Q2 FY27 · Ended Aug 2, 2026 · View SEC filing
The store margin rose; distribution pulled the total down
SRS earns 10.6% of sales but 3.6% of operating income, so its growth lowers the blended margin.
For investorsWhat the store margin looks like once the tariff refunds fade
For foundersBuying a channel instead of building one
Net sales rose 5.7%, but locations and websites open over a year grew far less; the filing credits GMS.
Comparable average ticket rose 2.8% while transactions fell, which the filing links to smaller repair and maintenance projects.
Supplier payment timing lifted cash above profit, funding dividends and debt repayment while share buybacks stay paused.
Unlock the financial breakdown, competitive insights, historical trends and founder playbook, plus research across the company library.
Free CXProWealth membership required
Business Lens describes Home Depot from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
