HD · 10-Q · 2026Q2 · Full report

Inventory and Working Capital

HOME DEPOT, INC. · 2026-05-27 · Importance 71 · Surprise 48

Inventory on the balance sheet increased to $27.3 billion at May 3, 2026 (from $25.8 billion at February 1, 2026), and management reported an inventory turnover ratio of 4.2x versus 4.3x a year earlier, driven by higher average inventory levels. Accounts payable rose materially (to $14.4 billion from $11.5 billion), contributing to working capital movements that supported cash flow. Changes in working capital, primarily inventory management, were a key driver of the $6.0 billion of operating cash flow generated during the quarter. Management cites inventory management as a primary factor in the improvement in net cash provided by operating activities versus the prior year.

Key facts