What is Home Depot, Explain it with Key Facts and Comparison

What is Home Depot, Explain it with Key Facts and Comparison

Home Depot is the largest home improvement retailer in the United States. It is an American multinational corporation that sells tools, construction products, appliances, and services, including fuel and transportation rentals. 

Key Facts about Home Depot

In 2021, the company had 490,600 employees and more than $151 billion in revenue. Home Depot operates over 2,200 retail stores across the United States, Canada, and Mexico. The company’s stores average 105,000 square feet in size and are organized in a warehouse-style layout. Contractors make up only 5% of Home Depot’s customers but account for 45% of its $132 billion in annual sales. Home Depot exclusively carries several major brands like Behr paints, Ryobi and Ridgid power tools, and American Woodmark cabinetry. The company’s current slogan is “How Doers Get More Done”, replacing previous slogans like “More saving. More doing.” and “You can do it. We can help.” The Home Depot stock price on June 27, 2024 was $341.49.

How does Home Depot’s Stock Performance Compare to its Competitors

Home Depot has outperformed the broader market over the long-term, its stock has underperformed some key competitors so far in 2024. Analysts see modest upside from current levels, but Home Depot’s massive scale and market share make it a bellwether for the home improvement retail industry. Home Depot’s stock performance has been mixed compared to its competitors in the home improvement retail industry. In 2021, Home Depot’s stock price increased 59.50%, outperforming the S&P 500 index which returned 88.17% over the same 5-year period. So far in 2024, Home Depot’s stock is down 1.51% year-to-date, underperforming competitors like Lowe’s which is up 3.69% over the same period. Home Depot’s 52-week high of $396.87 is 16.1% above its current price, while its 52-week low of $274.26 is 19.8% below the current share price. Analysts have a median price target of $350.54 for Home Depot, representing a potential upside of 0.95% from the current price of $341.49.

Home Depot’s Current Slogan

“How Doers Get More Done” is Home Depot’s latest attempt to capture the attention of its core customer base through an impactful, action-oriented slogan. The company hopes this new tagline will resonate with its target market of home improvement “doers” and drive more traffic to its stores and website. Home Depot has invested heavily in advertising the new slogan, with gross advertising expenses of over $1 billion per year. 

Types of Products does Home Depot Offer

Home Depot offers a wide variety of home improvement and construction products, including:

  • Building materials – lumber, drywall, roofing, etc.
  • Hardware – tools, fasteners, electrical supplies, plumbing supplies, etc.
  • Kitchen and bath products – cabinets, sinks, faucets, appliances, etc.
  • Flooring and paint – flooring, paint, stains, caulk, etc.
  • Lawn and garden – outdoor power equipment, gardening supplies, patio furniture, etc.
  • Indoor and outdoor decor – lighting, ceiling fans, home accents, etc.
  • Appliances – refrigerators, washers/dryers, dishwashers, etc.
  • Home improvement supplies – insulation, caulk, adhesives, etc.
  • In addition to selling these physical products, Home Depot also offers various services such as installation, home delivery, and credit card services to support its customers’ home improvement needs.
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