Overview Key strengths Key risks Multi-year business strategy called One Home Depot should lead to continued solid operating momentum. Supply chain, freight, and labor costs inflation are headwinds. Strong operating cash flows support business investments and shareholder returns. Execution risks associated with operational strategies. Good customer, product, and geographic diversity. Cyclicality in housing turnover remains a risk. Real estate ownership provides operating and financial flexibility. Online competition remains a viable threat. Largest home-improvement retailer globally based on revenues. We believe Home Depot will maintain much of the market share it gained during the pandemic as the company benefits from its One Home Depot strategy and good industry tailwinds including low mortgage rates and high turnover of pre-existing homes. Store refresh,
