TGTNYSERetail-Variety StoresFiscal year ends February 1
TARGET CORP
Financials through Q2 FY2026, quarter ended Aug 1, 2026Last filing: 10-Q on Aug 28, 2026
$153.29−0.97 (-0.63%)
Close on Oct 19, 2026
- Market cap
- $69.99B
- P/E (TTM)
- 15.9
- Dividend yield
- 2.96%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
27.9%−1.3 pts over 5 years
Operating margin
4.9%−2.1 pts over 5 years
Net margin
3.5%−1.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.7% | -1.3% | +2.3% | +3.6% | |
| Gross profit | -2.6% | +3.0% | +1.3% | +3.1% | |
| Operating income | -8.1% | +10.0% | -4.8% | – | |
| Net income | -9.4% | +10.0% | -3.2% | – | |
| EPS, diluted | -8.2% | +10.8% | -1.2% | +4.4% | |
| Free cash flow | -36.7% | – | -18.5% | -4.6% | |
| Dividend per share | +1.8% | +3.1% | +11.0% | +7.5% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 33.3% | 24.0% | |
| Return on assets | – | 9.3% | 6.3% | |
| Current ratio | 0.94 | 1.03 | 0.94 | |
| Debt to equity | 1.17 | 0.88 | 1.02 | |
| Net debt to EBITDA | 1.43× | 0.46× | 1.33× | |
| Interest coverage | 4.9× | 6.7× | 11.5× | |
| Inventory turnover | 5.9× | 6.7× | 6.0× | |
| Capex to revenue | 2.2% | 2.8% | 3.6% | |
| Diluted shares | 583M | 505M | 456M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Target generated $35.19B from operations and spent $41.24B on capital expenditure, dividends and share buybacks. 50% of that went back into the business.
Generated
$35.19B
Used
$41.24B
Capital expenditure$20.50B50%Dividends$9.49B23%Share buybacks$11.25B27%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin3.5%
×Asset turnover1.79×
×Equity multiplier3.80×
=Return on equity, FY202524.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 3.5% | 1.79× | 3.80× | 24.0% |
| FY2024 | 3.8% | 1.88× | 4.03× | 29.1% |
| FY2023 | 3.9% | 1.98× | 4.41× | 33.6% |
| FY2022 | 2.5% | 2.04× | 4.45× | 23.1% |
| FY2021 | 6.6% | 2.02× | 3.85× | 50.9% |
| FY2020 | 4.7% | 1.99× | 3.58× | 33.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$3.71B
- Cash generatingOperating cash flow above zero$6.56B
- Return on assets improvedROA up on the prior year7.4% → 6.4%
- Earnings backed by cashOperating cash flow above net income$6.56B vs $3.71B
- Less leverageLong-term debt to assets fell24.8% → 24.1%
- Better liquidityCurrent ratio rose0.94 → 0.94
- No dilutionShare count did not rise462M → 456M
- Gross margin improvedGross margin up on the prior year28.21% → 27.93%
- More efficientAsset turnover rose1.93 → 1.81