Lowes Companies
Lowes Companies returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2027 Q2 | Jul 31, 2026 | 34.36% | 34.46% | -0.46% | — | 12.96% | 26.7 pp |
| FY 2027 Q1 | May 1, 2026 | 33.51% | 35.43% | -0.77% | — | 13.24% | 25.8 pp |
| FY 2026 Q4 | Jan 30, 2026 | 31.84% | 34.4% | -2.43% | — | 13.68% | 24.1 pp |
| FY 2026 Q3 | Oct 31, 2025 | 32.63% | 34.65% | -0.83% | — | 13.81% | 24.9 pp |
| FY 2026 Q2 | Aug 1, 2025 | 43.21% | 39.97% | -19.73% | — | 14.98% | 35.5 pp |
| FY 2026 Q1 | May 2, 2025 | 42.92% | 42.2% | -128.71% | — | 15.08% | 35.2 pp |
| FY 2025 Q4 | Jan 31, 2025 | 40.33% | 41.39% | — | — | 16.39% | 32.6 pp |
| FY 2025 Q3 | Nov 1, 2024 | 41.04% | 40.23% | — | — | 15.71% | 33.3 pp |
| FY 2025 Q2 | Aug 2, 2024 | 44.22% | 39.12% | — | — | 15.5% | 36.5 pp |
| FY 2025 Q1 | May 3, 2024 | 44.79% | 41.56% | — | — | 15.82% | 37.1 pp |
| FY 2024 Q4 | Feb 2, 2024 | 45.81% | 45.84% | 96.63% | — | 18.07% | 38.1 pp |
| FY 2024 Q3 | Nov 3, 2023 | 46.91% | 44.41% | 59.15% | — | 17.13% | 39.2 pp |
| FY 2024 Q2 | Aug 4, 2023 | 37.53% | 36.8% | — | — | 13.25% | 29.8 pp |
| FY 2024 Q1 | May 5, 2023 | 38.65% | 37.16% | -737.56% | — | 13.31% | 31 pp |
| FY 2023 Q4 | Feb 3, 2023 | 38.98% | 41.32% | — | — | 14.57% | 31.3 pp |
| FY 2023 Q3 | Oct 28, 2022 | 41.31% | 37.7% | — | — | 13.88% | 33.6 pp |
| FY 2023 Q2 | Jul 29, 2022 | 47.85% | 44.99% | — | — | 17.53% | 40.1 pp |
| FY 2023 Q1 | Apr 29, 2022 | 51.37% | 43.24% | 54.19% | — | 16.75% | 43.7 pp |
| FY 2022 Q4 | Jan 28, 2022 | 48.83% | 45.65% | 731.08% | — | 18.48% | 41.1 pp |
| FY 2022 Q3 | Oct 29, 2021 | 48.99% | 39.3% | 226.57% | 655.35% | 16.38% | 41.3 pp |
| FY 2022 Q2 | Jul 30, 2021 | 50.02% | 38.37% | 44.99% | 333.99% | 13.86% | 42.3 pp |
| FY 2022 Q1 | Apr 30, 2021 | 47.87% | 39.06% | — | 628.51% | 14.06% | 40.2 pp |
| FY 2021 Q4 | Jan 29, 2021 | 37.22% | 36.9% | — | 340.92% | 13.54% | 29.5 pp |
| FY 2021 Q3 | Oct 30, 2020 | 36.5% | 32.42% | — | 163.71% | 11.84% | 28.8 pp |
| FY 2021 Q2 | Jul 31, 2020 | 38.33% | 30.64% | — | 163.04% | 12.38% | 30.6 pp |
| FY 2021 Q1 | May 1, 2020 | 28.93% | 26.02% | — | 184.05% | 10.27% | 21.2 pp |
| FY 2020 Q4 | Jan 31, 2020 | 24.08% | 28.51% | 171.45% | 151.99% | 11.57% | 16.4 pp |
| FY 2020 Q3 | Nov 1, 2019 | 17.63% | 20.66% | -348.15% | 74.83% | 7.71% | 9.9 pp |
| FY 2020 Q2 | Aug 2, 2019 | 15.81% | 17.67% | — | 59.85% | 6.5% | 8.1 pp |
| FY 2020 Q1 | May 3, 2019 | 14.88% | 16.57% | — | 52.67% | 5.82% | 7.2 pp |
| FY 2019 Q4 | Feb 1, 2019 | 13.16% | 18.6% | — | 48.48% | 6.63% | 5.5 pp |
| FY 2019 Q3 | Nov 2, 2018 | 20.54% | 25.43% | — | 66.11% | 10.04% | 12.8 pp |
| FY 2019 Q2 | Aug 3, 2018 | 22.25% | 27.53% | — | 69.33% | 10.67% | 14.6 pp |
| FY 2019 Q1 | May 4, 2018 | 21.42% | 28.61% | 197.23% | 67.77% | 10.11% | 13.7 pp |
| FY 2018 Q4 | Feb 2, 2018 | 18.86% | 28.87% | 93.52% | 55.84% | 9.89% | 11.2 pp |
| FY 2018 Q3 | Nov 3, 2017 | 20.25% | 29.52% | — | 57.14% | 9.86% | 12.5 pp |
| FY 2018 Q2 | Aug 4, 2017 | 18.32% | 26.54% | — | 48.71% | 8.37% | 10.6 pp |
| FY 2018 Q1 | May 5, 2017 | 18.45% | 25.31% | — | 43.65% | 7.51% | 10.7 pp |
| FY 2017 Q4 | Feb 3, 2017 | 16.77% | 27.06% | 36.53% | 43.47% | 9.41% | 9.1 pp |
| FY 2017 Q3 | Oct 28, 2016 | — | — | — | 32.44% | 7.07% | — |
| FY 2017 Q2 | Jul 29, 2016 | — | — | — | 35.72% | 8.08% | — |
| FY 2017 Q1 | Apr 29, 2016 | — | — | — | 32.9% | 7.7% | — |
| FY 2016 Q4 | Jan 29, 2016 | 14.05% | 22.99% | — | 28.76% | 8.07% | 6.4 pp |
| FY 2016 Q3 | Oct 30, 2015 | — | — | — | 31.1% | 8.82% | — |
| FY 2016 Q2 | Jul 31, 2015 | — | — | — | 28.3% | 8.6% | — |
| FY 2016 Q1 | May 1, 2015 | — | — | — | 26.07% | 8% | — |
| FY 2015 Q4 | Jan 30, 2015 | 14.11% | 20.68% | — | 24.58% | 8.36% | 6.4 pp |
| FY 2015 Q3 | Oct 31, 2014 | — | — | — | 21.71% | 7.5% | — |
| FY 2015 Q2 | Aug 1, 2014 | — | — | — | — | 7.42% | — |
| FY 2015 Q1 | May 2, 2014 | — | — | — | — | 6.87% | — |
| FY 2014 Q4 | Jan 31, 2014 | — | — | — | 17.66% | 6.99% | — |
| FY 2014 Q3 | Nov 1, 2013 | — | — | — | — | 6.67% | — |
| FY 2014 Q2 | Aug 2, 2013 | — | — | — | — | 6.33% | — |
| FY 2014 Q1 | May 3, 2013 | — | — | — | — | 5.48% | — |
| FY 2013 Q4 | Feb 1, 2013 | — | — | — | 12.8% | 5.92% | — |
| FY 2013 Q3 | Nov 2, 2012 | — | — | — | — | 5.87% | — |
| FY 2013 Q2 | Aug 3, 2012 | — | — | — | — | 5.27% | — |
| FY 2013 Q1 | May 4, 2012 | — | — | — | — | 5.21% | — |
| FY 2012 Q4 | Feb 3, 2012 | — | — | — | — | 5.47% | — |
| FY 2012 Q3 | Oct 28, 2011 | — | — | — | — | 5.28% | — |
| FY 2012 Q2 | Jul 29, 2011 | — | — | — | — | 5.77% | — |
| FY 2012 Q1 | Apr 29, 2011 | — | — | — | — | 5.41% | — |
| FY 2011 Q4 | Jan 28, 2011 | — | — | — | — | 6.03% | — |
| FY 2011 Q3 | Oct 29, 2010 | — | — | — | — | — | — |
| FY 2011 Q2 | Jul 30, 2010 | — | — | — | — | — | — |
| FY 2011 Q1 | Apr 30, 2010 | — | — | — | — | — | — |
| FY 2010 Q4 | Jan 29, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Oct 30, 2009 | — | — | — | — | — | — |
| FY 2010 Q2 | Jul 31, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · LOW, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.