Lowe's Companies (LOW) FY2015 results: revenue $59.1 billion, up 5.1% on the year
Lowe's Companies Inc. (LOW) reported revenue of $59.1 billion for fiscal 2015, the year ended 29 January 2016, up 5.1% on the year before. Net income was $2.5 billion, down 5.6%, and diluted earnings per share $2.73. The figures are the company's own, from the 10-K it filed with the SEC on 29 March 2016.
Revenue
$59.1 billion
+5.1% on the year
FY2008FY2015
Operating margin
8.4%
8.5% a year earlier
FY2008FY2015
Net income
$2.5 billion
-5.6% on the year
FY2008FY2015
Diluted EPS
$2.73
+0.7% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
59,074
56,223
53,417
+5.1%
Cost of revenue
38,504
36,665
34,941
+5.0%
Gross profit
20,570
19,558
18,476
+5.2%
Gross margin
34.8%
34.8%
34.6%
Selling, general and administrative
14,115
13,281
12,865
+6.3%
Operating income
4,971
4,792
3,673
+3.7%
Operating margin
8.4%
8.5%
6.9%
Pre-tax income
4,419
4,276
3,673
+3.3%
Income tax
1,873
1,578
1,387
+18.7%
Effective tax rate
42.4%
36.9%
37.8%
Net income
2,546
2,698
2,286
-5.6%
Net margin
4.3%
4.8%
4.3%
Diluted EPS
$2.73
$2.71
$2.14
+0.7%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
4,784
4,929
4,111
-2.9%
Capital expenditure
1,197
880
940
+36.0%
Free cash flow
3,587
4,049
3,171
-11.4%
Free cash flow margin
6.1%
7.2%
5.9%
Cash from investing
-1,343
n/a
n/a
Cash from financing
-3,493
n/a
n/a
Depreciation and amortisation
1,587
1,586
1,562
+0.1%
Share-based compensation
117
119
100
-1.7%
Buybacks
3,925
3,905
3,710
+0.5%
Dividends paid
957
822
733
+16.4%
Dividend per share
$1.07
$0.87
$0.70
+23.0%
Diluted shares, weighted
929m
990m
1,061m
-6.2%
Shares outstanding at period end
910m
960m
1,030m
-5.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
7,654
9,968
11,853
-23.2%
Non-controlling interest
0.0
n/a
n/a
Debt
12,649
11,358
10,521
+11.4%
Other liabilities
10,963
10,395
10,358
+5.5%
Total liabilities and equity
31,266
31,721
32,732
-1.4%
Fixed assets
19,577
20,034
20,834
-2.3%
Goodwill
154
154
155
0.0%
Investments
529
479
464
+10.4%
Cash and equivalents
405
466
391
-13.1%
Inventory
9,458
8,911
9,127
+6.1%
Other assets
1,143
1,677
1,761
-31.8%
Total assets
31,266
31,721
32,732
-1.4%
10-K for the year ended 29 January 2016, filed 29 March 2016: the filing.