Home Depot annual operating margin
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2025
Home Depot Operating Margin Growth & History (HD)
Home Depot's operating margin was 12.68% for fiscal 2025.
View full Home Depot company overviewHome Depot annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2026-02-01 | 12.68% | −0.81 pp |
| 2024 | 2025-02-02 | 13.49% | −0.71 pp |
| 2023 | 2024-01-28 | 14.21% | −1.07 pp |
| 2022 | 2023-01-29 | 15.27% | +0.03 pp |
| 2021 | 2022-01-30 | 15.24% | +1.41 pp |
| 2020 | 2021-01-31 | 13.84% | −0.54 pp |
| 2019 | 2020-02-02 | 14.37% | +0.02 pp |
| 2018 | 2019-02-03 | 14.35% | −0.20 pp |
| 2017 | 2018-01-28 | 14.55% | +0.36 pp |
| 2016 | 2017-01-29 | 14.19% | +0.89 pp |
| 2015 | 2016-01-31 | 13.30% | +0.71 pp |
| 2014 | 2015-02-01 | 12.59% | +0.96 pp |
| 2013 | 2014-02-02 | 11.63% | +1.24 pp |
| 2012 | 2013-02-03 | 10.39% | +0.93 pp |
| 2011 | 2012-01-29 | 9.46% | +0.88 pp |
| 2010 | 2011-01-30 | 8.59% | +1.33 pp |
| 2009 | 2010-01-31 | 7.26% | +1.14 pp |
| 2008 | 2009-02-01 | 6.11% | −3.25 pp |
| 2007 | 2008-02-03 | 9.36% | — |
Home Depot quarterly operating margin
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Q1.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q1 2026 | 2026-05-03 | 11.93% | −0.95 pp |
| Q4 2025 | 2026-02-01 | 10.08% | −1.24 pp |
| Q3 2025 | 2025-11-02 | 12.94% | −0.53 pp |
| Q2 2025 | 2025-08-03 | 14.48% | −0.66 pp |
| Q1 2025 | 2025-05-04 | 12.88% | −1.07 pp |
| Q4 2024 | 2025-02-02 | 11.32% | −0.59 pp |
| Q3 2024 | 2024-10-27 | 13.47% | −0.86 pp |
| Q2 2024 | 2024-07-28 | 15.13% | −0.22 pp |
| Q1 2024 | 2024-04-28 | 13.95% | −0.95 pp |
| Q4 2023 | 2024-01-28 | 11.91% | −1.35 pp |
| Q3 2023 | 2023-10-29 | 14.34% | −1.48 pp |
| Q2 2023 | 2023-07-30 | 15.35% | −1.11 pp |
| Q1 2023 | 2023-04-30 | 14.90% | −0.34 pp |
| Q4 2022 | 2023-01-29 | 13.26% | −0.25 pp |
| Q3 2022 | 2022-10-30 | 15.82% | +0.08 pp |
| Q2 2022 | 2022-07-31 | 16.46% | +0.32 pp |
| Q1 2022 | 2022-05-01 | 15.24% | −0.18 pp |
| Q4 2021 | 2022-01-30 | 13.51% | +0.85 pp |
| Q3 2021 | 2021-10-31 | 15.74% | +1.27 pp |
| Q2 2021 | 2021-08-01 | 16.15% | +0.20 pp |
| Q1 2021 | 2021-05-02 | 15.42% | +3.82 pp |
| Q4 2020 | 2021-01-31 | 12.66% | −0.54 pp |
| Q3 2020 | 2020-11-01 | 14.47% | −0.03 pp |
| Q2 2020 | 2020-08-02 | 15.94% | +0.07 pp |
| Q1 2020 | 2020-05-03 | 11.59% | −2.04 pp |
| Q4 2019 | 2020-02-02 | 13.20% | +0.45 pp |
| Q3 2019 | 2019-11-03 | 14.50% | −0.21 pp |
| Q2 2019 | 2019-08-04 | 15.88% | −0.21 pp |
| Q1 2019 | 2019-05-05 | 13.63% | +0.08 pp |
| Q4 2018 | 2019-02-03 | 12.75% | −0.60 pp |
| Q3 2018 | 2018-10-28 | 14.71% | +0.01 pp |
| Q2 2018 | 2018-07-29 | 16.09% | +0.21 pp |
| Q1 2018 | 2018-04-29 | 13.55% | −0.47 pp |
| Q4 2017 | 2018-01-28 | 13.35% | +0.17 pp |
| Q3 2017 | 2017-10-29 | 14.70% | +0.37 pp |
| Q2 2017 | 2017-07-30 | 15.88% | +0.38 pp |
| Q1 2017 | 2017-04-30 | 14.02% | +0.50 pp |
| Q4 2016 | 2017-01-29 | 13.18% | +1.03 pp |
| Q3 2016 | 2016-10-30 | 14.34% | +0.68 pp |
| Q2 2016 | 2016-07-31 | 15.50% | +0.81 pp |
| Q1 2016 | 2016-05-01 | 13.52% | +1.09 pp |
| Q4 2015 | 2016-01-31 | 12.15% | +0.72 pp |
| Q3 2015 | 2015-11-01 | 13.66% | +1.22 pp |
| Q2 2015 | 2015-08-02 | 14.69% | +0.21 pp |
| Q1 2015 | 2015-05-03 | 12.43% | +0.87 pp |
| Q4 2014 | 2015-02-01 | 11.43% | +1.48 pp |
| Q3 2014 | 2014-11-02 | 12.44% | +0.67 pp |
| Q2 2014 | 2014-08-03 | 14.48% | +1.08 pp |
| Q1 2014 | 2014-05-04 | 11.57% | +0.62 pp |
| Q4 2013 | 2014-02-02 | 9.95% | +0.36 pp |
| Q3 2013 | 2013-11-03 | 11.78% | +2.22 pp |
| Q2 2013 | 2013-08-04 | 13.40% | +0.91 pp |
| Q1 2013 | 2013-05-05 | 10.95% | +1.32 pp |
| Q4 2012 | 2013-02-03 | 9.59% | +1.29 pp |
| Q3 2012 | 2012-10-28 | 9.56% | +0.24 pp |
| Q2 2012 | 2012-07-29 | 12.49% | +1.15 pp |
| Q1 2012 | 2012-04-29 | 9.62% | +1.17 pp |
| Q4 2011 | 2012-01-29 | 8.31% | +1.45 pp |
| Q3 2011 | 2011-10-30 | 9.32% | +0.60 pp |
| Q2 2011 | 2011-07-31 | 11.34% | +0.78 pp |
| Q1 2011 | 2011-05-01 | 8.45% | +0.71 pp |
| Q4 2010 | 2011-01-30 | 6.86% | +1.87 pp |
| Q3 2010 | 2010-10-31 | 8.72% | +1.00 pp |
| Q2 2010 | 2010-08-01 | 10.56% | +0.94 pp |
| Q1 2010 | 2010-05-02 | 7.74% | +1.68 pp |
| Q4 2009 | 2010-01-31 | 4.99% | −2.45 pp |
| Q3 2009 | 2009-11-01 | 7.72% | −2.01 pp |
| Q2 2009 | 2009-08-02 | 9.61% | — |
| Q1 2009 | 2009-05-03 | 6.06% | — |
| Q3 2008 | 2008-11-02 | 7.44% | — |
| Q2 2008 | 2008-08-03 | 9.73% | — |
Home Depot operating margin trends
Over the last five reported fiscal years, Home Depot's operating margin decreased from 13.84% to 12.68%, a change of −1.15 percentage points. The latest reported quarter, Q1 2026, shows 11.93%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Home Depot filings at SEC.gov ↗