TGT

MKT CAP:$58B

Target Corporation

Market Cap

$58B

Consumer Defensive·Discount Stores·🇺🇸 United States·NYSE

Consumer Def.·Discount Stores·🇺🇸·NYSE

Stock Price

$129.06+$28.55 (+28.41%)

Apr 24, 2026

Company Details

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, to...

CEO

Michael J. Fiddelke

IPO Date

Oct 18, 1967

Website

corporate.target.com

Key Metrics TTM

Revenue

$105.2B

-2.2% YoY

Net Income

$3.8B

EPS (Diluted)

$8.24

Free Cash Flow

$3.0B

Revenue / Share

$230.95

Gross Margin

27.7%

Operating Margin

4.9%

Net Margin

3.6%

FCF Margin

2.9%

P/S

0.6x

P/E

15.5x

Earnings Reports

FY 2025

Mar 11, 2026

$104.8B-1.7%EPS $8.13

Q3 2025

Nov 26, 2025

$25.3B-1.6%EPS $1.51

Q2 2025

Aug 29, 2025

$25.2B-0.9%EPS $2.05

Q1 2025

May 30, 2025

$23.8B-2.8%EPS $2.27

FY 2024

Mar 12, 2025

$106.6B-0.8%EPS $8.86

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$31.0B	$8.2B	$2.1B
Q1 22	$25.2B	$6.7B	$1.3B
Q2 22	$26.0B	$5.9B	$321M
Q3 22	$26.5B	$6.8B	$1.0B
Q4 22	$31.4B	$7.4B	$1.2B
Q1 23	$25.3B	$6.9B	$1.3B
Q2 23	$24.8B	$7.0B	$1.2B
Q3 23	$25.4B	$7.2B	$1.3B
Q4 23	$31.9B	$8.5B	$1.9B
Q1 24	$24.5B	$7.1B	$1.3B
Q2 24	$25.5B	$7.6B	$1.6B
Q3 24	$25.7B	$7.3B	$1.2B
Q4 24	$30.9B	$8.0B	$1.5B
Q1 25	$23.8B	$6.7B	$1.5B
Q2 25	$25.2B	$7.3B	$1.3B
Q3 25	$25.3B	$7.1B	$948M

Valuation

Quarter	P/S	P/E
Q4 21	1.0x	14.7x
Q1 22	1.0x	18.1x
Q2 22	0.7x	18.0x
Q3 22	0.7x	21.9x
Q4 22	0.7x	27.9x
Q1 23	0.7x	26.7x
Q2 23	0.6x	18.7x
Q3 23	0.5x	13.8x
Q4 23	0.6x	15.9x
Q1 24	0.7x	17.7x
Q2 24	0.6x	13.7x
Q3 24	0.6x	15.7x
Q4 24	0.6x	14.9x
Q1 25	0.4x	10.2x
Q2 25	0.4x	11.5x
Q3 25	0.4x	11.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$3.0B	$2.0B
Q1 22	-$1.4B	-$2.3B
Q2 22	$1.3B	-$224M
Q3 22	$599M	-$1.2B
Q4 22	$3.5B	$2.3B
Q1 23	$1.3B	-$340M
Q2 23	$2.1B	$913M
Q3 23	$1.9B	$807M
Q4 23	$3.3B	$2.4B
Q1 24	$1.1B	$427M
Q2 24	$2.2B	$1.6B
Q3 24	$739M	$84M
Q4 24	$3.3B	$2.4B
Q1 25	$275M	-$515M
Q2 25	$2.1B	$1.0B
Q3 25	$1.1B	$149M

Capital Expenditures

Quarter	CapEx
Q4 21	$1.1B
Q1 22	$952M
Q2 22	$1.6B
Q3 22	$1.8B
Q4 22	$1.2B
Q1 23	$1.6B
Q2 23	$1.2B
Q3 23	$1.1B
Q4 23	$854M
Q1 24	$674M
Q2 24	$639M
Q3 24	$655M
Q4 24	$923M
Q1 25	$790M
Q2 25	$1.1B
Q3 25	$978M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+9.4%	+9.0%
Q1 22	+4.0%	+9.2%
Q2 22	+3.5%	+13.3%
Q3 22	+3.4%	+7.8%
Q4 22	+1.3%	+4.6%
Q1 23	+0.6%	+0.7%
Q2 23	-4.9%	-8.3%
Q3 23	-4.2%	-5.5%
Q4 23	+1.7%	-0.6%
Q1 24	-3.1%	-3.2%
Q2 24	+2.7%	+1.0%
Q3 24	+1.1%	+1.7%
Q4 24	-3.1%	-2.0%
Q1 25	-2.8%	-3.7%
Q2 25	-0.9%	+0.3%
Q3 25	-1.6%	-0.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$41M	0.1%
Q1 22	$83M	0.3%
Q2 22	$39M	0.1%
Q3 22	$55M	0.2%
Q4 22	$43M	0.1%
Q1 23	$43M	0.2%
Q2 23	$64M	0.3%
Q3 23	$69M	0.3%
Q4 23	$75M	0.2%
Q1 24	$72M	0.3%
Q2 24	$77M	0.3%
Q3 24	$80M	0.3%
Q4 24	$75M	0.2%
Q1 25	$69M	0.3%
Q2 25	$64M	0.3%
Q3 25	$64M	0.3%

OpEx Breakdown

Quarter	SG&A
Q4 21	$5.5B
Q1 22	$4.8B
Q2 22	$5.0B
Q3 22	$5.2B
Q4 22	$5.7B
Q1 23	$5.0B
Q2 23	$5.2B
Q3 23	$5.3B
Q4 23	$6.0B
Q1 24	$5.2B
Q2 24	$5.4B
Q3 24	$5.5B
Q4 24	$5.9B
Q1 25	$4.6B
Q2 25	$5.4B
Q3 25	$5.5B

Revenue Segments

Quarter	Apparel and Accessories	Beauty and Household Essentials	Credit Card Profit Sharing	Food and Beverage	Hardlines	Home Furnishings and Decor	Other Product	Other Products and Services	Other, Other Revenue	Beauty	Advertising Revenue
Q4 21	$4.5B	$7.2B	$183M	$5.7B	$7.0B	$6.1B	$114M	$380M	$197M	—	—
Q1 22	$4.2B	$7.1B	$185M	$5.5B	$3.7B	$4.3B	$49M	$340M	$155M	—	—
Q2 22	$4.6B	$7.2B	$181M	$5.3B	$3.9B	$4.6B	$47M	$384M	$203M	—	—
Q3 22	$4.4B	$7.5B	$184M	$5.7B	$3.7B	$4.8B	$45M	$396M	$212M	—	—
Q4 22	$4.4B	$7.8B	$184M	$6.4B	$6.5B	$5.7B	$106M	$412M	$228M	—	—
Q1 23	$4.0B	$7.7B	$174M	$6.0B	$3.4B	$3.9B	$56M	$374M	$200M	—	—
Q2 23	$4.1B	$7.5B	$169M	$5.4B	$3.4B	$4.0B	$40M	$389M	$220M	—	—
Q3 23	$4.0B	$7.6B	$165M	$5.7B	$3.2B	$4.4B	$30M	$394M	$229M	—	—
Q4 23	$4.4B	$8.5B	$159M	$6.8B	$6.2B	$5.5B	$87M	$452M	$293M	—	—
Q1 24	$3.9B	$4.5B	$142M	$5.9B	$3.2B	$3.5B	$46M	—	$246M	$3.1B	—
Q2 24	$4.3B	$4.6B	$144M	$5.5B	$3.3B	$3.9B	$44M	—	$287M	$3.4B	—
Q3 24	$4.0B	$4.7B	$148M	$5.9B	$3.2B	$4.2B	$30M	—	$292M	$3.2B	—
Q4 24	$4.3B	$4.8B	$142M	$6.5B	$6.2B	$5.1B	$97M	—	-$304M	$3.4B	$649M
Q1 25	$3.7B	$4.4B	$141M	$5.9B	$3.1B	$3.2B	$40M	—	—	$3.1B	$163M
Q2 25	$4.1B	$4.4B	$134M	$5.6B	$3.5B	$3.7B	$184M	—	—	$3.4B	$217M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.1B	$0	$1.1B
Q2 22	$1.1B	$0	$1.1B
Q3 22	$954M	$0	$954M
Q4 22	$2.2B	$0	$2.2B
Q1 23	$1.3B	$0	$1.3B
Q2 23	$1.6B	$0	$1.6B
Q3 23	$1.9B	$0	$1.9B
Q4 23	$3.8B	$0	$3.8B
Q1 24	$3.6B	$0	$3.6B
Q2 24	$3.5B	$0	$3.5B
Q3 24	$3.4B	$0	$3.4B
Q4 24	$4.8B	$0	$4.8B
Q1 25	$2.9B	$0	$2.9B
Q2 25	$4.3B	$0	$4.3B
Q3 25	$3.8B	$0	$3.8B
Q4 25	$5.5B	$0	$5.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	481M	-1.8%	-5.0%
Q1 22	468M	-2.7%	-7.1%
Q2 22	464M	-0.9%	-6.8%
Q3 22	463M	-0.2%	-5.5%
Q4 22	463M	+0.0%	-3.7%
Q1 23	463M	+0.0%	-1.0%
Q2 23	463M	-0.1%	-0.2%
Q3 23	463M	+0.0%	+0.0%
Q4 23	463M	+0.1%	+0.1%
Q1 24	464M	+0.2%	+0.2%
Q2 24	464M	-0.1%	+0.2%
Q3 24	462M	-0.4%	-0.2%
Q4 24	458M	-0.7%	-1.0%
Q1 25	457M	-0.4%	-1.6%
Q2 25	456M	-0.2%	-1.7%
Q3 25	456M	+0.0%	-1.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$68.9K	450K
Q1 22	$55.9K	450K
Q2 22	$57.9K	450K
Q3 22	$58.9K	450K
Q4 22	$71.4K	440K
Q1 23	$57.5K	440K
Q2 23	$56.3K	440K
Q3 23	$57.7K	440K
Q4 23	$76.9K	415K
Q1 24	$59.1K	415K
Q2 24	$61.3K	415K
Q3 24	$61.9K	415K
Q4 24	$70.3K	440K
Q1 25	$54.2K	440K
Q2 25	$57.3K	440K
Q3 25	$57.4K	440K

Revenue / Employee