HD vs M: Which Is the Better Dividend Stock?
As of Nov 5, 2026, HD and M are closely matched. M offers the higher yield at 2.98%, HD has the higher dividend-safety score, and M looks like the better value (its fair-value estimate is 0% below its share price).
Key facts: HD vs M
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Macy's, Inc. (M) has the higher forward dividend yield at 2.98%, versus 2.62% for The Home Depot, Inc. (HD).
- As of Nov 5, 2026, SmarterDividends grades HD's dividend safety A (85/100) and M's C (65/100).
- By SmarterDividends' count as of Nov 5, 2026, HD has raised its dividend for 16 consecutive years and M for 4.
- As of Nov 5, 2026, HD pays out 65% of its earnings as dividends and M pays out 27%.
- As of Nov 5, 2026, HD's fair-value estimate is 26% below its share price and M's fair-value estimate is 0% below its share price, so M looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "HD vs M: Dividend Yield, Safety & Value Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/hd-vs-m
| Metric | HD | M |
|---|---|---|
| Forward yield | 2.62% | 2.98% |
| Annual dividend | $9.32 | $0.77 |
| Payout ratio | 65% | 27% |
| Years of growth | 16 yr | 4 yr |
| 5-yr dividend growth | 8.9% | -13.6% |
| 5-yr total return | -18% | -15% |
| Dividend safety score | 85 (A) | 65 (C) |
| Fair value estimate | $262.27 | $24.84 |
| Upside to fair value | -26% | -0% |
| Frequency | quarterly | quarterly |
| Market cap | $351.4B | $6.5B |
| P/E ratio | 24.6 | 9.1 |
Higher yield
M
2.98%
Safer dividend
HD
Grade A
Faster growth
HD
8.9%
Better value
M
-0% upside
HD vs M — FAQ
Is HD or M a better dividend stock?
HD and M are closely matched. M has the higher yield; HD scores better on safety.
Which has a higher dividend yield, HD or M?
M has the higher forward dividend yield at 2.98%, versus 2.62% for HD.
Is HD or M safer?
HD has the higher dividend-safety score (85/100 vs 65/100), reflecting stronger payout coverage and dividend-growth history.
Is HD or M better value right now?
As of Nov 5, 2026, M looks like the better value: its fair-value estimate is 0% below its share price (fairly valued). For HD, its fair-value estimate is 26% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.