Home Depot Stock Today (HD): Earnings Miss, Housing ‘Funk’ and Governance Shake-Up

Home Depot stock is back in the spotlight this weekend as investors digest a messy mix of solid sales, weaker profits, softer housing activity, fresh governance changes and a new AI push aimed at professional contractors.

As of the last close on Friday, November 28, 2025, Home Depot (NYSE: HD) finished around $356.92 per share, leaving the stock well below last year’s peak even after a modest rebound from its post‑earnings sell‑off. ^[1]

Below is a full rundown of what’s moving Home Depot stock as of November 29, 2025, and the key themes investors are watching into 2026.

Quick snapshot: Home Depot stock in late November 2025

Last close: about $356.92
52‑week range: roughly $326–$436 – shares sit about 18% below the 52‑week high and ~9% above the low. ^[2]
Market cap: roughly $354 billion. ^[3]
YTD and 1‑year performance: HD is down about 6–7% year‑to‑date and roughly mid‑teens over the past 12 months, versus the S&P 500 up around 16% YTD and 14% over one year. ^[4]
Risk‑adjusted returns have been negative over the last year (1‑year Sharpe ratio around ‑0.65), but 10‑year annualized returns near 13% still edge out the S&P 500. ^[5]

In short: Home Depot is still a giant, but right now it’s a laggard rather than a market leader.

Home Depot stock performance: from earnings shock to partial rebound

Home Depot entered November trading near the upper half of its 52‑week range, but Q3 results on November 18 triggered a sharp reset.

On November 18, the company reported Q3 earnings that missed Wall Street expectations and cut its full‑year profit outlook, sending HD shares down roughly 6% in a single session and dragging the Dow lower. ^[6]

Since then:

The stock bounced strongly on November 25, gaining about 4% as dip‑buyers stepped in. ^[7]
By November 28, shares had climbed back into the mid‑$350s, but they still trade well below the ~$436 high reached late last year. ^[8]

Compared with major indices, Home Depot has underperformed both the Nasdaq and S&P 500 over the last year. One analysis pegs the stock at roughly 18% lower over 52 weeks, while the Nasdaq is up more than 20% over the same period. ^[9]

Q3 2025: sales growth, but profit and comps disappoint

The story behind that price action starts with the numbers.

Top line: revenue looks fine

For the third quarter of fiscal 2025, Home Depot reported:

Sales: about $41.4 billion, up 2.8% year‑on‑year.
Roughly $900 million of that came from the newly acquired GMS Inc., representing about eight weeks of sales. ^[10]
Comparable sales: up 0.2% overall and 0.1% in the U.S. ^[11]

Revenue actually came in slightly ahead of consensus, with analysts looking for roughly $41.1 billion. ^[12]

Bottom line: the miss that stung

Earnings were a different story:

GAAP EPS: about $3.62, flat to slightly below last year’s $3.67. ^[13]
Adjusted EPS:$3.74, down around 1% year‑on‑year and short of the roughly $3.84 Wall Street had expected. ^[14]

It was the third straight quarter that Home Depot missed profit expectations, according to multiple analyses. ^[15]

The company and outside commentators pointed to a familiar trio of headwinds:

Fewer severe storms than usual, which reduced demand in categories like roofing and emergency repair. ^[16]
A “deep funk” in the U.S. housing market, with home sales stuck at historically low turnover. ^[17]
A more anxious, cost‑conscious consumer, particularly for big‑ticket renovation projects. ^[18]

AP reporting also highlighted that customer transactions fell about 1.4%, even as average spending per visit increased, suggesting shoppers are making fewer, more expensive trips rather than casually browsing for projects. ^[19]

Guidance cut: profit reset while sales outlook nudges higher

The earnings miss mattered, but the guidance cut is what really rewired market expectations.

According to Home Depot’s updated fiscal‑2025 outlook:

Total sales growth is now expected around 3.0%, slightly above the prior 2.8% outlook, largely because the GMS acquisition will add roughly $2 billion in extra revenue. ^[20]
Comparable sales are expected to be “slightly positive”, versus a prior forecast for about 1% growth. ^[21]
Adjusted EPS is now projected to fall about 5% year‑on‑year (roughly a 6% decline on a GAAP basis), deeper than the earlier plan for only a 2% drop. ^[22]

CEO Ted Decker has been blunt in recent commentary: easing mortgage rates have not produced the rebound in home‑improvement demand many were hoping for. Instead, a combination of weak housing turnover, tariff‑related uncertainty on certain home products, and a stretched consumer is hitting big projects hardest. ^[23]

Several outlets frame the latest forecast as a window into a troubled housing market overall, not just a company‑specific stumble. ^[24]

Consumer behavior: fewer big remodels, more cautious spending

The Home Depot story has become a proxy for the middle‑class consumer.

A recent analysis looking across major retailers notes:

Middle‑income shoppers are increasingly trading down, postponing higher‑priced purchases and prioritizing essentials.
Even customers who typically have some financial cushion are becoming more price‑sensitive as living costs remain elevated and white‑collar job cuts pick up. ^[25]

Home Depot’s results fit that picture:

U.S. comps barely positive (+0.1%), well below what analysts expected. ^[26]
Big‑ticket categories and large renovation jobs are under more pressure than smaller, “repair‑and‑maintain” projects. ^[27]

Coverage from TheStreet has emphasized that company executives are “sounding the alarm” about troubling in‑store customer trends, though detailed metrics remain limited in public filings. ^[28]

Black Friday weekend: promotions vs. margins

This backdrop makes the Black Friday and Cyber Monday stretch especially important:

Outlets tracking holiday traffic report that many shoppers are underwhelmed by deals this year and are using promotions primarily to stock up on essentials, not splurge on new projects. ^[29]
Home Depot is running aggressive weekend promotions on power tools, outdoor equipment and holiday decor, with local media highlighting multiple “doorbuster” deals in stores on Saturday, November 29. ^[30]

Discounting should help traffic and clear inventory, but it also pressures margins, particularly when layered on top of higher labor and logistics costs. Investors will get the verdict on whether the trade‑off was worth it when Home Depot reports its holiday‑quarter results in early 2026.

Strategy pivot: AI tools and a deeper push into Pro customers

While the near‑term macro picture looks cloudy, Home Depot is leaning hard into technology and Pro services as long‑term growth drivers.

AI‑powered “Blueprint Takeoffs”

On November 19, the company launched Blueprint Takeoffs, an AI‑powered tool that allows professional renovators, remodelers and builders to upload single‑family home blueprints and receive:

A complete materials list, and
A project quote in days instead of the weeks traditional estimating can take. ^[31]

The tool plugs directly into Home Depot’s broader Pro ecosystem – trade credit, account management, and coordinated delivery – with an eye toward making Home Depot a one‑stop procurement platform for contractors.

GMS and the “sell more to Pros” thesis

The earlier acquisition of GMS Inc. and the larger SRS Distribution deal are part of the same playbook: grow share in professional and building‑materials channels, which tend to be more resilient than pure DIY spending.

GMS contributed around $900 million of Q3 sales despite only being consolidated for roughly eight weeks. ^[32]
Home Depot expects about $2 billion in incremental full‑year revenue from GMS alone. ^[33]

Several commentators argue that while DIY demand is soft, trade‑oriented revenue and maintenance‑driven projects could give Home Depot a more stable base as housing churn remains low. ^[34]

Governance changes and legal overhang

The stock narrative this month isn’t just about sales and margins – governance and legal news has hit the tape as well.

Bylaw overhaul: new rules for shareholder proposals

A detailed breakdown from CoinCentral highlights a board‑approved bylaw refresh adopted around November 20, including: ^[35]

A unified 120–90 day advance‑notice window for both shareholder proposals and director nominations.
A cap so that shareholders cannot nominate more directors than seats up for election, limiting “ballot stuffing.”
Removal of some disclosure requirements about people “acting in concert” with a nominating shareholder.
New language requiring anyone using written consent to say up front that they intend to solicit all shareholders, giving the board more visibility into campaigns.

The changes also tweak meeting procedures (for example, clarifying who can chair meetings if top officers are absent) and align the bylaws with recent Delaware corporate law updates. ^[36]

For investors, this package looks like a procedural tightening with modest nods to transparency. It may make activist campaigns more structured, but it also removes a few board‑friendly clauses that had drawn criticism.

Quarterly dividend: steady income amid volatility

On the capital‑returns side, Home Depot’s board declared a quarterly cash dividend of $2.30 per share, payable December 18, 2025 to shareholders of record on December 4, 2025. ^[37]

At the current share price near $357, that works out to an annualized yield of roughly 2.6% before taxes – not spectacular, but meaningful when paired with the company’s long history of buybacks. ^[38]

Pomerantz investigation: a new legal question mark

Adding a note of uncertainty, securities‑litigation specialist Pomerantz LLP announced it is investigating potential claims on behalf of Home Depot investors, focusing on whether the company or its executives misled shareholders or violated securities laws. ^[39]

No class action has been filed yet, and these investigations are common after sharp post‑earnings stock drops. Still, the headline is another factor institutional investors will watch as they weigh governance quality and disclosure risk.

Analyst sentiment and valuation: high‑quality, but how much to pay?

Despite the recent drawdown, Wall Street is not writing Home Depot off.

Ratings and price targets

Market data compiled by several platforms show:

A consensus “buy” rating with the vast majority of covering analysts in the bullish camp (dozens of buys versus only a handful of holds and sells). ^[40]
A wave of trimmed, but still positive, price targets after Q3:
- Truist: around $379
- RBC: roughly $376
- TD Cowen: about $410 ^[41]

Those numbers imply mid‑ to high‑single‑digit upside from current levels in a base case, with some firms essentially arguing that the worst of the reset is priced in if housing and consumer conditions don’t deteriorate further.

Is Home Depot stock cheap?

Valuation is where opinions start to diverge:

One detailed fundamental model from Simply Wall St estimates a “fair value” around $433 per share, suggesting HD could be roughly 15–20% undervalued against that framework. ^[42]
On a simpler price‑to‑earnings basis, Home Depot trades at about 24x earnings, above the specialty retail industry average near 18x and above the stock’s own “fair” multiple in that same analysis – though still below some large‑cap peers. ^[43]

In plain language: quant models often see value after the sell‑off, but traditional multiples say investors are still paying a premium for Home Depot’s scale, brand and long‑run track record – a premium that could compress if growth disappoints again.

How the long‑term picture looks from here

Pulling it all together, several themes will likely determine where Home Depot stock goes next:

Housing turnover and big‑ticket demand
The company’s own wording about a “deep funk” in the housing market is not subtle. If existing‑home sales and new construction remain weak, large remodels and discretionary projects are likely to stay under pressure. ^[44]
Middle‑class consumer health
Reports of middle‑income households cutting back, trading down, and delaying upgrades are showing up across the retail landscape, not just at Home Depot. HD’s Q3 numbers confirm that trend in home improvement specifically. ^[45]
Pro‑focused growth and AI execution
The GMS acquisition, SRS Distribution integration and AI‑driven Blueprint Takeoffs product all push toward a more Pro‑centric, data‑heavy business model. If those bets pay off, they could offset weaker DIY demand and justify a valuation premium. ^[46]
Margins vs. promotions in holiday 2025
The balance between driving traffic with holiday deals and protecting profitability will show up in Q4 gross‑margin trends. Persistent markdowns layered on elevated costs would be a red flag; modest promotions with stable margins would be a welcome surprise. ^[47]
Governance and litigation risk
The bylaw refresh and the Pomerantz investigation place more attention on governance. Nothing here is thesis‑breaking on its own, but it’s part of the wider risk picture institutional investors monitor. ^[48]

Bottom line

As of November 29, 2025, Home Depot stock sits in a kind of limbo:

Not a disaster – revenue is growing, the dividend is intact, and long‑term returns are still impressive. ^[49]
Not a clear bargain either – near‑term profit is under pressure, guidance has been cut, and the housing and consumer data don’t yet show a definitive turn. ^[50]

For investors following HD into 2026, the key question is whether this period marks a temporary reset in a still‑dominant home‑improvement franchise, or the early stages of a longer stretch of below‑trend growth as housing and consumer spending recalibrate.

Either way, Home Depot remains one of the most closely watched retail stocks in the market – and its next few quarters will say a lot about the state of the American homeowner.

HD Shaky Earnings Sets Unstable Floor for LOW Report

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References

Home Depot Stock Today (HD): Earnings Miss, Housing ‘Funk’ and Governance Shake-Up – Update for November 29, 2025