Adjustments for Non-Cash Items [USD, Millions]

Stock-Based Compensation [USD, Millions]

Changes in Working Capital [USD, Millions]

Capital Expenditures (CapEx) [USD, Millions]

Proceeds from / Repayments of Debt [USD, Millions]

Share Repurchases [USD, Millions]

Dividend Payments [USD, Millions]

Net Change in Cash [USD, Millions]

4520f97224dd5c7b5ed2df259d7f9adc5e4075c67a80a869a37e4dd228a61ebe

Total Revenue [USD, Millions]

Cost of Goods Sold (COGS) [USD, Millions]

Selling, General, and Administrative Expenses (SG&A) [USD, Millions]

Research and Development (R&D) [USD, Millions]

Depreciation and Amortization (D&A) [USD, Millions]

Interest Expense [USD, Millions]

Operating Income (EBIT) [USD, Millions]

Net Income [USD, Millions]

Earnings Per Share (EPS) - Basic [USD]

Earnings Per Share (EPS) - Diluted [USD]

46de7ae9b7abf6852b81ae8da8b4a4abddce430459f2d21cface08141f279777

8a0006fe297086a3c52c72dc760ab4219f47689ee74d37dfc3fdb362ea7e1276

96d54e9d3d6e91c2d80aaeabf331dd454d60e855c6f3ff819b65a56ff4261b73

United States

Outside the U.S.

Total Revenue

22b546c0da5fda08273f82266643d2d898e6ae65c5623f3619761525eab997cd

Number of new stores opened in the U.S. (count)

Total number of stores (count)

Number of stores in Canada and Mexico (count)

Inventory turnover ratio (times)

Sales per retail square foot (USD per square foot)

Return on invested capital (percentage)

Comparable sales percentage change (percentage)

Comparable customer transactions percentage change (percentage)

Comparable average ticket percentage change (percentage)

Customer transactions (millions)

Average ticket (USD)

Online sales as percentage of net sales (percentage)

e5e7a08fdb369513f2e99a587f90a0a0e89692fba119832dbe21fd153a52a3bf

The sharp increase in operating cash flow in FY 2024 was driven primarily by an improvement in working capital management, which included **lower inventory purchases** and **better timing of vendor payments** that shifted the working capital impact from **$(6,240) million in FY 2023** to a positive **$2,333 million in FY 2024**. This improvement more than offset a decrease in net earnings, and other factors such as increased depreciation and amortization also contributed to the overall rise in cash flow.  **[0000354950-24-000031_hd_exhibit991x1282024.htm:4]** **[0000354950-24-000062_hd-20240128.htm:61]** 

What drove the sharp increase in operating cash flow in FY 2024?

The documents do not provide any direct information about free cash flow or the factors that improved it noticeably in FY 2024. No details related to free cash flow improvements were mentioned in the available sources.  **[0000354950-23-000059_hd-20230129.htm:65]** **[0000354950-24-000062_hd-20240128.htm:69]** **[0000354950-24-000031_hd_exhibit991x1282024.htm:4]** 

What factors improved free cash flow so noticeably in FY 2024?

The dramatic swing in investing activities in Q2 2025 was primarily driven by the significant cash outflow associated with the acquisition of SRS Distribution. The company paid **$17.6 billion** (net of cash acquired) as the cash consideration, which was the main factor behind the sharp increase in net cash used in investing activities during the period.  **[0000354950-24-000201_hd-20240728.htm:9]** **[0000354950-24-000201_hd-20240728.htm:34]** 

Why did investing activities swing so dramatically in Q2 2025?

0fd09f8a60aea3357a00847c90ebe2a6f56b4ec406fb1e4bb0496b68e6f6042b

b3126d48f684ef6cfeb7ed8c3df48434edb2a8878de3c8da9a871c83b21bb2fd

Net Sales (USD, millions)

Cost of Sales (USD, millions)

Gross Profit (USD, millions)

Selling, General and Administrative Expenses (USD, millions)

Depreciation and Amortization (USD, millions)

Total Operating Expenses (USD, millions)

Operating Income (USD, millions)

Interest Income and Other, Net (USD, millions)

Interest Expense (USD, millions)

Interest and Other, Net (USD, millions)

Earnings Before Provision for Income Taxes (USD, millions)

Provision for Income Taxes (USD, millions)

Net Earnings (USD, millions)

Basic Earnings per Share (USD)

Diluted Earnings per Share (USD)

7591d9d43857d5a7d270791c5764e88c5c3dadfb88b7d67768d5e27465636470

b3c0bcca01316ae2fbd5b7fcdb7d3e35bfaa65a69e6d87899c05bfbaf2ddf037

Home Depot Inc (HD)

Financials