HOME DEPOT, INC.HD
HOME DEPOT, INC. Financial Overview 2022–2026
Updated Jul 10, 2026Home Depot committed a staggering $17.7 billion to acquire specialty distributor SRS in fiscal 2024, signaling a structural pivot toward professional contractors as retail traffic slows. With consumer demand hampered by high interest rates, the retailer is sacrificing its historically elite capital efficiency to buy top-line growth through acquisitions. This consolidation strategy successfully kept the engine running, as total revenue grew from $151.2 billion in fiscal 2021 to $164.7 billion in fiscal 2025.
Beneath that top-line expansion, the core retail business is absorbing macroeconomic hits. Comparable sales struggled with consecutive annual declines before scraping out a 0.3% gain in fiscal 2025, constrained by a 1.0% drop in customer transactions. Profitability also compressed, with diluted earnings per share falling from a peak of $16.69 in fiscal 2022 to $14.23 in fiscal 2025. The heavy debt required to fund the SRS deal and the subsequent $5.5 billion GMS acquisition dragged return on invested capital down from 44.7% in fiscal 2021 to 26.3% by Q3 2025, forcing management to pause share repurchases in March 2024. Despite these fundamental headwinds, the market continues to price in a successful turnaround for the professional segment. At the close of FY2026, the stock traded at $374.59 with a 26.3x earnings multiple and a $373.1 billion market cap, reflecting slight multiple compression from the 27.6x price-to-earnings ratio it held at the end of FY2025.
Recent Developments (Q4 2026 and Q1 2027)
In Q1 2026, net sales climbed 4.8% year-over-year to $41.8 billion, propelled by ongoing GMS integration and positive comparable sales. However, this acquisition mix dragged gross profit margins down to 33.0% from 33.8%, causing operating income to slip to $4.98 billion. Diluted earnings per share fell 4.3% to $3.30.
Operating cash flow reached $6.0 billion, up from $4.3 billion, funding $2.3 billion in dividends and supporting $4 billion in planned annual capital expenditures. In May 2026, shareholders approved charter amendments for officer exculpation and rejected all ESG proposals. Bulls highlight the massive cash generation defending the dividend payout. Bears emphasize the continuing gross margin contraction and lower earnings. At $317.85, the stock traded at a 22.3x earnings multiple as of May 27, 2026, reflecting a cheaper valuation compared to previous periods.
What to watch: gross margin stabilization following recent acquisitions; progress on debt reduction to unlock the remaining $11.7 billion share repurchase authorization.
Rev
$164.68B
FY2026
NI
$14.16B
FY2026
EPS
$14.26
FY2026
OCF
$16.32B
FY2026
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
HOME DEPOT, INC. 8-K Report, Bylaw Amendment (May 26, 2026)
Home Depot, Inc. (HD) filed an 8-K on May 26, 2026, detailing the outcomes of its 2026 Annual Meeting of Shareholders held on May 21, 2026. The primary focus of this filing is the approval of amendments to the company's Amended and Restated Certificate of Incorporation. These amendments include the implementation of officer exculpation provisions, which offer certain officers protections from monetary liability, similar to those already afforded to the Board of Directors. Additionally, miscellaneous amendments to the charter were approved, all of which became effective upon filing with the Delaware Secretary of State on May 21, 2026. Shareholder voting results indicate broad support for the company's proposed charter changes, as well as the ratification of KPMG LLP as the independent registered public accounting firm and the advisory vote on executive compensation. Notably, several shareholder proposals related to environmental, social, and governance (ESG) matters, including those concerning plastic targets, packaging policies, data privacy, board independence, biodiversity, healthcare access, and charitable support, did not receive majority shareholder approval.
HOME DEPOT, INC. 8-K Report, Financial Results (May 19, 2026)
The Home Depot, Inc. (HD) filed an 8-K on May 19, 2026, to announce its financial results for the fiscal quarter ended May 3, 2026. While the 8-K itself does not contain the specific financial details, it incorporates by reference the press release (Exhibit 99.1) where these results are disclosed. Investors should refer to the attached press release for comprehensive information on the company's performance during the most recent quarter, including key metrics such as revenue, earnings per share, and any forward-looking guidance provided. This filing serves as the official notification of the company's quarterly performance update. The information provided is furnished and not deemed filed for purposes of Section 18 of the Securities Exchange Act, meaning it does not carry the same legal liabilities as formally filed information. Investors are encouraged to review the linked press release for a thorough understanding of Home Depot's operational and financial condition as presented for the period ending May 3, 2026.
HOME DEPOT, INC. 8-K Report, Financial Results (Feb 24, 2026)
The Home Depot, Inc. (HD) has filed an 8-K report on February 24, 2026, to announce its financial results for the fiscal quarter and full fiscal year ended February 1, 2026. While the full details of the financial performance are available in the attached press release (Exhibit 99.1), this filing serves as the official notification of the results' release. Investors should refer to the press release for specific metrics such as revenue, earnings per share, comparable sales, and any forward-looking guidance provided by the company.
HOME DEPOT, INC. 8-K Report, Bylaw Amendment (Nov 24, 2025)
Home Depot, Inc. (HD) has filed an 8-K report detailing amendments to its By-Laws, effective November 20, 2025. These changes are primarily administrative and aimed at clarifying corporate governance procedures, including the timeline for shareholder nominations and proposals, requirements for director nominations, and processes for shareholder meetings and written consents. A key update for investors is the revised advance notice window for shareholder proposals and director nominations for the upcoming annual meeting. Shareholders must now submit proposals and nominations between 120 and 90 days prior to the anniversary of the 2025 annual meeting, which translates to a window between January 22, 2026, and February 21, 2026, for consideration at the next annual meeting, unless the meeting date shifts significantly. These amendments generally streamline the process and align with current legal requirements, particularly those in Delaware. While no significant strategic or financial shifts are indicated, these By-Law changes are important for shareholders looking to engage with the company through nominations or proposals. Investors should note the specific dates and requirements for submitting such items to ensure their proposals are considered for the next annual shareholders' meeting. The company also clarified provisions related to the election of meeting chairs and the sufficiency of special meeting requests.
HOME DEPOT, INC. 8-K Report, Regulation FD Disclosure (Nov 18, 2025)
The Home Depot, Inc. (HD) filed an 8-K report on November 17, 2025, to address an issue encountered during their earnings conference call for the fiscal quarter ended November 2, 2025. The call, held on November 18, 2025, experienced a temporary outage due to a third-party service provider, which impacted some listeners' ability to access the webcast via the company's investor relations website. The company is providing a replay of the webcast and will make a transcript available promptly on their investor relations website. While this filing does not contain detailed financial results, it is important for investors to note the communication issue. The company has taken steps to ensure access to the call's content through a replay and transcript. Investors should refer to the company's investor relations website for these materials, as they are crucial for understanding the financial performance and management's commentary for the reported quarter.
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