Lowe's Companies (LOW) FY2017 results: revenue $68.6 billion, up 5.5% on the year
Lowe's Companies Inc. (LOW) reported revenue of $68.6 billion for fiscal 2017, the year ended 2 February 2018, up 5.5% on the year before. Net income was $3.4 billion, up 11.5%, and diluted earnings per share $4.09. The figures are the company's own, from the 10-K it filed with the SEC on 2 April 2019.
Revenue
$68.6 billion
+5.5% on the year
FY2010FY2017
Operating margin
9.6%
9.0% a year earlier
FY2010FY2017
Net income
$3.4 billion
+11.5% on the year
FY2010FY2017
Diluted EPS
$4.09
+17.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
68,619
65,017
59,074
+5.5%
Cost of revenue
46,185
43,343
38,504
+6.6%
Gross profit
22,434
21,674
20,570
+3.5%
Gross margin
32.7%
33.3%
34.8%
Selling, general and administrative
14,444
14,375
14,115
+0.5%
Operating income
6,586
5,846
4,971
+12.7%
Operating margin
9.6%
9.0%
8.4%
Pre-tax income
5,489
5,201
4,419
+5.5%
Income tax
2,042
2,108
1,873
-3.1%
Effective tax rate
37.2%
40.5%
42.4%
Net income
3,447
3,091
2,546
+11.5%
Net margin
5.0%
4.8%
4.3%
Diluted EPS
$4.09
$3.47
$2.73
+17.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,065
5,617
4,784
-9.8%
Capital expenditure
1,123
1,167
1,197
-3.8%
Free cash flow
3,942
4,450
3,587
-11.4%
Free cash flow margin
5.7%
6.8%
6.1%
Cash from investing
-1,441
-3,361
-1,343
Cash from financing
-3,607
-2,092
-3,493
Depreciation and amortisation
1,540
1,590
1,587
-3.1%
Share-based compensation
99.0
90.0
117
+10.0%
Buybacks
3,192
3,595
3,925
-11.2%
Dividends paid
1,288
1,121
957
+14.9%
Dividend per share
$1.58
$1.33
$1.07
+18.8%
Diluted shares, weighted
840m
881m
929m
-4.7%
Shares outstanding at period end
830m
866m
910m
-4.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,873
6,434
7,654
-8.7%
Non-controlling interest
n/a
0.0
0.0
Debt
16,995
15,699
12,649
+8.3%
Other liabilities
12,423
12,275
10,963
+1.2%
Total liabilities and equity
35,291
34,408
31,266
+2.6%
Fixed assets
19,721
19,949
19,577
-1.1%
Goodwill
1,307
1,082
154
+20.8%
Investments
510
466
529
+9.4%
Cash and equivalents
588
558
405
+5.4%
Inventory
11,393
10,458
9,458
+8.9%
Other assets
1,772
1,895
1,143
-6.5%
Total assets
35,291
34,408
31,266
+2.6%
10-K for the year ended 2 February 2018, filed 2 April 2019: the filing.