Lowe's Companies, Inc. stock research
FY2026 Q1
Lowe's Companies (LOW) Gross Margin & Quarterly History
Explore Lowe's Companies, Inc. (LOW) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended May 1, 2026 · FY2026 Q1
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin improved slightly from the prior quarter but weakened compared to the same quarter last year, as cost of revenue grew at a different pace relative to revenue.
- The strongest observable driver is the change in the relationship between revenue and cost of revenue. Compared to the prior quarter, revenue grew faster than cost of revenue, supporting margin improvement; compared to the same quarter last year, cost of revenue grew faster than revenue, compressing margin.
- Sequentially, gross margin improved modestly from the prior quarter. Year-over-year, gross margin declined from the same quarter last year.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
32.7%
Gross profit
$7.5B
Revenue
$23.1B
Cost of revenue
$15.5B
Quarter-over-quarter change
+0.2 pts
Year-over-year change
-0.7 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Aug 1, 2025 | $24.0B | $8.1B | $15.9B | 33.8% |
| Oct 31, 2025 | $20.8B | $7.1B | $13.7B | 34.2% |
| Jan 30, 2026 | $20.6B | $6.7B | $13.9B | 32.5% |
| May 1, 2026 | $23.1B | $7.5B | $15.5B | 32.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jan 30, 2026
+0.2 pts
Year-over-year change
May 2, 2025
-0.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver is the change in the relationship between revenue and cost of revenue. Compared to the prior quarter, revenue grew faster than cost of revenue, supporting margin improvement; compared to the same quarter last year, cost of revenue grew faster than revenue, compressing margin.
Sequentially, gross margin improved modestly from the prior quarter. Year-over-year, gross margin declined from the same quarter last year.
Monitor the trajectory of cost of revenue relative to revenue, particularly in light of trade policy changes and tariffs highlighted in the risk factors.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Lowe's Companies, Inc. (LOW) | 32.7% |