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

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

29 accounts · 10 years

Total assets $59.5B

Total liabilities $22.1B

Shareholders equity $16.2B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
Assets
Cash and Cash Equivalents	9.2%	8.2%	6.9%	6.9%	4.2%	11.0%	16.6%	6.0%	3.8%	6.6%
Short Term Investments	9.2%	6.7%	5.2%	5.2%	2.5%	9.3%	14.9%	4.2%	1.9%	4.7%
Inventory	20.7%	22.1%	21.5%	—	—	—	—	—	—	—
Prepaid Expenses	3.7%	0.4%	0.4%	—	—	—	—	—	—	—
Other Current Assets	3.7%	3.4%	3.3%	—	—	—	—	—	—	—
Total Current Assets	33.6%	33.7%	31.6%	31.6%	33.5%	40.1%	40.5%	30.2%	30.3%	31.1%
Property,Plant and Equipment	56.7%	57.2%	59.8%	—	—	—	—	—	—	—
Operating Lease Assets	6.2%	6.5%	6.1%	—	—	—	—	—	—	—
Goodwill	0.0%	1.1%	1.1%	1.1%	1.2%	1.2%	1.2%	1.5%	1.5%	1.6%
Intangible Assets	0.0%	0.0%	0.0%	—	—	—	—	—	—	—
Deferred Tax Assets	3.8%	4.6%	4.5%	—	—	—	—	—	—	—
Other Noncurrent Assets	3.4%	2.6%	2.5%	2.5%	2.5%	2.8%	2.7%	3.2%	3.1%	3.3%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	21.2%	22.6%	21.9%	21.9%	25.3%	28.8%	25.1%	23.2%	23.6%	21.5%
Accrued Liabilities	10.9%	10.6%	11.0%	11.0%	11.0%	11.3%	11.9%	10.3%	10.2%	10.2%
Other Current Liabilities	3.4%	3.7%	3.5%	—	—	—	—	—	—	—
Total Current Liabilities	35.7%	36.0%	34.9%	34.9%	36.6%	40.4%	39.3%	33.9%	36.4%	32.4%
Operating Lease Liabilities Noncurrent	5.8%	6.2%	5.9%	—	—	—	—	—	—	—
Deferred Tax Liabilities	3.8%	4.0%	4.5%	—	—	—	—	—	—	—
Other Noncurrent Liabilities	3.4%	3.7%	3.5%	3.5%	3.3%	3.0%	3.8%	4.0%	4.3%	4.6%
Total Liabilities	37.1%	38.6%	40.9%	40.9%	42.4%	35.7%	32.6%	38.5%	36.3%	38.7%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%
Additional Paid In Capital	12.2%	12.1%	12.2%	12.2%	12.4%	11.9%	12.3%	14.6%	14.6%	14.5%
Retained Earnings	15.6%	14.0%	12.8%	—	—	—	—	—	—	—
Treasury Stock	0.7%	1.8%	0.0%	0.0%	5.0%	13.4%	1.2%	3.6%	5.0%	2.5%
Accumulated Other Comprehensive Income	-0.7%	-0.8%	-0.8%	—	—	—	—	—	—	—
Total Stockholders Equity	27.2%	25.4%	24.3%	—	—	—	—	—	—	—
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	—	—	—	—	—	—	—

Income Statement

Revenue, expense, and profitability

16 accounts · 10 years

Revenue $104.8B

Operating income $5.1B

Net income $3.7B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
IncomeStatement
Revenues Total Revenue	176.1%	184.5%	194.0%	—	—	—	—	—	—	—
Expenses Cost of Revenue	126.9%	132.4%	140.6%	—	—	—	—	—	—	—
Expenses Selling,General and Administrative	36.2%	38.0%	38.8%	—	—	—	—	—	—	—
Expenses Depreciation and Amortization	5.3%	5.2%	5.1%	—	—	—	—	—	—	—
Expenses Share Based Compensation	0.5%	0.5%	0.5%	—	—	—	—	—	—	—
Other Income Expense Operating Income	8.6%	9.6%	10.3%	—	—	—	—	—	—	—
Other Income Expense Interest Expense	0.1%	0.1%	0.9%	—	—	—	—	—	—	—
Other Income Expense Other Income/expense	0.2%	0.2%	0.2%	—	—	—	—	—	—	—
Other Income Expense Income Before Tax	8.0%	9.1%	9.6%	—	—	—	—	—	—	—
Income Tax Income Tax Expense	1.8%	2.0%	2.1%	—	—	—	—	—	—	—
net Income net Income	6.2%	7.1%	7.5%	—	—	—	—	—	—	—
net Income Comprehensive Income	6.3%	7.1%	7.4%	—	—	—	—	—	—	—
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	—	—	—	—	—	—	—
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	—	—	—	—	—	—	—
Earnings Per Share Weighted Average Shares Basic	0.8%	0.8%	0.8%	—	—	—	—	—	—	—
Earnings Per Share Weighted Average Shares Diluted	0.8%	0.8%	0.8%	—	—	—	—	—	—	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 10 years

Operating cash flow $6.6B

Investing cash flow $-3.6B

Financing cash flow $-2.2B

Account	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
CashFlow
Operating Activities net Income	6.2%	7.1%	7.5%	7.5%	5.2%	12.9%	8.5%	1.9%	1.9%	—
Operating Activities Depreciation and Amortization	5.3%	5.2%	5.1%	5.1%	5.1%	4.9%	4.8%	6.1%	6.0%	6.1%
Operating Activities Stock Based Compensation	0.5%	0.5%	0.5%	—	—	—	—	—	—	—
Operating Activities Deferred Income Taxes	-0.1%	-0.3%	0.5%	—	—	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	-1.6%	3.2%	-5.1%	-3.6%	-6.2%	0.1%	0.3%	-0.0%	0.7%	0.4%
Operating Activities net Cash From Operating Activities	11.0%	12.8%	15.6%	15.6%	7.5%	16.0%	20.5%	16.6%	14.5%	17.2%
Investing Activities Capital Expenditures	6.3%	5.0%	8.7%	8.7%	10.4%	6.6%	5.2%	7.1%	8.5%	6.3%
Investing Activities Other Investing Activities	-0.1%	-0.1%	-0.1%	—	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	-6.1%	-5.0%	-8.6%	-8.6%	-10.3%	-5.9%	-5.1%	-6.9%	-8.3%	-7.6%
Financing Activities Proceeds From Debt	3.3%	1.3%	0.0%	—	—	—	—	—	—	—
Financing Activities Repayment of Debt	2.8%	2.0%	0.3%	0.3%	0.3%	2.1%	4.7%	4.8%	0.7%	5.4%
Financing Activities Repurchase of Common Stock	0.7%	1.7%	0.0%	0.0%	5.0%	13.4%	1.5%	3.7%	5.1%	2.6%
Financing Activities Dividends Paid	3.5%	3.5%	3.6%	3.6%	3.4%	2.9%	2.6%	3.1%	3.2%	3.3%
Financing Activities Tax Withholding On Stock Based Compensation	0.1%	0.2%	0.2%	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	-3.7%	-6.1%	-4.1%	-4.1%	-4.1%	-15.0%	-3.9%	-7.4%	-8.8%	-9.3%
Cash Reconciliation Effect of Exchange Rate On Cash	9.2%	8.2%	6.9%	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	1.2%	1.7%	2.8%	2.8%	-6.9%	-4.8%	11.6%	2.4%	-2.6%	0.3%
Cash Reconciliation Cash At Beginning of Period	9.2%	8.2%	6.9%	—	—	—	—	—	—	—
Cash Reconciliation Cash At End of Period	9.2%	8.2%	6.9%	—	—	—	—	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017
Profitability
Gross margin	+27.9%	+28.2%	+27.5%	+27.6%	+24.6%	+29.3%	+29.3%	+29.8%	+29.3%	+29.7%
Operating margin	+4.9%	+5.2%	+5.3%	—	—	—	—	—	—	—
Net margin	+3.5%	+3.8%	+3.9%	+3.9%	+2.5%	+6.6%	+4.7%	+1.1%	+1.1%	—
FCF margin	+2.7%	+4.2%	+3.6%	+3.6%	-1.4%	+4.8%	+8.4%	+5.2%	+3.3%	+6.1%
Growth
Revenue CAGR (3y)	-0.8%	-0.8%	+0.4%	+4.7%	+11.8%	+12.0%	+8.8%	+3.6%	—	+0.0%
Returns
ROE	+22.9%	+27.9%	+30.8%	+30.8%	+24.8%	+54.2%	+30.2%	+7.0%	+7.1%	—
ROA	+6.2%	+7.1%	+7.5%	+7.5%	+5.2%	+12.9%	+8.5%	+1.9%	+1.9%	—
ROIC	—	+11.5%	+11.8%	—	—	—	—	—	—	—
Liquidity
Current ratio	0.94x	0.94x	0.91x	0.91x	0.92x	0.99x	1.03x	0.89x	0.83x	0.96x
Quick ratio	—	0.28x	0.24x	—	—	—	—	—	—	—
Leverage
D/E	1.37x	1.52x	1.68x	1.68x	2.01x	1.50x	1.16x	1.39x	1.33x	1.34x
Interest coverage	64.77x	72.29x	11.37x	—	—	—	—	—	—	—
Efficiency
Asset turnover	1.76x	1.84x	1.94x	1.94x	2.05x	1.97x	1.83x	1.83x	1.83x	1.80x
Cash conversion cycle	—	+2d	+2d	—	—	—	—	—	—	—

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Target Corporation

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