How Home Depot makes money

Period

FY2025

How does Home Depot make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

The Home Depot Inc. · FY2025 · year ended 2026-02-01

Revenue$164.7BGross profit$54.9B · 33%Cost of revenue$109.8B · 67%Operating income$20.9B · 13%Operating expenses$34.0B · 21%SG&A$30.7B · 19%Other opex$3.3B · 2%Pre-tax income$18.6B · 11%Other expense$2.3B · 1%Net income$14.2B · 9%Income tax$4.4B · 3%Product$159.0B · 97%Service$5.7B · 3%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.