Analysis of Inventory
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Inventory Disclosure
Home Depot Inc., balance sheet: inventory
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).
Merchandise inventories exhibited a generally increasing trend over the observed period, though with notable fluctuations. Initial values increased significantly before experiencing a decrease and subsequent recovery.
- Overall Trend
- From January 31, 2021, to January 28, 2024, merchandise inventories increased from US$16,627 million to US$20,976 million. This represents a cumulative increase of approximately 26.1%. However, this growth was not linear. A substantial increase occurred between 2021 and 2022, followed by a further increase between 2022 and 2023. A decrease was then observed between 2023 and 2024.
- Growth and Contraction
- The most significant increase occurred between January 31, 2021, and January 30, 2022, with a rise of US$5,441 million. A subsequent increase of US$2,818 million was recorded between January 30, 2022, and January 29, 2023. In contrast, a decrease of US$3,910 million was observed between January 29, 2023, and January 28, 2024. This represents the only period of contraction within the analyzed timeframe.
- Recent Performance
- Following the decrease in 2024, merchandise inventories began to recover. An increase of US$2,475 million was recorded between January 28, 2024, and February 2, 2025. This upward trend continued with a further increase of US$1,936 million between February 2, 2025, and February 1, 2026. This suggests a potential stabilization and renewed growth in inventory levels.
The fluctuations in merchandise inventories warrant further investigation to understand the underlying drivers, such as changes in supply chain dynamics, sales patterns, or strategic inventory management decisions.