Stock Analysis on Net

Home Depot Inc. (NYSE:HD)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

Historical Valuation Ratios (Summary)

Home Depot Inc., historical price multiples (quarterly data)

Microsoft Excel
Feb 2, 2025 Oct 27, 2024 Jul 28, 2024 Apr 28, 2024 Jan 28, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019
Price to earnings (P/E) 23.58 27.66 24.70 22.42 24.80 19.35 19.99 17.71 17.09 19.37 18.61 17.91 19.94 26.76 22.50 22.81 24.51 23.56 26.04 24.24 17.38
Price to operating profit (P/OP) 16.22 19.08 17.24 15.71 17.32 13.63 14.08 12.53 12.16 13.73 13.22 12.76 14.22 19.12 16.06 16.20 17.25 16.72 18.45 17.14 12.33
Price to sales (P/S) 2.19 2.61 2.40 2.20 2.46 1.98 2.10 1.90 1.86 2.11 2.02 1.94 2.17 2.89 2.37 2.38 2.39 2.34 2.58 2.37 1.77
Price to book value (P/BV) 52.57 69.84 82.54 183.15 359.76 212.51 243.07 819.13 187.12 255.09 1,325.66 412.02 165.73 192.67 95.58 191.69

Based on: 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Home Depot Inc. P/E ratio increased from Q2 2025 to Q3 2025 but then decreased significantly from Q3 2025 to Q4 2025.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Home Depot Inc. P/OP ratio increased from Q2 2025 to Q3 2025 but then decreased significantly from Q3 2025 to Q4 2025.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Home Depot Inc. P/S ratio increased from Q2 2025 to Q3 2025 but then decreased significantly from Q3 2025 to Q4 2025.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Home Depot Inc. P/BV ratio decreased from Q2 2025 to Q3 2025 and from Q3 2025 to Q4 2025.

Price to Earnings (P/E)

Home Depot Inc., historical P/E calculation (quarterly data)

Microsoft Excel
Feb 2, 2025 Oct 27, 2024 Jul 28, 2024 Apr 28, 2024 Jan 28, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019
No. shares of common stock outstanding1 994,032,168 993,362,612 993,293,377 991,614,186 991,015,773 995,261,844 1,000,065,982 1,005,376,130 1,014,955,506 1,019,186,022 1,023,726,443 1,027,754,946 1,033,349,933 1,044,239,177 1,055,358,696 1,063,258,434 1,077,069,383 1,076,600,781 1,076,455,514 1,075,522,865 1,074,741,592 1,090,831,020 1,095,153,073 1,100,286,099
Selected Financial Data (US$)
Net earnings (in millions) 2,997 3,648 4,561 3,600 2,801 3,810 4,659 3,873 3,362 4,339 5,173 4,231 3,352 4,129 4,807 4,145 2,857 3,432 4,332 2,245 2,481 2,769 3,479 2,513
Earnings per share (EPS)2 14.89 14.71 14.87 15.00 15.28 15.78 16.23 16.66 16.85 16.77 16.49 16.07 15.90 15.26 14.44 13.89 11.95 11.60 10.99 10.20 10.46 0.00 0.00 0.00
Share price1, 3 351.15 406.80 367.27 336.15 378.99 305.34 324.48 294.94 287.97 324.88 306.90 287.92 317.05 408.37 324.90 316.75 292.75 273.31 286.13 247.36 181.76 220.76 218.21 189.99
Valuation Ratio
P/E ratio4 23.58 27.66 24.70 22.42 24.80 19.35 19.99 17.71 17.09 19.37 18.61 17.91 19.94 26.76 22.50 22.81 24.51 23.56 26.04 24.24 17.38
Benchmarks
P/E Ratio, Competitors5
Amazon.com Inc. 40.99 41.73 39.67 49.43 58.66 65.74 110.16 251.97 93.17 118.45 59.05 48.08 65.12 57.25 65.00 78.20
Lowe’s Cos. Inc. 18.74 22.51 20.20 17.00 18.81 15.00 21.99 18.78 17.65 19.09 15.54 14.78 17.84 20.72 20.32 20.09 22.36 21.14 22.50 21.16 11.96
TJX Cos. Inc. 28.69 28.98 27.77 25.04 24.63 24.43 25.52 23.28 25.22 27.24 21.73 22.68 22.20 31.03 35.26 53.90 881.78 103.90 92.86 38.61 17.13

Based on: 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).

1 Data adjusted for splits and stock dividends.

2 Q4 2025 Calculation
EPS = (Net earningsQ4 2025 + Net earningsQ3 2025 + Net earningsQ2 2025 + Net earningsQ1 2025) ÷ No. shares of common stock outstanding
= (2,997,000,000 + 3,648,000,000 + 4,561,000,000 + 3,600,000,000) ÷ 994,032,168 = 14.89

3 Closing price as at the filing date of Home Depot Inc. Quarterly or Annual Report.

4 Q4 2025 Calculation
P/E ratio = Share price ÷ EPS
= 351.15 ÷ 14.89 = 23.58

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Home Depot Inc. P/E ratio increased from Q2 2025 to Q3 2025 but then decreased significantly from Q3 2025 to Q4 2025.

Price to Operating Profit (P/OP)

Home Depot Inc., historical P/OP calculation (quarterly data)

Microsoft Excel
Feb 2, 2025 Oct 27, 2024 Jul 28, 2024 Apr 28, 2024 Jan 28, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019
No. shares of common stock outstanding1 994,032,168 993,362,612 993,293,377 991,614,186 991,015,773 995,261,844 1,000,065,982 1,005,376,130 1,014,955,506 1,019,186,022 1,023,726,443 1,027,754,946 1,033,349,933 1,044,239,177 1,055,358,696 1,063,258,434 1,077,069,383 1,076,600,781 1,076,455,514 1,075,522,865 1,074,741,592 1,090,831,020 1,095,153,073 1,100,286,099
Selected Financial Data (US$)
Operating income (in millions) 4,495 5,418 6,534 5,079 4,143 5,406 6,589 5,551 4,752 6,148 7,210 5,929 4,825 5,795 6,639 5,781 4,083 4,852 6,067 3,276 3,403 3,947 4,896 3,597
Operating profit per share2 21.66 21.32 21.30 21.40 21.89 22.40 23.04 23.53 23.68 23.66 23.21 22.56 22.30 21.35 20.23 19.55 16.97 16.35 15.51 14.43 14.74 0.00 0.00 0.00
Share price1, 3 351.15 406.80 367.27 336.15 378.99 305.34 324.48 294.94 287.97 324.88 306.90 287.92 317.05 408.37 324.90 316.75 292.75 273.31 286.13 247.36 181.76 220.76 218.21 189.99
Valuation Ratio
P/OP ratio4 16.22 19.08 17.24 15.71 17.32 13.63 14.08 12.53 12.16 13.73 13.22 12.76 14.22 19.12 16.06 16.20 17.25 16.72 18.45 17.14 12.33
Benchmarks
P/OP Ratio, Competitors5
Amazon.com Inc. 35.40 34.34 32.41 39.31 48.43 50.04 81.28 81.03 86.50 81.33 89.87 64.24 64.48 60.45 56.87 62.96 72.85
Lowe’s Cos. Inc. 12.45 14.94 13.35 11.24 12.58 9.93 13.56 11.78 11.18 12.38 10.76 10.29 12.45 14.46 12.77 12.57 13.52 12.50 15.21 14.04 8.11
TJX Cos. Inc. 22.15 22.59 21.69 19.53 19.01 18.86 19.79 17.90 18.15 19.26 15.06 14.90 15.32 18.99 21.99 30.54 137.02 74.61 60.02 30.12 12.69

Based on: 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).

1 Data adjusted for splits and stock dividends.

2 Q4 2025 Calculation
Operating profit per share = (Operating incomeQ4 2025 + Operating incomeQ3 2025 + Operating incomeQ2 2025 + Operating incomeQ1 2025) ÷ No. shares of common stock outstanding
= (4,495,000,000 + 5,418,000,000 + 6,534,000,000 + 5,079,000,000) ÷ 994,032,168 = 21.66

3 Closing price as at the filing date of Home Depot Inc. Quarterly or Annual Report.

4 Q4 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 351.15 ÷ 21.66 = 16.22

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Home Depot Inc. P/OP ratio increased from Q2 2025 to Q3 2025 but then decreased significantly from Q3 2025 to Q4 2025.

Price to Sales (P/S)

Home Depot Inc., historical P/S calculation (quarterly data)

Microsoft Excel
Feb 2, 2025 Oct 27, 2024 Jul 28, 2024 Apr 28, 2024 Jan 28, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019
No. shares of common stock outstanding1 994,032,168 993,362,612 993,293,377 991,614,186 991,015,773 995,261,844 1,000,065,982 1,005,376,130 1,014,955,506 1,019,186,022 1,023,726,443 1,027,754,946 1,033,349,933 1,044,239,177 1,055,358,696 1,063,258,434 1,077,069,383 1,076,600,781 1,076,455,514 1,075,522,865 1,074,741,592 1,090,831,020 1,095,153,073 1,100,286,099
Selected Financial Data (US$)
Net sales (in millions) 39,704 40,217 43,175 36,418 34,786 37,710 42,916 37,257 35,831 38,872 43,792 38,908 35,719 36,820 41,118 37,500 32,261 33,536 38,053 28,260 25,782 27,223 30,839 26,381
Sales per share2 160.47 155.63 153.12 153.11 154.05 154.45 154.87 154.92 155.08 154.33 151.64 148.44 146.28 141.44 136.84 132.94 122.66 116.69 110.84 104.23 102.56 0.00 0.00 0.00
Share price1, 3 351.15 406.80 367.27 336.15 378.99 305.34 324.48 294.94 287.97 324.88 306.90 287.92 317.05 408.37 324.90 316.75 292.75 273.31 286.13 247.36 181.76 220.76 218.21 189.99
Valuation Ratio
P/S ratio4 2.19 2.61 2.40 2.20 2.46 1.98 2.10 1.90 1.86 2.11 2.02 1.94 2.17 2.89 2.37 2.38 2.39 2.34 2.58 2.37 1.77
Benchmarks
P/S Ratio, Competitors5
Amazon.com Inc. 3.81 3.36 2.92 3.15 3.10 2.38 2.68 2.06 2.06 2.10 2.83 2.65 3.41 3.73 3.80 4.17 4.32
Lowe’s Cos. Inc. 1.56 1.84 1.67 1.44 1.68 1.27 1.43 1.25 1.17 1.33 1.37 1.31 1.56 1.79 1.51 1.45 1.46 1.33 1.60 1.31 0.71
TJX Cos. Inc. 2.48 2.50 2.38 2.12 2.03 1.92 1.98 1.76 1.77 1.88 1.47 1.52 1.50 1.81 2.05 2.15 2.48 2.33 1.96 1.77 1.34

Based on: 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).

1 Data adjusted for splits and stock dividends.

2 Q4 2025 Calculation
Sales per share = (Net salesQ4 2025 + Net salesQ3 2025 + Net salesQ2 2025 + Net salesQ1 2025) ÷ No. shares of common stock outstanding
= (39,704,000,000 + 40,217,000,000 + 43,175,000,000 + 36,418,000,000) ÷ 994,032,168 = 160.47

3 Closing price as at the filing date of Home Depot Inc. Quarterly or Annual Report.

4 Q4 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 351.15 ÷ 160.47 = 2.19

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Home Depot Inc. P/S ratio increased from Q2 2025 to Q3 2025 but then decreased significantly from Q3 2025 to Q4 2025.

Price to Book Value (P/BV)

Home Depot Inc., historical P/BV calculation (quarterly data)

Microsoft Excel
Feb 2, 2025 Oct 27, 2024 Jul 28, 2024 Apr 28, 2024 Jan 28, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019
No. shares of common stock outstanding1 994,032,168 993,362,612 993,293,377 991,614,186 991,015,773 995,261,844 1,000,065,982 1,005,376,130 1,014,955,506 1,019,186,022 1,023,726,443 1,027,754,946 1,033,349,933 1,044,239,177 1,055,358,696 1,063,258,434 1,077,069,383 1,076,600,781 1,076,455,514 1,075,522,865 1,074,741,592 1,090,831,020 1,095,153,073 1,100,286,099
Selected Financial Data (US$)
Stockholders’ equity (deficit) (in millions) 6,640 5,786 4,420 1,820 1,044 1,430 1,335 362 1,562 1,298 237 (1,709) (1,696) 1,035 2,069 1,748 3,299 1,535 (414) (3,490) (3,116) (1,082) (1,160) (2,143)
Book value per share (BVPS)2 6.68 5.82 4.45 1.84 1.05 1.44 1.33 0.36 1.54 1.27 0.23 -1.66 -1.64 0.99 1.96 1.64 3.06 1.43 -0.38 -3.24 -2.90 -0.99 -1.06 -1.95
Share price1, 3 351.15 406.80 367.27 336.15 378.99 305.34 324.48 294.94 287.97 324.88 306.90 287.92 317.05 408.37 324.90 316.75 292.75 273.31 286.13 247.36 181.76 220.76 218.21 189.99
Valuation Ratio
P/BV ratio4 52.57 69.84 82.54 183.15 359.76 212.51 243.07 819.13 187.12 255.09 1,325.66 412.02 165.73 192.67 95.58 191.69
Benchmarks
P/BV Ratio, Competitors5
Amazon.com Inc. 8.49 8.03 7.45 8.60 8.84 7.21 8.54 7.00 7.25 7.67 10.46 9.44 11.60 14.19 14.68 16.93 17.86 18.40 21.50 17.47
Lowe’s Cos. Inc. 307.81 90.79 27.86 29.56 56.37 25.96 36.00 32.50 22.70
TJX Cos. Inc. 16.63 17.26 17.00 15.53 15.09 14.69 15.38 13.78 13.86 16.35 13.53 13.52 12.14 12.85 13.82 13.27 13.68 13.99 14.17 13.72 9.42 12.92 12.53 11.88

Based on: 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).

1 Data adjusted for splits and stock dividends.

2 Q4 2025 Calculation
BVPS = Stockholders’ equity (deficit) ÷ No. shares of common stock outstanding
= 6,640,000,000 ÷ 994,032,168 = 6.68

3 Closing price as at the filing date of Home Depot Inc. Quarterly or Annual Report.

4 Q4 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 351.15 ÷ 6.68 = 52.57

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Home Depot Inc. P/BV ratio decreased from Q2 2025 to Q3 2025 and from Q3 2025 to Q4 2025.