HD · 10-Q · 2026Q2 · Full report

Acquisition / Partnership / Divestiture

HOME DEPOT, INC. · 2026-05-27 · Importance 96 · Surprise 100

On September 4, 2025 Home Depot completed the acquisition of GMS for total purchase consideration of $5.1 billion; GMS is a distributor of specialty building products (drywall, ceilings, steel framing) operating branches across the U.S. and Canada. GMS contributed $1.3 billion of net sales in Q1 fiscal 2026 and its inclusion materially affected Other (SRS) net sales and margins. The company recorded a preliminary purchase price allocation in fiscal 2025 and states remaining measurement period items primarily relate to income taxes; measurement period adjustments recognized in Q1 fiscal 2026 were immaterial. Management financed portions of the acquisition through increased long-term debt and commercial paper borrowings, contributing to higher average long-term debt in the trailing twelve months.