Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Home Depot Inc., EBITDA calculation

US$ in millions

12 months ended:	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Net earnings	15,143)	17,105)	16,433)	12,866)	11,242)	11,121)
Add: Income tax expense	4,781)	5,372)	5,304)	4,112)	3,473)	3,435)
Earnings before tax (EBT)	19,924)	22,477)	21,737)	16,978)	14,715)	14,556)
Add: Interest expense	1,943)	1,617)	1,347)	1,347)	1,201)	1,051)
Earnings before interest and tax (EBIT)	21,867)	24,094)	23,084)	18,325)	15,916)	15,607)
Add: Depreciation and amortization	3,247)	2,975)	2,862)	2,519)	2,296)	2,152)
Earnings before interest, tax, depreciation and amortization (EBITDA)	25,114)	27,069)	25,946)	20,844)	18,212)	17,759)

Based on: 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).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Home Depot Inc. EBITDA increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Home Depot Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	370,191)
Earnings before interest, tax, depreciation and amortization (EBITDA)	25,114)
Valuation Ratio
EV/EBITDA	14.74
Benchmarks
EV/EBITDA, Competitors¹
Amazon.com Inc.	20.98
Lowe’s Cos. Inc.	12.20
TJX Cos. Inc.	14.66
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail	18.71
EV/EBITDA, Industry
Consumer Discretionary	17.81

Based on: 10-K (reporting date: 2024-01-28).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Home Depot Inc., historical EV/EBITDA calculation, comparison to benchmarks

	Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020	Feb 3, 2019
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	415,936)	332,713)	365,367)	344,655)	224,695)	237,232)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	25,114)	27,069)	25,946)	20,844)	18,212)	17,759)
Valuation Ratio
EV/EBITDA³	16.56	12.29	14.08	16.53	12.34	13.36
Benchmarks
EV/EBITDA, Competitors⁴
Amazon.com Inc.	—	19.88	28.04	21.27	32.24	26.57
Lowe’s Cos. Inc.	13.26	11.98	12.43	14.41	8.98	18.22
TJX Cos. Inc.	15.33	15.36	13.00	65.35	10.33	12.61
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail	—	17.44	20.13	20.16	24.23	21.23
EV/EBITDA, Industry
Consumer Discretionary	—	17.80	20.04	21.99	30.91	17.35

Based on: 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).

¹ See details »

² See details »

³ 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= 415,936 ÷ 25,114 = 16.56

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Home Depot Inc. EV/EBITDA ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Home Depot Inc. (NYSE:HD)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical