Target Corporation

Consumer Staples Consumer Staples Merchandise Retail Minneapolis, Minnesota Last filing Mar 11, 2026 · FY2026

                    Revenue
                    FY2026
                
$104.8B
                    3y CAGR -0.8%
                    
                    P50
                    
                    -1.7%
                    
                    Net income
                    FY2026
                
$3.7B
                    Net margin +3.5%
                    
                    P50
                    
                    -9.4%
                    
                    Total assets
                    FY2026
                
$59.5B
                    ROA +6.2%
                    
                    P60
                    
                    +3.0%
                    
                    Operating cash flow
                    FY2026
                
$6.6B
                    FCF margin +2.7%
                    
                    P38
                    
                    -10.9%

20 yrs · FY2007–FY2026 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

29 accounts · 5 years

Total assets $59.5B

Total liabilities $22.1B

Shareholders equity $16.2B

Account	2026	2025	2024	2023	2022
Assets
Cash and Cash Equivalents	$5.5B 15.2%	$4.8B 25.2%	$3.8B 0.0%	$3.8B 70.7%	$2.2B
Short Term Investments	$5.5B 41.0%	$3.9B 34.4%	$2.9B 0.0%	$2.9B 115.7%	$1.3B
Inventory	$12.3B -3.4%	$12.7B 7.2%	$11.9B	—	—
Prepaid Expenses	$2.2B 879.2%	$226.0M 12.4%	$201.0M	—	—
Other Current Assets	$2.2B 13.4%	$2.0B 8.0%	$1.8B	—	—
Total Current Assets	$20.0B 2.8%	$19.5B 11.2%	$17.5B 0.0%	$17.5B -2.0%	$17.8B
Property,Plant and Equipment	$33.7B 2.2%	$33.0B -0.2%	$33.1B	—	—
Operating Lease Assets	$3.7B -1.6%	$3.8B 11.9%	$3.4B	—	—
Goodwill	$0 -100.0%	$631.0M 0.0%	$631.0M 0.0%	$631.0M 0.0%	$631.0M
Intangible Assets	$0	$0	$0	—	—
Deferred Tax Assets	$2.3B -14.5%	$2.6B 5.7%	$2.5B	—	—
Other Noncurrent Assets	$2.0B 32.9%	$1.5B 9.3%	$1.4B 0.0%	$1.4B 6.1%	$1.3B
Total Assets	$59.5B 3.0%	$57.8B 4.4%	$55.4B 0.0%	$55.4B 3.8%	$53.3B
Liabilities
Accounts Payable	$12.6B -3.3%	$13.1B 7.9%	$12.1B 0.0%	$12.1B -10.3%	$13.5B
Accrued Liabilities	$6.5B 6.0%	$6.1B 0.3%	$6.1B 0.0%	$6.1B 3.5%	$5.9B
Other Current Liabilities	$2.0B -3.5%	$2.1B 9.1%	$1.9B	—	—
Total Current Liabilities	$21.2B 2.1%	$20.8B 7.7%	$19.3B 0.0%	$19.3B -1.0%	$19.5B
Operating Lease Liabilities Noncurrent	$3.5B -3.4%	$3.6B 9.2%	$3.3B	—	—
Deferred Tax Liabilities	$2.3B -1.7%	$2.3B -7.1%	$2.5B	—	—
Other Noncurrent Liabilities	$2.0B -3.5%	$2.1B 9.1%	$1.9B 0.0%	$1.9B 10.2%	$1.8B
Total Liabilities	$22.1B -0.9%	$22.3B -1.4%	$22.6B 0.0%	$22.6B 0.1%	$22.6B
Equity
Preferred Stock	$5.0M 0.0%	$5.0M 0.0%	$5.0M 0.0%	$5.0M 0.0%	$5.0M
Common Stock	$38.0M 0.0%	$38.0M 0.0%	$38.0M 0.0%	$38.0M 0.0%	$38.0M
Additional Paid In Capital	$7.2B 3.6%	$7.0B 3.5%	$6.8B 0.0%	$6.8B 2.3%	$6.6B
Retained Earnings	$9.3B 14.9%	$8.1B 14.1%	$7.1B	—	—
Treasury Stock	$403.0M -60.3%	$1.0B	$0	$0 -100.0%	$2.6B
Accumulated Other Comprehensive Income	$-417.0M 9.0%	$-458.0M 0.4%	$-460.0M	—	—
Total Stockholders Equity	$16.2B 10.2%	$14.7B 9.2%	$13.4B	—	—
Total Liabilitiesand Equity	$59.5B 3.0%	$57.8B 4.4%	$55.4B	—	—

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $104.8B

Operating income $5.1B

Net income $3.7B

Account	2026	2025	2024	2023	2022
IncomeStatement
Revenues Total Revenue	$104.8B -1.7%	$106.6B -0.8%	$107.4B	—	—
Expenses Cost of Revenue	$75.5B -1.3%	$76.5B -1.7%	$77.8B	—	—
Expenses Selling,General and Administrative	$21.5B -2.0%	$22.0B 2.4%	$21.5B	—	—
Expenses Depreciation and Amortization	$3.1B 5.1%	$3.0B 6.4%	$2.8B	—	—
Expenses Share Based Compensation	$281.0M -7.6%	$304.0M 21.1%	$251.0M	—	—
Other Income Expense Operating Income	$5.1B -8.1%	$5.6B -2.5%	$5.7B	—	—
Other Income Expense Interest Expense	$79.0M 2.6%	$77.0M -84.7%	$502.0M	—	—
Other Income Expense Other Income/expense	$95.0M -10.4%	$106.0M 15.2%	$92.0M	—	—
Other Income Expense Income Before Tax	$4.8B -9.4%	$5.3B -0.7%	$5.3B	—	—
Income Tax Income Tax Expense	$1.1B -9.2%	$1.2B 0.9%	$1.2B	—	—
net Income net Income	$3.7B -9.4%	$4.1B -1.1%	$4.1B	—	—
net Income Comprehensive Income	$3.7B -8.5%	$4.1B -0.1%	$4.1B	—	—
Earnings Per Share Basic Eps	$8 -8.2%	$9 -0.8%	$9	—	—
Earnings Per Share Diluted Eps	$8 -8.2%	$9 -0.9%	$9	—	—
Earnings Per Share Weighted Average Shares Basic	$454.1M -1.4%	$460.4M -0.2%	$461.5M	—	—
Earnings Per Share Weighted Average Shares Diluted	$455.6M -1.3%	$461.8M -0.2%	$462.8M	—	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $6.6B

Investing cash flow $-3.6B

Financing cash flow $-2.2B

Account	2026	2025	2024	2023	2022
CashFlow
Operating Activities net Income	$3.7B -9.4%	$4.1B -1.1%	$4.1B 0.0%	$4.1B 48.8%	$2.8B
Operating Activities Depreciation and Amortization	$3.1B 5.1%	$3.0B 6.4%	$2.8B 0.0%	$2.8B 3.7%	$2.7B
Operating Activities Stock Based Compensation	$281.0M -7.6%	$304.0M 21.1%	$251.0M	—	—
Operating Activities Deferred Income Taxes	$-55.0M 69.4%	$-180.0M -160.4%	$298.0M	—	—
Operating Activities Changes In Operating Assets and Liabilities	$-937.0M -150.3%	$1.9B 165.8%	$-2.8B -40.3%	$-2.0B 38.6%	$-3.3B
Operating Activities net Cash From Operating Activities	$6.6B -10.9%	$7.4B -14.5%	$8.6B 0.0%	$8.6B 114.6%	$4.0B
Investing Activities Capital Expenditures	$3.7B 28.9%	$2.9B -39.8%	$4.8B 0.0%	$4.8B -13.1%	$5.5B
Investing Activities Other Investing Activities	$-78.0M -151.6%	$-31.0M 32.6%	$-46.0M	—	—
Investing Activities net Cash From Investing Activities	$-3.6B -27.6%	$-2.9B 39.9%	$-4.8B 0.0%	$-4.8B 13.5%	$-5.5B
Financing Activities Proceeds From Debt	$2.0B 167.7%	$741.0M	$0	—	—
Financing Activities Repayment of Debt	$1.6B 44.2%	$1.1B 674.8%	$147.0M 0.0%	$147.0M -9.8%	$163.0M
Financing Activities Repurchase of Common Stock	$408.0M -59.5%	$1.0B	$0	$0 -100.0%	$2.6B
Financing Activities Dividends Paid	$2.1B 0.3%	$2.0B 1.7%	$2.0B 0.0%	$2.0B 9.5%	$1.8B
Financing Activities Tax Withholding On Stock Based Compensation	$67.0M -32.3%	$99.0M -22.0%	$127.0M	—	—
Financing Activities net Cash From Financing Activities	$-2.2B 38.4%	$-3.5B -55.4%	$-2.3B 0.0%	$-2.3B -4.1%	$-2.2B
Cash Reconciliation Effect of Exchange Rate On Cash	$5.5B 15.2%	$4.8B 25.2%	$3.8B	—	—
Cash Reconciliation net Change In Cash	$726.0M -24.1%	$957.0M -39.3%	$1.6B 0.0%	$1.6B 142.8%	$-3.7B
Cash Reconciliation Cash At Beginning of Period	$5.5B 15.2%	$4.8B 25.2%	$3.8B	—	—
Cash Reconciliation Cash At End of Period	$5.5B 15.2%	$4.8B 25.2%	$3.8B	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2026	2025	2024	2023	2022
Profitability
Gross margin	+27.9%	+28.2%	+27.5%	+27.6%	+24.6%
Operating margin	+4.9%	+5.2%	+5.3%	—	—
Net margin	+3.5%	+3.8%	+3.9%	+3.9%	+2.5%
FCF margin	+2.7%	+4.2%	+3.6%	+3.6%	-1.4%
Growth
Revenue CAGR (3y)	-0.8%	-0.8%	+0.4%	+4.7%	+11.8%
Returns
ROE	+22.9%	+27.9%	+30.8%	+30.8%	+24.8%
ROA	+6.2%	+7.1%	+7.5%	+7.5%	+5.2%
ROIC	—	+11.5%	+11.8%	—	—
Liquidity
Current ratio	0.94x	0.94x	0.91x	0.91x	0.92x
Quick ratio	—	0.28x	0.24x	—	—
Leverage
D/E	1.37x	1.52x	1.68x	1.68x	2.01x
Interest coverage	64.77x	72.29x	11.37x	—	—
Efficiency
Asset turnover	1.76x	1.84x	1.94x	1.94x	2.05x
Cash conversion cycle	—	+2d	+2d	—	—

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Target Corporation

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