LOWE’S COMPANIES, INC. FY 2026 10-K, explained in plain English

Key financials — as reported

Total revenue	$86.3B
Gross margin	33.5%
Operating income	$10.2B
Net income	$6.7B
Diluted EPS	$11.85
Cash & equivalents	$982.0M
Total assets	$54.1B
Long-term debt	$39.8B

Key takeaway

Lowe's reported $86.3 billion in revenue and $6.65 billion in net income for the fiscal year ended January 30, 2026, amid an inflationary environment that the company says has pressured consumer discretionary spending on home improvement.

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Beneath the surface

Cash plunged 44% to $982 million while long-term debt stands at $39.8 billion, leaving Lowe's with a substantial net debt position of roughly $38.8 billion, a leverage profile not evident from the income-statement figures alone.

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