Lowe's Companies (LOW) FY2018 results: revenue $71.3 billion, up 3.9% on the year
Lowe's Companies Inc. (LOW) reported revenue of $71.3 billion for fiscal 2018, the year ended 1 February 2019, up 3.9% on the year before. Net income was $2.3 billion, down 32.9%, and diluted earnings per share $2.84. The figures are the company's own, from the 10-K it filed with the SEC on 2 April 2019.
Revenue
$71.3 billion
+3.9% on the year
FY2011FY2018
Operating margin
5.6%
9.6% a year earlier
FY2011FY2018
Net income
$2.3 billion
-32.9% on the year
FY2011FY2018
Diluted EPS
$2.84
-30.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
71,309
68,619
65,017
+3.9%
Cost of revenue
48,401
46,185
43,343
+4.8%
Gross profit
22,908
22,434
21,674
+2.1%
Gross margin
32.1%
32.7%
33.3%
Selling, general and administrative
17,413
14,444
14,375
+20.6%
Operating income
4,018
6,586
5,846
-39.0%
Operating margin
5.6%
9.6%
9.0%
Pre-tax income
3,394
5,489
5,201
-38.2%
Income tax
1,080
2,042
2,108
-47.1%
Effective tax rate
31.8%
37.2%
40.5%
Net income
2,314
3,447
3,091
-32.9%
Net margin
3.2%
5.0%
4.8%
Diluted EPS
$2.84
$4.09
$3.47
-30.6%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
6,193
5,065
5,617
+22.3%
Capital expenditure
1,174
1,123
1,167
+4.5%
Free cash flow
5,019
3,942
4,450
+27.3%
Free cash flow margin
7.0%
5.7%
6.8%
Cash from investing
-1,080
-1,441
-3,361
Cash from financing
-5,124
-3,607
-2,092
Depreciation and amortisation
1,607
1,540
1,590
+4.4%
Share-based compensation
74.0
99.0
90.0
-25.3%
Buybacks
3,037
3,192
3,595
-4.9%
Dividends paid
1,455
1,288
1,121
+13.0%
Dividend per share
$1.85
$1.58
$1.33
+17.1%
Diluted shares, weighted
812m
840m
881m
-3.3%
Shares outstanding at period end
801m
830m
866m
-3.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,644
5,873
6,434
-38.0%
Non-controlling interest
n/a
n/a
0.0
Debt
16,223
16,995
15,699
-4.5%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
14,641
12,423
12,275
+17.9%
Total liabilities and equity
34,508
35,291
34,408
-2.2%
Fixed assets
18,432
19,721
19,949
-6.5%
Goodwill
303
1,307
1,082
-76.8%
Investments
474
510
466
-7.1%
Cash and equivalents
511
588
558
-13.1%
Inventory
12,561
11,393
10,458
+10.3%
Other assets
2,227
1,772
1,895
+25.7%
Total assets
34,508
35,291
34,408
-2.2%
10-K for the year ended 1 February 2019, filed 2 April 2019: the filing.