Inventory Turnover › Home Improvement
Home Improvement Inventory Turnover Benchmarks 2026
Big-box home improvement runs 4x to 5x annual turnover. Home Depot beats Lowes by roughly 1 turn, driven by Pro-customer mix. Specialty single-category operators (Floor & Decor) sit below 2x due to depth-of-SKU and long project decision cycles.
Named retailer 10-K data
| Retailer | Fiscal Year | Turnover | COGS | Avg Inventory |
|---|---|---|---|---|
| Home Depot(HD) | FY24 (ended Feb 2025) | 4.8x | $103.0B | $21.4B |
| Lowes(LOW) | FY24 (ended Jan 2025) | 3.9x | $55.6B | $14.18B |
| Floor & Decor(FND) | FY24 (ended Dec 2024) | 1.9x | $2.84B | $1.49B |
| Tractor Supply(TSCO) | FY24 (ended Dec 2024) | 3.4x | $10.41B | $3.04B |
Per-retailer notes
Home Depot (HD)
4.8x turnoverLargest US home improvement retailer. Pro-customer mix drives faster turn than DIY-heavy peers (Pro purchases full pallets, less safety stock).
Source: Home Depot 10-K, fiscal 2024
Lowes (LOW)
3.9x turnoverDIY-leaning customer base. Smaller per-transaction size requires deeper SKU range on hand to capture casual project demand.
Source: Lowes 10-K, fiscal 2024
Floor & Decor (FND)
1.9x turnoverSpecialty hard surface flooring. Larger SKU library and longer-cycle decision items (multi-week project timelines) structurally lower turnover.
Source: Floor & Decor 10-K, fiscal 2024
Tractor Supply (TSCO)
3.4x turnoverRural lifestyle and farm supply. Animal feed (consumables) turn 8-12x; hardware and apparel turn 2-3x. Blended sits at 3.4x.
Source: Tractor Supply 10-K, fiscal 2024
Home Depot vs Lowes: the 0.9 turn gap
Home Depot disclosed in its FY24 10-K and supplemental presentations that Pro customers represent roughly half of revenue. Lowes runs closer to 25% Pro mix. The Pro effect on inventory is direct:
- Pros buy in case and pallet quantities, accelerating SKU exit velocity.
- Pros visit weekly; the assortment turns predictable demand rather than long-tail browse traffic.
- Pro purchase orders trigger upstream replenishment faster (account-attached buying behaviour).
The 0.9-turn gap implies Home Depot earns approximately $4.3B more revenue per dollar of inventory invested than Lowes at the same gross margin. That is the structural prize from the Pro strategy.