Lowe's Companies (LOW) FY2013 results: revenue $53.4 billion, up 5.7% on the year
Lowe's Companies Inc. (LOW) reported revenue of $53.4 billion for fiscal 2013, the year ended 31 January 2014, up 5.7% on the year before. Net income was $2.3 billion, up 16.7%, and diluted earnings per share $2.14. The figures are the company's own, from the 10-K it filed with the SEC on 31 March 2014.
Revenue
$53.4 billion
+5.7% on the year
FY2007FY2013
Operating margin
6.9%
6.2% a year earlier
FY2007FY2013
Net income
$2.3 billion
+16.7% on the year
FY2007FY2013
Diluted EPS
$2.14
+26.6% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
53,417
50,521
50,208
+5.7%
Cost of revenue
34,941
33,194
32,858
+5.3%
Gross profit
18,476
17,327
17,350
+6.6%
Gross margin
34.6%
34.3%
34.6%
Selling, general and administrative
12,865
12,244
12,593
+5.1%
Operating income
3,673
3,137
2,906
+17.1%
Operating margin
6.9%
6.2%
5.8%
Pre-tax income
3,673
3,137
2,906
+17.1%
Income tax
1,387
1,178
1,067
+17.7%
Effective tax rate
37.8%
37.6%
36.7%
Net income
2,286
1,959
1,839
+16.7%
Net margin
4.3%
3.9%
3.7%
Diluted EPS
$2.14
$1.69
$1.43
+26.6%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
4,111
3,762
4,349
+9.3%
Capital expenditure
940
1,211
1,829
-22.4%
Free cash flow
3,171
2,551
2,520
+24.3%
Free cash flow margin
5.9%
5.0%
5.0%
Cash from investing
n/a
-903
-1,437
Cash from financing
n/a
-3,333
-2,549
Depreciation and amortisation
1,562
1,623
1,579
-3.8%
Share-based compensation
100
100
107
0.0%
Buybacks
3,710
4,393
2,937
-15.5%
Dividends paid
733
704
647
+4.1%
Dividend per share
$0.70
$0.62
$0.53
+12.9%
Diluted shares, weighted
1,061m
1,152m
1,273m
-7.9%
Shares outstanding at period end
1,030m
1,110m
1,241m
-7.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
11,853
13,857
16,533
-14.5%
Debt
10,521
9,077
7,627
+15.9%
Other liabilities
10,358
9,732
9,399
+6.4%
Total liabilities and equity
32,732
32,666
33,559
+0.2%
Fixed assets
20,834
21,477
21,970
-3.0%
Goodwill
155
n/a
n/a
Investments
464
396
790
+17.2%
Cash and equivalents
391
541
1,014
-27.7%
Inventory
9,127
8,600
8,355
+6.1%
Other assets
1,761
1,652
1,430
+6.6%
Total assets
32,732
32,666
33,559
+0.2%
10-K for the year ended 31 January 2014, filed 31 March 2014: the filing.