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The Home Depot, Inc.

HD

The Home Depot, Inc. • NYSE
$356.82 ▲ 0.38% (+1.35)
Market Cap $355.14 B
52w High $436.36
52w Low $326.31
Dividend Yield 6.90%
P/E 24.32
Volume 2.06M
Outstanding Shares 995.39M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $41.352B ▼ $8.462B ▼ $3.601B ▼ 8.708% ▼ $3.63 ▼ $6.211B ▼
Q2-2025 $45.277B ▲ $8.57B ▲ $4.551B ▲ 10.051% ▲ $4.59 ▲ $7.188B ▲
Q1-2025 $39.856B ▲ $8.326B ▼ $3.433B ▲ 8.614% ▲ $3.46 ▲ $6.151B ▲
Q4-2024 $39.704B ▼ $8.539B ▲ $2.997B ▼ 7.548% ▼ $3.02 ▼ $5.534B ▼
Q3-2024 $40.217B $8.007B $3.648B 9.071% $3.68 $6.413B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.684B ▼ $106.274B ▲ $94.158B ▲ $12.116B ▲
Q2-2025 $2.804B ▲ $100.049B ▲ $89.384B ▼ $10.665B ▲
Q1-2025 $1.369B ▼ $99.157B ▲ $91.202B ▲ $7.955B ▲
Q4-2024 $1.659B ▲ $96.119B ▼ $89.479B ▼ $6.64B ▲
Q3-2024 $1.531B $97.264B $91.478B $5.786B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $3.601B ▼ $4.01B ▼ $-5.873B ▼ $746M ▲ $-1.12B ▼ $3.112B ▼
Q2-2025 $4.551B ▲ $4.643B ▲ $-961M ▼ $-2.224B ▲ $1.435B ▲ $3.726B ▲
Q1-2025 $3.433B ▲ $4.325B ▼ $-931M ▲ $-3.756B ▼ $-290M ▼ $3.519B ▼
Q4-2024 $2.997B ▼ $4.671B ▲ $-1.119B ▼ $-3.331B ▲ $128M ▲ $3.57B ▲
Q3-2024 $3.648B $4.233B $-814M $-3.476B $-82M $3.415B

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Major Product Line Building Materials
Major Product Line Building Materials
 $13.48Bn ▲$12.73Bn ▼$12.93Bn ▲$14.17Bn ▲
Major Product Line Hardlines
Major Product Line Hardlines
 $11.13Bn ▲$11.60Bn ▲$11.88Bn ▲$14.13Bn ▲
Major Product Line Dcor
Major Product Line Dcor
 $12.68Bn ▲$13.17Bn ▲$12.48Bn ▼$13.86Bn ▲
Other Segment
Other Segment
 $2.93Bn ▲$2.20Bn ▼$2.57Bn ▲$3.12Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Home Depot’s sales have grown over the last five years, with only a modest dip after the peak of the home‑improvement boom. Revenue has proven resilient even as demand normalized post‑pandemic. Profitability is still strong, but operating profit and net income have edged down from their earlier highs as costs, wages, and a less heated housing market put some pressure on margins. Earnings per share show the same pattern: very strong in absolute terms, but off their peak levels. Overall, the income statement reflects a mature, highly profitable retailer navigating a transition from “surge” conditions back to more normal growth.

Balance Sheet

Balance Sheet The balance sheet shows a business that relies heavily on debt and share repurchases rather than building up large equity. Total assets have grown, but debt has also climbed steadily, while reported shareholder equity is very thin and has even dipped negative in the recent past. Cash on hand moves around from year to year and is relatively modest compared with the scale of the business, suggesting management prefers to return excess funds rather than hold large cash buffers. This structure is common for stable, cash‑rich retailers but does mean the company leans on its consistent cash generation and access to credit markets for financial flexibility.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been solid and generally rising over the five‑year period, even as profits eased slightly from peak levels. Free cash flow remains strong after funding store investments and technology upgrades, with capital spending steady and manageable relative to the company’s size. This pattern indicates that Home Depot can fund its growth initiatives internally while still having room for debt service, dividends, and buybacks. The quality of earnings looks high, with cash flow broadly tracking reported profits rather than relying on aggressive accounting.

Competitive Edge

Competitive Edge Home Depot sits in a dominant position in home improvement, supported by its massive scale, strong brand, and deep relationships with both do‑it‑yourself customers and professional contractors. Its emphasis on the professional segment, with dedicated services, loyalty programs, and job‑site delivery, helps anchor a more recurring and less discretionary revenue base. The company’s integrated online and in‑store model, extensive distribution network, and exclusive product brands add to its moat. Risks mainly stem from housing and renovation cycles, competition from Lowe’s and online players, and potential shifts in consumer spending, but its entrenched position gives it meaningful resilience.

Innovation and R&D

Innovation and R&D While not a classic research‑heavy company, Home Depot invests aggressively in technology, data, and new services. Its “One Home Depot” strategy blends mobile, web, and stores into a single experience, using tools like in‑store navigation, image search, and augmented reality to simplify shopping. The company is rolling out AI‑driven tools to support both associates and customers, supported by partnerships with major cloud providers. It is expanding its professional ecosystem through digital tools, specialized distribution centers, and loyalty programs, and it backs external innovation via a dedicated venture fund. Sustainability efforts and a focus on smart‑home products suggest management is thinking ahead about long‑term trends rather than just near‑term sales.

Summary

Taken together, Home Depot shows the profile of a mature market leader: strong and durable sales, very healthy profitability, and robust cash generation, paired with a balance sheet that is intentionally lean on equity and more reliant on debt. The business benefited from an extraordinary period of demand and is now settling into more normalized growth with slightly tighter margins. Its competitive strengths—scale, brand, supply chain, exclusive products, and professional focus—are being reinforced by ongoing investments in technology, logistics, and smart‑home capabilities. The main things to watch are housing and renovation cycles, cost inflation, and how effectively the company continues to execute its omnichannel and Pro‑customer strategies while managing its leveraged capital structure.

NEWS

November 25, 2025 · 8:00 AM UTC

The Home Depot to Host 2025 Investor and Analyst Conference on December 9

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November 21, 2025 · 3:36 PM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of The Home Depot, Inc. - HD

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November 20, 2025 · 6:36 PM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of The Home Depot, Inc. - HD

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November 20, 2025 · 4:10 PM UTC

The Home Depot Declares Quarterly Dividend of $2.30

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November 19, 2025 · 7:00 AM UTC

The Home Depot Launches AI-Powered Blueprint Takeoffs Tool to Help Pros Stay on Time and on Budget

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