Home Depot, Inc.
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+ FollowMarket Cap$353.3B
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Earnings Call Q2 2026
August 18, 2026 - AI Summary
Solid Q2 operating performance vs. expectations (share gains in a tough housing backdrop)
- Sales: $47.9B, +5.7% YoY; U.S. comps +1.3%, total company comps +1.7%.
- Earnings: Adjusted diluted EPS $4.92 (vs. $4.68 last year, +5.1% YoY). Also cited DILUTED EPS (reported) $4.79.
- Demand tone: customers engaged across smaller repair/maintenance and broader categories; pressure remains for larger discretionary projects and housing affordability.
Margin / cost story: tariff refunds helped timing; underlying gross margin stable but cost pressures persist
- Tariff refunds: $685M reduced COGS in Q2 (out of $730M received); $45M of refunds remains in inventory and will flow through P&L as inventory turns.
- Gross margin: 33.7%, +~25 bps YoY primarily due to the tariff benefit (partially offset by fuel/energy/input costs and acquisition mix).
- Outlook on margin: company expects Q4 gross margin roughly flat vs last year; they reaffirm guidance because tariff benefits are expected to be offset by incremental cost pressure over the year.
Strategy execution: “core and culture,” frictionless connected experience, and faster delivery are key opportunities
- Record store execution: strong on-shelf availability and associate enablement (technology tools).
- Delivery acceleration (important growth engine):
- Parcel in-stock deliveries: >65% same day/next day.
- Express Delivery nationwide: launched for delivery on “tens of thousands” of products in ~3 hours or less (often <1 hour).
- Big & bulky: delivery lead times down ~45% over 18 months; ~55% of big/bulky deliveries delivered within 2 days.
- Pro momentum: Pro positive comp; Pro outperformed DIY and strength across multiple pro-heavy categories (portable power, decking, dimensional lumber, etc.). Company believes it’s improving “sticky” pro relationships.
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Share Statistics
| Market cap | $353.30 Billion |
|---|---|
| Enterprise Value | $409.08 Billion |
| Annual dividend | $9.29 |
| Dividend yield | 2.82% |
| Earnings per Share | $14.27 |
| Beta | 1 |
| Outstanding Shares | 994,000,000 |
Return
| Return on Equity | 85.62% |
|---|---|
| Return on Assets | 13.01% |
| Return on Invested Capital | 28.45% |
Valuation & Multiples
| P/E Ratio | 22.99 |
|---|---|
| PEG | 486.61 |
| Price to Sales | 2.09 |
| Price to Book Ratio | 22.21 |
| Enterprise Value to Revenue | 2.42 |
| Enterprise Value to EBIT | 19.33 |
| Enterprise Value to Net Income | 28 |
| Total Debt to Enterprise | 0.14 |
| Debt to Equity | 3.48 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 18, 2026
EPS Estimate
$4.73
Consensus analyst estimateRevenue Estimate
$47.24 B
Consensus analyst estimateNext Earnings Call
Expected Date
November 17, 2026
EPS Estimate
$3.83
Consensus analyst estimateRevenue Estimate
$42.77 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 6.33, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 6.3333▲ 552.02% |
|---|---|
| Total Calls | 9,600▼ 99.92% |
| Total Puts | 60,800▼ 99.36% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 4.57%▼ 72.89% |
|---|---|
| Total Invested | $12.92B▼ 95.24% |
| Investors Holding | 1,803▼ 2439.00% |
About Home Depot, Inc.
472,400 employees
CEO: Craig Menear
The Home Depot, Inc. operates as a leading retail entity in the home improvement industry. Its extensive network of "The Home Depot" stores offers a wide assortment of products, encompassing construction materials, renovation essentials,...