This is evidenced by its interim results, as published yesterday, which show a 7% increase in sales. Admittedly, this growth is not reflected in operating income, which rose by only 0.6%, penalized by high inflation in operating expenses.

It also stems largely from the opening of 13 new stores rather than an increase in same-store sales, although this indicator is showing signs of recovery, up 0.4% in H1 after the slump seen in the same period last year.

The rebound has been confirmed by the company's CEO, Edward Decker, who says that Q2 this year is the best in two years. After a peak in activity during the pandemic, the economic situation indeed deteriorated significantly.

Home Depot has doubled its revenue and operating profit over the last decade. Dividend payments have tripled and massive share buybacks have been carried out throughout the period at an average valuation of 20x earnings.

In this respect, the number of shares outstanding has been reduced by a quarter, so that EPS has risen from $5.5 in 2016 to $15 in 2025, with its dividend up from $2.5 to $9.1 over the full cycle: the share price's performance reflects this flawless management.

The brand's valuation, renowned as the leading retailer of discretionary consumer goods in the United States, is thus close to its historic highs of 30x earnings, a level it has reached several times in the past.