Lowe's Companies Inc (NYSE: LOW) is a home improvement retail company that operates 1,759 Lowe's-branded retail stores and outlet stores across the United States. Revenue comes from transactional sales of home improvement products and services to individual homeowners, renters, and professional contractors, generated through in-store purchases, online channels, and fulfillment options including buy-online-pick-up-in-store. Lowe's competes directly with national home improvement warehouse chains as well as regional lumber yards, traditional hardware stores, and plumbing, electrical, and drywall supply retailers. Net sales were $86.3B in FY2025 (fiscal year ended January 30, 2026) and $83.7B in FY2024. Stores average approximately 112,000 square feet of retail selling space plus approximately 32,000 square feet of outdoor garden center space. In FY2025, Lowe's acquired FBM and ADG to extend its reach into larger professional customers in residential and commercial markets. Capital expenditures were $2.2B in FY2025. The company is a dividend payer, trades on the NYSE, and carries a debt-heavy capital structure with $6.97B in net debt issuance in FY2025.

Revenue model

Transactional retail sales of home improvement products and services across physical stores and digital channels. No disclosed subscription or membership fee component. Revenue is generated per-purchase from DIY consumers, do-it-for-me customers, and small-to-medium professional contractors.

Products and services

Home improvement products across categories including lumber, building materials, plumbing, electrical, drywall, hardware, paint, flooring, garden, and appliances. Services include contractor and installation offerings for DIFM customers. Outlet stores (16 locations as of the FY2025 10-K) sell discontinued, overstocked, and scratch-and-dent items. Digital channels include websites and mobile applications offering extended product assortment, how-to content, and multiple fulfillment options.

Customers and end markets

Three primary customer segments: individual homeowners and renters (DIY and DIFM), and professional contractors described as small-to-medium Pro customers spanning tradespeople, repair and remodelers, and property managers. With FBM and ADG acquisitions completed in FY2025, Lowe's also serves larger Pro customers in residential and commercial markets. Demand is driven by home price appreciation, housing stock age, housing turnover, real disposable personal income, and residential and commercial construction activity.

Value-chain role

Retailer and distributor sitting between domestic and international product manufacturers and end consumers. Sources products directly and indirectly from foreign and domestic vendors, with China and Mexico as dominant import sources. Operates its own store network, online platforms, and fulfillment infrastructure including buy-online-pick-up-in-store and curbside options.

Geographic exposure

United States. The 10-K filing does not describe material international retail operations. Import sourcing includes vendors in China and Mexico.

Competitors

The Home Depot, national home improvement warehouse chains, regional lumber yards, traditional hardware stores, plumbing supply retailers, electrical supply retailers, drywall and home supply retailers, online retailers

Source: SEC 10-K, filed 2026-03-23

Industry: Retail-Lumber & Other Building Materials Dealers Peers: GrowGeneration Corp Floor & Decor Holdings Inc Home Depot Inc LL Flooring Holdings, Inc. Tile Shop Holdings Inc