Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Total Asset Turnover since 2005
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Home Depot Inc., consolidated income statement (quarterly data)
US$ in millions
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).
- Net Sales
- Net sales exhibit general growth with cyclical fluctuations across quarters. Starting at 26.4 billion USD in Q2 2019, sales increased substantially to reach peaks around 45.3 billion USD by Q3 2025. Notable upward trends occur in the mid-2020 period and again from 2022 onward, indicating expanding revenues. There are occasional declines following peaks, suggesting seasonality or market volatility.
- Cost of Sales
- Cost of sales consistently moves in line with net sales, reflecting proportional increases. Starting at 17.4 billion USD in Q2 2019, it rises to approximately 30.2 billion USD by Q3 2025. The positive relationship between cost and sales implies stable gross margin management, though higher absolute costs in later periods point to increased operational scale or inflationary impacts.
- Gross Profit
- Gross profit shows a rising trend with some variance, tracking increases in sales. From 9.0 billion USD in Q2 2019, gross profit grows to peaks near 15.1 billion USD by Q3 2025. Margins appear relatively stable, indicated by gross profit growth roughly proportional to sales growth, despite occasional quarters of retreat which align with sales dips.
- Selling, General and Administrative Expenses (SG&A)
- SG&A expenses steadily increase over time, starting from around 4.9 billion USD in Q2 2019 and reaching about 7.8 billion USD in Q3 2025. The rising cost base suggests higher operating expenses to support growth, including potential investment in marketing, personnel, and infrastructure. However, SG&A growth is somewhat slower relative to sales, indicating some operating leverage.
- Depreciation and Amortization
- Depreciation and amortization expenses increase gradually over the period, from roughly 480 million USD to over 800 million USD by Q3 2025. This trend suggests ongoing capital investments leading to higher amortization charges, consistent with expansion in fixed assets or intangible asset amortization.
- Operating Expenses
- Operating expenses mirror the sum of SG&A and depreciation/amortization and escalate from approximately 5.4 billion USD in Q2 2019 to 8.6 billion USD in Q3 2025. The steady upward trajectory reflects scaling operational costs aligned with business growth.
- Operating Income
- Operating income fluctuates more widely, beginning around 3.6 billion USD in Q2 2019 and reaching up to approximately 7.2 billion USD in Q3 2022 before declining and rebounding in subsequent quarters. The variability is indicative of fluctuations in profitability margins, possibly influenced by variable costs, competitive pricing, or external economic factors.
- Interest Income and Expense, Net
- Interest income remains relatively low and stable, generally under 100 million USD. Interest expense gradually increases from approximately 288 million USD to about 814 million USD by Q3 2025, reflecting possibly increased borrowings or higher interest rates. Net interest and other income (expense) shows an increasing net cost trend, suggesting interest expenses impact earnings more than income.
- Earnings Before Provision for Income Taxes (EBT)
- EBT trends closely with operating income, starting at 3.3 billion USD and fluctuating with peaks near 6.8 billion USD in Q3 2022 before some decline and partial recovery reaching 6.0 billion USD by Q3 2025. This pattern shows overall positive earnings momentum with observable cyclicality.
- Provision for Income Taxes
- Tax provisions increase in nominal terms and display correlation with pre-tax earnings. From approximately 811 million USD in Q2 2019, the provision peaks above 1.6 billion USD in parts of 2022 before leveling around 1.4 billion USD by 2025. This reflects relatively stable tax rates amid fluctuating earnings.
- Net Earnings
- Net earnings generally rise from 2.5 billion USD in Q2 2019 to levels exceeding 5.1 billion USD in several quarters, peaking around Q3 2025. Earnings show clear cyclical variability but maintain an upward long-term trajectory. The positive earnings performance aligns with sales and operational growth despite periodic volatility in operating income and costs.