Home Depot (HD) Operating Margin (2009 - 2026)
Home Depot's (HD) quarterly Operating Margin came in at 11.93% in Q2 2026, down 95.0% YoY from 238.53% in Q2 2025, and up 18.36% on a QoQ basis from 10.08% in Q1 2026.
Home Depot (HD) Operating Margin (2009 - 2026) Analysis & Trends
Home Depot (HD) has 18 years of Operating Margin data on file, last reported at 11.93% in Q2 2026.
- Quarterly Operating Margin fell 95.0% year-over-year to 11.93% in Q2 2026, while the trailing twelve-month figure through May 2026 was 12.45% (down 79.0% YoY) and the FY2026 annual result came in at 12.68%, down 81.0% from the prior year.
- Operating Margin rose to 11.93% in Q2 2026, from 10.08% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 16.46% in Q3 2022 to a low of 10.08% in Q1 2026.
- A 5-year average of 13.72% and a median of 13.73% in 2022 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin soared 85 bps — and 2023, when it tumbled 148 bps.
- Tracing HD's Operating Margin over 5 years: stood at 15.82% in 2022, then decreased by 9 bps to 14.34% in 2023, then declined by 6 bps to 13.47% in 2024, then retreated by 4 bps to 12.94% in 2025, then decreased by 8 bps to 11.93% in 2026.
- The last three Operating Margin figures came in at 11.93% (Q2 2026), 10.08% (Q1 2026), and 12.94% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Home Depot | 333.78 Bn | 332.18 Bn | 13.78 Bn | 11.93% |
| 2 | Lowes Companies | 120.90 Bn | 119.65 Bn | 7.54 Bn | 11.07% |
| 3 | Floor & Decor Holdings | 5.87 Bn | 5.55 Bn | 603.12 Mn | 9.92% |
| 4 | Haverty Furniture Companies | 408.54 Mn | 304.25 Mn | 119.73 Mn | 3.33% |
| 5 | Live Ventures | 29.07 Mn | 18.17 Mn | 37.10 Mn | 4.85% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 3, 2026 | 11.93% |
| Feb 1, 2026 | 10.08% |
| Nov 2, 2025 | 12.94% |
| Aug 3, 2025 | 14.48% |
| May 4, 2025 | 12.88% |
| Feb 2, 2025 | 11.32% |
| Oct 27, 2024 | 13.47% |
| Jul 28, 2024 | 15.13% |
| Apr 28, 2024 | 13.95% |
| Jan 28, 2024 | 11.91% |
| Oct 29, 2023 | 14.34% |
| Jul 30, 2023 | 15.35% |
| Apr 30, 2023 | 14.90% |
| Jan 29, 2023 | 13.26% |
| Oct 30, 2022 | 15.82% |
| Jul 31, 2022 | 16.46% |
| May 1, 2022 | 15.24% |
| Jan 30, 2022 | 13.51% |
| Oct 31, 2021 | 15.74% |
| Aug 1, 2021 | 16.15% |