Question 1

What is Home Depot's P/B ratio?

Accepted Answer

Home Depot (HD) P/B ratio is 23.8× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Home Depot?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Home Depot specifically, the relevant sector benchmark is the current sector median of 4.3×.

Question 5

Is Home Depot's P/B ratio high or low?

Accepted Answer

Home Depot's P/B ratio of 23.8× is below its own 5-year average of 248.4× and above the sector median of 4.3×. That places the current reading at the 2th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Home Depot's historical P/B ratio range?

Accepted Answer

In the available daily series, Home Depot (HD) P/B ratio has ranged from a low of 2.0× in 2008 to a high of 1370.0× in 2022. The 5-year average is 248.4× and the 5-year median is 175.2×.

Question 7

What was Home Depot's P/B ratio in 2026?

Accepted Answer

Home Depot (HD) P/B ratio at the end of 2026 was 29.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Home Depot's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2026	$375B	$12.8B	29.3×	-31.7×	Feb 1, 2026
2025	$405B	$6.64B	61.0×	-274.0×	Feb 2, 2025
2024	$350B	$1.04B	335.0×	+124.4×	Jan 31, 2024
2023	$329B	$1.56B	210.6×	—	Jan 31, 2023
2022	$381B	-$1.7B	—	—	Jan 31, 2022
2021	$290B	$3.3B	87.9×	—	Jan 31, 2021
2020	$247B	-$3.12B	—	—	Jan 31, 2020
2019	$205B	-$1.88B	—	—	Jan 31, 2019
2018	$233B	$1.45B	160.3×	+122.0×	Jan 31, 2018
2017	$166B	$4.33B	38.3×	+13.2×	Jan 31, 2017
2016	$158B	$6.32B	25.1×	+10.4×	Jan 31, 2016
2015	$136B	$9.32B	14.6×	+6.1×	Jan 31, 2015
2014	$106B	$12.5B	8.5×	+2.9×	Jan 31, 2014
2013	$99B	$17.8B	5.6×	+1.8×	Jan 31, 2013
2012	$68B	$17.9B	3.8×	+0.6×	Jan 31, 2012
2011	$59.6B	$18.9B	3.2×	+0.7×	Jan 31, 2011
2010	$47.7B	$19.4B	2.5×	+0.4×	Jan 31, 2010
2009	$36.2B	$17.8B	2.0×	-0.8×	Jan 31, 2009
2008	$51B	$17.7B	2.9×	-0.4×	Jan 31, 2008
2007	$81.2B	$25B	3.2×	+0.1×	Jan 31, 2007
2006	$85.8B	$26.9B	3.2×	-0.5×	Jan 31, 2006
2005	$90.3B	$24.2B	3.7×	+0.2×	Jan 31, 2005
2004	$80.3B	$22.4B	3.6×	+1.2×	Jan 31, 2004
2003	$48.1B	$19.8B	2.4×	—	Jan 31, 2003


Aureus Greenway Holdings (PUSA)	3.6×
Genuine Parts (GPC)	3.6×
Norwegian Cruise Line (NCLH)	3.5×
V.F. (VFC)	3.5×
Lululemon Athletica (LULU)	3.1×
Carnival Corporation (CCL)	2.9×
Ball (BALL)	2.8×
PDD Holdings (PDD)	2.3×
GameStop (GME)	2.0×
XPeng (XPEV)	2.0×
D.R. Horton (DHI)	2.0×
Alibaba (BABA)	1.9×
Li Auto (LI)	1.8×
Amcor (AMCR)	1.7×
Toll Brothers (TOL)	1.6×
Lucid Group (LCID)	1.5×
Leggett & Platt (LEG)	1.3×
Weyco Group (WEYS)	1.2×
Ford Motor (F)	1.2×
LKQ (LKQ)	1.2×
General Motors (GM)	1.1×
Smurfit Westrock (SW)	1.1×
Lennar (LEN)	1.0×
KB Home (KBH)	0.8×
Mohawk Industries (MHK)	0.7×

P/B Ratio for Home Depot (HD) 2003-2026

P/B Ratio daily chart for Home Depot (HD)

Historical P/B Ratio for Home Depot (HD) from 2003 to 2026

About P/B Ratio at Home Depot (HD)

Home Depot P/B Ratio by Year

Home Depot P/B Ratio 2026: 29.3×

Home Depot P/B Ratio 2025: 61.0×

Home Depot P/B Ratio 2024: 335.0×

Home Depot P/B Ratio 2023: 210.6×

Home Depot P/B Ratio 2021: 87.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Home Depot (HD) Key Financials