HOME DEPOT, INC.HD

HOME DEPOT, INC. Financial Overview 2022–2026

Updated Jul 10, 2026

Home 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

+3.2% YoY

FY2026

NI

$14.16B

-4.4% YoY

FY2026

EPS

$14.26

-4.7% YoY

FY2026

OCF

$16.32B

-17.6% YoY

FY2026

Revenue Trend
Beta

Year-over-year comparison from 10-K annual reports

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Data from SEC Company Facts

All HD Financial Metrics(57)

Recent SEC Filings

HOME DEPOT, INC. 8-K Report, Executive Changes (Aug 21, 2026)

This 8-K filing from Home Depot, Inc. (HD) details significant expansions of executive responsibilities and the corresponding compensation adjustments. Effective August 20, 2026, three key executives have had their roles broadened to include critical areas such as merchandising, product development, private brands, loyalty programs, credit services, payments, and the Office of Pro Acceleration. These expanded duties are aimed at driving growth and coordination across various strategic business units, including Home Depot Pro, HD Supply, SRS Distribution, and Construction Resources. Investors should note these changes as they indicate a strategic realignment to enhance operational efficiency and market presence.

HOME DEPOT, INC. 8-K Report, Financial Results (Aug 18, 2026)

The Home Depot, Inc. (HD) has filed an 8-K report on August 18, 2026, to disclose its financial results for the fiscal quarter ended August 2, 2026. While the 8-K itself is brief, it primarily serves as a vehicle to present the accompanying press release (Exhibit 99.1), which contains the detailed financial performance information. Investors should refer to this press release for specifics on revenue, profitability, comparable store sales, and any forward-looking guidance provided by the company. This filing indicates that the company is meeting its disclosure obligations by announcing its quarterly earnings. The inclusion of the press release as an exhibit means that the full financial narrative, including management's commentary and key performance indicators, is readily available. It is important for investors to review the attached press release for a comprehensive understanding of Home Depot's performance during the reported quarter and any implications for future business outlook.

HOME DEPOT, INC. 8-K Report, Executive Changes (Aug 12, 2026)

The Home Depot, Inc. (HD) has filed an 8-K report on August 12, 2026, announcing a significant leadership transition. Edward P. Decker, the current Chair, President, and CEO, is taking an immediate temporary medical leave. During his absence, the Board of Directors has appointed two seasoned executives to manage the company's leadership functions. Ann-Marie Campbell, Senior Executive Vice President, will oversee day-to-day operations, while Richard V. McPhail, Executive Vice President and CFO, will manage financial operations and Pro subsidiaries, also serving as interim principal executive officer. This strategic appointment aims to ensure business continuity and stability during Mr. Decker's medical leave, with no immediate changes to the appointed executives' compensation.

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.

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