Loading…
Largest US home improvement retailer, selling building materials, tools and home products to DIY and professional customers.
Largest US home improvement retailer, selling building materials, tools and home products to DIY and professional customers.
Earns from selling products in its stores and online to two groups: do-it-yourself homeowners and professional contractors, who buy in larger amounts and on account. Buying SRS Distribution in 2024 extended it into roofing, landscaping and pool supplies delivered to contractors.
Moat: narrow (scale, distribution, brand). National store/supply-chain scale and growing pro-contractor distribution (SRS) versus smaller retailers.
Headquarters: Atlanta, Georgia, US · Founded: 1978 · Employees: 472,400
Size Home Depot (The) (HD) is a United States Consumer Discretionary company (Home Improvement Chains) with a market value of $343B, the 31st largest of 3,117 United States companies the cockpit tracks. Shares closed at $343.47 on 6 Nov 2026.
Performance Over six months the shares gained 9.0%, against +13.7% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 16 in its peer set.
Growth Revenue grew 2.5% over the last twelve months (peer median +4.7%); the operating margin is 12.4% (peer median 6.0%).
Valuation It trades at 22.4× forward earnings against a peer median of 13.7× (4th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 12.7 points above its cost of capital (8.9% WACC).
Backlog Backlog (remaining performance obligations) was $1.00B at 2 Aug 2026, flat on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Credit Home Depot (The) has 39 bonds outstanding ($44.2B), rated A by the agencies and trading like AA- at a weighted spread of 61 bp.
Short interest Short interest is 1.2% of the free float (15 Oct 2026).
Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $169B | $165B | $160B | $153B | $157B |
| Revenue growth | — | +3% | +4% | -3% | — |
| Gross profit | $52.8B | $51.6B | $50.3B | $48.3B | $50.3B |
| EBITDA | $25.3B | $25.0B | $25.2B | $24.9B | $27.0B |
| Net income | $14.2B | $14.2B | $14.8B | $15.1B | $17.1B |
| Free cash flow | $15.1B | $12.6B | $16.3B | $17.9B | $11.5B |
| Capital expenditure | $3.68B | $3.68B | $3.48B | $3.23B | $3.12B |
| Total debt | $62.6B | $65.3B | $62.3B | $52.2B | $50.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Home Depot (The) HD | $343B | +9% | +2% | 12% | 22.4× | 9.0% |
| Lowe's LOW | $126B | -2% | +8% | 11% | 18.0× | 2.7% |
| Builders FirstSource BLDR | $6.73B | -19% | -8% | 2% | 23.9× | 25.6% |
| Floor & Decor FND | $5.34B | -1% | +2% | 6% | 27.3× | 17.7% |
| Ferguson Enterprises FERG | $45.2B | -3% | +8% | 10% | 19.4× | 9.9% |
| QXO QXO | $12.0B | -38% | +408% | -1% | 29.2× | 52.0% |
| Tractor Supply TSCO | $18.9B | +20% | +4% | 9% | 18.0× | 4.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HD | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.2% | +7.0% | 4th highest of 16 |
| 6-month return | +9.0% | +13.7% | 6th lowest of 16 |
| Distance from 52-week high | -12.4% | -7.4% | 5th lowest of 16 |
| Revenue growth (TTM) | +2.5% | +4.7% | 5th lowest of 16 |
| Operating margin | 12.4% | 6.0% | 2nd highest of 16 |
| Forward P/E | 22.4× | 13.7× | 4th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 9.0% | 1.6% | 4th most demanding of 15 |
| Growth delivered (Del g) | +4.5% | +3.3% | 7th highest of 15 |
| Hurdle (Req g minus delivered) | +4.5 pp | -0.5 pp | 3rd most demanding of 15 |
| ROIC minus cost of capital | +12.7 pp | -0.1 pp | 3rd highest of 16 |
| EV / EBITDA | 15.9× | 8.3× | 2nd most expensive of 15 |
| Net debt / EBITDA | 2.4× | 1.8× | 6th most indebted of 16 |
| Bond spread | 61 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Home Depot (The) HD | United States | $343B | +9% | +2% | 12% | 22.4× | 9.0% | +4.5% |
| Lowe's LOW | United States | $126B | -2% | +8% | 11% | 18.0× | 2.7% | -0.8% |
| Wesfarmers WES.AX | Australia | $64.0B | +14% | +3% | 9% | 30.5× | 20.6% | +6.9% |
| Kingfisher KGF.L | United Kingdom | $8.17B | +34% | +1% | 5% | 13.9× | 5.7% | +1.0% |
| Floor & Decor FND | United States | $5.34B | -1% | +2% | 6% | 27.3× | 17.7% | +14.1% |
| Clas Ohlson CLAS-B.ST | Sweden | $3.49B | +33% | +10% | 13% | 23.7× | 6.8% | +8.6% |
| HORNBACH Holding AG & Co. KGaA HBH.DE | Germany | $1.66B | +18% | +5% | 4% | 10.2× | -3.6% | +3.4% |
| DCM 3050.T | Japan | $1.40B | +10% | +5% | 6% | 12.5× | -1.7% | +2.9% |
| Komeri 8218.T | Japan | $1.21B | +17% | +3% | 6% | 11.8× | -6.8% | 0.0% |
| Sangetsu 8130.T | Japan | $1.15B | +4% | +4% | 10% | 13.7× | -10.8% | +7.3% |
| Kohnan Shoji 7516.T | Japan | $925M | +15% | +6% | 5% | 10.1× | 0.4% | +3.3% |
| Joyful Honda 3191.T | Japan | $859M | +10% | +5% | 6% | n/a | 1.1% | +0.3% |
| Arclands 9842.T | Japan | $748M | +6% | +8% | 4% | 9.4× | 2.2% | +14.2% |
| Byggmax BMAX.ST | Sweden | $393M | +42% | +2% | 6% | 13.7× | -0.4% | -2.0% |
| Victorian Plumbing VIC.L | United Kingdom | $386M | +15% | +7% | 6% | 16.9× | 11.0% | +8.2% |
| NAFCO 2790.T | Japan | $346M | -12% | -3% | 1% | n/a | n/a | n/a |
Home Depot (The) has 39 bonds outstanding with $44.2B face value. The agencies rate it A; its bonds trade like AA-. Weighted yield 5.53%, a spread of 61 bp over government bonds.
Home Depot (The) reported $1.00B of remaining performance obligations at 2 Aug 2026, flat from a year earlier and down 9% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.