HD

MKT CAP:$335B

The Home Depot, Inc.

Market Cap

$335B

Consumer Cyclical·Home Improvement·🇺🇸 United States·NYSE

Consumer Cyc.·Home Improvement·🇺🇸·NYSE

Stock Price

$336.48-$9.34 (-2.70%)

Apr 24, 2026

Company Details

The Home Depot, Inc. operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance...

CEO

Edward Decker

IPO Date

Sep 22, 1981

Website

www.homedepot.com

Key Metrics TTM

Revenue

$164.7B

+3.2% YoY

Net Income

$14.2B

EPS (Diluted)

$14.23

Free Cash Flow

$12.6B

Revenue / Share

$165.18

Gross Margin

33.3%

Operating Margin

12.7%

Net Margin

8.6%

FCF Margin

7.7%

P/S

2.0x

P/E

23.7x

Earnings Reports

FY 2025

Mar 18, 2026

$164.7B+3.2%EPS $14.23

Q4 2025

Mar 18, 2026

$38.2B-3.8%EPS $2.58

Q3 2025

Nov 24, 2025

$41.4B+2.8%EPS $3.62

Q2 2025

Aug 25, 2025

$45.3B+4.9%EPS $4.58

Q1 2025

May 27, 2025

$39.9B+9.4%EPS $3.45

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$38.9B	$13.1B	$5.9B
Q2 22	$43.8B	$14.5B	$7.2B
Q3 22	$38.9B	$13.2B	$6.1B
Q4 22	$35.8B	$11.9B	$4.8B
Q1 23	$37.3B	$12.6B	$5.6B
Q2 23	$42.9B	$14.2B	$6.6B
Q3 23	$37.7B	$12.7B	$5.4B
Q4 23	$34.8B	$11.5B	$4.1B
Q1 24	$36.4B	$12.4B	$5.1B
Q2 24	$43.2B	$14.4B	$6.5B
Q3 24	$40.2B	$13.4B	$5.4B
Q4 24	$39.7B	$13.0B	$4.5B
Q1 25	$39.9B	$13.5B	$5.1B
Q2 25	$45.3B	$15.1B	$6.6B
Q3 25	$41.4B	$13.8B	$5.4B
Q4 25	$38.2B	$12.5B	$3.8B

Valuation

Quarter	P/S	P/E
Q1 22	2.1x	19.0x
Q2 22	2.0x	18.5x
Q3 22	1.9x	17.6x
Q4 22	2.0x	18.6x
Q1 23	1.9x	17.8x
Q2 23	2.1x	20.5x
Q3 23	1.8x	17.8x
Q4 23	2.3x	23.3x
Q1 24	2.2x	22.4x
Q2 24	2.4x	24.3x
Q3 24	2.6x	27.3x
Q4 24	2.5x	27.4x
Q1 25	2.2x	24.5x
Q2 25	2.3x	25.8x
Q3 25	2.3x	25.8x
Q4 25	2.3x	26.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$3.8B	$3.1B
Q2 22	$3.4B	$2.6B
Q3 22	$2.8B	$2.1B
Q4 22	$4.6B	$3.7B
Q1 23	$5.6B	$4.7B
Q2 23	$6.6B	$5.8B
Q3 23	$4.2B	$3.6B
Q4 23	$4.7B	$3.9B
Q1 24	$5.5B	$4.7B
Q2 24	$5.4B	$4.7B
Q3 24	$4.2B	$3.4B
Q4 24	$4.7B	$3.6B
Q1 25	$4.3B	$3.5B
Q2 25	$4.6B	$3.7B
Q3 25	$4.0B	$3.1B
Q4 25	$3.3B	$2.3B

Capital Expenditures

Quarter	CapEx
Q1 22	$704M
Q2 22	$743M
Q3 22	$769M
Q4 22	$903M
Q1 23	$905M
Q2 23	$792M
Q3 23	$671M
Q4 23	$858M
Q1 24	$847M
Q2 24	$719M
Q3 24	$818M
Q4 24	$1.1B
Q1 25	$806M
Q2 25	$917M
Q3 25	$898M
Q4 25	$1.1B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+3.8%	+4.0%
Q2 22	+6.5%	+6.1%
Q3 22	+5.6%	+5.5%
Q4 22	+0.3%	+0.6%
Q1 23	-4.2%	-3.9%
Q2 23	-2.0%	-0.7%
Q3 23	-3.0%	-1.3%
Q4 23	-2.9%	-1.4%
Q1 24	-2.3%	-1.2%
Q2 24	+0.6%	+0.9%
Q3 24	+6.6%	+7.7%
Q4 24	+14.1%	+14.9%
Q1 25	+9.4%	+10.8%
Q2 25	+4.9%	+5.7%
Q3 25	+2.8%	+3.4%
Q4 25	-3.8%	-2.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$115M	0.3%
Q2 22	$81M	0.2%
Q3 22	$90M	0.2%
Q4 22	$80M	0.2%
Q1 23	$124M	0.3%
Q2 23	$91M	0.2%
Q3 23	$85M	0.2%
Q4 23	$80M	0.2%
Q1 24	$124M	0.3%
Q2 24	$98M	0.2%
Q3 24	$106M	0.3%
Q4 24	$114M	0.3%
Q1 25	$170M	0.4%
Q2 25	$118M	0.3%
Q3 25	$120M	0.3%
Q4 25	$114M	0.3%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 22	—	—	$6.6B
Q2 22	—	—	$6.7B
Q3 22	—	—	$6.5B
Q4 22	$6.5B	—	—
Q1 23	—	—	$6.4B
Q2 23	—	—	$6.9B
Q3 23	—	—	$6.6B
Q4 23	$5.6B	$1.1B	—
Q1 24	—	—	$6.7B
Q2 24	—	—	$7.1B
Q3 24	—	—	$7.2B
Q4 24	$7.7B	—	—
Q1 25	—	—	$7.5B
Q2 25	—	—	$7.8B
Q3 25	—	—	$7.6B
Q4 25	$7.8B	—	—

Revenue Segments

Quarter	Major Product Line - Building Materials	Major Product Line - Hardlines	Major Product Line, Décor	Other Segment
Q1 22	$14.9B	$11.2B	$12.9B	—
Q2 22	$15.9B	$13.8B	$14.1B	—
Q3 22	$15.3B	$10.5B	$13.1B	—
Q1 23	$13.0B	$11.6B	$12.7B	—
Q2 23	$14.3B	$14.8B	$13.9B	—
Q3 23	$13.6B	$11.0B	$13.1B	—
Q1 24	$12.6B	$11.5B	$12.3B	—
Q2 24	$13.9B	$14.4B	$13.6B	$1.3B
Q3 24	$13.5B	$11.1B	$12.7B	$2.9B
Q1 25	$12.9B	$11.9B	$12.5B	$2.6B
Q2 25	$14.2B	$14.1B	$13.9B	$3.1B

Revenue by Geography

Quarter	Non-US	United States
Q1 22	$2.9B	$36.0B
Q2 22	$3.7B	$40.0B
Q3 22	$3.1B	$35.8B
Q1 23	$2.8B	$34.5B
Q2 23	$3.7B	$39.2B
Q3 23	$3.2B	$34.5B
Q1 24	$2.8B	$33.6B
Q2 24	$3.7B	$39.5B
Q3 24	$3.1B	$37.1B
Q1 25	$2.6B	$37.2B
Q2 25	$3.5B	$41.7B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2.8B	$0	$2.8B
Q2 22	$1.3B	$0	$1.3B
Q3 22	$2.5B	$0	$2.5B
Q4 22	$2.8B	$0	$2.8B
Q1 23	$1.3B	$0	$1.3B
Q2 23	$2.8B	$0	$2.8B
Q3 23	$2.1B	$0	$2.1B
Q4 23	$3.8B	$0	$3.8B
Q1 24	$4.3B	$0	$4.3B
Q2 24	$1.6B	$0	$1.6B
Q3 24	$1.5B	$0	$1.5B
Q4 24	$1.7B	$0	$1.7B
Q1 25	$1.4B	$0	$1.4B
Q2 25	$2.8B	$0	$2.8B
Q3 25	$1.7B	$0	$1.7B
Q4 25	$1.4B	$0	$1.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	1.03B	-0.9%	-3.8%
Q2 22	1.02B	-0.9%	-3.5%
Q3 22	1.02B	-0.2%	-2.8%
Q4 22	1.02B	-0.5%	-2.4%
Q1 23	1.01B	-0.5%	-2.0%
Q2 23	1.00B	-1.0%	-2.1%
Q3 23	999M	-0.4%	-2.3%
Q4 23	994M	-0.5%	-2.4%
Q1 24	992M	-0.2%	-2.1%
Q2 24	992M	0.0%	-1.1%
Q3 24	993M	+0.1%	-0.6%
Q4 24	994M	+0.1%	0.0%
Q1 25	994M	0.0%	+0.2%
Q2 25	994M	0.0%	+0.2%
Q3 25	994M	0.0%	+0.1%
Q4 25	997M	+0.3%	+0.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$79.3K	491K
Q2 22	$89.3K	491K
Q3 22	$79.2K	491K
Q4 22	$76.0K	472K
Q1 23	$79.0K	472K
Q2 23	$91.0K	472K
Q3 23	$80.0K	472K
Q4 23	$75.1K	463K
Q1 24	$78.6K	463K
Q2 24	$93.2K	463K
Q3 24	$86.8K	463K
Q4 24	$85.7K	463K
Q1 25	$84.8K	470K
Q2 25	$96.3K	470K
Q3 25	$88.0K	470K
Q4 25	$80.9K	472K

Revenue / Employee