Home Depot (HD) Financials

$418.00 -3.45 (-0.82%)

As of 03:25 PM Eastern

Annual Income Statements for Home Depot

This table shows Home Depot's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	2/1/2015	1/31/2016	1/29/2017	1/28/2018	2/3/2019	2/2/2020	1/31/2021	1/30/2022	1/29/2023	1/28/2024	2/2/2025
Net Income / (Loss) Attributable to Common Shareholders	6,345	7,009	7,957	8,630	11,121	11,242	12,866	16,433	17,105	15,143	14,806
Consolidated Net Income / (Loss)	6,345	7,009	7,957	8,630	11,121	11,242	12,866	16,433	17,105	15,143	14,806
Net Income / (Loss) Continuing Operations	6,345	7,009	7,957	8,630	11,121	11,242	12,866	16,433	17,105	15,143	14,806
Total Pre-Tax Income	9,976	11,021	12,491	13,698	14,556	14,715	16,978	21,737	22,477	19,924	19,406
Total Operating Income	10,469	11,774	13,427	14,681	15,530	15,843	18,278	23,040	24,039	21,689	21,526
Total Gross Profit	28,389	30,265	32,313	34,356	37,160	37,572	44,853	50,832	52,778	50,960	53,308
Total Revenue	83,176	88,519	94,595	100,904	108,203	110,225	132,110	151,157	157,403	152,669	159,514
Operating Revenue	83,176	88,519	94,595	100,904	108,203	110,225	132,110	151,157	157,403	152,669	159,514
Total Cost of Revenue	54,787	58,254	62,282	66,548	71,043	72,653	87,257	100,325	104,625	101,709	106,206
Operating Cost of Revenue	54,787	58,254	62,282	66,548	71,043	72,653	87,257	100,325	104,625	101,709	106,206
Total Operating Expenses	17,920	18,491	18,886	19,675	21,630	21,729	26,575	27,792	28,739	29,271	31,782
Selling, General & Admin Expense	16,280	16,801	17,132	17,864	19,513	19,740	24,447	25,406	26,284	26,598	28,748
Depreciation Expense	1,640	1,690	1,754	1,811	1,870	1,989	2,128	2,386	2,455	2,673	3,034
Total Other Income / (Expense), net	-493	-753	-936	-983	-974	-1,128	-1,300	-1,303	-1,562	-1,765	-2,120
Interest Expense	830	919	972	1,057	1,051	1,201	1,347	1,347	1,617	1,943	2,321
Interest & Investment Income	337	166	36	74	93	73	47	44	55	178	201
Income Tax Expense	3,631	4,012	4,534	5,068	3,435	3,473	4,112	5,304	5,372	4,781	4,600
Basic Earnings per Share	$4.74	$5.49	$6.47	$7.33	$9.78	$10.29	$11.98	$15.59	$16.74	$15.16	$14.96
Weighted Average Basic Shares Outstanding	1.34B	1.28B	1.23B	1.18B	1.14B	1.09B	1.07B	1.05B	1.02B	999M	990M
Diluted Earnings per Share	$4.71	$5.46	$6.45	$7.29	$9.73	$10.25	$11.94	$15.53	$16.69	$15.11	$14.91
Weighted Average Diluted Shares Outstanding	1.35B	1.28B	1.23B	1.18B	1.14B	1.10B	1.08B	1.06B	1.03B	1.00B	993M
Weighted Average Basic & Diluted Shares Outstanding	1.34B	1.28B	1.23B	1.18B	1.14B	1.07B	1.08B	1.03B	1.01B	991.02M	994.03M
Cash Dividends to Common per Share	$1.88	$2.36	$2.76	$3.56	$4.12	$5.44	$6.00	$6.60	$7.60	$8.36	$9.00

This table shows Home Depot's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	1/29/2023	4/30/2023	7/30/2023	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	2/2/2025	5/4/2025	8/3/2025
Net Income / (Loss) Attributable to Common Shareholders	3,362	3,873	4,659	3,810	2,801	3,600	4,561	3,648	2,997	3,433	4,551
Consolidated Net Income / (Loss)	3,362	3,873	4,659	3,810	2,801	3,600	4,561	3,648	2,997	3,433	4,551
Net Income / (Loss) Continuing Operations	3,362	3,873	4,659	3,810	2,801	3,600	4,561	3,648	2,997	3,433	4,551
Total Pre-Tax Income	4,344	5,110	6,161	4,968	3,685	4,651	6,045	4,823	3,887	4,542	6,005
Total Operating Income	4,752	5,551	6,589	5,406	4,143	5,079	6,534	5,418	4,495	5,133	6,555
Total Gross Profit	11,926	12,557	14,157	12,738	11,508	12,433	14,416	13,425	13,034	13,459	15,125
Total Revenue	35,831	37,257	42,916	37,710	34,786	36,418	43,175	40,217	39,704	39,856	45,277
Operating Revenue	35,831	37,257	42,916	37,710	34,786	36,418	43,175	40,217	39,704	39,856	45,277
Total Cost of Revenue	23,905	24,700	28,759	24,972	23,278	23,985	28,759	26,792	26,670	26,397	30,152
Operating Cost of Revenue	23,905	24,700	28,759	24,972	23,278	23,985	28,759	26,792	26,670	26,397	30,152
Total Operating Expenses	7,174	7,006	7,568	7,332	7,365	7,354	7,882	8,007	8,539	8,326	8,570
Selling, General & Admin Expense	6,549	6,355	6,915	6,649	6,679	6,667	7,144	7,212	7,725	7,530	7,764
Depreciation Expense	625	651	653	683	686	687	738	795	814	796	806
Total Other Income / (Expense), net	-408	-441	-428	-438	-458	-428	-489	-595	-608	-591	-550
Interest Expense	451	474	469	487	513	485	573	625	638	615	575
Interest & Investment Income	43	33	41	49	55	57	84	30	30	24	25
Income Tax Expense	982	1,237	1,502	1,158	884	1,051	1,484	1,175	890	1,109	1,454
Basic Earnings per Share	$3.32	$3.83	$4.66	$3.83	$2.84	$3.64	$4.61	$3.68	$3.03	$3.46	$4.59
Weighted Average Basic Shares Outstanding	1.02B	1.01B	1B	996M	999M	989M	990M	991M	990M	992M	992M
Diluted Earnings per Share	$3.31	$3.82	$4.65	$3.81	$2.83	$3.63	$4.60	$3.67	$3.01	$3.45	$4.58
Weighted Average Diluted Shares Outstanding	1.03B	1.01B	1.00B	999M	1.00B	992M	992M	993M	993M	994M	994M
Weighted Average Basic & Diluted Shares Outstanding	1.01B	1.01B	1.00B	995.26M	991.02M	991.61M	993.29M	993.36M	994.03M	994.93M	995.39M

This table details how cash moves in and out of Home Depot's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	2/1/2015	1/31/2016	1/29/2017	1/28/2018	2/3/2019	2/2/2020	1/31/2021	1/30/2022	1/29/2023	1/28/2024	2/2/2025
Net Change in Cash & Equivalents	-100	604	330	933	-1,798	236	5,686	-5,518	482	1,000	-1,915
Net Cash From Operating Activities	8,242	9,373	9,783	12,031	13,165	13,687	18,839	16,571	14,615	21,172	19,810
Net Cash From Continuing Operating Activities	8,242	9,373	9,783	12,031	13,165	13,687	18,839	16,571	14,615	21,172	19,810
Net Income / (Loss) Continuing Operations	6,345	7,009	7,957	8,630	11,121	11,242	12,866	16,433	17,105	15,143	14,806
Consolidated Net Income / (Loss)	6,345	7,009	7,957	8,630	11,121	11,242	12,866	16,433	17,105	15,143	14,806
Depreciation Expense	1,786	1,863	1,973	2,062	2,152	2,296	2,519	2,862	2,796	3,061	3,336
Amortization Expense	-	-	-	-	-	-	-	-	179	186	425
Non-Cash Adjustments To Reconcile Net Income	-98	100	267	273	529	251	310	399	366	380	442
Changes in Operating Assets and Liabilities, net	209	401	-414	1,066	-637	-102	3,144	-3,123	-5,831	2,402	801
Net Cash From Investing Activities	-1,271	-2,982	-1,583	-2,228	-2,416	-2,653	-10,170	-2,969	-3,140	-4,729	-21,031
Net Cash From Continuing Investing Activities	-1,271	-2,982	-1,583	-2,228	-2,416	-2,653	-10,170	-2,969	-3,140	-4,729	-21,031
Purchase of Property, Plant & Equipment	-1,442	-1,503	-1,621	-1,897	-2,442	-2,678	-2,463	-2,566	-3,119	-3,226	-3,485
Acquisitions	-200	-1,666	0.00	-374	-21	0.00	-7,780	-421	0.00	-1,514	-17,644
Other Investing Activities, net	-	0.00	0.00	-4.00	47	25	73	18	-21	11	98
Net Cash From Financing Activities	-7,071	-5,787	-7,870	-8,870	-12,547	-10,798	-2,983	-19,120	-10,993	-15,443	-694
Net Cash From Continuing Financing Activities	-7,071	-5,787	-7,870	-8,870	-12,547	-10,798	-2,983	-19,120	-10,993	-15,443	-694
Repayment of Debt	226	-35	-3,123	-754	-1,582	-1,575	-3,026	-1,677	-3,714	-1,427	-1,521
Repurchase of Common Equity	-7,000	-7,000	-6,880	-8,000	-9,963	-6,965	-791	-14,809	-6,696	-7,951	-649
Payment of Dividends	-2,530	-3,031	-3,404	-4,212	-4,704	-5,958	-6,451	-6,985	-7,789	-8,383	-8,929
Issuance of Debt	1,981	4,051	5,319	3,841	3,466	3,420	6,959	4,014	6,942	1,995	10,010
Issuance of Common Equity	252	228	218	255	236	280	326	337	264	323	395
Cash Interest Paid	782	874	924	991	1,035	1,112	1,241	1,269	1,449	1,809	2,199
Cash Income Taxes Paid	3,435	3,853	4,623	4,732	3,774	3,220	4,654	5,504	5,435	5,023	3,653

This table details how cash moves in and out of Home Depot's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	1/29/2023	4/30/2023	7/30/2023	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	2/2/2025	5/4/2025	8/3/2025
Net Change in Cash & Equivalents	253	-1,477	1,514	-669	1,632	521	-2,600	-57	221	-362	1,458
Net Cash From Operating Activities	4,594	5,614	6,591	4,234	4,733	5,497	5,409	4,233	4,671	4,325	4,643
Net Cash From Continuing Operating Activities	4,594	5,614	6,591	4,234	4,733	5,497	5,409	4,233	4,671	4,325	4,643
Net Income / (Loss) Continuing Operations	3,362	3,873	4,659	3,810	2,801	3,600	4,561	3,648	2,997	3,433	4,551
Consolidated Net Income / (Loss)	3,362	3,873	4,659	3,810	2,801	3,600	4,561	3,648	2,997	3,433	4,551
Depreciation Expense	759	793	707	779	832	785	778	857	864	855	865
Amortization Expense	-	-	-	48	-	52	-	138	145	139	139
Non-Cash Adjustments To Reconcile Net Income	80	124	91	85	80	124	98	106	114	170	118
Changes in Operating Assets and Liabilities, net	393	824	1,046	-488	1,020	936	-170	-516	551	-272	-1,030
Net Cash From Investing Activities	-895	-903	-999	-1,246	-1,581	-830	-18,268	-814	-1,119	-931	-961
Net Cash From Continuing Investing Activities	-895	-903	-999	-1,246	-1,581	-830	-18,268	-814	-1,119	-931	-961
Purchase of Property, Plant & Equipment	-903	-905	-792	-671	-858	-847	-719	-818	-1,101	-806	-917
Acquisitions	-	-	-	-580	-719	0.00	-	-43	-31	-156	-77
Other Investing Activities, net	8.00	2.00	8.00	5.00	-4.00	17	21	47	13	31	33
Net Cash From Financing Activities	-3,446	-6,188	-4,078	-3,657	-1,520	-4,146	10,259	-3,476	-3,331	-3,756	-2,224
Net Cash From Continuing Financing Activities	-3,446	-6,188	-4,078	-3,657	-1,520	-4,146	10,259	-3,476	-3,331	-3,756	-2,224
Repayment of Debt	964	-1,198	-74	-74	-81	-1,330	-129	-111	57	-1,510	-135
Payment of Dividends	-1,933	-2,118	-2,097	-2,089	-2,079	-2,229	-2,231	-2,234	-2,235	-2,286	-2,288
Issuance of Debt	-1,035	0.00	-	-	1,995	0.00	12,471	-1,152	-1,317	29	47
Issuance of Common Equity	118	15	160	17	131	62	148	21	164	11	152
Cash Interest Paid	289	596	304	604	305	621	361	658	559	648	541
Cash Income Taxes Paid	1,262	185	2,709	923	1,206	249	2,385	845	174	1,098	1,994

This table presents Home Depot's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	2/1/2015	1/31/2016	1/29/2017	1/28/2018	2/3/2019	2/2/2020	1/31/2021	1/30/2022	1/29/2023	1/28/2024	2/2/2025
Total Assets	39,946	41,973	42,966	44,529	44,003	51,236	70,581	71,876	76,445	76,530	96,119
Total Current Assets	15,302	16,484	17,724	18,933	18,529	19,810	28,477	29,055	32,471	29,775	31,683
Cash & Equivalents	1,723	2,216	2,538	3,595	1,778	2,133	7,895	2,343	2,757	3,760	1,659
Accounts Receivable	1,484	1,890	2,029	1,952	1,936	2,106	2,992	3,426	3,317	3,328	4,903
Inventories, net	11,079	11,809	12,549	12,748	13,925	14,531	16,627	22,068	24,886	20,976	23,451
Other Current Assets	1,016	569	608	638	890	1,040	963	1,218	1,511	1,711	1,670
Plant, Property, & Equipment, net	22,720	22,191	21,914	22,075	0.00	22,770	24,705	25,199	25,631	26,154	26,702
Total Noncurrent Assets	1,924	3,298	3,328	3,521	25,474	8,656	17,399	17,622	18,343	20,601	37,734
Goodwill	1,353	2,102	2,093	2,275	2,252	2,254	7,126	7,449	7,444	8,455	19,475
Intangible Assets	-	-	-	-	-	-	-	-	-	3,606	8,983
Other Noncurrent Operating Assets	571	1,196	1,235	1,246	23,222	6,402	10,273	10,173	10,899	8,540	9,276
Total Liabilities & Shareholders' Equity	39,946	41,973	42,966	44,529	44,003	51,236	70,581	71,876	76,445	76,530	96,119
Total Liabilities	30,624	35,657	38,633	43,075	45,881	54,352	67,282	73,572	74,883	75,486	89,479
Total Current Liabilities	11,269	12,524	14,133	16,194	16,716	18,375	23,166	28,693	23,110	22,015	28,661
Short-Term Debt	328	427	1,252	2,761	2,395	2,813	1,416	3,482	1,231	1,368	4,898
Accounts Payable	5,807	6,565	7,000	7,244	7,755	7,787	11,606	13,462	11,443	10,037	11,938
Accrued Expenses	1,806	1,941	2,195	2,170	2,611	2,677	3,063	3,891	3,858	4,225	4,166
Current Deferred Revenue	1,468	1,566	1,669	1,805	1,782	2,116	2,823	3,596	3,064	2,762	2,610
Current Deferred & Payable Income Tax Liabilities	35	34	25	54	11	55	193	158	50	28	832
Current Employee Benefit Liabilities	1,391	1,515	1,484	1,640	1,506	1,494	2,463	2,426	1,991	2,096	2,315
Other Taxes Payable	434	476	508	520	656	605	774	848	528	449	628
Other Current Liabilities	-	-	-	-	0.00	828	828	830	945	1,050	1,274
Total Noncurrent Liabilities	19,355	23,133	24,500	26,881	29,165	35,977	44,116	44,879	51,773	53,471	60,818
Long-Term Debt	16,869	20,789	22,349	24,267	26,807	28,670	35,822	36,604	41,962	42,743	48,485
Noncurrent Deferred & Payable Income Tax Liabilities	642	379	296	440	491	706	1,131	909	1,019	863	1,962
Other Noncurrent Operating Liabilities	1,844	1,965	1,855	2,174	1,867	6,601	7,163	7,366	8,792	9,865	10,371
Commitments & Contingencies	-	-	-	-	-	-	-	-	-	-	0.00
Total Equity & Noncontrolling Interests	9,322	6,316	4,333	1,454	-1,878	-3,116	3,299	-1,696	1,562	1,044	6,640
Total Preferred & Common Equity	9,322	6,316	4,333	1,454	-1,878	-3,116	3,299	-1,696	1,562	1,044	6,640
Total Common Equity	9,322	6,316	4,333	1,454	-1,878	-3,116	3,299	-1,696	1,562	1,044	6,640
Common Stock	8,973	9,435	9,875	10,281	10,667	11,090	11,629	12,222	12,682	13,237	14,207
Retained Earnings	26,995	30,973	35,519	39,935	46,423	51,729	58,134	67,580	76,896	83,656	89,533
Treasury Stock	-26,194	-33,194	-40,194	-48,196	-58,196	-65,196	-65,793	-80,794	-87,298	-95,372	-95,971
Accumulated Other Comprehensive Income / (Loss)	-452	-898	-867	-566	-772	-739	-671	-704	-718	-477	-1,129

This table presents Home Depot's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	10/30/2022	1/29/2023	4/30/2023	7/30/2023	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	5/4/2025	8/3/2025
Total Assets	76,866	76,445	76,386	76,387	75,577	76,530	79,230	96,846	97,264	99,157	100,049
Total Current Assets	33,681	32,471	32,423	31,830	30,682	29,775	32,622	32,273	32,949	34,529	35,391
Cash & Equivalents	2,462	2,757	1,260	2,814	2,058	3,760	4,264	1,613	1,531	1,369	2,804
Accounts Receivable	3,732	3,317	4,213	3,836	3,932	3,328	4,105	5,503	5,782	5,886	5,878
Inventories, net	25,719	24,886	25,371	23,265	22,805	20,976	22,416	23,060	23,897	25,763	24,843
Other Current Assets	1,768	1,511	1,579	1,915	1,887	1,711	1,837	2,097	1,739	1,511	1,866
Plant, Property, & Equipment, net	25,240	25,631	25,674	25,879	25,735	26,154	25,997	26,640	26,573	26,780	26,896
Total Noncurrent Assets	17,945	18,343	18,289	18,678	19,160	20,601	20,611	37,933	37,742	37,848	37,762
Goodwill	7,434	7,444	7,447	7,664	7,937	8,455	8,464	19,414	19,428	19,568	19,619
Intangible Assets	-	-	-	-	-	3,606	-	9,214	9,112	8,888	8,770
Other Noncurrent Operating Assets	10,511	10,899	10,842	11,014	11,223	8,540	12,147	9,305	9,202	9,392	9,373
Total Liabilities & Shareholders' Equity	76,866	76,445	76,386	76,387	75,577	76,530	79,230	96,846	97,264	99,157	100,049
Total Liabilities	75,568	74,883	76,024	75,052	74,147	75,486	77,410	92,426	91,478	91,202	89,384
Total Current Liabilities	24,280	23,110	25,446	24,227	23,572	22,015	24,359	28,123	29,092	31,589	30,846
Short-Term Debt	1,224	1,231	1,338	1,352	1,362	1,368	771	3,866	4,520	4,923	6,400
Accounts Payable	12,402	11,443	12,630	12,104	11,478	10,037	12,563	13,206	13,506	14,696	13,086
Accrued Expenses	3,965	3,858	3,725	4,009	3,994	4,225	3,793	4,265	4,366	4,103	4,336
Current Deferred Revenue	3,173	3,064	3,119	3,079	2,784	2,762	2,841	2,754	2,595	2,779	2,605
Current Deferred & Payable Income Tax Liabilities	-	50	1,054	19	304	28	637	40	94	829	37
Current Employee Benefit Liabilities	1,934	1,991	1,931	2,022	2,034	2,096	2,005	2,105	2,094	2,180	2,385
Other Taxes Payable	640	528	683	631	590	449	676	645	655	768	661
Other Current Liabilities	942	945	966	1,011	1,026	1,050	1,073	1,242	1,262	1,311	1,336
Total Noncurrent Liabilities	51,288	51,773	50,578	50,825	50,575	53,471	53,051	64,303	62,386	59,613	58,538
Long-Term Debt	41,740	41,962	40,915	40,754	40,567	42,743	42,060	51,869	50,058	47,343	45,917
Noncurrent Deferred & Payable Income Tax Liabilities	-	1,019	954	956	753	863	946	2,074	2,083	1,994	2,491
Other Noncurrent Operating Liabilities	9,548	8,792	8,709	9,115	9,255	9,865	10,045	10,360	10,245	10,276	10,130
Commitments & Contingencies	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,298	1,562	362	1,335	1,430	1,044	1,820	4,420	5,786	7,955	10,665
Total Preferred & Common Equity	1,298	1,562	362	1,335	1,430	1,044	1,820	4,420	5,786	7,955	10,665
Total Common Equity	1,298	1,562	362	1,335	1,430	1,044	1,820	4,420	5,786	7,955	10,665
Common Stock	12,475	12,682	12,674	12,932	13,017	13,237	13,243	13,821	13,925	14,249	14,528
Retained Earnings	75,467	76,896	78,651	81,213	82,934	83,656	85,027	87,357	88,771	90,680	92,943
Treasury Stock	-85,788	-87,298	-90,326	-92,343	-93,859	-95,372	-95,972	-95,971	-95,971	-95,971	-95,971
Accumulated Other Comprehensive Income / (Loss)	-856	-718	-637	-467	-662	-477	-478	-787	-939	-1,003	-835

This table displays calculated financial ratios and metrics derived from Home Depot's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	2/1/2015	1/31/2016	1/29/2017	1/28/2018	2/3/2019	2/2/2020	1/31/2021	1/30/2022	1/29/2023	1/28/2024	2/2/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.54%	6.42%	6.86%	6.67%	7.23%	1.87%	19.85%	14.42%	4.13%	-3.01%	4.48%
EBITDA Growth	12.19%	11.28%	12.93%	8.72%	5.51%	2.68%	14.65%	24.55%	4.29%	-7.69%	1.41%
EBIT Growth	14.22%	12.47%	14.04%	9.34%	5.67%	2.12%	15.37%	26.05%	4.34%	-9.78%	-0.75%
NOPAT Growth	14.22%	12.46%	14.23%	8.14%	28.28%	2.01%	14.44%	25.75%	5.03%	-9.89%	-0.37%
Net Income Growth	17.83%	10.46%	13.53%	8.46%	28.86%	1.09%	14.45%	27.72%	4.09%	-11.47%	-2.23%
EPS Growth	25.27%	15.92%	18.13%	13.02%	33.47%	5.34%	16.49%	30.07%	7.47%	-9.47%	-1.32%
Operating Cash Flow Growth	8.05%	13.72%	4.37%	22.98%	9.43%	3.97%	37.64%	-12.04%	-11.80%	44.86%	-6.43%
Free Cash Flow Firm Growth	8.92%	-2.95%	21.60%	15.17%	14.84%	1.87%	-34.80%	88.27%	-11.92%	38.44%	-103.19%
Invested Capital Growth	-2.06%	2.10%	0.32%	-2.00%	2.65%	2.69%	24.43%	10.43%	16.51%	-1.44%	40.99%
Revenue Q/Q Growth	1.79%	2.10%	1.31%	1.69%	2.47%	-0.64%	5.16%	2.34%	0.07%	-0.68%	3.18%
EBITDA Q/Q Growth	3.65%	2.99%	2.65%	1.78%	1.10%	0.39%	3.75%	3.23%	-0.18%	-2.10%	2.73%
EBIT Q/Q Growth	4.28%	3.14%	2.90%	1.82%	1.13%	0.16%	3.86%	3.33%	-0.30%	-2.73%	1.66%
NOPAT Q/Q Growth	5.01%	2.42%	3.32%	0.36%	5.40%	1.41%	2.93%	2.88%	0.46%	-3.10%	1.95%
Net Income Q/Q Growth	6.12%	1.33%	3.55%	0.41%	5.35%	1.23%	3.01%	3.11%	0.06%	-3.57%	1.34%
EPS Q/Q Growth	6.80%	2.44%	4.37%	1.25%	6.11%	1.89%	3.29%	3.74%	0.54%	-3.08%	1.22%
Operating Cash Flow Q/Q Growth	4.41%	0.13%	-1.44%	3.67%	6.81%	-1.69%	-7.24%	11.89%	10.67%	0.66%	-0.31%
Free Cash Flow Firm Q/Q Growth	1.77%	6.77%	-3.77%	2.21%	6.73%	-0.22%	-56.44%	248.64%	7.08%	-2.42%	61.67%
Invested Capital Q/Q Growth	0.57%	-0.49%	1.93%	1.24%	0.81%	1.54%	47.00%	2.65%	0.47%	0.23%	-0.80%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.13%	34.19%	34.16%	34.05%	34.34%	34.09%	33.95%	33.63%	33.53%	33.38%	33.42%
EBITDA Margin	14.73%	15.41%	16.28%	16.59%	16.33%	16.46%	15.74%	17.14%	17.16%	16.33%	15.85%
Operating Margin	12.59%	13.30%	14.19%	14.55%	14.35%	14.37%	13.84%	15.24%	15.27%	14.21%	13.49%
EBIT Margin	12.59%	13.30%	14.19%	14.55%	14.34%	14.37%	13.84%	15.24%	15.27%	14.21%	13.49%
Profit (Net Income) Margin	7.63%	7.92%	8.41%	8.55%	10.28%	10.20%	9.74%	10.87%	10.87%	9.92%	9.28%
Tax Burden Percent	63.60%	63.60%	63.70%	63.00%	76.40%	76.40%	75.78%	75.60%	76.10%	76.00%	76.30%
Interest Burden Percent	95.29%	93.60%	93.03%	93.30%	93.82%	92.88%	92.89%	94.34%	93.50%	91.86%	90.15%
Effective Tax Rate	36.40%	36.40%	36.30%	37.00%	23.60%	23.60%	24.22%	24.40%	23.90%	24.00%	23.70%
Return on Invested Capital (ROIC)	26.57%	29.88%	33.73%	36.79%	47.05%	46.75%	47.05%	50.72%	46.88%	39.53%	32.93%
ROIC Less NNEP Spread (ROIC-NNEP)	24.36%	27.11%	30.76%	34.01%	44.13%	43.72%	43.70%	47.78%	43.84%	36.21%	29.41%
Return on Net Nonoperating Assets (RNNOA)	31.52%	59.76%	115.71%	261.47%	-5,292.81%	-496.97%	14,014.15%	1,999.57%	-25,576.73%	1,122.63%	352.45%
Return on Equity (ROE)	58.09%	89.64%	149.44%	298.25%	-5,245.75%	-450.22%	14,061.20%	2,050.28%	-25,529.85%	1,162.16%	385.37%
Cash Return on Invested Capital (CROIC)	28.65%	27.81%	33.42%	38.81%	44.44%	44.09%	25.28%	40.80%	31.63%	40.98%	-1.09%
Operating Return on Assets (OROA)	26.02%	28.75%	31.62%	33.56%	35.05%	33.27%	30.01%	32.35%	32.41%	28.36%	24.94%
Return on Assets (ROA)	15.77%	17.11%	18.74%	19.73%	25.12%	23.61%	21.12%	23.07%	23.06%	19.80%	17.15%
Return on Common Equity (ROCE)	58.09%	89.64%	149.44%	298.25%	-5,245.75%	-450.22%	14,061.20%	2,050.28%	-25,529.85%	1,162.16%	385.37%
Return on Equity Simple (ROE_SIMPLE)	68.06%	110.97%	183.64%	593.54%	-592.17%	-360.78%	390.00%	-968.93%	1,095.07%	1,450.48%	222.98%
Net Operating Profit after Tax (NOPAT)	6,659	7,488	8,553	9,249	11,865	12,104	13,851	17,418	18,294	16,484	16,423
NOPAT Margin	8.01%	8.46%	9.04%	9.17%	10.97%	10.98%	10.48%	11.52%	11.62%	10.80%	10.30%
Net Nonoperating Expense Percent (NNEP)	2.22%	2.78%	2.98%	2.78%	2.93%	3.04%	3.36%	2.94%	3.04%	3.32%	3.51%
Return On Investment Capital (ROIC_SIMPLE)	25.11%	-	-	-	-	-	-	-	-	-	27.36%
Cost of Revenue to Revenue	65.87%	65.81%	65.84%	65.95%	65.66%	65.91%	66.05%	66.37%	66.47%	66.62%	66.58%
SG&A Expenses to Revenue	19.57%	18.98%	18.11%	17.70%	18.03%	17.91%	18.51%	16.81%	16.70%	17.42%	18.02%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.54%	20.89%	19.97%	19.50%	19.99%	19.71%	20.12%	18.39%	18.26%	19.17%	19.92%
Earnings before Interest and Taxes (EBIT)	10,469	11,774	13,427	14,681	15,514	15,843	18,278	23,040	24,039	21,689	21,526
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	12,255	13,637	15,400	16,743	17,666	18,139	20,797	25,902	27,014	24,936	25,287
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.61	20.62	32.45	142.05	0.00	0.00	81.11	0.00	198.47	334.37	61.24
Price to Tangible Book Value (P/TBV)	13.59	30.91	62.76	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.30	1.47	1.49	2.05	1.68	2.02	2.03	2.37	1.97	2.29	2.55
Price to Earnings (P/E)	17.06	18.58	17.67	23.93	16.34	19.84	20.80	21.82	18.12	23.05	27.47
Dividend Yield	2.29%	2.30%	2.39%	2.01%	2.56%	2.66%	2.41%	1.92%	2.50%	2.38%	2.20%
Earnings Yield	5.86%	5.38%	5.66%	4.18%	6.12%	5.04%	4.81%	4.58%	5.52%	4.34%	3.64%
Enterprise Value to Invested Capital (EV/IC)	4.99	5.90	6.37	9.24	8.19	9.62	9.10	11.00	8.34	9.41	7.85
Enterprise Value to Revenue (EV/Rev)	1.49	1.69	1.71	2.28	1.93	2.29	2.25	2.62	2.23	2.55	2.87
Enterprise Value to EBITDA (EV/EBITDA)	10.10	10.94	10.50	13.74	11.84	13.92	14.28	15.30	12.97	15.62	18.13
Enterprise Value to EBIT (EV/EBIT)	11.82	12.68	12.04	15.66	13.48	15.93	16.24	17.20	14.58	17.96	21.29
Enterprise Value to NOPAT (EV/NOPAT)	18.58	19.93	18.90	24.86	17.63	20.86	21.44	22.75	19.16	23.62	27.91
Enterprise Value to Operating Cash Flow (EV/OCF)	15.01	15.92	16.52	19.12	15.89	18.44	15.76	23.92	23.98	18.39	23.14
Enterprise Value to Free Cash Flow (EV/FCFF)	17.24	21.42	19.08	23.57	18.67	22.11	39.89	28.28	28.39	22.79	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.84	3.36	5.45	18.59	-15.55	-10.10	11.29	-23.64	27.65	42.25	8.04
Long-Term Debt to Equity	1.81	3.29	5.16	16.69	-14.27	-9.20	10.86	-21.58	26.86	40.94	7.30
Financial Leverage	1.29	2.20	3.76	7.69	-119.95	-11.37	320.73	41.85	-583.43	31.00	11.98
Leverage Ratio	3.68	5.24	7.98	15.12	-208.80	-19.07	665.67	88.87	-1,106.87	58.70	22.47
Compound Leverage Factor	3.51	4.90	7.42	14.11	-195.91	-17.71	618.32	83.84	-1,034.95	53.92	20.26
Debt to Total Capital	64.85%	77.06%	84.49%	94.90%	106.87%	110.98%	91.86%	104.42%	96.51%	97.69%	88.94%
Short-Term Debt to Total Capital	1.24%	1.55%	4.48%	9.69%	8.77%	9.92%	3.49%	9.07%	2.75%	3.03%	8.16%
Long-Term Debt to Total Capital	63.61%	75.51%	80.01%	85.20%	98.11%	101.07%	88.37%	95.35%	93.76%	94.66%	80.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	35.15%	22.94%	15.51%	5.11%	-6.87%	-10.98%	8.14%	-4.42%	3.49%	2.31%	11.06%
Debt to EBITDA	1.40	1.56	1.53	1.61	1.65	1.74	1.79	1.55	1.60	1.77	2.11
Net Debt to EBITDA	1.26	1.39	1.37	1.40	1.55	1.62	1.41	1.46	1.50	1.62	2.05
Long-Term Debt to EBITDA	1.38	1.52	1.45	1.45	1.52	1.58	1.72	1.41	1.55	1.71	1.92
Debt to NOPAT	2.58	2.83	2.76	2.92	2.46	2.60	2.69	2.30	2.36	2.68	3.25
Net Debt to NOPAT	2.32	2.54	2.46	2.53	2.31	2.42	2.12	2.17	2.21	2.45	3.15
Long-Term Debt to NOPAT	2.53	2.78	2.61	2.62	2.26	2.37	2.59	2.10	2.29	2.59	2.95
Altman Z-Score	6.14	6.37	6.67	7.56	7.53	7.08	6.36	7.41	7.14	7.36	6.47
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.36	1.32	1.25	1.17	1.11	1.08	1.23	1.01	1.41	1.35	1.11
Quick Ratio	0.28	0.33	0.32	0.34	0.22	0.23	0.47	0.20	0.26	0.32	0.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7,180	6,968	8,473	9,758	11,206	11,416	7,443	14,013	12,343	17,087	-546
Operating Cash Flow to CapEx	769.56%	712.23%	618.00%	650.32%	539.11%	511.09%	764.88%	645.79%	468.58%	656.29%	568.44%
Free Cash Flow to Firm to Interest Expense	8.65	7.58	8.72	9.23	10.66	9.51	5.53	10.40	7.63	8.79	-0.24
Operating Cash Flow to Interest Expense	9.93	10.20	10.06	11.38	12.53	11.40	13.99	12.30	9.04	10.90	8.54
Operating Cash Flow Less CapEx to Interest Expense	8.64	8.77	8.44	9.63	10.20	9.17	12.16	10.40	7.11	9.24	7.03
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.07	2.16	2.23	2.31	2.44	2.31	2.17	2.12	2.12	2.00	1.85
Accounts Receivable Turnover	57.72	52.47	48.28	50.69	55.66	54.54	51.83	47.10	46.69	45.95	38.76
Inventory Turnover	4.95	5.09	5.11	5.26	5.33	5.11	5.60	5.19	4.46	4.44	4.78
Fixed Asset Turnover	3.61	3.94	4.29	4.59	0.00	0.00	5.57	6.06	6.19	5.90	6.04
Accounts Payable Turnover	9.44	9.42	9.18	9.34	9.47	9.35	9.00	8.00	8.40	9.47	9.67
Days Sales Outstanding (DSO)	6.32	6.96	7.56	7.20	6.56	6.69	7.04	7.75	7.82	7.94	9.42
Days Inventory Outstanding (DIO)	73.74	71.70	71.37	69.37	68.52	71.48	65.17	70.39	81.90	82.29	76.34
Days Payable Outstanding (DPO)	38.65	38.76	39.75	39.06	38.53	39.04	40.56	45.60	43.44	38.54	37.76
Cash Conversion Cycle (CCC)	41.41	39.90	39.19	37.51	36.55	39.13	31.65	32.54	46.28	51.69	48.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	24,796	25,316	25,396	24,887	25,546	26,234	32,642	36,047	41,998	41,395	58,364
Invested Capital Turnover	3.32	3.53	3.73	4.01	4.29	4.26	4.49	4.40	4.03	3.66	3.20
Increase / (Decrease) in Invested Capital	-521	520	80	-509	659	688	6,408	3,405	5,951	-603	16,969
Enterprise Value (EV)	123,742	149,254	161,647	229,976	209,185	252,433	296,919	396,344	350,442	389,438	458,389
Market Capitalization	108,268	130,254	140,584	206,543	181,761	223,083	267,576	358,601	310,006	349,087	406,665
Book Value per Share	$7.07	$4.98	$3.56	$1.25	($1.66)	($2.86)	$3.06	($1.62)	$1.53	$1.05	$6.68
Tangible Book Value per Share	$6.05	$3.32	$1.84	($0.70)	($3.66)	($4.92)	($3.55)	($8.76)	($5.77)	($11.07)	($21.96)
Total Capital	26,519	27,532	27,934	28,482	27,324	28,367	40,537	38,390	44,755	45,155	60,023
Total Debt	17,197	21,216	23,601	27,028	29,202	31,483	37,238	40,086	43,193	44,111	53,383
Total Long-Term Debt	16,869	20,789	22,349	24,267	26,807	28,670	35,822	36,604	41,962	42,743	48,485
Net Debt	15,474	19,000	21,063	23,433	27,424	29,350	29,343	37,743	40,436	40,351	51,724
Capital Expenditures (CapEx)	1,071	1,316	1,583	1,850	2,442	2,678	2,463	2,566	3,119	3,226	3,485
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,638	2,171	2,305	1,905	2,430	2,115	-1,168	1,501	7,835	5,368	6,261
Debt-free Net Working Capital (DFNWC)	4,361	4,387	4,843	5,500	4,208	4,248	6,727	3,844	10,592	9,128	7,920
Net Working Capital (NWC)	4,033	3,960	3,591	2,739	1,813	1,435	5,311	362	9,361	7,760	3,022
Net Nonoperating Expense (NNE)	314	479	596	619	744	862	985	985	1,189	1,341	1,617
Net Nonoperating Obligations (NNO)	15,474	19,000	21,063	23,433	27,424	29,350	29,343	37,743	40,436	40,351	51,724
Total Depreciation and Amortization (D&A)	1,786	1,863	1,973	2,062	2,152	2,296	2,519	2,862	2,975	3,247	3,761
Debt-free, Cash-free Net Working Capital to Revenue	3.17%	2.45%	2.44%	1.89%	2.25%	1.92%	-0.88%	0.99%	4.98%	3.52%	3.93%
Debt-free Net Working Capital to Revenue	5.24%	4.96%	5.12%	5.45%	3.89%	3.85%	5.09%	2.54%	6.73%	5.98%	4.97%
Net Working Capital to Revenue	4.85%	4.47%	3.80%	2.71%	1.68%	1.30%	4.02%	0.24%	5.95%	5.08%	1.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.74	$5.49	$6.47	$7.33	$9.78	$10.29	$11.98	$15.59	$16.74	$15.16	$14.96
Adjusted Weighted Average Basic Shares Outstanding	1.34B	1.28B	1.23B	1.18B	1.14B	1.09B	1.07B	1.05B	1.02B	999M	990M
Adjusted Diluted Earnings per Share	$4.71	$5.46	$6.45	$7.29	$9.73	$10.25	$11.94	$15.53	$16.69	$15.11	$14.91
Adjusted Weighted Average Diluted Shares Outstanding	1.35B	1.28B	1.23B	1.18B	1.14B	1.10B	1.08B	1.06B	1.03B	1.00B	993M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.31B	1.25B	1.20B	1.16B	1.10B	1.07B	1.08B	1.03B	1.01B	991.02M	994.03M
Normalized Net Operating Profit after Tax (NOPAT)	6,659	7,488	8,553	9,249	12,054	12,104	13,851	17,418	18,294	16,484	16,423
Normalized NOPAT Margin	8.01%	8.46%	9.04%	9.17%	11.14%	10.98%	10.48%	11.52%	11.62%	10.80%	10.30%
Pre Tax Income Margin	11.99%	12.45%	13.20%	13.58%	13.45%	13.35%	12.85%	14.38%	14.28%	13.05%	12.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.61	12.81	13.81	13.89	14.76	13.19	13.57	17.10	14.87	11.16	9.27
NOPAT to Interest Expense	8.02	8.15	8.80	8.75	11.29	10.08	10.28	12.93	11.31	8.48	7.08
EBIT Less CapEx to Interest Expense	11.32	11.38	12.19	12.14	12.44	10.96	11.74	15.20	12.94	9.50	7.77
NOPAT Less CapEx to Interest Expense	6.73	6.72	7.17	7.00	8.97	7.85	8.45	11.03	9.38	6.82	5.57
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	39.87%	43.24%	42.78%	48.81%	42.30%	53.00%	50.14%	42.51%	45.54%	55.36%	60.31%
Augmented Payout Ratio	150.20%	143.12%	129.24%	141.51%	131.89%	114.95%	56.29%	132.62%	84.68%	107.87%	64.69%

This table displays calculated financial ratios and metrics derived from Home Depot's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	1/29/2023	4/30/2023	7/30/2023	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	2/2/2025	5/4/2025	8/3/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.31%	-4.24%	-2.00%	-2.99%	-2.92%	-2.25%	0.60%	6.65%	14.14%	9.44%	4.87%
EBITDA Growth	-0.86%	-4.69%	-8.30%	-9.55%	-9.73%	-6.75%	0.22%	2.89%	10.63%	3.57%	1.41%
EBIT Growth	-1.51%	-6.38%	-8.61%	-12.07%	-12.82%	-8.50%	-0.83%	0.22%	8.50%	1.06%	0.32%
NOPAT Growth	2.37%	-6.75%	-8.74%	-10.76%	-14.37%	-6.56%	-1.06%	-1.15%	10.06%	-1.31%	0.77%
Net Income Growth	0.30%	-8.46%	-9.94%	-12.19%	-16.69%	-7.05%	-2.10%	-4.25%	7.00%	-4.64%	-0.22%
EPS Growth	2.80%	-6.60%	-7.92%	-10.14%	-14.50%	-4.97%	-1.08%	-3.67%	6.36%	-4.96%	-0.43%
Operating Cash Flow Growth	44.24%	48.17%	94.25%	49.14%	3.03%	-2.08%	-17.93%	-0.02%	-1.31%	-21.32%	-14.16%
Free Cash Flow Firm Growth	-1,312.44%	95.00%	601.92%	327.89%	265.06%	6,242.93%	-397.71%	-389.22%	-459.88%	-397.70%	125.66%
Invested Capital Growth	16.51%	11.57%	1.55%	-1.19%	-1.44%	-2.34%	44.10%	42.45%	40.99%	45.72%	2.79%
Revenue Q/Q Growth	-7.82%	3.98%	15.19%	-12.13%	-7.75%	4.69%	18.55%	-6.85%	-1.28%	0.38%	13.60%
EBITDA Q/Q Growth	-20.03%	15.12%	15.01%	-14.57%	-21.29%	18.91%	23.60%	-12.29%	-14.17%	11.32%	23.37%
EBIT Q/Q Growth	-22.71%	16.81%	18.70%	-17.95%	-23.36%	22.59%	28.65%	-17.08%	-17.04%	14.19%	27.70%
NOPAT Q/Q Growth	-20.84%	14.40%	18.43%	-16.79%	-24.04%	24.84%	25.40%	-16.87%	-15.43%	11.94%	28.05%
Net Income Q/Q Growth	-22.52%	15.20%	20.29%	-18.22%	-26.48%	28.53%	26.69%	-20.02%	-17.85%	14.55%	32.57%
EPS Q/Q Growth	-21.93%	15.41%	21.73%	-18.06%	-25.72%	28.27%	26.72%	-20.22%	-17.98%	14.62%	32.75%
Operating Cash Flow Q/Q Growth	61.82%	22.20%	17.40%	-35.76%	11.79%	16.14%	-1.60%	-21.74%	10.35%	-7.41%	7.35%
Free Cash Flow Firm Q/Q Growth	-11.53%	96.49%	5,568.83%	6.49%	-19.22%	30.57%	-365.04%	-3.46%	-0.52%	-8.01%	122.84%
Invested Capital Q/Q Growth	0.47%	-1.53%	-1.76%	1.66%	0.23%	-2.44%	44.95%	0.50%	-0.80%	0.84%	2.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.28%	33.70%	32.99%	33.78%	33.08%	34.14%	33.39%	33.38%	32.83%	33.77%	33.41%
EBITDA Margin	15.38%	17.03%	17.00%	16.53%	14.30%	16.24%	16.94%	15.95%	13.86%	15.37%	16.70%
Operating Margin	13.26%	14.90%	15.35%	14.34%	11.91%	13.95%	15.13%	13.47%	11.32%	12.88%	14.48%
EBIT Margin	13.26%	14.90%	15.35%	14.34%	11.91%	13.95%	15.13%	13.47%	11.32%	12.88%	14.48%
Profit (Net Income) Margin	9.38%	10.40%	10.86%	10.10%	8.05%	9.89%	10.56%	9.07%	7.55%	8.61%	10.05%
Tax Burden Percent	77.39%	75.79%	75.62%	76.69%	76.01%	77.40%	75.45%	75.64%	77.10%	75.58%	75.79%
Interest Burden Percent	91.41%	92.06%	93.50%	91.90%	88.95%	91.57%	92.52%	89.02%	86.47%	88.49%	91.61%
Effective Tax Rate	22.61%	24.21%	24.38%	23.31%	23.99%	22.60%	24.55%	24.36%	22.90%	24.42%	24.21%
Return on Invested Capital (ROIC)	41.40%	44.85%	44.60%	40.67%	33.15%	40.10%	35.02%	31.46%	27.92%	31.97%	30.51%
ROIC Less NNEP Spread (ROIC-NNEP)	40.59%	44.02%	43.78%	39.84%	32.28%	39.27%	34.23%	30.50%	26.90%	30.97%	29.70%
Return on Net Nonoperating Assets (RNNOA)	-23,683.79%	-2,606.70%	2,201.94%	1,173.67%	1,000.84%	1,431.81%	555.68%	392.68%	322.30%	283.44%	204.07%
Return on Equity (ROE)	-23,642.39%	-2,561.85%	2,246.54%	1,214.35%	1,033.98%	1,471.92%	590.70%	424.14%	350.22%	315.41%	234.58%
Cash Return on Invested Capital (CROIC)	31.63%	34.94%	41.90%	42.15%	40.98%	42.03%	-3.55%	-2.84%	-1.09%	-4.22%	24.89%
Operating Return on Assets (OROA)	28.15%	30.34%	31.24%	28.91%	23.77%	27.21%	26.57%	24.10%	20.92%	23.53%	24.27%
Return on Assets (ROA)	19.91%	21.17%	22.09%	20.38%	16.07%	19.29%	18.55%	16.23%	13.95%	15.74%	16.85%
Return on Common Equity (ROCE)	-23,642.39%	-2,561.85%	2,246.54%	1,214.35%	1,033.98%	1,471.92%	590.70%	424.14%	350.22%	315.41%	234.58%
Return on Equity Simple (ROE_SIMPLE)	0.00%	4,626.24%	1,215.96%	1,098.18%	0.00%	817.03%	334.21%	252.51%	0.00%	184.02%	0.00%
Net Operating Profit after Tax (NOPAT)	3,678	4,207	4,983	4,146	3,149	3,931	4,930	4,098	3,466	3,880	4,968
NOPAT Margin	10.26%	11.29%	11.61%	10.99%	9.05%	10.79%	11.42%	10.19%	8.73%	9.73%	10.97%
Net Nonoperating Expense Percent (NNEP)	0.81%	0.84%	0.82%	0.84%	0.86%	0.83%	0.79%	0.97%	1.02%	1.00%	0.80%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	5.77%	6.44%	7.89%
Cost of Revenue to Revenue	66.72%	66.30%	67.01%	66.22%	66.92%	65.86%	66.61%	66.62%	67.17%	66.23%	66.59%
SG&A Expenses to Revenue	18.28%	17.06%	16.11%	17.63%	19.20%	18.31%	16.55%	17.93%	19.46%	18.89%	17.15%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.02%	18.80%	17.63%	19.44%	21.17%	20.19%	18.26%	19.91%	21.51%	20.89%	18.93%
Earnings before Interest and Taxes (EBIT)	4,752	5,551	6,589	5,406	4,143	5,079	6,534	5,418	4,495	5,133	6,555
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5,511	6,344	7,296	6,233	4,975	5,916	7,312	6,413	5,504	6,127	7,559
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	198.47	815.18	243.16	188.45	334.37	181.20	80.66	68.48	61.24	45.55	34.86
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.97	1.89	2.10	1.75	2.29	2.17	2.34	2.56	2.55	2.22	2.25
Price to Earnings (P/E)	18.12	17.62	20.00	17.16	23.05	22.18	24.13	27.12	27.47	24.75	25.41
Dividend Yield	2.50%	2.68%	2.47%	3.03%	2.38%	2.56%	2.41%	2.22%	2.20%	2.48%	2.44%
Earnings Yield	5.52%	5.68%	5.00%	5.83%	4.34%	4.51%	4.14%	3.69%	3.64%	4.04%	3.94%
Enterprise Value to Invested Capital (EV/IC)	8.34	8.13	8.96	7.49	9.41	9.12	7.01	7.64	7.85	7.02	7.00
Enterprise Value to Revenue (EV/Rev)	2.23	2.16	2.35	2.01	2.55	2.43	2.70	2.91	2.87	2.54	2.55
Enterprise Value to EBITDA (EV/EBITDA)	12.97	12.59	13.97	12.21	15.62	15.03	16.74	18.25	18.13	16.21	16.45
Enterprise Value to EBIT (EV/EBIT)	14.58	14.20	15.79	13.87	17.96	17.36	19.40	21.22	21.29	19.15	19.50
Enterprise Value to NOPAT (EV/NOPAT)	19.16	18.68	20.78	18.18	23.62	22.73	25.42	27.89	27.91	25.24	25.67
Enterprise Value to Operating Cash Flow (EV/OCF)	23.98	20.44	18.53	14.71	18.39	17.49	20.66	22.61	23.14	22.17	23.57
Enterprise Value to Free Cash Flow (EV/FCFF)	28.39	24.53	21.54	17.67	22.79	21.45	0.00	0.00	0.00	0.00	28.52
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	27.65	116.72	31.54	29.32	42.25	23.53	12.61	9.43	8.04	6.57	4.91
Long-Term Debt to Equity	26.86	113.02	30.53	28.37	40.94	23.11	11.74	8.65	7.30	5.95	4.31
Financial Leverage	-583.43	-59.22	50.29	29.46	31.00	36.46	16.23	12.88	11.98	9.15	6.87
Leverage Ratio	-1,106.87	-113.55	96.83	55.88	58.70	71.32	30.10	23.95	22.47	18.25	13.05
Compound Leverage Factor	-1,011.84	-104.53	90.54	51.35	52.21	65.31	27.85	21.32	19.43	16.15	11.96
Debt to Total Capital	96.51%	99.15%	96.93%	96.70%	97.69%	95.92%	92.65%	90.41%	88.94%	86.79%	83.07%
Short-Term Debt to Total Capital	2.75%	3.14%	3.11%	3.14%	3.03%	1.73%	6.43%	7.49%	8.16%	8.17%	10.16%
Long-Term Debt to Total Capital	93.76%	96.01%	93.81%	93.56%	94.66%	94.20%	86.23%	82.93%	80.78%	78.62%	72.91%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	3.49%	0.85%	3.07%	3.30%	2.31%	4.08%	7.35%	9.59%	11.06%	13.21%	16.93%
Debt to EBITDA	1.60	1.58	1.62	1.65	1.77	1.75	2.27	2.22	2.11	2.05	2.04
Net Debt to EBITDA	1.50	1.54	1.51	1.57	1.62	1.57	2.21	2.16	2.05	2.00	1.93
Long-Term Debt to EBITDA	1.55	1.53	1.56	1.60	1.71	1.72	2.12	2.03	1.92	1.86	1.79
Debt to NOPAT	2.36	2.35	2.40	2.46	2.68	2.64	3.45	3.39	3.25	3.19	3.19
Net Debt to NOPAT	2.21	2.28	2.24	2.34	2.45	2.38	3.35	3.29	3.15	3.11	3.02
Long-Term Debt to NOPAT	2.29	2.27	2.33	2.38	2.59	2.59	3.21	3.11	2.95	2.89	2.80
Altman Z-Score	6.30	6.16	6.52	6.10	6.60	6.31	5.42	5.70	5.88	5.51	5.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.41	1.27	1.31	1.30	1.35	1.34	1.15	1.13	1.11	1.09	1.15
Quick Ratio	0.26	0.22	0.27	0.25	0.32	0.34	0.25	0.25	0.23	0.23	0.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,273	-80	4,362	4,645	3,752	4,899	-12,985	-13,434	-13,503	-14,585	3,332
Operating Cash Flow to CapEx	508.75%	620.33%	832.20%	631.00%	551.63%	649.00%	752.29%	517.48%	424.25%	536.60%	506.33%
Free Cash Flow to Firm to Interest Expense	-5.04	-0.17	9.30	9.54	7.31	10.10	-22.66	-21.49	-21.16	-23.72	5.79
Operating Cash Flow to Interest Expense	10.19	11.84	14.05	8.69	9.23	11.33	9.44	6.77	7.32	7.03	8.07
Operating Cash Flow Less CapEx to Interest Expense	8.18	9.93	12.36	7.32	7.55	9.59	8.19	5.46	5.60	5.72	6.48
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.12	2.04	2.04	2.02	2.00	1.95	1.76	1.79	1.85	1.83	1.68
Accounts Receivable Turnover	46.69	38.23	40.97	40.11	45.95	36.51	32.57	31.83	38.76	32.62	29.01
Inventory Turnover	4.46	4.09	4.17	4.22	4.44	4.23	4.36	4.40	4.78	4.51	4.59
Fixed Asset Turnover	6.19	6.13	6.06	6.03	5.90	5.88	5.79	5.91	6.04	6.18	6.17
Accounts Payable Turnover	8.40	7.40	7.79	8.57	9.47	8.02	7.98	8.23	9.67	7.97	8.37
Days Sales Outstanding (DSO)	7.82	9.55	8.91	9.10	7.94	10.00	11.21	11.47	9.42	11.19	12.58
Days Inventory Outstanding (DIO)	81.90	89.29	87.44	86.53	82.29	86.35	83.71	82.90	76.34	80.95	79.47
Days Payable Outstanding (DPO)	43.44	49.34	46.86	42.59	38.54	45.52	45.74	44.35	37.76	45.80	43.62
Cash Conversion Cycle (CCC)	46.28	49.50	49.48	53.05	51.69	50.83	49.18	50.02	48.00	46.34	48.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	41,998	41,355	40,627	41,301	41,395	40,387	58,542	58,833	58,364	58,852	60,178
Invested Capital Turnover	4.03	3.97	3.84	3.70	3.66	3.71	3.07	3.09	3.20	3.28	2.78
Increase / (Decrease) in Invested Capital	5,951	4,287	621	-499	-603	-968	17,915	17,532	16,969	18,465	1,636
Enterprise Value (EV)	350,442	336,090	363,910	309,351	389,438	368,354	410,617	449,282	458,389	413,242	421,278
Market Capitalization	310,006	295,097	324,618	269,480	349,087	329,787	356,495	396,235	406,665	362,345	371,765
Book Value per Share	$1.53	$0.36	$1.33	$1.43	$1.05	$1.84	$4.46	$5.83	$6.68	$8.00	$10.72
Tangible Book Value per Share	($5.77)	($6.98)	($6.30)	($6.51)	($11.07)	($6.70)	($24.41)	($22.91)	($21.96)	($20.62)	($17.81)
Total Capital	44,755	42,615	43,441	43,359	45,155	44,651	60,155	60,364	60,023	60,221	62,982
Total Debt	43,193	42,253	42,106	41,929	44,111	42,831	55,735	54,578	53,383	52,266	52,317
Total Long-Term Debt	41,962	40,915	40,754	40,567	42,743	42,060	51,869	50,058	48,485	47,343	45,917
Net Debt	40,436	40,993	39,292	39,871	40,351	38,567	54,122	53,047	51,724	50,897	49,513
Capital Expenditures (CapEx)	903	905	792	671	858	847	719	818	1,101	806	917
Debt-free, Cash-free Net Working Capital (DFCFNWC)	7,835	7,055	6,141	6,414	5,368	4,770	6,403	6,846	6,261	6,494	8,141
Debt-free Net Working Capital (DFNWC)	10,592	8,315	8,955	8,472	9,128	9,034	8,016	8,377	7,920	7,863	10,945
Net Working Capital (NWC)	9,361	6,977	7,603	7,110	7,760	8,263	4,150	3,857	3,022	2,940	4,545
Net Nonoperating Expense (NNE)	316	334	324	336	348	331	369	450	469	447	417
Net Nonoperating Obligations (NNO)	40,436	40,993	39,292	39,871	40,351	38,567	54,122	53,047	51,724	50,897	49,513
Total Depreciation and Amortization (D&A)	759	793	707	827	832	837	778	995	1,009	994	1,004
Debt-free, Cash-free Net Working Capital to Revenue	4.98%	4.53%	3.97%	4.17%	3.52%	3.14%	4.21%	4.43%	3.93%	3.99%	4.93%
Debt-free Net Working Capital to Revenue	6.73%	5.34%	5.78%	5.51%	5.98%	5.95%	5.27%	5.42%	4.97%	4.83%	6.63%
Net Working Capital to Revenue	5.95%	4.48%	4.91%	4.63%	5.08%	5.44%	2.73%	2.49%	1.89%	1.80%	2.75%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.32	$3.83	$4.66	$3.83	$2.84	$3.64	$4.61	$3.68	$3.03	$3.46	$4.59
Adjusted Weighted Average Basic Shares Outstanding	1.02B	1.01B	1B	996M	999M	989M	990M	991M	990M	992M	992M
Adjusted Diluted Earnings per Share	$3.31	$3.82	$4.65	$3.81	$2.83	$3.63	$4.60	$3.67	$3.01	$3.45	$4.58
Adjusted Weighted Average Diluted Shares Outstanding	1.03B	1.01B	1.00B	999M	1.00B	992M	992M	993M	993M	994M	994M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.01B	1.01B	1.00B	995.26M	991.02M	991.61M	993.29M	993.36M	994.03M	994.93M	995.39M
Normalized Net Operating Profit after Tax (NOPAT)	3,678	4,207	4,983	4,146	3,149	3,931	4,930	4,098	3,466	3,880	4,968
Normalized NOPAT Margin	10.26%	11.29%	11.61%	10.99%	9.05%	10.79%	11.42%	10.19%	8.73%	9.73%	10.97%
Pre Tax Income Margin	12.12%	13.72%	14.36%	13.17%	10.59%	12.77%	14.00%	11.99%	9.79%	11.40%	13.26%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.54	11.71	14.05	11.10	8.08	10.47	11.40	8.67	7.05	8.35	11.40
NOPAT to Interest Expense	8.15	8.88	10.62	8.51	6.14	8.11	8.60	6.56	5.43	6.31	8.64
EBIT Less CapEx to Interest Expense	8.53	9.80	12.36	9.72	6.40	8.73	10.15	7.36	5.32	7.04	9.81
NOPAT Less CapEx to Interest Expense	6.15	6.97	8.94	7.14	4.47	6.36	7.35	5.25	3.71	5.00	7.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	45.54%	47.44%	49.86%	52.45%	55.36%	57.12%	58.41%	60.05%	60.31%	61.38%	61.82%
Augmented Payout Ratio	84.68%	90.88%	97.22%	103.55%	107.87%	95.54%	83.09%	74.66%	64.69%	61.38%	61.82%

Financials Breakdown Chart

Key Financial Trends

Home Depot's financial performance over the past four years reveals steady growth in key areas, with notable strength in revenue, net income, and cash flow from operations. Below are the key highlights and trends from Home Depot’s quarterly financial statements, focusing on the last 16 quarters (Q1 2021 to Q2 2025):

Consistent Revenue Growth: Home Depot's total revenue has grown from approximately $37.5 billion in Q1 2021 to about $45.3 billion in Q2 2025, showing a solid upward trend in sales over the period.
Strong Net Income Performance: Net income has increased steadily from about $4.1 billion in Q1 2021 to $4.55 billion in Q2 2025. EPS also rose from $3.86 (diluted) in Q1 2021 to $4.58 in Q2 2025, reflecting improved profitability.
Robust Operating Cash Flow: Net cash from continuing operating activities improved from roughly $3.8 billion in Q1 2021 to $4.64 billion in Q2 2025, indicating strong cash generation capacity from core business operations.
Capex Investment Stability: Capital expenditures for property, plant & equipment have been stable around $700-900 million per quarter, supporting ongoing store improvements and expansion.
Dividend Growth & Shareholder Returns: Dividend payments have increased over time, with cash dividends per share rising from $1.65 in early 2021 to $2.3 in 2025 Q2. The company continues to return capital to shareholders steadily.
Debt Levels Relatively Stable: Long-term debt hovered around $35-$52 billion, while short-term debt varied quarterly. Net repayments and issuances have mostly balanced out, indicating stable leverage management.
Inventories and Receivables Fluctuation: Inventories generally increased to support growing sales, reaching over $24 billion. Accounts receivable have fluctuated moderately, in line with sales trends.
SG&A and Operating Expenses Growth: Selling, General & Admin expenses and total operating costs have increased but remain proportionate to revenue growth, preserving margins.
Significant Investing Cash Outflow in Q2 2024: A large negative net cash from investing activities of around $18.3 billion in Q2 2024, mainly driven by purchases of property, plant & equipment and acquisitions, which may affect short-term liquidity.
Equity Decrease in Early 2022 Q1: Total common equity was negative in Q1 2022, reflecting heavy treasury stock repurchases impacting shareholders' equity, which investors should monitor for impact on financial strength.

Summary: Overall, Home Depot exhibits healthy revenue and earnings growth, supported by strong operating cash flow and prudent capital investment, alongside increasing dividends. The company maintains stable debt levels and continues to generate significant shareholder value. However, investors should keep an eye on periods of high investing cash outflow and fluctuations in equity due to treasury stock activities. These financial trends underscore Home Depot’s solid position in the home improvement retail sector with steady shareholder returns over the analyzed period.

09/17/25 02:49 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Home Depot's Financials

When does Home Depot's financial year end?

According to the most recent income statement we have on file, Home Depot's fiscal year ends in February. Their fiscal year 2025 ended on February 2, 2025.

How has Home Depot's net income changed over the last 10 years?

Home Depot's net income appears to be on an upward trend, with a most recent value of $14.81 billion in 2024, rising from $6.35 billion in 2014. The previous period was $15.14 billion in 2023. Check out Home Depot's forecast to explore projected trends and price targets.

What is Home Depot's operating income?

Home Depot's total operating income in 2024 was $21.53 billion, based on the following breakdown:

Total Gross Profit: $53.31 billion
Total Operating Expenses: $31.78 billion

How has Home Depot's revenue changed over the last 10 years?

Over the last 10 years, Home Depot's total revenue changed from $83.18 billion in 2014 to $159.51 billion in 2024, a change of 91.8%.

How much debt does Home Depot have?

Home Depot's total liabilities were at $89.48 billion at the end of 2024, a 18.5% increase from 2023, and a 192.2% increase since 2014.

How much cash does Home Depot have?

In the past 10 years, Home Depot's cash and equivalents has ranged from $1.66 billion in 2024 to $7.90 billion in 2020, and is currently $1.66 billion as of their latest financial filing in 2024.

How has Home Depot's book value per share changed over the last 10 years?

Over the last 10 years, Home Depot's book value per share changed from 7.07 in 2014 to 6.68 in 2024, a change of -5.5%.

Related Companies

This page (NYSE:HD) was last updated on 9/17/2025 by MarketBeat.com Staff

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Home Depot (HD) Financials

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Home Depot (HD) Financials

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