Home Depot, Inc. (HD) – Leveraging technology to improve the shopping experience

Home Depot, Inc. (HD) (Q2FY24)

Stock performance: Home Depot stock gave returns of -7.6% and 8.3% in the period of three months and one year. The stock has a 52-week high of $347.25 and a 52-week low of $267.87. The stock gave returns of 1.5% and CAGR of 0.5% over a period of three years. The stock had a 200-Day Moving Average of $307.41 and a 50-Day Moving Average of $317.03.

Quarter Performance: In Q2FY24, HD’s revenue declined by 2% to $42.92bn from $43.79bn in Q2FY23. Comparable sales for Q2FY24 decreased 2.0%, and comparable sales in the U.S. decreased 2.0%

Guidance: For FY24, HD expects sales growth and comparable sales decline between 2% and 5% compared to FY23. The operating margin is expected to be in between 14.3% and 14%. The interest expense is expected to be approximately $1.8bn. The tax rate is expected to 24.5%. Diluted earnings-per-share-percent-decline is expected to be in between 7% to 13% in FY24.

Highlights

In the kitchen and bathroom department, it is continuing to innovate with its Glacier
Bay brand, known for its great performance and stylish designs. This fall, it is expanding the faucet range with features like touchless operation and spring-neck designs. It is also adding more options for sinks and showerheads and getting into new categories like disposals. These additions aim to make its kitchen and bath offerings even more appealing and functional.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– Discounted Cash Flow Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 39

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