Home Depot Holds Third Place as TJX Companies Ranks Seventh Globally

The Home Depot held its position as the third-largest brick-and-mortar retailer in the United States by market capitalization, sitting at $405.1 billion behind only Walmart ($808.3 billion) and Costco ($435.0 billion), according to global retail rankings data. TJX Companies, the Framingham-based parent of TJ Maxx, ranked fourth among US physical retailers at $150.2 billion, with Atlanta-headquartered Home Depot holding a nearly $255 billion market cap advantage over it.

Globally, the picture places Home Depot at fourth overall when Amazon's $2.431 trillion market cap is included. Amazon, however, is classified as a non-store e-commerce operation rather than a brick-and-mortar retailer, which reshuffles the physical retail hierarchy and keeps Home Depot firmly in the top three among companies that actually operate stores.

TJX Companies ranked seventh globally at $150.2 billion, just $6.5 billion ahead of Lowe's, which sat at $143.7 billion. That gap matters for anyone working at Home Depot's stores: the company's closest direct competitor in home improvement trails not only Home Depot by more than $261 billion in market cap but also falls behind a discount apparel chain in investor valuation.

On revenue, the rankings look different. Home Depot generated $152.7 billion in retail revenue and posted a 9.9% net profit margin, the strongest margin among the major US brick-and-mortar players in the data. Walmart led on raw revenue at $648.1 billion but converted just 2.5% of that to profit. Costco's $242.3 billion in revenue came with a 2.6% margin. TJX Companies reported $54.2 billion in retail revenue at an 8.3% margin, solidly profitable but operating at roughly one-third of Home Depot's revenue scale.

The margin comparison is notable context for Home Depot associates who field questions from pro customers about project costs: the Atlanta company's nearly 10-cent profit on every dollar of revenue reflects the higher-ticket, higher-margin nature of home improvement versus the thin-margin volume game that defines Walmart and Costco's business models. Home Depot's revenue ranking of fifth globally by retail sales, behind Walmart, Amazon, Costco, and Germany's Schwarz Gruppe, underscores that the company competes at a scale few pure-play home improvement or specialty retailers can match.