Common-Size Balance Sheet: Assets
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
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Home Depot Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-05-03), 10-K (reporting date: 2026-02-01), 10-Q (reporting date: 2025-11-02), 10-Q (reporting date: 2025-08-03), 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03).
The asset structure of the organization has undergone a significant strategic shift over the analyzed period, transitioning from a liquidity-heavy position to one dominated by long-term intangible assets. Total current assets, which peaked at 51.56% in November 2020, have steadily declined to a range between 32.72% and 34.82% by early 2026. Conversely, long-term assets have increased from 53.56% in May 2020 to consistently exceed 65% in the latter half of the period.
- Liquidity and Current Asset Trends
- Cash and cash equivalents experienced a sharp contraction. After peaking at 22.32% in August 2020, the ratio declined precipitously, stabilizing at a significantly lower baseline between 1.32% and 5.38% from 2022 onward. Merchandise inventories showed high volatility, rising from 25.52% in May 2020 to a peak of 34.41% in July 2022 before normalizing to approximately 24-25% by 2026. Receivables remained relatively stable but exhibited a slight upward trend, moving from 4.44% to 6.14%.
- Fixed and Long-Term Asset Evolution
- Net property and equipment have seen a consistent relative decline, dropping from 38.64% in May 2020 to 25.88% by May 2026, indicating that physical asset growth has not kept pace with the overall growth of the balance sheet. Operating lease right-of-use assets have remained stable, fluctuating within a narrow band of 8% to 10%.
- Structural Recomposition of Intangibles
- A profound shift in asset composition occurred in July 2024. Goodwill jumped from 10.68% in April 2024 to 20.05% in July 2024, remaining above 20% through early 2026. This coincides with the first appearance of net intangible assets, which entered the balance sheet at 9.51% in July 2024 and stabilized around 9.5%. This simultaneous increase in goodwill and the emergence of intangible assets, coupled with a sharp drop in other assets from 5.34% to 0.71%, suggests a major acquisition or a significant corporate restructuring event.
Overall, the balance sheet has evolved from a model characterized by high cash reserves and physical infrastructure toward a model heavily weighted by acquired intangible value and goodwill, reflecting a change in the underlying nature of the company's asset base.