Home Depot sees $164.7B revenue

Home Depot is in an odd spot right now. The company is still enormous, still profitable, and still expected to do roughly $164.7 billion in fiscal 2026 sales. But the easy growth story is gone for the moment — housing turnover is soft, big remodeling projects are uneven, and investors are looking for proof that demand can improve without a major margin squeeze. That is why the next few weeks matter so much. ### Why is $164.7 billion the number people keep using? Because that is basically where both company materials and analyst models are clustering. Home Depot’s investor materials list fiscal 2025 net sales at $164.7 billion and net earnings at $14.2 billion, while analyst aggregates for the next fiscal year sit very close to that revenue level rather than implying a big jump. In other words, the market is not pricing in a dramatic rebound yet — more of a hold-steady year with modest improvement. ### So is this a growth story or a waiting game? Right now, more waiting game. Home Depot already told investors it would report first-quarter fiscal 2026 results on May 19, and that report is the next real checkpoint. The issue is not whether the chain can sell a lot of paint, tools, and appliances — it obviously can. The issue is whether higher-ticket categories start moving again as homeowners adjust to elevated borrowing costs and a sluggish housing market. (ir.homedepot.com) ### What are analysts actually expecting? The broad shape is pretty clear even if the exact EPS number varies by source. MarketScreener’s consensus table shows fiscal 2026 revenue at about $164.683 billion and net income around $14.156 billion. A separate analyst roundup from last year showed the same basic idea — revenue near $164 billion and earnings per share in the mid-$14 range. That tells you the debate is less about survival and more about operating leverage: can Home Depot turn flat-ish sales into better profit growth? (ir.homedepot.com) ### Why does the housing market matter so much? Because Home Depot is tied to home activity even when it is not directly selling houses. People spend more on repairs, upgrades, and larger projects when they move, refinance, or feel richer about their home equity. When mortgage rates stay high and turnover stays muted, the big discretionary projects tend to slip. The company can still lean on smaller repair-and-maintenance demand and on professional customers, but the mix gets tougher. (marketscreener.com) That is the catch. ### What is the privacy fight about? Zevin Asset Management filed an exempt solicitation for Home Depot’s 2026 annual meeting and is urging support for a proposal asking for a board-level report on customer data privacy risks tied to sharing sensitive information with third parties. This is not the core earnings story, but it matters because it pushes governance risk into the same conversation as sales growth and margins. If investors think trust or disclosure is slipping, that can become its own overhang. (nasdaq.com) ### Is this a crisis for Home Depot? No — not even close. Home Depot is still the category leader, still generating huge sales, and still expected to remain highly profitable. But it is not getting the benefit of a simple recovery narrative. Investors want cleaner evidence that demand is firming, that margins can improve, and that side issues like privacy oversight do not become distractions. (sec.gov) ### What should investors watch next? Three dates matter. First is May 19, when Home Depot reports first-quarter fiscal 2026 earnings. Second is May 21, when shareholders meet and the privacy proposal gets its moment. Third is whatever management says about the rest of the year — especially demand from pros, larger project trends, and whether full-year guidance still looks like a near-flat revenue year with only modest earnings improvement. (ir.homedepot.com) ### Bottom line Home Depot’s story is simple, but not easy. The company is big enough to keep printing huge revenue. What investors are waiting for now is proof of acceleration. Until that shows up, $164.7 billion looks less like a breakout target and more like a ceiling the market wants tested. (ir.homedepot.com)