What is Home Depot's operating income?

Home Depot's total operating income in 2025 was $20.89 billion, based on the following breakdown: Total Gross Profit: $54.87 billion Total Operating Expenses: $33.98 billion

Home Depot (HD) Financials

$313.42 +1.90 (+0.61%)

Closing price 06/3/2026 03:58 PM Eastern

Extended Trading

$314.36 +0.93 (+0.30%)

As of 07:45 AM Eastern

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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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	2/1/2026
Net Income / (Loss) Attributable to Common Shareholders	7,009	7,957	8,630	11,121	11,242	12,866	16,433	17,105	15,143	14,806	14,156
Consolidated Net Income / (Loss)	7,009	7,957	8,630	11,121	11,242	12,866	16,433	17,105	15,143	14,806	14,156
Net Income / (Loss) Continuing Operations	7,009	7,957	8,630	11,121	11,242	12,866	16,433	17,105	15,143	14,806	14,156
Total Pre-Tax Income	11,021	12,491	13,698	14,556	14,715	16,978	21,737	22,477	19,924	19,406	18,602
Total Operating Income	11,774	13,427	14,681	15,530	15,843	18,278	23,040	24,039	21,689	21,526	20,890
Total Gross Profit	30,265	32,313	34,356	37,160	37,572	44,853	50,832	52,778	50,960	53,308	54,865
Total Revenue	88,519	94,595	100,904	108,203	110,225	132,110	151,157	157,403	152,669	159,514	164,683
Operating Revenue	88,519	94,595	100,904	108,203	110,225	132,110	151,157	157,403	152,669	159,514	164,683
Total Cost of Revenue	58,254	62,282	66,548	71,043	72,653	87,257	100,325	104,625	101,709	106,206	109,818
Operating Cost of Revenue	58,254	62,282	66,548	71,043	72,653	87,257	100,325	104,625	101,709	106,206	109,818
Total Operating Expenses	18,491	18,886	19,675	21,630	21,729	26,575	27,792	28,739	29,271	31,782	33,975
Selling, General & Admin Expense	16,801	17,132	17,864	19,513	19,740	24,447	25,406	26,284	26,598	28,748	30,702
Depreciation Expense	1,690	1,754	1,811	1,870	1,989	2,128	2,386	2,455	2,673	3,034	3,273
Total Other Income / (Expense), net	-753	-936	-983	-974	-1,128	-1,300	-1,303	-1,562	-1,765	-2,120	-2,288
Interest Expense	919	972	1,057	1,051	1,201	1,347	1,347	1,617	1,943	2,321	2,412
Interest & Investment Income	166	36	74	93	73	47	44	55	178	201	124
Income Tax Expense	4,012	4,534	5,068	3,435	3,473	4,112	5,304	5,372	4,781	4,600	4,446
Basic Earnings per Share	$5.49	$6.47	$7.33	$9.78	$10.29	$11.98	$15.59	$16.74	$15.16	$14.96	$14.26
Weighted Average Basic Shares Outstanding	1.28B	1.23B	1.18B	1.14B	1.09B	1.07B	1.05B	1.02B	999M	990M	993M
Diluted Earnings per Share	$5.46	$6.45	$7.29	$9.73	$10.25	$11.94	$15.53	$16.69	$15.11	$14.91	$14.23
Weighted Average Diluted Shares Outstanding	1.28B	1.23B	1.18B	1.14B	1.10B	1.08B	1.06B	1.03B	1.00B	993M	995M
Weighted Average Basic & Diluted Shares Outstanding	1.28B	1.23B	1.18B	1.14B	1.07B	1.08B	1.03B	1.01B	991.02M	994.03M	996.01M
Cash Dividends to Common per Share	$2.36	$2.76	$3.56	$4.12	$5.44	$6.00	$6.60	$7.60	$8.36	$9.00	$9.20

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	2/2/2025	5/4/2025	8/3/2025	11/2/2025	2/1/2026	5/3/2026
Net Income / (Loss) Attributable to Common Shareholders	3,810	2,801	3,600	4,561	3,648	2,997	3,433	4,551	3,601	2,571	3,289
Consolidated Net Income / (Loss)	3,810	2,801	3,600	4,561	3,648	2,997	3,433	4,551	3,601	2,571	3,289
Net Income / (Loss) Continuing Operations	3,810	2,801	3,600	4,561	3,648	2,997	3,433	4,551	3,601	2,571	3,289
Total Pre-Tax Income	4,968	3,685	4,651	6,045	4,823	3,887	4,542	6,005	4,757	3,298	4,377
Total Operating Income	5,406	4,143	5,079	6,534	5,418	4,495	5,133	6,555	5,353	3,849	4,981
Total Gross Profit	12,738	11,508	12,433	14,416	13,425	13,034	13,459	15,125	13,815	12,466	13,781
Total Revenue	37,710	34,786	36,418	43,175	40,217	39,704	39,856	45,277	41,352	38,198	41,765
Operating Revenue	37,710	34,786	36,418	43,175	40,217	39,704	39,856	45,277	41,352	38,198	41,765
Total Cost of Revenue	24,972	23,278	23,985	28,759	26,792	26,670	26,397	30,152	27,537	25,732	27,984
Operating Cost of Revenue	24,972	23,278	23,985	28,759	26,792	26,670	26,397	30,152	27,537	25,732	27,984
Total Operating Expenses	7,332	7,365	7,354	7,882	8,007	8,539	8,326	8,570	8,462	8,617	8,800
Selling, General & Admin Expense	6,649	6,679	6,667	7,144	7,212	7,725	7,530	7,764	7,636	7,772	7,959
Depreciation Expense	683	686	687	738	795	814	796	806	826	845	841
Total Other Income / (Expense), net	-438	-458	-428	-489	-595	-608	-591	-550	-596	-551	-604
Interest Expense	487	513	485	573	625	638	615	575	628	594	611
Interest & Investment Income	49	55	57	84	30	30	24	25	32	43	7.00
Income Tax Expense	1,158	884	1,051	1,484	1,175	890	1,109	1,454	1,156	727	1,088
Basic Earnings per Share	$3.83	$2.84	$3.64	$4.61	$3.68	$3.03	$3.46	$4.59	$3.63	$2.58	$3.31
Weighted Average Basic Shares Outstanding	996M	999M	989M	990M	991M	990M	992M	992M	993M	993M	994M
Diluted Earnings per Share	$3.81	$2.83	$3.63	$4.60	$3.67	$3.01	$3.45	$4.58	$3.62	$2.58	$3.30
Weighted Average Diluted Shares Outstanding	999M	1.00B	992M	992M	993M	993M	994M	994M	995M	995M	996M
Weighted Average Basic & Diluted Shares Outstanding	995.26M	991.02M	991.61M	993.29M	993.36M	994.03M	994.93M	995.39M	995.51M	996.01M	997.12M
Cash Dividends to Common per Share	$2.09	$2.09	$2.25	-	$2.25	-	$2.30	-	$2.30	-	$2.33

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	2/1/2026
Net Change in Cash & Equivalents	604	330	933	-1,798	236	5,686	-5,518	482	1,000	-1,915	-369
Net Cash From Operating Activities	9,373	9,783	12,031	13,165	13,687	18,839	16,571	14,615	21,172	19,810	16,325
Net Cash From Continuing Operating Activities	9,373	9,783	12,031	13,165	13,687	18,839	16,571	14,615	21,172	19,810	16,325
Net Income / (Loss) Continuing Operations	7,009	7,957	8,630	11,121	11,242	12,866	16,433	17,105	15,143	14,806	14,156
Consolidated Net Income / (Loss)	7,009	7,957	8,630	11,121	11,242	12,866	16,433	17,105	15,143	14,806	14,156
Depreciation Expense	1,863	1,973	2,062	2,152	2,296	2,519	2,862	2,796	3,061	3,336	3,514
Amortization Expense	-	-	-	-	-	-	-	179	186	425	607
Non-Cash Adjustments To Reconcile Net Income	100	267	273	529	251	310	399	366	380	442	522
Changes in Operating Assets and Liabilities, net	401	-414	1,066	-637	-102	3,144	-3,123	-5,831	2,402	801	-2,474
Net Cash From Investing Activities	-2,982	-1,583	-2,228	-2,416	-2,653	-10,170	-2,969	-3,140	-4,729	-21,031	-8,980
Net Cash From Continuing Investing Activities	-2,982	-1,583	-2,228	-2,416	-2,653	-10,170	-2,969	-3,140	-4,729	-21,031	-8,980
Purchase of Property, Plant & Equipment	-1,503	-1,621	-1,897	-2,442	-2,678	-2,463	-2,566	-3,119	-3,226	-3,485	-3,679
Acquisitions	-1,666	0.00	-374	-21	0.00	-7,780	-421	0.00	-1,514	-17,644	-5,410
Other Investing Activities, net	0.00	0.00	-4.00	47	25	73	18	-21	11	98	109
Net Cash From Financing Activities	-5,787	-7,870	-8,870	-12,547	-10,798	-2,983	-19,120	-10,993	-15,443	-694	-7,714
Net Cash From Continuing Financing Activities	-5,787	-7,870	-8,870	-12,547	-10,798	-2,983	-19,120	-10,993	-15,443	-694	-7,714
Repayment of Debt	-35	-3,123	-754	-1,582	-1,575	-3,026	-1,677	-3,714	-1,427	-1,837	-5,185
Repurchase of Common Equity	-7,000	-6,880	-8,000	-9,963	-6,965	-791	-14,809	-6,696	-7,951	-649	0.00
Payment of Dividends	-3,031	-3,404	-4,212	-4,704	-5,958	-6,451	-6,985	-7,789	-8,383	-8,929	-9,152
Issuance of Debt	4,051	5,319	3,841	3,466	3,420	6,959	4,014	6,942	1,995	10,326	6,309
Issuance of Common Equity	228	218	255	236	280	326	337	264	323	395	314
Cash Interest Paid	874	924	991	1,035	1,112	1,241	1,269	1,449	1,809	2,199	2,405

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	2/2/2025	5/4/2025	8/3/2025	11/2/2025	2/1/2026	5/3/2026
Net Change in Cash & Equivalents	-669	1,632	521	-2,600	-57	221	-362	1,458	-1,117	-348	210
Net Cash From Operating Activities	4,234	4,733	5,497	5,409	4,233	4,671	4,325	4,643	4,010	3,347	6,032
Net Cash From Continuing Operating Activities	4,234	4,733	5,497	5,409	4,233	4,671	4,325	4,643	4,010	3,347	6,032
Net Income / (Loss) Continuing Operations	3,810	2,801	3,600	4,561	3,648	2,997	3,433	4,551	3,601	2,571	3,289
Consolidated Net Income / (Loss)	3,810	2,801	3,600	4,561	3,648	2,997	3,433	4,551	3,601	2,571	3,289
Depreciation Expense	779	832	785	778	857	864	855	865	886	908	910
Amortization Expense	48	-	52	-	138	145	139	139	158	171	171
Non-Cash Adjustments To Reconcile Net Income	85	80	124	98	106	114	170	118	120	114	178
Changes in Operating Assets and Liabilities, net	-488	1,020	936	-170	-516	551	-272	-1,030	-755	-417	1,484
Net Cash From Investing Activities	-1,246	-1,581	-830	-18,268	-814	-1,119	-931	-961	-5,873	-1,215	-1,109
Net Cash From Continuing Investing Activities	-1,246	-1,581	-830	-18,268	-814	-1,119	-931	-961	-5,873	-1,215	-1,109
Purchase of Property, Plant & Equipment	-671	-858	-847	-719	-818	-1,101	-806	-917	-898	-1,058	-844
Acquisitions	-580	-719	0.00	-	-43	-31	-156	-77	-5,015	-162	-286
Other Investing Activities, net	5.00	-4.00	17	21	47	13	31	33	40	5.00	21
Net Cash From Financing Activities	-3,657	-1,520	-4,146	10,259	-3,476	-3,331	-3,756	-2,224	746	-2,480	-4,713
Net Cash From Continuing Financing Activities	-3,657	-1,520	-4,146	10,259	-3,476	-3,331	-3,756	-2,224	746	-2,480	-4,713
Repayment of Debt	-74	-81	-1,330	-129	-111	57	-1,510	-135	978	-4,518	-1,534
Payment of Dividends	-2,089	-2,079	-2,229	-2,231	-2,234	-2,235	-2,286	-2,288	-2,289	-2,289	-2,320
Issuance of Debt	-	1,995	0.00	12,471	-1,152	-1,317	29	47	2,035	4,198	-892
Issuance of Common Equity	17	131	62	148	21	164	11	152	22	129	33
Other Net Changes in Cash	-	-	-	-	-	-	-	-	-	-	2.00
Cash Interest Paid	604	305	621	361	658	559	648	541	646	570	638
Cash Income Taxes Paid	923	1,206	249	2,385	845	174	1,098	1,994	898	-	180

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	2/1/2026
Total Assets	41,973	42,966	44,529	44,003	51,236	70,581	71,876	76,445	76,530	96,119	105,095
Total Current Assets	16,484	17,724	18,933	18,529	19,810	28,477	29,055	32,471	29,775	31,683	34,391
Cash & Equivalents	2,216	2,538	3,595	1,778	2,133	7,895	2,343	2,757	3,760	1,659	1,389
Accounts Receivable	1,890	2,029	1,952	1,936	2,106	2,992	3,426	3,317	3,328	4,903	5,597
Inventories, net	11,809	12,549	12,748	13,925	14,531	16,627	22,068	24,886	20,976	23,451	25,817
Other Current Assets	569	608	638	890	1,040	963	1,218	1,511	1,711	1,670	1,588
Plant, Property, & Equipment, net	22,191	21,914	22,075	0.00	22,770	24,705	25,199	25,631	26,154	26,702	28,021
Total Noncurrent Assets	3,298	3,328	3,521	25,474	8,656	17,399	17,622	18,343	20,601	37,734	42,683
Goodwill	2,102	2,093	2,275	2,252	2,254	7,126	7,449	7,444	8,455	19,475	22,344
Intangible Assets	-	-	-	-	-	-	-	-	3,606	8,983	10,329
Other Noncurrent Operating Assets	1,196	1,235	1,246	23,222	6,402	10,273	10,173	10,899	8,540	9,276	10,010
Total Liabilities & Shareholders' Equity	41,973	42,966	44,529	44,003	51,236	70,581	71,876	76,445	76,530	96,119	105,095
Total Liabilities	35,657	38,633	43,075	45,881	54,352	67,282	73,572	74,883	75,486	89,479	92,282
Total Current Liabilities	12,524	14,133	16,194	16,716	18,375	23,166	28,693	23,110	22,015	28,661	32,424
Short-Term Debt	427	1,252	2,761	2,395	2,813	1,416	3,482	1,231	1,368	4,898	9,431
Accounts Payable	6,565	7,000	7,244	7,755	7,787	11,606	13,462	11,443	10,037	11,938	11,491
Accrued Expenses	1,941	2,195	2,170	2,611	2,677	3,063	3,891	3,858	4,225	4,166	4,358
Current Deferred Revenue	1,566	1,669	1,805	1,782	2,116	2,823	3,596	3,064	2,762	2,610	2,575
Current Deferred & Payable Income Tax Liabilities	34	25	54	11	55	193	158	50	28	832	114
Current Employee Benefit Liabilities	1,515	1,484	1,640	1,506	1,494	2,463	2,426	1,991	2,096	2,315	2,529
Other Taxes Payable	476	508	520	656	605	774	848	528	449	628	508
Other Current Liabilities	-	-	-	0.00	828	828	830	945	1,050	1,274	1,418
Total Noncurrent Liabilities	23,133	24,500	26,881	29,165	35,977	44,116	44,879	51,773	53,471	60,818	59,858
Long-Term Debt	20,789	22,349	24,267	26,807	28,670	35,822	36,604	41,962	42,743	48,485	46,341
Noncurrent Deferred & Payable Income Tax Liabilities	379	296	440	491	706	1,131	909	1,019	863	1,962	2,845
Other Noncurrent Operating Liabilities	1,965	1,855	2,174	1,867	6,601	7,163	7,366	8,792	9,865	10,371	10,672
Commitments & Contingencies	-	-	-	-	-	-	-	-	-	0.00	0.00
Total Equity & Noncontrolling Interests	6,316	4,333	1,454	-1,878	-3,116	3,299	-1,696	1,562	1,044	6,640	12,813
Total Preferred & Common Equity	6,316	4,333	1,454	-1,878	-3,116	3,299	-1,696	1,562	1,044	6,640	12,813
Total Common Equity	6,316	4,333	1,454	-1,878	-3,116	3,299	-1,696	1,562	1,044	6,640	12,813
Common Stock	9,435	9,875	10,281	10,667	11,090	11,629	12,222	12,682	13,237	14,207	14,899
Retained Earnings	30,973	35,519	39,935	46,423	51,729	58,134	67,580	76,896	83,656	89,533	94,537
Treasury Stock	-33,194	-40,194	-48,196	-58,196	-65,196	-65,793	-80,794	-87,298	-95,372	-95,971	-95,971
Accumulated Other Comprehensive Income / (Loss)	-898	-867	-566	-772	-739	-671	-704	-718	-477	-1,129	-652

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	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	11/2/2025	5/3/2026
Total Assets	76,386	76,387	75,577	76,530	79,230	96,846	97,264	99,157	100,049	106,274	107,904
Total Current Assets	32,423	31,830	30,682	29,775	32,622	32,273	32,949	34,529	35,391	36,115	37,172
Cash & Equivalents	1,260	2,814	2,058	3,760	4,264	1,613	1,531	1,369	2,804	1,684	1,601
Accounts Receivable	4,213	3,836	3,932	3,328	4,105	5,503	5,782	5,886	5,878	6,765	6,624
Inventories, net	25,371	23,265	22,805	20,976	22,416	23,060	23,897	25,763	24,843	26,203	27,280
Other Current Assets	1,579	1,915	1,887	1,711	1,837	2,097	1,739	1,511	1,866	1,463	1,667
Plant, Property, & Equipment, net	25,674	25,879	25,735	26,154	25,997	26,640	26,573	26,780	26,896	27,683	27,930
Total Noncurrent Assets	18,289	18,678	19,160	20,601	20,611	37,933	37,742	37,848	37,762	42,476	42,802
Goodwill	7,447	7,664	7,937	8,455	8,464	19,414	19,428	19,568	19,619	22,267	22,479
Intangible Assets	-	-	-	3,606	-	9,214	9,112	8,888	8,770	10,416	10,244
Other Noncurrent Operating Assets	10,842	11,014	11,223	8,540	12,147	9,305	9,202	9,392	9,373	9,793	10,079
Total Liabilities & Shareholders' Equity	76,386	76,387	75,577	76,530	79,230	96,846	97,264	99,157	100,049	106,274	107,904
Total Liabilities	76,024	75,052	74,147	75,486	77,410	92,426	91,478	91,202	89,384	94,158	94,030
Total Current Liabilities	25,446	24,227	23,572	22,015	24,359	28,123	29,092	31,589	30,846	34,367	35,580
Short-Term Debt	1,338	1,352	1,362	1,368	771	3,866	4,520	4,923	6,400	9,671	8,681
Accounts Payable	12,630	12,104	11,478	10,037	12,563	13,206	13,506	14,696	13,086	13,237	14,373
Accrued Expenses	3,725	4,009	3,994	4,225	3,793	4,265	4,366	4,103	4,336	4,540	4,472
Current Deferred Revenue	3,119	3,079	2,784	2,762	2,841	2,754	2,595	2,779	2,605	2,543	2,682
Current Deferred & Payable Income Tax Liabilities	1,054	19	304	28	637	40	94	829	37	46	851
Current Employee Benefit Liabilities	1,931	2,022	2,034	2,096	2,005	2,105	2,094	2,180	2,385	2,245	2,237
Other Taxes Payable	683	631	590	449	676	645	655	768	661	668	800
Other Current Liabilities	966	1,011	1,026	1,050	1,073	1,242	1,262	1,311	1,336	1,417	1,484
Total Noncurrent Liabilities	50,578	50,825	50,575	53,471	53,051	64,303	62,386	59,613	58,538	59,791	58,450
Long-Term Debt	40,915	40,754	40,567	42,743	42,060	51,869	50,058	47,343	45,917	46,343	44,828
Noncurrent Deferred & Payable Income Tax Liabilities	954	956	753	863	946	2,074	2,083	1,994	2,491	2,883	2,898
Other Noncurrent Operating Liabilities	8,709	9,115	9,255	9,865	10,045	10,360	10,245	10,276	10,130	10,565	10,724
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	362	1,335	1,430	1,044	1,820	4,420	5,786	7,955	10,665	12,116	13,874
Total Preferred & Common Equity	362	1,335	1,430	1,044	1,820	4,420	5,786	7,955	10,665	12,116	13,874
Total Common Equity	362	1,335	1,430	1,044	1,820	4,420	5,786	7,955	10,665	12,116	13,874
Common Stock	12,674	12,932	13,017	13,237	13,243	13,821	13,925	14,249	14,528	14,652	14,997
Retained Earnings	78,651	81,213	82,934	83,656	85,027	87,357	88,771	90,680	92,943	94,255	95,506
Treasury Stock	-90,326	-92,343	-93,859	-95,372	-95,972	-95,971	-95,971	-95,971	-95,971	-95,971	-95,971
Accumulated Other Comprehensive Income / (Loss)	-637	-467	-662	-477	-478	-787	-939	-1,003	-835	-820	-658

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	2/1/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	995,511,485.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	995,511,485.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	14.22
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	7,488	8,553	9,249	11,865	12,104	13,851	17,418	18,294	16,484	16,423	15,897
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	27.36%	23.18%
Earnings before Interest and Taxes (EBIT)	11,774	13,427	14,681	15,514	15,843	18,278	23,040	24,039	21,689	21,526	20,890
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13,637	15,400	16,743	17,666	18,139	20,797	25,902	27,014	24,936	25,287	25,011
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6,968	8,473	9,758	11,206	11,416	7,443	14,013	12,343	17,087	-546	7,065
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	25,316	25,396	24,887	25,546	26,234	32,642	36,047	41,998	41,395	58,364	67,196
Increase / (Decrease) in Invested Capital	520	80	-509	659	688	6,408	3,405	5,951	-603	16,969	8,832
Book Value per Share	$4.98	$3.56	$1.25	($1.66)	($2.86)	$3.06	($1.62)	$1.53	$1.05	$6.68	$12.87
Tangible Book Value per Share	$3.32	$1.84	($0.70)	($3.66)	($4.92)	($3.55)	($8.76)	($5.77)	($11.07)	($21.96)	($19.95)
Total Capital	27,532	27,934	28,482	27,324	28,367	40,537	38,390	44,755	45,155	60,023	68,585
Total Debt	21,216	23,601	27,028	29,202	31,483	37,238	40,086	43,193	44,111	53,383	55,772
Total Long-Term Debt	20,789	22,349	24,267	26,807	28,670	35,822	36,604	41,962	42,743	48,485	46,341
Net Debt	19,000	21,063	23,433	27,424	29,350	29,343	37,743	40,436	40,351	51,724	54,383
Capital Expenditures (CapEx)	1,316	1,583	1,850	2,442	2,678	2,463	2,566	3,119	3,226	3,485	3,679
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,171	2,305	1,905	2,430	2,115	-1,168	1,501	7,835	5,368	6,261	10,009
Debt-free Net Working Capital (DFNWC)	4,387	4,843	5,500	4,208	4,248	6,727	3,844	10,592	9,128	7,920	11,398
Net Working Capital (NWC)	3,960	3,591	2,739	1,813	1,435	5,311	362	9,361	7,760	3,022	1,967
Net Nonoperating Expense (NNE)	479	596	619	744	862	985	985	1,189	1,341	1,617	1,741
Net Nonoperating Obligations (NNO)	19,000	21,063	23,433	27,424	29,350	29,343	37,743	40,436	40,351	51,724	54,383
Total Depreciation and Amortization (D&A)	1,863	1,973	2,062	2,152	2,296	2,519	2,862	2,975	3,247	3,761	4,121
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.49	$6.47	$7.33	$9.78	$10.29	$11.98	$15.59	$16.74	$15.16	$14.96	$14.26
Adjusted Weighted Average Basic Shares Outstanding	1.28B	1.23B	1.18B	1.14B	1.09B	1.07B	1.05B	1.02B	999M	990M	993M
Adjusted Diluted Earnings per Share	$5.46	$6.45	$7.29	$9.73	$10.25	$11.94	$15.53	$16.69	$15.11	$14.91	$14.23
Adjusted Weighted Average Diluted Shares Outstanding	1.28B	1.23B	1.18B	1.14B	1.10B	1.08B	1.06B	1.03B	1.00B	993M	995M
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	1.25B	1.20B	1.16B	1.10B	1.07B	1.08B	1.03B	1.01B	991.02M	994.03M	996.01M
Normalized Net Operating Profit after Tax (NOPAT)	7,488	8,553	9,249	12,054	12,104	13,851	17,418	18,294	16,484	16,423	15,897
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	2/2/2025	5/4/2025	8/3/2025	11/2/2025	2/1/2026	5/3/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	995,511,485.00	996,011,466.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	995,511,485.00	996,011,466.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	2.58	3.30
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.99%	-2.92%	-2.25%	0.60%	6.65%	14.14%	9.44%	4.87%	2.82%	-	4.79%
EBITDA Growth	-9.55%	-9.73%	-6.75%	0.22%	2.89%	10.63%	3.57%	1.41%	-0.25%	-	-1.06%
EBIT Growth	-12.07%	-12.82%	-8.50%	-0.83%	0.22%	8.50%	1.06%	0.32%	-1.20%	-	-2.96%
NOPAT Growth	-10.76%	-14.37%	-6.56%	-1.06%	-1.15%	10.06%	-1.31%	0.77%	-1.12%	-	-3.53%
Net Income Growth	-12.19%	-16.69%	-7.05%	-2.10%	-4.25%	7.00%	-4.64%	-0.22%	-1.29%	-	-4.19%
EPS Growth	-10.14%	-14.50%	-4.97%	-1.08%	-3.67%	6.36%	-4.96%	-0.43%	-1.36%	-	-4.35%
Operating Cash Flow Growth	49.14%	3.03%	-2.08%	-17.93%	-0.02%	-1.31%	-21.32%	-14.16%	-5.27%	-	39.47%
Free Cash Flow Firm Growth	327.89%	265.06%	6,242.93%	-397.71%	-389.22%	-459.88%	-397.70%	125.66%	73.49%	-	78.15%
Invested Capital Growth	-1.19%	-1.44%	-2.34%	44.10%	42.45%	40.99%	45.72%	2.79%	12.94%	-	11.78%
Revenue Q/Q Growth	-12.13%	-7.75%	4.69%	18.55%	-6.85%	-1.28%	0.38%	13.60%	-8.67%	-	9.34%
EBITDA Q/Q Growth	-14.57%	-21.29%	18.91%	23.60%	-12.29%	-14.17%	11.32%	23.37%	-15.37%	-	23.01%
EBIT Q/Q Growth	-17.95%	-23.36%	22.59%	28.65%	-17.08%	-17.04%	14.19%	27.70%	-18.34%	-	29.41%
NOPAT Q/Q Growth	-16.79%	-24.04%	24.84%	25.40%	-16.87%	-15.43%	11.94%	28.05%	-18.43%	-	24.74%
Net Income Q/Q Growth	-18.22%	-26.48%	28.53%	26.69%	-20.02%	-17.85%	14.55%	32.57%	-20.87%	-	27.93%
EPS Q/Q Growth	-18.06%	-25.72%	28.27%	26.72%	-20.22%	-17.98%	14.62%	32.75%	-20.96%	-	27.91%
Operating Cash Flow Q/Q Growth	-35.76%	11.79%	16.14%	-1.60%	-21.74%	10.35%	-7.41%	7.35%	-13.63%	-	80.22%
Free Cash Flow Firm Q/Q Growth	6.49%	-19.22%	30.57%	-365.04%	-3.46%	-0.52%	-8.01%	122.84%	-206.87%	-	45.35%
Invested Capital Q/Q Growth	1.66%	0.23%	-2.44%	44.95%	0.50%	-0.80%	0.84%	2.25%	10.42%	-	-2.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.78%	33.08%	34.14%	33.39%	33.38%	32.83%	33.77%	33.41%	33.41%	-	33.00%
EBITDA Margin	16.53%	14.30%	16.24%	16.94%	15.95%	13.86%	15.37%	16.70%	15.47%	-	14.51%
Operating Margin	14.34%	11.91%	13.95%	15.13%	13.47%	11.32%	12.88%	14.48%	12.95%	-	11.93%
EBIT Margin	14.34%	11.91%	13.95%	15.13%	13.47%	11.32%	12.88%	14.48%	12.95%	-	11.93%
Profit (Net Income) Margin	10.10%	8.05%	9.89%	10.56%	9.07%	7.55%	8.61%	10.05%	8.71%	-	7.88%
Tax Burden Percent	76.69%	76.01%	77.40%	75.45%	75.64%	77.10%	75.58%	75.79%	75.70%	-	75.14%
Interest Burden Percent	91.90%	88.95%	91.57%	92.52%	89.02%	86.47%	88.49%	91.61%	88.87%	-	87.87%
Effective Tax Rate	23.31%	23.99%	22.60%	24.55%	24.36%	22.90%	24.42%	24.21%	24.30%	-	24.86%
Return on Invested Capital (ROIC)	40.67%	33.15%	40.10%	35.02%	31.46%	27.92%	31.97%	30.51%	26.00%	-	23.96%
ROIC Less NNEP Spread (ROIC-NNEP)	39.84%	32.28%	39.27%	34.23%	30.50%	26.90%	30.97%	29.70%	25.16%	-	23.07%
Return on Net Nonoperating Assets (RNNOA)	1,173.67%	1,000.84%	1,431.81%	555.68%	392.68%	322.30%	283.44%	204.07%	150.90%	-	108.67%
Return on Equity (ROE)	1,214.35%	1,033.98%	1,471.92%	590.70%	424.14%	350.22%	315.41%	234.58%	176.90%	-	132.63%
Cash Return on Invested Capital (CROIC)	42.15%	40.98%	42.03%	-3.55%	-2.84%	-1.09%	-4.22%	24.89%	13.97%	-	14.17%
Operating Return on Assets (OROA)	28.91%	23.77%	27.21%	26.57%	24.10%	20.92%	23.53%	24.27%	21.14%	-	19.19%
Return on Assets (ROA)	20.38%	16.07%	19.29%	18.55%	16.23%	13.95%	15.74%	16.85%	14.22%	-	12.67%
Return on Common Equity (ROCE)	1,214.35%	1,033.98%	1,471.92%	590.70%	424.14%	350.22%	315.41%	234.58%	176.90%	-	132.63%
Return on Equity Simple (ROE_SIMPLE)	1,098.18%	0.00%	817.03%	334.21%	252.51%	0.00%	184.02%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	4,146	3,149	3,931	4,930	4,098	3,466	3,880	4,968	4,052	3,001	3,743
NOPAT Margin	10.99%	9.05%	10.79%	11.42%	10.19%	8.73%	9.73%	10.97%	9.80%	-	8.96%
Net Nonoperating Expense Percent (NNEP)	0.84%	0.86%	0.83%	0.79%	0.97%	1.02%	1.00%	0.80%	0.84%	-	0.88%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	5.77%	6.44%	7.89%	5.95%	4.37%	5.55%
Cost of Revenue to Revenue	66.22%	66.92%	65.86%	66.61%	66.62%	67.17%	66.23%	66.59%	66.59%	-	67.00%
SG&A Expenses to Revenue	17.63%	19.20%	18.31%	16.55%	17.93%	19.46%	18.89%	17.15%	18.47%	-	19.06%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	19.44%	21.17%	20.19%	18.26%	19.91%	21.51%	20.89%	18.93%	20.46%	-	21.07%
Earnings before Interest and Taxes (EBIT)	5,406	4,143	5,079	6,534	5,418	4,495	5,133	6,555	5,353	3,849	4,981
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6,233	4,975	5,916	7,312	6,413	5,504	6,127	7,559	6,397	4,928	6,062
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	188.45	334.37	181.20	80.66	68.48	61.24	45.55	34.86	31.19	-	23.25
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
Price to Revenue (P/Rev)	1.75	2.29	2.17	2.34	2.56	2.55	2.22	2.25	2.27	-	1.94
Price to Earnings (P/E)	17.16	23.05	22.18	24.13	27.12	27.47	24.75	25.41	25.91	-	23.02
Dividend Yield	3.03%	2.38%	2.56%	2.41%	2.22%	2.20%	2.48%	2.44%	2.41%	-	2.85%
Earnings Yield	5.83%	4.34%	4.51%	4.14%	3.69%	3.64%	4.04%	3.94%	3.86%	-	4.34%
Enterprise Value to Invested Capital (EV/IC)	7.49	9.41	9.12	7.01	7.64	7.85	7.02	7.00	6.50	-	5.69
Enterprise Value to Revenue (EV/Rev)	2.01	2.55	2.43	2.70	2.91	2.87	2.54	2.55	2.60	-	2.25
Enterprise Value to EBITDA (EV/EBITDA)	12.21	15.62	15.03	16.74	18.25	18.13	16.21	16.45	16.89	-	15.01
Enterprise Value to EBIT (EV/EBIT)	13.87	17.96	17.36	19.40	21.22	21.29	19.15	19.50	20.07	-	18.06
Enterprise Value to NOPAT (EV/NOPAT)	18.18	23.62	22.73	25.42	27.89	27.91	25.24	25.67	26.41	-	23.76
Enterprise Value to Operating Cash Flow (EV/OCF)	14.71	18.39	17.49	20.66	22.61	23.14	22.17	23.57	24.49	-	20.77
Enterprise Value to Free Cash Flow (EV/FCFF)	17.67	22.79	21.45	0.00	0.00	0.00	0.00	28.52	49.39	-	42.41
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	29.32	42.25	23.53	12.61	9.43	8.04	6.57	4.91	4.62	-	3.86
Long-Term Debt to Equity	28.37	40.94	23.11	11.74	8.65	7.30	5.95	4.31	3.82	-	3.23
Financial Leverage	29.46	31.00	36.46	16.23	12.88	11.98	9.15	6.87	6.00	-	4.71
Leverage Ratio	55.88	58.70	71.32	30.10	23.95	22.47	18.25	13.05	11.37	-	9.49
Compound Leverage Factor	51.35	52.21	65.31	27.85	21.32	19.43	16.15	11.96	10.10	-	8.34
Debt to Total Capital	96.70%	97.69%	95.92%	92.65%	90.41%	88.94%	86.79%	83.07%	82.22%	-	79.41%
Short-Term Debt to Total Capital	3.14%	3.03%	1.73%	6.43%	7.49%	8.16%	8.17%	10.16%	14.19%	-	12.88%
Long-Term Debt to Total Capital	93.56%	94.66%	94.20%	86.23%	82.93%	80.78%	78.62%	72.91%	68.02%	-	66.53%
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%
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%
Common Equity to Total Capital	3.30%	2.31%	4.08%	7.35%	9.59%	11.06%	13.21%	16.93%	17.78%	-	20.59%
Debt to EBITDA	1.65	1.77	1.75	2.27	2.22	2.11	2.05	2.04	2.19	-	2.15
Net Debt to EBITDA	1.57	1.62	1.57	2.21	2.16	2.05	2.00	1.93	2.12	-	2.08
Long-Term Debt to EBITDA	1.60	1.71	1.72	2.12	2.03	1.92	1.86	1.79	1.81	-	1.80
Debt to NOPAT	2.46	2.68	2.64	3.45	3.39	3.25	3.19	3.19	3.42	-	3.40
Net Debt to NOPAT	2.34	2.45	2.38	3.35	3.29	3.15	3.11	3.02	3.32	-	3.29
Long-Term Debt to NOPAT	2.38	2.59	2.59	3.21	3.11	2.95	2.89	2.80	2.83	-	2.84
Altman Z-Score	6.10	6.60	6.31	5.42	5.70	5.88	5.51	5.72	5.40	-	5.01
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.30	1.35	1.34	1.15	1.13	1.11	1.09	1.15	1.05	-	1.04
Quick Ratio	0.25	0.32	0.34	0.25	0.25	0.23	0.23	0.28	0.25	-	0.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4,645	3,752	4,899	-12,985	-13,434	-13,503	-14,585	3,332	-3,561	-5,831	-3,187
Operating Cash Flow to CapEx	631.00%	551.63%	649.00%	752.29%	517.48%	424.25%	536.60%	506.33%	446.55%	-	714.69%
Free Cash Flow to Firm to Interest Expense	9.54	7.31	10.10	-22.66	-21.49	-21.16	-23.72	5.79	-5.67	-	-5.22
Operating Cash Flow to Interest Expense	8.69	9.23	11.33	9.44	6.77	7.32	7.03	8.07	6.39	-	9.87
Operating Cash Flow Less CapEx to Interest Expense	7.32	7.55	9.59	8.19	5.46	5.60	5.72	6.48	4.96	-	8.49
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.02	2.00	1.95	1.76	1.79	1.85	1.83	1.68	1.63	-	1.61
Accounts Receivable Turnover	40.11	45.95	36.51	32.57	31.83	38.76	32.62	29.01	26.49	-	26.63
Inventory Turnover	4.22	4.44	4.23	4.36	4.40	4.78	4.51	4.59	4.42	-	4.20
Fixed Asset Turnover	6.03	5.90	5.88	5.79	5.91	6.04	6.18	6.17	6.13	-	6.09
Accounts Payable Turnover	8.57	9.47	8.02	7.98	8.23	9.67	7.97	8.37	8.28	-	7.66
Days Sales Outstanding (DSO)	9.10	7.94	10.00	11.21	11.47	9.42	11.19	12.58	13.78	-	13.70
Days Inventory Outstanding (DIO)	86.53	82.29	86.35	83.71	82.90	76.34	80.95	79.47	82.55	-	86.89
Days Payable Outstanding (DPO)	42.59	38.54	45.52	45.74	44.35	37.76	45.80	43.62	44.07	-	47.62
Cash Conversion Cycle (CCC)	53.05	51.69	50.83	49.18	50.02	48.00	46.34	48.44	52.27	-	52.98
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	41,301	41,395	40,387	58,542	58,833	58,364	58,852	60,178	66,446	67,196	65,782
Invested Capital Turnover	3.70	3.66	3.71	3.07	3.09	3.20	3.28	2.78	2.65	-	2.67
Increase / (Decrease) in Invested Capital	-499	-603	-968	17,915	17,532	16,969	18,465	1,636	7,613	8,832	6,930
Enterprise Value (EV)	309,351	389,438	368,354	410,617	449,282	458,389	413,242	421,278	432,169	-	374,496
Market Capitalization	269,480	349,087	329,787	356,495	396,235	406,665	362,345	371,765	377,839	-	322,588
Book Value per Share	$1.43	$1.05	$1.84	$4.46	$5.83	$6.68	$8.00	$10.72	$12.17	$12.87	$13.93
Tangible Book Value per Share	($6.51)	($11.07)	($6.70)	($24.41)	($22.91)	($21.96)	($20.62)	($17.81)	($20.66)	($19.95)	($18.92)
Total Capital	43,359	45,155	44,651	60,155	60,364	60,023	60,221	62,982	68,130	68,585	67,383
Total Debt	41,929	44,111	42,831	55,735	54,578	53,383	52,266	52,317	56,014	55,772	53,509
Total Long-Term Debt	40,567	42,743	42,060	51,869	50,058	48,485	47,343	45,917	46,343	46,341	44,828
Net Debt	39,871	40,351	38,567	54,122	53,047	51,724	50,897	49,513	54,330	54,383	51,908
Capital Expenditures (CapEx)	671	858	847	719	818	1,101	806	917	898	1,058	844
Debt-free, Cash-free Net Working Capital (DFCFNWC)	6,414	5,368	4,770	6,403	6,846	6,261	6,494	8,141	9,735	10,009	8,672
Debt-free Net Working Capital (DFNWC)	8,472	9,128	9,034	8,016	8,377	7,920	7,863	10,945	11,419	11,398	10,273
Net Working Capital (NWC)	7,110	7,760	8,263	4,150	3,857	3,022	2,940	4,545	1,748	1,967	1,592
Net Nonoperating Expense (NNE)	336	348	331	369	450	469	447	417	451	430	454
Net Nonoperating Obligations (NNO)	39,871	40,351	38,567	54,122	53,047	51,724	50,897	49,513	54,330	54,383	51,908
Total Depreciation and Amortization (D&A)	827	832	837	778	995	1,009	994	1,004	1,044	1,079	1,081
Debt-free, Cash-free Net Working Capital to Revenue	4.17%	3.52%	3.14%	4.21%	4.43%	3.93%	3.99%	4.93%	5.86%	-	5.21%
Debt-free Net Working Capital to Revenue	5.51%	5.98%	5.95%	5.27%	5.42%	4.97%	4.83%	6.63%	6.87%	-	6.17%
Net Working Capital to Revenue	4.63%	5.08%	5.44%	2.73%	2.49%	1.89%	1.80%	2.75%	1.05%	-	0.96%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.83	$2.84	$3.64	$4.61	$3.68	$3.03	$3.46	$4.59	$3.63	$2.58	$3.31
Adjusted Weighted Average Basic Shares Outstanding	996M	999M	989M	990M	991M	990M	992M	992M	993M	993M	994M
Adjusted Diluted Earnings per Share	$3.81	$2.83	$3.63	$4.60	$3.67	$3.01	$3.45	$4.58	$3.62	$2.58	$3.30
Adjusted Weighted Average Diluted Shares Outstanding	999M	1.00B	992M	992M	993M	993M	994M	994M	995M	995M	996M
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	995.26M	991.02M	991.61M	993.29M	993.36M	994.03M	994.93M	995.39M	995.51M	996.01M	997.12M
Normalized Net Operating Profit after Tax (NOPAT)	4,146	3,149	3,931	4,930	4,098	3,466	3,880	4,968	4,052	3,001	3,743
Normalized NOPAT Margin	10.99%	9.05%	10.79%	11.42%	10.19%	8.73%	9.73%	10.97%	9.80%	-	8.96%
Pre Tax Income Margin	13.17%	10.59%	12.77%	14.00%	11.99%	9.79%	11.40%	13.26%	11.50%	-	10.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	11.10	8.08	10.47	11.40	8.67	7.05	8.35	11.40	8.52	-	8.15
NOPAT to Interest Expense	8.51	6.14	8.11	8.60	6.56	5.43	6.31	8.64	6.45	-	6.13
EBIT Less CapEx to Interest Expense	9.72	6.40	8.73	10.15	7.36	5.32	7.04	9.81	7.09	-	6.77
NOPAT Less CapEx to Interest Expense	7.14	4.47	6.36	7.35	5.25	3.71	5.00	7.04	5.02	-	4.74
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	52.45%	55.36%	57.12%	58.41%	60.05%	60.31%	61.38%	61.82%	62.39%	-	65.56%
Augmented Payout Ratio	103.55%	107.87%	95.54%	83.09%	74.66%	64.69%	61.38%	61.82%	62.39%	-	65.56%

Financials Breakdown Chart

Key Financial Trends

Here are 10 key takeaways from Home Depot’s latest four-year view into the company’s quarterly statements, focusing on trends that may impact investors. Items are ordered with positives first, then neutral, then negatives.

Strong operating cash flow: 2025 quarters show roughly $4B of net cash from continuing operating activities per quarter, indicating solid liquidity to fund capex and dividends.
Consistent gross margins: Gross margins remained in the low 30s% range across 2025 (about 32–33%), signaling ongoing pricing power and cost management (example Q4 2025 gross profit of $12.47B on $38.20B revenue).
Healthy quarterly earnings and dividends: 2025 earnings remained positive across quarters, with meaningful per-share dividends (~$2.30 per share per quarter) reflecting ongoing shareholder returns.
Decline in interest expense: Q4 2025 interest expense declined versus Q4 2024 (0.594B vs 0.638B), aiding net margins.
Positive free cash flow in late 2025: In Q4 2025, after capex of about $1.06B, free cash flow was roughly $2.1B, indicating available cash for debt management or buybacks.
Revenue volatility: 2025 revenue fluctuated quarter to quarter (Q2 around $45.3B, Q3 around $41.35B, Q4 around $38.20B), suggesting demand/mix shifts rather than a steady trend.
Modest cash balance fluctuations: Cash and equivalents ranged from about $1.4B to $2.8B across 2025, providing a modest liquidity buffer without an outsized cash pile.
2025 topline decline vs prior year: Q4 2025 revenue ($38.20B) was lower than Q4 2024 ($39.70B), signaling some topline pressure year over year.
Gross profit compression: Q4 2025 gross profit ($12.47B) declined versus Q4 2024 ($13.03B), indicating margins pressures despite a stable margin range.
Significant investing outflows: Notable investing cash outflows in mid-2025 (e.g., Q3 2025 net investing cash flow around -$5.87B) weighed on free cash flow in those periods.

06/04/26 05:19 AM ETAI Generated. May Contain Errors.

Home Depot Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Home Depot's fiscal year ends in February. Their fiscal year 2026 ended on February 1, 2026.

Home Depot's net income appears to be on an upward trend, with a most recent value of $14.16 billion in 2025, rising from $7.01 billion in 2015. The previous period was $14.81 billion in 2024. See where experts think Home Depot is headed by visiting Home Depot's forecast page.

Home Depot's total operating income in 2025 was $20.89 billion, based on the following breakdown:

Total Gross Profit: $54.87 billion
Total Operating Expenses: $33.98 billion

Over the last 10 years, Home Depot's total revenue changed from $88.52 billion in 2015 to $164.68 billion in 2025, a change of 86.0%.

Home Depot's total liabilities were at $92.28 billion at the end of 2025, a 3.1% increase from 2024, and a 158.8% increase since 2015.

In the past 10 years, Home Depot's cash and equivalents has ranged from $1.39 billion in 2025 to $7.90 billion in 2020, and is currently $1.39 billion as of their latest financial filing in 2025.

Over the last 10 years, Home Depot's book value per share changed from 4.98 in 2015 to 12.87 in 2025, a change of 158.4%.

Related Companies

Financial statements for NYSE:HD last updated on 5/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Home Depot (HD) Financials

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Home Depot (HD) Financials

Annual Income Statements for Home Depot

Quarterly Income Statements for Home Depot

Annual Cash Flow Statements for Home Depot

Quarterly Cash Flow Statements for Home Depot

Annual Balance Sheets for Home Depot

Quarterly Balance Sheets for Home Depot

Annual Metrics And Ratios for Home Depot

Quarterly Metrics And Ratios for Home Depot

Financials Breakdown Chart

Key Financial Trends

Home Depot Financials - Frequently Asked Questions

When does Home Depot's financial year end?

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

What is Home Depot's operating income?

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

How much debt does Home Depot have?

How much cash does Home Depot have?

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

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