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

Home Depot has reported Operating Margin for 18 years, with the latest figure at 11.93% in Q2 2026.

• For the quarter ending Q2 2026, Operating Margin fell 95.0% year-over-year to 11.93%; the trailing twelve-month figure through May 2026 stood at 12.45% (down 79.0% YoY), and the FY2026 full-year result was 12.68%, down 81.0% from the prior year.
• Operating Margin for Q2 2026 stood at 11.93%, up from 10.08% in the prior quarter.
• The five-year high for Operating Margin was 16.46% in Q3 2022, with the low at 10.08% in Q1 2026.
• Historically, Operating Margin has averaged 13.72% across 5 years, with a median of 13.73% in 2022.
• Annual changes were most pronounced in 2022 — Operating Margin soared 85 bps — and 2023, when it tumbled 148 bps.
• Home Depot's Operating Margin 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.