Home Depot (HD) has lost nearly 30% from its high, and the usual explanation is housing. Turnover is near multi-decade lows, mortgages are back above 7%, and customer transactions have been negative since 2022. All true, and all beside the point. The operations are holding up better than the share price suggests. Gross margin has sat in a 33–34% band…
Home Depot at $293: The Number That Actually Sets the Price
This report is for members
The full analysis — model, valuation, scenarios and risks — plus the downloadable PDF, come with a Standard or Full membership.