HDNYSERetail-Lumber & Other Building Materials DealersFiscal year ends January 31
HOME DEPOT, INC.
Financials through Q2 FY2026, quarter ended Aug 2, 2026Last filing: 10-Q on Aug 25, 2026
$309.88+0.25 (+0.08%)
Close on Oct 19, 2026
- Market cap
- $308.64B
- P/E (TTM)
- 21.7
- Dividend yield
- 2.97%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
33.3%−0.6 pts over 5 years
Operating margin
12.7%−1.2 pts over 5 years
Net margin
8.6%−1.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.2% | +1.5% | +4.5% | +6.4% | |
| Gross profit | +2.9% | +1.3% | +4.1% | +6.1% | |
| Operating income | -3.0% | -4.6% | +2.7% | +5.9% | |
| Net income | -4.4% | -6.1% | +1.9% | +7.3% | |
| EPS, diluted | -4.6% | -5.2% | +3.6% | +10.1% | |
| Free cash flow | -22.5% | +3.2% | -5.0% | +4.9% | |
| Dividend per share | +2.2% | +6.6% | +8.9% | +14.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 149.4% | 14061.2% | 145.5% | |
| Return on assets | 18.7% | 21.1% | 14.1% | |
| Current ratio | 1.25 | 1.23 | 1.06 | |
| Debt to equity | 5.45 | 11.29 | 4.35 | |
| Net debt to EBITDA | 1.37× | 1.41× | 2.23× | |
| Interest coverage | 13.8× | 13.6× | 8.7× | |
| Inventory turnover | 5.1× | 5.6× | 4.5× | |
| Capex to revenue | 1.7% | 1.9% | 2.2% | |
| Diluted shares | 1.23B | 1.08B | 995M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Home Depot generated $88.49B from operations and spent $87.42B on capital expenditure, dividends and share buybacks. 18% of that went back into the business.
Generated
$88.49B
Used
$87.42B
Capital expenditure$16.08B18%Dividends$41.24B47%Share buybacks$30.11B34%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.6%
×Asset turnover1.64×
×Equity multiplier10.34×
=Return on equity, FY2025145.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.6% | 1.64× | 10.34× | 145.5% |
| FY2024 | 9.3% | 1.85× | 22.47× | 385.4% |
| FY2023 | 9.9% | 2.00× | 58.70× | 1162.2% |
| FY2022 | 10.9% | 2.12× | -1106.87× | -25529.9% |
| FY2021 | 10.9% | 2.12× | 88.87× | 2050.3% |
| FY2020 | 9.7% | 2.17× | 665.67× | 14061.2% |
| FY2019 | 10.2% | 2.31× | -19.07× | -450.2% |
| FY2018 | 10.3% | 2.44× | -208.80× | -5245.8% |
| FY2017 | 8.6% | 2.31× | 15.12× | 298.3% |
| FY2016 | 8.4% | 2.23× | 7.98× | 149.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$14.16B
- Cash generatingOperating cash flow above zero$16.33B
- Return on assets improvedROA up on the prior year19.3% → 14.7%
- Earnings backed by cashOperating cash flow above net income$16.33B vs $14.16B
- Less leverageLong-term debt to assets fell50.4% → 44.1%
- Better liquidityCurrent ratio rose1.11 → 1.06
- No dilutionShare count did not rise993M → 995M
- Gross margin improvedGross margin up on the prior year33.42% → 33.32%
- More efficientAsset turnover rose2.08 → 1.71