The Home Depot, Inc. (HD) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 6.03B | 3.35B | 4.01B | 4.64B | 4.33B | 4.67B | 4.23B | 5.41B | 5.5B | 4.73B | 4.23B | 6.59B | 5.61B | 4.59B | 2.84B | 3.39B | 3.79B | 3.19B | 3.44B | 3.64B |
| Operating CF Margin % | 14.44% | 8.76% | 9.7% | 10.25% | 10.85% | 11.76% | 10.53% | 12.53% | 15.09% | 13.61% | 11.23% | 15.36% | 15.07% | 12.82% | 7.3% | 7.75% | 9.74% | 8.92% | 9.34% | 8.85% |
| Operating CF Growth % | 39.47% | -28.35% | -5.27% | -14.16% | -21.32% | -1.31% | -0.02% | -17.93% | -2.08% | 3.03% | 49.14% | 94.25% | 48.17% | 44.24% | -17.45% | -6.71% | -39.95% | 123.67% | 32.99% | -60% |
| Net Income | 3.29B | 2.57B | 3.6B | 4.55B | 3.43B | 3B | 3.65B | 4.56B | 3.6B | 2.8B | 3.81B | 4.66B | 3.87B | 3.36B | 4.34B | 5.17B | 4.23B | 3.35B | 4.13B | 4.81B |
| Depreciation & Amortization | 1.08B | 1.08B | 1.04B | 1B | 994M | 1.01B | 995M | 920M | 837M | 832M | 827M | 795M | 793M | 759M | 743M | 746M | 727M | 734M | 714M | 711M |
| Stock-Based Compensation | 178M | 114M | 120M | 118M | 170M | 114M | 106M | 98M | 124M | 80M | 85M | 91M | 124M | 80M | 90M | 81M | 115M | 87M | 86M | 80M |
| Deferred Taxes | 65M | -61M | -11M | 490M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -51M | -44M | -203M | 43M | -29M |
| Other Non-Cash Items | 158M | 1.83B | 158M | -1.77B | -25M | 111M | 56M | -71M | 11M | 13M | 157M | 70M | 74M | 45M | 133M | 24M | 164M | 262M | 20M | 1M |
| Working Capital Changes | 1.26B | -2.18B | -902M | 247M | -247M | 440M | -572M | -99M | 925M | 1.01B | -645M | 976M | 750M | 348M | -2.47B | -2.58B | -1.4B | -1.05B | -1.55B | -1.93B |
| Change in Receivables | -1.03B | -1.13B | 1.13B | 985M | -985M | 842M | -277M | 404M | -795M | 672M | -46M | 401M | -893M | 423M | -17M | 194M | -489M | 98M | -212M | 319M |
| Change in Inventory | -1.44B | 1.97B | -1.97B | 2.2B | -2.2B | 368M | -897M | 1.24B | -1.45B | 2.01B | 380M | 2.21B | -457M | 918M | 261M | -783M | -3.23B | -1.53B | -1.68B | 328M |
| Change in Payables | 3.04B | -849M | 849M | -2.63B | 2.63B | -1.45B | 335M | -883M | 2.51B | -1.6B | -742M | -229M | 1.16B | -1.01B | -2.65B | -665M | 1.74B | 483M | 260M | -1.35B |
| Cash from Investing | -1.11B | -1.22B | -5.87B | -961M | -931M | -1.12B | -814M | -18.27B | -830M | -1.58B | -1.25B | -999M | -903M | -895M | -784M | -760M | -701M | -837M | -674M | -930M |
| Capital Expenditures | -844M | -1.06B | -898M | -917M | -806M | -1.1B | -818M | -719M | -847M | -858M | -671M | -792M | -905M | -903M | -769M | -743M | -704M | -829M | -695M | -518M |
| CapEx % of Revenue | 2.02% | 2.77% | 2.17% | 2.03% | 2.02% | 2.77% | 2.03% | 1.67% | 2.33% | 2.47% | 1.78% | 1.85% | 2.43% | 2.52% | 1.98% | 1.7% | 1.81% | 2.32% | 1.89% | 1.26% |
| Acquisitions | -286M | -162M | -5.01B | -77M | -156M | -31M | -43M | -17.57B | 0 | -719M | -580M | 0 | 0 | 0 | 0 | 0 | 0 | -5M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 21M | 5M | 40M | 33M | 31M | 13M | 47M | 21M | 17M | -4M | 5M | -207M | 2M | 8M | -15M | -17M | 3M | -3M | 21M | -412M |
| Cash from Financing | -4.71B | -2.48B | 746M | -2.22B | -3.76B | -3.33B | -3.48B | 10.26B | -4.15B | -1.52B | -3.66B | -4.08B | -6.19B | -3.45B | -749M | -4.22B | -2.58B | -5.01B | -2.27B | -4.76B |
| Debt Issued (Net) | -2.32B | -322M | 3.03B | -84M | -1.35B | -1.18B | -1.25B | 12.39B | -1.16B | 1.92B | -70M | -67M | -1.06B | -68M | 2.39B | -773M | 1.87B | 983M | 2.93B | -44M |
| Equity Issued (Net) | 33M | 129M | 22M | 152M | 11M | 164M | 21M | 148M | -587M | -1.49B | -1.49B | -1.91B | -2.87B | -1.44B | -1.17B | -1.52B | -2.3B | -4.29B | -3.45B | -2.96B |
| Dividends Paid | -2.32B | -2.29B | -2.29B | -2.29B | -2.29B | -2.23B | -2.23B | -2.23B | -2.23B | -2.08B | -2.09B | -2.1B | -2.12B | -1.93B | -1.95B | -1.95B | -1.96B | -1.72B | -1.74B | -1.75B |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -649M | -1.49B | -1.51B | -2.07B | -2.89B | -1.56B | -1.17B | -1.65B | -2.31B | -4.43B | -3.47B | -3.12B |
| Other Financing | -106M | 2M | -17M | -4M | -126M | -78M | -11M | -46M | -166M | 121M | -4M | -7M | -135M | -3M | -22M | 19M | -182M | 15M | -24M | -6M |
| Net Change in Cash | 212M | -295M | -1.12B | 1.44B | -290M | 128M | -82M | -2.65B | 504M | 1.7B | -756M | 1.55B | -1.5B | 295M | 1.2B | -1.58B | 501M | -2.72B | 501M | -2.08B |
| Free Cash Flow | 5.19B | 2.29B | 3.11B | 3.73B | 3.52B | 3.57B | 3.42B | 4.69B | 4.65B | 3.88B | 3.56B | 5.8B | 4.71B | 3.69B | 2.07B | 2.65B | 3.08B | 2.36B | 2.74B | 3.12B |
| FCF Margin % | 12.42% | 5.99% | 7.53% | 8.23% | 8.83% | 8.99% | 8.49% | 10.86% | 12.77% | 11.14% | 9.45% | 13.51% | 12.64% | 10.3% | 5.33% | 6.05% | 7.93% | 6.6% | 7.45% | 7.59% |
| FCF Growth % | 47.43% | -35.88% | -8.87% | -20.55% | -24.32% | -7.87% | -4.15% | -19.12% | -1.25% | 4.99% | 72.13% | 118.83% | 52.64% | 56.66% | -24.56% | -15.04% | -46.68% | 407.76% | 29.74% | -63.93% |
| FCF per Share | 5.21 | 2.30 | 3.13 | 3.75 | 3.54 | 3.59 | 3.44 | 4.73 | 4.69 | 3.90 | 3.57 | 5.78 | 4.65 | 3.63 | 2.02 | 2.59 | 2.98 | 2.26 | 2.61 | 2.94 |
| FCF Conversion (FCF/Net Income) | 1.83x | 1.30x | 1.11x | 1.02x | 1.26x | 1.56x | 1.16x | 1.19x | 1.53x | 1.69x | 1.11x | 1.41x | 1.45x | 1.37x | 0.65x | 0.66x | 0.90x | 0.95x | 0.83x | 0.76x |
| Interest Paid | 638M | -1.19B | 0 | 541M | 648M | 559M | 658M | 361M | 621M | 305M | 604M | 304M | 596M | 289M | 495M | 250M | 415M | 248M | 395M | 244M |
| Taxes Paid | 180M | -3.09B | 0 | 1.99B | 1.1B | -3.48B | 845M | 2.38B | 249M | 1.21B | 923M | 2.71B | 185M | 1.26B | 1.07B | 2.89B | 213M | 1.33B | 1.26B | 2.69B |