LOWLowe's

$204.39

Is the business good?

How good a business is LOW?

Lowe's earns 30% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.

30%

Return on invested capital · cost of capital 9.0% · 21 points above what the capital costs: growth creates value

Operating margin
11%

Operating margin · Consumer Cyclical median 8.4% · 12 months to Q2 2026

Cash conversion
1.05×

Cash conversion · 1.12× a year ago · every dollar of reported profit arrived as cash, and more

Share count, year on year
0.00%

Share count, year on year · flat: no meaningful dilution

Operating margin by fiscal year
YearOperating margin
FY202011%
FY202113%
FY202210%
FY202313%
FY202413%
FY202512%
Details
Gross margin12 months to Q2 2026
33%
Operating margin12 months to Q2 2026
11%
Net margin12 months to Q2 2026
7.3%
Free cash flow margin
7.7%
Revenue, trailing twelve months
$90.4B
Free cash flow, trailing twelve months
$7.00B
Net income, trailing twelve months
$6.64B
Return on invested capitaloperating profit after tax ÷ debt + equity − cash
30%

Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.