HOME DEPOT, INC.
$348.69
+0.43 (+0.12%) · delayed · Nov 13, 2026
Five-year price
52w $277.15 to $397.63
- Market cap
- $347.9B
- Enterprise value
- $395.9B
- P/E
- 24.5×
- 23.6× on 3y avg EPS
- EV / EBIT
- 19.0×
- FCF yield
- 3.6%
- ROIC
- 26.1%
- Debt / equity
- 3.86
- Piotroski F
- 5/9
Value scorecard · FY2026
Does it pass the value tests?
Quality
100
- ●ROIC > 12% (5y avg)5y avg ROIC 39.3%
- ●ROE > 15% (5y avg)5y avg ROE 719.8%
- ●Stable operating marginsMargin volatility 1.0% (σ, 5y)
- ●Earnings convert to cashFCF / net income 94% (5y avg)
- ●Growing revenueRevenue CAGR 5y 4.5%
- ●Shrinking share countDiluted shares -7.7% over 5y
Value
0
- ○P/E below 15P/E 24.5
- ○EV/EBIT below 12EV/EBIT 19.0
- ○FCF yield above 6%FCF yield 3.6%
- ○Price below Graham NumberGraham Number $64.12
- ○P/B below 3P/B 27.2
Safety
40
- ○Debt / equity below 0.5D/E 3.86
- ●Debt payable in < 4 yrs of earningsNet debt $48.0B
- ●Interest coverage > 8xCoverage 8.7x
- ○Current ratio > 1.5Current ratio 1.06
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
57
- ●Adequate size (revenue > $2B)Revenue $164.7B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.06
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 89%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 23.6
- ○P/E × P/B ≤ 22.5Product 641.8
Valuation lab
What do you have to believe?
At $348.69, the market is pricing in about 11.6% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $48.0B · 998M shares · 5y revenue CAGR 4.5%
Intrinsic value
$193.20
Price
$348.69
Premium paid
80%
What the price implies
The market is paying for 11.6% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
57% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 94,595 | 100,904 | 108,203 | 110,225 | 132,110 | 151,157 | 157,403 | 152,669 | 159,514 | 164,683 |
| Gross profit | 32,313 | 34,356 | 37,160 | 37,572 | 44,853 | 50,832 | 52,778 | 50,960 | 53,308 | 54,865 |
| Operating income | 13,427 | 14,681 | 15,530 | 15,843 | 18,278 | 23,040 | 24,039 | 21,689 | 21,526 | 20,890 |
| Operating margin | 14.2% | 14.5% | 14.4% | 14.4% | 13.8% | 15.2% | 15.3% | 14.2% | 13.5% | 12.7% |
| Pre-tax income | 12,491 | 13,698 | 14,556 | 14,715 | 16,978 | 21,737 | 22,477 | 19,924 | 19,406 | 18,602 |
| Income tax | 4,534 | 5,068 | 3,435 | 3,473 | 4,112 | 5,304 | 5,372 | 4,781 | 4,600 | 4,446 |
| Net income | 7,957 | 8,630 | 11,121 | 11,242 | 12,866 | 16,433 | 17,105 | 15,143 | 14,806 | 14,156 |
| EPS (diluted) | 6.45 | 7.29 | 9.73 | 10.25 | 11.94 | 15.53 | 16.69 | 15.11 | 14.91 | 14.23 |
| Diluted shares | 1,234 | 1,184 | 1,143 | 1,097 | 1,078 | 1,058 | 1,025 | 1,002 | 993 | 995 |
Who owns it