Compiled 2026-09-26Data through 2026-02-012 min read
Dated source-based research · No live market data

Research summary

A two-period review of HD revenue, profitability and cash conversion; reported revenue growth was 3.24%.

Period comparison

FY2025 ended 2026-02-01; the prior observation ended 2025-02-02. Revenue moved from USD 159.514 billion to USD 164.683 billion. These are annual periods, not quarterly earnings or trailing-twelve-month estimates.

Earnings bridge

Net income moved from USD 14.806 billion to USD 14.156 billion. Operating income moved from USD 21.526 billion to USD 20.890 billion. Net margin moved from 9.28% to 8.60%. A margin change identifies an outcome; its causes require management discussion and footnotes.

Cash-flow cross-check

Operating cash flow was USD 19.810 billion in the earlier period and USD 16.325 billion in the later period. Selected free cash flow was not available and not available, respectively. Working-capital timing can cause earnings and cash to diverge.

Interpretation and limits

A rise in reported revenue does not by itself identify organic growth. A difference in EPS can reflect share-count changes as well as operating performance. No causal claim is made from these aggregate figures.

Valuation context

An earnings comparison provides a historical denominator, not a price target. A dated market price is deliberately absent from this static release.

What to monitor

Unit volumes, comparable sales, inventory, pricing and operating leverage.

Risks and uncertainties

Consumer affordability, input inflation, competitive promotions and discretionary demand.

Sources & dates