← Dohome overview

Dohome vs The Home Depot: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Dohome Public Company Limited (DOHOME.BK)

Q3 2026
▲3▼1

Dohome's profit rebound and flood-repair demand lift outlook, but one broker stays bearish

  • Earnings recovery and margin expansion Dohome's Q2 profit jumped 94% from a year earlier, gross margin widened to 20.2%, and same-store sales turned positive at 4–6%, helped by contractor and government work. Q3 profit is seen up 35–45%.

    This is the core new fundamental improvement that drove positive sentiment in the quarter.

  • Broker upgrade and flood-repair demand CGSI upgraded Dohome from Sell to Buy and made it a top pick, while several brokers named it a post-flood home-repair winner, noting 22% of its branches are in flood-affected Bangkok.

    This captures the key analyst action and the new demand catalyst from flooding that lifted the stock.

  • Government stimulus and solar subsidies Government solar-rooftop subsidies and the extended Thai Help Thai stimulus program are expected to support Dohome's sales and profit in the coming quarters.

    These policy measures are new tailwinds that could boost demand for Dohome's products.

  • Bualuang Sell rating and weak outlook Bualuang kept a Sell rating and 3.20 baht target, forecasting 2027 core profit down 5% on postponed store openings, weak household and construction demand, and a shrinking government investment budget, calling post-flood gains a selling opportunity.

    This is the main counterweight, showing that not all analysts share the optimistic view.

August 2026
▲3▼1

DOHOME's profit recovery and flood-repair demand outweigh a bearish 2027 outlook

  • Q2 profit jumped 94%, beating expectations DOHOME's second-quarter 2026 profit rose 94% from a year earlier, with sales up 6.9% and gross margin widening to 20.2% from 18%. That is the clearest sign the company's earnings slump has ended, and it is the main reason brokers turned more positive on the stock.

    The earnings jump is the core fundamental event that reset expectations for DOHOME this period.

  • Same-store sales turned positive, led by contractor and government work Same-store sales grew 4-6% in the third quarter, with back-office sales to contractors and government projects up 6-9%. Brokers see this as a genuine recovery, not just a low-base fluke, and several recommend accumulating the shares on that basis.

    The return to positive same-store sales is the key operating trend driving broker upgrades and price support.

  • Post-flood home-repair demand expected to lift fourth-quarter sales Flooding in Bangkok and central Thailand is expected to be followed by a wave of home repair and renovation spending. DOHOME has 22% of its branches in Bangkok and its vicinity, so brokers name it among the retailers most likely to benefit once the water recedes.

    Flood-driven repair demand is the main near-term catalyst brokers cite for DOHOME's fourth-quarter sales.

  • One broker keeps Sell, warning 2027 profit will fall Bualuang Securities kept a Sell rating and 3.20 baht target, forecasting 2027 core profit down 5% as new large-store openings are postponed, household and construction demand stays weak, and the government investment budget shrinks. It calls post-flood share gains a chance to sell.

    This is the main counterweight: a broker arguing the recovery is temporary and 2027 earnings will decline.

Latest
▲3▼1

DOHOME's profit recovery and flood-repair demand outweigh a bearish 2027 outlook

  • Q2 profit jumped 94%, beating expectations DOHOME's second-quarter 2026 profit rose 94% from a year earlier, with sales up 6.9% and gross margin widening to 20.2% from 18%. That is the clearest sign the company's earnings slump has ended, and it is the main reason brokers turned more positive on the stock.

    The earnings jump is the core fundamental event that reset expectations for DOHOME this period.

  • Same-store sales turned positive, led by contractor and government work Same-store sales grew 4-6% in the third quarter, with back-office sales to contractors and government projects up 6-9%. Brokers see this as a genuine recovery, not just a low-base fluke, and several recommend accumulating the shares on that basis.

    The return to positive same-store sales is the key operating trend driving broker upgrades and price support.

  • Post-flood home-repair demand expected to lift fourth-quarter sales Flooding in Bangkok and central Thailand is expected to be followed by a wave of home repair and renovation spending. DOHOME has 22% of its branches in Bangkok and its vicinity, so brokers name it among the retailers most likely to benefit once the water recedes.

    Flood-driven repair demand is the main near-term catalyst brokers cite for DOHOME's fourth-quarter sales.

  • One broker keeps Sell, warning 2027 profit will fall Bualuang Securities kept a Sell rating and 3.20 baht target, forecasting 2027 core profit down 5% as new large-store openings are postponed, household and construction demand stays weak, and the government investment budget shrinks. It calls post-flood share gains a chance to sell.

    This is the main counterweight: a broker arguing the recovery is temporary and 2027 earnings will decline.

September 2026
▲4

DOHOME upgraded on retail recovery and post-flood repair demand

  • CGSI flips DOHOME from Sell to Buy as top pick CGSI upgraded the Thai retail sector to Overweight and DOHOME from Sell to Buy, its top pick, citing the clearest demand recovery in three years. Building permits rose in early 2026 after long declines, so construction-material sales should recover from late 2026 into 2027.

    This is the strongest new, company-specific reason for the stock's move and directly answers what is driving it.

  • Brokers name DOHOME a post-flood home-repair winner Kasikorn, Globlex, DBS Vickers and BLS all flagged DOHOME as a beneficiary once floodwaters recede, expecting repair and home-restoration demand to lift sales in the fourth quarter of 2026. BLS upgraded it to speculative buy. Near-term flooding still hurts store traffic.

    This is the main new demand catalyst behind the period's price move, with a clear timing and a real near-term counterweight.

  • Government solar rooftop subsidy adds a new sales channel A 50-billion-baht household solar rooftop subsidy, opening for registration in mid-October 2026, was cited by Asia Plus as positive for DOHOME because it sells solar installation-related products. It could lift household demand and support revenue, though it is an extra opportunity rather than a core profit driver.

    It is a new government demand programme that could add to DOHOME's sales, so it helps explain the positive backdrop.

  • Stimulus extension supports third-quarter profit growth The Finance Ministry extended the Thai Help Thai Plus Phase 2 co-payment scheme by two months, injecting up to 7.1 billion baht. Finansia Syrus expects DOHOME's third-quarter 2026 profit to grow around 35-45% year on year, helped by recovering same-store sales.

    It is a new government cash injection that directly supports DOHOME's earnings and consumer spending.

▲4

DOHOME upgraded on retail recovery and post-flood repair demand

  • CGSI flips DOHOME from Sell to Buy as top pick CGSI upgraded the Thai retail sector to Overweight and DOHOME from Sell to Buy, its top pick, citing the clearest demand recovery in three years. Building permits rose in early 2026 after long declines, so construction-material sales should recover from late 2026 into 2027.

    This is the strongest new, company-specific reason for the stock's move and directly answers what is driving it.

  • Brokers name DOHOME a post-flood home-repair winner Kasikorn, Globlex, DBS Vickers and BLS all flagged DOHOME as a beneficiary once floodwaters recede, expecting repair and home-restoration demand to lift sales in the fourth quarter of 2026. BLS upgraded it to speculative buy. Near-term flooding still hurts store traffic.

    This is the main new demand catalyst behind the period's price move, with a clear timing and a real near-term counterweight.

  • Government solar rooftop subsidy adds a new sales channel A 50-billion-baht household solar rooftop subsidy, opening for registration in mid-October 2026, was cited by Asia Plus as positive for DOHOME because it sells solar installation-related products. It could lift household demand and support revenue, though it is an extra opportunity rather than a core profit driver.

    It is a new government demand programme that could add to DOHOME's sales, so it helps explain the positive backdrop.

  • Stimulus extension supports third-quarter profit growth The Finance Ministry extended the Thai Help Thai Plus Phase 2 co-payment scheme by two months, injecting up to 7.1 billion baht. Finansia Syrus expects DOHOME's third-quarter 2026 profit to grow around 35-45% year on year, helped by recovering same-store sales.

    It is a new government cash injection that directly supports DOHOME's earnings and consumer spending.

The Home Depot Inc (HD)

Q3 2026
▼2▲1

Home Depot Q3: Housing Slump and Tariffs Offset Earnings Beat

  • Q2 Earnings Beat and Dividend Increase Home Depot's second-quarter results beat expectations, with revenue up 5.7% and comparable sales up 1.7%. The company also raised its dividend for the 156th straight time and reaffirmed guidance, signaling steady financial health.

    This positive earnings surprise and dividend raise supported investor confidence during the quarter.

  • Housing Market Weakness Pressures Sales Mortgage rates near 7.5% and 30-year low home turnover kept consumers from big remodels, hurting profitable categories. This dragged shares down about 11% as housing remains the key drag on results.

    Housing weakness was the primary negative force driving HD's stock lower during the period.

  • Tariffs and Downgrade Add Margin and Rate Risks Tariffs threaten profit margins, and Wolfe Research downgraded HD on lock-in and rate risks. These factors added uncertainty and weighed on the stock, compounding housing-related pressures.

    Tariff and analyst downgrade introduced new headwinds that contributed to the stock's decline.

  • Growth Initiatives and Cost Cuts Offset by One-Time Items New three-hour delivery, Pro rewards, and AI tools aim to support future growth, while cost cuts and resumed buybacks help earnings. However, a one-time $730 million tariff refund inflated profit and isn't repeatable.

    These strategic moves and financial actions provide a mixed but important counterbalance to the negative drivers.

August 2026
▲2▼1

Home Depot beats Q2 but housing slump drags shares down 11%

  • Q2 beat and dividend streak Home Depot beat Q2 expectations with revenue up 5.7% to $47.9 billion, comparable sales up 1.7%, and its 156th straight dividend raise. The company also reaffirmed guidance, showing the core business is still solid.

    This is the main new positive event that drove sentiment during the period.

  • New services and AI tools Home Depot launched nationwide three-hour delivery, expanded Pro contractor rewards, and rolled out its Magic Apron AI assistant. These moves aim to win more professional business and make shopping easier, supporting future sales.

    These are new strategic initiatives that could drive growth and were highlighted this period.

  • Housing weakness and high rates Mortgage rates hit 7.5%, home turnover sits at 30-year lows, and consumers are doing small repairs instead of profitable big remodels. This housing drag is the main reason shares fell about 11% in September.

    This is the key new negative force that pressured the stock during the period.

  • CEO medical leave adds uncertainty CEO Ted Decker's medical leave creates leadership uncertainty, but interim management delivered strong results and reaffirmed guidance. The market weighed this against the solid operational performance.

    This is a new event that introduced uncertainty but was partly offset by strong interim results.

Latest
▲3▼1

Home Depot's sales hold up on Pros and AI, but housing freeze caps the stock

  • Pro contractor push deepens Home Depot expanded Pro Xtra Rewards with new perks, realigned leadership into an Office of Pro Acceleration, and reported Pro sales again outpacing DIY. Pros spend more per job, so this steady share gain is the main thing offsetting weak consumer demand and supports the stock.

    Shows the company's biggest growth engine and why it partly offsets the housing drag.

  • Q2 sales beat and guidance reaffirmed Second-quarter sales rose 5.7% to $47.9 billion, comparable sales up 1.7%, with 13 of 16 departments positive, big-ticket transactions up 2.4% and online sales up 11%. Management reaffirmed flat-to-2% comparable sales guidance, reassuring investors that results are holding up.

    The quarter's headline result and guidance are the core new evidence on HD's health.

  • Tariff refunds and AI tools lift margins and service Home Depot got $730 million in tariff refunds, using $685 million to cut product costs and lift gross margin by 0.3 points. It also rolled out its Magic Apron AI assistant to all U.S. stores, which UBS says helps defend its service edge as AI shopping spreads.

    New one-off margin help plus a technology rollout that protects HD's competitive position.

  • Housing freeze and 7.5% mortgage rates bite Mortgage rates climbed back to 7.5%, the highest since 2024, and Home Depot shares fell about 11% in September. Housing turnover has been stuck at roughly 30-year lows for four years, so customers keep doing small repairs instead of profitable big remodels, and management sees no turnaround yet.

    The dominant force holding HD's sales and stock back, and the main counterweight to the positives.

September 2026
▲2▼2

Home Depot's core demand stays frozen as mortgage rates hit a three-year high

  • Frozen housing market keeps big-ticket renovation demand weak Home Depot's CFO said housing turnover is stuck at historic lows for a fourth year, so customers are sticking to small repairs instead of big remodels. That directly limits sales growth in the company's most profitable categories and keeps a lid on the stock.

    This is the central demand problem weighing on HD and explains why sales remain under pressure.

  • Mortgage rates at 7.45% squeeze renovation budgets The average 30-year mortgage rate hit 7.45%, the highest in three years, adding thousands in yearly interest costs for buyers. With more income going to housing, there is less left for kitchen remodels and other big projects that drive Home Depot's sales.

    Rising rates are a fresh, concrete headwind that makes the frozen-housing problem worse for HD.

  • Professional contractor business keeps growing and gaining share Home Depot's sales to professional contractors grew again and beat do-it-yourself sales, helped by delivery improvements and its SRS acquisition reaching 90% of stores. Pros spend more per job, so this steady growth partly offsets the weak consumer side.

    This is the main positive force supporting HD's sales while the housing market is frozen.

  • Broad category strength and cost cuts support profit and buybacks Home Depot beat its own forecast with 13 of 16 product categories growing, and management plans billions in cost savings, a return to about 2x debt-to-EBITDA by mid-2027, and resumed share repurchases. That supports earnings per share even with soft sales.

    It shows the company's financial health and capital returns can lift the stock despite weak housing.

▲2▼2

Home Depot's core demand stays frozen as mortgage rates hit a three-year high

  • Frozen housing market keeps big-ticket renovation demand weak Home Depot's CFO said housing turnover is stuck at historic lows for a fourth year, so customers are sticking to small repairs instead of big remodels. That directly limits sales growth in the company's most profitable categories and keeps a lid on the stock.

    This is the central demand problem weighing on HD and explains why sales remain under pressure.

  • Mortgage rates at 7.45% squeeze renovation budgets The average 30-year mortgage rate hit 7.45%, the highest in three years, adding thousands in yearly interest costs for buyers. With more income going to housing, there is less left for kitchen remodels and other big projects that drive Home Depot's sales.

    Rising rates are a fresh, concrete headwind that makes the frozen-housing problem worse for HD.

  • Professional contractor business keeps growing and gaining share Home Depot's sales to professional contractors grew again and beat do-it-yourself sales, helped by delivery improvements and its SRS acquisition reaching 90% of stores. Pros spend more per job, so this steady growth partly offsets the weak consumer side.

    This is the main positive force supporting HD's sales while the housing market is frozen.

  • Broad category strength and cost cuts support profit and buybacks Home Depot beat its own forecast with 13 of 16 product categories growing, and management plans billions in cost savings, a return to about 2x debt-to-EBITDA by mid-2027, and resumed share repurchases. That supports earnings per share even with soft sales.

    It shows the company's financial health and capital returns can lift the stock despite weak housing.

July 2026
▲2▼2

Home Depot's profit gets a one-time tariff-refund boost as housing stays weak

  • One-time tariff refunds inflate profit Home Depot got $730 million back after the Supreme Court struck down old tariffs, using $685 million to lower costs. That lifted reported profit, but it is a one-time boost, not stronger customer demand, so investors should not expect it to repeat.

    This is the biggest new force behind HD's recent profit beat and explains why reported earnings look better than the underlying business.

  • Analyst downgrade on housing lock-in and rate risk Wolfe Research downgraded Home Depot to Peer Perform, citing the lock-in effect that keeps homeowners from moving, weaker returns from big Pro acquisitions, and rising rate risks. It prefers Lowe's, which can pressure HD shares as some investors rotate away.

    A fresh analyst downgrade directly changes how some investors value HD and highlights specific worries beyond daily price moves.

  • Improving housing affordability could revive renovation demand Lennar cut home prices to a nine-year low and mortgage rates dipped to 6.47%, making homes more affordable. Cheaper housing usually leads to more home sales and then bigger renovation projects, which would help Home Depot's sales over time.

    This points to a potential turn in the housing cycle, the main long-term driver of Home Depot's demand.

  • Tariff deadline pushed up import costs Retailers rushed Chinese imports before a July 24 tariff deadline, expecting costs to rise on furniture and appliances. Higher tariffs would squeeze Home Depot's margins unless it raises prices, which could hurt sales to budget-conscious customers.

    This is a new cost pressure that could offset the benefit of the tariff refunds and weigh on future profits.

▲2▼2

Home Depot's profit gets a one-time tariff-refund boost as housing stays weak

  • One-time tariff refunds inflate profit Home Depot got $730 million back after the Supreme Court struck down old tariffs, using $685 million to lower costs. That lifted reported profit, but it is a one-time boost, not stronger customer demand, so investors should not expect it to repeat.

    This is the biggest new force behind HD's recent profit beat and explains why reported earnings look better than the underlying business.

  • Analyst downgrade on housing lock-in and rate risk Wolfe Research downgraded Home Depot to Peer Perform, citing the lock-in effect that keeps homeowners from moving, weaker returns from big Pro acquisitions, and rising rate risks. It prefers Lowe's, which can pressure HD shares as some investors rotate away.

    A fresh analyst downgrade directly changes how some investors value HD and highlights specific worries beyond daily price moves.

  • Improving housing affordability could revive renovation demand Lennar cut home prices to a nine-year low and mortgage rates dipped to 6.47%, making homes more affordable. Cheaper housing usually leads to more home sales and then bigger renovation projects, which would help Home Depot's sales over time.

    This points to a potential turn in the housing cycle, the main long-term driver of Home Depot's demand.

  • Tariff deadline pushed up import costs Retailers rushed Chinese imports before a July 24 tariff deadline, expecting costs to rise on furniture and appliances. Higher tariffs would squeeze Home Depot's margins unless it raises prices, which could hurt sales to budget-conscious customers.

    This is a new cost pressure that could offset the benefit of the tariff refunds and weigh on future profits.

▲2▼1

Home Depot beats Q2, dividend up, delivery push; housing still drags

  • Q2 beat and dividend raise Home Depot beat second-quarter expectations with revenue up 5.7% to $47.9 billion and earnings of $4.92 a share. Comparable sales rose 1.7%, the best since late 2022, and the company raised its dividend for the 156th straight time. Beating expectations and returning cash supports the stock.

    The earnings beat and dividend increase are the core new positive events driving HD this period.

  • Nationwide express delivery rollout Home Depot launched three-hour-or-less delivery from its 2,300-plus stores nationwide, with no membership required. This uses stores as local warehouses to serve contractors and do-it-yourself customers faster, which can lift sales and compete better with rivals, a new growth driver.

    This is a new operational initiative that could support future sales and competitive position.

  • Housing and consumer headwinds persist High mortgage rates and weak housing turnover kept big renovation projects depressed, and July housing starts fell below expectations. Goldman Sachs also warned consumer spending growth will slow sharply as tax refund boosts fade. These forces cap how much Home Depot's sales can grow.

    These are the main counterweights explaining why HD's outlook remains muted despite the beat.

  • CEO medical leave adds uncertainty CEO Ted Decker took a temporary medical leave six days before earnings, with no return date. The board named interim leaders, and the stock fell 1.9% on the news. Leadership uncertainty can weigh on shares, though the company still delivered strong results under interim management.

    This is a new event that created short-term uncertainty but did not derail quarterly results.