Lowe's Companies (LOW) FY2022 results: revenue $97.1 billion, up 0.8% on the year
Lowe's Companies Inc. (LOW) reported revenue of $97.1 billion for fiscal 2022, the year ended 3 February 2023, up 0.8% on the year before. Net income was $6.4 billion, down 23.8%, and diluted earnings per share $10.17. The figures are the company's own, from the 10-K it filed with the SEC on 27 March 2023.
Revenue
$97.1 billion
+0.8% on the year
FY2015FY2022
Operating margin
10.5%
12.6% a year earlier
FY2015FY2022
Net income
$6.4 billion
-23.8% on the year
FY2015FY2022
Diluted EPS
$10.17
-15.5% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
8,589
10,113
11,049
-15.1%
Capital expenditure
1,829
1,853
1,791
-1.3%
Free cash flow
6,760
8,260
9,258
-18.2%
Free cash flow margin
7.0%
8.6%
10.3%
Cash from investing
-1,309
-1,646
-1,894
Cash from financing
-7,049
-12,016
-5,191
Depreciation and amortisation
1,981
1,882
1,594
+5.3%
Share-based compensation
223
230
155
-3.0%
Buybacks
14,124
13,012
4,971
+8.5%
Dividends paid
2,370
1,984
1,704
+19.5%
Dividend per share
$3.95
$3.00
$2.30
+31.7%
Diluted shares, weighted
631m
699m
750m
-9.7%
Shares outstanding at period end
601m
670m
731m
-10.3%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
-14,254
-4,816
1,437
Short-term borrowings
n/a
0.0
n/a
Debt
33,960
24,285
21,780
+39.8%
Operating lease liabilities
3,512
4,021
3,890
-12.7%
Finance lease liabilities
477
563
564
-15.3%
Other liabilities
20,013
20,587
19,064
-2.8%
Total liabilities and equity
43,708
44,640
46,735
-2.1%
Fixed assets
17,567
19,071
19,155
-7.9%
Goodwill
311
311
311
0.0%
Intangible assets
169
388
n/a
-56.4%
Investments
505
470
706
+7.4%
Cash and equivalents
1,348
1,133
4,690
+19.0%
Inventory
18,532
17,605
16,193
+5.3%
Other assets
5,276
5,662
5,680
-6.8%
Total assets
43,708
44,640
46,735
-2.1%
10-K for the year ended 3 February 2023, filed 27 March 2023: the filing.