Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Home Depot Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
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Home Depot Inc., consolidated balance sheet: assets
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).
Total assets exhibited a generally increasing trend over the observed period, rising from US$70.581 billion in January 2021 to US$105.095 billion in February 2026. However, the rate of growth was not consistent, with a notable acceleration in the later years of the period.
- Current Assets
- Current assets demonstrated relative stability between January 2021 and January 2023, fluctuating around US$30 billion. A slight decrease was observed in January 2024, followed by a recovery and continued growth through February 2026, reaching US$34.391 billion. This growth was primarily driven by increases in receivables and merchandise inventories.
- Cash and Cash Equivalents
- Cash and cash equivalents experienced significant volatility. A substantial decrease occurred between January 2021 and January 2022, followed by modest increases in subsequent years. A considerable decline is then observed between January 2024 and February 2025, continuing into February 2026. This suggests a potential shift in liquidity management strategies or increased investment in other asset classes.
- Receivables, Net
- Receivables, net, showed a consistent upward trend throughout the period, increasing from US$2.992 billion in January 2021 to US$5.597 billion in February 2026. This indicates a potential increase in credit sales or a lengthening of the collection period.
- Merchandise Inventories
- Merchandise inventories increased significantly between January 2021 and January 2023, peaking at US$24.886 billion. A decrease was noted in January 2024, but inventories subsequently rebounded, reaching US$25.817 billion in February 2026. This pattern could reflect changes in supply chain management, seasonal demand fluctuations, or strategic inventory adjustments.
- Long-Term Assets
- Long-term assets exhibited a steady increase from January 2021 to January 2024, before experiencing substantial growth in the final two years of the period. This growth was largely attributable to increases in goodwill and intangible assets. The increase in long-term assets significantly contributed to the overall growth in total assets.
- Goodwill and Intangible Assets
- Goodwill and intangible assets experienced the most dramatic changes. While goodwill showed moderate growth between January 2021 and January 2023, both goodwill and intangible assets increased substantially between January 2024 and February 2026. This suggests potential acquisitions or significant investments in intangible assets, which have materially impacted the company’s asset base.
- Net Property and Equipment & Operating Lease Right-of-Use Assets
- Net property and equipment and operating lease right-of-use assets both demonstrated consistent, albeit moderate, growth throughout the period. These increases suggest ongoing investment in fixed assets and leased properties to support business operations.
In summary, the asset composition shifted over the period, with a notable increase in long-term assets, particularly goodwill and intangible assets, contributing to the overall growth in total assets. Fluctuations in cash and cash equivalents, alongside increases in receivables and merchandise inventories, also shaped the asset profile.