Company profile
SEC EDGAR ↗- Industry
- Retail-Lumber & Other Building Materials Dealers
- Listed
- NYSE: HD
- Incorporated
- DE
- Headquarters
- Atlanta, GA
- Fiscal year end
- Jan 31
Financials
FY2026- Revenue
- $164.7B
- Net income
- $14.2B
- Total assets
- $105.1B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2026 | $164.7B | $14.2B | $105.1B |
| FY2025 | $159.5B | $14.8B | $96.1B |
| FY2024 | $152.7B | $15.1B | $76.5B |
| FY2023 | $157.4B | $17.1B | $76.4B |
| FY2022 | $151.2B | $16.4B | $71.9B |
| FY2021 | $132.1B | $12.9B | $70.6B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
The analyses
The Money Machine · Business Model
Home Depot Stacked RDCs, an MRO Distributor, and an $18.25B Arm on the Same Pro Customer
The 'world's best supply chain' story misses the point. Across 2008, 2020, and 2024, Home Depot assembled a stack — RDCs, an MRO distributor, and an $18.25 billion trade-distribution arm — each layer raising switching costs for the pro buyer, and each adding leverage the story skips.
8 min
The Market-Entry Gambit · Growth & Portfolio
Home Depot Opened With Empty Boxes on the Shelves. The Format Was Still Unbeatable.
On opening day in 1979, Home Depot's founders couldn't afford stock, so they faked it with donated empty boxes and paid strangers to walk in. They lost money for two years. The format won anyway - because the price gap was too wide for bad execution to kill.
7 min
The Market-Entry Gambit · Growth & Portfolio
Home Depot Capped Its Own Growth at About 22% a Year and Let Density Do the Rest
The legend says Home Depot blankets markets to suffocate rivals. The 10-Ks say something duller and smarter: it capped its own growth at ~22% a year and poured the openings into markets it already owned. The moat is geography, not doctrine.
7 min
The Moat Anatomy · Moat & Competition
Home Depot's 'Half Its Revenue Is Pros' Stat Hides the Part That Matters
Home Depot says pros are about half its business. True - but the CEO admitted most of that is small 'cash-and-carry' infill, not the big project work. So it spent $24B-plus on SRS and GMS to finally capture the wallet share it never had.
8 min