HD (The Home Depot, Inc.) Stock Financials & Earnings

Company Info & Key Metrics

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 pro...

CEOEdward Decker

Country🇺🇸 United States

ExchangeNYSE

IPOSep 22, 1981

www.homedepot.com

Revenue$38.2B

YoY Growth-3.8%

QoQ Growth-7.6%

Net Income$2.6B

EPS$2.58

Free Cash Flow$2.3B

Gross Margin32.6%

Op. Margin10.1%

Net Margin6.7%

FCF Margin6.0%

Rev Multiple (TTM)2.1x

P/E Ratio (TTM)24.9x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
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

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	2.3x	21.0x
Q2 23	2.3x	21.7x
Q3 23	2.3x	22.4x
Q4 23	2.3x	23.2x
Q1 24	2.3x	23.7x
Q2 24	2.3x	23.8x
Q3 24	2.3x	24.1x
Q4 24	2.2x	23.8x
Q1 25	2.2x	24.0x
Q2 25	2.1x	24.1x
Q3 25	2.1x	24.1x
Q4 25	2.1x	24.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
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

CapEx

Quarter	CapEx
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

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
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 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 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 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 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 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
Q1 23	1.01B	-0.5%
Q2 23	1.00B	-1.0%
Q3 23	999M	-0.4%
Q4 23	994M	-0.5%
Q1 24	992M	-0.2%
Q2 24	992M	+0.0%
Q3 24	993M	+0.1%
Q4 24	994M	+0.1%
Q1 25	994M	+0.0%
Q2 25	994M	+0.0%
Q3 25	994M	+0.0%
Q4 25	997M	+0.3%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$228K	365K
FY 15	$230K	385K
FY 16	$233K	406K
FY 17	$244K	413K
FY 18	$262K	413K
FY 19	$267K	413K
FY 20	$262K	505K
FY 21	$308K	491K
FY 22	$334K	472K
FY 23	$330K	463K
FY 24	$344K	463K
FY 25	$350K	470K