Financials The Home Depot, Inc.

Equities

HD

US4370761029

Home Improvement Products & Services Retailers

Market Closed - Nyse Other stock markets 04:00:02 2024-04-26 pm EDT			5-day change	1st Jan Change
335.1 ^USD	+0.94%		-0.08%	-3.31%

Apr. 25	Microsoft-backed Rubrik prices US IPO above range at $32/shr	RE
Apr. 24	Microsoft-backed Rubrik prices IPO above range at $32 per share, source says	RE

Valuation

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	255,102	299,349	382,755	322,766	353,617	332,084	-	-
Enterprise Value (EV) ¹	284,452	328,692	420,498	363,202	393,968	374,332	373,694	373,353
P/E ratio	22.8 x	23.3 x	23.6 x	19 x	23.5 x	21.9 x	20.4 x	18.9 x
Yield	2.39%	2.21%	2.07%	-	-	2.69%	2.84%	3.03%
Capitalization / Revenue	2.31 x	2.27 x	2.53 x	2.05 x	2.32 x	2.15 x	2.1 x	2.02 x
EV / Revenue	2.58 x	2.49 x	2.78 x	2.31 x	2.58 x	2.43 x	2.36 x	2.27 x
EV / EBITDA	15.7 x	15.7 x	16.2 x	13.4 x	15.8 x	15 x	14.4 x	13.7 x
EV / FCF	25.8 x	20.1 x	30 x	31.6 x	22 x	23.1 x	22.8 x	21 x
FCF Yield	3.88%	4.98%	3.33%	3.17%	4.56%	4.33%	4.38%	4.76%
Price to Book	-80.9 x	90.8 x	-224 x	-	341 x	182 x	-326 x	-9,596 x
Nbr of stocks (in thousands)	1,090,831	1,076,601	1,044,239	1,019,186	995,262	991,031	-	-
Reference price ²	233.9	278.0	366.5	316.7	355.3	335.1	335.1	335.1
Announcement Date	2/25/20	2/23/21	2/22/22	2/21/23	2/20/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	110,225	132,110	151,157	157,403	152,669	154,308	158,364	164,765
EBITDA ¹	18,139	20,907	25,902	27,014	24,936	24,982	25,973	27,309
EBIT ¹	15,843	18,388	23,040	24,039	21,689	21,794	22,761	24,151
Operating Margin	14.37%	13.92%	15.24%	15.27%	14.21%	14.12%	14.37%	14.66%
Earnings before Tax (EBT) ¹	14,715	16,978	21,737	22,477	19,924	19,985	21,030	22,414
Net income ¹	11,242	12,866	16,433	17,105	15,143	15,079	15,841	16,792
Net margin	10.2%	9.74%	10.87%	10.87%	9.92%	9.77%	10%	10.19%
EPS ²	10.25	11.94	15.53	16.69	15.11	15.32	16.39	17.70
Free Cash Flow ¹	11,045	16,376	14,005	11,496	17,946	16,210	16,356	17,770
FCF margin	10.02%	12.4%	9.27%	7.3%	11.75%	10.51%	10.33%	10.78%
FCF Conversion (EBITDA)	60.89%	78.33%	54.07%	42.56%	71.97%	64.89%	62.97%	65.07%
FCF Conversion (Net income)	98.25%	127.28%	85.22%	67.21%	118.51%	107.51%	103.25%	105.82%
Dividend per Share ²	5.580	6.150	7.600	-	-	9.026	9.511	10.14
Announcement Date	2/25/20	2/23/21	2/22/22	2/21/23	2/20/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: January	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1
Net sales ¹	36,820	35,719	38,908	43,792	38,872	35,831	37,257	42,916	37,710	34,786	36,672	42,545	37,714	37,413	38,127
EBITDA ¹	6,509	5,559	6,656	7,956	6,891	5,511	6,344	7,384	6,233	4,975	5,946	7,245	6,198	5,532	6,365
EBIT ¹	5,795	4,825	5,929	7,210	6,148	4,752	5,551	6,589	5,406	4,143	5,170	6,491	5,439	4,681	5,485
Operating Margin	15.74%	13.51%	15.24%	16.46%	15.82%	13.26%	14.9%	15.35%	14.34%	11.91%	14.1%	15.26%	14.42%	12.51%	14.39%
Earnings before Tax (EBT) ¹	5,469	4,502	5,560	6,831	5,742	4,344	5,110	6,161	4,968	3,685	4,700	6,032	5,008	4,246	5,060
Net income ¹	4,129	3,352	4,231	5,173	4,339	3,362	3,873	4,659	3,810	2,801	3,563	4,549	3,777	3,209	3,820
Net margin	11.21%	9.38%	10.87%	11.81%	11.16%	9.38%	10.4%	10.86%	10.1%	8.05%	9.71%	10.69%	10.01%	8.58%	10.02%
EPS ²	3.920	3.210	4.090	5.050	4.240	3.300	3.820	4.650	3.810	2.820	3.600	4.626	3.842	3.267	3.915
Dividend per Share ²	1.650	1.900	1.900	1.900	1.900	-	2.090	-	-	-	2.256	2.256	2.256	2.270	2.306
Announcement Date	11/16/21	2/22/22	5/17/22	8/16/22	11/15/22	2/21/23	5/16/23	8/15/23	11/14/23	2/20/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	29,350	29,343	37,743	40,436	40,351	42,248	41,610	41,269
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.618 x	1.404 x	1.457 x	1.497 x	1.618 x	1.691 x	1.602 x	1.511 x
Free Cash Flow ¹	11,045	16,376	14,005	11,496	17,946	16,210	16,356	17,770
ROE (net income / shareholders' equity)	-	458%	2,050%	-	1,162%	1,554%	1,353%	521%
ROA (Net income/ Total Assets)	23.6%	21.1%	23.1%	23.1%	19.8%	19.5%	20.9%	21.1%
Assets ¹	47,615	60,908	71,229	74,161	76,488	77,444	75,820	79,585
Book Value Per Share ²	-2.890	3.060	-1.640	-	1.040	1.840	-1.030	-0.0300
Cash Flow per Share ²	12.50	17.50	15.70	14.30	21.10	20.20	21.80	28.40
Capex ¹	2,678	2,463	2,566	3,119	3,226	3,111	3,158	3,277
Capex / Sales	2.43%	1.86%	1.7%	1.98%	2.11%	2.02%	1.99%	1.99%
Announcement Date	2/25/20	2/23/21	2/22/22	2/21/23	2/20/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for The Home Depot, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

335.1 USD

Average target price

384.8 USD

Spread / Average Target

+14.84%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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HORNBACH HOLDING AG & CO. KGAA	+12.27%	1.26B
DCM HOLDINGS CO., LTD.	+12.14%	1.23B

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