Stock Analysis on Net

Lowe’s Cos. Inc. (NYSE:LOW)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Lowe’s Cos. Inc., long-term (investment) activity ratios

Microsoft Excel
Feb 2, 2024 Feb 3, 2023 Jan 28, 2022 Jan 29, 2021 Jan 31, 2020 Feb 1, 2019
Net fixed asset turnover 4.89 5.53 5.05 4.68 3.86 3.87
Net fixed asset turnover (including operating lease, right-of-use asset) 4.04 4.60 4.15 3.90 3.20 3.87
Total asset turnover 2.07 2.22 2.16 1.92 1.83 2.07
Equity turnover 62.35 36.59 19.57

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Lowe’s Cos. Inc. net fixed asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Lowe’s Cos. Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Lowe’s Cos. Inc. total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Net Fixed Asset Turnover

Lowe’s Cos. Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Feb 2, 2024 Feb 3, 2023 Jan 28, 2022 Jan 29, 2021 Jan 31, 2020 Feb 1, 2019
Selected Financial Data (US$ in millions)
Net sales 86,377 97,059 96,250 89,597 72,148 71,309
Property, less accumulated depreciation 17,653 17,567 19,071 19,155 18,669 18,432
Long-term Activity Ratio
Net fixed asset turnover1 4.89 5.53 5.05 4.68 3.86 3.87
Benchmarks
Net Fixed Asset Turnover, Competitors2
Amazon.com Inc. 2.82 2.75 2.93 3.41 3.86
Home Depot Inc. 5.84 6.14 6.00 5.35 4.84 4.84
TJX Cos. Inc. 8.25 8.63 9.21 6.38 7.83 7.42
Net Fixed Asset Turnover, Sector
Consumer Discretionary Distribution & Retail 3.47 3.43 3.46 3.82 4.20
Net Fixed Asset Turnover, Industry
Consumer Discretionary 3.50 3.47 3.31 3.37 3.71

Based on: 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).

1 2024 Calculation
Net fixed asset turnover = Net sales ÷ Property, less accumulated depreciation
= 86,377 ÷ 17,653 = 4.89

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Lowe’s Cos. Inc. net fixed asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Lowe’s Cos. Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Feb 2, 2024 Feb 3, 2023 Jan 28, 2022 Jan 29, 2021 Jan 31, 2020 Feb 1, 2019
Selected Financial Data (US$ in millions)
Net sales 86,377 97,059 96,250 89,597 72,148 71,309
 
Property, less accumulated depreciation 17,653 17,567 19,071 19,155 18,669 18,432
Operating lease right-of-use assets 3,733 3,518 4,108 3,832 3,891
Property, less accumulated depreciation (including operating lease, right-of-use asset) 21,386 21,085 23,179 22,987 22,560 18,432
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 4.04 4.60 4.15 3.90 3.20 3.87
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Amazon.com Inc. 2.08 2.03 2.17 2.56 2.87
Home Depot Inc. 4.49 4.83 4.85 4.31 3.89 4.84
TJX Cos. Inc. 3.40 3.36 3.44 2.29 2.90 7.42
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Consumer Discretionary Distribution & Retail 2.55 2.52 2.55 2.83 3.47
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Discretionary 2.68 2.66 2.51 2.57 3.13

Based on: 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).

1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, less accumulated depreciation (including operating lease, right-of-use asset)
= 86,377 ÷ 21,386 = 4.04

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Lowe’s Cos. Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Total Asset Turnover

Lowe’s Cos. Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Feb 2, 2024 Feb 3, 2023 Jan 28, 2022 Jan 29, 2021 Jan 31, 2020 Feb 1, 2019
Selected Financial Data (US$ in millions)
Net sales 86,377 97,059 96,250 89,597 72,148 71,309
Total assets 41,795 43,708 44,640 46,735 39,471 34,508
Long-term Activity Ratio
Total asset turnover1 2.07 2.22 2.16 1.92 1.83 2.07
Benchmarks
Total Asset Turnover, Competitors2
Amazon.com Inc. 1.09 1.11 1.12 1.20 1.25
Home Depot Inc. 1.99 2.06 2.10 1.87 2.15 2.46
TJX Cos. Inc. 1.82 1.76 1.71 1.04 1.73 2.72
Total Asset Turnover, Sector
Consumer Discretionary Distribution & Retail 1.30 1.33 1.27 1.40 1.57
Total Asset Turnover, Industry
Consumer Discretionary 0.97 0.96 0.88 0.84 0.94

Based on: 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).

1 2024 Calculation
Total asset turnover = Net sales ÷ Total assets
= 86,377 ÷ 41,795 = 2.07

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Lowe’s Cos. Inc. total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Equity Turnover

Lowe’s Cos. Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Feb 2, 2024 Feb 3, 2023 Jan 28, 2022 Jan 29, 2021 Jan 31, 2020 Feb 1, 2019
Selected Financial Data (US$ in millions)
Net sales 86,377 97,059 96,250 89,597 72,148 71,309
Shareholders’ equity (deficit) (15,050) (14,254) (4,816) 1,437 1,972 3,644
Long-term Activity Ratio
Equity turnover1 62.35 36.59 19.57
Benchmarks
Equity Turnover, Competitors2
Amazon.com Inc. 2.85 3.52 3.40 4.13 4.52
Home Depot Inc. 146.23 100.77 40.05
TJX Cos. Inc. 7.42 7.85 8.09 5.51 7.01 7.72
Equity Turnover, Sector
Consumer Discretionary Distribution & Retail 4.50 5.57 4.86 6.21 7.25
Equity Turnover, Industry
Consumer Discretionary 3.86 4.21 3.74 4.82 5.84

Based on: 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).

1 2024 Calculation
Equity turnover = Net sales ÷ Shareholders’ equity (deficit)
= 86,377 ÷ -15,050 =

2 Click competitor name to see calculations.