The Home Depot Announces Fourth Quarter and Fiscal 2025 Results

ATLANTA, Feb. 24, 2026 /PRNewswire/ -- The Home Depot^®, the world's largest home improvement retailer, today reported fourth quarter and fiscal 2025 results.

Fourth Quarter 2025

Sales for the fourth quarter of fiscal 2025 were $38.2 billion, a decrease of $1.5 billion, or 3.8% from the fourth quarter of fiscal 2024. The fourth quarter of fiscal 2025 consisted of 13 weeks compared with 14 weeks for the prior year. The 14^th week in fiscal 2024 added approximately $2.5 billion of sales to the fourth quarter and the year.

Comparable sales for the fourth quarter of fiscal 2025 increased 0.4%, and comparable sales in the U.S. increased 0.3%.

Net earnings for the fourth quarter of fiscal 2025 were $2.6 billion, or $2.58 per diluted share, compared with net earnings of $3.0 billion, or $3.02 per diluted share, in the same period of fiscal 2024. The 14^th week in fiscal 2024 added approximately $0.30 to diluted earnings per share to the fourth quarter and the year.

Adjusted⁽¹⁾ diluted earnings per share for the fourth quarter of fiscal 2025 were $2.72, compared with adjusted diluted earnings per share of $3.13 in the same period of fiscal 2024. The 14^th week in fiscal 2024 added approximately $0.30 to adjusted diluted earnings per share to the fourth quarter and the year.

Fiscal 2025

Sales for fiscal 2025 were $164.7 billion, an increase of $5.2 billion, or 3.2% from fiscal 2024. Comparable sales for fiscal 2025 increased 0.3%, and comparable sales in the U.S. increased 0.5%.

Net earnings for fiscal 2025 were $14.2 billion, or $14.23 per diluted share, compared with net earnings of $14.8 billion, or $14.91 per diluted share in fiscal 2024.

Adjusted⁽¹⁾ diluted earnings per share for fiscal 2025 were $14.69, compared with adjusted diluted earnings per share of $15.24 in fiscal 2024.

"Throughout fiscal 2025, our teams did an incredible job engaging with our customers and growing market share, and I would like to thank them for their hard work and dedication," said Ted Decker, chair, president and CEO. "For the fourth quarter, our results were largely in-line with our expectations, reflecting the lack of storm activity in the third quarter and ongoing consumer uncertainty and pressure in housing. Adjusting for storms, underlying demand was relatively stable throughout the year."

Dividend Declaration

The Company today announced that its board of directors approved a 1.3% increase in its quarterly dividend to $2.33 per share, which equates to an annual dividend of $9.32 per share.

The dividend is payable on March 26, 2026, to shareholders of record at the close of business on March 12, 2026. This is the 156^th consecutive quarter the Company has paid a cash dividend.

Fiscal 2026 Guidance
The company provides the following guidance for fiscal 2026:  

• Total sales growth of approximately 2.5% to 4.5%
• Comparable sales growth of approximately flat to 2.0%
• Approximately 15 new stores
• Gross margin of approximately 33.1%
• Operating margin of approximately 12.4% to 12.6%
• Adjusted⁽¹⁾ operating margin of approximately 12.8% to 13.0%
• Effective tax rate of approximately 24.3%
• Net interest expense of approximately $2.3 billion
• Diluted earnings-per-share to grow approximately flat to 4.0% from $14.23 in fiscal 2025
• Adjusted⁽¹⁾ diluted earnings-per-share to grow approximately flat to 4.0% from $14.69 in fiscal 2025
• Capital expenditures of approximately 2.5% of total sales

(1) The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). As used in this earnings release, adjusted operating income, adjusted operating margin, and adjusted diluted earnings per share are non-GAAP financial measures. Refer to the end of this release for an explanation of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures. 

The Home Depot will conduct a conference call today at 9 a.m. ET to discuss information included in this news release and related matters. The conference call will be available in its entirety through a webcast and replay at ir.homedepot.com/events-and-presentations. 

At the end of the fourth quarter, the company operated a total of 2,359 retail stores and over 1,250 SRS locations across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs over 470,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.

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