Filing Flows › Home Depot (HD) › Q2 FY27 › vs Q2 FY26
Home Depot (HD) Q2 FY27 vs Q2 FY26 (year over year)
Home Depot's revenue rose $2.6B (+6%) from $45.3B in Q2 FY26 to $47.9B in Q2 FY27. The biggest changes: Net sales – products +$2.6B (+6%); Net sales – services +$9.0M (+0.6%). Gross margin 33.7% against 33.4% (+0.3 pts).
Home Depot, Q2 FY27: revenue $47.9B (+6% year over year), operating margin 14.3%, net earnings $4.8B, operating cash flow $5.4B. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 33.7% | 33.4% | +0.3 pts |
| Operating margin | 14.3% | 14.5% | -0.2 pts |
| Net margin | 10.0% | 10.1% | -0.1 pts |
| Free cash flow margin | 9.4% | 8.2% | +1.2 pts |
Every line
| Line | Q2 FY27 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Net sales – products | $46.3B | $43.7B | $2.6B | +6% |
| Net sales – services | $1.6B | $1.6B | $9.0M | +0.6% |
| Revenue | $47.9B | $45.3B | $2.6B | +6% |
| Gross profit | $16.1B | $15.1B | $990M | +7% |
| Cost of revenue | $31.7B | $30.2B | $1.6B | +5% |
| Operating profit | $6.8B | $6.6B | $284M | +4% |
| Operating expenses | $9.3B | $8.6B | $706M | +8% |
| Pre-tax earnings | $6.3B | $6.0B | $310M | +5% |
| Other expense, net | $524M | $550M | −$26.0M | -5% |
| SG&A | $8.4B | $7.8B | $660M | +9% |
| Other operating costs | $852M | $806M | $46.0M | +6% |
| Net earnings | $4.8B | $4.6B | $215M | +5% |
| Income tax | $1.5B | $1.5B | $95.0M | +7% |
| Depreciation & amortization | $929M | $865M | $64.0M | +7% |
| Share-based compensation | $148M | $118M | $30.0M | +25% |
| Working capital & other | $453M | $891M | −$438M | -49% |
| Operating cash flow | $5.4B | $4.6B | $747M | +16% |
| Free cash flow (OCF − capex) | $4.5B | $3.7B | $784M | +21% |
| Capital expenditures | $880M | $917M | −$37.0M | -4% |
Questions
How much did Home Depot's revenue grow year over year in Q2 FY27?
Home Depot's revenue rose $2.6B (+6%) from $45.3B in Q2 FY26 to $47.9B in Q2 FY27.
What drove Home Depot's revenue change in Q2 FY27?
Net sales – products +$2.6B (+6%); Net sales – services +$9.0M (+0.6%).