January 2, 2019

HD – Market expectations are for continued Uniform ROA expansion, and management is confident about inflation levels, new technology, and hiring


  • The Home Depot Inc. (HD:USA) trades below recent averages relative to UAFRS-based (Uniform) Earnings, with an 18.9x Uniform P/E. However, even at these levels, the market has bullish expectations for the firm, and management is confident about non-commodity inflation levels, their new delivery ETA technology, and hiring for the spring season
  • Specifically, management is confident about current non-commodity inflation levels, and about their new dynamic ETA technology for their online customers. Furthermore, they are confident in their ability to hire associates for the spring selling season
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