Lowe's Companies (LOW) FY2021 results: revenue $96.2 billion, up 7.4% on the year
Lowe's Companies Inc. (LOW) reported revenue of $96.2 billion for fiscal 2021, the year ended 28 January 2022, up 7.4% on the year before. Net income was $8.4 billion, up 44.7%, and diluted earnings per share $12.04. The figures are the company's own, from the 10-K it filed with the SEC on 21 March 2022.
Revenue
$96.2 billion
+7.4% on the year
FY2014FY2021
Operating margin
12.6%
10.8% a year earlier
FY2014FY2021
Net income
$8.4 billion
+44.7% on the year
FY2014FY2021
Diluted EPS
$12.04
+55.4% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
10,113
11,049
4,296
-8.5%
Capital expenditure
1,853
1,791
1,484
+3.5%
Free cash flow
8,260
9,258
2,812
-10.8%
Free cash flow margin
8.6%
10.3%
3.9%
Cash from investing
-1,646
-1,894
-1,369
Cash from financing
-12,016
-5,191
-2,735
Depreciation and amortisation
1,882
1,594
1,410
+18.1%
Share-based compensation
230
155
98.0
+48.4%
Buybacks
13,012
4,971
4,313
+161.8%
Dividends paid
1,984
1,704
1,618
+16.4%
Dividend per share
$3.00
$2.30
$2.13
+30.4%
Diluted shares, weighted
699m
750m
778m
-6.8%
Shares outstanding at period end
670m
731m
763m
-8.3%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
-4,816
1,437
1,972
Short-term borrowings
0.0
n/a
n/a
Debt
24,285
21,780
19,306
+11.5%
Operating lease liabilities
4,021
3,890
3,943
+3.4%
Finance lease liabilities
563
564
612
-0.2%
Other liabilities
20,587
19,064
13,638
+8.0%
Total liabilities and equity
44,640
46,735
39,471
-4.5%
Fixed assets
19,071
19,155
18,769
-0.4%
Goodwill
311
311
303
0.0%
Intangible assets
388
n/a
n/a
Investments
470
706
532
-33.4%
Cash and equivalents
1,133
4,690
716
-75.8%
Inventory
17,605
16,193
13,179
+8.7%
Other assets
5,662
5,680
5,972
-0.3%
Total assets
44,640
46,735
39,471
-4.5%
10-K for the year ended 28 January 2022, filed 21 March 2022: the filing.