TARGET CORP
TGT· NYSE· Retail-Variety Stores
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 2.7%
- ROIC, 5 yr avg
- 25.7%
- Revenue, 5 yr CAGR
- +2.3%
We record prices for the companies we cover; TGT is not one of them yet.
Company statistics
Profile · FY2026
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 455.6M
- Revenue
- $104.8B
- Free cash flow
- $2.8B
- Owner earnings
- $2.6B
Valuation · FY2026
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2026
- Gross
- –
- Operating
- 4.9%
- Net
- 3.5%
- Free cash flow
- 2.7%
- Owner earnings
- 2.4%
- Stock pay
- 0.3%
Returns
- ROIC, FY2026
- 19.4%
- ROIC, 5 yr avg
- 25.7%
- ROE, FY2026
- 22.9%
- ROE, 5 yr avg
- 32.1%
Growth (CAGR)
- Revenue, 3 yr
- -1.3%
- Revenue, 5 yr
- 2.3%
- Revenue, 9 yr
- 4.5%
- Diluted EPS, 3 yr
- 10.8%
- Diluted EPS, 5 yr
- -1.2%
- Diluted EPS, 9 yr
- 6.3%
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- -18.5%
- Free cash flow, 9 yr
- -3.5%
Financial health · FY2026
- Cash and investments
- $10.1B
- Total debt
- $14.4B
- Net debt
- $4.3B
- Debt/Equity
- 0.9x
- Debt/FCF
- 5.1x
Shareholder returns · FY2026
- Dividend yield
- –
- Payout ratio
- 55.4%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -2.1%
Financials: ten years from the 10-Ks
Revenue
$104.8B
+4.5% a year over 9 years
FY2017FY2026
Margins
Gross–Operating4.9%Net3.5%
FY2026
FY2017FY2026
Free cash flow and owner earnings
Free cash flow$2.8BOwner earnings$2.6B
Free cash flow -3.5% a year
FY2017FY2026
Diluted shares
455.6M
-21.8% over 9 years, net buybacks
FY2017FY2026
Return on invested capital
19.4%
FY2026
FY2017FY2026
Net debt (below zero)
-$4.3B
$4.3B more debt than cash
FY2017FY2026
Every figure, year by year
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $70.3B | $72.7B | $75.4B | $78.1B | $93.6B | $106.0B | $109.1B | $107.4B | $106.6B | $104.8B |
| Revenue growth | -4.8% | 3.5% | 3.6% | 3.7% | 19.8% | 13.3% | 2.9% | -1.6% | -0.8% | -1.7% |
| Gross margin | 29.0% | 28.5% | – | – | – | – | – | – | – | – |
| Operating margin | 6.9% | 5.8% | 5.5% | 6.0% | 7.0% | 8.4% | 3.5% | 5.3% | 5.2% | 4.9% |
| Net income | – | – | – | – | $4.4B | $6.9B | $2.8B | $4.1B | $4.1B | $3.7B |
| Net margin | – | – | – | – | 4.7% | 6.6% | 2.5% | 3.9% | 3.8% | 3.5% |
| Diluted EPS | $4.69 | $5.29 | $5.51 | $6.36 | $8.64 | $14.10 | $5.98 | $8.94 | $8.86 | $8.13 |
| Return on invested capital? | 17.2% | 19.3% | 17.0% | 20.8% | 57.7% | 51.7% | 14.4% | 21.4% | 21.7% | 19.4% |
| Cash | ||||||||||
| Operating cash flow | $5.4B | $6.9B | $6.0B | $7.1B | $10.5B | $8.6B | $4.0B | $8.6B | $7.4B | $6.6B |
| Capital expenditure | $1.5B | $2.5B | $3.5B | $3.0B | $2.6B | $3.5B | $5.5B | $4.8B | $2.9B | $3.7B |
| Free cash flow | $3.9B | $4.4B | $2.5B | $4.1B | $7.9B | $5.1B | -$1.5B | $3.8B | $4.5B | $2.8B |
| Stock-based compensation | $113.0M | $112.0M | $132.0M | $147.0M | $200.0M | $228.0M | $220.0M | $251.0M | $304.0M | $281.0M |
| Owner earnings? | $3.8B | $4.3B | $2.3B | $3.9B | $7.7B | $4.9B | -$1.7B | $3.6B | $4.2B | $2.6B |
| Free cash flow per share | $6.69 | $8.00 | $4.61 | $7.93 | $15.58 | $10.31 | $-3.25 | $8.24 | $9.69 | $6.22 |
| Capital allocation | ||||||||||
| Dividends paid | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.5B | $1.8B | $2.0B | $2.0B | $2.1B |
| Share repurchases | $3.7B | $1.0B | $2.1B | $1.6B | $745.0M | $7.2B | $2.6B | $0 | $1.0B | $408.0M |
| Diluted shares | 582.5M | 550.3M | 533.2M | 515.6M | 505.4M | 492.7M | 464.7M | 462.8M | 461.8M | 455.6M |
| Share count change? | -8.0% | -5.5% | -3.1% | -3.3% | -2.0% | -2.5% | -5.7% | -0.4% | -0.2% | -1.3% |
| Balance sheet | ||||||||||
| Cash and equivalents | $2.5B | $2.6B | $1.6B | $2.6B | $8.5B | $5.9B | $2.2B | $3.8B | $4.8B | $5.5B |
| Short-term investments | $1.1B | $1.9B | $769.0M | $1.8B | $7.6B | $5.0B | $1.3B | $2.9B | $3.9B | $4.6B |
| Total debt | $11.7B | $10.4B | $10.2B | $10.0B | $10.6B | $11.6B | $14.1B | $14.2B | $13.9B | $14.4B |
| Net debt | $8.1B | $5.9B | $7.9B | $5.6B | -$5.5B | $672.0M | $10.6B | $7.4B | $5.2B | $4.3B |
| Shareholders' equity | $10.9B | $11.7B | $11.3B | $11.8B | $14.4B | $12.8B | $11.2B | $13.4B | $14.7B | $16.2B |
Latest filings
| 2026-08-28 | 10-Q | Quarterly report |
| 2026-08-19 | 8-K | Earnings release |
| 2026-05-29 | 10-Q | Quarterly report |
| 2026-05-20 | 8-K | Earnings release |
| 2026-04-27 | DEF 14A | Proxy statement |
| 2026-03-11 | 10-K | Annual report |
| 2026-03-03 | 8-K | Earnings release |
| 2026-02-11 | 8-K | Earnings release |
| 2025-11-26 | 10-Q | Quarterly report |
| 2025-11-19 | 8-K | Earnings release |
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