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Home Depot Inc. (HD-0.81%) has submitted its Form 10-K filing for the fiscal year ended February 2, 2025.
The filing reports net sales of $159.5 billion for fiscal 2024, an increase of 4.5% compared to the previous year. This increase was attributed to the acquisition of SRS, which contributed $6.4 billion in sales, and an additional week in the fiscal year.
Operating income for the year was $21.5 billion, with a gross profit margin of 33.4%. The company's net earnings were $14.8 billion, or $14.91 per diluted share.
Home Depot completed the acquisition of SRS, a specialty trade distribution company, for $17.7 billion in cash. This acquisition is expected to accelerate growth with professional customers.
The company invested $3.5 billion in capital expenditures during the fiscal year and returned $8.9 billion to shareholders in the form of cash dividends.
Home Depot reported a return on invested capital (ROIC) of 31.3% for fiscal 2024, a decrease from 36.7% in the previous year, primarily due to higher average long-term debt and equity following the SRS acquisition.
The filing also details the company's financial position, including $1.7 billion in cash and cash equivalents at year-end, and $51.1 billion in senior notes outstanding.
Home Depot's strategic initiatives include continued investments in its supply chain, technology, and customer experience to drive growth and efficiency.
The company plans to invest approximately $4 billion in capital expenditures in fiscal 2025, focusing on enhancing customer experience and expanding Pro capabilities.
Home Depot's Board of Directors approved a 2.2% increase in the quarterly cash dividend to $2.30 per share, reflecting the company's commitment to returning value to shareholders.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Home Depot Inc. annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.