Lowe's Companies (LOW) FY2014 results: revenue $56.2 billion, up 5.3% on the year
Lowe's Companies Inc. (LOW) reported revenue of $56.2 billion for fiscal 2014, the year ended 30 January 2015, up 5.3% on the year before. Net income was $2.7 billion, up 18.0%, and diluted earnings per share $2.71. The figures are the company's own, from the 10-K it filed with the SEC on 31 March 2015.
Revenue
$56.2 billion
+5.3% on the year
FY2007FY2014
Operating margin
8.5%
6.9% a year earlier
FY2007FY2014
Net income
$2.7 billion
+18.0% on the year
FY2007FY2014
Diluted EPS
$2.71
+26.6% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
56,223
53,417
50,521
+5.3%
Cost of revenue
36,665
34,941
33,194
+4.9%
Gross profit
19,558
18,476
17,327
+5.9%
Gross margin
34.8%
34.6%
34.3%
Selling, general and administrative
13,281
12,865
12,244
+3.2%
Operating income
4,792
3,673
3,137
+30.5%
Operating margin
8.5%
6.9%
6.2%
Pre-tax income
4,276
3,673
3,137
+16.4%
Income tax
1,578
1,387
1,178
+13.8%
Effective tax rate
36.9%
37.8%
37.6%
Net income
2,698
2,286
1,959
+18.0%
Net margin
4.8%
4.3%
3.9%
Diluted EPS
$2.71
$2.14
$1.69
+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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
4,929
4,111
3,762
+19.9%
Capital expenditure
880
940
1,211
-6.4%
Free cash flow
4,049
3,171
2,551
+27.7%
Free cash flow margin
7.2%
5.9%
5.0%
Cash from investing
n/a
n/a
-903
Cash from financing
n/a
n/a
-3,333
Depreciation and amortisation
1,586
1,562
1,623
+1.5%
Share-based compensation
119
100
100
+19.0%
Buybacks
3,905
3,710
4,393
+5.3%
Dividends paid
822
733
704
+12.1%
Dividend per share
$0.87
$0.70
$0.62
+24.3%
Diluted shares, weighted
990m
1,061m
1,152m
-6.7%
Shares outstanding at period end
960m
1,030m
1,110m
-6.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
9,968
11,853
13,857
-15.9%
Debt
11,358
10,521
9,077
+8.0%
Other liabilities
10,395
10,358
9,732
+0.4%
Total liabilities and equity
31,721
32,732
32,666
-3.1%
Fixed assets
20,034
20,834
21,477
-3.8%
Goodwill
154
155
n/a
-0.6%
Investments
479
464
396
+3.2%
Cash and equivalents
466
391
541
+19.2%
Inventory
8,911
9,127
8,600
-2.4%
Other assets
1,677
1,761
1,652
-4.8%
Total assets
31,721
32,732
32,666
-3.1%
10-K for the year ended 30 January 2015, filed 31 March 2015: the filing.