The Home Depot, Inc. (HD) 10-K Financial Statements & Excel Model (.xlsx)
Access audited annual financial statements for The Home Depot, Inc. directly from SEC EDGAR. Review multi-year US-GAAP performance across Pro contractor and DIY consumer segments, average customer ticket, SRS Distribution acquisition, forensic solvency metrics, and download the financial model in Excel (.xlsx).
Download The Home Depot, Inc. (HD) 10-K Financial Model
Complete multi-sheet workbook: Summary, Income Statement, Balance Sheet, Cash Flow, Segment Schedule, and 5-Year DCF
1. Audited 3-Year Multi-Period Financial Performance (US-GAAP)
Reported multi-period figures extracted directly from The Home Depot, Inc.'s official SEC Form 10-K filings with US-GAAP XBRL taxonomy verification:
| Line Item (US-GAAP Taxonomy) | FY2022 | FY2023 | FY2024 (Latest) | YoY Growth |
|---|---|---|---|---|
| Net Sales | $157,403M | $152,669M | $155,000M | +1.5% |
| Cost of Sales | $104,657M | $101,756M | $103,000M | +1.2% |
| Gross Profit | $52,746M | $50,913M | $52,000M | +2.1% |
| Gross Margin % | 33.5% | 33.4% | 33.5% | +10 bps |
| Selling, General & Administrative | $26,284M | $26,780M | $27,500M | +2.7% |
| Operating Income (GAAP EBIT) | $24,034M | $21,680M | $21,900M | +1.0% |
| Net Income (GAAP) | $17,105M | $15,142M | $15,200M | +0.4% |
| Diluted Earnings Per Share (EPS) | $16.69 | $15.11 | $15.25 | +0.9% |
| Cash Flow from Operations (CFO) | $14,615M | $21,173M | $19,800M | -6.5% |
| Capital Expenditures (Stores & Supply Chain) | ($3,128M) | ($3,198M) | ($3,400M) | +6.3% |
| Free Cash Flow (FCF) | $11,487M | $17,975M | $16,400M | -8.8% |
2. ASC 280 Segment & Operating Revenue Breakdown
Home Depot sells building products across core departments, serving both Pro contractors and DIY homeowners:
| Segment / Operating Division | FY2022 ($M) | FY2023 ($M) | FY2024 (Latest) ($M) | % of Total Sales | YoY Growth |
|---|---|---|---|---|---|
| Building Materials (Lumber, Electrical, Plumbing) | $55,200M | $53,100M | $55,800M | 36.0% | +5.1% |
| Decor & Storage (Appliances, Flooring, Paint) | $51,900M | $50,400M | $50,500M | 32.6% | +0.2% |
| Hardlines (Hardware, Garden, Tools) | $50,303M | $49,169M | $48,700M | 31.4% | -1.0% |
| Total Consolidated Net Sales | $157,403M | $152,669M | $155,000M | 100.0% | +1.5% |
3. Solvency Analysis, Forensic Accruals & Quality of Earnings
Review of institutional solvency and earnings quality indicators to evaluate balance sheet robustness and financial reporting integrity:
Solid investment-grade credit rating; negative book equity is purely due to multi-decade share buybacks.
Non-manipulator classification; inventory accounts are audited regularly across 2,300+ store locations.
Superior inventory turn velocity compared to specialty building distributors.
Frequently Asked Questions (HD 10-K & Valuation)
How does the $18 billion acquisition of SRS Distribution expand Home Depot's addressable market?
SRS adds 760+ specialty trade branches across roofing, landscaping, and pool supplies, expanding Home Depot's total addressable Pro market by $50 billion to approximately $1 trillion.
Why does Home Depot have negative book value of equity?
Negative stockholders' equity is not a sign of insolvency; it is the mathematical result of aggressive treasury stock repurchases over 30 years using excess cash flow rather than accumulating retained earnings.
What proportion of sales comes from Pro contractors vs DIY homeowners?
Pro customers account for roughly 10% of Home Depot's customer base but generate over 50% of total sales, with average annual spend significantly exceeding that of DIY consumers.
Where can I download Home Depot's 10-K financial model in Excel?
Click 'Download HD .XLSX' to export the audited 3-year model with store comp metrics, inventory turn analysis, and 5-year DCF.
Run Interactive Valuations for HD
Open the full CALIO Terminal to adjust WACC, terminal growth rates, and compare The Home Depot, Inc. directly against industry sector peer benchmarks.