The Home Depot, Inc. (HD): Business Model Canvas [Jan-2025 Mise à jour]

Le Home Depot, Inc. (HD) est un titan dans le paysage de la vente au détail de rénovation domiciliaire, transformant la façon dont les consommateurs et les professionnels abordent la construction, la rénovation et les projets de bricolage. Avec un modèle commercial complet qui s'étend 2 300+ magasins À travers l'Amérique du Nord, la société a développé stratégiquement un écosystème qui répond à divers besoins des clients grâce à des stratégies de vente au détail innovantes, à des plateformes numériques de pointe et à un vaste réseau de partenariats. En mélangeant de manière transparente des expériences d'achat physiques et en ligne, le Home Depot a créé un cadre robuste qui offre une valeur inégalée aux amateurs de bricolage, aux entrepreneurs professionnels et aux clients commerciaux, ce qui rend l'amélioration de la maison accessible, pratique et autonomisant.

The Home Depot, Inc. (HD) - Modèle d'entreprise: partenariats clés

Réseau de fournisseurs

Home Depot maintient un réseau de fournisseurs robuste avec des fabricants et des marques clés:

Catégorie des fournisseurs	Grandes marques	Valeur de l'offre annuelle
Appareils	Whirlpool Corporation	3,2 milliards de dollars
Outils électriques	Stanley Black & Jetant	2,7 milliards de dollars
Équipement extérieur	Groupe Husqvarna	1,5 milliard de dollars

Partenariats des fabricants stratégiques

Les collaborations exclusives de la gamme de produits comprennent:

• Ligne d'outils électriques exclusive Ryobi
• Marque de marque privée HDX
• Partenariat de marque Husky Tool

Réseau de collaboration entre les entrepreneurs

Le réseau professionnel de Home Depot comprend:

• Programme de fidélité Pro Xtra avec 1,7 million d'entrepreneurs enregistrés
• Ventes annuelles axées sur les entrepreneurs: 25,3 milliards de dollars
• Canaux d'approvisionnement directes d'entreprise à entreprise

Partenariats technologiques

Partenaire technologique	Focus de partenariat	Investissement
Microsoft Azure	Infrastructure cloud	47 millions de dollars
SÈVE	Planification des ressources d'entreprise	38 millions de dollars
Google Cloud	Intégration de la plate-forme numérique	42 millions de dollars

The Home Depot, Inc. (HD) - Modèle d'entreprise: activités clés

Ventes de produits de rénovation de maison au détail

Au cours de l'exercice 2023, Home Depot a déclaré des ventes totales de 157,4 milliards de dollars. La société exploite 2 317 magasins de détail en Amérique du Nord, avec 1 964 magasins aux États-Unis, 214 au Canada et 139 au Mexique.

Catégorie de vente	Revenus (2023)
Ventes totales de détail	157,4 milliards de dollars
Clients de bricolage	106,1 milliards de dollars
Clients professionnels	51,3 milliards de dollars

Gestion de la plate-forme de commerce électronique

Les ventes en ligne de Home Depot ont atteint 30,8 milliards de dollars au cours de l'exercice 2023, ce qui représente 19,6% du total des ventes.

• Croissance des ventes numériques de 6,5% en 2023
• Plus d'un million de réseaux en ligne disponibles
• Services de livraison et de ramassage le jour même dans 90% des emplacements des magasins

Inventaire et optimisation de la chaîne d'approvisionnement

La société maintient une chaîne d'approvisionnement sophistiquée avec 24 centres de distribution à travers l'Amérique du Nord.

Métrique de la chaîne d'approvisionnement	Valeur
Centres de distribution	24
Rétallage des stocks annuels	5.2x
Valeur d'inventaire	27,1 milliards de dollars

Prise en charge du service client et de l'installation des produits

Home Depot propose des services d'installation complets dans plusieurs catégories de produits.

• Services d'installation disponibles pour le revêtement de sol, la cuisine, la salle de bain et les projets extérieurs
• Plus de 1 300 professionnels de l'installation certifiés
• Revenus d'installation estimés: 5,6 milliards de dollars en 2023

Stockage des stratégies d'opérations et d'expansion

Au cours de l'exercice 2023, Home Depot a investi 2,4 milliards de dollars dans les dépenses en capital pour les améliorations et l'expansion des magasins.

Métrique opérationnelle	Valeur
Total des magasins	2,317
Dépenses en capital	2,4 milliards de dollars
Taille moyenne du magasin	105 000 pieds carrés

The Home Depot, Inc. (HD) - Modèle d'entreprise: Ressources clés

Réseau de vente au détail

En 2023, Home Depot exploite 2 317 magasins en Amérique du Nord, avec une ventilation comme suit:

Région	Nombre de magasins
États-Unis	1,930
Canada	182
Mexique	205

Reconnaissance de la marque et performance financière

Métriques financières démontrant la force de la marque:

• Revenus annuels (2023): 157,4 milliards de dollars
• Capitalisation boursière: environ 320 milliards de dollars
• Classement de la valeur de la marque: # 23 dans les marques les plus précieuses de Forbes World (2023)

Infrastructure technologique

Investissement numérique et capacités technologiques:

• Croissance des ventes de commerce électronique: 16,3% en 2023
• Ventes numériques: 29,8 milliards de dollars
• Téléchargements d'applications mobiles: plus de 50 millions

Composition de la main-d'œuvre

Catégorie des employés	Nombre
Total des employés	475,000
Employés à temps plein	341,000
Employés à temps partiel	134,000

Chaîne d'approvisionnement et distribution

Détails de l'infrastructure de distribution:

• Centres de distribution totaux: 24
• Total Distribution Center en pieds carrés: 147 millions
• Valeur d'inventaire annuelle: 26,5 milliards de dollars

The Home Depot, Inc. (HD) - Modèle d'entreprise: propositions de valeur

Shopping à guichet unique pour les besoins de rénovation et de construction à domicile

Le Home Depot propose plus de 1,5 million de SKU de produits dans 4 250 magasins de détail en Amérique du Nord en 2023. La valeur annuelle des stocks de produits a atteint 25,4 milliards de dollars au cours de l'exercice 2022.

Catégorie de produits	Volume des ventes annuelles
Matériaux de construction	38,5 milliards de dollars
Décoration intérieure	22,3 milliards de dollars
Outils & Matériel	31,7 milliards de dollars

Prix ​​compétitifs et variété de produits

Plage de prix moyen du produit à toutes les catégories: 5 $ - 5 000 $. Garantie de correspondance des prix mise en œuvre sur plus de 40 000 gammes de produits.

• Match des prix contre 12 concurrents majeurs
• Garantie de prix la plus basse avec 10% de rabais supplémentaire
• Plus d'un million de listes de produits en ligne

Conseils d'experts et connaissances sur les produits

Emploi de 475 000 associés à une formation spécialisée. Heures de formation des produits moyennes: 40 heures par association par an.

Service expert	Interactions annuelles du client
Consultation de produits en magasin	52 millions
Assistance technique en ligne	18,3 millions

Expériences d'achat pratiques en ligne et en magasin

Les ventes de commerce électronique ont atteint 22,9 milliards de dollars en 2022, ce qui représente 14,2% du total des revenus de l'entreprise.

• Téléchargements d'applications mobiles: 42 millions
• Suivi des stocks en temps réel
• Livraison le jour même sur 1 500 marchés

Solutions client bricolage et professionnelles

Le segment de clientèle professionnel représente 45% du total des revenus annuels, environ 71,3 milliards de dollars en 2022.

Segment de clientèle	Dépenses annuelles
Entrepreneurs professionnels	45,6 milliards de dollars
Clients de bricolage individuels	25,7 milliards de dollars

The Home Depot, Inc. (HD) - Modèle d'entreprise: relations avec les clients

Support client et consultation en magasin

Home Depot emploie environ 475 000 associés dans 2 317 magasins en Amérique du Nord en 2023. Le soutien en magasin comprend:

• Spécialistes formés dans des départements comme le revêtement de sol, la peinture, l'électricité et la plomberie
• Expertise des produits et services de consultation personnalisés
• Mesures gratuites sur place pour les installations de cuisine et de revêtements de sol

Métrique du support client	2023 données
Personnel du magasin moyen	180-220 associés par magasin
Heures de formation du service à la clientèle	40 à 60 heures par associé par an

Support en ligne via le site Web et les plateformes mobiles

Les canaux de support numériques comprennent:

• Assistance de chat en ligne 24/7
• Application mobile avec 25 millions d'utilisateurs actifs
• Temps de réponse de la prise en charge de l'e-mail: 24-48 heures

Canal de support numérique	Statistiques d'utilisation
Visiteurs mensuels du site Web	55 millions de visiteurs uniques
Téléchargements d'applications mobiles	Plus de 35 millions de téléchargements

Ateliers de bricolage et ressources éducatives

Home Depot propose des ressources d'apprentissage complètes:

• Ateliers mensuels gratuits en magasin
• Plus de 2 000 vidéos de tutoriel sur le site Web
• Calculateurs de projet et outils de conception

Ressource éducative	2023 données
Participants annuels des ateliers	1,5 million de clients
Vues du tutoriel YouTube	500 millions de vues cumulatives

Programme de fidélité (Home Depot Pro Rewards)

Programmes de récompenses Pro:

• Plus de 2 millions de membres professionnels enregistrés
• 5% de cashback sur les achats éligibles
• Options de financement exclusives

Métrique du programme de fidélité	2023 données
Membres totaux de récompenses professionnelles	2,3 millions de professionnels
Impact annuel des revenus du programme	18,5 milliards de dollars

Service client et support technique

Les canaux de soutien complets comprennent:

• Prise en charge du téléphone: numéro 1 à 800
• Services de consultation à domicile
• Services d'installation et de réparation

Canal de support	Métrique de performance
Appels de service annuels	12,5 millions
Évaluation de satisfaction du client	4.2/5

The Home Depot, Inc. (HD) - Modèle d'entreprise: canaux

Magasins de vente au détail physique

En 2023, le Home Depot exploite 2 317 magasins de détail à travers l'Amérique du Nord. La ventilation du magasin comprend:

Magasins américains	2,191
Magasins du Canada	182
Mexique	44

Site Web de commerce électronique

Les ventes en ligne du Home Depot ont atteint 27,5 milliards de dollars au cours de l'exercice 2022, ce qui représente 14,3% du total des ventes d'entreprises.

• Trafficage du site Web: environ 1,5 milliard de visites annuelles
• Catalogue de produits en ligne: plus de 1,5 million de SKU

Application mobile

Statistiques des applications mobiles pour 2023:

Total des téléchargements d'applications	55 millions
Utilisateurs actifs mensuels	22 millions

Assistance des ventes téléphoniques

Statistiques du centre d'appels du service client:

• Volume d'appel annuel: 75 millions d'interactions client
• Temps de réponse moyen: 45 secondes

Services d'installation et de livraison

Métriques de service pour 2022:

Services d'installation totaux	5,3 milliards de dollars
Camions de livraison	4,200
Livraisons annuelles	12 millions

The Home Depot, Inc. (HD) - Modèle d'entreprise: segments de clientèle

Les propriétaires de bricolage

Représente environ 42% de la clientèle totale de Home Depot. Les dépenses annuelles moyennes pour le propriétaire du bricolage: 1 247 $. Déchange démographique:

Groupe d'âge	Pourcentage	Dépenses annuelles moyennes
25-34 ans	18%	$987
35 à 49 ans	34%	$1,456
50-64 ans	28%	$1,623
65 ans et plus	20%	$876

Entrepreneurs professionnels

Comprend 35% des segments de clients de Home Depot. Revenus annuels de ce segment: 43,2 milliards de dollars.

• Volume d'achat annuel moyen: 78 500 $ par entrepreneur
• Segments commerciaux primaires:

Segment commercial	Pourcentage	Dépenses annuelles moyennes
Entrepreneurs généraux	42%	$95,600
Entrepreneurs spécialisés	33%	$62,300
Sous-traitants	25%	$45,200

Activités de construction et de rénovation

Représente 15% de la clientèle totale. Revenu annuel du segment: 22,7 milliards de dollars.

• Gamme de taille commerciale typique: 5-50 employés
• Volume d'achat annuel moyen: 215 000 $

Sociétés de gestion immobilière

Représente 6% des segments de clientèle de Home Depot. Revenu annuel du segment: 9,1 milliards de dollars.

Taille de l'entreprise	Pourcentage	Dépenses annuelles moyennes
Petits (1-10 propriétés)	45%	$37,500
Moyen (11-50 propriétés)	35%	$86,200
Grands (51+ propriétés)	20%	$215,000

Clients institutionnels et commerciaux

Représente 2% de la clientèle. Revenu annuel du segment: 3,6 milliards de dollars.

• Comprend les agences gouvernementales, les écoles, les hôpitaux
• Volume d'achat annuel moyen: 425 000 $

The Home Depot, Inc. (HD) - Modèle d'entreprise: Structure des coûts

Opérations et entretien des magasins

Coûts annuels d'entretien et d'exploitation des magasins: 4,8 milliards de dollars en 2022

Catégorie de coûts	Dépenses annuelles
Services publics	1,2 milliard de dollars
Réparations des installations	680 millions de dollars
Frais de location	1,5 milliard de dollars

Salaire et formation des employés

Total des coûts de main-d'œuvre en 2022: 27,5 milliards de dollars

• Salaire horaire moyen: 23,47 $
• Investissement de formation annuelle: 250 millions de dollars
• Nombre total d'employés: 475 000

Marchandage des stocks

Coûts d'achat de stock annuels: 51,3 milliards de dollars en 2022

Catégorie de produits	Dépenses d'approvisionnement
Matériaux de construction	18,7 milliards de dollars
Fournitures de rénovation domiciliaire	16,5 milliards de dollars
Appareils	9,2 milliards de dollars

Investissements technologiques et plate-forme numérique

Dépenses technologiques annuelles: 1,9 milliard de dollars en 2022

• Développement de la plate-forme de commerce électronique: 650 millions de dollars
• Investissements en cybersécurité: 220 millions de dollars
• Mises à niveau des infrastructures numériques: 430 millions de dollars

Dépenses de marketing et de publicité

Budget marketing total en 2022: 1,1 milliard de dollars

Canal de marketing	Frais
Publicité numérique	480 millions de dollars
Médias traditionnels	370 millions de dollars
Promotions en magasin	250 millions de dollars

The Home Depot, Inc. (HD) - Modèle d'entreprise: Strots de revenus

Ventes de produits au détail

Pour l'exercice 2023, le Home Depot a déclaré des ventes nettes totales de 157,4 milliards de dollars. Répartition des ventes de marchandises:

Catégorie de produits	Pourcentage de ventes
Matières à bois et de construction	22.3%
Décoration et lignes durables	19.7%
Plomberie et électricité	16.5%
Cuisine et bain	14.2%
Sol	12.6%
Peinture	8.7%

Frais d'installation et de service

Les services d'installation ont généré 2,1 milliards de dollars de revenus pour l'exercice 2023. Les offres de services comprennent:

• Services d'installation domestique
• Installation de l'appareil
• Installation de revêtements de sol
• Remodelage de la cuisine et de la salle de bain

Ventes d'entrepreneurs professionnels

Les ventes de segments Pro ont atteint 30,8 milliards de dollars au cours de l'exercice 2023, ce qui représente 19,6% du total des ventes d'entreprises.

Segment de clientèle professionnel	Dépenses annuelles
Petits entrepreneurs	15,4 milliards de dollars
Grands entrepreneurs commerciaux	10,2 milliards de dollars
Professionnels de la maintenance	5,2 milliards de dollars

Commissions de marché en ligne

Les ventes de commerce électronique ont totalisé 23,4 milliards de dollars au cours de l'exercice 2023, ce qui représente 14,9% du total des ventes nettes.

Plans de garantie et de protection prolongés

Le plan de protection et les revenus de garantie prolongée se sont élevés à environ 1,5 milliard de dollars au cours de l'exercice 2023.

Type de plan de protection	Revenus moyens
Plans de protection de l'appareil	650 millions de dollars
Plans de protection des outils	450 millions de dollars
Garantie d'installation	300 millions de dollars

The Home Depot, Inc. (HD) - Canvas Business Model: Value Propositions

For Pros: Job-lot quantities, dedicated service, and same/next-day delivery.

The Home Depot, Inc. is heavily focused on capturing a greater share of the professional contractor wallet, which now accounts for over 50% of the company\'s sales. Targeted investments in the Pro ecosystem are yielding results, with Pro sales outpacing DIY sales in the first quarter of fiscal 2025.

Pro Value Proposition Element	Quantifiable Metric/Data Point
Logistics Network Scale (Post-Acquisitions)	1,200+ facility logistics network for same-day delivery.
Delivery Fleet Size	8,000 trucks supporting the logistics network.
Incremental Sales from Pro Experience Investment (as of Q4 2024)	More than $1 billion in annual incremental sales across 17 markets.
Total Addressable Market Expansion	Acquisitions expanded TAM by $50 billion, to about $1 trillion.
New Store Expansion in 2025	Plans to open approximately 13 new stores in 2025.

For DIY: Broadest product selection and expert project advice.

The Home Depot, Inc. maintains a broad assortment, though recent financial data shows softness in larger discretionary projects for DIY customers due to ongoing pressure in housing and high interest rates. Big-ticket transactions over $1,000 declined 6.5% year-over-year in Q1 2024. The company is using generative AI tools like Magic Apron to help shoppers get instant answers on products and projects.

For All: Competitive pricing and an interconnected shopping experience.

The interconnected experience is supported by digital sales growth, which was about 8% year-over-year in Q1 2025. The company reported net sales of nearly $41.4 billion in the third quarter of fiscal 2025, up 2.8% year-over-year. The initial fiscal 2025 guidance projected total sales growth of approximately 2.8% based on a comparable 52-week period against the 53-week fiscal 2024. The company is focused on pricing discipline, which contributed to Q2 2025 revenue of $45.3 billion (a 4.9% YoY growth).

Installation and repair services (Do-It-For-Me or DIFM).

The Home Depot, Inc. sees sustained demand for professional installation services. The company is enhancing its ecosystem of capabilities to better serve the Pro working on complex projects, aiming to be the one-stop shop from initial planning to material delivery, saving Pros time and money.

Convenience via in-store pickup and online ordering.

Friction removal in the shopping experience is driving engagement. Faster delivery speeds, fueled by using both distribution centers and stores, drove a more than 4% increase in customer satisfaction scores in the third quarter of fiscal 2025. Customers who utilize faster delivery options see a double-digit increase in spending and shop more frequently in-store as well as online. Nearly 40% of consumers are now click-and-mortar shoppers, using both digital and physical channels.

• The Home Depot, Inc. is transitioning 100% of its appliance deliveries to its market delivery network.
• The company achieved its fastest ever delivery speeds across the greatest number of products during the second quarter of 2025.

The Home Depot, Inc. (HD) - Canvas Business Model: Customer Relationships

The Home Depot, Inc. focuses its customer relationships on a dual strategy: deep, dedicated support for its professional (Pro) segment and seamless, friction-reducing experiences for the do-it-yourself (DIY) customer.

Dedicated Pro-desk and Pro Xtra loyalty program for contractors

The Pro segment is the bedrock of The Home Depot, Inc.'s high-value transactions, representing over 50% of total sales while comprising only about 10% of the customer base. Investments in this ecosystem have driven over $1 billion in annual incremental sales across 17 markets. The Pro Xtra loyalty program, which added tiered memberships (Member, Elite, and VIP) in January 2023, is central to this relationship.

The structure of Pro Xtra rewards includes:

• Paint Rewards offering up to 20% savings on paints and primers.
• Access to specialized rental equipment and integrations with construction management software.
• Features like Pro Allowance for pre-set user spend limits.
• The Path to Pro Network for connecting Pros with job seekers.

The Home Depot, Inc. is actively removing friction for this segment; comparable pro sales outpaced comparable sales to DIY customers during the fourth quarter of 2024.

Pro Xtra Tier	Key Benefit Example	Spend Requirement Context
Member	Access to Paint Rewards	Entry-level enrollment
Elite	New Elite Support Line	Unlocks with increased spending
VIP	Account management services	Highest spending level achieved

Self-service options via mobile app and in-store kiosks

Digital engagement continues to grow, evidenced by The Home Depot, Inc.'s online sales increasing about 11% year-over-year in fiscal Q3 2025. The retailer has seen a 25% increase in online orders for curbside pickup shortly after its introduction. Digital sales in Q1 2025 rose about 8% year-over-year.

High-touch, expert assistance from in-store associates

Customer loyalty, measured by the Net Promoter Score (NPS) in Q1 2025, stands at 43, which is above the retail industry average of 37. This score reflects a customer base where 57% are Promoters (likely to recommend). The company has also implemented an in-store customer-focused manager role to drive success with pros.

The breakdown of customer sentiment as of Q1 2025:

• Promoters: 57%
• Passives: 29%
• Detractors: 14%

Installation services for complex projects like flooring and water heaters

While large, financed remodels have been softer due to macroeconomic conditions, The Home Depot, Inc. is integrating services to support complex projects. The acquisition of SRS Distribution, completed in 2024, is specifically helping to expand trade credit offerings and streamline ordering and delivery for contractors.

Digital personalization and targeted offers based on purchase history

Personalization is integrated across channels. The Pro Xtra program allows members to track their color history and save favorite items. Furthermore, the launch of the 'Magic Apron' generative AI assistant in March 2025 provides 24/7 project guidance and product recommendations, enhancing online sales engagement.

Finance: draft 13-week cash view by Friday.

The Home Depot, Inc. (HD) - Canvas Business Model: Channels

The Home Depot, Inc. deploys a sophisticated omnichannel approach to reach its diverse customer base, blending its massive physical footprint with significant digital investments.

Physical big-box retail stores (primary sales channel).

The physical store network remains the backbone of The Home Depot, Inc.'s channel strategy, serving both Do-It-Yourself (DIY) and Professional (Pro) customers, though foot traffic shows a shift in engagement patterns.

As of the first quarter ending May 4, 2025, The Home Depot, Inc. operated a total of 2,350 stores globally.

Here is the breakdown of the store count as of that date:

Region	Number of Stores (as of Q1 2025)
United States	2,028
Canada	182
Mexico	140

The company continued its physical expansion in 2025, planning to open approximately 13 new stores for the fiscal year 2025, following the opening of 12 new stores in fiscal 2024. As of October 15, 2025, there were 2,021 stores specifically in the United States. However, in-store engagement is evolving; foot traffic saw a decline of 4.2% year-over-year in Q1 2025.

E-commerce platform (homedepot.com) for online sales.

The homedepot.com platform is a critical revenue driver, with digital sales growing at an accelerated pace relative to total sales.

For the fiscal third quarter ending November 2, 2025, The Home Depot, Inc. grew its online sales by about 11% year-over-year, which was more than three times the rate of total sales growth for that quarter. In fiscal 2024, the annual sales (GMV) for homedepot.com reached $21,099 million. The conversion rate on the platform in 2024 was in the range of 2.5-3.0%.

Mobile application for ordering, inventory check, and Pro services.

The mobile application is central to the omnichannel experience, supporting research, ordering, and Pro-specific functions.

The Home Depot, Inc. is seeing strong growth in the use of its mobile shopping tools, which aligns with the general trend where shoppers research products online before purchasing. Smartphones are the primary device for users to research and purchase, generating more sales than tablets on Black Friday. The company is focused on leveraging AI to enhance features like chat within the app.

• Mobile app usage is contributing to strong growth in online orders and curbside pickup options.
• 39 percent of U.S. consumers list physical stores as one of their top three locations to browse on a mobile device, showing the crossover importance.

Direct-to-jobsite delivery via expanded distribution network.

The investment in logistics infrastructure is specifically designed to serve the high-value Pro customer with reliable, direct delivery options.

The company is expanding its Flatbed Distribution Centers (FDCs) to support this channel. The original plan, announced in 2020, aimed to build about 150 FDCs to facilitate same- and next-day delivery to 90% of U.S. customers. This network helps deliver larger orders, such as lumber and building materials, directly to job sites. The acquisition of SRS Distribution in June 2024, valued at about $18.25 billion, significantly bolstered this capability by adding a powerful footprint in specialty building supplies. The U.S. pro builder market is estimated by The Home Depot, Inc. to be over $450 billion annually.

Third-party delivery platforms (e.g., Instacart in Canada).

The Home Depot, Inc. partners with third-party last-mile providers to enhance its overall delivery experience for customers.

While specific, current financial contribution figures for third-party platforms like Instacart are not publicly detailed for late 2025, the strategy involves partnering with these providers to make progress on the delivery experience.

The Home Depot, Inc. (HD) - Canvas Business Model: Customer Segments

You're looking at the core customer groups The Home Depot, Inc. serves as of late 2025. This segmentation is key because the needs of a professional remodeler are miles apart from someone replacing a leaky faucet, so the company tailors its entire operation to serve both effectively.

The Customer Segments are clearly defined, though the lines between the professional and retail sides continue to blur with specialized services and digital tools.

• Professional Contractors (Pro) driving over 50% of sales.
• Do-It-Yourself (DIY) homeowners for smaller, non-discretionary projects.
• Do-It-For-Me (DIFM) customers utilizing installation services.
• Property managers and institutional customers (B2B).
• Homeowners aged 30-65 with moderate to high income.

The Pro segment remains the most critical growth engine, especially following major acquisitions. For instance, in the third quarter of fiscal 2025, total sales reached $41.4 billion, and the company noted that sales to Pros grew faster than sales to DIY customers in Q1 2025. Furthermore, big ticket comp transactions (over $1,000), which often correlate with Pro activity, were up 2.3% in Q3 2025.

The DIFM segment is intertwined with the overall service offering, catering to customers who want the project done without doing the labor themselves. The company also serves institutional buyers, which are increasingly being integrated through specialized distribution arms like the acquired GMS Inc., which contributed approximately $900 million to total sales in Q3 2025.

The core DIY and homeowner demographic is currently cautious, prioritizing smaller, essential repairs over large renovations due to economic conditions like high interest rates.

Here's a quick look at the financial context surrounding these segments based on recent performance:

Segment Indicator	Latest Reported Metric (Q3 FY2025)	Context/Related Data Point
Total Company Sales	$41.4 billion	Total sales for the third quarter of fiscal 2025.
Pro-Heavy Categories Strength	Positive Comps	Building materials, lumber, and hardware saw strength in Q1 2025, while discretionary projects were softer.
Big Ticket Transactions (>$1,000)	Up 2.3%	Indicates selective spending, often by higher-income consumers or Pros, in Q3 2025.
Digital Sales Growth	Up approximately 11%	Total company online comp sales growth in Q3 2025.
Core Demographic Age Range	Aged 30 to 65	The typical core demographic, often homeowners with moderate to high income.
Acquisition Impact (B2B/Pro Focus)	$900 million incremental sales	Contribution from GMS Inc. to Q3 2025 total sales.

The Home Depot, Inc. operates a vast network to support these groups, with 2,356 retail stores across the U.S. at the end of Q3 2025, plus over 1,200 SRS locations. This physical footprint is essential for serving both the immediate needs of the DIYer and the job-site demands of the Pro customer.

The Home Depot, Inc. (HD) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive The Home Depot's operations as of late 2025. Honestly, for a retailer this size, the cost structure is dominated by the sheer volume of goods they move.

Cost of Goods Sold (COGS) is the single largest drain on revenue, which is just the nature of the business. If the Gross Margin is guided to be approximately 33.4% for fiscal year 2025, that means the cost to acquire the products sold-lumber, tools, appliances, and everything else-is consuming roughly 66.6% of every sales dollar before they even cover overhead. This margin figure is critical because it shows the pricing power and sourcing efficiency The Home Depot maintains against inflation and supplier costs.

The company is making significant, planned outlays to keep its logistics modern. Capital Expenditures (CapEx) are budgeted at approximately 2.5% of total sales for fiscal 2025. This investment isn't just for new stores; it's heavily weighted toward supply chain automation and technology upgrades to reduce future handling costs and speed up delivery, especially for the Pro segment.

Store operations and labor are massive fixed and semi-variable costs. The Home Depot employs over 470,000 associates as of the second quarter of 2025, and this workforce supports their 2,353 retail stores operating at the end of Q2 2025. These associate costs cover everything from in-store customer service to managing the complex inventory flow.

To keep the pipeline full and the brand top-of-mind for both Pros and DIYers, marketing and advertising expenses are a necessary, ongoing cost. While the exact dollar amount isn't always broken out in the guidance summary, it's a substantial line item used to drive traffic and support the Pro ecosystem expansion, which includes the recent GMS integration.

Finally, the cost of capital itself shows up in the financials. The guidance for fiscal 2025 includes a projected Net Interest Expense of approximately $2.2 billion. This reflects the cost of servicing the debt used to fund operations, share repurchases, and major strategic moves like the GMS acquisition.

Here's a quick look at some of the key financial guidance points impacting the cost side for FY2025:

Cost/Expense Metric	FY2025 Guidance/Estimate
Gross Margin Percentage	33.4%
Implied COGS Percentage	Approximately 66.6%
Capital Expenditures (as % of Sales)	Approximately 2.5%
Net Interest Expense	Approximately $2.2 billion
Associate Count (Approximate)	Over 470,000

You can see the pressure points clearly when you look at the components:

• Cost of Goods Sold: The largest component by far.
• Labor: Covering over 470,000 associates across the network.
• Technology/Supply Chain Investment: Capped at about 2.5% of sales for CapEx.
• Financing Costs: Interest expense projected around $2.2 billion.

If onboarding takes 14+ days, churn risk rises, which directly impacts those labor costs.

The Home Depot, Inc. (HD) - Canvas Business Model: Revenue Streams

The revenue streams for The Home Depot, Inc. are fundamentally built on high-volume, multi-channel merchandise sales, increasingly supplemented by professional services and strategic acquisitions.

Core retail sales of merchandise represent the bulk of the income, covering a vast assortment of tools, building materials, home improvement products, lawn and garden items, and décor. For context on the composition of these sales, in fiscal year 2024, the product segments showed this distribution:

Product Segment	Fiscal Year 2024 Revenue	Percentage of Total Revenue (Approximate)
Major Product Line - Building Materials	$52.76 B	31.8%
Major Product Line, Décor	$51.79 B	31.21%
Major Product Line - Hardlines	$48.56 B	29.27%
Other Operating Segment	$6.41 B	3.86%

Sales to Professional Contractors (Pro) via bulk and recurring orders are a critical, faster-growing component. The acquisition of SRS Distribution in fiscal 2024, which contributed $6.4 billion in sales for the seven months under ownership in that year, significantly bolstered this segment. For fiscal year 2025, the acquired GMS business is expected to contribute approximately $2.0 billion in incremental sales. In the first quarter of fiscal 2025, sales to Pros grew faster than sales to DIY customers.

E-commerce sales through homedepot.com and the mobile app show strong growth momentum. In the second quarter of fiscal 2025, online sales increased 12% year over year. For the third quarter of fiscal 2025, online sales grew at more than three times the rate of total sales, increasing about 11% year over year. For the full fiscal year 2024, online sales on homedepot.com amounted to US$21,099 million.

Revenue from installation and home services (DIFM) is integrated into the overall service offering, often bundled with Pro sales or larger projects. While specific standalone figures for DIFM revenue aren't isolated in the latest reports, the focus on growing the Pro ecosystem, which includes distribution and services, is a key driver.

The overall expectation for the top line is captured in the latest guidance. The Home Depot, Inc. updated its fiscal 2025 guidance to reflect a Total sales growth of approximately 3.0% for the 52-week year compared to the 53-week fiscal 2024. This compares to the Q2 reaffirmation of 2.8% total sales growth.

Key revenue stream metrics as of late 2025 guidance include:

• Total sales growth projected for fiscal year 2025: approximately 3.0%.
• Comparable sales growth projected for fiscal year 2025: slightly positive.
• Third quarter fiscal 2025 total sales reported: $41.4 billion.
• Third quarter fiscal 2025 total sales growth: 2.8% year-over-year.
• Expected GMS contribution to fiscal 2025 total sales: approximately $2.0 billion.