What is Target Corporation's earnings per share (EPS)?

Target Corporation (TGT) reported diluted earnings per share of $8.13 for fiscal year 2025. This represents a -8.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Target Corporation (TGT) Financials

TGT

FY2025 annual

Revenue $104.8B -1.7% YoY

Net Income $3.7B -9.4% YoY

EPS (Diluted) $8.13 -8.2% YoY

Free Cash Flow $2.8B -36.7% YoY

Market Cap $70.9B as of Oct 3, 2026

Price / Sales 0.7x on $104.8B revenue, FY2025

Price / Earnings 19.1x on $3.7B net income, FY2025

Price / Book 4.0x on $17.8B equity, Q3 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2027, ended Aug 1, 2026 Reported Aug 28, 2026 Currency USD FYE January

Newest figures come from the 10-Q for Q3 FY2027, filed Aug 28, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TGT SEC filings page.

Target Corporation (TGT) reported $104.8B in revenue for fiscal year 2025, down 1.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI TGT FY2025 2026-10-03

Target operates on thin retail margins: modest sales contraction, recovering profitability, and cash generation constrained by reinvestment.

In FY2025, net income of $3.7B sat below operating cash flow of $6.6B, indicating earnings were converted into cash before reinvestment. That conversion did not all remain after capital spending: $3.7B of investment left free cash flow at $2.8B, making reinvestment a meaningful claim on internally generated cash.

Gross margin recovery lifted the rate from 24.6% in FY2022 to 27.9% in FY2025, reversing much of the earlier compression. Operating margin was only 4.9% in FY2025, showing that improvement above gross profit has not fully translated into operating earnings.

Debt-to-equity fell from 1.4x in FY2022 to 0.9x in FY2025, indicating a less debt-heavy capital structure. The current ratio was 0.9x, meaning short-term obligations exceeded short-term assets and the business relies partly on continuing operating and supplier flows.

Financial Health Signals

Financial Health Score 43/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Target Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Target Corporation has an operating margin of 4.9%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 57/100, indicating healthy but not exceptional operating efficiency. This is down from 5.2% the prior year.

Growth

Target Corporation's revenue declined 1.7% year-over-year, from $106.6B to $104.8B. This contraction results in a growth score of 27/100.

Leverage

Target Corporation has a moderate D/E ratio of 0.89. This balance of debt and equity financing earns a leverage score of 46/100.

Liquidity

Target Corporation's current ratio of 0.94 is below the typical benchmark, resulting in a score of 16/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Target Corporation has a free cash flow margin of 2.7%, earning a moderate score of 38/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Target Corporation earns a strong 22.9% return on equity (ROE), meaning it generates $23 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 75/100. This is down from 27.9% the prior year.

Altman Z-Score Safe

3.22

Target Corporation scores 3.22, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

6/9

Target Corporation passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.77x

For every $1 of reported earnings, Target Corporation generates $1.77 in operating cash flow ($6.6B OCF vs $3.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

11.50x

Target Corporation earns $11.50 in operating income for every $1 of interest expense ($5.1B vs $445.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$26.5B

YoY+5.3%

QoQ+4.3%

5Y CAGR-1.3%

10Y CAGR+4.2%

Target Corporation generated $26.5B in revenue in Q3 2027. This represents an increase of 5.3% from the same quarter a year earlier. Against the prior quarter it is up 4.3%.

EBITDA

$3.2B

YoY+64.8%

QoQ+64.8%

5Y CAGR+4.3%

Target Corporation's EBITDA was $3.2B in Q3 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 64.8% from the same quarter a year earlier. Against the prior quarter it is up 64.8%.

Net Income

$1.9B

YoY+100.7%

QoQ+140.3%

5Y CAGR+6.3%

10Y CAGR+13.1%

Target Corporation reported $1.9B in net income in Q3 2027. This represents an increase of 100.7% from the same quarter a year earlier. Against the prior quarter it is up 140.3%.

EPS (Diluted)

$4.11

YoY+100.5%

QoQ+140.4%

5Y CAGR+8.5%

10Y CAGR+16.8%

Target Corporation earned $4.11 per diluted share (EPS) in Q3 2027. This represents an increase of 100.5% from the same quarter a year earlier. Against the prior quarter it is up 140.4%.

Cash & Balance Sheet

Free Cash Flow

$2.4B

YoY+141.2%

QoQ+863.0%

5Y CAGR-3.0%

10Y CAGR+15.9%

Target Corporation generated $2.4B in free cash flow in Q3 2027, representing cash available after capex. This represents an increase of 141.2% from the same quarter a year earlier. Against the prior quarter it is up 863.0%.

Cash & Debt

$5.4B

YoY+24.6%

QoQ+53.1%

5Y CAGR-8.7%

10Y CAGR+10.6%

Target Corporation held $5.4B in cash against $14.2B in long-term debt as of Q3 2027.

Dividends Per Share

$1.16

YoY+1.8%

QoQ+1.8%

Target Corporation paid $1.16 per share in dividends in Q3 2027. This represents an increase of 1.8% from the same quarter a year earlier. Against the prior quarter it is up 1.8%.

Shares Outstanding

454M

YoY0.0%

QoQ0.0%

5Y CAGR-1.8%

10Y CAGR-3.0%

Target Corporation had 454M shares outstanding in Q3 2027. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Gross Margin

33.7%

YoY+4.7pp

QoQ+4.7pp

Target Corporation's gross margin was 33.7% in Q3 2027, indicating the percentage of revenue retained after direct costs. This is up 4.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.7 percentage points.

Operating Margin

9.7%

YoY+4.4pp

QoQ+5.2pp

5Y change+3.2pp

Target Corporation's operating margin was 9.7% in Q3 2027, reflecting core business profitability. This is up 4.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.2 percentage points.

Net Margin

7.1%

YoY+3.4pp

QoQ+4.0pp

5Y change+2.2pp

10Y change+4.0pp

Target Corporation's net profit margin was 7.1% in Q3 2027, showing the share of revenue converted to profit. This is up 3.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.0 percentage points.

Return on Equity

10.5%

YoY+4.5pp

QoQ+5.8pp

5Y change+1.0pp

10Y change+6.4pp

Target Corporation's ROE was 10.5% in Q3 2027, measuring profit generated per dollar of shareholder equity. This is up 4.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.8 percentage points.

Capital Allocation

Share Buybacks

$3.0M

YoY-62.5%

5Y CAGR-5.6%

10Y CAGR-43.7%

Target Corporation spent $3.0M on share buybacks in Q3 2027, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 62.5% from the same quarter a year earlier.

Capital Expenditures

$1.4B

YoY+27.5%

QoQ+32.3%

5Y CAGR+16.4%

10Y CAGR+12.6%

Target Corporation invested $1.4B in capex in Q3 2027, funding long-term assets and infrastructure. This represents an increase of 27.5% from the same quarter a year earlier. Against the prior quarter it is up 32.3%.

R&D Spending

Not reported for Q3 2027.

TGT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TGT quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$104.8B-1.7%	$106.6B-0.8%	$107.4B-1.6%	$109.1B+2.9%	$106.0B+13.3%	$93.6B+19.8%	$78.1B+3.7%	$75.4B+3.6%	$72.7B+3.5%	$70.3B-4.8%	$73.8B+1.6%	$72.6B+1.9%	$71.3B-2.8%	$73.3B+4.9%	$69.9B
Cost of Revenue	$75.5B-1.3%	$76.5B-1.7%	$77.8B-5.4%	$82.3B+9.8%	$75.0B+13.3%	$66.2B+20.6%	$54.9B+2.9%	$53.3B+4.3%	$51.1B+4.0%	$49.1B-5.9%	$52.2B+1.9%	$51.3B+2.5%	$50.0B-1.0%	$50.6B+5.7%	$47.9B
Gross Profit	$29.3B-2.6%	$30.1B+1.6%	$29.6B+10.3%	$26.8B-13.6%	$31.0B+13.4%	$27.4B+17.8%	$23.2B+5.4%	$22.1B+6.3%	$20.8B+2.0%	$20.4B-5.5%	$21.5B+1.0%	$21.3B+0.5%	$21.2B-6.6%	$22.7B+3.3%	$22.0B
SG&A Expenses	$21.5B-2.0%	$22.0B+2.4%	$21.5B+4.3%	$20.6B+4.2%	$19.8B+6.1%	$18.6B+14.7%	$16.2B+3.2%	$15.7B+3.9%	$15.1B+6.5%	$14.2B-3.1%	$14.7B-0.1%	$14.7B+1.5%	$14.5B-1.2%	$14.6B+3.8%	$14.1B
Operating Income	$5.1B-8.1%	$5.6B-2.5%	$5.7B+48.3%	$3.8B-57.0%	$8.9B+36.8%	$6.5B+40.4%	$4.7B+13.3%	$4.1B-2.7%	$4.2B-13.2%	$4.9B	N/A	N/A	N/A	$5.2B-0.8%	$5.3B
EBITDA	$8.3B-3.5%	$8.5B+0.5%	$8.5B+29.9%	$6.5B-43.5%	$11.6B+28.4%	$9.0B+24.3%	$7.3B+10.3%	$6.6B-1.7%	$6.7B-6.7%	$7.2B	N/A	N/A	N/A	$7.3B-1.8%	$7.4B
Interest Expense	$445.0M+8.3%	$411.0M-18.1%	$502.0M+5.0%	$478.0M+13.5%	$421.0M-56.9%	$977.0M+104.8%	$477.0M+3.5%	$461.0M-29.4%	$653.0M-34.1%	$991.0M+63.3%	$607.0M-31.2%	$882.0M-15.9%	$1.0B+53.4%	$684.0M-21.0%	$866.0M
Income Tax	$1.1B-9.2%	$1.2B+0.9%	$1.2B+81.7%	$638.0M-67.5%	$2.0B+66.5%	$1.2B+27.9%	$921.0M+23.5%	$746.0M+3.3%	$722.0M-44.2%	$1.3B-19.2%	$1.6B+33.1%	$1.2B-15.6%	$1.4B-18.0%	$1.7B+14.0%	$1.5B
Net Income	$3.7B-9.4%	$4.1B-1.1%	$4.1B+48.8%	$2.8B-60.0%	$6.9B+59.0%	$4.4B+33.1%	$3.3B+11.7%	$2.9B+0.8%	$2.9B+6.6%	$2.7B-18.7%	$3.4B+305.6%	-$1.6B-183.0%	$2.0B-34.3%	$3.0B+2.4%	$2.9B
EPS (Basic)	$8.16-8.2%	$8.89-0.8%	$8.96+48.8%	$6.02-57.7%	$14.23+63.2%	$8.72+35.8%	$6.42+15.7%	$5.55+4.3%	$5.32+12.5%	$4.73-11.6%	$5.35+307.4%	-$2.58-183.2%	$3.10-32.2%	$4.57+6.0%	$4.31
EPS (Diluted)	$8.13-8.2%	$8.86-0.9%	$8.94+49.5%	$5.98-57.6%	$14.10+63.2%	$8.64+35.8%	$6.36+15.4%	$5.51+4.2%	$5.29+12.8%	$4.69-11.7%	$5.31+307.4%	-$2.56-183.4%	$3.07-32.1%	$4.52+5.6%	$4.28
Diluted Shares (Avg)	456M-1.3%	462M-0.2%	463M-0.4%	465M-5.7%	493M-2.5%	505M-2.0%	516M-3.3%	533M-3.1%	550M-5.5%	583M-8.0%	633M-1.1%	640M-0.3%	642M-3.2%	663M-3.0%	684M

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q
Revenue	$26.5B+5.3%	$25.4B+6.7%	$25.3B-1.6%	$25.2B-0.9%	$23.8B-2.8%	$31.6B-3.4%	$25.7B	$25.5B+0.2%
Cost of Revenue	$17.6B-1.7%	$18.1B+5.4%	$18.1B-1.4%	$17.9B+0.4%	$17.1B-2.0%	$23.1B-5.2%	$18.4B	$17.8B-1.8%
Gross Profit	$8.9B+22.3%	$7.4B+9.9%	$7.1B-1.8%	$7.3B-4.2%	$6.7B-4.8%	$8.5B+1.9%	$7.3B	$7.6B+5.2%
SG&A Expenses	$5.7B+6.8%	$5.6B+21.2%	$5.5B+1.4%	$5.4B-0.1%	$4.6B-10.8%	$6.6B+12.7%	$5.5B	$5.4B+0.9%
Operating Income	$2.6B+94.4%	$1.1B-22.9%	$948.0M-18.8%	$1.3B-19.4%	$1.5B+13.6%	$1.3B-31.9%	$1.2B	$1.6B+24.1%
EBITDA	$3.2B+64.8%	$1.9B-13.8%	$1.6B-11.6%	$1.9B-13.8%	$2.3B+12.2%	$2.2B-19.9%	$1.8B	$2.3B+17.0%
Interest Expense	$98.0M-15.5%	$117.0M+0.9%	$115.0M+9.5%	$116.0M+5.5%	$116.0M+9.4%	$80.0M-45.9%	$105.0M	$110.0M+2.8%
Income Tax	$582.0M+105.7%	$252.0M-27.2%	$170.0M-28.3%	$283.0M-19.8%	$346.0M+24.9%	$234.0M-38.6%	$237.0M	$353.0M+33.7%
Net Income	$1.9B+100.7%	$781.0M-24.6%	$689.0M-19.3%	$935.0M-21.6%	$1.0B+10.0%	$1.1B-20.2%	$854.0M	$1.2B+22.8%
EPS (Basic)	$4.13+100.5%	$1.72-24.6%	$1.52-18.3%	$2.06-20.2%	$2.28+11.8%	$2.42-19.1%	$1.86	$2.58+22.9%
EPS (Diluted)	$4.11+100.5%	$1.71-24.7%	$1.51-18.4%	$2.05-20.2%	$2.27+11.8%	$2.41-19.1%	$1.85	$2.57+22.4%
Diluted Shares (Avg)	457M+0.2%	456M-0.2%	455M-1.4%	456M-1.7%	457M-1.6%	N/A	462M	464M+0.2%

Not reported in any period shown, so not listed: R&D Expenses.

TGT Balance Sheet

TGT quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$59.5B+3.0%	$57.8B+4.4%	$55.4B+3.8%	$53.3B-0.9%	$53.8B+5.0%	$51.2B+19.8%	$42.8B+3.6%	$41.3B+2.4%	$40.3B+7.7%	$37.4B-7.0%	$40.3B-2.2%	$41.2B-7.6%	$44.6B-7.5%	$48.2B+3.3%	$46.6B
Current Assets	$20.0B+2.8%	$19.5B+11.2%	$17.5B-2.0%	$17.8B-17.3%	$21.6B+3.9%	$20.8B+60.9%	$12.9B+3.1%	$12.5B-0.2%	$12.5B+4.6%	$12.0B-15.1%	$14.1B+3.7%	$13.6B+17.7%	$11.6B-29.4%	$16.4B-0.4%	$16.4B
Cash & Equivalents	$5.5B+15.2%	$4.8B+25.2%	$3.8B+70.7%	$2.2B-62.3%	$5.9B-30.5%	$8.5B+230.3%	$2.6B+65.6%	$1.6B-41.1%	$2.6B+5.2%	$2.5B-37.9%	$4.0B+83.1%	$2.2B+229.9%	$670.0M-14.5%	$784.0M-1.3%	$794.0M
Short-Term Investments	$4.6B+18.4%	$3.9B+34.4%	$2.9B+115.7%	$1.3B-73.1%	$5.0B-34.8%	$7.6B+322.3%	$1.8B+135.4%	$769.0M-59.7%	$1.9B+71.7%	$1.1B-63.1%	$3.0B	$0	$0	$0	$0
Inventory	$12.3B-3.4%	$12.7B+7.2%	$11.9B-11.9%	$13.5B-2.9%	$13.9B+30.5%	$10.7B+18.5%	$9.0B-5.3%	$9.5B+10.5%	$8.6B+3.5%	$8.3B-3.4%	$8.6B+3.9%	$8.3B0.0%	$8.3B+4.7%	$7.9B-0.2%	$7.9B
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$631.0M0.0%	$631.0M0.0%	$631.0M0.0%	$631.0M0.0%	$631.0M0.0%	$631.0M-0.3%	$633.0M0.0%	$633.0M+0.5%	$630.0M+373.7%	$133.0M0.0%	$133.0M-9.5%	$147.0M-2.6%	$151.0M+155.9%	$59.0M0.0%	$59.0M
Total Liabilities	$43.3B+0.5%	$43.1B+2.8%	$41.9B-0.4%	$42.1B+2.7%	$41.0B+11.3%	$36.8B+18.9%	$30.9B+3.2%	$30.0B+4.7%	$28.7B+8.1%	$26.5B-2.9%	$27.3B+0.4%	$27.2B-4.0%	$28.3B-10.4%	$31.6B+2.6%	$30.8B
Current Liabilities	$21.2B+2.1%	$20.8B+7.7%	$19.3B-1.0%	$19.5B-10.3%	$21.7B+8.1%	$20.1B+38.9%	$14.5B-3.5%	$15.0B+15.0%	$13.1B+2.7%	$12.7B+0.7%	$12.6B+7.5%	$11.7B-8.1%	$12.8B-8.9%	$14.0B-1.8%	$14.3B
Non-Current Liabilities	$22.1B-0.9%	$22.3B-1.4%	$22.6B+0.1%	$22.6B+17.5%	$19.2B+15.3%	$16.7B+1.4%	$16.5B+9.9%	$15.0B-4.0%	$15.6B+13.3%	$13.8B-6.2%	$14.7B-4.9%	$15.4B-0.7%	$15.5B-11.5%	$17.6B+6.4%	$16.5B
Long-Term Debt	$14.3B+0.2%	$14.3B-4.1%	$14.9B-6.8%	$16.0B+18.2%	$13.5B+17.4%	$11.5B+1.7%	$11.3B+10.9%	$10.2B-8.0%	$11.1B+0.8%	$11.0B-7.7%	$11.9B-5.5%	$12.6B+10.5%	$11.4B-22.0%	$14.7B+7.0%	$13.7B
Total Equity	$16.2B+10.2%	$14.7B+9.2%	$13.4B+19.6%	$11.2B-12.4%	$12.8B-11.2%	$14.4B+22.0%	$11.8B+4.7%	$11.3B-3.0%	$11.7B+6.7%	$10.9B-15.8%	$13.0B-7.4%	$14.0B-13.8%	$16.2B-2.0%	$16.6B+4.7%	$15.8B
Retained Earnings	$9.3B+14.9%	$8.1B+14.1%	$7.1B+41.7%	$5.0B-27.7%	$6.9B-21.6%	$8.8B+37.2%	$6.4B+6.9%	$6.0B-7.4%	$6.5B+10.4%	$5.9B-28.1%	$8.2B-15.1%	$9.6B-23.5%	$12.6B-4.2%	$13.2B+1.5%	$13.0B

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q
Total Assets	$61.2B+5.8%	$58.0B+3.2%	$60.0B+2.5%	$57.9B+3.3%	$56.2B+1.9%	$57.8B+4.4%	$58.5B	$56.0B-0.4%
Current Assets	$20.9B+10.0%	$18.1B+1.7%	$20.7B+0.7%	$19.0B+6.2%	$17.8B+4.0%	$19.5B+11.2%	$20.6B	$17.9B-3.7%
Cash & Equivalents	$5.4B+24.6%	$3.5B+22.4%	$3.8B+11.3%	$4.3B+24.1%	$2.9B-19.9%	$4.8B+25.2%	$3.4B	$3.5B+83.1%
Short-Term Investments	$0	$0	$0	$0	$0	$3.9B+34.4%	$0	$0
Inventory	$13.2B+2.9%	$12.3B-5.6%	$14.9B-1.8%	$12.9B+2.2%	$13.0B+11.2%	$12.7B+7.2%	$15.2B	$12.6B-14.4%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	$631.0M0.0%	N/A	N/A
Total Liabilities	$43.4B+2.3%	$41.6B+0.9%	$44.5B+1.0%	$42.4B+2.1%	$41.2B-0.1%	$43.1B+2.8%	$44.0B	$41.6B-4.9%
Current Liabilities	$21.2B+10.2%	$19.4B+2.1%	$21.2B-2.5%	$19.2B-3.8%	$19.0B-4.4%	$20.8B+7.7%	$21.8B	$20.0B-7.1%
Non-Current Liabilities	$22.2B-4.3%	$22.2B-0.1%	$23.2B+4.5%	$23.2B+7.5%	$22.2B+3.9%	$22.3B-1.4%	$22.3B	$21.6B-2.8%
Long-Term Debt	$14.2B-7.2%	$14.3B-0.4%	$15.4B+7.1%	$15.3B+12.2%	$14.3B+6.3%	$14.3B-4.1%	$14.3B	$13.7B-8.3%
Total Equity	$17.8B+15.7%	$16.4B+9.7%	$15.5B+7.0%	$15.4B+6.9%	$14.9B+8.0%	$14.7B+9.2%	$14.5B	$14.4B+15.3%
Retained Earnings	$10.9B+24.2%	$9.6B+14.3%	$8.8B+9.6%	$8.8B+9.2%	$8.4B+11.2%	$8.1B+14.1%	$8.0B	$8.0B+29.0%

Not reported in any period shown, so not listed: Accounts Receivable.

TGT Cash Flow Statement

TGT quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$6.6B-10.9%	$7.4B-14.5%	$8.6B+114.6%	$4.0B-53.4%	$8.6B-18.1%	$10.5B+47.9%	$7.1B+19.2%	$6.0B-13.9%	$6.9B+27.4%	$5.4B-8.6%	$6.0B+33.4%	$4.5B-31.5%	$6.5B+22.4%	$5.3B-2.0%	$5.4B
Depreciation & Amortization	$3.1B+5.1%	$3.0B+6.4%	$2.8B+3.7%	$2.7B+2.2%	$2.6B+6.3%	$2.5B-4.6%	$2.6B+5.3%	$2.5B-0.1%	$2.5B+6.8%	$2.3B+4.7%	$2.2B+3.9%	$2.1B+6.7%	$2.0B-2.3%	$2.0B-4.1%	$2.1B
Stock-Based Compensation	$281.0M-7.6%	$304.0M+21.1%	$251.0M+14.1%	$220.0M-3.5%	$228.0M+14.0%	$200.0M+36.1%	$147.0M+11.4%	$132.0M+17.9%	$112.0M-0.9%	$113.0M-1.7%	$115.0M+62.0%	$71.0M-33.0%	$106.0M+3.9%	$102.0M+13.3%	$90.0M
Capital Expenditures	$3.7B+28.9%	$2.9B-39.8%	$4.8B-13.1%	$5.5B+56.0%	$3.5B+33.8%	$2.6B-12.5%	$3.0B-13.9%	$3.5B+38.8%	$2.5B+63.7%	$1.5B+7.6%	$1.4B-19.5%	$1.8B-5.3%	$1.9B-19.6%	$2.3B-46.3%	$4.4B
Free Cash Flow	$2.8B-36.7%	$4.5B+17.3%	$3.8B+352.6%	-$1.5B-129.7%	$5.1B-35.5%	$7.9B+92.6%	$4.1B+66.5%	$2.5B-44.2%	$4.4B+13.0%	$3.9B-13.8%	$4.5B+68.7%	$2.7B-42.2%	$4.6B+55.6%	$3.0B+179.5%	$1.1B
Investing Cash Flow	-$3.6B-27.6%	-$2.9B+39.9%	-$4.8B+13.5%	-$5.5B-74.5%	-$3.2B-21.7%	-$2.6B+12.0%	-$2.9B+13.8%	-$3.4B-11.1%	-$3.1B-108.8%	-$1.5B-390.0%	$508.0M+126.4%	-$1.9B-610.7%	-$271.0M+90.5%	-$2.9B	N/A
Financing Cash Flow	-$2.2B+38.4%	-$3.5B-55.4%	-$2.3B-4.1%	-$2.2B+72.8%	-$8.1B-303.6%	-$2.0B+36.5%	-$3.2B+13.5%	-$3.6B+2.3%	-$3.7B+32.3%	-$5.5B-18.9%	-$4.6B-352.1%	-$1.0B+83.9%	-$6.4B-155.8%	-$2.5B	N/A
Dividends Paid	$2.1B+0.3%	$2.0B+1.7%	$2.0B+9.5%	$1.8B+18.6%	$1.5B+15.3%	$1.3B+1.0%	$1.3B-0.4%	$1.3B-0.2%	$1.3B-0.7%	$1.3B-1.0%	$1.4B+13.0%	$1.2B+19.8%	$1.0B+15.8%	$869.0M+15.9%	$750.0M
Share Buybacks	$408.0M-59.5%	$1.0B	$0-100.0%	$2.6B-63.2%	$7.2B+864.8%	$745.0M-52.4%	$1.6B-26.3%	$2.1B+103.1%	$1.0B-71.8%	$3.7B+6.4%	$3.5B+13296.2%	$26.0M-98.2%	$1.5B-22.1%	$1.9B+1.8%	$1.8B

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q
Operating Cash Flow	$3.8B+82.6%	$716.0M+160.4%	$1.1B+52.5%	$2.1B-6.9%	$275.0M-75.0%	$3.3B0.0%	$739.0M	$2.2B+15.7%
Depreciation & Amortization	$651.0M+3.0%	$813.0M+3.3%	$649.0M+1.6%	$632.0M+1.0%	$787.0M+9.6%	$766.0M+5.1%	$639.0M	$626.0M+1.6%
Stock-Based Compensation	N/A	$54.0M-21.7%	N/A	N/A	$69.0M-4.2%	N/A	N/A	N/A
Capital Expenditures	$1.4B+27.5%	$1.0B+31.0%	$978.0M+49.3%	$1.1B+68.1%	$790.0M+17.2%	$923.0M+8.1%	$655.0M	$639.0M-43.3%
Free Cash Flow	$2.4B+141.2%	-$319.0M+38.1%	$149.0M+77.4%	$1.0B-36.9%	-$515.0M-220.6%	$2.4B-2.8%	$84.0M	$1.6B+98.1%
Investing Cash Flow	-$1.4B-28.0%	-$1.0B-31.3%	-$937.0M-47.1%	-$1.1B-68.1%	-$787.0M-17.3%	-$918.0M-8.0%	-$637.0M	-$634.0M+41.8%
Financing Cash Flow	-$562.0M-228.6%	-$1.6B-20.1%	-$709.0M-327.1%	$437.0M+125.5%	-$1.4B-116.0%	-$1.0B-91.5%	-$166.0M	-$1.7B-210.0%
Dividends Paid	$518.0M+1.8%	$516.0M+1.2%	$518.0M+0.4%	$509.0M0.0%	$510.0M+0.4%	$513.0M+1.0%	$516.0M	$509.0M+0.4%
Share Buybacks	$3.0M-62.5%	$0-100.0%	$150.0M-57.3%	$8.0M-94.8%	$250.0M	$501.0M	$351.0M	$155.0M

TGT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TGT quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	27.9%-0.3pp	28.2%+0.7pp	27.5%+3.0pp	24.6%-4.7pp	29.3%0.0pp	29.3%-0.5pp	29.8%+0.5pp	29.3%+0.7pp	28.5%-0.4pp	29.0%-0.2pp	29.2%-0.2pp	29.4%-0.4pp	29.8%-1.2pp	31.0%-0.5pp	31.5%
Operating Margin	4.9%-0.3pp	5.2%-0.1pp	5.3%+1.8pp	3.5%-4.9pp	8.4%+1.4pp	7.0%+1.0pp	6.0%+0.5pp	5.5%-0.4pp	5.8%-1.1pp	6.9%	N/A	N/A	N/A	7.1%-0.4pp	7.5%
Net Margin	3.5%-0.3pp	3.8%0.0pp	3.9%+1.3pp	2.5%-4.0pp	6.6%+1.9pp	4.7%+0.5pp	4.2%+0.3pp	3.9%-0.1pp	4.0%+0.1pp	3.9%-0.7pp	4.6%+6.8pp	-2.3%-5.0pp	2.8%-1.3pp	4.1%-0.1pp	4.2%
Return on Equity	22.9%-5.0pp	27.9%-2.9pp	30.8%+6.1pp	24.8%-29.4pp	54.1%+23.9pp	30.3%+2.5pp	27.7%+1.7pp	26.0%+1.0pp	25.0%0.0pp	25.1%-0.9pp	25.9%+37.6pp	-11.7%-23.8pp	12.1%-6.0pp	18.1%-0.4pp	18.5%
Return on Assets	6.2%-0.9pp	7.1%-0.4pp	7.5%+2.3pp	5.2%-7.7pp	12.9%+4.4pp	8.5%+0.8pp	7.7%+0.6pp	7.1%-0.1pp	7.2%-0.1pp	7.3%-1.1pp	8.3%+12.3pp	-4.0%-8.4pp	4.4%-1.8pp	6.2%0.0pp	6.3%
Current Ratio	0.940.0x	0.940.0x	0.910.0x	0.92-0.1x	0.990.0x	1.03+0.1x	0.89+0.1x	0.83-0.1x	0.960.0x	0.94-0.2x	1.120.0x	1.16+0.3x	0.91-0.3x	1.170.0x	1.15
Debt-to-Equity	0.89-0.1x	0.98-0.1x	1.11-0.3x	1.43+0.4x	1.06+0.3x	0.80-0.2x	0.96+0.1x	0.900.0x	0.95-0.1x	1.01+0.1x	0.920.0x	0.90+0.2x	0.70-0.2x	0.890.0x	0.87
Asset Turnover	1.76-0.1x	1.84-0.1x	1.94-0.1x	2.05+0.1x	1.97+0.1x	1.830.0x	1.830.0x	1.820.0x	1.80-0.1x	1.880.0x	1.83+0.1x	1.76+0.2x	1.60+0.1x	1.520.0x	1.50
FCF Margin	2.7%-1.5pp	4.2%+0.7pp	3.5%+4.9pp	-1.4%-6.2pp	4.8%-3.6pp	8.4%+3.2pp	5.2%+2.0pp	3.3%-2.8pp	6.0%+0.5pp	5.5%-0.6pp	6.1%+2.4pp	3.7%-2.8pp	6.5%+2.4pp	4.1%+2.5pp	1.5%

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q
Gross Margin	33.7%+4.7pp	29.0%+0.8pp	28.2%-0.1pp	29.0%-1.0pp	28.2%-0.6pp	26.8%+1.4pp	28.3%	30.0%+1.4pp
Operating Margin	9.7%+4.4pp	4.5%-1.7pp	3.8%-0.8pp	5.2%-1.2pp	6.2%+0.9pp	4.1%-1.7pp	4.5%	6.4%+1.2pp
Net Margin	7.1%+3.4pp	3.1%-1.3pp	2.7%-0.6pp	3.7%-1.0pp	4.3%+0.5pp	3.5%-0.7pp	3.3%	4.7%+0.9pp
Return on Equity	10.5%+4.5pp	4.8%-2.2pp	4.4%-1.4pp	6.1%-2.2pp	6.9%+0.1pp	7.5%-2.8pp	5.9%	8.3%+0.5pp
Return on Assets	3.1%+1.5pp	1.4%-0.5pp	1.1%-0.3pp	1.6%-0.5pp	1.8%+0.1pp	1.9%-0.6pp	1.5%	2.1%+0.4pp
Current Ratio	0.990.0x	0.930.0x	0.970.0x	0.99+0.1x	0.94+0.1x	0.940.0x	0.94	0.900.0x
Debt-to-Equity	0.80-0.2x	0.87-0.1x	0.990.0x	0.990.0x	0.960.0x	0.98-0.1x	0.99	0.95-0.2x
Asset Turnover	0.430.0x	0.440.0x	0.420.0x	0.440.0x	0.420.0x	0.550.0x	0.44	0.450.0x
FCF Margin	9.2%+5.2pp	-1.3%+0.9pp	0.6%+0.3pp	4.0%-2.3pp	-2.2%-3.9pp	7.5%+0.1pp	0.3%	6.3%+3.1pp

Note: The current ratio is below 1.0 (0.94), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Target Corporation TGT	FY2025	$104.8B	$3.7B	3.5%	$70.9B	43/100
Dollar General Corp. DG	FY2025	$42.7B	$1.5B	3.5%	$26.2B	47/100
Dollar Tree Inc. DLTR	FY2025	$19.4B	$1.3B	6.6%	$21.5B	55/100
BJs Wholesale Club Holdings, Inc. BJ	FY2025	$21.5B	$578.0M	2.7%	$11.9B	50/100
Walmart Inc. WMT	FY2026	$713.2B	$21.9B	3.1%	$827.2B	50/100
Ollie's Bargain Outlet Holdings, Inc. OLLI	FY2025	$2.6B	$240.6M	9.1%	$5.2B	73/100

Where Target Corporation Ranks

Frequently Asked Questions

What is Target Corporation's annual revenue?

Target Corporation (TGT) reported $104.8B in total revenue for fiscal year 2025. This represents a -1.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Target Corporation's revenue growing?

Target Corporation (TGT) revenue declined by 1.7% year-over-year, from $106.6B to $104.8B in fiscal year 2025.

Is Target Corporation profitable?

Yes, Target Corporation (TGT) reported a net income of $3.7B in fiscal year 2025, with a net profit margin of 3.5%.

What is Target Corporation's EBITDA?

Target Corporation (TGT) had EBITDA of $8.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Target Corporation have?

As of fiscal year 2025, Target Corporation (TGT) had $5.5B in cash and equivalents against $14.3B in long-term debt.

What is Target Corporation's gross margin?

Target Corporation (TGT) had a gross margin of 27.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Target Corporation's operating margin?

Target Corporation (TGT) had an operating margin of 4.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Target Corporation's net profit margin?

Target Corporation (TGT) had a net profit margin of 3.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Target Corporation pay dividends?

Yes, Target Corporation (TGT) paid $4.54 per share in dividends during fiscal year 2025.

What is Target Corporation's return on equity (ROE)?

Target Corporation (TGT) has a return on equity of 22.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Target Corporation's free cash flow?

Target Corporation (TGT) generated $2.8B in free cash flow during fiscal year 2025. This represents a -36.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Target Corporation's operating cash flow?

Target Corporation (TGT) generated $6.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Target Corporation's total assets?

Target Corporation (TGT) had $59.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Target Corporation's capital expenditures?

Target Corporation (TGT) invested $3.7B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Target Corporation buy back shares?

Yes, Target Corporation (TGT) spent $408.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Target Corporation have outstanding?

Target Corporation (TGT) had 453M shares outstanding as of fiscal year 2025.

What is Target Corporation's current ratio?

Target Corporation (TGT) had a current ratio of 0.94 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Target Corporation's debt-to-equity ratio?

Target Corporation (TGT) had a debt-to-equity ratio of 0.89 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Target Corporation's return on assets (ROA)?

Target Corporation (TGT) had a return on assets of 6.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Target Corporation's P/E ratio?

Target Corporation (TGT) trades at 19.1x earnings, its market capitalization divided by net income of $3.7B net income, FY2025. The market capitalization is $70.9B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Target Corporation's price-to-sales ratio?

Target Corporation (TGT) trades at 0.7x sales, its market capitalization divided by revenue of $104.8B revenue, FY2025. The market capitalization is $70.9B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Target Corporation's Altman Z-Score?

Target Corporation (TGT) has an Altman Z-Score of 3.22, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Target Corporation's Piotroski F-Score?

Target Corporation (TGT) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Target Corporation's earnings high quality?

Target Corporation (TGT) has an earnings quality ratio of 1.77x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Target Corporation cover its interest payments?

Target Corporation (TGT) has an interest coverage ratio of 11.50x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Target Corporation?

Target Corporation (TGT) scores 43 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.