At a glance
Home Depot Inc is worth $340.36B, about 24 times its fiscal 2026 earnings. Revenue grew 3.2% to $164.68B in fiscal 2026, with 8.6% kept as profit; over 5 years it has grown 4.5% a year. It pays a 2.72% dividend yield, raised every year for at least 9 years, and returned $71.34B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned −7.6% over the past year with dividends reinvested and +1.1% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 38.0% in the 2020 crash (S&P 500: 33.7%) and 34.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 18 months after the lows.
The business in plain English
Home Depot is the world's largest home improvement retailer by sales. Its stores and websites offer building materials, lumber, tools, paint, appliances, lawn and garden goods and décor. It also supplies products for keeping buildings running, known as MRO (maintenance, repair and operations). As of February 1, 2026, it ran 2,359 stores in the U.S., Canada and Mexico. Each store stocks roughly 30,000 to 40,000 items, with many more online.
It serves two main customer groups. Consumers include do-it-yourselfers and 'do-it-for-me' homeowners who pay for installation of flooring, water heaters and windows. Pros (professional customers) include contractors, remodelers, property managers and tradespeople such as roofers and plumbers. To reach more Pros, Home Depot acquired SRS, a roofing, pool and landscaping supply distributor. SRS later acquired GMS, a drywall, ceilings and steel framing distributor. SRS had over 1,250 locations as of February 1, 2026. Tool rental adds income, and Home Depot's own brands generally earn higher margins than national brands.
Home Depot profits from the gap between what it pays suppliers and what it charges. In the fiscal year ended February 1, 2026, revenue was $164.7 billion. Gross margin, the share of sales left after product costs, was 33.3%. The U.S., Canada and Mexico are combined into one reporting segment, and SRS's four lines of business aren't reported separately.
Price history
The interactive chart needs JavaScript.
HD -7.6% over the year to Nov 2, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2027 (ended Aug 2, 2026), revenue was $47.86B, up 5.7% from a year earlier, and net income was $4.77B (+4.7%).
- For fiscal 2026, revenue was $164.68B (+3.2% year over year; +4.5% a year from FY2021 to FY2026) with a 8.6% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +4.5% watch |
|---|---|
| Operating margin | 12.7% watch |
| Free cash flow margin | 7.7% watch |
| Return on equity (FY2026) | 110.5% (lifted by a small equity base, often the result of years of buybacks) good |
| Return on assets (FY2026) | 13.5% good |
| Net cash (cash minus debt) | $-50.81B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $132.11B | $12.87B | $16.38B |
| FY2022 | $151.16B | $16.43B | $14.01B |
| FY2023 | $157.40B | $17.11B | $11.50B |
| FY2024 | $152.67B | $15.14B | $17.95B |
| FY2025 | $159.51B | $14.81B | $16.32B |
| FY2026 | $164.68B | $14.16B | $12.65B |
Valuation snapshot
| Market value | $340.36B |
|---|---|
| P/E ratio | 24 |
| Dividend yield | 2.72% |
Rank among 1514 US companies
Market value at each year end
Home Depot’s market value went from $163.33B at the end of 2016 to $340.36B on Nov 2, 2026, about 2.1 times as much; since the end of 2025 it is down 1%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $340.36B | -0.6% |
| 2025 | $342.56B | -11.3% |
| 2024 | $386.41B | +12.0% |
| 2023 | $344.91B | +7.1% |
| 2022 | $321.92B | -25.7% |
| 2021 | $433.37B | +51.5% |
| 2020 | $285.97B | +20.0% |
| 2019 | $238.22B | +22.7% |
| 2018 | $194.08B | -12.3% |
| 2017 | $221.32B | +35.5% |
| 2016 | $163.33B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| HD price data to Nov 2, 2026 | +1.3% | -7.6% | +7.8% | +1.1% | +13.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +1.3% |
| 2025 | -9.3% |
| 2024 | +15.0% |
| 2023 | +12.8% |
| 2022 | -22.0% |
| 2021 | +59.5% |
| 2020 | +24.6% |
| 2019 | +30.5% |
| 2018 | -7.3% |
| 2017 | +44.6% |
| 2016 | +3.5% |
| 2015 | +28.5% |
| 2014 | +30.3% |
| 2013 | +35.9% |
| 2012 | +50.3% |
| 2011 | +23.4% |
| 2010 | +25.0% |
| 2009 | +30.5% |
| 2008 | -11.4% |
| 2007 | -31.1% |
| 2006 | +1.0% |
| 2005 | -4.3% |
| 2004 | +21.5% |
| 2003 | +49.0% |
| 2002 | -52.6% |
| 2001 | +12.1% |
| 2000 | -33.3% |
| 1999 | +68.8% |
| 1998 | +108.3% |
| 1997 | +76.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 43.6% over that stretch · deepest drop along the way 44.3%, back to its old high 11.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 32.9% over that stretch · deepest drop along the way 38%, back to its old high 1.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 30% over that stretch · deepest drop along the way 34.2%, back to its old high 17.8 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 4 sales ($3.3M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 19, 2026 | Richard V McPhail EVP & CFO | sell | $2.1M |
| Aug 28, 2026 | Teresa Wynn Roseborough EVP, Gen. Counsel & Corp. Sec. | sell | $807K |
| Aug 26, 2026 | Michael F. Rowe EVP, Pro | sell | $239K |
| Sep 10, 2026 | Kimberly R Scardino SVP-Finance, CAO & Controller | sell | $207K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.51% | Mar 31, 2026 |
ETFs with the most weight in HD
| RTH VanEck Retail ETF | 7.44% |
| XLY Consumer Discretionary Select Sector SPDR Fund | 7.21% |
| FDIS Fidelity MSCI Consumer Discretionary Index ETF | 6.62% |
| VCR Vanguard Consumer Discretionary ETF | 6.41% |
| DIA SPDR Dow Jones Industrial Average ETF Trust | 5.37% |
| OUSA ALPS O'Shares U.S. Quality Dividend ETF | 4.97% |
| ELCV Eventide High Dividend ETF | 4.9% |
| PKB Invesco Building & Construction ETF | 4.89% |
What could go wrong
- A housing slowdown would hurt demand. Home Depot's sales depend on the housing and home improvement markets. Weak housing activity, economic uncertainty or other factors beyond its control can lead homeowners and Pros to delay projects and raise its costs.
- SRS and GMS deals may disappoint. Home Depot acquired SRS, and SRS then acquired GMS, to build a large building materials distribution business. Home Depot warns that such strategic transactions carry risks and may not deliver the expected benefits.
- Installation services carry legal and licensing risks. Home Depot offers installation of flooring, water heaters, cabinets and more. If it manages this business poorly, it could lose sales and face fines, lawsuits, reputational damage or the loss of general contractor licenses.
- Commodity price swings affect sales and margins. Inflation or deflation in commodity and other prices can change what Home Depot charges, how much customers purchase and its profit margins. Falling prices can shrink sales even when customers purchase similar amounts.
- Crowded, fragmented competition, including online rivals. Rivals include other home improvement chains, hardware stores, lumber yards, supply houses, warehouse clubs and online retailers. Digital and AI tools make price comparison easier, which can pressure prices and market share.
- Supply chain problems could limit products. Home Depot sources goods worldwide, with sourcing offices in Mexico, Canada, India, Vietnam, Taiwan and China. Disruptions, or suppliers in financial trouble, could limit what it can stock and hurt results and reputation.
Recent events
- Executive or board change
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Bylaws or fiscal year changed; Shareholder vote results
- Quarterly results released
- Quarterly results released
- Bylaws or fiscal year changed; Other company announcement
- Investor presentation or announcement
- Quarterly results released
For income and retirement investors
Home Depot has raised its dividend at least nine years in a row. Over the five years to February 1, 2026, dividends per share rose from $6.00 to $9.20, about 8.9% a year. The latest $9.20 equaled 64.7% of earnings and 72.4% of free cash flow (cash left after capital spending). The yield was 2.82% as of October 30, 2026. Buybacks (share repurchases) totaled $30.1 billion over those five years. They fell from $14.8 billion in the first year to zero in the latest. Shares outstanding fell 4.5% from November 2021 to August 2026.
The stock has fallen further than the broad market in past downturns: 44.3% in the 2008 financial crisis (market: 43.6%), 38% in the 2020 COVID crash (32.9%) and 34.2% in the 2022 bear market (30%). It regained its prior peak about 12, 2 and 18 months after each low. As a single stock, Home Depot carries more risk than a diversified fund.
Questions investors ask
How does Home Depot make money?
Mainly through retail sales of home improvement products, building materials, garden goods and décor. As of February 1, 2026, it had 2,359 stores plus its websites. It serves do-it-yourself homeowners, homeowners who hire out projects, and professional contractors. It also earns money from tool and equipment rental, installation services and SRS, its specialty distributor for roofers, pool contractors and other trades. Revenue was $164.7 billion in the fiscal year ended February 1, 2026. Its operating margin (profit from operations as a share of sales) was 12.7%.
Does Home Depot raise its dividend every year?
Yes, as far as its SEC filings show. Home Depot has raised its dividend at least nine years in a row, and the true streak may be longer. Its annual report filed in March 2026 describes a 2.2% increase, from $2.25 to $2.30 per share each quarter, announced in February 2025. Dividends per share reached $9.20 in the fiscal year ended February 1, 2026. That was up from $6.00 five years earlier, about 8.9% a year.
What is Home Depot's dividend yield?
The yield was 2.82% as of October 30, 2026. Yield is the yearly dividend divided by the share price. In the fiscal year ended February 1, 2026, dividends of $9.20 per share equaled 64.7% of earnings and 72.4% of free cash flow, the cash left after capital spending. Net income fell 4.4% that year. Home Depot paid about $9.2 billion in dividends and repurchased no shares.
Why did Home Depot acquire SRS and GMS?
To win more business from professional contractors. Home Depot first acquired SRS, which distributes roofing, landscaping and pool supplies to specialty trades. In the fiscal year ended February 1, 2026, SRS acquired GMS, a distributor of drywall, ceilings and steel framing. The goal was to become a leading multi-category building materials distributor. At that year's end, SRS ran over 1,250 locations in the U.S. and Canada. Home Depot warns that such deals may not deliver the expected benefits.
How much debt does Home Depot have?
About $52.9 billion in total debt as of August 2, 2026, against roughly $2.1 billion in cash and investments. That left net debt of about $50.8 billion. Shareholders' equity was $16.6 billion. A small equity base helps explain why return on equity (profit as a share of shareholders' equity) was 110.5% in the fiscal year ended February 1, 2026. For scale, net income that year was $14.2 billion and free cash flow was $12.6 billion.