Liquidity ratios measure the company ability to meet its short-term obligations.
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Liquidity Ratios (Summary)
Based on: 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).
- Current Ratio
- The current ratio exhibited moderate fluctuations over the period under review, ranging from a low of approximately 1.01 to a high near 1.38. Initially, the ratio showed a gradual decline from 1.09 to 1.01 amid 2019 and early 2020, indicating a modest decrease in short-term liquidity. Subsequently, a notable improvement was observed during mid to late 2020, peaking at 1.38, suggesting strengthened current asset coverage relative to current liabilities during that interval. Following this peak, the ratio experienced some variability but remained predominantly above 1.0, consistently indicating adequate short-term financial health. A slight downward trend appeared towards the latter part of the timeline, with values descending close to 1.01 by early 2025, implying a marginal reduction in liquidity but still maintaining coverage above unity.
- Quick Ratio
- The quick ratio demonstrated considerable volatility, with values spanning from a low of 0.06 to a peak of 0.60. During the first half of the analyzed period, the ratio remained relatively suppressed, often below 0.20, highlighting limited immediate liquidity when inventories are excluded. The ratio however showed a significant uptick in mid-2020, nearly tripling to 0.60, indicating an improvement in liquid assets relative to current liabilities. This surge was transient, as subsequent periods saw a decline back to levels below 0.20, reflecting a recurring constraint in liquid asset availability over short-term obligations. Several intermittent increases and declines occurred through 2023 and 2024, reinforcing a pattern of fluctuating but overall low quick liquidity.
- Cash Ratio
- Trends in the cash ratio closely mirrored those of the quick ratio, confirming the limited buffer available purely in cash and cash equivalents. The ratio remained low throughout the timeframe, fluctuating between 0.06 and 0.60, with temporary enhancements in mid-2020, indicative of elevated cash reserves during that quarter. Following this peak, the ratio generally reverted to lower levels, consistent with a tight cash position relative to current liabilities. The similarity between the quick and cash ratios suggests minimal difference between immediately liquid assets and cash holdings, pointing to a limited presence of near-cash assets.
- Overall Liquidity Analysis
- Overall, the company maintained a reasonably stable current ratio above 1.0, reflecting sound management of current assets and liabilities and an ability to meet short-term obligations. However, the lower and more volatile quick and cash ratios raise some concerns about the immediacy of liquidity, with reliance potentially placed on inventories or less liquid components of current assets. The notable improvements in mid-2020 across all liquidity measures may correspond to specific operational or strategic actions taken during that period, but these gains were not sustained. Continuous monitoring of cash and quick ratios is advised to ensure sufficient liquid resources remain available to contend with immediate financial demands.
Current Ratio
May 2, 2025 | Jan 31, 2025 | Nov 1, 2024 | Aug 2, 2024 | May 3, 2024 | Feb 2, 2024 | Nov 3, 2023 | Aug 4, 2023 | May 5, 2023 | Feb 3, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 30, 2020 | Jul 31, 2020 | May 1, 2020 | Jan 31, 2020 | Nov 1, 2019 | Aug 2, 2019 | May 3, 2019 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||
Current ratio1 | |||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||
Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
Amazon.com Inc. | |||||||||||||||||||||||||||||||||
Home Depot Inc. | |||||||||||||||||||||||||||||||||
TJX Cos. Inc. |
Based on: 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).
1 Q1 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Current Assets
- The current assets exhibit a fluctuating pattern over the analyzed period. Initially, there is a downward trend from May 2019 (19,335 million USD) to around January 2020 (15,318 million USD). Subsequently, current assets increase significantly, peaking at 27,717 million USD in July 2020. After this peak, the figures decline and oscillate, with intermittent rises and falls. Notable increases occur again around April 2021 (26,816 million USD) and April 2022 (25,611 million USD). More recently, from early 2023 onward, there is a general downward trend, with some minor rebounds, ending at 22,675 million USD in May 2025.
- Current Liabilities
- Current liabilities follow a somewhat parallel but less volatile trajectory compared to current assets. Starting at 17,781 million USD in May 2019, they generally increase until mid-2020, reaching 21,370 million USD in July 2020. After this period, liabilities maintain elevated levels with some fluctuations but do not return to earlier lower values. Notable points include a peak in April 2021 at 22,892 million USD and a later peak in May 2025 at 22,388 million USD. The overall pattern suggests moderately rising obligations over the analyzed timeframe.
- Current Ratio
- The current ratio reflects the relationship between current assets and current liabilities, and it exhibits modest variability throughout the periods. Initially close to parity at around 1.09 in May 2019, the ratio dips to a low of 1.01 in January 2020, indicating a tight liquidity position at that point. Subsequently, it improves, reaching a peak of 1.38 in October 2020, signaling enhanced short-term financial strength. The ratio remains mostly above 1.10 thereafter, with some fluctuations, gradually declining to near 1.01 again by May 2025. This suggests the company's liquidity improved during 2020 but experienced some weakening in recent periods, though it has generally stayed above the critical threshold of 1.0.
- Overall Trend Analysis
- The data reveals that both current assets and current liabilities increased notably during the calendar year 2020, with current assets showing a sharper rise, resulting in an improved current ratio and a stronger liquidity position during that period. Post-2020, current assets experienced a degree of volatility with intermittent recovery phases, while current liabilities remained relatively elevated, which contributed to a gradually declining current ratio in the most recent years. The current ratio's fluctuation near the 1.0 mark suggests that while liquidity has been generally adequate, it has faced some pressure in later periods, warranting close monitoring to ensure sufficient short-term financial stability.
Quick Ratio
May 2, 2025 | Jan 31, 2025 | Nov 1, 2024 | Aug 2, 2024 | May 3, 2024 | Feb 2, 2024 | Nov 3, 2023 | Aug 4, 2023 | May 5, 2023 | Feb 3, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 30, 2020 | Jul 31, 2020 | May 1, 2020 | Jan 31, 2020 | Nov 1, 2019 | Aug 2, 2019 | May 3, 2019 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||||||
Short-term investments | |||||||||||||||||||||||||||||||||
Total quick assets | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||
Quick ratio1 | |||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||
Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
Amazon.com Inc. | |||||||||||||||||||||||||||||||||
Home Depot Inc. | |||||||||||||||||||||||||||||||||
TJX Cos. Inc. |
Based on: 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).
1 Q1 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Quick Assets
- The total quick assets exhibit significant volatility throughout the periods analyzed. Starting at 3,163 million USD in May 2019, the value declines sharply to 921 million USD by November 2019 and remains relatively low through early 2020. A notable surge occurs in May 2020, with quick assets rising sharply to 6,156 million USD, peaking in July 2020 at 12,726 million USD, followed by a gradual decline and fluctuations thereafter. Subsequent periods show alternating increases and decreases, with values spanning from as low as 1,404 million USD in January 2022 to peaks near 4,690 million USD in August 2024, indicating irregular asset liquidity availability over time.
- Current Liabilities
- Current liabilities display a pattern of fluctuations but with an overall moderate range. Initial levels are 17,781 million USD in May 2019, dipping to around 15,063 million USD by November 2019, then climbing to a peak of 22,892 million USD in April 2021. Afterward, liabilities show variable repayment and re-accumulation trends, with values generally oscillating between approximately 15,568 million USD and 22,388 million USD until May 2025. This suggests ongoing active management of short-term obligations without a clear long-term increasing or decreasing trend.
- Quick Ratio
- The quick ratio remains consistently low throughout the reviewed timeframe, indicating limited liquidity in relation to current liabilities. Starting at 0.18 in May 2019, the ratio decreases sharply to 0.06 by November 2019 and early 2020, rises to a moderate high of 0.6 in July 2020, then descends again. Following July 2020, the ratio hovers mostly below 0.3, with brief improvements but no sustained upward movement. The pattern reflects constrained liquid asset coverage relative to short-term liabilities, despite intermittent gains in quick assets.
- Summary of Trends and Insights
- The data reveals abrupt surges in quick assets mid-2020 likely related to temporary liquidity inflows, possibly from operational changes or financing activities. However, these surges did not translate into sustained liquidity improvements relative to liabilities, as the quick ratio remains low. Current liabilities show cyclical variations rather than a clear directional trend, implying ongoing short-term financial obligations with active management but no significant deleveraging. The persistently low quick ratio highlights potential liquidity risk or reliance on less liquid current assets. Overall, the firm's short-term liquidity profile appears volatile with intermittent improvements insufficient to establish consistent financial cushion against liabilities.
Cash Ratio
May 2, 2025 | Jan 31, 2025 | Nov 1, 2024 | Aug 2, 2024 | May 3, 2024 | Feb 2, 2024 | Nov 3, 2023 | Aug 4, 2023 | May 5, 2023 | Feb 3, 2023 | Oct 28, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 29, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 30, 2020 | Jul 31, 2020 | May 1, 2020 | Jan 31, 2020 | Nov 1, 2019 | Aug 2, 2019 | May 3, 2019 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||||||
Short-term investments | |||||||||||||||||||||||||||||||||
Total cash assets | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||
Cash ratio1 | |||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||
Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
Amazon.com Inc. | |||||||||||||||||||||||||||||||||
Home Depot Inc. | |||||||||||||||||||||||||||||||||
TJX Cos. Inc. |
Based on: 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).
1 Q1 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The financial data reveals notable fluctuations in the company's liquidity and short-term obligations over the analyzed periods. The total cash assets show considerable volatility, with initial values near $3,163 million dropping to a low of $876 million by early 2020, followed by a sharp increase reaching a peak of approximately $12,726 million in mid-2020. Subsequently, cash levels demonstrate an overall declining trend with intermittent recoveries, falling below $2,000 million in certain quarters before slightly rebounding toward the end of the dataset.
Current liabilities exhibit an overall upward trend at the beginning, increasing from around $17,781 million to a peak exceeding $21,370 million in mid-2020. After this peak, the liabilities experience moderate fluctuations but generally remain elevated, oscillating between approximately $15,568 million and $23,388 million over subsequent periods. The highest recorded level towards the end of the series indicates increased short-term obligations.
The cash ratio, which measures the company's ability to cover current liabilities with cash and cash equivalents, reflects these shifts clearly. It starts relatively low but stable, hovering between 0.06 and 0.18 in the initial periods. There is a marked improvement during mid-2020, peaking near 0.60, correlating with the surge in cash assets. Nevertheless, this improvement appears temporary, as the ratio declines markedly afterward, mostly staying below 0.20, with occasional minor increases but no sustained recovery to earlier highs.
Overall, the data points to periods of heightened liquidity in mid-2020 followed by diminished cash reserves relative to current liabilities in subsequent quarters. The company's liquidity position appears strained at times, as suggested by the generally low cash ratio. This indicates a potential reliance on other forms of current assets or external financing to meet short-term obligations. The sharp rise and subsequent decline in cash assets and liquidity ratios suggest episodic financial strategy shifts or responses to external market conditions during the reporting periods.
- Total Cash Assets
- Displayed substantial variability, peaking mid-2020 and trending downward afterward with intermittent recoveries.
- Current Liabilities
- Increased initially with a peak in mid-2020, then remained elevated but somewhat stable, suggesting higher short-term debt levels through most periods.
- Cash Ratio
- Improved significantly in mid-2020 coinciding with cash asset peaks but subsequently declined, remaining generally below 0.20, indicative of limited immediate liquidity coverage of liabilities.