Lowe’s Credit Rating & NNN Cap Rate (2026)

Lowe’s Business Overview

Lowe’s is the world’s second-largest home improvement retailer, according to its 2025 Form 10‑K. As of January 30, 2026, it operated 1,759 home improvement stores and outlets in the United States, and more than 540 branch locations in the United States and Canada after acquiring Foundation Building Materials and Artisan Design Group in 2025. Sales were US$86.3 billion for the fiscal year ended January 30, 2026.

Lowe’s Credit Profile

Lowe's Companies, Inc. carries senior unsecured debt ratings of BBB+ (Stable outlook) from S&P Global Ratings and Baa1 (Stable outlook) from Moody’s: all investment grade (BBB-/Baa3 or higher). On S&P’s scale, the BBB category (BBB+, BBB and BBB‑) is the lowest of the four investment grade categories (AAA, AA, A and BBB); Moody’s equivalent is Baa (Baa1, Baa2 and Baa3). For comparison: The Home Depot, Inc. carries credit ratings of A from S&P Global Ratings, A2 (Stable outlook) from Moody’s and A (Stable outlook) from Fitch Ratings: all investment grade (BBB-/Baa3 or higher).

Ratings come from our tenant ratings database; the source and date of each rating are listed below. A rating at or above BBB‑/Baa3 is investment grade; see the investment grade guide.

Source: S&P Global Ratings BBB+, Stable, as of August 27, 2026; Moody’s Baa1, Stable, as of August 27, 2026. Ratings checked October 8, 2026.

Lowe’s NNN Cap Rates

Live asking cap rates for Lowe’s and comparable tenants:

Active listings InvestmentGrade.com tracks with an asking cap rate (stated in the listing, or computed from its stated income and price when no rate is stated), listings last observed October 19, 2026. Asking cap rates are not closed-sale cap rates. The middle half is the range from the 25th to the 75th percentile of listings. The 10-year Treasury yield is 5.24% as of October 1, 2026 (FRED series DGS10). Ratings are the agency ratings in our ratings database for the entity shown, which may be a parent company; the rating type (for example issuer, senior unsecured debt, long-term debt or revenue bond ratings) varies by company and is shown on each tenant page. A rating applies to a lease only if the rated entity signs or guarantees it, so confirm the tenant and any guarantor in the lease. n/a means no verified rating is on file.

Lowe’s owned about 89% of its stores as of January 30, 2026, including stores on leased land, with the remainder leased from third parties (Form 10‑K). Where Lowe’s owns a store on leased land, an investor who buys that ground lease owns the land, not the building; confirm the structure in the lease. With few current listings, a single listing can move the median. Compare a property with recent Lowe’s and Home Depot sales with similar lease structures.

What to Check in a Lowe’s Lease

• Tenant and guarantor: which entity signs the lease and whether the rated parent guarantees it.
• Term and rent: remaining term, renewal options and the rent schedule; rent increases vary by lease.
• Co-tenancy: for shopping center locations, co-tenancy and go-dark provisions.
• Re-use: the size of the box and the pool of possible replacement tenants.
• Rent versus market: whether rent is at or below market rent.

Pros and Cons

Sources: Lowe’s Companies, Inc. Form 10‑K for the fiscal year ended January 30, 2026; ratings from InvestmentGrade.com’s ratings database.