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

Home Depot brought in $164.7B of revenue in fiscal 2025, Walmart $713.2B in fiscal 2026. Revenue changed by +3.2% at Home Depot and +4.7% at Walmart on the year before, so Walmart grew faster. Home Depot kept 8.6% of its revenue as net profit, Walmart 3.1%. Free cash flow was $12.6B at Home Depot and $14.9B at Walmart.

Side by side, latest fiscal year

HDWMT
Fiscal year endedFY2025 (February 1, 2026)FY2026 (January 31, 2026)
Revenue$164.7B$713.2B
Revenue growth+3.2%+4.7%
Net income$14.2B$21.9B
Net margin8.6%3.1%
Free cash flow$12.6B$14.9B
Free cash flow margin7.7%2.1%
Earnings per share (diluted)$14.23$2.73
Cash$1.4B$10.7B
Debt$49.4B$38.2B
Price to earnings20.639.5
Market value$292.4B$859.3B
Dividend yield3.14%0.87%
Rank by revenue in sector#4 of 778 · Consumer discretionary#2 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: $164.7BWMT FY2019: $514.4BWMT FY2020: $524BWMT FY2021: $559.2BWMT FY2022: $572.8BWMT FY2023: $611.3BWMT FY2024: $648.1BWMT FY2025: $681BWMT FY2026: $713.2BFY18FY19FY20FY21FY22FY23FY24FY25FY26
HD $164.7BWMT $713.2B
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: $14.2BWMT FY2019: $6.7BWMT FY2020: $14.9BWMT FY2021: $13.5BWMT FY2022: $13.7BWMT FY2023: $11.7BWMT FY2024: $15.5BWMT FY2025: $19.4BWMT FY2026: $21.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
HD $14.2BWMT $21.9B
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%WMT FY2019: 1.3%WMT FY2020: 2.8%WMT FY2021: 2.4%WMT FY2022: 2.4%WMT FY2023: 1.9%WMT FY2024: 2.4%WMT FY2025: 2.9%WMT FY2026: 3.1%FY18FY19FY20FY21FY22FY23FY24FY25FY26
HD 8.6%WMT 3.1%
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%WMT FY2020: +1.9%WMT FY2021: +6.7%WMT FY2022: +2.4%WMT FY2023: +6.7%WMT FY2024: +6.0%WMT FY2025: +5.1%WMT FY2026: +4.7%FY19FY20FY21FY22FY23FY24FY25FY26
HD +3.2%WMT +4.7%
Free cash flow
HD FY2018: $10.7BHD FY2019: $11BHD FY2020: $16.4BHD FY2021: $14BHD FY2022: $11.5BHD FY2023: $17.9BHD FY2024: $16.3BHD FY2025: $12.6BWMT FY2019: $17.4BWMT FY2020: $14.6BWMT FY2021: $25.8BWMT FY2022: $11.1BWMT FY2023: $12BWMT FY2024: $15.1BWMT FY2025: $12.7BWMT FY2026: $14.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
HD $12.6BWMT $14.9B

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

Questions about Home Depot and Walmart

Which is bigger by revenue, Home Depot or Walmart?

Walmart is bigger by revenue: $713.2B in fiscal 2026, against $164.7B for Home Depot in fiscal 2025.

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

Home Depot had a net margin of 8.6% in fiscal 2025; Walmart had 3.1% in fiscal 2026.

Which grew revenue faster, Home Depot or Walmart?

In their latest fiscal years revenue changed by +3.2% at Home Depot and +4.7% at Walmart.

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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