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

0a3e5165854b8c9e6d692f769b9d09885ed0a5e5e776ebb641bcd5b029462a67

United States

Outside the U.S.

Total Revenue

5d92b7ce7a085d0a5ca2c155ff49e42587fd50a4e7851979f6b24af444b3b693

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

6db2eb2f6c142bb722bed8d4b59e944aba6e59fa8bbdda0402a5e28ed25834a4

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

Home Depot Inc (HD)

Financials