Pricing Log in Create free account
Sunday 1 November 2026 Export TGT’s income statement to Excel — free account

Target Corporation

TGT Consumer Defensive Discount Stores

Target Corporation’s revenue for fiscal 2026 (year ended January 2026) was $104.8 billion, down 1.68% from fiscal 2025.

Revenue
+5.27%
EPS
+100.5%
Free cash flow
+141.2%
Total debt
−6.68%

Quarter to July 2026, against a year earlier

154.38 2.56 +1.69%
Market cap
$69.0B
P/E
15.9×
Fwd P/E
14.8×
Dividend yield
3.73%
F-score
6/9
Altman Z
2.90
Beneish M
n/a
Dividend safety
73/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Revenue by segment Fiscal 2026

  • Reportable Segment

Every year since 2010 →

Insider Decisions last twelve months

Sold, $m 19.92
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — 2 1 — 3 — — —
Insider Ownership 0.26%

Capital & Financial Ratios $m

Size
Market Cap 68,970.00
Revenue ttm 107,705.00
Net income ttm 4,392.00
Free cash flow ttm 4,456.00
Net debt Q 9,946.00
Valuation
P/E 15.90
Forward P/E 14.80
Price / sales 0.65
Forward P/S Powerpack
Price / FCF 15.69
Price / book 3.92
Financial health
Current ratio Q 0.99 (below 1: weak)
Debt / equity Q 0.86
Interest coverage Q 26.12
Growth
Revenue growth Q +5.27% (above 0%: growing)
Operating income growth Q +94.38% (above 0%: growing)
EPS, this year +34.70% (at or above 15%: strong)
EPS, next year A −5.48% (below 0%: weak)
Revenue, next year A +5.17%
EPS, past 5 yrs −1.21% (below 0%: weak)
EPS, next 5 yrs A +11.52%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.7×, against a ten-year median of 0.7×; over the ten years it ranged from 0.5× in 2025 to 1.4× in 2021.
P/E against its own 10 years 54.44%
10-year low 10-year high
P/S against its own 10 years 59.90%
10-year low 10-year high
P/B against its own 10 years 41.54%
10-year low 10-year high
EV/Sales against its own 10 years 50.20%
10-year low 10-year high
EV/FCF against its own 10 years 57.52%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.73%
Annual rate
5.74
Payout ratio
59.6%
Growth, 2017–26
+7.30%/yr
  1. 2.44 ’17
  2. 2.52 ’18 +3%
  3. 2.60 ’19 +3%
  4. 2.68 ’20 +3%
  5. 3.16 ’21 +18%
  6. 3.96 ’22 +25%
  7. 4.36 ’23 +10%
  8. 4.44 ’24 +2%
  9. 4.52 ’25 +2%
  10. 4.60 ’26 +2%
paid Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 3,805 4,762 5,488 5,411
Receivables — — — —
Inventory 11,886 12,740 12,304 13,249
Other 1,807 1,952 2,213 2,268
17,498 19,454 20,005 20,928
2024 2025 2026 Q'26
Payables 12,098 13,053 12,622 13,306
ST’ Debt 1,116 1,636 2,130 1,136
Other — — — —
19,304 20,799 21,230 21,180

Compound Annual Growth %

10y 5y 3y
Sales 3.57% 2.29% (1.34%)
Cash Flow 0.97% (9.02%) 17.76%
Earnings 0.97% (3.24%) 10.05%
Book Value 2.24% 2.28% 12.90%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 2.30 Actual 2.46

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.76 1.78 Beat by 0.02
Q4 FY25 2.17 2.44 Beat by 0.27
Q1 FY26 1.41 1.71 Beat by 0.30
Q2 FY26 2.30 2.46 Beat by 0.16
Q3 FY26 2.08 — Reports 18 November 2026

EPS $

Apr Jul Oct Jan Year
’26 1.71 4.11 — — —
’26 2.27 2.05 1.51 2.30 8.13
’25 2.03 2.57 1.85 2.41 8.86
’24 2.05 1.80 2.10 2.98 8.94
’23 2.16 0.39 1.54 1.89 5.98
’22 4.17 3.65 3.04 3.21 14.10
’21 0.56 3.35 2.01 2.73 8.64
Fiscal quarters ending in the months shown.

Revenue $m

Apr Jul Oct Jan Year
’26 25,443 26,539 — — —
’26 23,846 25,211 25,270 30,453 104,780
’25 24,531 25,452 25,668 30,915 106,566
’24 25,322 24,773 25,398 31,919 107,412
’23 25,170 26,037 26,518 31,395 109,120
’22 24,197 25,160 25,652 30,996 106,005
’21 19,615 22,975 22,632 28,339 93,561
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 716 3,803 — — —
’26 275 2,083 1,127 3,077 6,562
’25 1,101 2,238 739 3,289 7,367
’24 1,265 2,133 1,934 3,289 8,621
’23 (1,394) 1,347 599 3,466 4,018
’22 1,139 2,283 2,175 3,028 8,625
’21 1,284 3,832 1,928 3,481 10,525
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 (319) 2,434 — — —
’26 (515) 1,009 149 2,192 2,835
’25 427 1,599 84 2,366 4,476
’24 (338) 917 825 2,411 3,815
’23 (2,344) (222) (1,201) 2,265 (1,502)
’22 611 1,488 1,038 1,971 5,108
’21 539 3,173 1,350 2,856 7,918
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jul ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 70,271 72,714 75,356 78,112 93,561 106,005 109,120 107,412 106,566 104,780 107,705 +4.5% 110,193 113,829 117,382 +3.9%
Gross margin, % 30.06 29.69 29.27 29.76 29.27 29.28 24.57 27.54 28.21 27.93 29.30 (2.1) pt
EBT 3,961 3,630 3,676 4,190 5,546 8,907 3,418 5,297 5,261 4,767 5,659 +2.1%
EBT margin, % 5.64 4.99 4.88 5.36 5.93 8.40 3.13 4.93 4.94 4.55 5.25 (1.1) pt
Net income 2,734 2,914 2,937 3,281 4,368 6,946 2,780 4,138 4,091 3,705 4,392 +3.4%
Per share, $
Per share, $ Revenue 121.66 132.98 142.56 152.89 186.90 217.18 236.14 232.75 231.46 230.74 237.03 +7.4%
Earnings 4.74 5.36 5.55 6.42 8.72 14.23 6.02 8.96 8.89 8.16 9.68 +6.2%
Cash flow 9.43 12.68 11.30 13.93 21.02 17.67 8.70 18.68 16.00 14.45 19.20 +4.9%
Capex (2.60) (4.58) (6.49) (5.80) (5.21) (7.21) (11.95) (10.41) (6.28) (8.21) (9.39) +13.6%
Free cash flow 6.83 8.11 4.81 8.13 15.82 10.47 (3.25) 8.27 9.72 6.24 9.81 (1.0%)
Book value 18.96 21.31 21.37 23.16 28.85 26.28 24.31 29.11 31.85 35.60 39.27 +7.2%
Shares, m 578 547 529 511 501 488 462 462 460 454 454 (2.6%)
Valuation, ×
Valuation, × P/E 13.55 14.03 13.13 17.28 21.03 15.53 28.59 15.52 15.50 13.41 15.90 16.8
P/S 0.53 0.57 0.51 0.72 0.98 1.02 0.73 0.60 0.60 0.47 0.65 0.7
P/B 3.40 3.53 3.42 4.78 6.36 8.39 7.08 4.78 4.33 3.08 3.92 4.9
EV/Sales 0.68 0.69 0.64 0.84 1.03 1.09 0.86 0.71 0.70 0.58 0.74 0.8
EV/FCF 12.04 11.25 19.00 15.77 12.13 22.59 (62.22) 20.03 16.68 21.41 17.93 8.9
Cash, $m
Cash, $m Operating cash flow 5,444 6,935 5,973 7,117 10,525 8,625 4,018 8,621 7,367 6,562 8,723 +2.1%
Capex (1,501) (2,502) (3,431) (2,964) (2,607) (3,517) (5,520) (4,806) (2,891) (3,727) (4,267) +10.6%
Free cash flow 3,943 4,433 2,542 4,153 7,918 5,108 (1,502) 3,815 4,476 2,835 4,456 (3.6%)
Balance, $m
Balance, $m Working capital (717) (512) (2,495) (1,585) 631 (174) (1,654) (1,806) (1,345) (1,225) (252) +6.1%
Net debt 10,237 8,755 9,719 8,922 4,169 7,809 13,910 12,233 11,178 10,968 9,946 +0.8%
Shareholders’ equity 10,953 11,651 11,297 11,833 14,440 12,827 11,232 13,432 14,666 16,165 17,843 +4.4%
Returns, %
Returns, % ROA 7.04 7.50 7.20 7.81 9.29 13.22 5.19 7.61 7.23 6.32 7.38 (0.7) pt
ROIC 14.35 12.94 12.22 14.03 21.96 27.09 9.57 13.90 13.46 11.79 13.55 (2.6) pt
ROE 22.87 25.78 25.60 28.37 33.25 50.95 23.11 33.55 29.12 24.03 26.41 +1.2 pt
People
People Employees 323,000 345,000 360,000 368,000 409,000 450,000 440,000 415,000 440,000 415,000 — +2.8%
Revenue/emp, $m 0.22 0.21 0.21 0.21 0.23 0.24 0.25 0.26 0.24 0.25 — +1.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Business profile

Updated

Target is a U.S. retailer that sells everyday essentials, groceries, apparel, home goods, beauty products, and other general merchandise to customers it calls guests. It aims to combine discounted prices with a curated, multi-category assortment centered on design, style, and value.

It operates as one reportable segment. Customers can buy in stores, through digital channels, and through the Target Plus marketplace, which includes merchandise sold by Target and third parties. Stores are both shopping locations and fulfillment hubs: they support in-store purchases, shipping to guests, Order Pickup, Drive Up, and Same-Day Delivery.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Reportable Segment 104,780 100.00%
Gross margin 27.93%
Operating margin 4.88%
Pre-tax margin 4.55%

Revenue by segment since 2010

Target Corporation vs peers in Discount Stores (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WMT Walmart Inc. $962.0B 44.6× 42.9× +5.94% (above 0%: growing) −9.09% (below 0%: shrinking) +15.75% (above 0%: growing) 26.14% 4.99% Compare
COST Costco Wholesale Corporation $441.4B 48.7× 44.4× +11.10% (above 0%: growing) +14.80% (above 0%: growing) +30.72% (above 0%: growing) 12.74% 3.97% Compare
TGT Target Corporation $69.0B 15.9× 14.8× +5.27% (above 0%: growing) +100.49% (above 0%: growing) +141.23% (above 0%: growing) 33.67% 9.65%
DG Dollar General Corporation $28.7B 17.0× 16.7× +5.24% (above 0%: growing) +33.16% (above 0%: growing) −33.98% (below 0%: shrinking) 32.60% 6.81% Compare
DLTR Dollar Tree, Inc. $24.8B 16.3× 16.8× +7.02% (above 0%: growing) +196.70% (above 0%: growing) +4,013.41% (above 0%: growing) 42.91% 14.11% Compare
BJ BJ's Wholesale Club Holdings, Inc. $13.3B 23.2× 22.8× +15.73% (above 0%: growing) +20.18% (above 0%: growing) +165.90% (above 0%: growing) 17.83% 4.05% Compare
TBBB BBB Foods Inc. $6.2B — (loss-making) — (loss-making) +55.49% (above 0%: growing) n/m +1,859.24% (above 0%: growing) 16.75% 1.35% Compare
OLLI Ollie's Bargain Outlet Holdings, Inc. $5.5B 20.0× 19.5× +9.09% (above 0%: growing) +42.00% (above 0%: growing) +19.36% (above 0%: growing) 43.46% 14.63% Compare
PSMT PriceSmart, Inc. $5.1B 31.7× 30.9× +12.49% (above 0%: growing) +12.28% (above 0%: growing) −76.43% (below 0%: shrinking) 17.70% 4.43% Compare
Median of peers $19.0B 23.2× 22.8× +10.10% +20.18% +25.04% 21.99% 4.71%

All 10 Discount Stores stocks →

From the latest earnings call

Updated

  • CEO Michael Fiddelke said Target had lowered prices on more than 10,000 items over the past year while changing assortments and store layouts.
  • CFO Jim Lee said tariff refunds contributed $1.65 to quarterly EPS, while earnings per share excluding the refunds rose approximately 20%.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Evercore ISI Oct 2, 2026 Target raised Hold 135.00 → 150.00
HSBC Sep 30, 2026 Target raised Buy 125.00 → 190.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 86.16%
Held by the ten largest 46.11%
Holder Shares Stake Change
Vanguard 56.60m 12.46% +536.05k
BlackRock 38.70m 8.52% +787.84k
State Street 36.05m 7.94% −1.44m
Fidelity (FMR) 24.63m 5.42% +4.73m
Charles Schwab 15.45m 3.40% +1.44m
Geode Capital Management 10.84m 2.39% +247.22k
UBS 7.69m 1.69% +435.42k
Morgan Stanley 6.86m 1.51% −183.17k
BNY 6.37m 1.40% +3.37m
Goldman Sachs 6.25m 1.38% +1.06m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 27 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 21.83m 7.81m 66.89
2025 20.41m 18.63m 139.81
2024 19.20m 10.76m 143.24
2023 17.66m (9.62m) 160.71
2022 19.76m 57.79m 203.29
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Target Corporation (TGT) Latest News

29 Oct

Impact 4 · · Trefis
Impact 3 · · Zacks
Impact 3 · · Business Wire

28 Oct

Impact 4 · · The Motley Fool
Impact 4 · · The Motley Fool
Impact 4 · · TheStreet
Impact 4 · · Barchart

27 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · TheStreet
Impact 4 · · grocerydive.com
Impact 4 · · PR Newswire
Impact 4 · · wwd.com
Impact 3 · · TheStreet
Impact 3 · · The Motley Fool
Impact 3 · · Simply Wall St.

26 Oct

Impact 4 · · TheStreet
Impact 4 · · retaildive.com
Impact 4 · · cfodive.com
Impact 4 · · Zacks
Impact 3 · · StockStory
Impact 3 · · entrepreneur.com

24 Oct

Impact 3 · · The Penny Hoarder

23 Oct

Impact 4 · · The Motley Fool
Impact 3 · · Business Wire
Impact 3 · · StockStory
Impact 3 · · Zacks

22 Oct

Impact 4 · · Trefis
Impact 3 · · Simply Wall St.
Impact 3 · · PR Newswire
Impact 3 · · TheStreet

TGT metrics, ten years each

stockrow.com/TGT · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com