Financials The Home Depot, Inc. Lima

Equities

HD

US4370761029

Home Improvement Products & Services Retailers

Real-time Estimate Cboe BZX Other stock markets 21:06:39 28/06/2024 BST			5-day change	1st Jan Change
341.7 ^USD	+3.16%		0.00%	+3.50%

06-26	Home Depot Shares Rise Following DA Davidson Upgrade	MT
06-26	DA Davidson Upgrades Home Depot to Buy Rating, Price Target is $395	MT

Valuation

Fiscal Period: January	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	255,102	299,349	382,755	322,766	353,617	338,626	-	-
Enterprise Value (EV) ¹	284,452	328,692	420,498	363,202	393,968	375,460	372,342	371,293
P/E ratio	22.8 x	23.3 x	23.6 x	19 x	23.5 x	22.4 x	21.1 x	19.6 x
Yield	2.39%	2.21%	2.07%	-	-	2.64%	2.81%	3.04%
Capitalization / Revenue	2.31 x	2.27 x	2.53 x	2.05 x	2.32 x	2.19 x	2.13 x	2.04 x
EV / Revenue	2.58 x	2.49 x	2.78 x	2.31 x	2.58 x	2.43 x	2.34 x	2.24 x
EV / EBITDA	15.7 x	15.7 x	16.2 x	13.4 x	15.8 x	15.1 x	14.3 x	13.5 x
EV / FCF	25.8 x	20.1 x	30 x	31.6 x	22 x	22.4 x	22.4 x	21.3 x
FCF Yield	3.88%	4.98%	3.33%	3.17%	4.56%	4.46%	4.46%	4.7%
Price to Book	-80.9 x	90.8 x	-224 x	-	341 x	53.7 x	52.7 x	28.9 x
Nbr of stocks (in thousands)	1,090,831	1,076,601	1,044,239	1,019,186	995,262	991,614	-	-
Reference price ²	233.9	278.0	366.5	316.7	355.3	341.5	341.5	341.5
Announcement Date	25/02/20	23/02/21	22/02/22	21/02/23	20/02/24	-	-	-

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	154,469	158,947	166,030
EBITDA ¹	18,139	20,907	25,902	27,014	24,936	24,932	26,059	27,464
EBIT ¹	15,843	18,388	23,040	24,039	21,689	21,741	22,807	24,139
Operating Margin	14.37%	13.92%	15.24%	15.27%	14.21%	14.07%	14.35%	14.54%
Earnings before Tax (EBT) ¹	14,715	16,978	21,737	22,477	19,924	19,966	21,017	22,265
Net income ¹	11,242	12,866	16,433	17,105	15,143	15,124	15,895	16,749
Net margin	10.2%	9.74%	10.87%	10.87%	9.92%	9.79%	10%	10.09%
EPS ²	10.25	11.94	15.53	16.69	15.11	15.25	16.21	17.44
Free Cash Flow ¹	11,045	16,376	14,005	11,496	17,946	16,746	16,610	17,443
FCF margin	10.02%	12.4%	9.27%	7.3%	11.75%	10.84%	10.45%	10.51%
FCF Conversion (EBITDA)	60.89%	78.33%	54.07%	42.56%	71.97%	67.16%	63.74%	63.51%
FCF Conversion (Net income)	98.25%	127.28%	85.22%	67.21%	118.51%	110.72%	104.5%	104.14%
Dividend per Share ²	5.580	6.150	7.600	-	-	9.025	9.608	10.37
Announcement Date	25/02/20	23/02/21	22/02/22	21/02/23	20/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: January	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	2026 Q2
Net sales ¹	35,719	38,908	43,792	38,872	35,831	37,257	42,916	37,710	34,786	36,418	42,572	37,971	37,695	38,331	44,659
EBITDA ¹	5,559	6,656	7,956	6,891	5,511	6,344	7,384	6,233	4,975	5,916	7,250	6,261	5,567	6,359	7,856
EBIT ¹	4,825	5,929	7,210	6,148	4,752	5,551	6,589	5,406	4,143	5,079	6,473	5,471	4,722	5,473	6,936
Operating Margin	13.51%	15.24%	16.46%	15.82%	13.26%	14.9%	15.35%	14.34%	11.91%	13.95%	15.2%	14.41%	12.53%	14.28%	15.53%
Earnings before Tax (EBT) ¹	4,502	5,560	6,831	5,742	4,344	5,110	6,161	4,968	3,685	4,651	6,025	5,030	4,246	5,032	6,502
Net income ¹	3,352	4,231	5,173	4,339	3,362	3,873	4,659	3,810	2,801	3,600	4,534	3,788	3,200	3,799	4,909
Net margin	9.38%	10.87%	11.81%	11.16%	9.38%	10.4%	10.86%	10.1%	8.05%	9.89%	10.65%	9.98%	8.49%	9.91%	10.99%
EPS ²	3.210	4.090	5.050	4.240	3.300	3.820	4.650	3.810	2.820	3.630	4.577	3.820	3.234	3.845	4.988
Dividend per Share ²	1.900	1.900	1.900	1.900	-	2.090	-	-	-	-	2.256	2.256	2.270	2.362	2.306
Announcement Date	22/02/22	17/05/22	16/08/22	15/11/22	21/02/23	16/05/23	15/08/23	14/11/23	20/02/24	14/05/24	-	-	-	-	-

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	36,833	33,716	32,666
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.618 x	1.404 x	1.457 x	1.497 x	1.618 x	1.477 x	1.294 x	1.189 x
Free Cash Flow ¹	11,045	16,376	14,005	11,496	17,946	16,746	16,610	17,443
ROE (net income / shareholders' equity)	-	458%	2,050%	-	1,162%	378%	203%	168%
ROA (Net income/ Total Assets)	23.6%	21.1%	23.1%	23.1%	19.8%	19.3%	20.2%	21.6%
Assets ¹	47,615	60,908	71,229	74,161	76,488	78,291	78,749	77,544
Book Value Per Share ²	-2.890	3.060	-1.640	-	1.040	6.360	6.480	11.80
Cash Flow per Share ²	12.50	17.50	15.70	14.30	21.10	19.80	20.90	23.30
Capex ¹	2,678	2,463	2,566	3,119	3,226	3,153	3,211	3,358
Capex / Sales	2.43%	1.86%	1.7%	1.98%	2.11%	2.04%	2.02%	2.02%
Announcement Date	25/02/20	23/02/21	22/02/22	21/02/23	20/02/24	-	-	-

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

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

341.5 USD

Average target price

381.2 USD

Spread / Average Target

+11.63%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Other Home Improvement Products & Services Retailers