing overall variability in total profitability and comprehensive performance.