Stock Analysis on Net

Home Depot Inc. (NYSE:HD)

$24.99

Debt to Equity
since 2005

Microsoft Excel

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Calculation

Home Depot Inc., debt to equity, long-term trends, calculation

Microsoft Excel

Based on: 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), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).

1 US$ in millions


Total Debt
The total debt exhibits a substantial upward trend over the analyzed period. Starting at US$2,159 million in 2005, it increased steadily with occasional acceleration phases. Notable jumps are visible between 2005 and 2007, followed by a more moderate increase through 2011. From 2013 onwards, a pronounced rise occurred, with debt almost doubling from US$14,724 million in 2013 to over US$29,202 million in 2019. The increase intensified further reaching a peak at US$53,383 million projected for 2025. This pattern suggests increasing leverage and borrowing over time.
Stockholders’ Equity (Deficit)
Stockholders’ equity underwent significant fluctuations characterized by an initial increase from US$24,158 million in 2005 to around US$26,909 million in 2006. Afterward, it declined steadily, reaching a markedly lower value of US$1,454 million by 2018 and even turning negative from 2019 to 2022, with the lowest deficit of US$-3,116 million in 2020. The equity rebounded slightly in the last years, recording positive values again from 2021 onwards, albeit at lower levels than the initial years. The trend points to erosion in net assets followed by a tentative recovery.
Debt to Equity Ratio
The debt to equity ratio highlights a sharp increase in financial leverage throughout the timeframe. Beginning with a very low ratio of 0.09 in 2005, the ratio rose steadily, reaching 1.84 by 2014. From there, it escalated dramatically with recorded peaks such as 18.59 in 2018 and 42.25 in 2023, indicating significantly higher borrowing relative to equity. Missing values limit some observations, but overall, the trend underscores increased reliance on debt financing amid shrinking equity levels during certain periods. The ratio indicates periods of heightened financial risk.

Comparison to Competitors


Comparison to Sector (Consumer Discretionary Distribution & Retail)

Home Depot Inc., debt to equity, long-term trends, comparison to sector (consumer discretionary distribution & retail)

Microsoft Excel

Based on: 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), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).


Comparison to Industry (Consumer Discretionary)