Our view
Lowe's has a constructive operating-cash starting point. Cash remained positive after the selected capital purchases for 2026-01-31 to 2026-07-31. I would test that coverage through a weaker demand period, alongside upcoming commitments and the business drivers below.
What the financial statements show about Lowe's
Reported revenue increased 8.3% year over year to USD 25.956 billion for 2026-05-02 to 2026-07-31. Operating income increased 2.3% year over year to USD 3.549 billion for 2026-05-02 to 2026-07-31. Operating cash for 2026-01-31 to 2026-07-31 was USD 7.009 billion.
Cash quality and funding obligations
Test operating cash after inventory changes and investment in Pro fulfillment. Split financing-driven buybacks from cash earned from stores.
Lowe's reported USD 132 million of share-based compensation over the operating-cash period shown. Track actual share issuance or repurchases alongside the cash statement. The table’s cash-minus-capital-purchases figure leaves those shareholder effects to a separate calculation.
What could weaken the financial-health view?
High financing costs or slow existing-home sales can defer large projects. A push into Pro can require investment before sales improve.
Data and assumptions
| Metric | Reporting period or balance date | Reported or calculated value | Comparison value and period | Primary evidence |
|---|---|---|---|---|
| Revenue | 2026-05-02 to 2026-07-31 | USD 25.956 billion | USD 23.959 billion (2025-05-03 to 2025-08-01) | Form 10-Q, filed 2026-08-27 |
| Reported operating income or loss | 2026-05-02 to 2026-07-31 | USD 3.549 billion | USD 3.469 billion (2025-05-03 to 2025-08-01) | Form 10-Q, filed 2026-08-27 |
| Cash from operating activities | 2026-01-31 to 2026-07-31 | USD 7.009 billion | USD 7.61 billion (2025-02-01 to 2025-08-01) | Form 10-Q, filed 2026-08-27 |
| Capital purchases in selected cash-flow line | 2026-01-31 to 2026-07-31 | USD 1.063 billion | USD 1.013 billion (2025-02-01 to 2025-08-01) | Form 10-Q, filed 2026-08-27 |
| Operating cash less selected capital purchases (calculated) | 2026-01-31 to 2026-07-31 | USD 5.946 billion | USD 6.597 billion (2025-02-01 to 2025-08-01) | Form 10-Q, filed 2026-08-27 |
| Cash and cash equivalents | 2026-07-31 | USD 3.172 billion | USD 4.86 billion (2025-08-01) | Form 10-Q, filed 2026-08-27 |
| Reported share-based compensation | 2026-01-31 to 2026-07-31 | USD 132 million | USD 117 million (2025-02-01 to 2025-08-01) | Form 10-Q, filed 2026-08-27 |
Reporting dates, units and definitions appear with each observation.
Frequently asked questions
What should an investor check in the next LOW filing?
Check Pro growth and category-level demand alongside comparable margins and stock turns.
Does financial health settle the valuation question for Lowe's?
The stock price has its own hurdle. Use normalized big-ticket demand and an ordinary housing turnover scenario. Pro growth deserves additional valuation only if it earns competitive margins after supply-chain costs.
Related research
How do you verify voting rights and a proxy instruction prior to a shareholder meeting?
Discuss the research
Use the existing WhatsApp group button to discuss the evidence and compare your assumptions.
Sources
- Lowe's Form 10-Q, filed 2026-08-27
- Lowe's annual Form 10-K, filed 2026-03-23
- Lowe's SEC EDGAR Company Facts
Educational research. Investment values and income can decline. Scenario inputs are illustrative.