Jul 2026 (Q2 FY27) — Aug 18, 2026
The Home Depot Q2 FY27 — Strong Comps and Market Share Gains Driven by Pro and Digital
Read the full callHome Depot (HD) earnings
- Aug 2026
- Jul 2026 (Q2 FY27)
- Feb 2026
Home Depot earnings: last reported Tue, 18 Aug 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 47,861 | +5.7% YoY | Quarterly, as filed | Quarter to Aug 2026 | Revenue from operations as filed. |
| Operating margin | 14.3 | −0.2 pts YoY | Operating profit / revenue | Quarter to Aug 2026 | For the quarter; a change is in percentage points. |
| Net profit | 4,766 | +4.7% YoY | Quarterly, as filed | Quarter to Aug 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
18 of 19 judged targets kept · 23 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Non-U.S. sourcing concentration (single-country cap) | No single country outside the U.S. to represent more than 10% of purchases, within 12 months | Apr 2025 | Pending | |
| Trade Credit universal in-store usability | All Trade Credit customers able to seamlessly use Trade Credit for in-store purchases later this year (fiscal 2025) | Jul 2025 | we're rolling this out steadily. We're taking our time. | Delayed |
| Full-year adjusted diluted EPS growth | decline approximately 2% | Jan 2025 | Adjusted diluted earnings per share for fiscal 2025 were $14.69, a decrease of 3.6% compared to fiscal 2024. | Achieved* |
1 of HOME DEPOT, INC.'s 42 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 39 more targets are in the full ledger.
Claimed
- Total sales increased 5.7% to $47.9 billion, exceeding expectations.
- Comparable sales increased 1.7% (U.S. comps up 1.3%), reflecting broad-based demand.
- Adjusted diluted earnings per share rose 5.1% to $4.92.
- 13 of 16 merchandising departments posted positive comparable sales, indicating broad engagement.
- Online comparable sales increased 11% year-over-year, marking the fifth consecutive quarter of double-digit growth.
Qualified
- Consumer uncertainty and housing affordability continue to pressure demand for larger home improvement projects.
- Gross margin was impacted by approximately 60 basis points from incremental cost pressures (fuel, energy, product inputs) and a 60 basis point mix change from the GMS acquisition, largely offset by tariff refunds.
- Merchandise inventories increased by $2 billion year-over-year to $26.8 billion, with inventory turns decreasing to 4.5x from 4.6x.
- Return on invested capital decreased to 24.8% from 27.2% in the prior year.
Price
$309.88 +0.08% · +$0.25
Performance −20.9% 1Y
1Y: $391.9 on 17 Oct 2025 → $309.88. High $391.9 (17 Oct 2025), low $281.15 (5 Oct 2026).
- Previous close
- $309.63
- 52-week range
- $281.15 – $391.05
- One year
- −20.32%
Overview
- Symbol
- HD
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
18 of 19 judged targets kept · 23 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Non-U.S. sourcing concentration (single-country cap) | No single country outside the U.S. to represent more than 10% of purchases, within 12 months | Apr 2025 | Pending | |
| Trade Credit universal in-store usability | All Trade Credit customers able to seamlessly use Trade Credit for in-store purchases later this year (fiscal 2025) | Jul 2025 | we're rolling this out steadily. We're taking our time. | Delayed |
| Full-year adjusted diluted EPS growth | decline approximately 2% | Jan 2025 | Adjusted diluted earnings per share for fiscal 2025 were $14.69, a decrease of 3.6% compared to fiscal 2024. | Achieved* |
Claimed
- Total sales increased 5.7% to $47.9 billion, exceeding expectations.
- Comparable sales increased 1.7% (U.S. comps up 1.3%), reflecting broad-based demand.
- Adjusted diluted earnings per share rose 5.1% to $4.92.
- 13 of 16 merchandising departments posted positive comparable sales, indicating broad engagement.
- Online comparable sales increased 11% year-over-year, marking the fifth consecutive quarter of double-digit growth.
Qualified
- Consumer uncertainty and housing affordability continue to pressure demand for larger home improvement projects.
- Gross margin was impacted by approximately 60 basis points from incremental cost pressures (fuel, energy, product inputs) and a 60 basis point mix change from the GMS acquisition, largely offset by tariff refunds.
- Merchandise inventories increased by $2 billion year-over-year to $26.8 billion, with inventory turns decreasing to 4.5x from 4.6x.
- Return on invested capital decreased to 24.8% from 27.2% in the prior year.
The full ledger
Open HOME DEPOT, INC.’s full ledger
A free account opens 5 company ledgers a month. All 42 tracked commitments, with each call’s wording and source.
Call summaries
May 2026 (Q1 FY27) — May 19, 2026
The Home Depot, Inc. Q1 FY27 — Results in line with expectations, Pro outperformance
Read the full callFeb 2026 (Q4 FY26) — Feb 24, 2026
The Home Depot, Inc. Q4 FY26 — Pro Ecosystem Traction and Market Share Gains
Read the full callEvery analysed call
Home Depot earnings calls (HD)
Financials
What the filings say
Net profit, year on year: +5% (quarter to aug 2026 against aug 2025).
| Line item | Oct 2024 | Feb 2025 | May 2025 | Aug 2025 | Nov 2025 | Feb 2026 | May 2026 | Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 40,217 | 39,704 | 39,856 | 45,277 | 41,352 | 38,198 | 41,765 | 47,861 |
| Operating profit | 5,418 | 4,495 | 5,133 | 6,555 | 5,353 | 3,849 | 4,981 | 6,839 |
| Operating margin | 13.5% | 11.3% | 12.9% | 14.5% | 12.9% | 10.1% | 11.9% | 14.3% |
| Other income | -595 | -608 | -591 | -550 | -596 | -551 | -604 | -524 |
| Interest | 625 | 638 | 615 | 575 | 628 | 594 | 611 | 583 |
| Profit before tax | 4,823 | 3,887 | 4,542 | 6,005 | 4,757 | 3,298 | 4,377 | 6,315 |
| Tax rate | 24.4% | 22.9% | 24.4% | 24.2% | 24.3% | 22.0% | 24.9% | 24.5% |
| Net profit | 3,648 | 2,997 | 3,433 | 4,551 | 3,601 | 2,571 | 3,289 | 4,766 |
| EPS ($ per share) | 3.68 | — | 3.46 | 4.59 | 3.63 | — | 3.31 | 4.79 |
| Line item | Feb 2019 | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 89 | 89 | 89 | 90 | 90 | — | — | — |
| Reserves | 46,423 | 51,729 | 58,134 | 67,580 | 76,896 | 83,656 | 89,533 | 94,537 |
| Total liabilities | 45,881 | 54,352 | 67,282 | 73,572 | 74,883 | 75,486 | 89,479 | 92,282 |
| Fixed assets | 22,375 | 22,770 | 24,705 | 25,199 | 25,631 | 26,154 | 26,702 | 28,021 |
| Total assets | 44,003 | 51,236 | 70,581 | 71,876 | 76,445 | 76,530 | 96,119 | 105,095 |
| Line item | Feb 2019 | Feb 2020 | Jan 2021 | Jan 2022 | Jan 2023 | Jan 2024 | Feb 2025 | Feb 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 13,165 | 13,687 | 18,839 | 16,571 | 14,615 | 21,172 | 19,810 | 16,325 |
| Cash from investing | -2,416 | -2,653 | -10,170 | -2,969 | -3,140 | -4,729 | -21,031 | -8,980 |
| Cash from financing | -12,547 | -10,798 | -2,983 | -19,120 | -10,993 | -15,443 | -694 | -7,714 |
| Capital expenditure | -2,442 | -2,678 | -2,463 | -2,566 | -3,119 | -3,226 | -3,485 | -3,679 |
| Free cash flow | 10,723 | 11,009 | 16,376 | 14,005 | 11,496 | 17,946 | 16,325 | 12,646 |
HD revenue by segment
Primary shrank from 97% to 89% of revenue over the last two years.
| Segment | Q2 FY2025 | Q3 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Primary | 97% | 93% | 94% | 93% | 91% | 92% | 90% | 89% | +1.5% |
| All Other Segments | — | — | 6% | 7% | 9% | 8% | 10% | 11% | +62.0% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
HD operating KPIs by quarter
| KPI | Aug 2025 Q2 FY26 | Nov 2025 Q3 FY26 | May 2026 Q1 FY27 | Jul 2026 Q2 FY27 | Change vs prior quarter |
|---|---|---|---|---|---|
| Stores | 2,353During the second quarter, we opened 3 new stores, bringing our total store count to 2,353.Source: earnings call transcript | 2,356During the third quarter, we opened 3 new stores, bringing our total store count to 2,356.Source: earnings call transcript | 2,361During the first quarter, we opened 12 new stores, bringing our total store count to 2,361.Source: earnings call transcript | 2,364During the second quarter, we opened 3 new stores, bringing our total store count to 2,364.Source: earnings call transcript | +0.1% |
| New stores opened | 3During the second quarter, we opened 3 new stores, bringing our total store count to 2,353.Source: earnings call transcript | 3During the third quarter, we opened 3 new stores, bringing our total store count to 2,356.Source: earnings call transcript | 2We opened 2 new stores during the quarter, not 12, apologies for that.Source: earnings call transcript | 3During the second quarter, we opened 3 new stores, bringing our total store count to 2,364.Source: earnings call transcript | +50% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2027 · share of revenue
- US 92% ↓ 1 pt
- Non Us 8% ↑ 1 pt
As HD cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
72 filings between Nov 19, 2025 and Sep 20, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$6.69M
10 sales by 7 insiders
Compensation
not trading decisions- 27
- Award — granted as compensation
- 4
- Option exercise — converted options into shares
- 31
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| McPhail Richard V | — | $3.03M | Aug 19, 2026 |
| Roseborough Teresa Wynn | — | $1.81M | Aug 28, 2026 |
| BROWN ANGIE | — | $695.9K | Dec 12, 2025 |
| Deaton John A. | — | $661.6K | Mar 4, 2026 |
| Rowe Michael F. | — | $239.1K | Aug 26, 2026 |
| Scardino Kimberly R | — | $206.5K | Sep 10, 2026 |
| Campbell Ann Marie | — | $51.9K | Dec 11, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 20, 2026 | SMITH STEPHANIE EVP - Human Resources | Tax withheld | 130 | $39.0K |
| Sep 20, 2026 | Deaton John A. EVP - Supply Chain & Prod. Dev | Tax withheld | 344 | $103.2K |
| Sep 20, 2026 | McPhail Richard V EVP & CFO | Tax withheld | 554 | $166.2K |
| Sep 20, 2026 | BROWN ANGIE EVP & CIO | Tax withheld | 96 | $28.8K |
| Sep 20, 2026 | Broggi Jordan EVP-Interconnected Retail | Tax withheld | 130 | $39.0K |
| Sep 20, 2026 | Scardino Kimberly R SVP-Finance, CAO & Controller | Tax withheld | 81 | $24.3K |
| Sep 10, 2026 | Scardino Kimberly R SVP-Finance, CAO & Controller | Sale | 675 | $206.5K |
| Aug 28, 2026 | Roseborough Teresa Wynn EVP, Gen. Counsel & Corp. Sec. | Sale | 2,455 | $807.1K |
| Aug 26, 2026 | Rowe Michael F. EVP, Pro | Sale | 710 | $239.1K |
| Aug 20, 2026 | Bastek William D EVP, Merchandising | Award | 1,494 | $0 |
| Aug 20, 2026 | Broggi Jordan EVP-Interconnected Retail | Award | 1,494 | $0 |
| Aug 20, 2026 | McPhail Richard V EVP & CFO | Award | 1,494 | $0 |
| Aug 19, 2026 | McPhail Richard V EVP & CFO | Sale | 5,989 | $2.09M |
| Aug 19, 2026 | McPhail Richard V EVP & CFO | Option exercise | 5,989 | $882.5K |
| May 21, 2026 | Brown J Frank Director | Award | 796 | $0 |
| May 20, 2026 | BELL FRANZISKA EVP-Chief Technology Officer | Award | 51,516 | $0 |
| Apr 3, 2026 | Bastek William D EVP, Merchandising | Tax withheld | 2,972 | $955.9K |
| Mar 25, 2026 | Scardino Kimberly R SVP-Finance, CAO & Controller | Award | 902 | $0 |
| Mar 25, 2026 | Decker Edward P. Chair, President and CEO | Award | 11,548 | $0 |
| Mar 25, 2026 | Roseborough Teresa Wynn EVP, Gen. Counsel & Corp. Sec. | Award | 2,440 | $0 |
| Mar 25, 2026 | SMITH STEPHANIE EVP - Human Resources | Award | 2,345 | $0 |
| Mar 25, 2026 | Broggi Jordan EVP-Cust. Exp. & Pres.-Online | Award | 3,022 | $0 |
| Mar 25, 2026 | Campbell Ann Marie Senior EVP | Award | 4,691 | $0 |
| Mar 25, 2026 | BROWN ANGIE EVP & CIO | Award | 2,255 | $0 |
| Mar 25, 2026 | Bastek William D EVP, Merchandising | Award | 3,518 | $0 |
| Mar 25, 2026 | Deaton John A. EVP - Supply Chain & Prod. Dev | Award | 2,467 | $0 |
| Mar 25, 2026 | Rowe Michael F. EVP, Pro | Award | 2,255 | $0 |
| Mar 25, 2026 | McPhail Richard V EVP & CFO | Award | 3,969 | $0 |
| Mar 24, 2026 | SMITH STEPHANIE EVP - Human Resources | Tax withheld | 109 | $36.1K |
| Mar 24, 2026 | McPhail Richard V EVP & CFO | Tax withheld | 514 | $170.1K |
| Mar 24, 2026 | Scardino Kimberly R SVP-Finance, CAO & Controller | Tax withheld | 107 | $35.4K |
| Mar 24, 2026 | Bastek William D EVP, Merchandising | Tax withheld | 160 | $52.9K |
| Mar 24, 2026 | Broggi Jordan EVP-Cust. Exp. & Pres.-Online | Tax withheld | 126 | $41.7K |
| Mar 24, 2026 | Deaton John A. EVP - Supply Chain & Prod. Dev | Tax withheld | 155 | $51.3K |
| Mar 24, 2026 | BROWN ANGIE EVP & CIO | Tax withheld | 38 | $12.6K |
| Mar 22, 2026 | Rowe Michael F. EVP, Pro | Tax withheld | 239 | $76.7K |
| Mar 4, 2026 | McPhail Richard V EVP & CFO | Sale | 2,550 | $940.7K |
| Mar 4, 2026 | Deaton John A. EVP - Supply Chain & Prod. Dev | Sale | 1,793 | $661.6K |
| Feb 26, 2026 | Campbell Ann Marie Senior EVP | Award | 3,878 | $0 |
| Feb 26, 2026 | Deaton John A. EVP - Supply Chain & Prod. Dev | Tax withheld | 759 | $284.7K |
| Feb 26, 2026 | Deaton John A. EVP - Supply Chain & Prod. Dev | Award | 2,552 | $0 |
| Feb 26, 2026 | McPhail Richard V EVP & CFO | Award | 3,878 | $0 |
| Feb 26, 2026 | Roseborough Teresa Wynn EVP, Gen. Counsel & Corp. Sec. | Tax withheld | 665 | $249.4K |
| Feb 26, 2026 | Roseborough Teresa Wynn EVP, Gen. Counsel & Corp. Sec. | Tax withheld | 1,059 | $397.2K |
| Feb 26, 2026 | Roseborough Teresa Wynn EVP, Gen. Counsel & Corp. Sec. | Award | 2,519 | $0 |
| Feb 26, 2026 | McPhail Richard V EVP & CFO | Tax withheld | 1,328 | $498.1K |
| Feb 26, 2026 | Rowe Michael F. EVP, Pro | Tax withheld | 226 | $84.8K |
| Feb 26, 2026 | Rowe Michael F. EVP, Pro | Award | 729 | $0 |
| Feb 26, 2026 | Scardino Kimberly R SVP-Finance, CAO & Controller | Tax withheld | 268 | $100.5K |
| Feb 26, 2026 | Scardino Kimberly R SVP-Finance, CAO & Controller | Award | 874 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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