# Home Depot's 45-year return

Business · Heat 1.0 / 10 · 2 shows · 5m airtime

The Acquired podcast's deep dive, released September 25, 2026, found Home Depot delivered the highest return of any S&P 500 stock over 45 years: $1,000 at its 1981 IPO would be worth about $16 million. The discussion covers the four-store Atlanta IPO, the equity given to tradespeople on the floor, and why stagnant housing turnover has left comparable sales up just 1.7%. The $16 million figure became the headline number, and on October 14 Morgan Stanley reiterated an overweight rating and $400 price target after touring an Atlanta store.

Page: https://boilpoints.com/point/home_depots_45_year_return_2198747526

## Segments

- [Morning Brew Daily](https://boilpoints.com/u/morningbrewdaily), 2026-09-25, 19:23 to 23:16: **Walks through the IPO and employee equity**. Walks through the Acquired deep dive: the 1981 IPO with four Atlanta stores, the equity that made 3,000 floor employees multi-millionaires, and the stagnant comparable sales now that housing turnover has stalled. New angle: A $1,000 investment in Home Depot's 1981 IPO would be worth about $16 million today.
- [Closing Bell](https://boilpoints.com/u/closingbell), 2026-10-14, 34:41 to 36:07: **Reports Morgan Stanley's reiterated overweight on Home Depot**. Morgan Stanley's Atlanta store tour and management meeting produce a reiterated overweight and $400 target on Home Depot, with the CFO calling housing frozen and analysts arguing share gains are showing up without a macro tailwind. New angle: Morgan Stanley reiterated an overweight rating and $400 price target on Home Depot after touring an Atlanta store.