— Know what they know.
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Not Investment Advice

TGT

NYSE · USD
Target Corporation
Consumer Defensive · Discount Stores
CEO Michael J. Fiddelke Employees 415,000 R&D / revenue 0.0%
Last price
$154.24−1.53%last session
Market cap
$70.1B
P/E (TTM)
15.9x
From 52w high
−9.7%
From 52w low
+84.9%
1-year return
+78.2%
RSI 14 · vs SMA200
47.6 · +18.4%
IS score
62.2/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

TGT   SPY   XLP (sector ETF) · weekly closes
100120140160180Jan 26Apr 26Jul 26Oct 26TGT 178SPY 116XLP 111

Score DNA

Each bar is a 0-100 score within the scored universe
49
Profitability
51
Growth
67
Value
78
Momentum
80
Risk (safety)
70
Quality
63
Balance sheet
85
Earnings quality

Flags

Strengths
✓ FCF yield 5%+
Warnings
▲ Share count rising
Observations
Moat model: Weak, Efficient ScalePiotroski 6 / 9Altman Z 3.2Beta 0.992 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
7 open-market sales, $19.7M
Form 144 notices (12m): 8, $23.3M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+47
211 new holders, 140 closed
1,889 filers hold 90.1% · 724 added, 677 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+204
1,282 funds adding shares
1,078 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
66.6%
20-day avg 61.7%, 50-day avg 55.9%
Latest 4.9 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$104.8B
Revenue growth YoY−1.7%
Gross margin27.9%
Operating income$5.1B
Operating margin4.9%
Net income$3.7B
Net margin3.5%
EPS (diluted)$8.13
Cash flow
Operating cash flow$6.6B
Capital expenditure$3.7B
Free cash flow$2.8B
FCF conversion (FCF / OCF)43.2%
Stock-based compensation$281.0M
FCF less SBC$2.6B
Buybacks$408.0M
Dividends$2.1B
Balance sheet & returns
Cash & short-term investments$5.5B
Total debt$5.6B
Net debt$104.0M
Shareholders' equity$16.2B
Goodwill & intangibles$0
Debt / equity1.05
ROE (TTM)26.7%
ROIC (TTM)11.3%
Operating margin by fiscal year
8.7%FY20213.6%FY20225.3%FY20235.3%FY20244.4%FY2025
Revenue $106.0B (FY2021) to $104.8B (FY2025), a -0.3% CAGR.

Valuation

P/E (TTM)15.9x
EV / EBITDA9.0x
Price / sales0.65x
Price / FCF15.4x
FCF yield6.49%
Buyback yield0.58%
SBC / revenue0.3%
Price / book3.93x
Forward P/E FY202715.1x
Forward multiples divide today's price by Street EPS estimates. Street mean target $163.97 across 32 analysts last quarter is theirs, not ours.

TGT vs industry median

18 companies in Discount Stores
Gross margin 29.3% 28.8% Operating margin 5.6% 5.9% Net margin 4.1% 3.3% ROIC 11.3% 14.2%
TGT (TTM)Industry median Asset turnover 1.76 vs industry 1.99 · financial leverage 3.43

Earnings delivery

Next report 2026-11-18 · consensus EPS $2.05
75%
beat rate, 9 of 12 quarters
+9.6%
median EPS surprise
5
longest beat streak
+42+23-1+18-20+6-17+0+4+13+16+75
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-15 to 2026-08-19. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
TGT Target Corporation $70.1B15.9x26.7%4.1%−1.7% +78.2%
DG Dollar General Corporation $29.7B17.4x19.7%4.9%+4.8% +29.4%
DLTR Dollar Tree, Inc. $23.3B15.1x45.9%10.5%−7.8% +32.1%
BJ BJ's Wholesale Club Holdings $13.0B22.3x27.7%2.8%+9.1% +10.7%
COST Costco Wholesale Corporation $438.3B47.6x28.4%3.1%+10.1% +7.0%
CL Colgate-Palmolive Company $75.0B37.0x434.3%12.9%+5.2% —
MDLZ Mondelez International, Inc. $81.6B23.4x13.3%16.5%+6.9% —
MNST Monster Beverage Corporation $89.6B42.0x25.7%23.0%+20.4% —
12-month window: SPY +15.9%, sector ETF XLP +11.4%. Past returns describe history only.

Recent 8-K filings

2026-08-19Earnings Release; Exhibits
2026-08-14Material Agreement; Termination of Agreement; Financial Obligation; Exhibits
2026-07-22Officer/Director Change; Exhibits
2026-06-12Officer/Director Change; Shareholder Vote; Exhibits
2026-05-20Earnings Release; Exhibits
2026-03-03Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding454,296,735
Free float99.7%
Institutional ownership90.1%
Beta0.99
Dividend yield2.97%
Last dividend$1.16 on 2026-11-10
50 / 200-day average$157.34 / $131.35
Large-cap Consumer Defensive median P/E23.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where TGT sits among 8 scored companies in Discount Stores (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureTGTIndustry medianIndustry percentileSector median
P/E (TTM) 16.0x 21.1x
14th		 20.0x
PEG (P/E ÷ 3-yr EPS CAGR) 1.65 2.53
33rd		 1.14
Price / sales 0.7x 1.0x
14th		 1.1x
Price / book 3.9x 4.9x
43rd		 2.5x
Price / tangible book 3.7x 7.8x
14th		 4.0x
Price / free cash flow 15.4x 30.2x
29th		 14.7x
Price / operating cash flow 8.0x 14.0x
29th		 9.4x
Enterprise value $83.4B $36.8B
71st		 $5.1B
EV / sales 0.8x 1.2x
14th		 1.3x
EV / EBITDA 9.0x 13.9x
0th		 12.3x
EV / EBIT 13.7x 18.1x
14th		 16.5x
EV / free cash flow 18.3x 35.2x
29th		 18.2x
Earnings yield 6.3% 4.8%
86th		 3.9%
FCF yield 6.5% 3.4%
71st		 6.5%
Operating cash flow yield 12.4% 7.4%
71st		 10.4%
Graham number (per share) $91.96 $66.00
86th		 $35.68

Profitability (TTM)

MeasureTGTIndustry medianIndustry percentileSector median
Gross margin 29.3% 27.3%
57th		 34.4%
EBITDA margin 8.6% 7.2%
71st		 10.7%
Operating margin 5.6% 5.1%
71st		 7.6%
EBIT margin 5.7% 4.9%
71st		 6.9%
Net margin 4.1% 3.5%
71st		 3.3%
NOPAT margin 4.3% 3.8%
71st		 4.8%
FCF margin 4.2% 3.7%
57th		 7.6%
Operating cash flow margin 8.1% 7.0%
57th		 11.1%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 21.2% 21.0%
57th		 21.1%
Stock comp / revenue 0.3% 0.3%
57th		 0.5%
Effective tax rate 22.4% 24.6%
0th		 23.2%

Returns on capital

MeasureTGTIndustry medianIndustry percentileSector median
ROE (on average equity) 26.4% 24.9%
57th		 10.4%
ROA 7.4% 7.8%
29th		 4.9%
ROIC 15.0% 14.2%
57th		 8.2%
ROCE 15.2% 16.2%
43rd		 9.1%
Return on tangible assets 10.2% 11.3%
14th		 7.2%
Cash ROIC (OCF / invested capital) 28.0% 24.6%
71st		 15.0%
Gross profitability (GP / assets) 51.5% 47.6%
57th		 32.4%
ROIC, 3-yr average 13.2% 10.3%
86th		 6.4%
ROIC, 5-yr average 16.6% 12.3%
86th		 7.8%
ROE, 5-yr average 29.8% 22.5%
86th		 11.4%
Incremental ROIC 140.9% 49.8%
100th		 12.8%

Growth

MeasureTGTIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 2.0% 7.6%
14th		 3.8%
Revenue growth (QoQ) 4.3% 5.2%
29th		 4.3%
Revenue CAGR, 3 yr -0.1% 5.4%
14th		 3.8%
Revenue CAGR, 5 yr 1.4% 6.6%
14th		 5.1%
Gross profit CAGR, 3 yr 6.9% 6.8%
57th		 4.0%
Operating income CAGR, 3 yr 8.2% 9.4%
43rd		 4.3%
Net income growth (TTM YoY) 11.8% 11.8%
50th		 5.6%
Net income CAGR, 3 yr 9.2% 10.2%
29th		 5.4%
EPS growth (TTM YoY) 11.6% 11.6%
50th		 4.7%
EPS CAGR, 3 yr 9.7% 12.4%
29th		 6.8%
EPS CAGR, 5 yr -5.4% 8.9%
14th		 4.1%
FCF growth (TTM YoY) 54.6% 23.8%
86th		 23.4%
FCF CAGR, 3 yr 40.7% 18.5%
71st		 14.6%
Operating cash flow CAGR, 3 yr 5.3% 13.3%
29th		 6.4%
Book value CAGR, 3 yr 14.7% 12.0%
86th		 5.3%
Dividend CAGR, 3 yr 0.8% 3.3%
25th		 1.7%
Sustainable growth rate 14.0% 15.1%
29th		 8.3%

Margin history & stability

MeasureTGTIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 27.1% 26.0%
57th		 34.7%
Operating margin, 3-yr average 5.3% 4.5%
86th		 6.7%
Net margin, 3-yr average 4.0% 2.9%
86th		 4.2%
FCF margin, 3-yr average 4.0% 3.4%
57th		 6.5%
Revenue stability (0-1) 0.53 0.97
14th		 0.81
Earnings stability (0-1) 0.25 0.81
14th		 0.34
Margin stability (0-1) 0.92 0.97
29th		 0.95

Liquidity (latest quarter)

MeasureTGTIndustry medianIndustry percentileSector median
Cash & short-term investments $5.4B $1.3B
71st		 $279.3M
Net cash (− = net debt) −$13.3B −$4.7B
29th		 −$1.0B
Working capital −$252.0M $313.1M
29th		 $285.9M
Current ratio 0.99 1.10
29th		 1.43
Quick ratio 0.36 0.38
43rd		 0.86
Cash ratio (cash + ST investments / current liabilities) 0.26 0.29
43rd		 0.28
Defensive interval (days) 77 days 73 days
57th		 251 days

Leverage & solvency (latest quarter)

MeasureTGTIndustry medianIndustry percentileSector median
Total debt $18.7B $8.1B
86th		 $1.8B
Debt / equity 1.05 0.90
57th		 0.75
Net debt / equity 0.74 0.69
57th		 0.55
Debt / assets 30.5% 27.8%
57th		 31.6%
Debt / capital 51.2% 47.0%
57th		 43.0%
Debt / EBITDA 2.02 1.87
57th		 2.69
Net debt / EBITDA 1.44 1.38
57th		 2.14
Interest coverage (EBIT / interest) 14.2x 15.6x
33rd		 4.7x
Cash interest coverage 20.3x 21.8x
33rd		 8.2x
Debt payback (years of OCF) 2.1 yrs 2.1 yrs
57th		 2.8 yrs
Liabilities / assets 70.9% 67.7%
57th		 56.2%
IS credit model rating BBB+ — —
Implied credit spread (bps) 225 162
86th		 225

Efficiency

MeasureTGTIndustry medianIndustry percentileSector median
Asset turnover 1.81 2.10
43rd		 0.94
Fixed asset turnover 2.81 3.64
43rd		 4.44
Inventory turnover 5.8 6.9
43rd		 6.0
Receivables turnover —
Days sales outstanding 0 days 1 days
0th		 30 days
Days inventory outstanding 63 days 54 days
57th		 61 days
Days payables outstanding 61 days 41 days
100th		 38 days
Cash conversion cycle (days) 2 days 8 days
14th		 37 days
Capex / revenue 3.9% 3.8%
57th		 3.1%
Capex / depreciation 1.31 1.97
0th		 0.92
Operating expense ratio 24.0% 22.6%
57th		 24.8%

Cash flow & earnings quality

MeasureTGTIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.99 1.86
86th		 1.87
FCF / net income 1.04 0.92
71st		 1.28
FCF / operating cash flow 52.2% 55.8%
43rd		 71.9%
Capex / operating cash flow 47.8% 44.2%
57th		 29.5%
Accruals ratio -7.3% -7.3%
57th		 -6.1%
Sloan accruals ratio -5.4% -4.9%
29th		 -3.9%
Earnings quality score (0-1) 0.75 0.75
0th		 0.75

Dividends & buybacks

MeasureTGTIndustry medianIndustry percentileSector median
Dividend yield 3.0% 0.7%
100th		 1.8%
Dividend per share (TTM) $4.58 $1.19
86th		 $0.64
Payout ratio (dividends / net income) 47.1% 26.3%
100th		 32.1%
Dividends / FCF 45.4% 22.7%
71st		 27.4%
Dividend growth (YoY) 0.8% 8.8%
25th		 1.8%
Buyback yield 0.7% 0.7%
43rd		 0.9%
Shareholder yield (dividends + buybacks) 3.7% 2.5%
71st		 3.6%
Share count change (YoY) 0.2% -0.3%
71st		 -0.2%
Buybacks, last 5 years $3.7B $2.4B
57th		 $184.1M

Scores & forensic checks

MeasureTGTIndustry medianIndustry percentileSector median
IS score 62 59
71st		 53
IS profitability 49 40
71st		 32
IS growth 51 54
29th		 50
IS value 67 46
100th		 49
IS momentum 78 81
29th		 73
IS risk (safety) 80 100
14th		 80
IS quality 70 70
71st		 65
IS balance sheet 63 62
57th		 53
IS earnings quality 85 84
71st		 76
IS cash flow 59 55
57th		 57
Piotroski F-score (0-9) 6 6
14th		 6
Altman Z-score 3.2 4.7
14th		 3.2
Beneish M-score −2.79 −2.80
57th		 −2.71
Ohlson O-score −7.64 −7.80
57th		 −7.61
IS credit score 60 71
14th		 64

Per share

MeasureTGTIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $9.62 $6.46
86th		 $2.03
Book value per share $39.08 $35.27
57th		 $16.28
Tangible book per share $39.27 $18.65
71st		 $3.52
Revenue per share $235.88 $183.30
86th		 $41.08
FCF per share $9.97 $6.71
71st		 $3.18
Operating cash flow per share $19.10 $12.37
71st		 $4.93
Cash per share $11.85 $6.36
86th		 $2.81

Size (TTM)

MeasureTGTIndustry medianIndustry percentileSector median
Market cap $70.1B $26.5B
71st		 $4.0B
Revenue $107.7B $33.2B
71st		 $5.2B
EBITDA $9.3B $3.2B
71st		 $426.9M
Net income $4.4B $1.7B
71st		 $167.0M
Free cash flow $4.6B $2.3B
71st		 $345.6M
Total assets $61.2B $23.1B
71st		 $4.8B
Shareholders' equity $17.8B $6.4B
71st		 $1.6B
Employees 415,000 172,000
86th		 9,700

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Weinstein Mark A.
Executive Officer
 Award / grant 2,142——2,142
2026-09-30Weinstein Mark A.
Executive Officer
 Award / grant 23,787——25,929
2026-09-30Lee James
Executive Officer
 Tax withholding 7,636$157.94$1.2M83,823
2026-08-25Cornell Brian C
Director, Executive Officer
 Open-market sale 50,000$163.56$8.2M143,270
2026-08-24Kremer Melissa K
Executive Officer
 Open-market sale 15,500$169.96$2.6M56,981
2026-08-21Liegel Matthew A
Chief Accounting Officer
 Open-market sale 926$163.51$151,41012,266
2026-08-03Depinto Joseph Michael
Director
 Award / grant 1,007——1,007
2026-06-30Mcgee Grant B
Executive Officer
 Award / grant 4,127——4,127
2026-06-30Mcgee Grant B
Executive Officer
 Award / grant 15,282——19,409
2026-06-29Roath Lisa R
Executive Officer
 Open-market sale 7,000$138.07$966,49035,465
2026-05-29Sylvester Cara A
Executive Officer
 Open-market sale 10,000$125.89$1.3M45,930
2026-05-27Cornell Brian C
Director, Executive Officer
 Open-market sale 49,000$129.84$6.4M194,270

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired546,345—
Open-market saleDisposed7133,426$19.7M
Tax withholdingDisposed17,636$1.2M
—Disposed30—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 8 notices · 160,746 shares · $23.3M
FiledFilerShares proposedEst. proceeds
2026-08-25Cornell Brian C50,000$8.5M
2026-08-24Kremer Melissa K15,500$2.6M
2026-08-21Liegel Matthew A926$151,410
2026-06-29Roath Lisa R7,000$966,491
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 3 trades (0 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-04Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-01-29Ro KhannaHouseSale$1,001 - $15,0002026-02-10
2025-10-24Ro KhannaHouseSale$1,001 - $15,0002025-11-14
2025-09-29Ro KhannaHouseSale$1,001 - $15,0002025-10-03
2025-04-11Shelley Moore CapitoSenateSale$1,001 - $15,0002025-05-07
2025-04-11Shelley Moore CapitoSenateSale (Full)$1,001 - $15,0002025-05-07
2025-04-11Shelley Moore CapitoSenateSale$1,001 - $15,0002025-05-07
2025-04-11Shelley Moore CapitoSenateSale (Full)$1,001 - $15,0002025-05-06
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.38,699,974$5.1B8.52%
STATE STREET CORP36,049,727$4.7B7.94%
VANGUARD CAPITAL MANAGEMENT LLC29,644,004$3.9B6.53%
FMR LLC24,630,329$3.2B5.42%
VANGUARD PORTFOLIO MANAGEMENT LLC22,057,164$2.9B4.86%
GEODE CAPITAL MANAGEMENT, LLC10,839,432$1.4B2.39%
Bank of New York Mellon Corp6,331,396$826.9M1.39%
GOLDMAN SACHS GROUP INC6,254,175$816.9M1.38%
NORGES BANK6,124,565$799.9M1.35%
DIMENSIONAL FUND ADVISORS LP5,858,942$765.4M1.29%
ROYAL BANK OF CANADA4,661,676$608.9M1.03%
BANK OF AMERICA CORP /DE/4,575,880$597.7M1.01%
Invesco Ltd.4,336,265$566.4M0.95%
Allianz Asset Management GmbH4,099,109$535.4M0.90%
Capital World Investors3,864,700$504.8M0.85%

Institutional ownership by quarter

2023-092026-0690.1%
% of shares held by 13F filers
2023-092026-061,889
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,88990.1%211724677140
2026-03-311,84284.1%285667650144
2025-12-311,72583.8%294524706163
2025-09-301,63181.5%131565743205
2025-06-301,73384.8%161616775206
2025-03-311,80583.6%165694741282
2024-12-311,95982.0%270649847240
2024-09-301,97483.2%178771767110
2024-06-301,93282.4%134770763209
2024-03-312,03680.8%269751772136
2023-12-311,93181.3%365629758116
2023-09-301,71779.6%140671703207

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-30SCHEDULE 13GVanguard Capital Management7.5%34,035,678
2025-10-31SCHEDULE 13G/AThe Vanguard Group12.7%57,924,543
2025-07-29SCHEDULE 13G/AThe Vanguard Group11.3%51,442,627
2025-05-07SCHEDULE 13G/AThe Vanguard Group10.0%45,453,710
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.10%$2.3B
VTSAX0.10%$2.3B
VSMPX0.10%$2.3B
VTI0.10%$2.3B
SCHD1.76%$2.0B
VOO0.11%$1.9B

Share structure

Shares outstanding454,296,735
Float452,783,928
Free float99.7%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$106.0B$109.1B$107.4B$106.6B$104.8B
Cost of revenue$77.3B$84.6B$80.2B$79.0B$75.5B
Gross profit$28.7B$24.5B$27.3B$27.5B$29.3B
R&D$0$0$0$0$0
SG&A$19.7B$20.6B$21.5B$21.9B$21.5B
Operating income$9.0B$3.9B$5.8B$5.6B$5.1B
EBITDA$12.0B$6.6B$8.6B$8.7B$8.0B
Pretax income$8.9B$3.4B$5.3B$5.3B$4.8B
Income tax$2.0B$638.0M$1.2B$1.2B$1.1B
Net income$6.9B$2.8B$4.1B$4.1B$3.7B
EPS, diluted$14.10$5.98$8.94$8.86$8.13
Diluted shares492.7M464.7M462.8M461.8M455.6M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$5.9B$2.2B$3.8B$4.8B$5.5B
Receivables$1.4B$1.7B$1.4B$1.5B$0
Inventory$13.9B$13.5B$11.9B$12.7B$12.3B
Total current assets$21.6B$17.8B$17.5B$19.5B$20.0B
PP&E, net$30.7B$34.2B$36.5B$36.8B$37.5B
Goodwill & intangibles$656.0M$645.0M$631.0M$631.0M$0
Total assets$53.8B$53.3B$55.4B$57.8B$59.5B
Accounts payable$15.5B$13.5B$12.1B$13.1B$12.6B
Total current liabilities$21.7B$19.5B$19.3B$20.8B$21.2B
Long-term debt$13.5B$16.0B$14.9B$14.3B$3.5B
Total liabilities$41.0B$42.1B$41.9B$43.1B$43.3B
Shareholders' equity$12.8B$11.2B$13.4B$14.7B$16.2B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$6.9B$2.8B$4.1B$4.1B$3.7B
Depreciation & amortization$2.6B$2.7B$2.8B$3.0B$3.1B
Stock-based compensation$228.0M$220.0M$251.0M$304.0M$281.0M
Change in working capital−$1.4B−$2.4B$1.0B$145.0M−$403.0M
Operating cash flow$8.6B$4.0B$8.6B$7.4B$6.6B
Capital expenditure−$3.5B−$5.5B−$4.8B−$2.9B−$3.7B
Free cash flow$5.1B−$1.5B$3.8B$4.5B$2.8B
Investing cash flow−$3.2B−$5.5B−$4.8B−$2.9B−$3.6B
Net debt issued / repaid$825.0M$2.5B−$147.0M−$398.0M$341.0M
Buybacks−$7.2B−$2.6B−$127.0M−$1.0B−$408.0M
Dividends paid−$1.5B−$1.8B−$2.0B−$2.0B−$2.1B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin27.3%22.5%26.0%25.9%26.7%
Operating margin8.7%3.6%5.3%5.3%4.4%
Net margin6.6%2.5%3.9%3.8%3.5%
FCF margin4.8%-1.4%3.6%4.2%2.8%
ROE50.9%23.1%33.6%29.1%24.0%
ROIC30.8%11.3%15.3%14.7%21.8%
ROA13.2%5.2%7.6%7.2%6.3%
Debt / equity1.281.701.461.360.35
Interest coverage22.2x8.2x11.6x13.9x11.7x
Current ratio0.990.920.910.940.94
Revenue growth+13.3%+2.9%−1.6%−0.8%−1.7%
EPS growth+67.4%−58.4%+48.7%−0.1%−8.8%
P/E at year end13.5x25.8x14.5x14.8x12.8x
EV / EBITDA at year end8.7x13.4x8.8x8.7x5.7x
FCF yield at year end5.44%-2.10%6.37%7.39%6.17%
Dividend payout22.3%66.0%48.6%50.0%55.4%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Beauty and Household Essentials$27.3B$29.6B$31.3B$18.6B$18.0B
Food & beverage————$24.1B
Food and Beverage$20.3B$22.9B$23.9B$23.8B$24.1B
Home Furnishings and Decor$20.3B$19.5B$17.8B$16.7B$15.6B
Hardlines$18.6B$17.7B$16.2B$15.8B$15.8B
Household essentials————$18.0B
Apparel and Accessories$17.9B$17.6B$16.5B$16.5B—
Apparel & accessories————$15.7B
Home furnishings & decor————$15.6B
Beauty———$13.2B$13.2B
Other Products and Services$1.4B$1.5B$1.6B——
Other, Other Revenue$684.0M$798.0M$942.0M$521.0M—
Advertising revenue————$915.0M
Advertising Revenue———$649.0M$915.0M
Other Product$237.0M$247.0M$213.0M$217.0M$831.0M
Credit Card Profit Sharing$710.0M$734.0M$667.0M$576.0M$522.0M
Other————$626.0M
Credit card profit sharing————$522.0M
Other merchandise sales————$205.0M

Street estimates by fiscal year

Next report 2026-11-18 · consensus EPS $2.05 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$104.8B$104.5B – $105.1B$7.30$7.00 – $7.422521.1x
2026$104.7B$104.5B – $105.1B$7.29$6.99 – $7.412121.2x
2027$110.1B$109.4B – $110.7B$10.20$9.00 – $10.522515.1x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-19$2.35$4.11+74.9%$26.1B$26.5B+1.6%
2026-05-20$1.47$1.71+16.3%$24.7B$25.4B+3.2%
2026-03-03$2.16$2.44+13.0%$30.5B$30.5B−0.0%
2025-11-19$1.71$1.78+4.1%$25.3B$25.3B−0.2%
2025-08-20$2.04$2.05+0.5%$24.9B$25.2B+1.1%
2025-05-21$1.56$1.30−16.7%$24.1B$23.8B−1.2%
2025-03-04$2.27$2.41+6.2%$30.8B$30.9B+0.5%
2024-11-20$2.30$1.85−19.6%$25.9B$25.7B−0.8%
2024-08-21$2.18$2.57+17.9%$25.2B$25.5B+1.0%
2024-05-22$2.06$2.03−1.5%$24.5B$24.5B+0.1%
2024-03-05$2.42$2.98+23.1%$31.9B$31.9B+0.1%
2023-11-15$1.48$2.10+41.9%$29.2B$25.4B−12.9%
2023-08-16$1.39$1.80+29.5%$25.2B$24.8B−1.6%
2023-05-17$1.76$2.05+16.5%$25.3B$25.3B+0.1%
2023-02-28$1.40$1.89+35.0%$30.7B$31.4B+2.2%
2022-11-16$2.13$1.54−27.7%$26.4B$26.5B+0.4%
2022-08-17$0.72$0.39−45.8%$26.0B$26.0B+0.0%
2022-05-18$3.07$2.19−28.7%$24.5B$25.2B+2.8%
2022-03-01$2.86$3.19+11.5%$31.3B$31.0B−1.1%
2021-11-17$2.83$3.03+7.1%$31.6B$25.7B−18.7%
2021-08-18$3.49$3.64+4.3%$24.6B$25.2B+2.4%
2021-05-19$2.25$3.69+64.0%—$24.2B—
2021-03-02$2.54$2.67+5.1%$90.7B$28.3B−68.8%
2020-11-18$1.61$2.79+73.3%$21.5B$22.6B+5.1%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.506-150.806-220.706-290.707-060.807-130.507-200.707-270.608-030.908-101.408-171.208-240.708-31
Week ofNotionalSharesTrades
2026-08-31$653.4M4,002,20194,342
2026-08-24$1.2B7,427,752129,930
2026-08-17$1.4B9,129,652145,989
2026-08-10$904.0M5,901,427108,426
2026-08-03$629.2M4,241,38298,515
2026-07-27$681.7M4,737,252103,696

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1566.6%
DateShort shareShort volumeTotal volume
2026-10-1566.6%954,4911,434,018
2026-10-1465.1%921,1741,415,604
2026-10-1362.3%737,1361,183,992
2026-10-1265.5%950,7271,451,851
2026-10-0967.7%891,8181,317,933
2026-10-0852.3%800,9251,530,174
2026-10-0758.8%755,3271,283,914
2026-10-0661.0%639,2951,048,416
2026-10-0557.7%986,4211,708,578
2026-10-0258.0%480,961829,146
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.2Jan+0.4Feb+0.9Mar+1.7Apr-2.1May-1.1Jun+3.3Jul+4.2Aug-0.8Sep+1.0Oct+2.7Nov+0.2Dec
MonthAvg returnUp yearsYears
Jan+0.2%50%20
Feb+0.4%55%20
Mar+0.9%52%21
Apr+1.7%50%20
May−2.1%45%20
Jun−1.1%50%20
Jul+3.3%70%20
Aug+4.2%55%20
Sep−0.8%50%20
Oct+1.0%60%20
Nov+2.7%65%20
Dec+0.2%50%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1447.6
MFI45.5
ADX13.2
Stochastic %K / %D48.9 / 40.0
Williams %R-59.8
CCI5
TSI / signal-5.3 / -3.3
Chaikin money flow-0.12
ATR$3.96
Bollinger width5.3%
Volume vs 20-day avg1.63x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$155.46 (−0.8%)
SMA 50$157.41 (−2.0%)
SMA 200$130.27 (+18.4%)
EMA 21$155.32 (−0.7%)
EMA 50$153.64 (+0.4%)
EMA 200$134.19 (+14.9%)
Bollinger upper$159.61 (−3.4%)
Bollinger lower$151.32 (+1.9%)
Parabolic SAR$150.63 (+2.4%)
Open the live chart, 110+ indicators

About Target Corporation

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food and general merchandise, clothing and household goods, electronics, and toys. Its brands include A New Day, All in Motion, Art Class, Auden, AVA & VIV, Boots and Barkley, Brightroom, Bullseye's Playground, Casaluna, Cat & Jack, Cloud Island, Colsie, dealworthy, Embark, Everspring, Favorite Day, Figmint, Future Collective, Gigglescape, Good & Gather, Goodfellow & Co, Hearth & Hand with Magnolia, Heyday, Hyde & EEK! Boutique, JoyLab, Kindfull, Kona Sol, Made By Design, Market Pantry, Mondo Llama, More Than Magic, Opalhouse, Open Story, Original Use, Pillowfort, Project 62, Room Essentials, Shade & Shore, Smartly, Smith & Hawken, Sonia Kashuk, Spritz, Sun Squad, Threshold, Universal Thread, up&up, Wild Fable, Wondershop, Xhilaration, California Roots, Casa Cantina, The Collection, Headliner, Jingle & Mingle, Rosé Bae, Photograph, SunPop, and Wine Cube. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

https://corporate.target.com

Key executives

NameTitlePayBorn
Brian C. CornellExecutive Chair of the Board$3.3M1959
Lisa RoathExecutive Vice President & Chief Operating Officer$1.8M1978
Michael J. FiddelkeCEO & Director$1.7M1977
James LeeExecutive Vice President & Chief Financial Officer$1.3M1975
Melissa K. KremerExecutive Vice President & Chief HR Officer$1.3M1978
Joe ContrucciSenior Vice President of Stores Operations——
John HulbertVice President of Investor Relations——
Matthew A. LiegelSenior Vice President, Chief Accounting Officer & Controller—1977

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Brian C. Cornell Chair & former Chief Executive Officer2025$1.4M$18.6M$787,920$21.8M
Michael J. Fiddelke Former EVP & Chief Operating Officer and current Chief Executive Officer2025$1.1M$7.9M$300,882$9.6M
Jim Lee EVP & Chief Financial Officer2025$850,000$5.1M$239,190$6.4M
Richard H. Gomez Former EVP & Chief Commercial Officer2025$837,019$4.8M$235,943$6.2M
Amy Tu Former EVP & Chief Legal & Compliance Officer2025$285,577$4.5M$0$5.8M
Melissa K. Kremer EVP & Chief HR Officer2025$787,019$4.1M$221,873$5.4M

Employees

360k2019368k2020409k2021450k2022440k2023415k2024440k2025415k2026

Dividends

Ex-dateAmountPaid
2026-11-10$1.162026-12-01
2026-08-12$1.162026-09-01
2026-05-13$1.142026-06-01
2026-02-11$1.142026-03-01
2025-11-12$1.142025-12-01
2025-08-13$1.142025-09-01
2025-05-14$1.122025-06-01
2025-02-12$1.122025-03-01

Moat model

Weak · Efficient Scale · 2026-08-01
Cost advantage45
Intangibles47
Switching costs32
Network effect45
Efficient scale95
Our component scores (0-100) and overall 49.8; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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