olivLaw · US equity research
Lowe's Companies, Inc. LOW
Retail-Lumber & Other Building Materials Dealers · SIC 5211 · Vertical: Building materials and hardware retail (SIC 52xx)
Lowe's is the world's second largest home improvement retailer, with more than 1,750 stores and over 540 branches serving both DIY and professional customers. The company completed the acquisitions of Foundation Building Materials and Artisan Design Group, and second quarter 2026 sales rose to $26.0 billion.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, Lowe's Companies, Inc. (LOW) stock was 227.24 USD (−0.93% on the day), with market capitalisation 127.5 bn USD, P/E 19.2 on diluted EPS of 11.84 USD over the last 12 months, dividend yield 2.13%, beta 0.61, 52-week range 179.50–287.39 USD. Latest reported quarter (Q2 2027): revenue of 26.0 bn USD (+8.3% YoY), net income of 2.4 bn USD (+0.0% YoY), diluted EPS 4.27 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 72.1
- overbought (≥ 70)
- Bollinger (20, 2)
- 177.50 – 226.01
- above the upper band · %B 1.03 · band width 24.0%
- SMA 50 / 200
- 196.79 / 224.89
- mixed trend
- MACD (12, 26, 9)
- 7.55 / 4.07
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +23.7% | −5.9% | +29.7 pp | — |
| 3 months | +4.0% | −4.6% | +8.7 pp | — |
| 6 months | −1.6% | +0.2% | −1.8 pp | — |
| Year to date | −5.8% | +7.4% | −13.2 pp | — |
| 1 year | −3.0% | +8.2% | −11.2 pp | −12.1% |
| 3 years | +17.0% | +68.4% | −51.4 pp | −41.2% |
| 5 years | −3.5% | +56.5% | −60.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 31 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 20.2 bn | 18.6 bn | 20.9 bn | 24.0 bn | 20.8 bn | 20.6 bn | 23.1 bn | 26.0 bn |
| Cost of revenue | 13.4 bn | 12.5 bn | 13.9 bn | 15.9 bn | 13.7 bn | 13.9 bn | 15.5 bn | 17.4 bn |
| Gross profit | 6.8 bn | 6.1 bn | 7.0 bn | 8.1 bn | 7.1 bn | 6.7 bn | 7.5 bn | 8.6 bn |
| SG&A | 3.8 bn | 3.8 bn | 4.0 bn | 4.2 bn | 4.2 bn | 4.4 bn | 4.4 bn | 4.5 bn |
| Operating income | 2.5 bn | 1.8 bn | 2.5 bn | 3.5 bn | 2.5 bn | 1.7 bn | 2.6 bn | 3.5 bn |
| Depreciation & amortisation | 433.0 m | 511.0 m | 507.0 m | 457.0 m | 475.0 m | 637.0 m | 644.0 m | 572.0 m |
| Pre-tax income | 2.2 bn | 1.5 bn | 2.2 bn | 3.2 bn | 2.1 bn | 1.3 bn | 2.2 bn | 3.2 bn |
| Income tax | 524.0 m | 378.0 m | 516.0 m | 758.0 m | 513.0 m | 304.0 m | 527.0 m | 776.0 m |
| Net income | 1.7 bn | 1.1 bn | 1.6 bn | 2.4 bn | 1.6 bn | 1.0 bn | 1.6 bn | 2.4 bn |
| Diluted EPS | 2.99 | 1.99 ≈ | 2.92 | 4.27 | 2.88 | 1.79 ≈ | 2.90 | 4.27 |
| Operating cash flow | 1.3 bn ≈ | 911.0 m | 3.4 bn | 4.2 bn ≈ | 687.0 m ≈ | 1.6 bn | 3.4 bn | 3.7 bn ≈ |
| Capex | 571.0 m ≈ | 548.0 m | 518.0 m | 495.0 m ≈ | 597.0 m ≈ | 603.0 m | 521.0 m | 542.0 m ≈ |
| Dividends paid | 654.0 m ≈ | 650.0 m | 645.0 m | 645.0 m ≈ | 673.0 m ≈ | 673.0 m | 674.0 m | 672.0 m ≈ |
| Share repurchases | 751.0 m ≈ | 1.4 bn | 112.0 m | 1.0 m ≈ | 98.0 m ≈ | 0 | 363.0 m | 3.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 26 percentile of its own 43-quarter history (min 15.0, median 21.0, max 38.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 71.3 bn | 72.1 bn | 89.6 bn | 96.3 bn | 97.1 bn | 86.4 bn | 83.7 bn | 86.3 bn |
| Revenue YoY | +3.9% | +1.2% | +24.2% | +7.4% | +0.8% | −11.0% | −3.1% | +3.1% |
| Net income | 2.3 bn | 4.3 bn | 5.8 bn | 8.4 bn | 6.4 bn | 7.7 bn | 7.0 bn | 6.7 bn |
| Net income YoY | −32.9% | +85.0% | +36.3% | +44.7% | −23.8% | +20.0% | −10.0% | −4.4% |
| Diluted EPS | 2.84 | 5.49 | 7.75 | 12.04 | 10.17 | 13.20 | 12.23 | 11.85 |
| Diluted EPS YoY | −30.6% | +93.3% | +41.2% | +55.4% | −15.5% | +29.8% | −7.3% | −3.1% |
| net % | 3.2% | 5.9% | 6.5% | 8.8% | 6.6% | 8.9% | 8.3% | 7.7% |
| Free cash flow | 5.0 bn | 2.8 bn | 9.3 bn | 8.3 bn | 6.8 bn | 6.2 bn | 7.7 bn | 7.7 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Jan 2026
- Cash
- 982.0 m USD
- Financial debt
- 39.8 bn USD
- Net debt
- 38.8 bn USD
- Equity
- -9.9 bn USD
- Total assets
- 54.1 bn USD
- Debt / equity
- unavailable
- Current ratio
- 1.08x
- ROE
- unavailable
- ROA
- 13.7%
- FCF margin
- 8.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 89.6 bn | 96.3 bn | 97.1 bn | 86.4 bn | 83.7 bn | 86.3 bn | SEC (XBRL)· 23 Mar 2026verified |
| Cost of revenue | 60.0 bn | 64.2 bn | 64.8 bn | 57.5 bn | 55.8 bn | 57.4 bn | SEC (XBRL)· 23 Mar 2026verified |
| Gross profit | 29.6 bn | 32.1 bn | 32.3 bn | 28.8 bn | 27.9 bn | 28.9 bn | SEC (XBRL)· 23 Mar 2026verified |
| SG&A | 18.5 bn | 18.3 bn | 20.3 bn | 15.6 bn | 15.7 bn | 16.8 bn | SEC (XBRL)· 23 Mar 2026verified |
| Operating income | 9.6 bn | 12.1 bn | 10.2 bn | 11.6 bn | 10.5 bn | 10.2 bn | SEC (XBRL)· 23 Mar 2026verified |
| Depreciation & amortisation | 1.6 bn | 1.9 bn | 2.0 bn | 1.9 bn | 2.0 bn | 2.2 bn | SEC (XBRL)· 23 Mar 2026verified |
| EBITDA | 11.2 bn ≈ | 14.0 bn ≈ | 12.1 bn ≈ | 13.5 bn ≈ | 12.4 bn ≈ | 12.3 bn ≈ | SEC (XBRL)· 23 Mar 2026derived |
| Pre-tax income | 7.7 bn | 11.2 bn | 9.0 bn | 10.2 bn | 9.2 bn | 8.7 bn | SEC (XBRL)· 23 Mar 2026verified |
| Income tax | 1.9 bn | 2.8 bn | 2.6 bn | 2.4 bn | 2.2 bn | 2.1 bn | SEC (XBRL)· 23 Mar 2026verified |
| Net income | 5.8 bn | 8.4 bn | 6.4 bn | 7.7 bn | 7.0 bn | 6.7 bn | SEC (XBRL)· 23 Mar 2026verified |
| Diluted EPS | 7.75 | 12.04 | 10.17 | 13.20 | 12.23 | 11.85 | SEC (XBRL)· 23 Mar 2026verified |
| Weighted average diluted shares | 750.0 m | 699.0 m | 631.0 m | 584.0 m | 568.0 m | 560.0 m | SEC (XBRL)· 23 Mar 2026verified |
| Dividend per share | 2.30 | 3.00 | 3.95 | 4.35 | 4.55 | 4.75 | SEC (XBRL)· 23 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 4.7 bn | 1.1 bn | 1.3 bn | 921.0 m | 1.8 bn | 982.0 m | SEC (XBRL)· 23 Mar 2026verified |
| Inventories | 16.2 bn | 17.6 bn | 18.5 bn | 16.9 bn | 17.4 bn | 17.3 bn | SEC (XBRL)· 23 Mar 2026verified |
| Current assets | 22.3 bn | 20.1 bn | 21.4 bn | 19.1 bn | 20.4 bn | 21.0 bn | SEC (XBRL)· 23 Mar 2026verified |
| Property, plant & equipment, net | 19.2 bn | 19.1 bn | 17.6 bn | 17.7 bn | — | — | SEC (XBRL)· 30 May 2024verified |
| Goodwill | 311.0 m | 311.0 m | 311.0 m | 311.0 m | 311.0 m | 3.9 bn | SEC (XBRL)· 23 Mar 2026verified |
| Intangibles (excl. goodwill) | — | 388.0 m | 169.0 m | — | 277.0 m | 5.9 bn | SEC (XBRL)· 23 Mar 2026verified |
| Total assets | 46.7 bn | 44.6 bn | 43.7 bn | 41.8 bn | 43.1 bn | 54.1 bn | SEC (XBRL)· 23 Mar 2026verified |
| Accounts payable | 10.9 bn | 11.4 bn | 10.5 bn | 8.7 bn | 9.3 bn | 9.8 bn | SEC (XBRL)· 23 Mar 2026verified |
| Short-term debt | 0 | 0 | 499.0 m | 0 | 2.6 bn | 0 | SEC (XBRL)· 28 May 2026verified |
| Long-term debt | — | 24.3 bn | 33.3 bn | 35.8 bn | 35.3 bn | 39.8 bn | SEC (XBRL)· 23 Mar 2026verified |
| Current liabilities | 18.7 bn | 19.7 bn | 19.5 bn | 15.6 bn | 18.8 bn | 19.5 bn | SEC (XBRL)· 23 Mar 2026verified |
| Total liabilities | 45.3 bn | 49.5 bn | 58.0 bn | 56.8 bn | 57.3 bn | 64.1 bn | SEC (XBRL)· 23 Mar 2026verified |
| Equity | 1.4 bn | -4.8 bn | -14.3 bn | -15.1 bn † | -14.2 bn † | -9.9 bn † | SEC (XBRL)· 23 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 11.0 bn | 10.1 bn | 8.6 bn | 8.1 bn | 9.6 bn | 9.9 bn | SEC (XBRL)· 23 Mar 2026verified |
| Capex | 1.8 bn | 1.9 bn | 1.8 bn | 2.0 bn | 1.9 bn | 2.2 bn | SEC (XBRL)· 23 Mar 2026verified |
| Free cash flow | 9.3 bn ≈ | 8.3 bn ≈ | 6.8 bn ≈ | 6.2 bn ≈ | 7.7 bn ≈ | 7.7 bn ≈ | SEC (XBRL)· 23 Mar 2026derived |
| Investing cash flow | -1.9 bn | -1.6 bn | -1.3 bn | -1.9 bn | -1.7 bn | -12.3 bn | SEC (XBRL)· 23 Mar 2026verified |
| Financing cash flow | -5.2 bn | -12.0 bn | -7.0 bn | -6.7 bn | -7.0 bn | 1.6 bn | SEC (XBRL)· 23 Mar 2026verified |
| Dividends paid | 1.7 bn | 2.0 bn | 2.4 bn | 2.5 bn | 2.6 bn | 2.6 bn | SEC (XBRL)· 23 Mar 2026verified |
| Share repurchases | 5.0 bn | 13.0 bn | 14.1 bn | 6.1 bn | 4.1 bn | 211.0 m | SEC (XBRL)· 23 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 59 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 127.5 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet64
- Returns61
- Quality80
- Growth17
- Valuation71
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 62.42 – 379.82 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDA202.30 – 276.50 (Mid 235.92)4 companies used · median multiple 10.4x · quartiles 8.9x – 12.2xBLDR, FND, HD, TSCO
- Peers: P/E272.85 – 379.82 (Mid 289.92)5 companies used · median multiple 24.5x · quartiles 23.1x – 32.1xFAST, FND, HD, SHW, TSCO
- Dividend discount (DDM)62.42 – 83.94 (Mid 71.60)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 59/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 7.3% | 60 (vs peers) | 8% |
| FCF conversion · Quality | 105.4% | 100 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | -3.8% | 0 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | 5.2% | 35 (on a fixed band) | 10% |
| Net debt / EBITDA · Balance sheet | -0.1x | 80 (vs peers) | 13% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.1x | 25 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 19.2x | 83 (vs peers) | 13% |
| EV/EBITDA · Valuation | 10.0x | 60 (vs peers) | 13% |
| FCF yield · Valuation | 5.5% | 69 (on a fixed band) | 10% |
| Shareholder yield (distributions) · Returns | 2.5% | 35 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | 38.5% | 100 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet64/100 · 2/3 factors with a value
- Growth17/100 · 2/2 factors with a value
- Quality80/100 · 2/3 factors with a value
- Returns61/100 · 2/2 factors with a value
- Valuation71/100 · 3/3 factors with a value
Memo
LOWES COMPANIES INC (LOW). Latest full fiscal year: 2026; data up to 2026-07-31.
Figures computed from the financial statements: revenue 86.3 bn USD in 2026; YoY growth 3.1%; net margin 7.3%; net debt/EBITDA -0.1x.
The estimated value range is 202.30–276.50 USD per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 235.92 USD, the price of 227.24 USD leaves a potential of 3.8% (value / price − 1) and a margin of safety of 3.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 59/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 105.4%
- Net debt / EBITDA: -0.1x
- P/E (TTM): 19.2x
- Payout ratio (FCF): 38.5%
What contradicts it
- Revenue CAGR 3Y: -3.8%
- Current ratio: 1.1x
Not assessed (insufficient data or a ratio without meaning): ROIC, Interest coverage.
Versus the vertical median
Building materials and hardware retail (SIC 52xx) · same major group (2-digit SIC) · compared with 10 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| HDThe Home Depot, Inc. | 349.1 bn | 24.5 | 104.3% | 8.4% | +3.2% | −2% / +12% |
| LOWLowes Companies Inc | 127.5 bn | 19.2 | — | 7.3% | +3.1% | −3% / +17% |
| SHWThe Sherwin-Williams Company | 84.3 bn | 32.1 | 63.7% | 10.7% | +2.1% | +2% / +25% |
| FASTFastenal Co | 60.7 bn | 42.8 | 35.3% | 15.6% | +8.7% | +31% / +76% |
| TSCOTractor Supply Co | 19.0 bn | 10.5 | 70.5% | 11.6% | +4.3% | −33% / −10% |
| BLDRBuilders Firstsource, Inc. | 7.0 bn | 175.2 | 1.0% | 0.3% | −7.4% | −42% / −51% |
| FNDFloor & Decor Holdings, Inc. | 5.4 bn | 23.1 | 9.9% | 5.1% | +5.1% | −19% / −44% |
| GRWGGrowgeneration Corp. | 86.6 m | — | -17.1% | -10.1% | −14.4% | −5% / −45% |
| JCTCJewett-Cameron Trading Company Ltd. | 10.1 m | — | -43.7% | -20.9% | −12.4% | +16% / −41% |
| IPWiPower Inc. | 1.7 m | — | -66.0% | -58.2% | −68.4% | −100% / −100% |
| ZKHZKH Group Limited | — | — | -4.6% | -1.6% | +2.6% | −60% / unavailable |
1- and 3-year price returns: for LOW from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 123.10 Total return -44% · Per year -44% | 218.58 Total return -2% · Per year -2% | 330.55 Total return 48% · Per year 48% |
| 3 years | 100.27 Total return -52% · Per year -22% | 202.09 Total return -5% · Per year -2% | 338.23 Total return 56% · Per year 16% |
| 5 years | 81.67 Total return -58% · Per year -16% | 186.85 Total return -8% · Per year -2% | 346.08 Total return 65% · Per year 11% |
- Exit P/E± 50.52
- Net margin± 35.37
- Annual revenue growth± 31.56
- Annual dilution± 2.97
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Aug 2026; since then the company filed 10-Q (27 Aug 2026).
In brief
Lowe's is the world's second largest home improvement retailer, with more than 1,750 stores and over 540 branches serving both DIY and professional customers. The company completed the acquisitions of Foundation Building Materials and Artisan Design Group, and second quarter 2026 sales rose to $26.0 billion 12.
SWOT
Strengths
- Second largest home improvement retailer in the world, with an extensive network of stores and branches that provides scale and customer reach.
- Strong operating cash flow allows the company to fund investment and distribute dividends to shareholders.
- The Total Home strategy covers both DIY and Pro customers, with omnichannel integration that has supported comparable sales growth.
Weaknesses
- Discretionary DIY spending has remained weak, and the number of comparable customer transactions declined in fiscal 2025.
- Recent acquisitions added operating costs and intangible amortization that have weighed on operating margin.
- Dependence on housing market conditions makes near-term demand difficult to predict.
Opportunities
- Expanding the large Pro segment through the FBM and ADG acquisitions could open new revenue in residential and commercial construction.
- A possible recovery in housing activity could boost demand for the company's products and services.
- Growth in installation services and loyalty programs could raise average ticket value over time.
Threats
- Tariffs and shifts in trade policy can raise purchase costs and pressure margins.
- Competition from online retailers and omnichannel rivals could reduce market share if delivery services are not competitive.
- Inflation and tighter credit could limit consumer spending on home projects.
Risks
- Adapting to customer behaviourhigh
If Lowe's fails to identify and respond to changing shopping habits and demographics, it could lose market share, especially to efficient low-cost competitors.
- Online and delivery competitionhigh
Online competitors offer fast delivery and transparent pricing, and a lack of competitive delivery capabilities could weigh on sales.
- Labour costsmedium
A competitive labour market and wage pressure could raise costs, and union organising at FBM could change how the business operates.
- Reputation and public imagemedium
Media criticism or negative social media campaigns could erode trust among customers, vendors and associates.
- Integration of acquisitionsmedium
Integrating FBM and ADG could present operational and cost difficulties, and acquisition amortization continues to weigh on results.
Investment thesis
What would need to be true (bull case)
- Steady growth in sales to Pro customers, online channels and installation services could support a recovery in results if the housing market improves.
- Its position as a leading global home improvement retailer gives advantages of scale in purchasing and logistics.
- The commitment to returning capital to shareholders through dividends and buybacks is an element investors can monitor.
What would break the thesis
- If discretionary DIY spending remains weak, comparable sales growth could stay close to zero.
- Tariffs and trade policy changes could compress margins, especially if refunds do not recur.
- Recent acquisitions bring amortization and operating costs that could reduce profitability in the coming period.
What to watch
- Trend in comparable sales and the DIY segmentQ3 2026
- Updated fiscal 2026 outlook for sales and EPS2026
- Effect of tariffs and any additional refunds in the second half of the yearQ4 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 19 Aug 2026; since then the company filed 10-Q (27 Aug 2026).
The business
Lowe's Companies, Inc. is an omnichannel home improvement retailer listed on the NYSE under the ticker LOW, headquartered in Mooresville, North Carolina 12. Its Total Home strategy focuses on Pro penetration, accelerating online sales, expanding home services, creating a loyalty ecosystem and increasing space productivity 1. Net sales reached $86.3 billion in fiscal 2025, up 3.1% 1.
Segments
Pro branches and installed sales
The branch network, with more than 540 locations in the United States and Canada, serves larger Pro customers and handles the delivery and installation of building materials 1. The FBM and ADG acquisitions extended this activity into residential and commercial markets 12.
Trends
- Growth in the Pro segmenttailwind
Sales to professional customers supported comparable sales, and recent acquisitions extend the offer to larger Pro customers 12. If this trend holds, it could offset weakness in the DIY segment.
- Growing online salesmixed
Online and omnichannel shopping is increasingly important, and customers compare prices in real time using digital tools 12. Investment in fast delivery is costly but supports market share.
- Pressure on DIY spendingheadwind
Discretionary spending by individual homeowners has remained under pressure, according to the August 2026 release 2. If macroeconomic conditions do not improve, DIY sales volumes could stay weak.
- Tariffs and refundsmixed
Trade policy and tariffs can affect purchase costs, and IEEPA tariff refunds influenced second quarter 2026 results 12. The company excluded possible additional refunds in the second half of the year from its outlook 2.
Competitive position
Lowe's competes with national and regional home improvement warehouse chains, hardware stores, general merchandise retailers, warehouse clubs and online retailers 1. Key competitive factors include store location, product assortment, pricing, stock levels and omnichannel capabilities 1.
- The Home DepotHD
Principal rival among national home improvement warehouse chains, named as a competing national chain in the company's markets.
- Online and omnichannel retailers
Online sellers offering fast delivery and comparable prices, described in the source as a growing competitive pressure.
- Hardware, plumbing and electrical retailers
Traditional hardware and specialty stores that compete on individual product categories.
- Building materials distributors
Distributors competing in the professional segment, including in the building materials area targeted by recent acquisitions.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Lowe's is launching a drone delivery service in partnership with DoorDash, AlphabetCNBC — Top News · 24 Sept 2026 · EN
- How Much Further Could Lowe's Stock Fall With Its DIY Shoppers Holding Back?Yahoo Finance — News · 22 Sept 2026 · EN
- Will Lowe's Stock Keep Falling? Unusually Heavy LOW Put Options Activity May Imply This - Or Does It?Yahoo Finance — News · 22 Sept 2026 · EN
- Is Lowe's Cheap Because Nobody Noticed Its Growth?Yahoo Finance — News · 16 Sept 2026 · EN
- Lowe's shares plan to create 1 million six-figure jobsYahoo Finance — News · 05 Sept 2026 · EN
- Lowe's Foundation launches skilled trades coalition with 75 companiesYahoo Finance — News · 01 Sept 2026 · EN
- Lowe's Stock: Is LOW Underperforming the Consumer Cyclical Sector?Yahoo Finance — News · 01 Sept 2026 · EN
- Lowe's (LOW) Q2 2027 Earnings Call TranscriptYahoo Finance — News · 26 Aug 2026 · EN
- Lowe's Just Reported Earnings. Here's Whether the Dividend Stock Is Still a Buy.Yahoo Finance — News · 26 Aug 2026 · EN
- Trader Joe's, Lowe's Embrace Mini Mania To Boost SalesBloomberg Markets · 08 Jul 2026 · EN
- Home Depot comps finally catch Lowe's, opening the door for the stock to do the sameCNBC World · 22 May 2026 · EN
SEC filings
- Current report02 Sept 2026Departure or appointment of officers
- Quarterly report27 Aug 2026
- Current report19 Aug 2026Results of operations · Financial statements and exhibits
- Current report02 Jun 2026Shareholder vote
- Quarterly report28 May 2026
- Current report20 May 2026Results of operations · Financial statements and exhibits
- Proxy statement16 Apr 2026
- Annual report23 Mar 2026
- Current report25 Feb 2026Results of operations · Financial statements and exhibits
- Quarterly report26 Nov 2025
Sources
- [1] Form 10-K, fiscal year ended 2026-01-30 · SEC / Lowe's Companies, Inc. · 23 Mar 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Lowe's Companies, Inc. · 19 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.