Common-Size Balance Sheet: Assets
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Based on: 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), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets demonstrates notable volatility. Initially stable around 3.65% to 4.90% through mid-2019, it sharply increased to a peak of 22.32% in August 2020, likely reflecting heightened liquidity needs or cash preservation during that period. Thereafter, it generally declined and stabilized around 1.5% to 4.9% from 2021 onward, suggesting normalization of cash holdings.
- Receivables, net
- Receivables as a percentage of total assets remained relatively stable, fluctuating predominantly between 4.0% and 6.4% over the entire period. A slight upward trend is observed from late 2022 through late 2025, where receivables increased to above 6%, potentially indicating increased credit sales or slower collections.
- Merchandise inventories
- Inventory levels showed considerable variation. Beginning around 30% in early 2019, inventories declined to a low near 21% by mid-2020, correlating with the period of increased cash holdings. From late 2020, inventories rebounded, reaching a peak above 34% in mid-2022. Subsequently, a downward trend ensued, with inventories settling around the mid-20% range by late 2025, which might reflect adjustments to inventory management or demand patterns.
- Other current assets
- This category remained relatively minor, between 1.3% and 2.5% of total assets, with minor fluctuations but no distinct trend, indicating it consistently comprises a small portion of current assets.
- Current assets
- Current assets, as a total percentage of assets, mirror some of the volatility seen in cash and inventories. A peak is noted in mid-2020 at approximately 49.5%, coinciding with elevated cash levels and reduced inventories. After this peak, current assets generally declined to around 33% by late 2024 and 2025, suggesting a strategic shift toward a lower current asset base relative to total assets.
- Net property and equipment
- Net property and equipment steadily declined from about 43% in early 2019 to near 26% by late 2025. This decrease indicates either asset disposals, depreciation outpacing acquisitions, or a strategic de-emphasis on fixed assets relative to the asset base.
- Operating lease right-of-use assets
- Operating lease assets constituted about 8-11% of total assets throughout the period, showing relative stability with slight fluctuations. A modest increase is noted from 2022 to early 2024, indicating some incremental adoption or valuation of leased assets.
- Goodwill
- Goodwill experienced a significant increase in early 2021, jumping from around 3.3% to over 10%, and further peaking above 20% towards late 2024 and 2025. This substantial rise suggests sizeable acquisitions or revaluations impacting recorded goodwill, reflecting enhanced intangible asset creation through business combinations.
- Intangible assets, net
- Intangible assets, separately identified starting in late 2024, represent about 8.7% to 9.8% of total assets. Their appearance alongside growing goodwill indicates an increased recognition of intangible assets over time.
- Other assets
- Aside from a spike occurring between late 2020 and early 2022, where other assets approached 6%, this category remained a minor component otherwise, fluctuating generally below 1.6%. The spike likely aligns to reclassification or recognition of additional asset types which later normalized.
- Long-term assets
- The share of long-term assets fluctuated significantly from about 60% in early 2019, dropping to a low near 48% in late 2020 during the period of high cash holdings, then rebounding to around 66% by late 2024. This variation reflects shifts between current and long-term asset compositions, influenced by changes in cash, fixed assets, goodwill, and other intangibles.