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Target (TGT) | Financial Analysis & Statements

Target Corporation | Large-cap | Consumer Defensive

$105.40

-0.26%

Target vs Walmart Target vs Costco Wholesale Target vs Dollar Tree Target vs Dollar General Target vs BJ's Wholesale Club Target vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Apr 2025

Income Metrics

Revenue 23.8B

Gross Profit 6.7B 28.17%

Operating Income 1.5B 6.17%

Net Income 1.0B 4.34%

EPS (Diluted) $2.27

Balance Sheet Metrics

Total Assets 56.2B

Total Liabilities 41.2B

Shareholders Equity 14.9B

Debt to Equity 2.76

Cash Flow Metrics

Operating Cash Flow 418.0M

Free Cash Flow -515.0M

Revenue & Profitability Trend

Interactive Financial Charts Not Available

This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Target Income Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Revenue i	106.6B	107.4B	109.1B	106.0B	93.6B
Cost of Goods Sold i	76.5B	77.7B	82.2B	75.0B	66.2B
Gross Profit i	30.1B	29.7B	26.9B	31.0B	27.4B
Gross Margin % i	28.2%	27.6%	24.6%	29.3%	29.3%
Operating Expenses
Research & Development i	-	-	-	-	-
Selling, General & Administrative i	22.0B	21.6B	20.7B	19.8B	18.6B
Other Operating Expenses i	-	-	-	-	-
Total Operating Expenses i	22.0B	21.6B	20.7B	19.8B	18.6B
Operating Income i	5.6B	5.7B	3.8B	8.9B	6.5B
Operating Margin % i	5.2%	5.3%	3.5%	8.4%	7.0%
Non-Operating Items
Interest Income i	-	-	-	-	-
Interest Expense i	411.0M	502.0M	478.0M	421.0M	977.0M
Other Non-Operating Income	106.0M	92.0M	48.0M	382.0M	-16.0M
Pre-tax Income i	5.3B	5.3B	3.4B	8.9B	5.5B
Income Tax i	1.2B	1.2B	638.0M	2.0B	1.2B
Effective Tax Rate % i	22.2%	21.9%	18.7%	22.0%	21.2%
Net Income i	4.1B	4.1B	2.8B	6.9B	4.4B
Net Margin % i	3.8%	3.9%	2.5%	6.6%	4.7%
Key Metrics
EBITDA i	8.7B	8.6B	6.6B	12.0B	9.0B
EPS (Basic) i	$8.89	$8.96	$6.02	$14.23	$8.72
EPS (Diluted) i	$8.86	$8.94	$5.98	$14.10	$8.64
Basic Shares Outstanding i	460400000	461500000	462100000	488100000	500600000
Diluted Shares Outstanding i	460400000	461500000	462100000	488100000	500600000

Income Statement Trend

Target Balance Sheet From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Assets
Current Assets
Cash & Equivalents i	4.8B	3.8B	2.2B	5.9B	8.5B
Short-term Investments i	-	-	1.3B	5.0B	7.6B
Accounts Receivable i	998.0M	891.0M	1.2B	835.0M	631.0M
Inventory i	12.7B	11.9B	13.5B	13.9B	10.7B
Other Current Assets	185.0M	202.0M	235.0M	237.0M	286.0M
Total Current Assets i	19.5B	17.5B	17.8B	21.6B	20.8B
Non-Current Assets
Property, Plant & Equipment i	3.8B	3.4B	2.7B	2.6B	2.2B
Goodwill i	1.3B	639.0M	645.0M	1.3B	1.3B
Intangible Assets i	-	-	-	25.0M	37.0M
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	238.0M	221.0M	160.0M	375.0M	268.0M
Total Non-Current Assets i	38.3B	37.9B	35.5B	32.2B	30.5B
Total Assets i	57.8B	55.4B	53.3B	53.8B	51.2B
Liabilities
Current Liabilities
Accounts Payable i	13.1B	12.1B	13.5B	15.5B	12.9B
Short-term Debt i	2.0B	1.4B	426.0M	425.0M	1.4B
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	1.1B	2.6B	2.7B	2.5B	2.5B
Total Current Liabilities i	20.8B	19.3B	19.5B	21.7B	20.1B
Non-Current Liabilities
Long-term Debt i	17.9B	18.2B	18.6B	16.0B	13.8B
Deferred Tax Liabilities i	2.3B	2.5B	2.2B	1.6B	990.0M
Other Non-Current Liabilities	169.0M	181.0M	169.0M	44.0M	47.0M
Total Non-Current Liabilities i	22.3B	22.6B	22.6B	19.2B	16.7B
Total Liabilities i	43.1B	41.9B	42.1B	41.0B	36.8B
Equity
Common Stock i	38.0M	38.0M	38.0M	39.0M	42.0M
Retained Earnings i	8.1B	7.1B	5.0B	6.9B	8.8B
Treasury Stock i	-	-	-	-	-
Other Equity	-	-	-	-	-
Total Shareholders Equity i	14.7B	13.4B	11.2B	12.8B	14.4B
Key Metrics
Total Debt i	19.9B	19.6B	19.1B	16.5B	15.1B
Working Capital i	-1.3B	-1.8B	-1.7B	-174.0M	631.0M

Balance Sheet Composition

Target Cash Flow Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Operating Activities
Net Income i	4.1B	4.1B	2.8B	6.9B	4.4B
Depreciation & Amortization i	3.0B	2.8B	2.7B	2.6B	2.5B
Stock-Based Compensation i	304.0M	251.0M	220.0M	228.0M	200.0M
Working Capital Changes i	-154.0M	312.0M	-1.8B	-699.0M	1.1B
Operating Cash Flow i	7.1B	7.9B	4.6B	9.7B	8.1B
Investing Activities
Capital Expenditures i	3.0M	24.0M	8.0M	27.0M	42.0M
Acquisitions i	-	0	0	356.0M	0
Investment Purchases i	-	-	-	-	-
Investment Sales i	-	-	-	-	-
Investing Cash Flow i	3.0M	24.0M	8.0M	383.0M	42.0M
Financing Activities
Share Repurchases i	-1.0B	0	-2.6B	-7.2B	-745.0M
Dividends Paid i	-2.0B	-2.0B	-1.8B	-1.5B	-1.3B
Debt Issuance i	741.0M	0	2.6B	2.0B	2.5B
Debt Repayment i	-1.1B	-147.0M	-163.0M	-1.1B	-2.4B
Financing Cash Flow i	-3.6B	-2.3B	-2.2B	-8.1B	-2.0B
Free Cash Flow i	4.5B	3.8B	-1.5B	5.1B	7.9B
Net Change in Cash i	3.5B	5.6B	2.4B	2.0B	6.1B

Cash Flow Trend

Target Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 11.58

Forward P/E 10.03

Price to Book 3.20

Price to Sales 0.45

PEG Ratio 10.03

Profitability Ratios

Profit Margin 3.95%

Operating Margin 6.28%

Return on Equity 29.08%

Return on Assets 6.64%

Financial Health

Current Ratio 0.94

Debt to Equity 130.21

Beta 1.22

Per Share Data

EPS (TTM) $9.10

Book Value per Share $32.90

Revenue per Share $230.88

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
tgt	47.9B	11.58	3.20	29.08%	3.95%	130.21
Walmart	827.8B	44.33	9.89	21.78%	2.75%	75.78
Costco Wholesale	435.0B	55.55	16.04	32.08%	2.92%	30.81
Dollar Tree	24.2B	22.90	6.25	19.40%	-16.55%	202.51
Dollar General	23.7B	20.53	3.07	15.70%	2.81%	220.91
BJ's Wholesale Club	14.3B	25.14	7.24	32.76%	2.76%	136.72

Financial data is updated regularly. All figures are in the company's reporting currency.