The Home Depot, Inc. (HD) 10-Year Financial Performance & Capital Metrics

HD •

Consumer CyclicalHome Improvement RetailHome improvement and flooring retailers

AboutThe Home Depot, Inc. operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows. In addition, it provides tool and equipment rental services. The company primarily serves homeowners; and professional renovators/remodelers, general contractors, maintenance professionals, handymen, property managers, building service contractors, and specialty tradesmen, such as electricians, plumbers, and painters. It also sells its products through websites, including homedepot.com; blinds.com, an online site for custom window coverings; and thecompanystore.com, an online site for textiles and décor products. As of December 31, 2021, the company operated 2,317 stores in the United States. The Home Depot, Inc. was incorporated in 1978 and is based in Atlanta, Georgia.Show more

Revenue $164.68B +3.2%
EBITDA $24.16B -4.4%
Net Income $14.16B -4.4%
EPS (Diluted) 14.23 -4.6%
Gross Margin 33.32% -0.3%
EBITDA Margin 14.67% -7.4%
Operating Margin 12.68% -6.0%
Net Margin 8.6% -7.4%
ROE 145.54% -62.2%
ROIC 32.07% +16.0%
Debt/Equity 1.48 -84.2%
Interest Coverage 8.66 -6.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 564.4%
✓16 consecutive years of dividend growth
✓Healthy dividend yield of 2.4%
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

✗Expensive at 29.6x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.4%

5Y4.51%

3Y1.52%

TTM3.24%

Profit (Net Income) CAGR

10Y7.28%

5Y1.93%

3Y-6.11%

TTM-4.39%

EPS CAGR

10Y10.05%

5Y3.57%

3Y-5.18%

TTM-4.62%

ROCE

10Y Avg45.75%

5Y Avg41.2%

3Y Avg35.11%

Latest29.82%

Peer Comparison

Home improvement and flooring retailers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PFAIPinnacle Food Group Limited Class A Common Shares	17.31M	2.25	106.64	56.6%	8.7%	61.33%		0.35
FNDFloor & Decor Holdings, Inc.	7.44B	69.09	35.98	5.12%	4.65%	9.18%	0.86%	0.75
HDThe Home Depot, Inc.	378.44B	380.72	26.75	3.24%	8.6%	110.48%	3.34%	1.48
LOWLowe's Companies, Inc.	148.16B	264.57	22.33	3.12%	7.71%		5.16%
LIVELive Ventures Incorporated	42.88M	13.96	2.83	-5.9%	5.02%	23.28%	48.92%	2.27
LESLLeslie's, Inc.	10.25M	1.10	-0.04	-6.63%	-22.69%
TTSHTile Shop Holdings, Inc.	133.4M	3.35	-33.50	-2.95%	-1.33%	-5.15%		1.55

Profit & Loss

	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025	Feb 2026
Sales/Revenue+	94.59B	100.9B	108.2B	110.22B	132.11B	151.16B	157.4B	152.67B	159.51B	164.68B
Revenue Growth %	6.86%	6.67%	7.23%	1.87%	19.85%	14.42%	4.13%	-3.01%	4.48%	3.24%
Cost of Goods Sold+	62.28B	66.55B	71.04B	72.65B	87.26B	100.33B	104.63B	101.71B	106.21B	109.82B
COGS % of Revenue	65.84%	65.95%	65.66%	65.91%	66.05%	66.37%	66.47%	66.62%	66.58%	66.68%
Gross Profit+	32.31B	34.36B	37.16B	37.57B	44.85B	50.83B	52.78B	50.96B	53.31B	54.87B
Gross Margin %	34.16%	34.05%	34.34%	34.09%	33.95%	33.63%	33.53%	33.38%	33.42%	33.32%
Gross Profit Growth %	6.77%	6.32%	8.16%	1.11%	19.38%	13.33%	3.83%	-3.44%	4.61%	2.92%
Operating Expenses+	18.89B	19.68B	21.63B	21.73B	26.57B	27.79B	28.74B	29.27B	31.78B	33.98B
OpEx % of Revenue	19.97%	19.5%	19.99%	19.71%	20.12%	18.39%	18.26%	19.17%	19.92%	20.63%
Selling, General & Admin	17.13B	17.86B	19.51B	19.74B	24.45B	25.41B	26.28B	26.6B	28.75B	30.7B
SG&A % of Revenue	18.11%	17.7%	18.03%	17.91%	18.5%	16.81%	16.7%	17.42%	18.02%	18.64%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.75B	1.81B	2.12B	1.99B	2.13B	2.39B	2.46B	2.67B	3.03B	3.27B
Operating Income+	13.43B	14.68B	15.53B	15.84B	18.28B	23.04B	24.04B	21.69B	21.53B	20.89B
Operating Margin %	14.19%	14.55%	14.35%	14.37%	13.84%	15.24%	15.27%	14.21%	13.49%	12.68%
Operating Income Growth %	14.04%	9.34%	5.78%	2.02%	15.37%	26.05%	4.34%	-9.78%	-0.75%	-2.95%
EBITDA+	15.4B	16.74B	17.68B	18.14B	20.8B	25.9B	27.01B	24.94B	25.29B	24.16B
EBITDA Margin %	16.28%	16.59%	16.34%	16.46%	15.74%	17.14%	17.16%	16.33%	15.85%	14.67%
EBITDA Growth %	12.93%	8.72%	5.61%	2.58%	14.65%	24.55%	4.29%	-7.69%	1.41%	-4.45%
D&A (Non-Cash Add-back)	1.97B	2.06B	2.15B	2.3B	2.52B	2.86B	2.98B	3.25B	3.76B	3.27B
EBIT	13.43B	14.76B	15.78B	15.84B	18.28B	23.04B	24.04B	21.87B	21.73B	21.01B
Net Interest Income+	-936M	-983M	-958M	-1.13B	-1.3B	-1.3B	-1.56B	-1.76B	-2.12B	-2.27B
Interest Income	36M	74M	93M	73M	47M	44M	55M	178M	201M	141M
Interest Expense	972M	1.06B	1.05B	1.2B	1.35B	1.35B	1.62B	1.94B	2.32B	2.41B
Other Income/Expense	-936M	-983M	-974M	-1.13B	-1.3B	-1.3B	-1.56B	-1.76B	-2.12B	-2.29B
Pretax Income+	12.49B	13.7B	14.56B	14.71B	16.98B	21.74B	22.48B	19.92B	19.41B	18.6B
Pretax Margin %	13.2%	13.58%	13.45%	13.35%	12.85%	14.38%	14.28%	13.05%	12.17%	11.3%
Income Tax+	4.53B	5.07B	3.44B	3.47B	4.11B	5.3B	5.37B	4.78B	4.6B	4.45B
Effective Tax Rate %	63.7%	63%	76.4%	76.4%	75.78%	75.6%	76.1%	76%	76.3%	76.1%
Net Income+	7.96B	8.63B	11.12B	11.24B	12.87B	16.43B	17.11B	15.14B	14.81B	14.16B
Net Margin %	8.41%	8.55%	10.28%	10.2%	9.74%	10.87%	10.87%	9.92%	9.28%	8.6%
Net Income Growth %	13.53%	8.46%	28.86%	1.09%	14.45%	27.72%	4.09%	-11.47%	-2.23%	-4.39%
Net Income (Continuing)	7.96B	8.63B	11.12B	11.24B	12.87B	16.43B	17.11B	15.14B	14.81B	14.16B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	6.45	7.29	9.73	10.25	11.94	15.53	16.69	15.11	14.91	14.23
EPS Growth %	18.13%	13.02%	33.47%	5.34%	16.49%	30.07%	7.47%	-9.47%	-1.32%	-4.56%
EPS (Basic)	6.47	7.33	9.78	10.29	11.98	15.59	16.74	15.16	14.96	14.27
Diluted Shares Outstanding	1.23B	1.18B	1.14B	1.1B	1.08B	1.06B	1.02B	1B	993M	997M
Basic Shares Outstanding	1.23B	1.18B	1.14B	1.09B	1.07B	1.05B	1.02B	999M	990M	993M
Dividend Payout Ratio	42.78%	48.81%	42.3%	53%	50.14%	42.51%	45.54%	55.36%	60.31%	64.65%

Balance Sheet

	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025	Feb 2026
Total Current Assets+	17.72B	18.93B	18.53B	19.81B	28.48B	29.05B	32.47B	29.77B	31.68B	34.39B
Cash & Short-Term Investments	2.54B	3.6B	1.78B	2.13B	7.89B	2.34B	2.76B	3.76B	1.66B	1.39B
Cash Only	2.54B	3.6B	1.78B	2.13B	7.89B	2.34B	2.76B	3.76B	1.66B	1.39B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	2.03B	1.95B	1.94B	2.11B	2.99B	3.43B	3.32B	3.33B	4.9B	5.6B
Days Sales Outstanding	7.83	7.06	6.53	6.97	8.27	8.27	7.69	7.96	11.22	12.41
Inventory	12.55B	12.75B	13.93B	14.53B	16.63B	22.07B	24.89B	20.98B	23.45B	25.82B
Days Inventory Outstanding	73.54	69.92	71.54	73	69.55	80.29	86.82	75.28	80.59	85.81
Other Current Assets	608M	638M	890M	1.04B	963M	1.22B	1.51B	1.71B	1.67B	1.59B
Total Non-Current Assets+	25.24B	25.6B	25.47B	31.43B	42.1B	42.82B	43.97B	46.76B	64.44B	70.7B
Property, Plant & Equipment	21.91B	22.07B	22.38B	28.36B	30.67B	31.17B	32.57B	34.04B	35.29B	37.23B
Fixed Asset Turnover	4.32x	4.57x	4.84x	3.89x	4.31x	4.85x	4.83x	4.49x	4.52x	4.42x
Goodwill	2.09B	2.27B	2.25B	2.25B	7.13B	7.45B	7.44B	8.46B	19.48B	22.34B
Intangible Assets	0	0	0	0	0	0	0	3.61B	8.98B	10.33B
Long-Term Investments	0	0	0	0	172M	58M	0	0	0	0
Other Non-Current Assets	1.24B	1.25B	847M	668M	3.83B	3.8B	3.96B	656M	684M	806M
Total Assets+	42.97B	44.53B	44B	51.24B	70.58B	71.88B	76.44B	76.53B	96.12B	105.09B
Asset Turnover	2.20x	2.27x	2.46x	2.15x	1.87x	2.10x	2.06x	1.99x	1.66x	1.57x
Asset Growth %	2.37%	3.64%	-1.18%	16.44%	37.76%	1.83%	6.36%	0.11%	25.6%	9.34%
Total Current Liabilities+	14.13B	16.19B	16.72B	18.38B	23.17B	28.69B	23.11B	22.02B	28.66B	32.42B
Accounts Payable	7B	7.24B	7.75B	7.79B	11.61B	13.46B	11.44B	10.04B	11.94B	11.49B
Days Payables Outstanding	41.02	39.73	39.84	39.12	48.55	48.98	39.92	36.02	41.03	38.19
Short-Term Debt	1.25B	2.76B	2.4B	2.81B	1.42B	3.48B	1.23B	1.37B	4.9B	10.85B
Deferred Revenue (Current)	1.67B	1.8B	1.78B	2.12B	2.82B	3.6B	3.06B	2.76B	2.61B	0
Other Current Liabilities	0	0	0	0	0	0	0	0	0	10.08B
Current Ratio	1.25x	1.17x	1.11x	1.08x	1.23x	1.01x	1.41x	1.35x	1.11x	1.06x
Quick Ratio	0.37x	0.38x	0.28x	0.29x	0.51x	0.24x	0.33x	0.40x	0.29x	0.26x
Cash Conversion Cycle	40.35	37.25	38.23	40.85	29.27	39.58	54.59	47.21	50.79	60.02
Total Non-Current Liabilities+	24.5B	26.88B	29.16B	35.98B	44.12B	44.88B	51.77B	53.47B	60.82B	59.86B
Long-Term Debt	22.35B	24.27B	26.81B	28.67B	35.82B	36.6B	41.96B	42.74B	48.48B	8.16B
Capital Lease Obligations	0	0	0	5.07B	5.36B	5.35B	6.23B	7.08B	7.63B	0
Deferred Tax Liabilities	296M	440M	491M	706M	1.13B	909M	1.02B	863M	1.96B	0
Other Non-Current Liabilities	1.85B	2.17B	1.87B	1.53B	1.81B	2.01B	2.57B	2.78B	2.74B	51.7B
Total Liabilities	38.63B	43.08B	45.88B	54.35B	67.28B	73.57B	74.88B	75.49B	89.48B	92.28B
Total Debt+	23.6B	27.03B	29.2B	37.38B	43.42B	46.27B	50.36B	52.24B	62.29B	19.01B
Net Debt	21.06B	23.43B	27.42B	35.24B	35.53B	43.93B	47.61B	48.48B	60.63B	17.62B
Debt / Equity	5.45x	18.59x	-	-	13.16x	-	32.24x	50.04x	9.38x	1.48x
Debt / EBITDA	1.53x	1.61x	1.65x	2.06x	2.09x	1.79x	1.86x	2.10x	2.46x	0.79x
Net Debt / EBITDA	1.37x	1.40x	1.55x	1.94x	1.71x	1.70x	1.76x	1.94x	2.40x	0.73x
Interest Coverage	13.81x	13.89x	14.78x	13.19x	13.57x	17.10x	14.87x	11.16x	9.27x	8.66x
Total Equity+	4.33B	1.45B	-1.88B	-3.12B	3.3B	-1.7B	1.56B	1.04B	6.64B	12.81B
Equity Growth %	-31.4%	-66.44%	-229.16%	-65.92%	205.87%	-151.41%	192.1%	-33.16%	536.02%	92.97%
Book Value per Share	3.51	1.23	-1.64	-2.84	3.06	-1.60	1.52	1.04	6.69	12.85
Total Shareholders' Equity	4.33B	1.45B	-1.88B	-3.12B	3.3B	-1.7B	1.56B	1.04B	6.64B	12.81B
Common Stock	88M	89M	89M	89M	89M	90M	90M	90M	90M	0
Retained Earnings	35.52B	39.94B	46.42B	51.73B	58.13B	67.58B	76.9B	83.66B	89.53B	0
Treasury Stock	-40.19B	-48.2B	-58.2B	-65.2B	-65.79B	-80.79B	-87.3B	-95.37B	-95.97B	0
Accumulated OCI	-867M	-566M	-772M	-739M	-671M	-704M	-718M	-477M	-1.13B	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025	Feb 2026
Cash from Operations+	9.78B	12.03B	13.16B	13.69B	18.84B	16.57B	14.62B	21.17B	19.81B	16.32B
Operating CF Margin %	10.34%	11.92%	12.17%	12.42%	14.26%	10.96%	9.29%	13.87%	12.42%	9.91%
Operating CF Growth %	4.37%	22.98%	9.43%	3.97%	37.64%	-12.04%	-11.8%	44.86%	-6.43%	-17.59%
Net Income	7.96B	8.63B	11.12B	11.24B	12.87B	16.43B	17.11B	15.14B	14.81B	14.16B
Depreciation & Amortization	1.97B	2.06B	2.15B	2.3B	2.52B	2.86B	2.98B	3.25B	3.76B	4.12B
Stock-Based Compensation	267M	273M	282M	251M	310M	399M	366M	380M	442M	522M
Deferred Taxes	-117M	92M	26M	202M	-569M	-276M	0	0	0	418M
Other Non-Cash Items	121M	328M	118M	-18M	690M	472M	271M	314M	107M	192M
Working Capital Changes	-418M	646M	-534M	-286M	3.02B	-3.32B	-6.1B	2.09B	694M	-3.08B
Change in Receivables	-138M	139M	33M	-170M	-465M	-435M	111M	134M	174M	0
Change in Inventory	-769M	-84M	-1.24B	-593M	-1.66B	-5.4B	-2.83B	4.14B	-743M	0
Change in Payables	446M	352M	870M	32M	5.12B	2.4B	-2.58B	-1.41B	518M	0
Cash from Investing+	-1.58B	-2.23B	-2.42B	-2.65B	-10.17B	-2.97B	-3.14B	-4.73B	-21.03B	-8.98B
Capital Expenditures	-1.62B	-1.9B	-2.44B	-2.68B	-2.46B	-2.57B	-3.12B	-3.23B	-3.48B	-3.68B
CapEx % of Revenue	1.71%	1.88%	2.26%	2.43%	1.86%	1.7%	1.98%	2.11%	2.18%	2.23%
Acquisitions	0	-374M	-21M	0	-7.78B	-421M	0	-1.51B	-17.64B	-5.41B
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	38M	43M	47M	25M	73M	18M	-21M	11M	98M	109M
Cash from Financing+	-7.87B	-8.87B	-12.55B	-10.83B	-2.98B	-19.12B	-10.99B	-15.44B	-694M	-7.71B
Debt Issued (Net)	2.27B	3.3B	2.04B	1.99B	4.09B	2.48B	3.42B	724M	8.79B	1.27B
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K
Dividends Paid	-3.4B	-4.21B	-4.7B	-5.96B	-6.45B	-6.99B	-7.79B	-8.38B	-8.93B	-9.15B
Share Repurchases	-6.88B	-8B	-9.96B	-6.96B	-791M	-14.81B	-6.7B	-7.95B	-649M	0
Other Financing	140M	44M	-153M	-176M	-154M	192M	-188M	167M	-301M	-145M
Net Change in Cash	322M	1.06B	-1.82B	355M	5.76B	-5.55B	414M	1B	-2.1B	-270M
Free Cash Flow+	8.16B	10.13B	10.72B	11.04B	16.38B	14.01B	11.5B	17.95B	16.32B	12.65B
FCF Margin %	8.63%	10.04%	9.91%	10.02%	12.4%	9.27%	7.3%	11.75%	10.23%	7.68%
FCF Growth %	3.71%	24.16%	5.81%	3%	48.27%	-14.48%	-17.91%	56.11%	-9.03%	-22.54%
FCF per Share	6.61	8.56	9.38	10.07	15.19	13.24	11.22	17.91	16.44	12.68
FCF Conversion (FCF/Net Income)	1.23x	1.39x	1.18x	1.22x	1.46x	1.01x	0.85x	1.40x	1.34x	1.15x
Interest Paid	924M	991M	1.03B	1.11B	1.24B	1.27B	1.45B	1.81B	2.2B	0
Taxes Paid	4.62B	4.73B	3.77B	3.22B	4.65B	5.5B	5.43B	5.02B	3.65B	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	149.44%	298.25%	-	-	14061.2%	2050.28%	1095.07%	1162.16%	385.37%	145.54%
Return on Invested Capital (ROIC)	39.72%	43.8%	46.19%	41.2%	38.64%	42.64%	39.45%	32.96%	27.65%	32.07%
Gross Margin	34.16%	34.05%	34.34%	34.09%	33.95%	33.63%	33.53%	33.38%	33.42%	33.32%
Net Margin	8.41%	8.55%	10.28%	10.2%	9.74%	10.87%	10.87%	9.92%	9.28%	8.6%
Debt / Equity	5.45x	18.59x	-	-	13.16x	-	32.24x	50.04x	9.38x	1.48x
Interest Coverage	13.81x	13.89x	14.78x	13.19x	13.57x	17.10x	14.87x	11.16x	9.27x	8.66x
FCF Conversion	1.23x	1.39x	1.18x	1.22x	1.46x	1.01x	0.85x	1.40x	1.34x	1.15x
Revenue Growth	6.86%	6.67%	7.23%	1.87%	19.85%	14.42%	4.13%	-3.01%	4.48%	3.24%

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The Home Depot, Inc. (HD) 10-Year Financial Performance & Capital Metrics

HD •

Consumer CyclicalHome Improvement RetailHome improvement and flooring retailers

Revenue $164.68B +3.2%
EBITDA $24.16B -4.4%
Net Income $14.16B -4.4%
EPS (Diluted) 14.23 -4.6%
Gross Margin 33.32% -0.3%
EBITDA Margin 14.67% -7.4%
Operating Margin 12.68% -6.0%
Net Margin 8.6% -7.4%
ROE 145.54% -62.2%
ROIC 32.07% +16.0%
Debt/Equity 1.48 -84.2%
Interest Coverage 8.66 -6.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 564.4%
✓16 consecutive years of dividend growth
✓Healthy dividend yield of 2.4%
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

✗Expensive at 29.6x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.4%

5Y4.51%

3Y1.52%

TTM3.24%

Profit (Net Income) CAGR

10Y7.28%

5Y1.93%

3Y-6.11%

TTM-4.39%

EPS CAGR

10Y10.05%

5Y3.57%

3Y-5.18%

TTM-4.62%

ROCE

10Y Avg45.75%

5Y Avg41.2%

3Y Avg35.11%

Latest29.82%

Peer Comparison

Home improvement and flooring retailers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PFAIPinnacle Food Group Limited Class A Common Shares	17.31M	2.25	106.64	56.6%	8.7%	61.33%		0.35
FNDFloor & Decor Holdings, Inc.	7.44B	69.09	35.98	5.12%	4.65%	9.18%	0.86%	0.75
HDThe Home Depot, Inc.	378.44B	380.72	26.75	3.24%	8.6%	110.48%	3.34%	1.48
LOWLowe's Companies, Inc.	148.16B	264.57	22.33	3.12%	7.71%		5.16%
LIVELive Ventures Incorporated	42.88M	13.96	2.83	-5.9%	5.02%	23.28%	48.92%	2.27
LESLLeslie's, Inc.	10.25M	1.10	-0.04	-6.63%	-22.69%
TTSHTile Shop Holdings, Inc.	133.4M	3.35	-33.50	-2.95%	-1.33%	-5.15%		1.55

Profit & Loss

	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025	Feb 2026
Sales/Revenue+	94.59B	100.9B	108.2B	110.22B	132.11B	151.16B	157.4B	152.67B	159.51B	164.68B
Revenue Growth %	6.86%	6.67%	7.23%	1.87%	19.85%	14.42%	4.13%	-3.01%	4.48%	3.24%
Cost of Goods Sold+	62.28B	66.55B	71.04B	72.65B	87.26B	100.33B	104.63B	101.71B	106.21B	109.82B
COGS % of Revenue	65.84%	65.95%	65.66%	65.91%	66.05%	66.37%	66.47%	66.62%	66.58%	66.68%
Gross Profit+	32.31B	34.36B	37.16B	37.57B	44.85B	50.83B	52.78B	50.96B	53.31B	54.87B
Gross Margin %	34.16%	34.05%	34.34%	34.09%	33.95%	33.63%	33.53%	33.38%	33.42%	33.32%
Gross Profit Growth %	6.77%	6.32%	8.16%	1.11%	19.38%	13.33%	3.83%	-3.44%	4.61%	2.92%
Operating Expenses+	18.89B	19.68B	21.63B	21.73B	26.57B	27.79B	28.74B	29.27B	31.78B	33.98B
OpEx % of Revenue	19.97%	19.5%	19.99%	19.71%	20.12%	18.39%	18.26%	19.17%	19.92%	20.63%
Selling, General & Admin	17.13B	17.86B	19.51B	19.74B	24.45B	25.41B	26.28B	26.6B	28.75B	30.7B
SG&A % of Revenue	18.11%	17.7%	18.03%	17.91%	18.5%	16.81%	16.7%	17.42%	18.02%	18.64%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.75B	1.81B	2.12B	1.99B	2.13B	2.39B	2.46B	2.67B	3.03B	3.27B
Operating Income+	13.43B	14.68B	15.53B	15.84B	18.28B	23.04B	24.04B	21.69B	21.53B	20.89B
Operating Margin %	14.19%	14.55%	14.35%	14.37%	13.84%	15.24%	15.27%	14.21%	13.49%	12.68%
Operating Income Growth %	14.04%	9.34%	5.78%	2.02%	15.37%	26.05%	4.34%	-9.78%	-0.75%	-2.95%
EBITDA+	15.4B	16.74B	17.68B	18.14B	20.8B	25.9B	27.01B	24.94B	25.29B	24.16B
EBITDA Margin %	16.28%	16.59%	16.34%	16.46%	15.74%	17.14%	17.16%	16.33%	15.85%	14.67%
EBITDA Growth %	12.93%	8.72%	5.61%	2.58%	14.65%	24.55%	4.29%	-7.69%	1.41%	-4.45%
D&A (Non-Cash Add-back)	1.97B	2.06B	2.15B	2.3B	2.52B	2.86B	2.98B	3.25B	3.76B	3.27B
EBIT	13.43B	14.76B	15.78B	15.84B	18.28B	23.04B	24.04B	21.87B	21.73B	21.01B
Net Interest Income+	-936M	-983M	-958M	-1.13B	-1.3B	-1.3B	-1.56B	-1.76B	-2.12B	-2.27B
Interest Income	36M	74M	93M	73M	47M	44M	55M	178M	201M	141M
Interest Expense	972M	1.06B	1.05B	1.2B	1.35B	1.35B	1.62B	1.94B	2.32B	2.41B
Other Income/Expense	-936M	-983M	-974M	-1.13B	-1.3B	-1.3B	-1.56B	-1.76B	-2.12B	-2.29B
Pretax Income+	12.49B	13.7B	14.56B	14.71B	16.98B	21.74B	22.48B	19.92B	19.41B	18.6B
Pretax Margin %	13.2%	13.58%	13.45%	13.35%	12.85%	14.38%	14.28%	13.05%	12.17%	11.3%
Income Tax+	4.53B	5.07B	3.44B	3.47B	4.11B	5.3B	5.37B	4.78B	4.6B	4.45B
Effective Tax Rate %	63.7%	63%	76.4%	76.4%	75.78%	75.6%	76.1%	76%	76.3%	76.1%
Net Income+	7.96B	8.63B	11.12B	11.24B	12.87B	16.43B	17.11B	15.14B	14.81B	14.16B
Net Margin %	8.41%	8.55%	10.28%	10.2%	9.74%	10.87%	10.87%	9.92%	9.28%	8.6%
Net Income Growth %	13.53%	8.46%	28.86%	1.09%	14.45%	27.72%	4.09%	-11.47%	-2.23%	-4.39%
Net Income (Continuing)	7.96B	8.63B	11.12B	11.24B	12.87B	16.43B	17.11B	15.14B	14.81B	14.16B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	6.45	7.29	9.73	10.25	11.94	15.53	16.69	15.11	14.91	14.23
EPS Growth %	18.13%	13.02%	33.47%	5.34%	16.49%	30.07%	7.47%	-9.47%	-1.32%	-4.56%
EPS (Basic)	6.47	7.33	9.78	10.29	11.98	15.59	16.74	15.16	14.96	14.27
Diluted Shares Outstanding	1.23B	1.18B	1.14B	1.1B	1.08B	1.06B	1.02B	1B	993M	997M
Basic Shares Outstanding	1.23B	1.18B	1.14B	1.09B	1.07B	1.05B	1.02B	999M	990M	993M
Dividend Payout Ratio	42.78%	48.81%	42.3%	53%	50.14%	42.51%	45.54%	55.36%	60.31%	64.65%

Balance Sheet

	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025	Feb 2026
Total Current Assets+	17.72B	18.93B	18.53B	19.81B	28.48B	29.05B	32.47B	29.77B	31.68B	34.39B
Cash & Short-Term Investments	2.54B	3.6B	1.78B	2.13B	7.89B	2.34B	2.76B	3.76B	1.66B	1.39B
Cash Only	2.54B	3.6B	1.78B	2.13B	7.89B	2.34B	2.76B	3.76B	1.66B	1.39B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	2.03B	1.95B	1.94B	2.11B	2.99B	3.43B	3.32B	3.33B	4.9B	5.6B
Days Sales Outstanding	7.83	7.06	6.53	6.97	8.27	8.27	7.69	7.96	11.22	12.41
Inventory	12.55B	12.75B	13.93B	14.53B	16.63B	22.07B	24.89B	20.98B	23.45B	25.82B
Days Inventory Outstanding	73.54	69.92	71.54	73	69.55	80.29	86.82	75.28	80.59	85.81
Other Current Assets	608M	638M	890M	1.04B	963M	1.22B	1.51B	1.71B	1.67B	1.59B
Total Non-Current Assets+	25.24B	25.6B	25.47B	31.43B	42.1B	42.82B	43.97B	46.76B	64.44B	70.7B
Property, Plant & Equipment	21.91B	22.07B	22.38B	28.36B	30.67B	31.17B	32.57B	34.04B	35.29B	37.23B
Fixed Asset Turnover	4.32x	4.57x	4.84x	3.89x	4.31x	4.85x	4.83x	4.49x	4.52x	4.42x
Goodwill	2.09B	2.27B	2.25B	2.25B	7.13B	7.45B	7.44B	8.46B	19.48B	22.34B
Intangible Assets	0	0	0	0	0	0	0	3.61B	8.98B	10.33B
Long-Term Investments	0	0	0	0	172M	58M	0	0	0	0
Other Non-Current Assets	1.24B	1.25B	847M	668M	3.83B	3.8B	3.96B	656M	684M	806M
Total Assets+	42.97B	44.53B	44B	51.24B	70.58B	71.88B	76.44B	76.53B	96.12B	105.09B
Asset Turnover	2.20x	2.27x	2.46x	2.15x	1.87x	2.10x	2.06x	1.99x	1.66x	1.57x
Asset Growth %	2.37%	3.64%	-1.18%	16.44%	37.76%	1.83%	6.36%	0.11%	25.6%	9.34%
Total Current Liabilities+	14.13B	16.19B	16.72B	18.38B	23.17B	28.69B	23.11B	22.02B	28.66B	32.42B
Accounts Payable	7B	7.24B	7.75B	7.79B	11.61B	13.46B	11.44B	10.04B	11.94B	11.49B
Days Payables Outstanding	41.02	39.73	39.84	39.12	48.55	48.98	39.92	36.02	41.03	38.19
Short-Term Debt	1.25B	2.76B	2.4B	2.81B	1.42B	3.48B	1.23B	1.37B	4.9B	10.85B
Deferred Revenue (Current)	1.67B	1.8B	1.78B	2.12B	2.82B	3.6B	3.06B	2.76B	2.61B	0
Other Current Liabilities	0	0	0	0	0	0	0	0	0	10.08B
Current Ratio	1.25x	1.17x	1.11x	1.08x	1.23x	1.01x	1.41x	1.35x	1.11x	1.06x
Quick Ratio	0.37x	0.38x	0.28x	0.29x	0.51x	0.24x	0.33x	0.40x	0.29x	0.26x
Cash Conversion Cycle	40.35	37.25	38.23	40.85	29.27	39.58	54.59	47.21	50.79	60.02
Total Non-Current Liabilities+	24.5B	26.88B	29.16B	35.98B	44.12B	44.88B	51.77B	53.47B	60.82B	59.86B
Long-Term Debt	22.35B	24.27B	26.81B	28.67B	35.82B	36.6B	41.96B	42.74B	48.48B	8.16B
Capital Lease Obligations	0	0	0	5.07B	5.36B	5.35B	6.23B	7.08B	7.63B	0
Deferred Tax Liabilities	296M	440M	491M	706M	1.13B	909M	1.02B	863M	1.96B	0
Other Non-Current Liabilities	1.85B	2.17B	1.87B	1.53B	1.81B	2.01B	2.57B	2.78B	2.74B	51.7B
Total Liabilities	38.63B	43.08B	45.88B	54.35B	67.28B	73.57B	74.88B	75.49B	89.48B	92.28B
Total Debt+	23.6B	27.03B	29.2B	37.38B	43.42B	46.27B	50.36B	52.24B	62.29B	19.01B
Net Debt	21.06B	23.43B	27.42B	35.24B	35.53B	43.93B	47.61B	48.48B	60.63B	17.62B
Debt / Equity	5.45x	18.59x	-	-	13.16x	-	32.24x	50.04x	9.38x	1.48x
Debt / EBITDA	1.53x	1.61x	1.65x	2.06x	2.09x	1.79x	1.86x	2.10x	2.46x	0.79x
Net Debt / EBITDA	1.37x	1.40x	1.55x	1.94x	1.71x	1.70x	1.76x	1.94x	2.40x	0.73x
Interest Coverage	13.81x	13.89x	14.78x	13.19x	13.57x	17.10x	14.87x	11.16x	9.27x	8.66x
Total Equity+	4.33B	1.45B	-1.88B	-3.12B	3.3B	-1.7B	1.56B	1.04B	6.64B	12.81B
Equity Growth %	-31.4%	-66.44%	-229.16%	-65.92%	205.87%	-151.41%	192.1%	-33.16%	536.02%	92.97%
Book Value per Share	3.51	1.23	-1.64	-2.84	3.06	-1.60	1.52	1.04	6.69	12.85
Total Shareholders' Equity	4.33B	1.45B	-1.88B	-3.12B	3.3B	-1.7B	1.56B	1.04B	6.64B	12.81B
Common Stock	88M	89M	89M	89M	89M	90M	90M	90M	90M	0
Retained Earnings	35.52B	39.94B	46.42B	51.73B	58.13B	67.58B	76.9B	83.66B	89.53B	0
Treasury Stock	-40.19B	-48.2B	-58.2B	-65.2B	-65.79B	-80.79B	-87.3B	-95.37B	-95.97B	0
Accumulated OCI	-867M	-566M	-772M	-739M	-671M	-704M	-718M	-477M	-1.13B	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025	Feb 2026
Cash from Operations+	9.78B	12.03B	13.16B	13.69B	18.84B	16.57B	14.62B	21.17B	19.81B	16.32B
Operating CF Margin %	10.34%	11.92%	12.17%	12.42%	14.26%	10.96%	9.29%	13.87%	12.42%	9.91%
Operating CF Growth %	4.37%	22.98%	9.43%	3.97%	37.64%	-12.04%	-11.8%	44.86%	-6.43%	-17.59%
Net Income	7.96B	8.63B	11.12B	11.24B	12.87B	16.43B	17.11B	15.14B	14.81B	14.16B
Depreciation & Amortization	1.97B	2.06B	2.15B	2.3B	2.52B	2.86B	2.98B	3.25B	3.76B	4.12B
Stock-Based Compensation	267M	273M	282M	251M	310M	399M	366M	380M	442M	522M
Deferred Taxes	-117M	92M	26M	202M	-569M	-276M	0	0	0	418M
Other Non-Cash Items	121M	328M	118M	-18M	690M	472M	271M	314M	107M	192M
Working Capital Changes	-418M	646M	-534M	-286M	3.02B	-3.32B	-6.1B	2.09B	694M	-3.08B
Change in Receivables	-138M	139M	33M	-170M	-465M	-435M	111M	134M	174M	0
Change in Inventory	-769M	-84M	-1.24B	-593M	-1.66B	-5.4B	-2.83B	4.14B	-743M	0
Change in Payables	446M	352M	870M	32M	5.12B	2.4B	-2.58B	-1.41B	518M	0
Cash from Investing+	-1.58B	-2.23B	-2.42B	-2.65B	-10.17B	-2.97B	-3.14B	-4.73B	-21.03B	-8.98B
Capital Expenditures	-1.62B	-1.9B	-2.44B	-2.68B	-2.46B	-2.57B	-3.12B	-3.23B	-3.48B	-3.68B
CapEx % of Revenue	1.71%	1.88%	2.26%	2.43%	1.86%	1.7%	1.98%	2.11%	2.18%	2.23%
Acquisitions	0	-374M	-21M	0	-7.78B	-421M	0	-1.51B	-17.64B	-5.41B
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	38M	43M	47M	25M	73M	18M	-21M	11M	98M	109M
Cash from Financing+	-7.87B	-8.87B	-12.55B	-10.83B	-2.98B	-19.12B	-10.99B	-15.44B	-694M	-7.71B
Debt Issued (Net)	2.27B	3.3B	2.04B	1.99B	4.09B	2.48B	3.42B	724M	8.79B	1.27B
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K
Dividends Paid	-3.4B	-4.21B	-4.7B	-5.96B	-6.45B	-6.99B	-7.79B	-8.38B	-8.93B	-9.15B
Share Repurchases	-6.88B	-8B	-9.96B	-6.96B	-791M	-14.81B	-6.7B	-7.95B	-649M	0
Other Financing	140M	44M	-153M	-176M	-154M	192M	-188M	167M	-301M	-145M
Net Change in Cash	322M	1.06B	-1.82B	355M	5.76B	-5.55B	414M	1B	-2.1B	-270M
Free Cash Flow+	8.16B	10.13B	10.72B	11.04B	16.38B	14.01B	11.5B	17.95B	16.32B	12.65B
FCF Margin %	8.63%	10.04%	9.91%	10.02%	12.4%	9.27%	7.3%	11.75%	10.23%	7.68%
FCF Growth %	3.71%	24.16%	5.81%	3%	48.27%	-14.48%	-17.91%	56.11%	-9.03%	-22.54%
FCF per Share	6.61	8.56	9.38	10.07	15.19	13.24	11.22	17.91	16.44	12.68
FCF Conversion (FCF/Net Income)	1.23x	1.39x	1.18x	1.22x	1.46x	1.01x	0.85x	1.40x	1.34x	1.15x
Interest Paid	924M	991M	1.03B	1.11B	1.24B	1.27B	1.45B	1.81B	2.2B	0
Taxes Paid	4.62B	4.73B	3.77B	3.22B	4.65B	5.5B	5.43B	5.02B	3.65B	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	149.44%	298.25%	-	-	14061.2%	2050.28%	1095.07%	1162.16%	385.37%	145.54%
Return on Invested Capital (ROIC)	39.72%	43.8%	46.19%	41.2%	38.64%	42.64%	39.45%	32.96%	27.65%	32.07%
Gross Margin	34.16%	34.05%	34.34%	34.09%	33.95%	33.63%	33.53%	33.38%	33.42%	33.32%
Net Margin	8.41%	8.55%	10.28%	10.2%	9.74%	10.87%	10.87%	9.92%	9.28%	8.6%
Debt / Equity	5.45x	18.59x	-	-	13.16x	-	32.24x	50.04x	9.38x	1.48x
Interest Coverage	13.81x	13.89x	14.78x	13.19x	13.57x	17.10x	14.87x	11.16x	9.27x	8.66x
FCF Conversion	1.23x	1.39x	1.18x	1.22x	1.46x	1.01x	0.85x	1.40x	1.34x	1.15x
Revenue Growth	6.86%	6.67%	7.23%	1.87%	19.85%	14.42%	4.13%	-3.01%	4.48%	3.24%

The Home Depot, Inc. (HD) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare HD vs Peers

vs LOW

vs FND

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

The Home Depot, Inc. (HD) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare HD vs Peers

vs LOW

vs FND

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios