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Held by 1,478 of 2,417 reporting institutions (100th percentile) — extremely crowded.
Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 6 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HD | $328.2B | 23.1× | 15.4× | 2.0× | 3.2% | 33.3% | 8.6% | 110% | 22.8% | 2.0× | 1,478 |
| LOW | $116.2B | 17.5× | 12.6× | 1.4× | 3.1% | 33.5% | 7.7% | -67.1% | 22.3% | 3.1× | 899 |
| SHW | $79.7B | 32.2× | 24.4× | 3.4× | 2.1% | 48.8% | 10.9% | 55.9% | 17.0% | 2.8× | 535 |
| FAST | $60.3B | 48.2× | 32.8× | 7.3× | 8.7% | 45.0% | 15.3% | 31.9% | 30.9% | -0.1× | 462 |
| TSCO | $17.5B | 16.3× | 9.7× | 1.1× | 4.3% | 36.4% | 7.1% | 42.5% | 25.2% | 0.8× | 301 |
| BLDR | $6.8B | 16.2× | 8.0× | 0.5× | -7.4% | 30.4% | 2.9% | 10.0% | 4.9% | 3.1× | 119 |
| FND | $5.4B | 26.2× | 10.9× | 1.1× | 5.1% | 43.6% | 4.5% | 8.7% | 8.0% | 0.4× | 88 |
Peers = companies sharing HD's sector (Retail-Lumber & Other Building Materials Dealers) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 23%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $1.39B is below the $4.68B due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2026-02-01 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~4.9% on $49.40B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
The dividend takes 72% of free cash flow — sustainable but with limited headroom. Last year: $9.15B dividends + $0 buybacks = $9.15B returned on $12.65B FCF.
9 consecutive years of dividend increases · 14%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2024, FY2026, FY2027). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $328.98 today, the market must believe free cash flow compounds 6.7%/yr for a decade (off $15.64B on the 3-yr avg basis).
On the basis ($15.19B) the requirement is 7.0%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 6.7% is more optimistic than its 9-yr track record.
Default is 8.4% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 1.00B shares (market data) · net debt $48.01B
mean 8.2% · volatility σ 29% · implied rate exceeded in 3/9 yrs
Central path = implied 6.7%/yr growth; shaded band = ±1σ (29%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-10-29
How a revenue dollar becomes profit — FY2027
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2027 | FY2026 | FY2024 | FY2023 | FY2022 | FY2021 | FY2021 | FY2020 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $164.68B 100.0% | $159.51B 100.0% | $152.67B 100.0% | $157.40B 100.0% | $151.16B 100.0% | $132.11B 100.0% | $110.22B 100.0% | $108.20B 100.0% | $100.90B 100.0% | $94.59B 100.0% |
| Cost of Revenue | $109.82B 66.7% | $106.21B 66.6% | $101.71B 66.6% | $104.63B 66.5% | $100.33B 66.4% | $87.26B 66.0% | $72.65B 65.9% | $71.04B 65.7% | $66.55B 66.0% | $62.28B 65.8% |
| Gross Profit | $54.87B 33.3% | $53.31B 33.4% | $50.96B 33.4% | $52.78B 33.5% | $50.83B 33.6% | $44.85B 34.0% | $37.57B 34.1% | $37.16B 34.3% | $34.36B 34.0% | $32.31B 34.2% |
| Selling, General & Admin | $30.70B 18.6% | $28.75B 18.0% | $26.60B 17.4% | $26.28B 16.7% | $25.41B 16.8% | $24.45B 18.5% | $19.74B 17.9% | $19.51B 18.0% | $17.86B 17.7% | $17.13B 18.1% |
| Total Operating Expenses | $33.98B 20.6% | $31.78B 19.9% | $29.27B 19.2% | $28.74B 18.3% | $27.79B 18.4% | $26.57B 20.1% | $21.73B 19.7% | $21.63B 20.0% | $19.68B 19.5% | $18.89B 20.0% |
| Operating Income | $20.89B 12.7% | $21.53B 13.5% | $21.69B 14.2% | $24.04B 15.3% | $23.04B 15.2% | $18.28B 13.8% | $15.84B 14.4% | $15.53B 14.4% | $14.68B 14.5% | $13.43B 14.2% |
| Interest Expense | $2.41B 1.5% | $2.32B 1.5% | $1.94B 1.3% | $1.62B 1.0% | $1.35B 0.9% | $1.35B 1.0% | $1.20B 1.1% | $1.05B 1.0% | $1.06B 1.0% | $972.0M 1.0% |
| Other Income (Expense), net | -$2.29B -1.4% | -$2.12B -1.3% | -$1.76B -1.2% | -$1.56B -1.0% | -$1.30B -0.9% | -$1.30B -1.0% | -$1.13B -1.0% | -$974.0M -0.9% | -$983.0M -1.0% | -$936.0M -1.0% |
| Pretax Income | $18.60B 11.3% | $19.41B 12.2% | $19.92B 13.1% | $22.48B 14.3% | $21.74B 14.4% | $16.98B 12.9% | $14.71B 13.3% | $14.56B 13.5% | $13.70B 13.6% | $12.49B 13.2% |
| Income Tax Expense | $4.45B 2.7% | $4.60B 2.9% | $4.78B 3.1% | $5.37B 3.4% | $5.30B 3.5% | $4.11B 3.1% | $3.47B 3.2% | $3.44B 3.2% | $5.07B 5.0% | $4.53B 4.8% |
| Net Income | $14.16B 8.6% | $14.81B 9.3% | $15.14B 9.9% | $17.11B 10.9% | $16.43B 10.9% | $12.87B 9.7% | $11.24B 10.2% | $11.12B 10.3% | $8.63B 8.6% | $7.96B 8.4% |
| Per Share | ||||||||||
| EPS (Basic) | $14.26 | $14.96 | $15.16 | $16.74 | $15.59 | $11.98 | $10.29 | $9.78 | $7.33 | $6.47 |
| EPS (Diluted) | $14.23 | $14.91 | $15.11 | $16.69 | $15.53 | $11.94 | $10.25 | $9.73 | $7.29 | $6.45 |
| Weighted Avg Shares (Basic) | 993.0M | 990.0M | 999.0M | 1.02B | 1.05B | 1.07B | 1.09B | 1.14B | 1.18B | 1.23B |
| Weighted Avg Shares (Diluted) | 995.0M | 993.0M | 1.00B | 1.02B | 1.06B | 1.08B | 1.10B | 1.14B | 1.18B | 1.23B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-20 | Deaton John A. EVP - Supply Chain & Prod. Dev | Tax withholding | 344 | $299.98 | $103k |
| 2026-09-20 | Broggi Jordan EVP-Interconnected Retail | Tax withholding | 130 | $299.98 | $39k |
| 2026-09-20 | Scardino Kimberly R SVP-Finance, CAO & Controller | Tax withholding | 81 | $299.98 | $24k |
| 2026-09-20 | Brown Angie EVP & CIO |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 96 |
| $299.98 |
| $29k |
| 2026-09-20 | Mcphail Richard V EVP & CFO | Tax withholding | 554 | $299.98 | $166k |
| 2026-09-20 | Smith Stephanie EVP - Human Resources | Tax withholding | 130 | $299.98 | $39k |
| 2026-09-10 | Scardino Kimberly R SVP-Finance, CAO & Controller | Open-market sale | 675 | $305.95 | $207k |
| 2026-08-28 | Roseborough Teresa Wynn EVP, Gen. Counsel & Corp. Sec. | Open-market sale | 2,455 | $328.77 | $807k |
| 2026-08-26 | Rowe Michael F. EVP, Pro | Open-market sale | 710 | $336.76 | $239k |
| 2026-08-20 | Broggi Jordan EVP-Interconnected Retail | Grant | 1,494 | $0.00 | $0 |
| 2026-08-20 | Bastek William D EVP, Merchandising | Grant | 1,494 | $0.00 | $0 |
| 2026-08-20 | 4 co-filers EVP & CFO | Grant | 1,494 | $0.00 | $0 |
| 2026-08-19 | 4 co-filers EVP & CFO | Option exercise | 5,989 | $147.36 | $883k |
| 2026-08-19 | 4 co-filers EVP & CFO | Exercise & sell | 5,989 | $348.40 | $2.1m |
| 2026-08-19 | 4 co-filers EVP & CFO | Option exercise | 5,989 | $0.00 | — |
| 2026-05-28 | Rowe Michael F. EVP, Pro | Other | 714 | — | — |
| 2026-05-21 | Arpey Gerard J Director | Grant | 796 | $0.00 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 796 | $0.00 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 796 | $0.00 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 796 | $0.00 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 796 | $0.00 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 796 | $0.00 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 796 | $0.00 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 796 | $0.00 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 796 | $0.00 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 796 | $0.00 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 796 | $0.00 | $0 |
| 2026-05-21 | 2 co-filers Group filing | Grant | 446 | $313.78 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 191 | $313.78 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 191 | $313.78 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 191 | $313.78 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 287 | $313.78 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 191 | $313.78 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 271 | $313.78 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 271 | $313.78 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 191 | $313.78 | — |
| 2026-05-21 | 2 co-filers Group filing | Grant | 271 | $313.78 | — |
| 2026-05-20 | Bell Franziska EVP-Chief Technology Officer | Grant | 51,516 | $0.00 | $0 |
| 2026-04-03 | Bastek William D EVP, Merchandising | Tax withholding | 2,972 | $321.63 | $956k |
| 2026-03-25 | 2 co-filers Chair, President and CEO | Grant | 11,548 | $0.00 | $0 |
EOD close · as of 2026-10-29
Where each multiple sits in its own 14-yr range · 68th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2027 · every deduction from revenue to net income
DuPont — the three levers
ROE 110% against ROIC 23% — 88% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 145.5% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2020 | FY2021 | FY2021 | FY2022 | FY2023 | FY2024 | FY2026 | FY2027 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 65.7 | 65.9 | 66.0 | 66.4 | 66.5 | 66.6 | 66.6 | 66.7 |
| Gross Profit | 34.3 | 34.1 | 34.0 | 33.6 | 33.5 | 33.4 | 33.4 | 33.3 |
| SG&A | 18.0 | 17.9 | 18.5 | 16.8 | 16.7 | 17.4 | 18.0 | 18.6 |
| Operating Income | 14.4 | 14.4 | 13.8 | 15.2 | 15.3 | 14.2 | 13.5 | 12.7 |
| Income Tax | 3.2 | 3.2 | 3.1 | 3.5 | 3.4 | 3.1 | 2.9 | 2.7 |
| Net Income | 10.3 | 10.2 | 9.7 | 10.9 | 10.9 | 9.9 | 9.3 | 8.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on HD: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
The spread has compressed 4 years running.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2021 | 36.1% | 8.4% (today's — no rate published for this year) | 27.7pts |
| FY2021 | 33.3% | 8.4% (today's — no rate published for this year) | 25.0pts |
| FY2022 | 39.8% | 6.8% | 32.9pts |
| FY2023 | 34.4% | 7.6% | 26.9pts |
| FY2024 | 30.6% | 8.3% | 22.4pts |
| FY2026 | 23.4% | 9.2% | 14.2pts |
| FY2027 | 21.3% | 8.4% (today's — no rate published for this year) | 12.9pts |
| Now | 22.8% | 8.4% | 14.4pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2017 | 34.2% | 14.2% | 8.4% |
| FY2018 | 34.0% | 14.5% | 8.6% |
| FY2020 | 34.3% | 14.4% | 10.3% |
| FY2021 | 34.1% | 14.4% | 10.2% |
| FY2021 | 34.0% | 13.8% | 9.7% |
| FY2022 | 33.6% | 15.2% | 10.9% |
| FY2023 | 33.5% | 15.3% | 10.9% |
| FY2024 | 33.4% | 14.2% | 9.9% |
| FY2026 | 33.4% | 13.5% | 9.3% |
| FY2027 | 33.3% | 12.7% | 8.6% |
Leverage and buybacks account for 88 points of the 110% return on equity in FY2027. The business earns 23% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$22.9B of goodwill — 64% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer. With goodwill over half the base, the ex-goodwill figure divides by a small remainder and moves sharply — read it as a direction, not a precise rate.
ROIC ex-goodwill is 125.63% against 44.73% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Cash conversion is 0.94x, but receivables have outgrown revenue 2 years running.
Receivables have outgrown revenue for 2 years running — sales are being booked faster than the money arrives, which reaches the cash flow statement a year or more after it shows up here.
Covers interest 6.1x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 8.66x |
| 5% | 8.23x |
| 10% | 7.79x |
| 15% | 7.36x |
| 20% | 6.93x |
| 25% | 6.50x |
| 30% | 6.06x |
| 35% | 5.63x |
| 40% | 5.20x |
| 45% | 4.76x |
| 50% | 4.33x |
| 55% | 3.90x |
| 60% | 3.46x |
Ladder as of 2026-02-01 (10-K); cash from the 2026-02-01 balance sheet; FCF from FY2027.
Balance sheet at 2026-02-01. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
The maturity schedule is not part of this verdict — its filing anchor is often older than the balance sheet it sits beside, so a wall inside 24 months may not be visible here.
At $328.98, free cash flow must compound 7.08%/yr for 10 years. It has done 2.34%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | 48.8% | 7.1% |
| FY2022 | −14.5% | 7.1% |
| FY2023 | −17.9% | 7.1% |
| FY2024 | 56.1% | 7.1% |
| FY2026 | −9.0% | 7.1% |
| FY2027 | −22.5% | 7.1% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The implied rate has been matched or beaten in 2 of the last 6 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $14.16B | $14.16B |
| Share-based comp | $522M | $14.68B |
| Other non-cash & working capital | $1.65B | $16.32B |
| Operating cash flow | $16.32B | $16.32B |
| Capex | −$3.68B | $12.65B |
| Free cash flow | $12.65B | $12.65B |
| FCF after SBC | $12.12B | $12.12B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2021 | 19.9% | 42.1% | 22.2 points |
| FY2022 | 14.4% | 14.5% | 0.1 points |
| FY2023 | 4.1% | -3.2% | -7.3 points |
| FY2024 | -3.0% | 0.3% | 3.3 points |
| FY2026 | 4.5% | 47.3% | 42.8 points |
| FY2027 | 3.2% | 14.2% | 10.9 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2021 | 7 days | 73 days | 39.1 days | 40.9 days |
| FY2021 | 8.3 days | 69.6 days | 48.5 days | 29.3 days |
| FY2022 | 8.3 days | 80.3 days | 49 days | 39.6 days |
| FY2023 | 7.7 days | 86.8 days | 39.9 days | 54.6 days |
| FY2024 | 8 days | 75.3 days | 36 days | 47.2 days |
| FY2026 | 11.2 days | 80.6 days | 41 days | 50.8 days |
| FY2027 | 12.4 days | 85.8 days | 38.2 days | 60 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2021 | -4.8 percent |
| FY2021 | -8.5 percent |
| FY2022 | -0.2 percent |
| FY2023 | 3.3 percent |
| FY2024 | -7.9 percent |
| FY2026 | -5.2 percent |
| FY2027 | -2.1 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2027) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.