Return on Assets (ROA)
since 2005
Calculation
Home Depot Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net earnings1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Feb 1, 2026 | 13.47% | = | 100 | × | 14,156) | ÷ | 105,095) |
| Feb 2, 2025 | 15.40% | = | 100 | × | 14,806) | ÷ | 96,119) |
| Jan 28, 2024 | 19.79% | = | 100 | × | 15,143) | ÷ | 76,530) |
| Jan 29, 2023 | 22.38% | = | 100 | × | 17,105) | ÷ | 76,445) |
| Jan 30, 2022 | 22.86% | = | 100 | × | 16,433) | ÷ | 71,876) |
| Jan 31, 2021 | 18.23% | = | 100 | × | 12,866) | ÷ | 70,581) |
| Feb 2, 2020 | 21.94% | = | 100 | × | 11,242) | ÷ | 51,236) |
| Feb 3, 2019 | 25.27% | = | 100 | × | 11,121) | ÷ | 44,003) |
| Jan 28, 2018 | 19.38% | = | 100 | × | 8,630) | ÷ | 44,529) |
| Jan 29, 2017 | 18.52% | = | 100 | × | 7,957) | ÷ | 42,966) |
| Jan 31, 2016 | 16.47% | = | 100 | × | 7,009) | ÷ | 42,549) |
| Feb 1, 2015 | 15.88% | = | 100 | × | 6,345) | ÷ | 39,946) |
| Feb 2, 2014 | 13.29% | = | 100 | × | 5,385) | ÷ | 40,518) |
| Feb 3, 2013 | 11.04% | = | 100 | × | 4,535) | ÷ | 41,084) |
| Jan 29, 2012 | 9.58% | = | 100 | × | 3,883) | ÷ | 40,518) |
| Jan 30, 2011 | 8.32% | = | 100 | × | 3,338) | ÷ | 40,125) |
| Jan 31, 2010 | 6.51% | = | 100 | × | 2,661) | ÷ | 40,877) |
| Feb 1, 2009 | 5.49% | = | 100 | × | 2,260) | ÷ | 41,164) |
| Feb 3, 2008 | 9.92% | = | 100 | × | 4,395) | ÷ | 44,324) |
| Jan 28, 2007 | 11.02% | = | 100 | × | 5,761) | ÷ | 52,263) |
| Jan 29, 2006 | 13.12% | = | 100 | × | 5,838) | ÷ | 44,482) |
| Jan 30, 2005 | 12.85% | = | 100 | × | 5,001) | ÷ | 38,907) |
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), 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
The return on assets (ROA) exhibited a generally increasing trend over the period examined, although with notable fluctuations. Initial values demonstrated strong profitability, followed by a period of decline, and then a resurgence culminating in peak performance before a recent moderation.
- Initial Performance (2005-2009)
- From 2005 to 2007, the ROA remained relatively high, fluctuating between 11.02% and 13.12%. A decline was then observed in 2008 and a more significant drop in 2009, reaching a low of 5.49%. This decrease coincided with a reduction in net earnings and total assets.
- Recovery and Growth (2010-2017)
- Beginning in 2010, the ROA began a consistent upward trajectory. It increased from 6.51% to 18.52% by 2017. This growth was driven by increases in both net earnings and, to a lesser extent, total assets. The rate of increase accelerated in the latter part of this period.
- Peak and Recent Moderation (2018-2025)
- The ROA reached its highest point in 2018 at 19.38%, followed by a peak of 25.27% in 2019. While remaining strong in 2020 at 21.94%, the ROA subsequently decreased to 19.79% in 2022 and continued to decline to 13.47% in 2025. This recent moderation appears to be linked to a more substantial increase in total assets compared to the growth in net earnings. Total assets grew significantly, particularly between 2020 and 2025, while net earnings experienced more modest gains and even a decrease in 2023 and 2024.
Overall, the company demonstrated an ability to generate profit from its assets, with a significant improvement in efficiency over the long term. However, the most recent years suggest a potential shift, where asset growth is outpacing earnings growth, leading to a reduction in the ROA.
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Comparison to Competitors
Home Depot Inc., ROA, long-term trends, comparison to competitors
| Home Depot Inc. | Amazon.com Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|
| Feb 1, 2026 | 13.47% | — | — | — |
| Feb 2, 2025 | 15.40% | 9.49% | 16.14% | 15.32% |
| Jan 28, 2024 | 19.79% | 9.48% | 18.49% | 15.04% |
| Jan 29, 2023 | 22.38% | 5.76% | 14.73% | 12.34% |
| Jan 30, 2022 | 22.86% | -0.59% | 18.91% | 11.53% |
| Jan 31, 2021 | 18.23% | 7.93% | 12.49% | 0.29% |
| Feb 2, 2020 | 21.94% | 6.64% | 10.85% | 13.55% |
| Feb 3, 2019 | 25.27% | 5.14% | 6.71% | 21.36% |
| Jan 28, 2018 | 19.38% | 6.19% | 9.77% | 18.55% |
| Jan 29, 2017 | 18.52% | 2.31% | 8.99% | 17.84% |
| Jan 31, 2016 | 16.47% | 2.84% | 8.14% | 19.81% |
| Feb 1, 2015 | 15.88% | 0.91% | 8.48% | 19.91% |
| Feb 2, 2014 | 13.29% | -0.44% | 6.98% | 20.95% |
| Feb 3, 2013 | 11.04% | 0.68% | 6.00% | 20.05% |
| Jan 29, 2012 | 9.58% | -0.12% | 5.48% | 18.07% |
| Jan 30, 2011 | 8.32% | 2.50% | 5.96% | 16.85% |
| Jan 31, 2010 | 6.51% | 6.13% | 5.40% | 16.26% |
| Feb 1, 2009 | 5.49% | 6.53% | 6.72% | 14.25% |
| Feb 3, 2008 | 9.92% | 7.76% | 9.10% | 11.69% |
| Jan 28, 2007 | 11.02% | 7.34% | 11.18% | 12.13% |
| Jan 29, 2006 | 13.12% | 4.35% | 11.23% | 12.56% |
| Jan 30, 2005 | 12.85% | 9.71% | 10.26% | 13.09% |
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), 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 Sector (Consumer Discretionary Distribution & Retail)
Home Depot Inc., ROA, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Home Depot Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Feb 1, 2026 | 13.47% | — |
| Feb 2, 2025 | 15.40% | 10.55% |
| Jan 28, 2024 | 19.79% | 11.20% |
| Jan 29, 2023 | 22.38% | 8.50% |
| Jan 30, 2022 | 22.86% | 4.19% |
| Jan 31, 2021 | 18.23% | 9.17% |
| Feb 2, 2020 | 21.94% | 9.20% |
| Feb 3, 2019 | 25.27% | 8.83% |
| Jan 28, 2018 | 19.38% | 9.65% |
| Jan 29, 2017 | 18.52% | 7.39% |
| Jan 31, 2016 | 16.47% | 8.42% |
| Feb 1, 2015 | 15.88% | 7.99% |
| Feb 2, 2014 | 13.29% | 6.94% |
| Feb 3, 2013 | 11.04% | 7.03% |
| Jan 29, 2012 | 9.58% | 6.25% |
| Jan 30, 2011 | 8.32% | 6.84% |
| Jan 31, 2010 | 6.51% | 6.80% |
| Feb 1, 2009 | 5.49% | 6.65% |
| Feb 3, 2008 | 9.92% | 9.57% |
| Jan 28, 2007 | 11.02% | 10.89% |
| Jan 29, 2006 | 13.12% | 12.01% |
| Jan 30, 2005 | 12.85% | 11.90% |
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), 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)
Home Depot Inc., ROA, long-term trends, comparison to industry (consumer discretionary)
| Home Depot Inc. | Consumer Discretionary | |
|---|---|---|
| Feb 1, 2026 | 13.47% | — |
| Feb 2, 2025 | 15.40% | 6.71% |
| Jan 28, 2024 | 19.79% | 8.12% |
| Jan 29, 2023 | 22.38% | 7.57% |
| Jan 30, 2022 | 22.86% | 4.81% |
| Jan 31, 2021 | 18.23% | 7.99% |
| Feb 2, 2020 | 21.94% | 4.36% |
| Feb 3, 2019 | 25.27% | 5.57% |
| Jan 28, 2018 | 19.38% | 5.96% |
| Jan 29, 2017 | 18.52% | 4.05% |
| Jan 31, 2016 | 16.47% | 5.57% |
| Feb 1, 2015 | 15.88% | 6.25% |
| Feb 2, 2014 | 13.29% | 4.75% |
| Feb 3, 2013 | 11.04% | 5.52% |
| Jan 29, 2012 | 9.58% | 5.65% |
| Jan 30, 2011 | 8.32% | 9.48% |
| Jan 31, 2010 | 6.51% | 6.05% |
| Feb 1, 2009 | 5.49% | 4.67% |
| Feb 3, 2008 | 9.92% | 0.21% |
| Jan 28, 2007 | 11.02% | 2.85% |
| Jan 29, 2006 | 13.12% | 0.60% |
| Jan 30, 2005 | 12.85% | 3.80% |
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), 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).