Filing Flows › Home Depot (HD) › Q4 FY25
Home Depot (HD) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Mar 21, 2025
Home Depot (HD) reported revenue of $39.7B for the fourth quarter fiscal 2025 (Q4 FY25), +14% from a year earlier and -1% from the quarter before. Operating margin was 11.3%, net earnings $3.0B (7.5% of revenue).
Home Depot, Q4 FY25: revenue $39.7B (+14% year over year), operating margin 11.3%, net earnings $3.0B, operating cash flow $4.7B. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $39.7B | -1% | +14% |
| Gross profit | $13.0B | -3% | +13% |
| Operating profit | $4.5B | -17% | +8% |
| Net earnings | $3.0B | -18% | +7% |
| Operating cash flow | $4.7B | +10% | -1% |
| Free cash flow | $3.6B | +5% | -8% |
What changed
Revenue was $39.7B in Q4 FY25, up 14% year over year and down 1% from the previous quarter. Net sales – products was the largest line at 96% of revenue.
Gross margin was 32.8%, down 0.3 points from a year earlier. Operating profit was $4.5B, a 11.3% margin (down 0.6 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, below the 12% margin then. Operating expenses grew 16% against revenue growth of 14%. The fastest-growing cost line was Other operating costs (+19%). Net earnings were $3.0B, up 7% year over year. The effective tax rate was 22.9%.
Operating cash flow was $4.7B (down 1% year over year), 156% of net earnings. Non-cash charges added back $0.86B of depreciation and amortization and $0.11B of share-based compensation. Working capital and other items added $0.70B. Capital expenditures of $1.1B left free cash flow of $3.6B.
Questions
What was Home Depot's revenue in the fourth quarter fiscal 2025?
Home Depot (HD) reported revenue of $39.7B for the fourth quarter fiscal 2025 (Q4 FY25), +14% from a year earlier and -1% from the quarter before.
Was Home Depot profitable in the fourth quarter fiscal 2025?
Operating profit was $4.5B (11.3% of revenue) and net earnings $3.0B.
Source: Home Depot 10-K on SEC EDGAR.