Total Operating Expenses
Home Depot Total Operating Expenses decreased by 1.3% to $8.46B in Q3 2025 compared to the prior quarter. Year-over-year, this metric grew by 5.7%, from $8.01B to $8.46B. Over 3 years (FY 2022 to FY 2025), Total Operating Expenses shows an upward trend with a 4.6% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
Rising expenses without a corresponding rise in revenue can indicate operational bloat or aggressive expansion efforts.
Detailed definition
The sum of all costs required to run the business that are not directly tied to production, including R&D and SG&A. It r...
Peer comparison
Investors compare this to revenue to assess the 'operating leverage' of a business model.
total_operating_expensesHistorical Data
| Q1 '21 | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $6.96B | $7.03B | $6.77B | $7.04B | $7.22B | $7.27B | $7.08B | $7.17B | $7.01B | $7.57B | $7.33B | $7.37B | $7.35B | $7.88B | $8.01B | $8.54B | $8.33B | $8.57B | $8.46B |
| QoQ Change | — | +0.9% | -3.7% | +4.0% | +2.5% | +0.8% | -2.7% | +1.4% | -2.3% | +8.0% | -3.1% | +0.5% | -0.1% | +7.2% | +1.6% | +6.6% | -2.5% | +2.9% | -1.3% |
| YoY Change | — | — | — | — | +3.7% | +3.5% | +4.6% | +1.9% | -2.9% | +4.1% | +3.6% | +2.7% | +5.0% | +4.1% | +9.2% | +15.9% | +13.2% | +8.7% | +5.7% |
Business Segments
| Segment | FY'23 |
|---|---|
| Primary Segment | $28.74B |
| Total | $28.74B |
All segment values are derived from annual filings.
Primary Segment was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
Total Operating Expenses at Other Companies
Frequently Asked Questions
- What is Home Depot's total operating expenses?
- Home Depot (HD) reported total operating expenses of $8.46B in Q3 2025.
- How has Home Depot's total operating expenses changed year-over-year?
- Home Depot's total operating expenses increased by 5.7% year-over-year, from $8.01B to $8.46B.
- What is the long-term trend for Home Depot's total operating expenses?
- Over 3 years (2022 to 2025), Home Depot's total operating expenses has grown at a 4.6% compound annual growth rate (CAGR), from $27.79B to $31.78B.
- What does total operating expenses mean?
- The total cost of running the day-to-day business, excluding the direct cost of making products.