Lowe's Companies (LOW) FY2012 results: revenue $50.5 billion, up 0.6% on the year
Lowe's Companies Inc. (LOW) reported revenue of $50.5 billion for fiscal 2012, the year ended 1 February 2013, up 0.6% on the year before. Net income was $2.0 billion, up 6.5%, and diluted earnings per share $1.69. The figures are the company's own, from the 10-K it filed with the SEC on 2 April 2013.
Revenue
$50.5 billion
+0.6% on the year
FY2007FY2012
Operating margin
6.2%
5.8% a year earlier
FY2007FY2012
Net income
$2.0 billion
+6.5% on the year
FY2007FY2012
Diluted EPS
$1.69
+18.2% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
50,521
50,208
48,815
+0.6%
Cost of revenue
33,194
32,858
31,663
+1.0%
Gross profit
17,327
17,350
17,152
-0.1%
Gross margin
34.3%
34.6%
35.1%
Selling, general and administrative
12,244
12,593
12,006
-2.8%
Operating income
3,137
2,906
3,228
+7.9%
Operating margin
6.2%
5.8%
6.6%
Interest expense
n/a
n/a
332
Pre-tax income
3,137
2,906
3,228
+7.9%
Income tax
1,178
1,067
1,218
+10.4%
Effective tax rate
37.6%
36.7%
37.7%
Net income
1,959
1,839
2,010
+6.5%
Net margin
3.9%
3.7%
4.1%
Diluted EPS
$1.69
$1.43
$1.42
+18.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
3,762
4,349
3,852
-13.5%
Capital expenditure
1,211
1,829
1,329
-33.8%
Free cash flow
2,551
2,520
2,523
+1.2%
Free cash flow margin
5.0%
5.0%
5.2%
Cash from investing
-903
-1,437
-2,184
Cash from financing
-3,333
-2,549
-1,651
Depreciation and amortisation
1,623
1,579
1,684
+2.8%
Share-based compensation
100
107
115
-6.5%
Buybacks
4,393
2,937
2,618
+49.6%
Dividends paid
704
647
571
+8.8%
Dividend per share
$0.62
$0.53
$0.42
+17.0%
Diluted shares, weighted
1,152m
1,273m
1,403m
-9.5%
Shares outstanding at period end
1,110m
1,241m
1,354m
-10.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
13,857
16,533
18,112
-16.2%
Debt
9,077
7,627
6,573
+19.0%
Other liabilities
9,732
9,399
9,014
+3.5%
Total liabilities and equity
32,666
33,559
33,699
-2.7%
Fixed assets
21,477
21,970
22,089
-2.2%
Investments
396
790
1,479
-49.9%
Cash and equivalents
541
1,014
652
-46.6%
Inventory
8,600
8,355
8,321
+2.9%
Other assets
1,652
1,430
1,158
+15.5%
Total assets
32,666
33,559
33,699
-2.7%
10-K for the year ended 1 February 2013, filed 2 April 2013: the filing.