HD · 10-Q · 2026Q2 · Full report

Return on Invested Capital

HOME DEPOT, INC. · 2026-05-27 · Importance 56 · Surprise 58

ROIC for the trailing twelve-month period declined to 25.4% at the end of Q1 fiscal 2026 from 31.3% at the end of Q1 fiscal 2025, a material relative decrease. Management attributes the decline primarily to higher average equity driven by the ongoing pause in share repurchases and higher average long-term debt largely related to financing the SRS acquisition. The filing provides the ROIC calculation (NOPAT divided by average debt and equity) and the underlying NOPAT and average debt and equity amounts for the trailing twelve months.