Filing Flows › Home Depot (HD) › Q2 FY26
Home Depot (HD) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Aug 26, 2025
Home Depot (HD) reported revenue of $45.3B for the second quarter fiscal 2026 (Q2 FY26), +5% from a year earlier and +14% from the quarter before. Operating margin was 14.5%, net earnings $4.6B (10.1% of revenue).
Home Depot, Q2 FY26: revenue $45.3B (+5% year over year), operating margin 14.5%, net earnings $4.6B, operating cash flow $4.6B. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $45.3B | +14% | +5% |
| Gross profit | $15.1B | +12% | +5% |
| Operating profit | $6.6B | +28% | +0.3% |
| Net earnings | $4.6B | +33% | -0.2% |
| Operating cash flow | $4.6B | +7% | -14% |
| Free cash flow | $3.7B | +6% | -21% |
What changed
Revenue was $45.3B in Q2 FY26, up 5% year over year and up 14% from the previous quarter. Products was the largest line at 97% of revenue. Products added $2.1B year over year (up 5%), 101% of the total change. Services declined 1%.
Gross margin was 33.4%, unchanged from a year earlier. Operating profit was $6.6B, a 14.5% margin (down 0.7 points year over year). Of the extra revenue versus a year earlier, 1% reached operating profit, below the 15% margin then. Operating expenses grew 9% against revenue growth of 5%. Net earnings were $4.6B, roughly flat year over year. The effective tax rate was 24.2%.
Operating cash flow was $4.6B (down 14% year over year), 102% of net earnings. Non-cash charges added back $0.86B of depreciation and amortization and $0.12B of share-based compensation. Working capital and other items used $0.89B. Capital expenditures of $0.92B left free cash flow of $3.7B.
Questions
What was Home Depot's revenue in the second quarter fiscal 2026?
Home Depot (HD) reported revenue of $45.3B for the second quarter fiscal 2026 (Q2 FY26), +5% from a year earlier and +14% from the quarter before.
Was Home Depot profitable in the second quarter fiscal 2026?
Operating profit was $6.6B (14.5% of revenue) and net earnings $4.6B.
Source: Home Depot 10-Q on SEC EDGAR.