The Home Depot, Inc. (HD)财务
NYSE · Consumer Cyclical · Home Improvement · 员工472,400人 · CEO Edward Decker
- 股价
- $329.20 +0.07%
- 市值
- $3280亿
- 企业价值
- $3890亿
- 最近财报
- Q2 '26 2026-08-25提交
- 下次财报
- 2026-11-17 EPS预期 $3.83
营收(TTM)$1690亿+2.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)12.4%-0.7 百分点 对比去年同期营业利润 $210亿
净利润(TTM)$142亿-2.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)$151亿+6.1% 对比去年同期资本支出 $36.8亿
稀释EPS(TTM)$14.29-2.9% 对比去年同期最近4个季度之和
净现金-$605亿-3.4% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $3280亿 EV $3890亿
- 营收
- $1690亿 过去12个月
- 营收增速
- +4% FY2027年一致预期
- 净利润率
- 8.4% 净利润 / 营收,TTM
- P/E
- 23.0× 预期 22.0×(FY2027)
- P/S
- 1.9× 股价 / 营收,TTM
- EV / EBITDA
- 15.3× TTM
- 自由现金流
- $151亿 过去12个月
- 净利润
- $142亿 过去12个月
- 营收预期
- $1720亿 FY2027年一致预期
- 盈利
- 2026-11-17 营收预期 $428亿
- 股息
- $9.29 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-18):营收超预期1.3%,EPS 超预期4.0%营收$479亿,预期$472亿(+1.3%);EPS $4.92,预期$4.73(+4.0%)。
- 营收增长加速:同比5.7%Q2 '26营收$479亿,此前四个季度的平均值为2.2%。
- 营业利润率12.4%(TTM),较去年同期-0.7 百分点营收增长2.5%,营业利润增长-2.7%。
- 税前利润的12.1%被营业外亏损吞噬税前利润$187亿,营业利润$210亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的2.2%(去年为2.2%)最近4个季度投入$36.8亿(同比+1.0%)。自由现金流$151亿,相当于净利润的106.1%。
- 股东回报$92.2亿 = 自由现金流的61.1%回购$0(去年为$0),股息$92.2亿,股权激励$5.6亿(TTM)。
- 稀释股数一年内增加0.2%Q2 '26稀释股数9.96亿,一年前为9.94亿。
- 净债务 $605亿现金 + 短期投资 $20.9亿,含租赁债务 $626亿;一年前净债务 $585亿。
- All other segments:营收+62.0%,利润率4.9%(此前为6.4%)Q2 '26增长最快的披露分部:营收$50.6亿,营业利润$2.47亿(来自财报的分部附注)。
上一季度:Q2 '26
截至2026-08-02的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $479亿 | $453亿 | +5.7% |
| 毛利率 | 33.7% | 33.4% | +0.3 百分点 |
| 营业利润 | $68.4亿 | $65.6亿 | +4.3% |
| 营业利润率 | 14.3% | 14.5% | -0.2 百分点 |
| 净利润 | $47.7亿 | $45.5亿 | +4.7% |
| 稀释EPS | $4.79 | $4.58 | +4.6% |
| 经营现金流 | $53.9亿 | $46.4亿 | +16.1% |
| 资本支出 | $8.8亿 | $9.17亿 | -4.0% |
| 自由现金流 | $45.1亿 | $37.3亿 | +21.1% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $1.48亿 | $1.18亿 | +25.4% |
实际 vs 一致预期
2026-08-18| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $479亿 | $472亿 | +1.3% |
| EPS(一致预期口径) | $4.92 | $4.73 | +4.0% |
来自2026-08-18发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Major Product Line - Hardlines | $144亿 | +2.2% | 30.2% | – | – | |
| Major Product Line - Building Materials | $144亿 | +1.8% | 30.2% | – | – | |
| Major Product Line, Décor | $139亿 | +0.5% | 29.1% | – | – | |
| Other Segment | $50.6亿 | +62.0% | 10.6% | – | – |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $439亿 | +5.2% | 91.7% | – | – | |
| Non-US | $39.5亿 | +11.4% | 8.3% | – | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q2 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Primary Segment | $428亿 | +1.5% | $65.9亿 | +3.7% | 15.4% | 15.1% | $207亿 |
| All other segments | $50.6亿 | +62.0% | $2.47亿 | +22.9% | 4.9% | 6.4% | $2.91亿 |
| Other Segment | – | – | – | – | – | – | – |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $188亿
- 资本支出
- -$36.8亿
- 股票回购
- $0
- 股息
- -$92.2亿
- 收购
- -$65.1亿
- 债务净发行
- -$4.29亿
- 股权激励费用
- $5.6亿
- 自由现金流
- $151亿
- 股东回报 / FCF
- 61.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 23.0× | 23.9× | 18.8× – 27.3× |
| EV / EBITDA | 15.3× | 16.4× | 13.6× – 18.3× |
| EV / 营收 | 2.3× | 2.7× | 2.3× – 2.9× |
| 股价 / FCF | 21.7× | 26.0× | 19.8× – 29.7× |
| 股价 / 净资产 | 19.7× | 159.1× 5年中的4年 | 29.3× – 340.4× |
| FCF收益率 | 4.6% | 3.9% | 3.4% – 5.1% |
| 投入资本回报率 | 18.8% | 28.0% | 19.0% – 36.7% |
| 净资产收益率 | 102.7% | 382.0% | -968.9% – 1,450.5% |
分析师
一致目标价 $378.64 (+15.0%)
区间 $322.00 – $425.00 · 评级 Buy
强烈买入1
买入36
持有22
卖出4
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $1720亿 | +4.2% | $15.00 | +5.4% | 22.0× | 21 |
| FY2028 | $1770亿 | +3.4% | $15.91 | +6.1% | 20.7× | 21 |
| FY2029 | $1850亿 | +4.1% | $17.25 | +8.4% | 19.1× | 9 |
| FY2030 | $1910亿 | +3.6% | $18.48 | +7.1% | 17.8× | 3 |
| FY2031 | $1950亿 | +2.1% | $19.57 | +5.9% | 16.8× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
The Home Depot, Inc.在近期10-Q / 10-K文件中标记的全部234项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $136亿 | $131亿 | +3.8% | $115亿 | $119亿 | -3.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $69.6亿 | $58.8亿 | +18.5% | $56亿 | $49亿 | +14.2% |
| Accrued Income Taxes, Current | $2.53亿 | $3700万 | +583.8% | $1.14亿 | $8.32亿 | -86.3% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $329亿 | $306亿 | +7.5% | $206亿2019-02-03 | $193亿 | +6.3% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | $5.01亿2026-02-01 | $9.7亿 | -48.4% | $5.01亿 | $9.7亿 | -48.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$6.88亿 | -$8.35亿 | +17.6% | -$6.52亿 | -$11.3亿 | +42.2% |
| Additional Paid in Capital, Common Stock | $152亿 | $144亿 | +5.5% | $148亿 | $141亿 | +4.9% |
| Advertising Expense | – | – | – | $13亿 | $12亿 | +8.3% |
| Amortization of Intangible Assets | $1.78亿 | $1.39亿 | +28.1% | $6.07亿 | $4.25亿 | +42.8% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 200万 | 100万 | +100.0% | 0 | 0 | – |
| Asset Impairment Charges | – | – | – | $0 | $0 | – |
| Assets | $1090亿 | $1000亿 | +9.3% | $1050亿 | $961亿 | +9.3% |
| Assets, Current | $377亿 | $354亿 | +6.6% | $344亿 | $317亿 | +8.5% |
| Cash and Cash Equivalents, at Carrying Value | $20.9亿 | $28亿 | -25.6% | $13.9亿 | $16.6亿 | -16.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $20.9亿 | $28亿 | -25.6% | $13.9亿 | $16.6亿 | -16.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | $5亿 | $14.6亿 | -65.7% | -$3.69亿 | -$19.2亿 | +80.7% |
| Commercial Paper | $42.5亿 | $0 | – | $44.6亿 | $3.16亿 | +1,312.7% |
| Common Stock, Dividends, Per Share, Cash Paid | $2.33 | $2.30 | +1.3% | $9.20 | $9.00 | +2.2% |
| Common Stock, Par or Stated Value Per Share | $0.05 | $0.05 | 0.0% | $0.05 | $0.05 | 0.0% |
| Common Stock, Shares Authorized | 100亿 | 100亿 | 0.0% | 100亿 | 100亿 | 0.0% |
| Common Stock, Shares, Issued | 18亿 | 18亿 | +0.2% | 18亿 | 18亿 | +0.1% |
| Common Stock, Shares, Outstanding | 9.98亿 | 9.95亿 | +0.3% | 9.96亿 | 9.94亿 | +0.2% |
| Common Stock, Value, Outstanding | $9000万 | $9000万 | 0.0% | $9000万 | $9000万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $47.4亿 | $47.2亿 | +0.4% | $146亿 | $142亿 | +3.4% |
| Contract with Customer, Liability, Current | $17亿 | $16亿 | +6.3% | $15亿 | $15亿 | 0.0% |
| Cost of Revenue | $317亿 | $302亿 | +5.3% | $1100亿 | $1060亿 | +3.4% |
| Cost, Depreciation and Amortization | $11亿 | $9.88亿 | +10.8% | $40.6亿 | $37.1亿 | +9.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | $28.1亿 | $34.2亿 | -17.7% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $4.14亿 | $3.86亿 | +7.3% |
| Current Income Tax Expense (Benefit) | – | – | – | $39.5亿 | $46.4亿 | -14.8% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $7.25亿 | $8.36亿 | -13.3% |
| Debt and Lease Obligation | $513亿2026-02-01 | $531亿 | -3.3% | $513亿 | $531亿 | -3.3% |
| Debt Instrument, Face Amount | $488亿2026-02-01 | $511亿 | -4.4% | $488亿 | $511亿 | -4.4% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $5.03亿 | -$6700万 | +850.7% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$5400万 | $300万 | -1,900.0% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $4.95亿 | -$3900万 | +1,369.2% |
| Deferred Income Tax Liabilities, Net | $28.5亿 | $24.9亿 | +14.4% | $28.5亿 | $19.6亿 | +45.0% |
| Deferred Revenue, Current | $27.3亿 | $26.1亿 | +4.7% | $25.8亿 | $26.1亿 | -1.3% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $4600万 | $2500万 | +84.0% |
| Deferred Tax Assets, Deferred Income | $2.65亿2026-02-01 | $2.59亿 | +2.3% | $2.65亿 | $2.59亿 | +2.3% |
| Deferred Tax Assets, Gross | $39.2亿2026-02-01 | $37.9亿 | +3.3% | $39.2亿 | $37.9亿 | +3.3% |
| Deferred Tax Assets, Net of Valuation Allowance | $39.1亿2026-02-01 | $37.9亿 | +3.2% | $39.1亿 | $37.9亿 | +3.2% |
| Deferred Tax Assets, Operating Loss Carryforwards | $9500万2026-02-01 | $9200万 | +3.3% | $9500万 | $9200万 | +3.3% |
| Deferred Tax Assets, Other | $7900万2026-02-01 | $7700万 | +2.6% | $7900万 | $7700万 | +2.6% |
| Deferred Tax Assets, State Taxes | $1.18亿2026-02-01 | $1.33亿 | -11.3% | $1.18亿 | $1.33亿 | -11.3% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | $2.89亿2026-02-01 | $2.3亿 | +25.7% | $2.89亿 | $2.3亿 | +25.7% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Other | $4.5亿2026-02-01 | $4.75亿 | -5.3% | $4.5亿 | $4.75亿 | -5.3% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Self Insurance | $2.62亿2026-02-01 | $2.71亿 | -3.3% | $2.62亿 | $2.71亿 | -3.3% |
| Deferred Tax Assets, Valuation Allowance | $600万2026-02-01 | $400万 | +50.0% | $600万 | $400万 | +50.0% |
| Deferred Tax Liabilities, Goodwill and Intangible Assets | $24.4亿2026-02-01 | $22亿 | +10.8% | $24.4亿 | $22亿 | +10.8% |
| Deferred Tax Liabilities, Gross | $64.6亿2026-02-01 | $54.8亿 | +17.9% | $64.6亿 | $54.8亿 | +17.9% |
| Deferred Tax Liabilities, Inventory | $2600万2026-02-01 | $1200万 | +116.7% | $2600万 | $1200万 | +116.7% |
| Deferred Tax Liabilities, Leasing Arrangements | $22.8亿2026-02-01 | $21.8亿 | +4.5% | $22.8亿 | $21.8亿 | +4.5% |
| Deferred Tax Liabilities, Net | $25.5亿2026-02-01 | $16.9亿 | +50.8% | $25.5亿 | $16.9亿 | +50.8% |
| Deferred Tax Liabilities, Other | $1.67亿2026-02-01 | $1.83亿 | -8.7% | $1.67亿 | $1.83亿 | -8.7% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $15.1亿2026-02-01 | $8.54亿 | +77.3% | $15.1亿 | $8.54亿 | +77.3% |
| Deferred Tax Liabilities, Undistributed Foreign Earnings | $4200万2026-02-01 | $5400万 | -22.2% | $4200万 | $5400万 | -22.2% |
| Defined Contribution Plan, Cost | – | – | – | $3.82亿 | $3.47亿 | +10.1% |
| Depreciation, Depletion and Amortization | $9.29亿 | $8.65亿 | +7.4% | $35.1亿 | $33.4亿 | +5.3% |
| Depreciation, Depletion and Amortization, Nonproduction | $8.52亿 | $8.06亿 | +5.7% | $32.7亿 | $30.3亿 | +7.9% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-08-02, 10-Q 2026-05-03, 10-K 2026-02-01, 10-Q 2025-11-02, 10-Q 2025-08-03, 10-Q 2025-05-04, 10-K 2025-02-02, 10-Q 2024-10-27, 10-Q 2024-07-28
数据截至 2026-11-01