Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Home Depot Inc., EBITDA calculation

US$ in millions

12 months ended:	Feb 2, 2025	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020
Net earnings	14,806)	15,143)	17,105)	16,433)	12,866)	11,242)
Add: Income tax expense	4,600)	4,781)	5,372)	5,304)	4,112)	3,473)
Earnings before tax (EBT)	19,406)	19,924)	22,477)	21,737)	16,978)	14,715)
Add: Interest expense	2,321)	1,943)	1,617)	1,347)	1,347)	1,201)
Earnings before interest and tax (EBIT)	21,727)	21,867)	24,094)	23,084)	18,325)	15,916)
Add: Depreciation and amortization, excluding amortization of intangible assets	3,336)	3,061)	2,796)	2,862)	2,519)	2,296)
Add: Intangible asset amortization	425)	186)	179)	—)	—)	—)
Earnings before interest, tax, depreciation and amortization (EBITDA)	25,488)	25,114)	27,069)	25,946)	20,844)	18,212)

Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Home Depot Inc. EBITDA decreased from 2023 to 2024 but then slightly increased from 2024 to 2025.

Home Depot Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	416,027)
Earnings before interest, tax, depreciation and amortization (EBITDA)	25,488)
Valuation Ratio
EV/EBITDA	16.32
Benchmarks
EV/EBITDA, Competitors¹
Amazon.com Inc.	16.03
Lowe’s Cos. Inc.	13.01
TJX Cos. Inc.	19.14
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail	15.86
EV/EBITDA, Industry
Consumer Discretionary	17.15

Based on: 10-K (reporting date: 2025-02-02).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Home Depot Inc., historical EV/EBITDA calculation, comparison to benchmarks

	Feb 2, 2025	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	400,778)	415,936)	332,713)	365,367)	344,655)	224,695)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	25,488)	25,114)	27,069)	25,946)	20,844)	18,212)
Valuation Ratio
EV/EBITDA³	15.72	16.56	12.29	14.08	16.53	12.34
Benchmarks
EV/EBITDA, Competitors⁴
Amazon.com Inc.	—	19.36	19.88	28.04	21.27	32.24
Lowe’s Cos. Inc.	13.00	13.26	11.98	12.43	14.41	8.98
TJX Cos. Inc.	—	15.33	15.36	13.00	65.35	10.33
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail	—	18.29	17.44	20.13	20.16	24.23
EV/EBITDA, Industry
Consumer Discretionary	—	20.66	18.14	19.78	21.32	29.33

Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02).

¹ See details »

² See details »

³ 2025 Calculation
EV/EBITDA = EV ÷ EBITDA
= 400,778 ÷ 25,488 = 15.72

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Home Depot Inc. EV/EBITDA ratio increased from 2023 to 2024 but then slightly decreased from 2024 to 2025.

Home Depot Inc. (NYSE:HD)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical