Stock Analysis on Net

Lowe’s Cos. Inc. (NYSE:LOW)

Analysis of Long-term (Investment) Activity Ratios 
Quarterly Data

Microsoft Excel

Long-term Activity Ratios (Summary)

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

Microsoft Excel
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 Feb 1, 2019 Nov 2, 2018 Aug 3, 2018 May 4, 2018 Feb 2, 2018 Nov 3, 2017 Aug 4, 2017 May 5, 2017
Net fixed asset turnover 5.15 5.37 5.50 5.53 5.55 5.10 5.05 5.05 5.03 4.97 4.95 4.68 4.57 4.32 4.00 3.86 3.91 3.94 3.95 3.87 3.76 3.68 3.54 3.48
Net fixed asset turnover (including operating lease, right-of-use asset) 4.26 4.43 4.58 4.60 4.62 4.17 4.15 4.15 4.12 4.14 4.11 3.90 3.79 3.59 3.31 3.20 3.23 3.24 3.25 3.87 3.76 3.68 3.54 3.48
Total asset turnover 2.12 2.09 2.09 2.22 2.04 2.04 1.92 2.16 1.93 1.92 1.84 1.92 1.68 1.55 1.62 1.83 1.80 1.76 1.66 2.07 1.94 1.90 1.81 1.94
Equity turnover 212.01 62.35 20.95 18.46 43.17 36.59 29.20 27.19 22.15 19.57 13.19 12.20 12.03 11.68

Based on: 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), 10-K (reporting date: 2019-02-01), 10-Q (reporting date: 2018-11-02), 10-Q (reporting date: 2018-08-03), 10-Q (reporting date: 2018-05-04), 10-K (reporting date: 2018-02-02), 10-Q (reporting date: 2017-11-03), 10-Q (reporting date: 2017-08-04), 10-Q (reporting date: 2017-05-05).

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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 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) deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Net Fixed Asset Turnover

Lowe’s Cos. Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
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 Feb 1, 2019 Nov 2, 2018 Aug 3, 2018 May 4, 2018 Feb 2, 2018 Nov 3, 2017 Aug 4, 2017 May 5, 2017
Selected Financial Data (US$ in millions)
Net sales 20,471 24,956 22,347 22,445 23,479 27,476 23,659 21,340 22,918 27,570 24,422 20,311 22,309 27,302 19,675 16,027 17,388 20,992 17,741 15,646 17,415 20,888 17,360 15,494 16,770 19,495 16,860
Property, less accumulated depreciation 17,527 17,373 17,402 17,567 17,275 18,713 18,890 19,071 18,925 19,031 19,059 19,155 18,683 18,612 18,501 18,669 18,371 18,203 18,150 18,432 18,923 19,172 19,500 19,721 19,818 19,762 19,748
Long-term Activity Ratio
Net fixed asset turnover1 5.15 5.37 5.50 5.53 5.55 5.10 5.05 5.05 5.03 4.97 4.95 4.68 4.57 4.32 4.00 3.86 3.91 3.94 3.95 3.87 3.76 3.68 3.54 3.48
Benchmarks
Net Fixed Asset Turnover, Competitors2
Amazon.com Inc. 2.82 2.82 2.78 2.75 2.75 2.83 2.80 2.84 2.93 3.11 3.32 3.45 3.41 3.48 3.72 3.81 3.86
Home Depot Inc. 5.97 5.98 6.07 6.14 6.23 6.15 6.06 6.00 5.92 5.83 5.73 5.35 5.27 5.10 4.94 4.84 4.94 4.91 4.92 4.84
TJX Cos. Inc. 8.36 8.31 8.53 8.63 8.84 9.21 9.43 9.21 8.84 8.46 7.46 6.38 6.67 6.61 7.08 7.83 7.74 7.94 7.88 7.42 7.51 7.40 7.32 7.16

Based on: 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), 10-K (reporting date: 2019-02-01), 10-Q (reporting date: 2018-11-02), 10-Q (reporting date: 2018-08-03), 10-Q (reporting date: 2018-05-04), 10-K (reporting date: 2018-02-02), 10-Q (reporting date: 2017-11-03), 10-Q (reporting date: 2017-08-04), 10-Q (reporting date: 2017-05-05).

1 Q3 2024 Calculation
Net fixed asset turnover = (Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023) ÷ Property, less accumulated depreciation
= (20,471 + 24,956 + 22,347 + 22,445) ÷ 17,527 = 5.15

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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 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 (quarterly data)

Microsoft Excel
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 Feb 1, 2019 Nov 2, 2018 Aug 3, 2018 May 4, 2018 Feb 2, 2018 Nov 3, 2017 Aug 4, 2017 May 5, 2017
Selected Financial Data (US$ in millions)
Net sales 20,471 24,956 22,347 22,445 23,479 27,476 23,659 21,340 22,918 27,570 24,422 20,311 22,309 27,302 19,675 16,027 17,388 20,992 17,741 15,646 17,415 20,888 17,360 15,494 16,770 19,495 16,860
 
Property, less accumulated depreciation 17,527 17,373 17,402 17,567 17,275 18,713 18,890 19,071 18,925 19,031 19,059 19,155 18,683 18,612 18,501 18,669 18,371 18,203 18,150 18,432 18,923 19,172 19,500 19,721 19,818 19,762 19,748
Operating lease right-of-use assets 3,647 3,650 3,504 3,518 3,512 4,158 4,131 4,108 4,161 3,820 3,886 3,832 3,823 3,798 3,876 3,891 3,873 3,967 3,926
Property, less accumulated depreciation (including operating lease, right-of-use asset) 21,174 21,023 20,906 21,085 20,787 22,871 23,021 23,179 23,086 22,851 22,945 22,987 22,506 22,410 22,377 22,560 22,244 22,170 22,076 18,432 18,923 19,172 19,500 19,721 19,818 19,762 19,748
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 4.26 4.43 4.58 4.60 4.62 4.17 4.15 4.15 4.12 4.14 4.11 3.90 3.79 3.59 3.31 3.20 3.23 3.24 3.25 3.87 3.76 3.68 3.54 3.48
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Amazon.com Inc. 2.08 2.07 2.04 2.03 2.03 2.10 2.09 2.13 2.17 2.30 2.51 2.61 2.56 2.59 2.80 2.85 2.87
Home Depot Inc. 4.69 4.69 4.78 4.83 4.95 4.95 4.90 4.85 4.79 4.70 4.63 4.31 4.29 4.14 3.96 3.89 3.95 3.90 3.93 4.84
TJX Cos. Inc. 3.36 3.29 3.34 3.36 3.38 3.45 3.47 3.44 3.19 3.02 2.66 2.29 2.38 2.38 2.58 2.90 2.84 2.86 2.86 7.42 7.51 7.40 7.32 7.16

Based on: 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), 10-K (reporting date: 2019-02-01), 10-Q (reporting date: 2018-11-02), 10-Q (reporting date: 2018-08-03), 10-Q (reporting date: 2018-05-04), 10-K (reporting date: 2018-02-02), 10-Q (reporting date: 2017-11-03), 10-Q (reporting date: 2017-08-04), 10-Q (reporting date: 2017-05-05).

1 Q3 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023) ÷ Property, less accumulated depreciation (including operating lease, right-of-use asset)
= (20,471 + 24,956 + 22,347 + 22,445) ÷ 21,174 = 4.26

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) deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Total Asset Turnover

Lowe’s Cos. Inc., total asset turnover calculation (quarterly data)

Microsoft Excel
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 Feb 1, 2019 Nov 2, 2018 Aug 3, 2018 May 4, 2018 Feb 2, 2018 Nov 3, 2017 Aug 4, 2017 May 5, 2017
Selected Financial Data (US$ in millions)
Net sales 20,471 24,956 22,347 22,445 23,479 27,476 23,659 21,340 22,918 27,570 24,422 20,311 22,309 27,302 19,675 16,027 17,388 20,992 17,741 15,646 17,415 20,888 17,360 15,494 16,770 19,495 16,860
Total assets 42,519 44,521 45,917 43,708 46,973 46,725 49,725 44,640 49,400 49,404 51,200 46,735 50,880 51,763 45,832 39,471 39,764 40,695 43,219 34,508 36,713 37,105 38,237 35,291 36,783 36,668 37,613
Long-term Activity Ratio
Total asset turnover1 2.12 2.09 2.09 2.22 2.04 2.04 1.92 2.16 1.93 1.92 1.84 1.92 1.68 1.55 1.62 1.83 1.80 1.76 1.66 2.07 1.94 1.90 1.81 1.94
Benchmarks
Total Asset Turnover, Competitors2
Amazon.com Inc. 1.09 1.14 1.13 1.13 1.11 1.17 1.16 1.16 1.12 1.20 1.23 1.30 1.20 1.23 1.25 1.34 1.25
Home Depot Inc. 2.03 2.03 2.04 2.06 2.05 2.05 1.99 2.10 2.02 2.04 1.95 1.87 1.88 1.88 1.91 2.15 2.12 2.12 2.13 2.46
TJX Cos. Inc. 1.72 1.77 1.75 1.76 1.73 1.83 1.80 1.71 1.52 1.50 1.25 1.04 1.06 1.27 1.45 1.73 1.67 1.75 1.76 2.72 2.58 2.67 2.63 2.55

Based on: 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), 10-K (reporting date: 2019-02-01), 10-Q (reporting date: 2018-11-02), 10-Q (reporting date: 2018-08-03), 10-Q (reporting date: 2018-05-04), 10-K (reporting date: 2018-02-02), 10-Q (reporting date: 2017-11-03), 10-Q (reporting date: 2017-08-04), 10-Q (reporting date: 2017-05-05).

1 Q3 2024 Calculation
Total asset turnover = (Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023) ÷ Total assets
= (20,471 + 24,956 + 22,347 + 22,445) ÷ 42,519 = 2.12

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Equity Turnover

Lowe’s Cos. Inc., equity turnover calculation (quarterly data)

Microsoft Excel
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 Feb 1, 2019 Nov 2, 2018 Aug 3, 2018 May 4, 2018 Feb 2, 2018 Nov 3, 2017 Aug 4, 2017 May 5, 2017
Selected Financial Data (US$ in millions)
Net sales 20,471 24,956 22,347 22,445 23,479 27,476 23,659 21,340 22,918 27,570 24,422 20,311 22,309 27,302 19,675 16,027 17,388 20,992 17,741 15,646 17,415 20,888 17,360 15,494 16,770 19,495 16,860
Shareholders’ equity (deficit) (15,147) (14,732) (14,710) (14,254) (12,868) (8,442) (6,877) (4,816) (1,576) (175) 445 1,437 4,073 4,356 1,716 1,972 2,458 2,640 3,236 3,644 5,394 5,781 5,745 5,873 5,742 5,536 5,531
Long-term Activity Ratio
Equity turnover1 212.01 62.35 20.95 18.46 43.17 36.59 29.20 27.19 22.15 19.57 13.19 12.20 12.03 11.68
Benchmarks
Equity Turnover, Competitors2
Amazon.com Inc. 2.85 3.03 3.19 3.40 3.52 3.65 3.70 3.57 3.40 3.80 3.86 4.06 4.13 4.20 4.36 4.54 4.52
Home Depot Inc. 107.49 116.01 430.25 100.77 121.18 655.02 142.70 69.80 80.86 40.05 81.84
TJX Cos. Inc. 7.66 7.75 7.83 7.85 8.70 9.20 8.91 8.09 7.08 6.75 6.16 5.51 6.00 7.24 7.78 7.01 7.33 7.55 7.71 7.72 7.38 7.22 6.99 6.97

Based on: 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), 10-K (reporting date: 2019-02-01), 10-Q (reporting date: 2018-11-02), 10-Q (reporting date: 2018-08-03), 10-Q (reporting date: 2018-05-04), 10-K (reporting date: 2018-02-02), 10-Q (reporting date: 2017-11-03), 10-Q (reporting date: 2017-08-04), 10-Q (reporting date: 2017-05-05).

1 Q3 2024 Calculation
Equity turnover = (Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023) ÷ Shareholders’ equity (deficit)
= (20,471 + 24,956 + 22,347 + 22,445) ÷ -15,147 =

2 Click competitor name to see calculations.