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HD

Latest: Q2 FY27 · Thesis page →
Revenue$47.9B+5.7% YoY
Net income$4.8B+4.7% YoY
Free cash flow—YoY n/a
Gross margin33.7%+0.3 pts vs a year ago

Revenue vs Net income

Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.

■ Revenue   ■ Net income
$0$17.2B$34.5B$51.7BQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27Q2 '27

Margin trend

Gross, operating and net margin. Margins are derived from reported dollars.

● Gross margin   ● Operating margin   ● Net margin
3%14%26%38%Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27Q2 '27

Revenue YoY growth

Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).

+3%-4%+5%+6%Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27Q2 '27

Income statement

From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.

Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27Q2 '27
Revenue$40.2B$39.7B$39.9B$45.3B$41.4B$38.2B$41.8B$47.9B
YoY————+2.8%-3.8%+4.8%+5.7%
Cost of goods sold$26.8B$26.7B$26.4B$30.2B$27.5B$25.7B$28.0B$31.7B
YoY————+2.8%-3.5%+6.0%+5.3%
Gross profit$13.4B$13.0B$13.5B$15.1B$13.8B$12.5B$13.8B$16.1B
YoY————+2.9%-4.4%+2.4%+6.5%
Research & development————————
YoY————————
Selling, general & administrative$7.2B$7.7B$7.5B$7.8B$7.6B$7.8B$8.0B$8.4B
YoY————+5.9%+0.6%+5.7%+8.5%
Operating income$5.4B$4.5B$5.1B$6.6B$5.4B$3.8B$5.0B$6.8B
YoY————-1.2%-14.4%-3.0%+4.3%
Pretax income$4.8B$3.9B$4.5B$6.0B$4.8B$3.3B$4.4B$6.3B
YoY————-1.4%-15.2%-3.6%+5.2%
Income tax$1.2B$890.0M$1.1B$1.5B$1.2B$727.0M$1.1B$1.5B
YoY————-1.6%-18.3%-1.9%+6.5%
Net income$3.6B$3.0B$3.4B$4.6B$3.6B$2.6B$3.3B$4.8B
YoY————-1.3%-14.2%-4.2%+4.7%
EPS — basic$3.68—$3.46$4.59$3.63—$3.31$4.79
YoY————-1.4%—-4.3%+4.4%
EPS — diluted$3.67—$3.45$4.58$3.62—$3.30$4.79
YoY————-1.4%—-4.3%+4.6%
Weighted shares — basic991.0M—992.0M992.0M993.0M—994.0M994.0M
Weighted shares — diluted993.0M—994.0M994.0M995.0M—996.0M996.0M

Balance sheet

Point-in-time values at each quarter (or fiscal year) end.

Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27Q2 '27
Cash & equivalents$1.5B$1.7B$1.4B$2.8B$1.7B$1.4B$1.6B$2.1B
YoY————+10.0%-16.3%+16.9%-25.6%
Marketable securities (current)————————
YoY————————
Accounts receivable$5.8B$4.9B$5.9B$5.9B$6.8B$5.6B$6.6B$7.0B
YoY————+17.0%+14.2%+12.5%+18.5%
Inventory$23.9B$23.5B$25.8B$24.8B$26.2B$25.8B$27.3B$26.8B
YoY————+9.6%+10.1%+5.9%+8.1%
Total current assets$32.9B$31.7B$34.5B$35.4B$36.1B$34.4B$37.2B$37.7B
YoY————+9.6%+8.5%+7.7%+6.6%
Total assets$97.3B$96.1B$99.2B$100.0B$106.3B$105.1B$107.9B$109.4B
YoY————+9.3%+9.3%+8.8%+9.3%
Total current liabilities$29.1B$28.7B$31.6B$30.8B$34.4B$32.4B$35.6B$35.0B
YoY————+18.1%+13.1%+12.6%+13.4%
Total liabilities$91.5B$89.5B$91.2B$89.4B$94.2B$92.3B$94.0B$92.8B
YoY————+2.9%+3.1%+3.1%+3.8%
Total equity$5.8B$6.6B$8.0B$10.7B$12.1B$12.8B$13.9B$16.6B
YoY————+109.4%+93.0%+74.4%+55.8%
Shares outstanding993.0M994.0M995.0M995.0M995.0M996.0M997.0M998.0M
YoY————+0.2%+0.2%+0.2%+0.3%

Cash flow

Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.

Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27Q2 '27
Operating cash flow$4.2B$4.7B$4.3B$4.6B$4.0B$3.3B$6.0B$5.4B
YoY————-5.3%-28.3%+39.5%+16.1%
Capital expenditures————————
YoY————————
Free cash flow————————
YoY————————
Dividends paid————————
YoY————————
Share repurchases$0$0$0$0$0$0——
YoY————————

Margins & ratios

Derived from the reported dollars above — no separate source.

Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27Q2 '27
Gross margin33.4%32.8%33.8%33.4%33.4%32.6%33.0%33.7%
Operating margin13.5%11.3%12.9%14.5%12.9%10.1%11.9%14.3%
Net margin9.1%7.5%8.6%10.1%8.7%6.7%7.9%10.0%
Free cash flow margin————————
Effective tax rate24.4%22.9%24.4%24.2%24.3%22.0%24.9%24.5%
Current ratio1.13x1.11x1.09x1.15x1.05x1.06x1.04x1.08x
Total liabilities / equity15.81x13.48x11.46x8.38x7.77x7.20x6.78x5.58x

Peer comparison — latest full year

Same sector (Consumer Discretionary), sorted by revenue. All figures from the same EDGAR XBRL snapshot.

TickerRevenueRevenue YoYGross marginOperating marginNet marginFCF margin
HD FY26 · this stock$164.7B+3.2%33.3%12.7%8.6%—
AMZN FY25$716.9B+12.4%—11.2%10.8%—
GM FY25$185.0B-1.3%—1.6%1.5%9.5%
F FY24$185.0B+5.0%—2.8%——
TSLA FY25$94.8B-2.9%18.0%4.6%4.0%6.6%
LOW FY26$86.3B+3.1%33.5%11.8%7.7%8.9%
NKE FY26$46.4B+0.2%42.9%—6.7%4.7%
SBUX FY25$37.2B+2.8%—7.9%5.0%6.6%
MCD FY25$26.9B+3.7%—46.1%31.9%26.7%
MAR FY25$26.2B+4.3%—15.8%9.9%—
ROST FY26$22.8B+7.7%——9.4%9.7%

Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.