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The Home Depot, Inc.

HD Consumer Cyclical Home Improvement Retail

The Home Depot, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $164.7 billion, up 3.24% from fiscal 2025.

Revenue
+5.71%
EPS
+4.36%
Free cash flow
+21.0%
Total debt
+1.11%

Quarter to July 2026, against a year earlier

349.34 6.10 −1.72%
Market cap
$349.1B
P/E
24.4×
Fwd P/E
22.7×
Dividend yield
2.66%
F-score
4/9
Altman Z
5.92
Beneish M
−2.42
Dividend safety
64/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2026

  • Primary
  • Other

Every year since 2012 →

Insider Decisions last twelve months

Sold, $m 6.69
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 3 — — 2 — — — — 3 1 — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 349,130.00
Revenue ttm 169,176.00
Net income ttm 14,227.00
Free cash flow ttm 15,099.00
Net debt Q 50,811.00
Valuation
P/E 24.40
Forward P/E 22.70
Price / sales 2.05
Forward P/S Powerpack
Price / FCF 23.00
Price / book 20.90 (above 6: high)
Financial health
Current ratio Q 1.08
Debt / equity Q 3.18 (above 2: weak)
Interest coverage Q 11.73
Growth
Revenue growth Q +5.71% (above 0%: growing)
Operating income growth Q +4.33% (above 0%: growing)
EPS, this year +2.08%
EPS, next year A +6.11%
Revenue, next year A +4.16%
EPS, past 5 yrs +3.57%
EPS, next 5 yrs A +5.50%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.4×, against a ten-year median of 2.4×; over the ten years it ranged from 1.8× in 2016 to 3.2× in 2021.
P/E against its own 10 years 74.40%
10-year low 10-year high
P/S against its own 10 years 41.55%
10-year low 10-year high
P/B against its own 10 years 3.52%
10-year low 10-year high
EV/Sales against its own 10 years 46.39%
10-year low 10-year high
EV/FCF against its own 10 years 67.25%
10-year low 10-year high

Dividends raised every year since 2017

Yield
2.66%
Annual rate
9.29
Payout ratio
65.0%
Growth, 2017–25
+12.6%/yr
  1. 3.56 ’17
  2. 4.12 ’18 +16
  3. 5.44 ’19 +32
  4. 6.00 ’20 +10
  5. 6.60 ’21 +10
  6. 7.60 ’22 +15
  7. 8.36 ’23 +10
  8. 9.00 ’24 +8
  9. 9.20 ’25 +2
  10. 9.18 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 3,760 1,659 1,389 2,085
Receivables 3,328 4,903 5,597 6,963
Inventory 20,976 23,451 25,817 26,847
Other 1,711 1,670 1,588 1,825
29,775 31,683 34,391 37,720
2024 2025 2026 Q'26
Payables 10,037 11,938 11,491 13,585
ST’ Debt 1,368 4,898 9,431 8,945
Other 449 628 508 729
22,015 28,661 32,424 34,988

Compound Annual Growth %

10y 5y 3y
Sales 6.40% 4.51% 1.52%
Cash Flow 5.71% (2.82%) 3.76%
Earnings 7.28% 1.93% (6.11%)
Book Value 7.33% 31.18% 101.68%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 4.71 Actual 4.92

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 3.81 3.74 Miss by 0.07
Q4 FY25 2.52 2.72 Beat by 0.20
Q1 FY26 3.40 3.43 Beat by 0.03
Q2 FY26 4.71 4.92 Beat by 0.21
Q3 FY26 3.86 — Reports 17 November 2026

EPS $

Apr Jul Oct Jan Year
’26 3.30 4.79 — — —
’26 3.45 4.58 3.62 2.58 14.23
’25 3.63 4.60 3.67 3.02 14.91
’24 3.82 4.65 3.81 2.82 15.11
’23 4.09 5.05 4.24 3.30 16.69
’22 3.86 4.53 3.92 3.21 15.53
’21 2.08 4.02 3.18 2.65 11.94
Fiscal quarters ending in the months shown.

Revenue $m

Apr Jul Oct Jan Year
’26 41,765 47,861 — — —
’26 39,856 45,277 41,352 38,198 164,683
’25 36,418 43,175 40,217 39,704 159,514
’24 37,257 42,916 37,710 34,786 152,669
’23 38,908 43,792 38,872 35,831 157,403
’22 37,500 41,118 36,820 35,719 151,157
’21 28,260 38,053 33,536 32,261 132,110
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 6,032 5,390 — — —
’26 4,325 4,643 4,010 3,347 16,325
’25 5,497 5,409 4,233 4,671 19,810
’24 5,614 6,591 4,234 4,733 21,172
’23 3,789 3,393 2,839 4,594 14,615
’22 6,310 3,637 3,439 3,185 16,571
’21 5,737 9,092 2,586 1,424 18,839
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 5,188 4,510 — — —
’26 3,519 3,726 3,112 2,289 12,646
’25 4,650 4,690 3,415 3,570 16,325
’24 4,709 5,799 3,563 3,875 17,946
’23 3,085 2,650 2,070 3,691 11,496
’22 5,786 3,119 2,744 2,356 14,005
’21 5,151 8,646 2,115 464 16,376
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 9.8% a year for ten years. It grew 6.7% a year over the last ten.

Implied
9.8%
10 years, reported
6.7%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jul ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 94,595 100,904 108,203 110,225 132,110 151,157 157,403 152,669 159,514 164,683 169,176 +6.4% 171,534 177,248 184,592 +3.9%
Gross margin, % 34.16 34.05 34.34 34.09 33.95 33.63 33.53 33.38 33.42 33.32 33.21 (0.8) pt
EBT 12,491 13,698 14,556 14,715 16,978 21,737 22,477 19,924 19,406 18,602 18,747 +4.5%
EBT margin, % 13.20 13.58 13.45 13.35 12.85 14.38 14.28 13.05 12.17 11.30 11.08 (1.9) pt
Net income 7,957 8,630 11,121 11,242 12,866 16,433 17,105 15,143 14,806 14,156 14,227 +6.6%
Per share, $
Per share, $ Revenue 76.97 85.66 95.17 100.85 123.01 143.41 154.01 152.82 161.13 165.84 170.20 +8.9%
Earnings 6.47 7.33 9.78 10.29 11.98 15.59 16.74 15.16 14.96 14.26 14.32 +9.2%
Cash flow 7.96 10.21 11.58 12.52 17.54 15.72 14.30 21.19 20.01 16.44 18.89 +8.4%
Capex (1.29) (1.57) (2.15) (2.45) (2.29) (2.43) (3.05) (3.23) (3.52) (3.70) (3.70) +12.5%
Free cash flow 6.67 8.64 9.43 10.07 15.25 13.29 11.25 17.96 16.49 12.74 15.19 +7.4%
Book value 3.53 1.23 (1.65) (2.85) 3.07 (1.61) 1.53 1.05 6.71 12.90 16.72 +15.5%
Shares, m 1,229 1,178 1,137 1,093 1,074 1,054 1,022 999 990 993 994 (2.3%)
Valuation, ×
Valuation, × P/E 21.20 27.45 18.77 22.17 22.52 23.55 19.38 23.30 27.56 26.50 24.40 23.2
P/S 1.79 2.35 1.93 2.26 2.20 2.56 2.10 2.31 2.56 2.28 2.05 2.2
P/B 39.02 162.76 0.00 0.00 87.92 0.00 212.10 337.75 61.42 29.30 20.90 93.0
EV/Sales 2.01 2.58 2.18 2.53 2.42 2.81 2.36 2.57 2.88 2.61 2.35 2.5
EV/FCF 23.19 25.55 22.02 25.31 19.50 30.31 32.34 21.90 28.15 33.99 26.36 26.2
Cash, $m
Cash, $m Operating cash flow 9,783 12,031 13,165 13,687 18,839 16,571 14,615 21,172 19,810 16,325 18,779 +5.9%
Capex (1,583) (1,850) (2,442) (2,678) (2,463) (2,566) (3,119) (3,226) (3,485) (3,679) (3,680) +9.8%
Free cash flow 8,200 10,181 10,723 11,009 16,376 14,005 11,496 17,946 16,325 12,646 15,099 +4.9%
Balance, $m
Balance, $m Working capital 3,591 2,739 1,813 1,435 5,311 362 9,361 7,760 3,022 1,967 2,732 (6.5%)
Net debt 21,063 23,433 27,424 29,350 29,343 37,743 40,436 40,351 51,724 54,383 50,811 +11.1%
Shareholders’ equity 4,333 1,454 (1,878) (3,116) 3,299 (1,696) 1,562 1,044 6,640 12,813 16,617 +12.8%
Returns, %
Returns, % ROA 18.74 19.73 25.12 23.61 21.12 23.07 23.06 19.80 17.15 14.07 13.59 (4.7) pt
ROIC 33.04 36.87 38.00 37.74 35.00 39.95 35.77 32.75 23.05 19.43 19.49 (13.6) pt
ROE 149.44 298.25 (5,245.75) (450.22) 14,061.20 2,050.28 (25,529.85) 1,162.16 385.37 145.54 104.30 (3.9) pt
People
People Employees 406,000 413,000 413,000 415,000 504,800 490,600 471,600 463,100 470,100 472,400 — +1.7%
Revenue/emp, $m 0.23 0.24 0.26 0.27 0.26 0.31 0.33 0.33 0.34 0.35 — +4.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Business profile

Updated

The Home Depot is a home-improvement retailer founded in 1978, headquartered in Cobb County, and led by chief executive Ted Decker. It sells home-improvement products, building materials, lawn and garden goods, décor products, and facilities maintenance, repair and operations products through stores and digital channels.

It also sells installation services, including in categories such as flooring, water heaters, baths, garage doors, cabinets, countertops, sheds, heating and central-air systems, windows, and window coverings. Tool and equipment rental is available at many locations.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Primary 151,966 92.28%
Other 12,717 7.72%
Gross margin 33.32%
Operating margin 12.68%
Pre-tax margin 11.30%

Revenue by segment since 2012

The Home Depot, Inc. vs peers in Home Improvement Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
HD The Home Depot, Inc. $349.1B 24.4× 22.7× +5.71% (above 0%: growing) +4.36% (above 0%: growing) +21.04% (above 0%: growing) 33.67% 14.29%
LOW Lowe's Companies, Inc. $127.5B 19.2× 17.6× +8.34% (above 0%: growing) 0.00% −16.63% (below 0%: shrinking) 33.04% 13.67% Compare
FND Floor & Decor Holdings, Inc. $5.4B 23.2× 22.5× +2.97% (above 0%: growing) +14.92% (above 0%: growing) +535.69% (above 0%: growing) 43.75% 6.42% Compare
HVT.A Haverty Furniture Companies, Inc. $456.9M 20.6× — −19.73% (below 0%: shrinking) +94.12% (above 0%: growing) +229.94% (above 0%: growing) 60.81% 0.00% Compare
HVT Haverty Furniture Companies, Inc. $405.8M 18.9× 16.5× +4.46% (above 0%: growing) +94.12% (above 0%: growing) −25.30% (below 0%: shrinking) 62.31% 3.72% Compare
TTSH Tile Shop Hldgs, Inc. $158.7M — (loss-making) — (loss-making) −5.74% (below 0%: shrinking) n/m +243.02% (above 0%: growing) 64.01% (1.30%) Compare
LIVE Live Ventures Incorporated $23.0M — (loss-making) 2.7× −3.22% (below 0%: shrinking) n/m −50.97% (below 0%: shrinking) 34.06% 4.85% Compare
Median of peers $431.3M 19.9× 17.1× −0.12% +54.52% +106.65% 52.28% 4.29%

All 7 Home Improvement Retail stocks →

From the latest earnings call

Updated

  • Richard McPhail said consumer uncertainty and housing affordability continued to pressure demand for larger home-improvement projects, despite broad-based demand across the business.
  • McPhail said tariff refunds would be fully offset by unplanned fuel, energy and other product-input costs over the year, supporting the reaffirmed outlook.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Melius Research Oct 8, 2026 Initiated Buy 397.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 74.99%
Held by the ten largest 38.09%
Holder Shares Stake Change
Vanguard 101.60m 10.19% +1.08m
BlackRock 81.58m 8.18% +2.92m
State Street 47.18m 4.73% +499.17k
Capital Group 31.43m 3.15% −1.88m
Geode Capital Management 25.26m 2.53% +325.48k
Morgan Stanley 22.60m 2.27% +233.99k
Charles Schwab 20.27m 2.03% +3.18m
Fidelity (FMR) 18.09m 1.81% +4.36m
Bank of America 16.39m 1.64% +75.77k
UBS 15.43m 1.55% −1.26m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 7 April 2026

Ownership

Directors and executive officers, together 0.08%
The Vanguard Group, Inc.100 Vanguard BoulevardMalvern, PA 10.00%
BlackRock, Inc.50 Hudson YardsNew York, NY 7.10%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

The Home Depot, Inc. (HD) Latest News

28 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · The Motley Fool
Impact 3 · · Trefis
Impact 3 · · Barchart
Impact 3 · · Trefis

26 Oct

Impact 3 · · The Motley Fool
Impact 3 · · 24/7 Wall St.

23 Oct

Impact 4 · · TheStreet

22 Oct

Impact 4 · · Trefis
Impact 4 · · PR Newswire
Impact 3 · · Trefis
Impact 3 · · retaildive.com
Impact 3 · · Trefis

21 Oct

Impact 3 · · Schaeffer's Investment Research
Impact 3 · · Insider Monkey

20 Oct

Impact 3 · · Zacks
Impact 3 · · Trefis
Impact 3 · · Zacks
Impact 3 · · Trefis

19 Oct

Impact 4 · · Trefis
Impact 3 · · 24/7 Wall St.

16 Oct

Impact 4 · · Simply Wall St.

15 Oct

Impact 4 · · 24/7 Wall St.
Impact 3 · · Trefis
Impact 3 · · Trefis
Impact 3 · · Zacks

14 Oct

Impact 3 · · Trefis
Impact 3 · · 24/7 Wall St.

13 Oct

Impact 3 · · Zacks

12 Oct

Impact 3 · · Trefis

HD metrics, ten years each

stockrow.com/HD · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com