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The Home Depot Inc HD Stock Quote

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Morningstar‘s Stock Analysis HD

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Economic Moat

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Despite Demand Normalization, Home Depot Poised to Benefit From Long-Term Housing Dynamics

Jaime M. Katz, CFA Senior Equity Analyst

Business Strategy and Outlook

| Jaime M. Katz, CFA |

Home Depot is the world's largest home improvement retailer, on track to deliver $156 billion in revenue in 2022. It continues to benefit from a healthy long-term housing dynamics and improvements in its merchandising and distribution network. The firm earns a wide economic moat rating due to its economies of scale and brand equity. While Home Depot has produced strong historical returns as a result of its scale, operational excellence and concise merchandising remain key tenets underlying our modest margin expansion forecast. Its flexible distribution network will help elevate the firm's brand intangible asset, with faster time to delivery improving the do-it-yourself experience and market delivery centers catering to the pro business. The success of ongoing initiatives should allow for modest operating margin expansion above prepandemic levels longer term, despite inflationary pressures.

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Business Description

Home Depot is the world's largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the United States, Canada, and Mexico. Its stores offer numerous building materials, home improvement products, lawn and garden products, and decor products and provide various services, including home improvement installation services and tool and equipment rentals. The acquisition of distributor Interline Brands in 2015 allowed Home Depot to enter the maintenance, repair, and operations business, which has been expanded through the tie-up with HD Supply (2020). The addition of the Company Store brought textile exposure to Home Depot's lineup.

Contact
2455 Paces Ferry Road
Atlanta, GA, 30339
T +1 770 433-8211
Industry Home Improvement Retail
Most Recent Earnings Jul 31, 2022
Fiscal Year End Jan 29, 2023
Employees 490,600

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