Common-Size Balance Sheet: Assets
Quarterly Data
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Home Depot Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Aggregate Accruals
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Home Depot Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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).
The analysis over the observed periods reveals several key trends in the composition of assets as a percentage of total assets.
- Cash and Cash Equivalents
- There is a notable spike observed during the May 2020 and August 2020 periods, peaking at over 22%. Following this peak, the proportion declines sharply, stabilizing at around 1.5% to 3.5% in the later periods. This pattern suggests a liquidity buildup early in the pandemic period, potentially as a precautionary measure, followed by normalization over subsequent periods.
- Receivables, Net
- This item remains relatively stable, fluctuating mostly between 4% to just under 6%. A gradual upward trend is noticeable from early 2022 through mid-2024, indicating a slight increase in receivables relative to total assets during this timeframe.
- Merchandise Inventories
- Merchandise inventories exhibit a declining trend from above 30% in early periods to lows around 21% in mid-2020. Post this, there is a recovery trend with inventories increasing back above 33% before experiencing another decline during 2023 and 2024. This suggests dynamic inventory management possibly reflective of supply chain adjustments and demand fluctuations.
- Other Current Assets
- This category remains fairly constant, mainly oscillating between 1.3% and 2.5%. Minor fluctuations are present but no significant trend is apparent, indicating stable composition of other current assets relative to the total.
- Current Assets Overall
- Current assets as a group exhibit a peak around 50% during mid-2020, reflecting the surge in cash and inventory. After this peak, a gradual decline is observable, settling around 33% to 35% in the most recent periods, indicating a relative reduction of current assets compared to total assets.
- Net Property and Equipment
- This category shows a slow but steady decline from approximately 43% to under 27% by mid-2024, indicating a reduction in the share of property and equipment assets. This may point to asset sales, depreciation, or a shift in the asset base composition towards other long-term assets.
- Operating Lease Right-of-Use Assets
- The percentage fluctuates between 7.8% and 11%, with a slight downward trend initially followed by an increase towards late 2023 and stabilizing near 8.5% to 10%. It indicates adjustments in leasing arrangements over time, possibly relating to changes in leased property usage or accounting treatments.
- Goodwill
- Goodwill remains relatively stable around 4% to 4.4% until early 2020, after which a substantial jump occurs to above 10%, peaking above 20% in mid-2024. This major increase suggests significant acquisition activity or revaluation of goodwill impacting the asset structure considerably in later periods.
- Intangible Assets, Net
- Intangible assets data is only available from the last few periods, showing a steady proportion close to 9%, indicating a consistent contribution of these assets relative to total assets towards the end of the timeline.
- Other Assets
- Other assets show categorical fluctuations with a jump from below 2% earlier to above 5% in some periods, particularly around 2021 to mid-2023, before dropping back below 1% in late 2024 and 2025 periods. This volatility may correspond to reclassifications or temporary asset inclusions/exclusions.
- Long-term Assets Overall
- The proportion of long-term assets fluctuates significantly, ranging from about 50% at its lowest during mid-2020 to above 66% in late 2023 and 2024. This increase aligns with the rise in goodwill and intangible assets, indicating a shift toward more intangible and long-term asset holdings over time.
In summary, the asset composition experienced shifts characterized by a temporary surge in liquidity and current asset holdings during mid-2020, followed by a gradual move towards a greater emphasis on long-term assets, particularly goodwill and intangible assets, in later years. Concurrently, tangible assets like property and equipment decreased proportionally, while inventory levels showed volatility likely influenced by external factors affecting inventory management.