Home Depot
Home Depot returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2027 Q2 | Aug 2, 2026 | 25% | 29.28% | -6.29% | 104.3% | 13.59% | 17.3 pp |
| FY 2027 Q1 | May 3, 2026 | 25.29% | 29.65% | -8.8% | 128.38% | 13.53% | 17.6 pp |
| FY 2026 Q4 | Feb 1, 2026 | 25.32% | 29.82% | -5.96% | 145.54% | 14.07% | 17.6 pp |
| FY 2026 Q3 | Nov 2, 2025 | 26.12% | 30.75% | 3.35% | 162.91% | 14.33% | 18.4 pp |
| FY 2026 Q2 | Aug 3, 2025 | 27.64% | 31.32% | 15.5% | 193.95% | 14.86% | 19.9 pp |
| FY 2026 Q1 | May 4, 2025 | 32.99% | 35.25% | 0.88% | 299.52% | 16.41% | 25.3 pp |
| FY 2025 Q4 | Feb 2, 2025 | 32.93% | 35.3% | -0.36% | 385.37% | 17.15% | 25.2 pp |
| FY 2025 Q3 | Oct 27, 2024 | 32.17% | 35.24% | -5.15% | 404.93% | 16.91% | 24.5 pp |
| FY 2025 Q2 | Jul 28, 2024 | 32.58% | 35.01% | -7.57% | 513.36% | 17.05% | 24.9 pp |
| FY 2025 Q1 | Apr 28, 2024 | 39.66% | 40.1% | — | 1,362.97% | 19.11% | 32 pp |
| FY 2024 Q4 | Jan 28, 2024 | 39.53% | 40.22% | — | 1,162.16% | 19.8% | 31.8 pp |
| FY 2024 Q3 | Oct 29, 2023 | 40.94% | 42.64% | — | 1,151.32% | 20.6% | 33.2 pp |
| FY 2024 Q2 | Jul 30, 2023 | 43.44% | 46.01% | -68.86% | 2,065.27% | 21.33% | 35.7 pp |
| FY 2024 Q1 | Apr 30, 2023 | 45.88% | 48.73% | 10.68% | — | 21.9% | 38.2 pp |
| FY 2023 Q4 | Jan 29, 2023 | 46.88% | 49.81% | 14.71% | — | 23.06% | 39.2 pp |
| FY 2023 Q3 | Oct 30, 2022 | 47.35% | 48.85% | 19.15% | 1,465.5% | 22.81% | 39.7 pp |
| FY 2023 Q2 | Jul 31, 2022 | 48.69% | 51.6% | 26.9% | 1,464.44% | 23.04% | 41 pp |
| FY 2023 Q1 | May 1, 2022 | 51.54% | 50.97% | 28.8% | 84,712.82% | 22.15% | 43.8 pp |
| FY 2022 Q4 | Jan 30, 2022 | 50.72% | 50.86% | 104.76% | 2,050.28% | 23.07% | 43 pp |
| FY 2022 Q3 | Oct 31, 2021 | 59.07% | 50.88% | 26.9% | 1,240.31% | 22.78% | 51.4 pp |
| FY 2022 Q2 | Aug 1, 2021 | 60.17% | 51.3% | 26.01% | 1,841.81% | 22.73% | 52.5 pp |
| FY 2022 Q1 | May 2, 2021 | 57.78% | 51.83% | 53.38% | — | 22.49% | 50.1 pp |
| FY 2021 Q4 | Jan 31, 2021 | 47.05% | 45.54% | 27.27% | 14,061.2% | 21.12% | 39.4 pp |
| FY 2021 Q3 | Nov 1, 2020 | 56.03% | 47.39% | — | 5,514.35% | 20.95% | 48.3 pp |
| FY 2021 Q2 | Aug 2, 2020 | 56.74% | 46.14% | — | — | 20.5% | 49 pp |
| FY 2021 Q1 | May 3, 2020 | 49.56% | 46.18% | — | — | 19.91% | 41.9 pp |
| FY 2020 Q4 | Feb 2, 2020 | 46.75% | 52.68% | 34.68% | — | 23.61% | 39.1 pp |
| FY 2020 Q3 | Nov 3, 2019 | 46.65% | 52.95% | 137.18% | 9,331.93% | 22.78% | 38.9 pp |
| FY 2020 Q2 | Aug 4, 2019 | 49.29% | 51.59% | 223.76% | 2,639.1% | 22.81% | 41.6 pp |
| FY 2020 Q1 | May 5, 2019 | 49.87% | 52.17% | 659.24% | — | 22.88% | 42.2 pp |
| FY 2019 Q4 | Feb 3, 2019 | 47.05% | 55.84% | 396.94% | — | 25.12% | 39.4 pp |
| FY 2019 Q3 | Oct 28, 2018 | 45.1% | 54.76% | 269.55% | 546.52% | 23.4% | 37.4 pp |
| FY 2019 Q2 | Jul 29, 2018 | 44.16% | 52.3% | 465.87% | 354.27% | 21.38% | 36.5 pp |
| FY 2019 Q1 | Apr 29, 2018 | 40.94% | 51.6% | 163.55% | 319.35% | 19.7% | 33.2 pp |
| FY 2018 Q4 | Jan 28, 2018 | 36.79% | 51.36% | — | 298.25% | 19.73% | 29.1 pp |
| FY 2018 Q3 | Oct 29, 2017 | 37.24% | 48.8% | — | 210.53% | 19.2% | 29.5 pp |
| FY 2018 Q2 | Jul 30, 2017 | 38.14% | 46.97% | 899.42% | 164.51% | 18.62% | 30.4 pp |
| FY 2018 Q1 | Apr 30, 2017 | 37.03% | 47.29% | — | 158.65% | 18.25% | 29.3 pp |
| FY 2017 Q4 | Jan 29, 2017 | 33.67% | 45.63% | — | 149.44% | 18.61% | 26 pp |
| FY 2017 Q3 | Oct 30, 2016 | 32.88% | 44.81% | — | 116.06% | 17.33% | 25.2 pp |
| FY 2017 Q2 | Jul 31, 2016 | 34.44% | 44.5% | 196.27% | 97.29% | 16.9% | 26.7 pp |
| FY 2017 Q1 | May 1, 2016 | 32.73% | 44.62% | 104.14% | 93.09% | 16.61% | 25 pp |
| FY 2016 Q4 | Jan 31, 2016 | 29.83% | 40.12% | 133.98% | 89.64% | 16.99% | 22.1 pp |
| FY 2016 Q3 | Nov 1, 2015 | 29.19% | 39.76% | 123.56% | 78.03% | 16.15% | 21.5 pp |
| FY 2016 Q2 | Aug 2, 2015 | 29.93% | 37.86% | — | 66.98% | 15.42% | 22.2 pp |
| FY 2016 Q1 | May 3, 2015 | 29.09% | 39.33% | — | 61.31% | 15.37% | 21.4 pp |
| FY 2015 Q4 | Feb 1, 2015 | 26.57% | 35.82% | — | 58.09% | 15.77% | 18.9 pp |
| FY 2015 Q3 | Nov 2, 2014 | 25.35% | 33.17% | — | 49.16% | 14.01% | 17.7 pp |
| FY 2015 Q2 | Aug 3, 2014 | 25.43% | 32.69% | — | 43.01% | 13.52% | 17.7 pp |
| FY 2015 Q1 | May 4, 2014 | 24.12% | 31.4% | — | 38.81% | 12.76% | 16.4 pp |
| FY 2014 Q4 | Feb 2, 2014 | 22.68% | 30.87% | — | 35.55% | 13.2% | 15 pp |
| FY 2014 Q3 | Nov 3, 2013 | 22.69% | 29.4% | — | 33.76% | 12.62% | 15 pp |
| FY 2014 Q2 | Aug 4, 2013 | 21.38% | 28.68% | — | 30.13% | 11.85% | 13.7 pp |
| FY 2014 Q1 | May 5, 2013 | 20.28% | 26.54% | — | 27.5% | 10.8% | 12.6 pp |
| FY 2013 Q4 | Feb 3, 2013 | 18.48% | 25.56% | — | 25.42% | 11.11% | 10.8 pp |
| FY 2013 Q3 | Oct 28, 2012 | — | 23.73% | — | 24.15% | 10.31% | — |
| FY 2013 Q2 | Jul 29, 2012 | 17.75% | 23.29% | — | 23.84% | 10.15% | 10 pp |
| FY 2013 Q1 | Apr 29, 2012 | 16.87% | 22.24% | — | 22.7% | 9.54% | 9.2 pp |
| FY 2012 Q4 | Jan 29, 2012 | 15.56% | 21.79% | — | 21.11% | 9.63% | 7.9 pp |
| FY 2012 Q3 | Oct 30, 2011 | 14.99% | 20.78% | — | 20.04% | 8.88% | 7.3 pp |
| FY 2012 Q2 | Jul 31, 2011 | 14.73% | 20.29% | — | 19.09% | 8.48% | 7 pp |
| FY 2012 Q1 | May 1, 2011 | 13.94% | 19.53% | 70.41% | 18.23% | 7.93% | 6.2 pp |
| FY 2011 Q4 | Jan 30, 2011 | 13.26% | 19.3% | 122.12% | 17.44% | 8.24% | 5.6 pp |
| FY 2011 Q3 | Oct 31, 2010 | 13.08% | 18.14% | — | 16.07% | 7.3% | 5.4 pp |
| FY 2011 Q2 | Aug 1, 2010 | 12.66% | 17.46% | — | 15.27% | 6.81% | 5 pp |
| FY 2011 Q1 | May 2, 2010 | — | — | — | — | — | — |
| FY 2010 Q4 | Jan 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Nov 1, 2009 | — | — | — | — | — | — |
| FY 2010 Q2 | Aug 2, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · HD, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.