Home Depot Inc (HD)

Gross profit margin

		Jan 28, 2024	Jan 29, 2023	Jan 30, 2022	Jan 31, 2021	Feb 2, 2020
Gross profit	US$ in thousands	50,960,000	52,778,000	50,832,000	44,853,000	37,572,000
Revenue	US$ in thousands	152,669,000	157,403,000	151,157,000	132,110,000	110,225,000
Gross profit margin		33.38%	33.53%	33.63%	33.95%	34.09%

January 28, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $50,960,000K ÷ $152,669,000K
= 33.38%

Home Depot Inc's gross profit margin has shown a slight decline in recent years, decreasing from 34.09% in FY2020 to 33.38% in FY2024. This decrease indicates that the company's cost of goods sold relative to its revenue has been increasing over the period. While the gross profit margin has remained relatively stable around the low to mid-30% range, management should continue monitoring the trend to ensure efficiencies in production and pricing strategies are maintained to support healthy profit margins.