Lowe's Companies (LOW) FY2016 results: revenue $65.0 billion, up 10.1% on the year
Lowe's Companies Inc. (LOW) reported revenue of $65.0 billion for fiscal 2016, the year ended 3 February 2017, up 10.1% on the year before. Net income was $3.1 billion, up 21.4%, and diluted earnings per share $3.47. The figures are the company's own, from the 10-K it filed with the SEC on 2 April 2019.
Revenue
$65.0 billion
+10.1% on the year
FY2009FY2016
Operating margin
9.0%
8.4% a year earlier
FY2009FY2016
Net income
$3.1 billion
+21.4% on the year
FY2009FY2016
Diluted EPS
$3.47
+27.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
65,017
59,074
56,223
+10.1%
Cost of revenue
43,343
38,504
36,665
+12.6%
Gross profit
21,674
20,570
19,558
+5.4%
Gross margin
33.3%
34.8%
34.8%
Selling, general and administrative
14,375
14,115
13,281
+1.8%
Operating income
5,846
4,971
4,792
+17.6%
Operating margin
9.0%
8.4%
8.5%
Pre-tax income
5,201
4,419
4,276
+17.7%
Income tax
2,108
1,873
1,578
+12.5%
Effective tax rate
40.5%
42.4%
36.9%
Net income
3,091
2,546
2,698
+21.4%
Net margin
4.8%
4.3%
4.8%
Diluted EPS
$3.47
$2.73
$2.71
+27.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
5,617
4,784
4,929
+17.4%
Capital expenditure
1,167
1,197
880
-2.5%
Free cash flow
4,450
3,587
4,049
+24.1%
Free cash flow margin
6.8%
6.1%
7.2%
Cash from investing
-3,361
-1,343
n/a
Cash from financing
-2,092
-3,493
n/a
Depreciation and amortisation
1,590
1,587
1,586
+0.2%
Share-based compensation
90.0
117
119
-23.1%
Buybacks
3,595
3,925
3,905
-8.4%
Dividends paid
1,121
957
822
+17.1%
Dividend per share
$1.33
$1.07
$0.87
+24.3%
Diluted shares, weighted
881m
929m
990m
-5.2%
Shares outstanding at period end
866m
910m
960m
-4.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,434
7,654
9,968
-15.9%
Non-controlling interest
0.0
0.0
n/a
Debt
15,699
12,649
11,358
+24.1%
Other liabilities
12,275
10,963
10,395
+12.0%
Total liabilities and equity
34,408
31,266
31,721
+10.0%
Fixed assets
19,949
19,577
20,034
+1.9%
Goodwill
1,082
154
154
+602.6%
Investments
466
529
479
-11.9%
Cash and equivalents
558
405
466
+37.8%
Inventory
10,458
9,458
8,911
+10.6%
Other assets
1,895
1,143
1,677
+65.8%
Total assets
34,408
31,266
31,721
+10.0%
10-K for the year ended 3 February 2017, filed 2 April 2019: the filing.