Home Depot, Inc. reported its financial results for the first quarter of fiscal 2025, revealing net sales of $39.9 billion, a 9.4% increase from $36.4 billion in the same period last year. The company's net earnings for the quarter were $3.4 billion, or $3.45 per diluted share, compared to $3.6 billion, or $3.63 per diluted share, in the first quarter of fiscal 2024. The increase in sales was primarily attributed to the acquisition of SRS, which contributed $2.6 billion to net sales during the quarter. However, the company experienced a slight decline in comparable sales, which decreased by 0.3%, reflecting a 0.5% drop in customer transactions.
In terms of operational metrics, Home Depot opened three new stores in the U.S. during the quarter, bringing its total store count to 2,350, with 322 of those located in Canada and Mexico. The company reported an inventory turnover ratio of 4.3 times, down from 4.5 times in the previous year. Online sales represented 15.5% of total net sales, marking a 10.9% increase compared to the first quarter of fiscal 2024. The company’s cash flow from operations was $4.3 billion, which was utilized for dividend payments of $2.3 billion, repayment of $1.1 billion in long-term debt, and $806 million in capital expenditures.
Home Depot's total assets increased to $99.2 billion as of May 4, 2025, up from $96.1 billion at the end of the previous fiscal period. The company's liabilities also rose, totaling $91.2 billion, compared to $89.5 billion previously. The increase in liabilities was driven by higher accounts payable and accrued expenses. The company’s stockholders' equity increased to $7.96 billion, reflecting retained earnings growth and a slight increase in paid-in capital.
The filing also highlighted strategic developments, including the finalization of the SRS acquisition, which was completed in June 2024 for $18 billion. This acquisition is expected to enhance Home Depot's distribution capabilities in the residential specialty trade sector. The company has paused its share repurchase program since March 2024, with approximately $11.7 billion remaining under its $15 billion share repurchase authorization approved in August 2023. Looking ahead, Home Depot anticipates continued investment in capital expenditures, targeting approximately $4 billion for fiscal 2025 to enhance customer experience and expand its operational capabilities.
About HOME DEPOT, INC.
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