Analysis of Debt
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- Income Statement
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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Total Debt (Carrying Amount)
Home Depot Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2026-02-01), 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31).
The carrying amount of total debt exhibited a generally increasing trend over the observed period. From January 31, 2021, to February 1, 2026, total debt increased from US$37,238 million to US$55,772 million.
- Short-Term Debt
- Short-term debt was not reported for 2021 or 2023. It stood at US$1,035 million as of January 30, 2022, and decreased significantly to US$316 million by February 2, 2025, before increasing substantially to US$4,464 million by February 1, 2026. This represents the most volatile component of the debt structure.
- Current Installments of Long-Term Debt
- Current installments of long-term debt demonstrated fluctuation. Beginning at US$1,416 million in 2021, it rose to US$2,447 million in 2022, then decreased to US$1,231 million in 2023 and US$1,368 million in 2024. A notable increase is observed in 2025 and 2026, reaching US$4,582 million and US$4,967 million respectively.
- Long-Term Debt (Excluding Current Installments)
- Long-term debt, excluding current installments, showed a consistent upward trend, although with varying rates of increase. It rose from US$35,822 million in 2021 to US$42,743 million in 2024. The largest increase occurred between 2024 and 2025, reaching US$48,485 million, before decreasing slightly to US$46,341 million in 2026. This component consistently represented the largest portion of the overall debt structure.
The most significant increase in total debt occurred between January 28, 2024, and February 2, 2025, with an increase of US$9,272 million. The increase between February 2, 2025, and February 1, 2026, was US$2,389 million, indicating a slowing rate of increase in the most recent period. The combined effect of changes in short-term debt and current installments of long-term debt contributed significantly to the overall trend, particularly in the later years of the observed period.
Total Debt (Fair Value)
| Feb 1, 2026 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Commercial paper | |
| Senior notes | |
| Finance lease obligations | |
| Other long-term debt | |
| Total debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2026-02-01).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2026-02-01).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =