Filing Flows › Home Depot (HD) › Q1 FY27 › vs Q4 FY26
Home Depot (HD) Q1 FY27 vs Q4 FY26 (quarter over quarter)
Home Depot's revenue rose $3.6B (+9%) from $38.2B in Q4 FY26 to $41.8B in Q1 FY27. The biggest changes: Net sales – products +$3.5B (+10%); Net sales – services +$49.0M (+4%). Gross margin 33.0% against 32.6% (+0.4 pts).
Home Depot, Q1 FY27: revenue $41.8B (+5% year over year), operating margin 11.9%, net earnings $3.3B, operating cash flow $6.0B. The chart draws each line against Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 33.0% | 32.6% | +0.4 pts |
| Operating margin | 11.9% | 10.1% | +1.8 pts |
| Net margin | 7.9% | 6.7% | +1.1 pts |
| Free cash flow margin | 12.4% | 6.0% | +6.4 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Net sales – products | $40.4B | $36.9B | $3.5B | +10% |
| Net sales – services | $1.3B | $1.3B | $49.0M | +4% |
| Revenue | $41.8B | $38.2B | $3.6B | +9% |
| Gross profit | $13.8B | $12.5B | $1.3B | +11% |
| Cost of revenue | $28.0B | $25.7B | $2.3B | +9% |
| Operating profit | $5.0B | $3.8B | $1.1B | +29% |
| Operating expenses | $8.8B | $8.6B | $183M | +2% |
| Pre-tax earnings | $4.4B | $3.3B | $1.1B | +33% |
| Other expense, net | $604M | $551M | $53.0M | +10% |
| SG&A | $8.0B | $7.8B | $187M | +2% |
| Other operating costs | $841M | $845M | −$4.0M | -0.5% |
| Net earnings | $3.3B | $2.6B | $718M | +28% |
| Income tax | $1.1B | $727M | $361M | +50% |
| Depreciation & amortization | $910M | $908M | $2.0M | +0.2% |
| Share-based compensation | $178M | $114M | $64.0M | +56% |
| Working capital & other | $1.7B | −$246M | $1.9B | — |
| Operating cash flow | $6.0B | $3.3B | $2.7B | +80% |
| Free cash flow (OCF − capex) | $5.2B | $2.3B | $2.9B | +127% |
| Capital expenditures | $844M | $1.1B | −$214M | -20% |
Questions
How much did Home Depot's revenue grow quarter over quarter in Q1 FY27?
Home Depot's revenue rose $3.6B (+9%) from $38.2B in Q4 FY26 to $41.8B in Q1 FY27.
What drove Home Depot's revenue change in Q1 FY27?
Net sales – products +$3.5B (+10%); Net sales – services +$49.0M (+4%).