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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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Current Ratio since 2005
- Debt to Equity since 2005
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Home Depot Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2026-02-01), 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).
The financial information reveals fluctuating cash flows over the analyzed period, spanning from May 2020 to February 2026. Operating activities generally provide a positive cash flow, though with considerable variation. Investing activities consistently represent a cash outflow, primarily driven by capital expenditures and, at times, significant acquisitions. Financing activities demonstrate a more complex pattern, alternating between providing and using cash, heavily influenced by debt management and stock repurchase programs.
- Net Earnings
- Net earnings exhibit substantial volatility. A peak is observed in August 2020 at US$4.332 billion, followed by declines and subsequent increases. While generally positive, earnings decreased significantly in the latter half of the observed period, reaching US$2.571 billion in January 2026. This suggests potential cyclicality or changing market conditions impacting profitability.
- Operating Activities
- Net cash provided by operating activities is generally positive, but displays significant quarterly fluctuations. The highest cash flow from operations occurred in May 2020 (US$5.737 billion) and May 2021 (US$6.310 billion). A notable decrease is observed in the period ending February 2026 (US$4.010 billion). Changes in working capital components, particularly receivables and inventories, appear to be major drivers of these fluctuations. Specifically, large swings in merchandise inventories and receivables significantly impact operating cash flow.
- Investing Activities
- Investing activities consistently consume cash. Capital expenditures represent a significant and ongoing outflow, ranging from approximately US$518 million to US$1.101 billion per quarter. A substantial cash outflow of US$7.780 billion was recorded in May 2021, attributed to payments for businesses acquired. While other investing activities are present, they are comparatively small. The consistent negative cash flow from investing suggests ongoing investment in the business, including expansion and acquisitions.
- Financing Activities
- Financing activities demonstrate a complex pattern. Significant cash inflows are observed from proceeds from long-term debt, particularly in May 2022 (US$9.952 billion) and February 2026 (US$2.035 billion). However, these are often offset by substantial cash outflows from repurchases of common stock and cash dividends. The repurchase of common stock is a consistent outflow, peaking at US$18.268 billion in July 2024. Cash dividends remain relatively stable as a cash outflow throughout the period. Overall, the net cash flow from financing activities varies considerably, indicating active management of capital structure and shareholder returns.
- Working Capital
- Changes in working capital components have a pronounced effect on operating cash flow. Large fluctuations in receivables, inventories, and accounts payable are evident. For example, a significant increase in receivables in July 2023 (US$1,112 million) and a substantial decrease in accounts payable in October 2022 (US$-2,647 million) both contribute to volatility in operating cash flow. These fluctuations suggest potential shifts in sales terms, inventory management practices, or supplier payment arrangements.
- Non-Recurring Items
- The presence of a large negative cash outflow related to payments for businesses acquired in May 2021 (US$7.780 billion) and a substantial outflow related to stock repurchases in July 2024 (US$17.570 billion) indicates significant, non-recurring events impacting cash flow during those periods. These events should be considered when evaluating the overall financial health and strategic direction of the company.
In summary, the company generates positive cash flow from operations, but this is subject to considerable quarterly variation. Investing activities consistently require cash, while financing activities are used to manage debt, return capital to shareholders, and fund acquisitions. Fluctuations in working capital components significantly influence operating cash flow, and large, infrequent events such as acquisitions and stock repurchases have a material impact on overall cash flow patterns.