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Home Depot Financials Q1 2013

by May 21, 2013

Home Depot Financials Q1 2013
Earnings and financial results released today

So far everything up and bright.

Nice sales, higher margins, record profits and operating cash flow.
Sales guidance up a bit; elevated inventory level suggests Home Depot's management have some new business ideas.

Home Depot Financial statements analysis

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Home Depot financials for Q1 2013
Placeholder for chart showing: sales, cost of sales, gross margin.

Click for larger Home Depot Gross profit margin from sales , Q1 2013
Sales up QoQ and YoY, gross margin up as well.

Home Depot financials for Q1 2013
Placeholder for chart showing: sales, cost of sales, operating expenses, operating income.

Click for larger Home Depot Operating income from sales , Q1 2013
Operating expenses stable, higher operating income even as percentage of sales.

Home Depot financials for Q1 2013
Placeholder for chart showing: gross margin, operating expenses, non-operating expenses, income taxes, exceptional expenses, preferred distributions, net income.

Click for larger Home Depot Net income overview , Q1 2013
Net income significantly larger either YoY and QoQ

Home Depot financials for Q1 2013
Placeholder for chart showing: detailed revenues and costs.

Click for larger Home Depot Detailed revenues and costs , Q1 2013
707 million paid in income taxes.

Home Depot financials for Q1 2013
Placeholder for chart showing: balance sheet: current assets, long term assets, current liabilities, long-term liabilities, equity.

Click for larger Home Depot Balance sheet overview , Q1 2013
Current assets and liabilities significantly up. Equity down thanks to stock repurchase program. Balance sheet size increased at a maximum.

Home Depot financials for Q1 2013
Placeholder for chart showing: current assets details: cash, investments, accounts receivable, inventory, deferred tax, others.

Click for larger Home Depot Detailed current assets , Q1 2013
Cash is at a maximum, but also inventories. The record inventory levels appears to be the cost of increasing sales. HD also raised guidance, next quarter we may see even higher inventory as a consequence.

Home Depot financials for Q1 2013
Placeholder for chart showing: property plant and equipment, equity, goodwill, intangibles, others.

Click for larger Home Depot Detailed long term assets , Q1 2013
Property and equipment decreased with natural depreciation. No new acquisition or expansion.

Home Depot financials for Q1 2013
Placeholder for chart showing: current liabilities: payables, debt, taxes, others.

Click for larger Home Depot Detailed current liabilities , Q1 2013
Accounts payable are at a maximum, probably due to increased inventory.

Home Depot financials for Q1 2013
Placeholder for chart showing: long term liabilities: debt, taxes, others.

Click for larger Home Depot Detailed long term liabilities , Q1 2013
Long term debt increased, as Home Depot continues share buyback program and replacement of equity with debt. Home Depot leverage increased consequently.

Home Depot financials for Q1 2013
Placeholder for chart showing: equity components: stock, earnings, others.

Click for larger Home Depot Detailed equity components , Q1 2013
This chart is a little strange, we need to see the explanation in 10Q report for Q1 2013 when filled.

Home Depot financials for Q1 2013
Placeholder for chart showing: cash flows overview: net cash flow, operating, financing, investment cash flow.

Click for larger Home Depot Cash flows overview , Q1 2013
Cash flows overview: Strong net cash flow, due mainly to record operating cash flow.

Home Depot financials for Q1 2013
Placeholder for chart showing: operating cash flows details: net income, adjustments, accounts payable, accounts receivable, inventory.

Click for larger Home Depot Detailed operating cash flows , Q1 2013
High net income contributed to the record operating cash flow. Raised inventory level was more than matched by raised current liabilities.

Home Depot financials for Q1 2013
Placeholder for chart showing: non cash adjustements of operating cash flows.

Click for larger Home Depot Detailed non-cash adjustements , Q1 2013
Note stock – based compensation is also at a record level.

Home Depot financials for Q1 2013
Placeholder for chart showing: financing cash flows details: debt, stock, dividend.

Click for larger Home Depot Detailed financing cash flows , Q1 2013
Large stock repurchases and raised dividends were financed by long term borrowing.

Home Depot financials for Q1 2013
Placeholder for chart showing: investment cash flows details: property plant and equipment, investments, securities.

Click for larger Home Depot Detailed investment cash flows , Q1 2013
CAPEX is decreasing, nothing much in new investment.
These were the Home Depot financials for Q1 2013!
So far everything up and bright.
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Our an analysis is based on Home Depot quarterly and annual reports as filed to SEC EDGAR or reported by Home Depot. All data is thoroughly processed by our analysts to assure consistent and comparable figures across many quarters. In case you spot any error or inconsistency, please let us know.
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