Home Depot (HD)

Consumer Discretionary · $300B market cap · SEC CIK 0000354950

Next reports on Nov 17, 2026, with analysts expecting $3.96 in earnings per share.

The case for HD

• Earns 103% on shareholder equity, a figure flattered by a small equity base.
• Pays a 2.7% dividend while you wait.

The case against

• Down 28.5% over the past year.
• Priced at 20× book value. Very little hard asset backing here.
• Near the bottom of its 52-week range, 27% below the high. Falling prices usually have a reason; find it first.
• Long-term debt of $49.4B against $1.4B of cash.
• Revenue grew only 2.5%, roughly the pace of inflation.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Consumer Discretionary companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.

• Each factor except momentum is half fixed thresholds, half rank among the 48 Consumer Discretionary companies.

Key numbers

Five years of financials, as filed

Pulled from Home Depot's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.

Share count is down 6.0% over 4 years. Buybacks have been shrinking the pie.

What Home Depot says it does

INTRODUCTION The Home Depot, Inc. is the world’s largest home improvement retailer based on net sales for fiscal 2025. We offer our customers a wide assortment of home improvement products, building materials, lawn and garden products, décor products, and facilities MRO products, in stores and online. We also provide a number of services, including home improvement installation services, and tool and equipment rental. As of the end of fiscal 2025, we o perated 2,359 stor es located throughout the U.S. (including the Commonwealth of Puerto Rico and the territories of the U.S. Virgin Islands and Guam), Canada, and Mexico. The Home Depot stores average approximately 104,000 square feet of enclosed space, with approximately 24,000 additional square feet of outside garden area. We also maintain a network of distribution and fulfillment centers, as well as mobile applications and e-commerce websites in the U.S., Canada, and Mexico. For…

Risk factors HD lists in its 10-K

• Investing in the Associate Experience
• Note: Certain percentages may not sum to totals due to rounding
• (1) Includes associates in our sourcing organization located in India, Italy, Poland, Türkiye, Taiwan, Vietnam and China
• Strong competition could adversely affect prices and demand for our products and services and could decrease our market share
• We may not timely identify or effectively respond to customer needs, expectations or trends, which could adversely affect our relationship with our customers, the demand for our products and services, and our market share
• The execution of initiatives to deliver our interconnected experience could adversely impact our business operations or financial results, and these initiatives might not provide the anticipated benefits
• Our strategic transactions involve risks, which could have an adverse impact on our business, financial condition and results of operations, and we may not realize the anticipated benefits of these transactions
• A failure of one or more key elements of our technology infrastructure, including associated systems or processes, could adversely affect our business, financial results, and reputation
• Disruptions in our customer-facing technology infrastructure could impair our interconnected experience strategy and give rise to negative customer experiences, damage our brand and reputation and adversely impact our sales
• Disruptions in our supply chain and other factors affecting the availability and distribution of our merchandise could adversely impact our business, financial results, and reputation
• Failure to maintain a safe and secure shopping and working environment may adversely impact sales, costs, the customer and associate experience, and our brand and reputation
• Our success depends upon our ability to attract, develop and retain highly qualified associates to provide excellent customer service and to support our strategic initiatives while also controlling our labor costs
• We are subject to payment-related risks that could increase our operating costs, expose us to fraud or theft, subject us to potential liability, and potentially disrupt our business
• Our proprietary products subject us to certain increased risks, including regulatory, product liability, intellectual property, supplier relations, and reputational risks

Filings

Other Consumer Discretionary companies