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Home Depot vs Target: revenue, profit, margins and growth compared

Home Depot brought in $164.7B of revenue in fiscal 2025, Target $104.8B in fiscal 2025. Revenue changed by +3.2% at Home Depot and -1.7% at Target on the year before, so Home Depot grew faster. Home Depot kept 8.6% of its revenue as net profit, Target 3.5%. Free cash flow was $12.6B at Home Depot and $2.8B at Target.

Side by side, latest fiscal year

HDTGT
Fiscal year endedFY2025 (February 1, 2026)FY2025 (January 31, 2026)
Revenue$164.7B$104.8B
Revenue growth+3.2%-1.7%
Net income$14.2B$3.7B
Net margin8.6%3.5%
Free cash flow$12.6B$2.8B
Free cash flow margin7.7%2.7%
Earnings per share (diluted)$14.23$8.13
Cash$1.4B$5.5B
Debt$49.4B$14.4B
Price to earnings20.619.4
Market value$292.4B$71.5B
Dividend yield3.14%2.88%
Rank by revenue in sector#4 of 778 · Consumer discretionary#5 of 778 · Consumer discretionary

Over the years

Revenue
HD FY2018: $108.2BHD FY2019: $110.2BHD FY2020: $132.1BHD FY2021: $151.2BHD FY2022: $157.4BHD FY2023: $152.7BHD FY2024: $159.5BHD FY2025: $164.7BTGT FY2018: $75.4BTGT FY2019: $78.1BTGT FY2020: $93.6BTGT FY2021: $106BTGT FY2022: $109.1BTGT FY2023: $107.4BTGT FY2024: $106.6BTGT FY2025: $104.8BFY18FY19FY20FY21FY22FY23FY24FY25
HD $164.7BTGT $104.8B
Net income
HD FY2018: $11.1BHD FY2019: $11.2BHD FY2020: $12.9BHD FY2021: $16.4BHD FY2022: $17.1BHD FY2023: $15.1BHD FY2024: $14.8BHD FY2025: $14.2BTGT FY2018: $2.9BTGT FY2019: $3.3BTGT FY2020: $4.4BTGT FY2021: $6.9BTGT FY2022: $2.8BTGT FY2023: $4.1BTGT FY2024: $4.1BTGT FY2025: $3.7BFY18FY19FY20FY21FY22FY23FY24FY25
HD $14.2BTGT $3.7B
Net margin
HD FY2018: 10.3%HD FY2019: 10.2%HD FY2020: 9.7%HD FY2021: 10.9%HD FY2022: 10.9%HD FY2023: 9.9%HD FY2024: 9.3%HD FY2025: 8.6%TGT FY2018: 3.9%TGT FY2019: 4.2%TGT FY2020: 4.7%TGT FY2021: 6.6%TGT FY2022: 2.5%TGT FY2023: 3.9%TGT FY2024: 3.8%TGT FY2025: 3.5%FY18FY19FY20FY21FY22FY23FY24FY25
HD 8.6%TGT 3.5%
Revenue growth
HD FY2019: +1.9%HD FY2020: +19.9%HD FY2021: +14.4%HD FY2022: +4.1%HD FY2023: -3.0%HD FY2024: +4.5%HD FY2025: +3.2%TGT FY2019: +3.7%TGT FY2020: +19.8%TGT FY2021: +13.3%TGT FY2022: +2.9%TGT FY2023: -1.6%TGT FY2024: -0.8%TGT FY2025: -1.7%FY19FY20FY21FY22FY23FY24FY25
HD +3.2%TGT -1.7%
Free cash flow
HD FY2018: $10.7BHD FY2019: $11BHD FY2020: $16.4BHD FY2021: $14BHD FY2022: $11.5BHD FY2023: $17.9BHD FY2024: $16.3BHD FY2025: $12.6BTGT FY2018: $2.5BTGT FY2019: $4.1BTGT FY2020: $7.9BTGT FY2021: $5.1BTGT FY2022: -$1.5BTGT FY2023: $3.8BTGT FY2024: $4.5BTGT FY2025: $2.8BFY18FY19FY20FY21FY22FY23FY24FY25
HD $12.6BTGT $2.8B

Fiscal years as each company reports them; the two may end in different months.

Questions about Home Depot and Target

Which is bigger by revenue, Home Depot or Target?

Home Depot is bigger by revenue: $164.7B in fiscal 2025, against $104.8B for Target in fiscal 2025.

Which keeps more of its revenue as profit, Home Depot or Target?

Home Depot had a net margin of 8.6% in fiscal 2025; Target had 3.5% in fiscal 2025.

Which grew revenue faster, Home Depot or Target?

In their latest fiscal years revenue changed by +3.2% at Home Depot and -1.7% at Target.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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