Lowe's Companies (LOW) FY2019 results: revenue $72.1 billion, up 1.2% on the year
Lowe's Companies Inc. (LOW) reported revenue of $72.1 billion for fiscal 2019, the year ended 31 January 2020, up 1.2% on the year before. Net income was $4.3 billion, up 85.0%, and diluted earnings per share $5.49. The figures are the company's own, from the 10-K it filed with the SEC on 23 March 2020.
Revenue
$72.1 billion
+1.2% on the year
FY2012FY2019
Operating margin
8.8%
5.6% a year earlier
FY2012FY2019
Net income
$4.3 billion
+85.0% on the year
FY2012FY2019
Diluted EPS
$5.49
+93.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
72,148
71,309
68,619
+1.2%
Cost of revenue
49,205
48,401
46,185
+1.7%
Gross profit
22,943
22,908
22,434
+0.2%
Gross margin
31.8%
32.1%
32.7%
Selling, general and administrative
15,367
17,413
14,444
-11.7%
Operating income
6,314
4,018
6,586
+57.1%
Operating margin
8.8%
5.6%
9.6%
Pre-tax income
5,623
3,394
5,489
+65.7%
Income tax
1,342
1,080
2,042
+24.3%
Effective tax rate
23.9%
31.8%
37.2%
Net income
4,281
2,314
3,447
+85.0%
Net margin
5.9%
3.2%
5.0%
Diluted EPS
$5.49
$2.84
$4.09
+93.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4,296
6,193
5,065
-30.6%
Capital expenditure
1,484
1,174
1,123
+26.4%
Free cash flow
2,812
5,019
3,942
-44.0%
Free cash flow margin
3.9%
7.0%
5.7%
Cash from investing
-1,369
-1,080
-1,441
Cash from financing
-2,735
-5,124
-3,607
Depreciation and amortisation
1,410
1,607
1,540
-12.3%
Share-based compensation
98.0
74.0
99.0
+32.4%
Buybacks
4,313
3,037
3,192
+42.0%
Dividends paid
1,618
1,455
1,288
+11.2%
Dividend per share
$2.13
$1.85
$1.58
+15.1%
Diluted shares, weighted
778m
812m
840m
-4.2%
Shares outstanding at period end
763m
801m
830m
-4.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,972
3,644
5,873
-45.9%
Debt
19,306
16,223
16,995
+19.0%
Operating lease liabilities
3,943
0.0
n/a
Finance lease liabilities
612
n/a
n/a
Other liabilities
13,638
14,641
12,423
-6.9%
Total liabilities and equity
39,471
34,508
35,291
+14.4%
Fixed assets
18,769
18,432
19,721
+1.8%
Goodwill
303
303
1,307
0.0%
Investments
532
474
510
+12.2%
Cash and equivalents
716
511
588
+40.1%
Inventory
13,179
12,561
11,393
+4.9%
Other assets
5,972
2,227
1,772
+168.2%
Total assets
39,471
34,508
35,291
+14.4%
10-K for the year ended 31 January 2020, filed 23 March 2020: the filing.