The Home Depot, Inc.
Financial Performance
Home Depot Revenue & Financials
Revenue
$164.7B (FY2025)
Market Cap
$304.6B
Net Income
$14.2B
Employees
470,000
What is Home Depot's revenue?
Home Depot had $164.7B in revenue for fiscal year 2025, up 3.2% from 2024. Net income was $14.2B.
- Latest revenue
- $164.7B (FY2025)
- Year-over-year
- +3.2%
- Growth rate (CAGR)
- 6.4% over 9 years
- Peak revenue
- $164.7B (FY2025)
- Years of data
- 10
- Employees
- 470,000
- What is Home Depot's operating income?
- Home Depot reported operating income of $20.9B for fiscal year 2025. sec.gov
- How much profit does Home Depot make?
- Home Depot reported net income of $14.2B for fiscal year 2025. sec.gov
- How many employees does Home Depot have?
- Home Depot has about 470,000 employees.
Financial Analysis
Sales climbed from $110.2 billion in fiscal 2019 to $151.2 billion in fiscal 2021 during the pandemic remodeling boom, peaked at $157.4 billion in fiscal 2022, and dipped to $152.7 billion in fiscal 2023. Acquisitions then pushed sales to $159.5 billion in fiscal 2024 (a 53-week year) and $164.7 billion in fiscal 2025. Net earnings fell from a $17.1 billion peak in fiscal 2022 to $14.2 billion in fiscal 2025, and GAAP diluted EPS was $14.23. For fiscal 2026, management expects total sales growth of about 2.5% to 4.5%, comparable sales between flat and up 2%, about 15 new stores, and capital spending of about 2.5% of sales. Home Depot raised its quarterly dividend 1.3% in February 2026. The Home Depot is the largest home improvement retailer in the United States, commanding a massive market valuation often exceeding $350 billion.
Revenue Trend Analysis
YoY Change
+3.2%
9-Year CAGR
+6.4%
Peak Year
2025
Trend
Consistent Growth
The Home Depot, Inc. has 10 full fiscal year figures on this page, compounding at +6.4% annually over 9 years. The most recent year saw a 3.2% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $164.7B. Of 9 comparable year-over-year steps, 8 showed growth and 1 showed a decline.
Annual revenue history
Click any row to see year details.
The Home Depot, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row.
| Fiscal Year | Operating cash flow | Total assets | Total liabilities | Shareholders' equity | Source |
|---|---|---|---|---|---|
| FY2025ended Feb 1, 2026 | $16.3B | $105.1B | $92.3B | $12.8B | Form 10-K |
| FY2024ended Feb 2, 2025 | $19.8B | $96.1B | $89.5B | $6.6B | Form 10-K |
| FY2023ended Jan 28, 2024 | $21.2B | $76.5B | $75.5B | $1B | Form 10-K |
| FY2022ended Jan 29, 2023 | $14.6B | $76.4B | $74.9B | $1.6B | Form 10-K |
| FY2021ended Jan 30, 2022 | $16.6B | $71.9B | $73.6B | -$1.7B | Form 10-K |
| FY2020ended Jan 31, 2021 | $18.8B | $70.6B | $67.3B | $3.3B | Form 10-K |
| FY2019ended Feb 2, 2020 | $13.7B | $51.2B | $54.4B | -$3.1B | Form 10-K |
| FY2018ended Feb 3, 2019 | $13.2B | $44B | $45.9B | -$1.9B | Form 10-K |
| FY2017ended Jan 28, 2018 | $12B | $44.5B | $43.1B | $1.5B | Form 10-K |
| FY2016ended Jan 29, 2017 | $9.8B | $43B | $38.6B | $4.3B | Form 10-K |
Keep researching Home Depot
Home Depot Revenue and Financial FAQ
What are the primary financial drivers of The Home Depot's net sales?
The Home Depot's net sales are driven by comparable store sales growth, average customer ticket size, total customer transaction counts, housing turnover rates, home price appreciation, and consumer spending on residential maintenance, remodeling, and repair projects.
How does The Home Depot allocate its operating cash flow?
The Home Depot adheres to a disciplined capital allocation strategy: reinvesting in business operations and supply chain infrastructure (averaging ~2% of sales in annual Capex), paying a consistently growing quarterly cash dividend (targeting a 55% dividend payout ratio), and utilizing excess cash for share repurchases.
What is The Home Depot's historical Return on Invested Capital (ROIC)?
The Home Depot consistently generates industry-leading Return on Invested Capital (ROIC), frequently exceeding 35% to 40%. This exceptional capital efficiency is driven by high inventory turnover, disciplined store real estate productivity, and optimized supply chain asset utilization.
How did the acquisition of SRS Distribution impact Home Depot's balance sheet?
The $18.25 billion acquisition of SRS Distribution in 2024 was financed through a combination of existing cash, commercial paper, and newly issued senior debt securities, temporarily increasing leverage while substantially expanding total addressable market and EBITDA cash-flow generation.
How does lumber and building commodity price deflation affect Home Depot's top-line revenue?
Lumber and commodity construction materials are major sales drivers. When market prices for framing lumber, plywood, or copper fluctuate significantly, Home Depot's comparable sales and average ticket sizes reflect these shifts, though gross margin percentages typically remain relatively stable.
What is The Home Depot's dividend policy and history?
The Home Depot has paid consecutive quarterly cash dividends for over 140 quarters and has grown its dividend payout for decades, making it a favorite among dividend growth investors seeking stable yield backed by resilient operating cash flows.
How does The Home Depot manage working capital and inventory turnover?
Home Depot optimizes working capital through vendor-managed inventory (VMI) systems, sophisticated demand-sensing logistics algorithms, cross-dock rapid deployment centers (RDCs), and extended supplier payment terms, keeping inventory holding costs minimal while maintaining high shelf availability.
What impact does macroeconomic interest rate policy have on Home Depot's financial performance?
High mortgage interest rates can suppress existing home sales and turnover, which often dampens large-scale remodeling projects; however, aging US housing stock and high accumulated homeowner equity provide strong structural support for essential home repair and maintenance spending.
Is Home Depot profitable?
Incredibly so. During the COVID-19 pandemic, as millions of Americans were trapped in their houses with stimulus checks, Home Depot saw massive, historic spikes in revenue as people renovated their homes. They generate massive billions in free cash flow, aggressively buying back their own stock and paying heavy dividends.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Home Depot Revenue & Financials." CorpDigest, https://corpdigest.com/company/home-depot/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Home Depot reported $164.7B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/home-depot/financials" target="_blank" rel="noopener">CorpDigest — Home Depot financials</a></div>Related Financial Audits
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