Return on Assets (ROA)
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., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net earnings1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Jan 30, 2026 | = | 100 | × | ÷ | |||
| Jan 31, 2025 | = | 100 | × | ÷ | |||
| Feb 2, 2024 | = | 100 | × | ÷ | |||
| Feb 3, 2023 | = | 100 | × | ÷ | |||
| Jan 28, 2022 | = | 100 | × | ÷ | |||
| Jan 29, 2021 | = | 100 | × | ÷ | |||
| Jan 31, 2020 | = | 100 | × | ÷ | |||
| Feb 1, 2019 | = | 100 | × | ÷ | |||
| Feb 2, 2018 | = | 100 | × | ÷ | |||
| Feb 3, 2017 | = | 100 | × | ÷ | |||
| Jan 29, 2016 | = | 100 | × | ÷ | |||
| Jan 30, 2015 | = | 100 | × | ÷ | |||
| Jan 31, 2014 | = | 100 | × | ÷ | |||
| Feb 1, 2013 | = | 100 | × | ÷ | |||
| Feb 3, 2012 | = | 100 | × | ÷ | |||
| Jan 28, 2011 | = | 100 | × | ÷ | |||
| Jan 29, 2010 | = | 100 | × | ÷ | |||
| Jan 30, 2009 | = | 100 | × | ÷ | |||
| Feb 1, 2008 | = | 100 | × | ÷ | |||
| Feb 2, 2007 | = | 100 | × | ÷ | |||
| Feb 3, 2006 | = | 100 | × | ÷ | |||
| Jan 28, 2005 | = | 100 | × | ÷ |
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$ in millions
The Return on Assets (ROA) for the period examined demonstrates considerable fluctuation, generally trending upward over the long term, but with notable periods of decline. Initial values indicate a strong and relatively stable ROA, followed by a period of increased volatility and ultimately, a significant surge in recent years.
- Initial Period (2005-2009)
- From 2005 to 2009, the ROA exhibited a generally positive trend, beginning at 10.26% and peaking at 11.23% in 2006, before settling to 6.72% in 2009. This period reflects a period of growth, followed by a substantial decrease in profitability relative to assets, likely influenced by broader economic conditions. The decline in 2008 and 2009 is particularly pronounced.
- Stabilization and Moderate Growth (2010-2015)
- Between 2010 and 2015, the ROA experienced a period of stabilization and moderate growth. It rose from 5.40% in 2010 to 8.48% in 2015, with fluctuations occurring within this timeframe. This suggests a recovery and improved efficiency in asset utilization during this period. The increase in net earnings appears to be the primary driver of this improvement.
- Recent Surge (2016-2024)
- From 2016 onwards, the ROA demonstrated a significant upward trend. It increased from 8.99% in 2016 to a peak of 18.91% in 2021. While decreasing slightly to 16.14% in 2023, it remains substantially higher than values observed in the earlier part of the examined period. This substantial increase is correlated with a significant rise in net earnings, outpacing the growth in total assets. The most recent value in 2024 shows a further decrease to 12.29%, indicating a potential shift in this trend.
- Relationship to Net Earnings and Total Assets
- The ROA’s movements are directly linked to changes in both net earnings and total assets. Periods of increasing ROA generally coincide with increases in net earnings, while periods of decline often reflect either decreasing net earnings or faster growth in total assets. The substantial ROA increase from 2016-2021 is largely attributable to the rapid growth in net earnings, which significantly outpaced the increase in total assets.
Overall, the ROA demonstrates a pattern of cyclicality and long-term growth. While the company experienced a period of reduced profitability relative to its assets in the late 2000s, it has since demonstrated a strong ability to generate earnings from its asset base, particularly in recent years. The recent decline in ROA from its peak in 2021 warrants further investigation to determine if this represents a temporary fluctuation or the beginning of a new trend.
Comparison to Competitors
Lowe’s Cos. Inc., ROA, long-term trends, comparison to competitors
| Lowe’s Cos. Inc. | Amazon.com Inc. | Home Depot Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|
| Jan 30, 2026 | ||||
| Jan 31, 2025 | ||||
| Feb 2, 2024 | ||||
| Feb 3, 2023 | ||||
| Jan 28, 2022 | ||||
| Jan 29, 2021 | ||||
| Jan 31, 2020 | ||||
| Feb 1, 2019 | ||||
| Feb 2, 2018 | ||||
| Feb 3, 2017 | ||||
| Jan 29, 2016 | ||||
| Jan 30, 2015 | ||||
| Jan 31, 2014 | ||||
| Feb 1, 2013 | ||||
| Feb 3, 2012 | ||||
| Jan 28, 2011 | ||||
| Jan 29, 2010 | ||||
| Jan 30, 2009 | ||||
| Feb 1, 2008 | ||||
| Feb 2, 2007 | ||||
| Feb 3, 2006 | ||||
| Jan 28, 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., ROA, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Lowe’s Cos. Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Jan 30, 2026 | ||
| Jan 31, 2025 | ||
| Feb 2, 2024 | ||
| Feb 3, 2023 | ||
| Jan 28, 2022 | ||
| Jan 29, 2021 | ||
| Jan 31, 2020 | ||
| Feb 1, 2019 | ||
| Feb 2, 2018 | ||
| Feb 3, 2017 | ||
| Jan 29, 2016 | ||
| Jan 30, 2015 | ||
| Jan 31, 2014 | ||
| Feb 1, 2013 | ||
| Feb 3, 2012 | ||
| Jan 28, 2011 | ||
| Jan 29, 2010 | ||
| Jan 30, 2009 | ||
| Feb 1, 2008 | ||
| Feb 2, 2007 | ||
| Feb 3, 2006 | ||
| Jan 28, 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., ROA, long-term trends, comparison to industry (consumer discretionary)
| Lowe’s Cos. Inc. | Consumer Discretionary | |
|---|---|---|
| Jan 30, 2026 | ||
| Jan 31, 2025 | ||
| Feb 2, 2024 | ||
| Feb 3, 2023 | ||
| Jan 28, 2022 | ||
| Jan 29, 2021 | ||
| Jan 31, 2020 | ||
| Feb 1, 2019 | ||
| Feb 2, 2018 | ||
| Feb 3, 2017 | ||
| Jan 29, 2016 | ||
| Jan 30, 2015 | ||
| Jan 31, 2014 | ||
| Feb 1, 2013 | ||
| Feb 3, 2012 | ||
| Jan 28, 2011 | ||
| Jan 29, 2010 | ||
| Jan 30, 2009 | ||
| Feb 1, 2008 | ||
| Feb 2, 2007 | ||
| Feb 3, 2006 | ||
| Jan 28, 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).