During and following the global pandemic, home improvement retail stores experienced significant growth, sometimes resulting in a shortage of goods. Revenue in this sector reached $258 billion in 2023, and compound annual growth is expected to reach $258.6 billion by 2028. Home Depot is the market leader in the home improvement retail industry, with a revenue of $152.7 billion and a net income of $15.1 billion in 2023.

Though Home Depot is the industry leader, it faces competitive pressures from other public big-box retailers and specialized private competitors. To create a list of these competitors, 24/7 Wall St. reviewed business directories, focusing on big-box retailers and expanding to specialist tool and supply companies. We then ranked the companies by yearly revenue, choosing the top 18 competitors, ranked in reverse order below. (Click here to see Why Home Depot Dominates the Home Improvement Market).

18. Valu Home Centers (Do It Best)

Valu Home Centers is a regional home improvement store serving parts of New York and Pennsylvania. It is a full-service store offering hardware, tools, and building supplies for indoor and outdoor projects. In 2023, the company generated about $130 million in revenue. Valu Home Centers is a family-owned business and part of the Do It Best cooperative.

17. Rockler Woodworking and Hardware

Rockler Woodworking is a family-owned business that offers woodworkers materials, tools, supplies, and support. Founded in 1954 in Minneapolis, MN, the company has grown to 54 offices throughout the country and had revenue of $171.5 million in 2022.

16. Woodcraft

Founded in 1928 in Boston, MA, Woodcraft Supply provides woodworking tools and supplies to customers across the United States. With locations in over 70 metropolitan areas, Woodcraft generated over $240 million in revenue last year.

15. Home Hardware

Home Hardware is Canada’s largest chain of dealer-owned home improvement stores. Four brands (Home Hardware, Home Building Centre, Home Hardware Building Centre, and Home Furniture) operate under the Home Hardware Stores Limited banner. These stores provide hardware, lumber, building materials, and furniture to Canadian DIYers, workers, contractors, and handymen. The company’s revenues have been estimated to be between $211 million and $5 billion USD. Home Hardware stores vastly outnumber Home Depots in Canada.

14. LL Flooring

With over 400 locations throughout the U.S., LL Flooring (NYSE: LL) competes with Home Depot in the specialty flooring market. In 2022, LL Flooring had $1.1 billion in revenues and offers installation and some home decor elements.

13. Rural King

Rural King is a family-owned farm and supply store founded in 1960. It competes with Home Depot in the hand tool, garden, and fencing sectors and specializes in supplies for rural and agricultural life. Since its founding, it has added over 130 stores in the East, Southeast, and Midwest. In 2022, it posted revenues of over $1.5 billion.

12. McCoy’s Building Supply

McCoy’s is a building supply chain founded in 1927. This regional business has about 85 stores and full-service lumberyards in Texas, Oklahoma, and New Mexico, as well as two millworks in Texas. The McCoy family still oversees the company’s operations, and it posted $1.6 billion in revenue in 2023.

11. True Value

True Value is a cooperative of independently owned hardware retailers. The True Value trademark was established in 1932 and later acquired by Cotter & Company in 1963. The company serves over 4,500 stores in over 60 countries. In 2023, True Value’s revenue was estimated to be $1.85 billion.

10. Carter Lumber

Founded in 1932, Carter Lumber has over 170 locations serving the eastern U.S. The company has seven brands. The first four are Carter offshoots, including Carter Lumber, Carter Components, Carter Kitchen and Bath, and Carter Custom Millwork. The other three are Holmes Lumber, Kempsville Building Materials, and Kight Home Center. In 2022, Carter Lumber had $3.1 billion in sales.

9. Harbor Freight

Harbor Freight is a privately held tool and supply company with over 1,500 stores across the United States. Founded in 1977, it has grown steadily since then. In 2015, the company expanded one of its distribution centers and opened a large one in Joliet, IL, in 2022. In 2023, the company announced $7 billion in revenue.

8. 84 Lumber

84 Lumber was founded in 1956 in Eighty Four, PA, for which it is named. It is the largest privately held supplier of lumber and building materials in the U.S. The company has 310 facilities, including manufacturing plants, door shops, and stores. After a financial crunch during the 2009 housing crisis, the company has recovered and expanded to the point where it reported earnings of $8.78 billion in 2022.

7. Ace Hardware

Ace Hardware is a retail cooperative with 5,000 stores worldwide, the majority of which are locally owned. It was founded in 1924 when a group of Chicago hardware store owners worked together to buy in bulk, allowing small, local owners to compete with more extensive operations. Larger than True Value, another cooperative, Ace, generated $9.1 billion in revenue in 2023.

6. Menards

Menards is the third-largest retail home improvement store in the United States. While Lowe’s and Home Depot are public, Menards is family-owned and privately held. Founded in 1958 in Eau Claire, WI, Menards has over 300 stores throughout the Midwest, reaching the Great Plains and the eastern U.S. In 2023, Menards exceeded $13.4 billion in revenue.

5. Tractor Supply

The publicly held Tractor Supply (NASDAQ: TSCO) is the country’s largest “rural lifestyle retailer,” with over 2,200 stores located outside metropolitan areas throughout the U.S. Tractor Supply provides many of the necessities for agricultural and rural life, including supplies for livestock and farming. In 2023, Tractor Supply exceeded $14.6 billion in sales.

4. Builders First Source

Builders First Source (NYSE: BLDR) is the nation’s largest building materials and services supplier. Founded in 1998 with over 570 locations (manufacturing and distribution) across the U.S., Builders First Source caters to the professional market rather than serving as a retail store for the general public. However, they do have a family of brands, including a handful of retail stores in the western U.S., including Dixieline and San Lorenzo Lumber and Home Centers, and HomCo Lumber & Hardware. Builders First Source had $17 billion in revenue in 2023.

3. Lowes

Lowe’s (NYSE: LOW) is the second-largest home improvement retail store in the United States, after Home Depot, and its largest direct competitor. Beginning as a family business in 1921 in North Carolina, Lowe’s has expanded to employ about 300,000 associates while earning over $97 billion in 2022. The company has over 2,100 locations.

2. Costco

While not strictly a home improvement store, Costco (NASDAQ: COST) is a membership warehouse chain that provides a selection of tools, supplies, and household appliances, in addition to electronics, groceries, outdoor equipment, and household goods. Founded in 1976, Costco has over 800 locations worldwide, generating revenue of $248.8 billion in 2023.

1. Walmart

Though not a direct competitor, Walmart (NYSE: WMT) is Home Depot’s largest competitor. In addition to groceries, clothing, outdoor and sporting equipment, jewelry, and toys, Walmart sells tools, gardening supplies, paint, and other home maintenance and household supplies. Sam’s Club membership warehouses are also included under the umbrella of the Walmart Corporation. Founded in 1962, Walmart operates over 10,000 stores and clubs worldwide and employs 2.1 million associates globally. It also has over 200 distribution centers utilizing a fleet of over 9,000 vehicles and 11,000 drivers. This vast supply and distribution network helped Walmart generate over $648 billion in revenue in 2023.

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