Price to Sales (P/S)
since 2005
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Lowe’s Cos. Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Analysis of Revenues
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Calculation
Lowe’s Cos. Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 23, 2026 | = | ÷ | = | ÷ | |||||||
| Mar 24, 2025 | = | ÷ | = | ÷ | |||||||
| Mar 25, 2024 | = | ÷ | = | ÷ | |||||||
| Mar 27, 2023 | = | ÷ | = | ÷ | |||||||
| Mar 21, 2022 | = | ÷ | = | ÷ | |||||||
| Mar 22, 2021 | = | ÷ | = | ÷ | |||||||
| Mar 23, 2020 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2019 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2018 | = | ÷ | = | ÷ | |||||||
| Apr 4, 2017 | = | ÷ | = | ÷ | |||||||
| Mar 29, 2016 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2015 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2014 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2013 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2012 | = | ÷ | = | ÷ | |||||||
| Mar 29, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 30, 2010 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2009 | = | ÷ | = | ÷ | |||||||
| Apr 1, 2008 | = | ÷ | = | ÷ | |||||||
| Apr 3, 2007 | = | ÷ | = | ÷ | |||||||
| Apr 7, 2006 | = | ÷ | = | ÷ | |||||||
| Apr 13, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2026-01-30), 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), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03), 10-K (reporting date: 2016-01-29), 10-K (reporting date: 2015-01-30), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-02-01), 10-K (reporting date: 2012-02-03), 10-K (reporting date: 2011-01-28), 10-K (reporting date: 2010-01-29), 10-K (reporting date: 2009-01-30), 10-K (reporting date: 2008-02-01), 10-K (reporting date: 2007-02-02), 10-K (reporting date: 2006-02-03), 10-K (reporting date: 2005-01-28).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Lowe’s Cos. Inc. Annual Report.
The price-to-sales (P/S) ratio for the period examined exhibits considerable fluctuation. Initially, the ratio demonstrates relative stability between 2005 and 2007, hovering around 1.1. A significant decline is then observed through 2009, reaching a low of 0.56. Subsequent recovery occurs between 2009 and 2015, with the ratio peaking at 1.26 in 2015.
Following 2015, the P/S ratio experiences another period of volatility. A decrease is noted in 2016, followed by a substantial increase in 2019 to 1.23. The onset of 2020 sees a sharp drop to 0.71, likely influenced by external economic factors. A strong rebound then occurs in 2020 and 2021, reaching a high of 1.56. The most recent years, 2022 through 2026, show a more moderate pattern, with the ratio fluctuating between 1.17 and 1.68, and ending at 1.52.
- Overall Trend
- The P/S ratio does not demonstrate a consistent long-term trend. Instead, it cycles through periods of increase, decrease, and relative stability. This suggests the market’s valuation of the company’s sales has been subject to considerable shifts over the analyzed timeframe.
- Periods of Significant Change
- The period between 2007 and 2009 represents a notable decline in the P/S ratio. Similarly, the years 2020 and 2021 show a dramatic shift, with a substantial decrease followed by a significant increase. These periods warrant further investigation to understand the underlying drivers of these changes.
- Recent Performance
- From 2022 to 2026, the P/S ratio has remained relatively stable, fluctuating within a narrower range compared to earlier periods. This could indicate a period of more predictable market valuation or a stabilization of the company’s sales performance relative to its share price.
The share price and sales per share both generally increased over the period, but the P/S ratio’s fluctuations indicate that investor sentiment and market conditions have played a significant role in determining the company’s valuation relative to its revenue.
Comparison to Competitors
Lowe’s Cos. Inc., P/S, long-term trends, comparison to competitors
| Lowe’s Cos. Inc. | Amazon.com Inc. | Home Depot Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|
| Mar 23, 2026 | ||||
| Mar 24, 2025 | ||||
| Mar 25, 2024 | ||||
| Mar 27, 2023 | ||||
| Mar 21, 2022 | ||||
| Mar 22, 2021 | ||||
| Mar 23, 2020 | ||||
| Apr 2, 2019 | ||||
| Apr 2, 2018 | ||||
| Apr 4, 2017 | ||||
| Mar 29, 2016 | ||||
| Mar 31, 2015 | ||||
| Mar 31, 2014 | ||||
| Apr 2, 2013 | ||||
| Apr 2, 2012 | ||||
| Mar 29, 2011 | ||||
| Mar 30, 2010 | ||||
| Mar 31, 2009 | ||||
| Apr 1, 2008 | ||||
| Apr 3, 2007 | ||||
| Apr 7, 2006 | ||||
| Apr 13, 2005 |
Based on: 10-K (reporting date: 2026-01-30), 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), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03), 10-K (reporting date: 2016-01-29), 10-K (reporting date: 2015-01-30), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-02-01), 10-K (reporting date: 2012-02-03), 10-K (reporting date: 2011-01-28), 10-K (reporting date: 2010-01-29), 10-K (reporting date: 2009-01-30), 10-K (reporting date: 2008-02-01), 10-K (reporting date: 2007-02-02), 10-K (reporting date: 2006-02-03), 10-K (reporting date: 2005-01-28).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
Lowe’s Cos. Inc., P/S, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Lowe’s Cos. Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Mar 23, 2026 | ||
| Mar 24, 2025 | ||
| Mar 25, 2024 | ||
| Mar 27, 2023 | ||
| Mar 21, 2022 | ||
| Mar 22, 2021 | ||
| Mar 23, 2020 | ||
| Apr 2, 2019 | ||
| Apr 2, 2018 | ||
| Apr 4, 2017 | ||
| Mar 29, 2016 | ||
| Mar 31, 2015 | ||
| Mar 31, 2014 | ||
| Apr 2, 2013 | ||
| Apr 2, 2012 | ||
| Mar 29, 2011 | ||
| Mar 30, 2010 | ||
| Mar 31, 2009 | ||
| Apr 1, 2008 | ||
| Apr 3, 2007 | ||
| Apr 7, 2006 | ||
| Apr 13, 2005 |
Based on: 10-K (reporting date: 2026-01-30), 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), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03), 10-K (reporting date: 2016-01-29), 10-K (reporting date: 2015-01-30), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-02-01), 10-K (reporting date: 2012-02-03), 10-K (reporting date: 2011-01-28), 10-K (reporting date: 2010-01-29), 10-K (reporting date: 2009-01-30), 10-K (reporting date: 2008-02-01), 10-K (reporting date: 2007-02-02), 10-K (reporting date: 2006-02-03), 10-K (reporting date: 2005-01-28).
Comparison to Industry (Consumer Discretionary)
Lowe’s Cos. Inc., P/S, long-term trends, comparison to industry (consumer discretionary)
| Lowe’s Cos. Inc. | Consumer Discretionary | |
|---|---|---|
| Mar 23, 2026 | ||
| Mar 24, 2025 | ||
| Mar 25, 2024 | ||
| Mar 27, 2023 | ||
| Mar 21, 2022 | ||
| Mar 22, 2021 | ||
| Mar 23, 2020 | ||
| Apr 2, 2019 | ||
| Apr 2, 2018 | ||
| Apr 4, 2017 | ||
| Mar 29, 2016 | ||
| Mar 31, 2015 | ||
| Mar 31, 2014 | ||
| Apr 2, 2013 | ||
| Apr 2, 2012 | ||
| Mar 29, 2011 | ||
| Mar 30, 2010 | ||
| Mar 31, 2009 | ||
| Apr 1, 2008 | ||
| Apr 3, 2007 | ||
| Apr 7, 2006 | ||
| Apr 13, 2005 |
Based on: 10-K (reporting date: 2026-01-30), 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), 10-K (reporting date: 2019-02-01), 10-K (reporting date: 2018-02-02), 10-K (reporting date: 2017-02-03), 10-K (reporting date: 2016-01-29), 10-K (reporting date: 2015-01-30), 10-K (reporting date: 2014-01-31), 10-K (reporting date: 2013-02-01), 10-K (reporting date: 2012-02-03), 10-K (reporting date: 2011-01-28), 10-K (reporting date: 2010-01-29), 10-K (reporting date: 2009-01-30), 10-K (reporting date: 2008-02-01), 10-K (reporting date: 2007-02-02), 10-K (reporting date: 2006-02-03), 10-K (reporting date: 2005-01-28).