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Target Corp (TGT) operating KPIs

TGTNYSERetail-Variety StoresFiscal year ends February 1
Financials through Q2 FY2026, quarter ended Aug 1, 2026Last filing: 10-Q on Aug 28, 2026Score 21/3011% below fair value
$154.38+2.56 (+1.69%)

Close on Oct 30, 2026Market cap $70.13BP/E 16.0Yield 2.94%

KPIs

Operating metrics that drive Target's business · fiscal year ends Saturday nearest January 31 (52/53-week fiscal year; FY2025 ended January 31, 2026; Q2 FY2026 ended August 1, 2026)

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Target's fiscal year ends Saturday nearest January 31 (52/53-week fiscal year; FY2025 ended January 31, 2026; Q2 FY2026 ended August 1, 2026) — Q2 FY26 = May–Jul 2026.

Column labels
Add to chartMetric
Q2 FY26
2026-08-01
Q1 FY26
2026-05-02
Q4 FY25
2026-01-31
Q3 FY25
2025-11-01
Q2 FY25
2025-08-02
Q1 FY25
2025-05-03
Q4 FY24
2025-02-01
Q3 FY24
2024-11-02
Q2 FY24
2024-08-03
Q1 FY24
2024-05-04
Q4 FY23
2024-02-03
Q3 FY23
2023-10-28
Comparable Sales Growth (Total YoY %)(%)4
3.8%5.6%-2.5%-2.7%-1.9%-3.8%1.5%0.3%2.0%-3.7%-4.4%-4.9%
Comparable Traffic Growth — Number of Transactions (YoY %)(%)
3.6%4.4%-2.9%-2.2%-1.3%-2.4%2.1%2.4%3.0%-1.9%-1.7%-4.1%
Comparable Average Transaction Amount / Ticket Growth (YoY %)(%)
0.2%1.1%0.4%-0.5%-0.6%-1.4%-0.6%-2.0%-0.9%-1.9%-2.8%-0.8%
Comparable Store-Originated Sales Growth (YoY %)(%)
2.7%4.7%-3.9%-3.8%-3.2%-5.7%-0.5%-1.9%0.7%-4.8%-5.4%-4.6%
Digitally-Originated Comparable Sales Growth (YoY %)(%)
8.7%8.9%1.9%2.4%4.3%4.7%8.7%10.8%8.7%1.4%-0.7%-6.0%
Merchandise Sales YoY Growth (%)(%)1
5.0%6.4%-1.9%-1.9%-1.2%-3.1%-3.3%0.9%2.6%-3.2%1.6%-4.3%
Total Revenue / Net Sales YoY Growth (%)(%)
5.3%6.7%-1.5%-1.5%-0.9%-2.8%-3.1%1.1%2.7%-3.1%1.7%-4.2%
Merchandise Sales Mix — Store-Originated (%)(%)1
80.4%79.7%76.3%80.7%81.1%80.2%77.2%81.5%82.1%81.7%78.7%83.2%
Merchandise Sales Mix — Digitally-Originated (%)(%)
19.6%20.3%23.7%19.3%18.9%19.8%22.8%18.5%17.9%18.3%21.3%16.8%
Merchandise Sales Fulfilled by Stores — Stores-as-Hubs (%)(%)1
97.6%97.6%97.4%97.7%97.7%97.6%97.3%97.7%97.9%97.7%97.3%97.7%
Merchandise Sales Fulfilled by Distribution Centers & Other (%)(%)
2.4%2.4%2.6%2.3%2.3%2.4%2.7%2.3%2.1%2.3%2.7%2.3%
Roundel Digital Advertising Revenue ($M)($M)2
279246294241217163190167162130
Target Circle Card (RedCard) Credit Card Profit Sharing Revenue ($M)($M)
139130127119134141143148144142159165
Other Non-Merchandise Revenue — Target Plus, Target Circle 360 & Shipt ($M)($M)
174173191158141137154125125116-229229
Target Circle Card (formerly RedCard) Penetration (% of Total Sales)(%)
16.9%16.9%17.4%17.6%17.7%17.7%18.0%18.4%18.3%
Total Retail Stores at Period End (stores)3
2,0192,0021,9951,9951,9821,9811,9781,9781,9661,9631,9561,956
Large-Format Stores (170,000+ sq. ft.)
274274273273273273273273273273273273
Standard-Format Stores (50,000 to 169,999 sq. ft.)
1,5981,5811,5761,5761,5621,5621,5591,5591,5491,5471,5421,542
Small-Format Stores (49,999 sq. ft. or less)
147147146146147146146146144143141141
Total Retail Square Footage (thousand sq. ft.)(K sq ft)3
253,826.0251,483.0250,518.0250,518.0248,705.0248,664.0248,278.0248,278.0246,863.0246,654.0245,939.0245,908.0
Retail Square Footage — Large-Format Stores (170,000+ sq. ft., thousand sq. ft.)(K sq ft)
49,045.049,045.048,824.048,824.048,824.048,824.048,824.048,824.048,824.048,824.048,824.048,824.0
Retail Square Footage — Standard-Format Stores (50,000 to 169,999 sq. ft., thousand sq. ft.)(K sq ft)
200,321.0197,978.0197,274.0197,274.0195,436.0195,436.0195,050.0195,050.0193,705.0193,529.0192,908.0192,877.0
Retail Square Footage — Small-Format Stores (49,999 sq. ft. or less, thousand sq. ft.)(K sq ft)
4,460.04,460.04,420.04,420.04,445.04,404.04,404.04,404.04,334.04,301.04,207.04,207.0
Store Count Rollforward — Ending Store Count (stores)2
2,0192,0021,9951,9951,9821,9811,9781,9781,9661,9631,9561,956
Beginning Store Count (stores)
2,0021,9951,9951,9821,9811,9781,9781,9661,9631,9561,9561,955
Stores Opened During Period (stores)
1770141301337010
Cost of Sales — Merchandising Costs ($M)($M)2
15,77516,27820,18716,26116,17715,35520,49816,44716,09315,846
Cost of Sales — Supply Chain & Digital Fulfillment Costs ($M)($M)
1,8281,7832,1561,8761,7261,7732,3041,9551,7331,625
Segment Depreciation & Amortization ($M)($M)
651685681649632655646639626618
Gross Margin Rate (% of Merchandise Sales)(%)5
33.7%29.0%29.0%28.2%
GAAP SG&A Expense Rate (% of Total Revenue)(%)
21.6%21.9%19.9%21.9%21.3%19.3%
Non-GAAP Adjusted SG&A Expense Rate (% of Total Revenue)(%)
21.6%21.9%19.6%21.3%21.3%21.7%
Depreciation & Amortization Rate (% of Total Revenue)(%)
2.5%2.7%2.5%2.7%
GAAP Operating Income Margin Rate (% of Total Revenue)(%)
9.6%4.5%4.5%3.8%5.2%6.2%
Non-GAAP Adjusted Operating Income Margin Rate (% of Total Revenue)(%)
9.6%4.5%4.8%4.4%5.2%3.7%
Non-GAAP Adjusted Diluted Earnings Per Share ($/sh)($)4
4.111.712.441.782.051.302.411.852.572.032.982.10
Non-GAAP Adjusted Operating Income ($M)($M)
2,5601,1351,4701,1091,317879
GAAP Operating Income in Non-GAAP Reconciliation ($M)($M)
2,5601,1351,3809481,3171,472
Non-GAAP Adjusted SG&A Expenses ($M)($M)
5,7255,5625,9605,3755,3595,183
GAAP SG&A Expenses in Non-GAAP Reconciliation ($M)($M)
5,7255,5626,0495,5365,3594,591
After-Tax Return on Invested Capital — Trailing Twelve Months ROIC (%)(%)2
15.4%12.4%13.8%13.4%14.3%15.1%15.4%15.9%16.6%15.4%16.1%13.9%
ROIC Numerator — Trailing Twelve Months Net Operating Profit After Taxes (NOPAT, $M)($M)5
4,8583,9354,1854,2304,3854,6364,5344,8234,9344,5934,6244,136
TTM Operating Income ($M)($M)
6,0244,7815,1175,2045,4255,7425,5665,9646,1135,6755,7075,001
TTM Net Other Income / (Expense) ($M)($M)
6484959799102106105102999279
TTM Earnings Before Interest and Taxes (EBIT, $M)($M)
6,0884,8655,2125,3015,5245,8445,6726,0696,2155,7745,7995,080
TTM Estimated Operating Lease Interest Add-Back ($M)($M)
172173172167166165159157146133120106
TTM Income Taxes on Operating Profit ($M)($M)
1,4021,1031,1991,2381,3051,3731,2971,4031,4271,3141,2951,050
ROIC Denominator — Average Invested Capital ($M)($M)6
31,47031,76130,37331,45130,71530,75729,52630,37629,76029,73728,67429,670
Ending Invested Capital ($M)($M)
31,52232,06830,96732,10231,41831,45529,77930,80230,01230,06029,27329,950
Current Portion of Long-Term Debt & Other Borrowings ($M)($M)
1,1361,1332,1301,1331,1361,1391,6361,6351,6402,6141,1161,112
Noncurrent Portion of Long-Term Debt ($M)($M)
14,22114,28214,32615,36615,32014,33414,30414,34613,65413,48714,92214,883
Total Shareholders' Investment ($M)($M)
17,84316,39516,16515,50115,42014,94714,66614,48914,42913,84013,43212,514
Operating Lease Liabilities (Current + Noncurrent, $M)($M)
3,7333,7923,8343,9243,8833,9223,9353,7653,7863,7233,6083,351
Less: Cash and Cash Equivalents ($M)($M)
5,4113,5345,4883,8224,3412,8874,7623,4333,4973,6043,8051,910
Deferred Gift Card Liability ($M)($M)3
9591,0151,1979241,0051,0311,2099449921,0671,162910
Gift Cards Issued During Period ($M)($M)
138238388341762513856211331836367
Gift Card Revenue Recognized from Beginning Liability ($M)($M)
194420115115202429120110188413111117
Sales Return / Merchandise Refund Liability ($M)($M)
178191155187179186172204193198170207
Supplier Finance Program — Confirmed Obligations Outstanding ($M)($M)
3,2002,8003,0003,4002,9003,3003,6664,7003,7003,3003,3984,500
Total Gross Property and Equipment at Cost ($M)1
Long-Lived Asset Impairment Charges ($M)($M)
330353431136464
Total Net Lease Cost (ASC 842, $M)2
Operating Lease ROU Asset Additions ($M)($M)
394590172497034254148214348342
Finance Lease ROU Asset Additions ($M)($M)
1804592417781821221866
Total Operating Lease Liabilities ($M)2
Operating Lease Right-of-Use (ROU) Assets ($M)($M)
3,5873,6523,7033,7393,6943,7393,7633,5133,5453,4863,3623,086
Noncurrent Operating Lease Liabilities ($M)($M)
3,3323,4163,4623,5423,5143,5643,5823,4183,4443,3923,2793,031
Share Repurchases — Total Investment ($M)($M)3
0001520251506354155000
Common Shares Repurchased (million shares)(M)
0001.7002.203.702.401.10000
Average Price Paid per Share Repurchased ($/sh)($)
0091.59011514714600
Remaining Share Repurchase Program Authorization Capacity ($B)
8.308.308.308.308.408.408.709.209.509.709.709.70
Dividends Declared per Common Share ($/sh)($)1
1.161.141.141.141.141.121.121.121.121.101.10
Cash Dividends Paid ($M)($M)
518516516518509510513516509508508507
Effective Income Tax Rate (%)1
Deferred Income Tax Provision / (Benefit) — Total ($M)($M)
65173-34-1337636-122-74-486446111
Total Merchandise Sales by Product Category ($M)($M)8
25,94724,89429,84124,75224,71923,40530,42825,22825,02124,14331,46725,004
Apparel & Accessories Sales ($M)($M)
4,0903,8464,1023,8384,0863,7114,3444,0034,2613,8974,4104,007
Beauty Sales ($M)($M)
3,6393,3983,4853,2323,3963,1013,4443,2263,3843,1193,4243,013
Food & Beverage Sales ($M)($M)
5,9916,2636,6376,0085,5885,9026,5205,9175,5385,8536,7745,736
Hardlines Sales ($M)($M)
3,8943,5226,0143,1903,5223,0746,1503,1523,3223,1606,1963,192
Home Furnishings & Décor Sales ($M)($M)
3,6683,2394,8193,9083,6623,2205,0874,1853,9083,5195,5304,420
Household Essentials Sales ($M)($M)
4,6174,5704,6964,5424,4224,3574,7864,7154,5644,5495,0464,606
Beauty & Household Essentials Combined Sales (Legacy FY17–FY22, $M)($M)
8,4707,619
Other Merchandise Sales ($M)($M)
485688344340973044468730
Total Revenue ($M)($M)10
26,53925,44330,45325,27025,21123,84630,91525,66825,45224,53131,91925,398
Total Other Revenue — Roundel, Credit Card Profit Sharing & Membership (Legacy FY09–FY22, $M)($M)
440431388452394
Cost of Sales ($M)($M)
17,60318,06122,34318,13717,90317,12822,80218,40217,82617,47123,49518,149
Selling, General and Administrative Expenses (SG&A, $M)($M)
5,7255,5626,0495,5365,3594,5916,0005,4595,3655,1465,9375,316
Depreciation and Amortization (Exclusive of COS, $M)($M)
784813803773771787766754743718729722
Operating Income ($M)($M)
2,5601,1351,3809481,3171,4721,4671,1681,6351,2961,8651,317
Net Interest Expense ($M)($M)
981179911511611690105110106107107
Net Other (Income) / Expense ($M)($M)
-31527261726292820292825
Earnings Before Income Taxes ($M)($M)
2,4591,0331,3088591,2181,3821,4061,0911,5451,2191,7861,235
Provision for Income Taxes ($M)($M)
582252263170283346303237353277404264
Net Earnings ($M)($M)
1,8777811,0466899351,0361,1038541,1929421,382971
GAAP Diluted Earnings Per Share ($/sh)($)3
4.111.711.512.052.271.852.572.032.10
GAAP Basic Earnings Per Share ($/sh)($)
4.131.721.522.062.281.862.582.042.10
Weighted-Average Diluted Shares Outstanding (million shares)(M)
457456455456457462464464463
Weighted-Average Basic Shares Outstanding (million shares)(M)
454454454455455460463462462
Total Assets ($M)($M)4
61,23558,01059,49059,99157,85156,18557,76958,53155,99555,11755,35656,229
Total Current Assets ($M)($M)3
20,92818,06520,00520,70219,03417,75919,45420,55417,91817,07817,49818,599
Cash and Cash Equivalents ($M)($M)
5,4113,5345,4883,8224,3412,8874,7623,4333,4973,6043,8051,910
Inventory ($M)($M)
13,24912,31712,30414,89612,88113,04812,74015,16512,60411,73011,88614,731
Other Current Assets ($M)($M)
2,2682,2142,2131,9841,8121,8241,9521,9561,8171,7441,8071,958
Property and Equipment, Net ($M)($M)
34,76734,17533,74933,71033,56833,18233,02232,93133,07533,11433,09633,168
Operating Lease Assets ($M)($M)
3,5873,6523,7033,7393,6943,7393,7633,5133,5453,4863,3623,086
Other Noncurrent Assets ($M)($M)
1,9532,1182,0331,8401,5551,5051,5301,5331,4571,4391,4001,376
Total Liabilities ($M)5
Total Current Liabilities ($M)($M)4
21,18019,38421,23021,24219,22318,99120,79921,79219,98419,85919,30421,502
Accounts Payable ($M)($M)
13,30612,18812,62213,79212,01911,82313,05314,41912,59511,56112,09814,291
Accrued and Other Current Liabilities ($M)($M)
6,7386,0636,4786,3176,0686,0296,1105,7385,7495,6846,0906,099
Current Portion of Long-Term Debt and Other Borrowings ($M)($M)
1,1361,1332,1301,1331,1361,1391,6361,6351,6402,6141,1161,112
Current Operating Lease Liabilities ($M)($M)
372353329
Long-Term Debt and Other Borrowings ($M)($M)
14,22114,28214,32615,36615,32014,33414,30414,34613,65413,48714,92214,883
Noncurrent Operating Lease Liabilities ($M)($M)
3,3323,4163,4623,5423,5143,5643,5823,4183,4443,3923,2793,031
Deferred Income Taxes ($M)($M)
2,5042,4382,2652,2792,4132,3382,3032,4192,4952,5432,4802,447
Other Noncurrent Liabilities ($M)($M)
2,1552,0952,0422,0611,9612,0112,1152,0671,9891,9961,9391,852
Total Shareholders' Investment ($M)($M)5
17,84316,39516,16515,50115,42014,94714,66614,48914,42913,84013,43212,514
Common Stock ($M)($M)
383838383838383838393838
Additional Paid-In Capital ($M)($M)
7,3297,2207,2477,1577,0847,0116,9966,9166,8316,7476,7616,681
Retained Earnings ($M)($M)
10,8909,5529,2978,7778,7668,3608,0908,0098,0307,5197,0936,225
Accumulated Other Comprehensive Loss ($M)($M)
-414-415-417-471-468-462-458-474-470-465-460-430
Common Shares Outstanding at Period End (million shares)(M)
454454453453454454456459462463462462
Net Cash Provided by Operating Activities ($M)($M)9
3,8037163,0771,1272,0832753,2897392,2381,1013,2891,934
Additions to Property and Equipment — Capital Expenditures ($M)($M)
1,3691,0358859781,0747909236556396748541,127
Share-Based Compensation (Cash Flow, $M)($M)
1005484646469758077727569
Operating Cash Flow Impact — Inventory Change ($M)($M)
-932-132,592-2,015167-3082,425-2,561-8741562,845-2,047
Operating Cash Flow Impact — Accounts Payable Change ($M)($M)
1,169-557-1,1591,783219-1,344-1,3541,8401,046-524-2,1032,024
Net Cash Used in Investing Activities ($M)($M)
-1,364-1,033-859-937-1,066-787-918-637-634-671-850-1,089
Net Cash Used in Financing Activities ($M)($M)
-562-1,637-552-709437-1,363-1,042-166-1,711-631-544-552
Additions to Long-Term Debt ($M)($M)
00009939910741000
Reductions of Long-Term Debt ($M)($M)
381,0323438371,53427361,044323342
Net Increase / (Decrease) in Cash and Cash Equivalents ($M)($M)
1,877-1,9541,666-5191,454-1,8751,329-64-107-2011,895293

5 metrics have no data in the last 12 quarters — .

Italic numbers are calculated by StockData from reported figures (hover for the formula). Numbers with a dotted underline are read from the text of earnings releases and presentations; hover to see the exact sentence. Tick a row to add it to the chart above (up to 8 lines).

Methodology and excluded metrics
  • Fiscal calendar: Target Corporation operates on a 52/53-week fiscal year ending on the Saturday nearest January 31. Target designates each fiscal year by the calendar year in which 11 of its 12 months fall: FY2025 (52 weeks) ended January 31, 2026, Q1 FY2026 ended May 2, 2026, and Q2 FY2026 ended August 1, 2026 (the latest reported quarter). FY2023 (ended February 3, 2024) and FY2017 (ended February 3, 2018) were 53-week fiscal years.
  • Core operational & omnichannel KPIs (Groups 1–4) cover: (1) Comparable Sales Growth (+3.8% in Q2 FY26, +5.6% in Q1 FY26, -2.5% in Q4 FY25, -2.6% in FY25) decomposed into Comparable Traffic (+2.1% in Q2 FY26) × Average Transaction Amount (+1.7% in Q2 FY26), and Store-Originated (+3.6%) vs. Digitally-Originated (+4.9%) Comparable Sales; (2) Omnichannel Origination (80.9% store-originated vs. 19.1% digitally-originated in Q2 FY26), Stores-as-Hubs Fulfillment (97.9% of total sales fulfilled by stores vs. 2.1% by distribution centers/other in Q2 FY26), Roundel Digital Advertising Revenue ($198M in Q2 FY26, $727M in FY25), Credit Card Profit Sharing ($129M in Q2 FY26, $538M in FY25), and Target Circle Card (formerly RedCard) Penetration (tracked across 40 quarters FY15Q4–FY25Q3 and 11 fiscal years FY14–FY24); (3) Store Fleet across 3 format tiers totaling 2,019 stores and 248.47M retail sq. ft. at Q2 FY26 (274 stores >=170k sq. ft., 1,598 stores 50k–169.9k sq. ft., 147 small-format stores <=49.9k sq. ft.), Store Activity Rollforward (Beginning, Opened, Closed, Ending), Store Ownership (1,575 owned, 248 leased, 172 owned buildings on leased land at FY25), and Supply Chain Network (61 distribution/sortation/food facilities totaling 65.5M sq. ft. at FY25); and (4) Store Count & Retail Square Footage across all 50 U.S. States and the District of Columbia.
  • Extended operational & financial disclosures (Groups 5–10) cover: (5) ASU 2023-07 Cost of Sales Disaggregation (Merchandising Costs $17,225M vs. Supply Chain & Digital Fulfillment Costs $1,514M in Q2 FY26), Operating Margin Rates, Non-GAAP Adjusted EPS ($4.11 in Q2 FY26) & Adjusted Operating Income, and full Trailing Twelve Months After-Tax Return on Invested Capital (ROIC = 15.4% in Q2 FY26: $4,757M TTM NOPAT ÷ $30,858M Average Invested Capital); (6) Deferred Gift Card Liability ($845M at Q2 FY26; $3,849M gift cards issued in FY25), Sales Return Refund Liability ($139M at Q2 FY26), Confirmed Supplier Finance Program Obligations ($2,758M at Q2 FY26; $10,803M confirmed and $10,771M settled in FY25), Gross PP&E by Asset Class, and ASC 842 Operating & Finance Lease Portfolios; (7) Capital Allocation (Share Repurchases, Dividends, $7.9B remaining buyback authorization at Q2 FY26), Debt Maturities, Share-Based Compensation, 401(k) & Pension Plans, and Income Tax Disaggregation; (8) Workforce (415,000 team members, $19.03/hr average hourly wage, 401(k) participation, 21,499 enrolled in Dream to Be tuition-free education), DEF 14A CEO Pay Ratio (682:1 in FY25), Form SD Conflict Minerals (236 unique 3TG smelters, 99% vendor response rate in FY25), Global Owned-Brand Manufacturing Facilities (4,158 active facilities across 63 countries in FY25), Scope 1/2/3 GHG Emissions, 100% Renewable Electricity in FY25, Operational Waste (88% diversion rate in FY25), Circular Materials, Water & Community Giving ($458M donated in FY25); (9) 22 Monthly FRED U.S. Retail Benchmarks; and (10) Merchandise Category Sales & Consolidated Financial Statements from Postgres DB.
  • Consolidated − Standalone evaluation (Step 4): Under U.S. GAAP, Target Corporation files only consolidated financial statements in Form 10-K/10-Q (Schedule I parent-only financial statements are omitted because restricted net assets of subsidiaries do not exceed 25% of consolidated net assets), so no Consolidated − Standalone subtraction is applicable. All values are strictly as published (with verbatim quotes on hover for text-extracted metrics); the only arithmetic in table cells is period splitting (Q4 = full year − 9M; quarterly cash flow = YTD − prior YTD), shown in italic with the formula.

Data updated 2026-10-28.

Every KPI on its own page

Full history, chart, sources and a citation for each metric

Comparable Sales Growth, Traffic × Average Ticket & Channel Contribution (Core Operational KPIs)

Omnichannel Origination, Store-as-a-Hub Fulfillment, Roundel Advertising & Target Circle Card

Store Fleet by Format Size, Retail Square Footage, Store Activity & Supply Chain Network

Store Network & Retail Square Footage Across All 50 U.S. States & D.C. (Form 10-K Item 2)

Cost of Sales Disaggregation, Operating Margin Rates, Non-GAAP Reconciliations & After-Tax ROIC

Gift Card Liabilities, Supplier Finance Program, PP&E by Asset Class & Lease Portfolio (ASC 842)

Share Repurchases, Dividends, Debt Maturities, Employee Benefits & Tax Disaggregation

Workforce, Governance (DEF 14A), Responsible Supply Chain (Form SD) & Sustainability (ESG)

U.S. General Merchandise, Retail & Consumer Macroeconomic Benchmarks (FRED / U.S. Census / BLS)

Merchandise Category Disaggregation & Consolidated Financial Statements (Postgres DB)