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Lowe's Companies, Inc.

Home Improvement RetailFounded 1921
Reviewed by Swet Parvadiya
Company data updated: October 2026
Independent Editorial Analysis
5 historical events · Editorial analysis

Lowe's Company Profile: Revenue, Business Model & Strategy

Research depth: 5 milestones · 10 FAQs

Lowe's is a U.S. home improvement retailer founded in 1921 in North Wilkesboro, North Carolina. It reported $86.3B in FY2025 net sales, operated 1,761 stores in mid-2026, employs about 276,000 associates, and is led by Chairman and CEO Marvin R. Ellison.

How Lowe's makes money: Lowe's runs a store-based retail model serving two customer groups. DIY homeowners buy paint, appliances, outdoor and seasonal goods, often through Lowes.com, where online sales grew 15.7% in Q2 2026.

Revenue & employeesCEO historyFoundersBusiness model
Annual Revenue (FY2025)$86.3B
Employees276,000
CEOMarvin Ellison
Founded1921
IndustryHome Improvement Retail
By Swet ParvadiyaLast reviewed:
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Data sources: annual reports, SEC filings, methodology
Industry:Home Improvement Retail

Lowe's Companies, Inc. key figures

Lowe's Companies, Inc. had revenue of $86.3B for fiscal year 2025, up 3.1% from FY2024. Net income was $6.7B, a net margin of 7.7%.

Source: LOWES COMPANIES INC annual report (Form 10-K, SEC EDGAR, filed 2026-03-23) · Last reviewed October 2026

Revenue growth, FY2016 to FY2025
+3.2% a year
Compound annual rate, $65B to $86.3B
Peak revenue year
FY2022
$97.1B; the latest reported year is 11.1% below the peak
Revenue per employee
$312,630
FY2025 revenue divided by 276,000 employees; headcount may use another date
Current chief executive
Marvin Ellison
In the role since 2018 (8 years)
Documented transactions
6
Between 1999 and 2025
Founded
1921
105 years ago
Where was Lowe's founded?
Lowe's was founded in North Wilkesboro, North Carolina, United States in 1921. en.wikipedia.org
When did Lowe's start?
Lowe's was founded in 1921.
How old is Lowe's?
Lowe's is 105 years old as of 2026.
In-Depth Analysis
219 words · 2 min read

Lowe's began in 1921 when Lucius Smith Lowe opened North Wilkesboro Hardware in North Carolina. After World War II, son-in-law Carl Buchan narrowed the store to hardware and building materials to serve the post-war housing boom, took full control in 1952, and built a regional chain. Lowe's went public in 1961.

The big-box pivot

In the 1980s Home Depot's warehouse stores threatened Lowe's smaller Southern locations. Lowe's replaced them with big-box home centers designed to appeal to DIY homeowners, expanded nationally, and bought Eagle Hardware & Garden in 1999.

The DIY vs. Pro gap

Contractors visit often and buy in volume, so Home Depot's larger Pro business gave it higher sales and margins. Closing that gap has been Lowe's central strategic goal for two decades.

The Ellison reset

After pressure from activist investor D.E. Shaw, Lowe's hired former Home Depot executive Marvin Ellison as CEO in 2018. He closed Orchard Supply, exited Mexico, sold the Canadian business in 2023, and rebuilt technology and supply chain. Sales peaked at $97.1 billion in FY2022.

Buying into Pro distribution

In 2025 Lowe's acquired Artisan Design Group for $1.325 billion and Foundation Building Materials for about $8.8 billion. Those deals lifted Q2 FY2026 sales 8.3% to $26.0 billion even as comparable sales rose only 0.2%. Lowe's expects about $92.0 billion in FY2026 sales.

Table of Contents

Lowe's Companies, Inc. Key Facts

CompanyLowe's Companies, Inc.
Annual revenue change+3.1% (FY2024–FY2025)
Financials$86.3B (FY2025, last reviewed October 2026)
Market Cap$109.0B
FY2025 net income$6.7B
Last reviewedBy Swet Parvadiya, Founder & Editor - October 2026
Founded1921
Founder(s)Lucius Smith Lowe, Carl Buchan
CEOMarvin Ellison
HeadquartersMooresville, North Carolina, United States
IndustryHome Improvement Retail
Employees276,000+

Lowe's Company Profile: Revenue, Business Model & Strategy

"Lowe's is a home improvement retailer facing one core question: can a historically DIY-skewed chain win enough contractor spending, now with $10 billion of acquisitions behind it, to close the gap with Home Depot?"

Why Lowe's Companies, Inc. Wins

Lowe's wins because it combines a national store network, trusted brand, broad project assortment, local fulfillment, and growing Pro capabilities in categories that are difficult for pure e-commerce competitors to serve quickly.

Lowe's Companies, Inc. operates in a competitive market alongside The Home Depot, Inc., Walmart Inc., Amazon.com, Inc., Costco Wholesale Corporation, Wayfair, Target Corporation. Analysts frequently compare Lowe's Companies, Inc. and The Home Depot, Inc. due to their overlapping products, target markets, and strategic positioning. See full comparison →

Lowe's is a U.S. home improvement retailer founded in 1921 in North Wilkesboro, North Carolina. It reported $86.3B in FY2025 net sales, operated 1,761 stores in mid-2026, employs about 276,000 associates, and is led by Chairman and CEO Marvin R. Ellison.

Revenue

$86.3B

Founded

1921

Employees

276K+

Market Cap

$109.0B

Author: CorpDigest Research DeskCompany Research

Explore Lowe's In Depth

Detailed research across every dimension of Lowe's — history, financials, leadership, and strategy.

Company History

From a 1921 North Carolina hardware store to a 1,761-store national home improvement retailer.

Full Lowe's history →

Revenue & Financials

Lowe's had $86.3B in revenue for fiscal year 2025. Data covers 10 fiscal years. Market capitalization stands at approximately $109B.

Lowe's financials →

Founders

Lowe's was founded by Lucius Smith Lowe, Carl Buchan in 1921 in North Wilkesboro, North Carolina, United States. Explore each founder's background, motivations, and their role in building the company.

Lowe's founders →

CEO & Leadership

Lowe's is currently led by Marvin Ellison. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

Lowe's CEO history →

Business Model

Lowe's runs a store-based retail model serving two customer groups. DIY homeowners buy paint, appliances, outdoor and seasonal goods, often through Lowes.com, where online sales grew 15.7% in Q2 2026.

How Lowe's makes money →

Acquisitions

Lowe's has completed 6 documented acquisitions. Explore the full acquisition history and strategic rationale behind each deal.

Lowe's acquisitions →

Competitive Strategy

Lowe's 'Total Home' strategy focuses on Pro penetration, online sales, home services, appliances and localized assortments.

Lowe's strategy →

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 Research Profile

Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.

About the Author →Our Methodology →

Frequently Asked Questions About Lowe's

How does Lowe's make money?

Lowe's earns revenue by selling home improvement products, appliances and installed services to DIY homeowners and Pro contractors through about 1,760 stores and Lowes.com. Since 2025 it also earns distribution and installation revenue from Foundation Building Materials and Artisan Design Group. FY2025 net sales were $86.3 billion.

Who owns Lowe's?

Lowe's Companies, Inc. is a publicly traded company listed on the NYSE under the ticker LOW. It is owned by public shareholders, mostly institutional investors such as index fund managers; no single owner controls it. Its market value was roughly $109 billion in mid-September 2026.

Who is the CEO of Lowe's?

Marvin R. Ellison is Chairman, President and CEO of Lowe's. He became CEO in July 2018 after senior roles at The Home Depot and a stint as CEO of J.C. Penney. Brandon Sink is Executive Vice President and Chief Financial Officer.

Who are Lowe's main competitors?

Lowe's main competitor is The Home Depot. It also competes with Walmart, Amazon, Costco, Menards, Ace Hardware, Floor & Decor, Wayfair and, after buying FBM, building-material distributors such as GMS and L&W Supply.

What was Lowe's revenue in 2025 and 2026?

Lowe's reported $86.286 billion in FY2025 net sales (year ended January 30, 2026), up 3.1%, with $6.654 billion in net income. In FY2026, Q1 sales were $23.1 billion and Q2 sales were $26.0 billion, and the company expects about $92.0 billion for the full year.

What companies did Lowe's acquire in 2025?

Lowe's acquired Artisan Design Group for $1.325 billion, closing June 2, 2025, and Foundation Building Materials for about $8.8 billion, closing October 9, 2025. Both deals target home builders and large Pro contractors.

How many stores and employees does Lowe's have?

Lowe's operated 1,761 stores with 196.0 million square feet of selling space as of July 31, 2026. It employed about 276,000 full-time and part-time associates at the end of FY2025.

When and where was Lowe's founded?

Lowe's was founded in 1921 by Lucius Smith Lowe as North Wilkesboro Hardware in North Wilkesboro, North Carolina. Carl Buchan reshaped it into a building-materials chain after World War II. Its headquarters is now in Mooresville, North Carolina.

Are Home Depot and Lowe's owned by the same company?

No, Home Depot and Lowe's are two completely separate, fiercely competitive, publicly traded companies.

Who founded Lowe's?

The company traces its roots back to 1921 when Lucius Smith Lowe opened the first Lowe's North Wilkesboro Hardware store in North Carolina.

Analysis: How Lowe's Companies, Inc. Makes Money

Deep dive into the Lowe's Companies, Inc. business model, revenue streams, and strategic moats in 2026.

Competitor Benchmarking

Lowe's Companies, Inc. vs The Home Depot, Inc.

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Strategic Head-to-Head

Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->

Primary source: www.sec.gov/Archives/edgar/data/60667/000006066726000029/low

Explore More Brand Histories

This corporate intelligence report on Lowe's Companies, Inc. compiles data from verified filings. Explore more detailed brand histories and company histories in the global Home Improvement Retail marketplace.

Full Company Directory ->

Editorial Methodology

Company Research

We use company filings, annual reports, company statements and press reports, with primary sources preferred where available. Each financial row shows its recorded source. Full-year figures are separated from annualized run-rates, partial periods and forecasts; unaudited figures carry a label. Source detail varies by company, so check the linked material when the reporting basis matters.

1. Primary Sources

Public companies may provide filings and annual reports. Private-company figures may come from statements or press coverage. A missing figure stays missing, and a source link should identify where its number came from.

2. Expert Curation

We organize company records and review claims for strategic context, source quality and clarity. Pages show a review date where one is recorded.

3. Multi-Pass Audit

Technical checks flag inconsistent figures and missing links. Editorial review of the underlying source remains necessary for claims those checks cannot verify.

Swet Parvadiya
SEC filings & public records methodology
Sourced from public financial records

Explore Related Pages for Lowe's Companies, Inc.

History & FailuresTimeline, setbacks, and key milestonesBusiness ModelHow they make money and market productsFinancialsRevenue history and fiscal metricsCompetitive StrategyRivals, benchmarks, and SWOT analysis

Sources & References

The data and narrative synthesized in this intelligence report were verified against primary sources:

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.