Home Depot (HD) Operating Margin (2009 - 2026)

Home Depot's Operating Margin history runs 18 years deep, the most recent figure standing at 11.93% for 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 was 11.93% for Q2 2026 at Home Depot, up from 10.08% in the prior quarter.
• Across five years, Operating Margin topped out at 16.46% in Q3 2022 and bottomed at 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 slumped 148 bps.
• Home Depot's Operating Margin stood at 15.82% in 2022, then dropped by 9 bps to 14.34% in 2023, then retreated by 6 bps to 13.47% in 2024, then slipped by 4 bps to 12.94% in 2025, then dropped by 8 bps to 11.93% in 2026.
• Business Quant data shows HD's Operating Margin at 11.93% in Q2 2026, 10.08% in Q1 2026, and 12.94% in Q4 2025.