Companies /Consumer Cyclical

Home Depot Inc

NYSE: HD Home Improvement Retail
$282.81
▼ $1.68 (−0.59%) today
Markets open · 1:47pm ET

Q4 2025 Earnings

Reported Feb 24, 2026, 6:07am ET · SEC source
$2.72
Beat +7.80%
EPS · est. $2.52 Adjusted
$38.2B
Beat +0.25%
Revenue · est. $38.1B
−8.4%
Trailing market
HD vs S&P since report
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%−2%0Feb 24Feb 25report 6:07am ETearnings+1.3%−4.4%
−4%−2%0Feb 24Feb 25earnings+1.3%−4.4%
HD −4.4%S&P 500 +1.3%
−4%−2%0+2%Feb 24Feb 25report 6:07am ETearnings+2.0%−4.4%
−4%−2%0+2%Feb 24Feb 25earnings+2.0%−4.4%
HD −4.4%NASDAQ +2.0%
−6%−3%0Feb 23Mar 4report 6:07am ETearnings−0.4%−5.1%
−6%−3%0Feb 23Mar 4earnings−0.4%−5.1%
HD −5.1%S&P 500 −0.4%
−6%−3%0+3%Feb 23Mar 4report 6:07am ETearnings−0.0%−5.1%
−6%−3%0+3%Feb 23Mar 4earnings−0.0%−5.1%
HD −5.1%NASDAQ −0.0%
+1.99%
Day of report
−2.32%
Next session
−4.57%
One week
−14.58%
30 days

S&P 500 over the same 30 days: −6.15%.

Did HD Beat Earnings? Q4 2025 Results

Home Depot posted a better-than-expected fourth quarter for fiscal 2025, with adjusted diluted EPS of $2.72 clearing the $2.52 consensus by 7.80%, even as total revenue of $38.20 billion edged ahead of estimates by just 0.25% amid a 3.8% year-over-year decline. The headline revenue drop was largely a calendar artifact: Q4 fiscal 2025 comprised 13 weeks versus 14 in the prior year, with that missing week alone accounting for roughly $2.50 billion in lost sales. Comparable sales rose 0.4% in the quarter, supported by a 2.4% gain in average ticket to $91.28, though comparable customer transactions slipped 1.6%, pointing to price and mix rather than foot traffic as the underlying driver. Big-ticket purchases above $1,000 showed resilience, reflecting firmer demand from professional customers even as the broader housing market remained under pressure from elevated mortgage rates. Looking ahead, management guided fiscal 2026 total sales growth of approximately 2.5% to 4.5% and adjusted diluted EPS growth of approximately flat to 4.0% from the $14.69 fiscal 2025 base, while also approving a 1.3% dividend increase to $2.33 per share quarterly.

Key Takeaways
  • Comparable sales increased 0.4% in Q4, driven by 2.4% average ticket growth
  • Comparable customer transactions declined 1.6% in Q4
  • Q4 fiscal 2025 had 13 weeks vs. 14 weeks in Q4 fiscal 2024, with the 14th week adding approximately $2.5 billion in sales
  • Market share gains throughout fiscal 2025
  • Average ticket increased to $91.28 from $89.11 in the year-ago quarter

“Throughout fiscal 2025, our teams did an incredible job engaging with our customers and growing market share, and I would like to thank them for their hard work and dedication.”

Home Depot CEO, on the earnings call

Forward Guidance & Outlook

For fiscal 2026, Home Depot guided total sales growth of approximately 2.5% to 4.5%, comparable sales growth of approximately flat to 2.0%, approximately 15 new stores, gross margin of approximately 33.1%, operating margin of approximately 12.4% to 12.6% (adjusted operating margin of approximately 12.8% to 13.0%), effective tax rate of approximately 24.3%, net interest expense of approximately $2.3 billion, diluted EPS growth of approximately flat to 4.0% from $14.23 in fiscal 2025, adjusted diluted EPS growth of approximately flat to 4.0% from $14.69 in fiscal 2025, and capital expenditures of approximately 2.5% of total sales.

HD YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$20.0B$40.0B$39.7B$38.2BRevenue$13.0B$12.5BGross Profit$4.5B$3.8BOperating Income$3.0B$2.6BNet Income
$0$20.0B$40.0BRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.