The Home Depot, Inc. (HD): return on invested capital, 10 filed years
ROIC at The Home Depot, Inc. was 19.9% in FY2025, the newest filed year. Across the 10 computed years from FY2016 it ranged from 19.9% (FY2025) to 46.5% (FY2018), with a median of 34.3%.
Tonight's figure on the company page: 19.9%, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | ROIC | Read from |
|---|---|---|
| FY2016 | 33.7% | 10-K, filed 2017-03-23 |
| FY2017 | 37.2% | 10-K, filed 2018-03-22 |
| FY2018 | 46.5% | 10-K, filed 2019-03-28 |
| FY2019 | 36.4% | 10-K, filed 2020-03-25 |
| FY2020 | 33.3% | 10-K, filed 2021-03-24 |
| FY2021 | 38.3% | 10-K, filed 2022-03-23 |
| FY2022 | 34.9% | 10-K, filed 2023-03-15 |
| FY2023 | 31.2% | 10-K, filed 2024-03-13 |
| FY2024 | 23.4% | 10-K, filed 2025-03-21 |
| FY2025 | 19.9% | 10-K, filed 2026-03-18 |
How each year is computed
Operating income x (1 - effective tax rate) / (equity + total debt - cash) x 100
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.