Price to Sales (P/S)
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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 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: 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.
- Share Price Trends
- The share price experienced initial growth from 26.91 in 2005 to a peak of 38.02 in 2013, followed by significant volatility with a notable peak at 109.91 in 2019. A sharp decline to 67.8 occurred in 2020, likely indicative of external disruptions. Subsequently, the share price recovered robustly, reaching an all-time high of 254 in 2024 before declining somewhat to 232.89 in 2025. Overall, the share price showed long-term growth with periods of pronounced fluctuation.
- Sales per Share
- Sales per share demonstrated a consistent upward trajectory from 23.54 in 2005 to a maximum of 162.75 in 2023. There is a slight decline in recent years to 150.96 in 2024 and 149.5 in 2025, suggesting a potential plateau or minor contraction. The overall trend in sales per share indicates persistent revenue growth and improving shareholder value over the majority of the period.
- Price-to-Sales Ratio (P/S)
- The P/S ratio started near parity at 1.14 in 2005, declining to a low of 0.56 in 2009. This decline could reflect a drop in market valuation relative to sales during that period. From 2010 onwards, the P/S ratio generally recovered, with fluctuations mainly around 1.0 to 1.3 until 2019. A dip to 0.71 in 2020 coincided with broader market volatility. Thereafter, the ratio increased sharply, peaking at 1.68 in 2024 and slightly decreasing to 1.56 in 2025. This pattern suggests varying investor sentiment over time, particularly the post-2020 surge reflecting market optimism or revaluation of sales prospects.
- Overall Insights
- The data reveals steady long-term growth in fundamental sales per share, indicating strengthening operational performance. Share price movements are more volatile, affected by market dynamics and external events, with large rebounds especially after 2020. The P/S ratio movements highlight changing market valuations, with temporary undervaluation post-2008 financial crisis and after 2020 disruptions, followed by revaluation periods. Recent minor declines in sales per share and share price suggest a need for monitoring potential emerging challenges. The general trajectory supports a narrative of growth tempered by cyclical and external pressures.
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 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: 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 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: 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 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: 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).