Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- 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., consolidated cash flow 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 Earnings
- Net earnings exhibit considerable volatility across quarters but generally maintain a positive trend. Notable peaks appear around August 2020 and July 2022, indicating strong profitability during these periods. Earnings experienced declines in early 2024 and early 2025, suggesting some earnings challenges in recent quarters.
- Depreciation and Amortization (excluding intangible assets)
- This expense category shows a steady upward trend, increasing gradually from 547 million USD in May 2019 to approximately 865 million USD by August 2025, reflecting ongoing asset usage and capital expenditures.
- Intangible Asset Amortization
- Data are only available starting in 2023, showing values increasing from 88 million to around 139 million, indicating a rising burden from intangible assets amortization in more recent quarters.
- Stock-based Compensation Expense
- The expense displays a fluctuating pattern without a clear trend, with sharp increases in certain quarters, such as May 2021 and July 2022, suggesting adjustments in equity compensation practices or grant timings.
- Changes in Receivables, Net
- This item is highly variable, with large positive and negative changes indicating fluctuating cash impacts relating to accounts receivable. Noteworthy are significant negative changes in May 2019, May 2021, and more recently in August 2024 and May 2025, suggesting periods of increasing receivables that may impact cash flow.
- Changes in Merchandise Inventories
- Inventory changes demonstrate notable volatility, with significant decreases and increases reflecting shifts in inventory management or seasonal stock adjustments. Large declines in May 2021 and May 2022 contrast with sharp increases in July 2023 and August 2024, implying varying inventory strategies over time.
- Changes in Other Current Assets
- These changes oscillate, showing both positive and negative adjustments without a clear directional trend, indicating fluctuating balances in miscellaneous current assets.
- Changes in Accounts Payable and Accrued Expenses
- This category shows stark volatility with large swings between quarters. Significant positive spikes in May 2019, May 2020, and May 2021 suggest periods of delayed payments improving operating cash flows, while large negative swings in other quarters reflect accelerated payments.
- Changes in Deferred Revenue
- Deferred revenue fluctuations are moderate but generally inconsistent, with no persistent increasing or decreasing trend, implying stable but variable timing in revenue recognition.
- Changes in Income Taxes Payable
- Income tax payable changes are highly variable, with significant positive and negative fluctuations, reflecting the timing of tax payments and liabilities. Large positive values in May 2019, May 2021, and May 2023 contrast with substantial negative amounts in related quarters.
- Changes in Deferred Income Taxes
- Deferred tax changes show no consistent direction, mostly fluctuating around small values, indicating routine tax timing adjustments without major irregularities.
- Other Operating Activities
- These activities vary moderately and do not suggest a clear trend, pointing to irregular but relatively small operational cash impacts outside core cash movements.
- Changes in Assets and Liabilities, Net of Acquisition Effects
- This aggregate line reveals high volatility with large positive spikes in mid-2020 reflecting significant operational liquidity adjustments, and substantial declines in late 2021 and 2022, indicating considerable variance in working capital components or shifts in balance sheet management strategies.
- Reconciliation of Net Earnings to Net Cash Provided by Operating Activities
- The reconciliation line is volatile, reflecting the combined effects of non-cash expenses and working capital changes. Peak values occur during strong earning quarters such as August 2020, with some negative values suggesting cash flow pressures coinciding with weaker earnings periods.
- Net Cash Provided by Operating Activities
- Operating cash flow shows generally strong positive performance with peaks around August 2020 and July 2023, though intermittent declines occur, particularly from late 2021 through 2022 and in late 2024, likely reflecting temporary challenges in converting earnings to cash.
- Capital Expenditures
- Capital spending remains relatively stable, mostly ranging between 445 million to just over 1 billion USD per quarter. There is a slight upward drift in spending during 2022 and early 2023, indicating ongoing investment in property, plant, and equipment.
- Payments for Businesses Acquired, Net
- Acquisition-related outflows are sporadic and large, notably in late 2020 and in mid-2024, indicating significant corporate acquisitions or investments during these intervals.
- Other Investing Activities
- This category is small and fluctuating, indicating occasional minor investing cash movements without pronounced trends.
- Net Cash Used in Investing Activities
- Investing cash flows are consistently negative, reflecting steady investment outflows primarily driven by capital expenditures and acquisitions, with pronounced negative spikes correlating with major acquisitions in late 2020 and mid-2024.
- Proceeds from (Repayments of) Short-term Debt, Net
- This item exhibits irregular activity with occasional sizeable inflows and repayments. Recent years show limited activity, suggesting a possible shift away from reliance on short-term borrowing.
- Proceeds from Long-term Debt, Net
- Long-term debt issuance shows initial activity in 2019 and a resurgence in 2023 and 2024, with sizable inflows indicating debt financing to support operations or investments during these periods.
- Repayments of Long-term Debt
- Repayments occur regularly at modest levels relative to borrowings, showing a structured approach to debt amortization over the years.
- Repurchases of Common Stock
- Stock repurchase activity is significant but decreases over time, with frequent large buybacks until early 2023 and a notable absence of data beyond this, which could indicate a temporary halt or shift in capital allocation policy.
- Proceeds from Sales of Common Stock
- Proceeds from stock sales are typically modest and irregular, suggesting occasional equity issuance likely to support compensation plans or other financing needs.
- Cash Dividends
- Dividend payments steadily increase over the time series, reflecting a consistent policy of returning capital to shareholders with gradual quarterly growth indicating dividend hikes or share count increases.
- Other Financing Activities
- These activities fluctuate with minor impacts on financing cash flows and lack a clear long-term pattern.
- Net Cash Provided by (Used in) Financing Activities
- Financing cash flow is highly volatile with alternating periods of net outflows and inflows. Large positive spikes in mid-2024 reflect substantial financing actions, possibly linked to debt issuance or equity transactions, while negative periods indicate significant repayments, repurchases, or dividend payments dominating financing uses.
- Effect of Exchange Rate Changes on Cash and Cash Equivalents
- Currency effects on cash balances are minor and fluctuate modestly, indicating limited exposure or impact from foreign exchange movements.
- Change in Cash and Cash Equivalents
- Overall cash position changes demonstrate substantial variability, with large inflows especially in mid-2020 corresponding to pandemic-related market conditions, and several periods of declines, notably in early 2021 and late 2024, signaling cash usage or liquidity tightening at these times.