TGT financial statements

The full income statement, balance sheet, and cash-flow statement for Target Corporation (TGT), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-05 462.6M2024-08 460.7M2024-11 458.2M2025-02 455.6M2025-05 454.4M2025-08 454.4M2025-11 452.8M2026-01 452.9M2026-05 454.2M-1.8% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofJan 31 ’26	as ofFeb 1 ’25	as ofFeb 3 ’24	as ofJan 28 ’23	as ofJan 29 ’22
Revenue	105B YoY-1.7%	107B YoY-0.8%	107B YoY-1.6%	109B YoY+2.9%	106B YoY+13.3%
Cost of revenue	75.5B YoY-1.3%	76.5B YoY-1.7%	77.8B YoY-5.4%	82.3B YoY+9.8%	75.0B YoY+13.3%
Selling, general & administrative	21.5B YoY-2.0%	22.0B YoY+2.4%	21.5B YoY+4.3%	20.6B YoY+4.2%	19.8B YoY+6.1%
Operating income	5.12B YoY-8.1%	5.57B YoY-2.5%	5.71B YoY+48.3%	3.85B YoY-57.0%	8.95B YoY+36.8%
Interest expense	445M YoY+8.3%	411M YoY-18.1%	502M YoY+5.0%	478M YoY+13.5%	421M YoY-56.9%
Other non-operating income	95.0M YoY-10.4%	106M YoY+15.2%	92.0M YoY+91.7%	48.0M YoY-87.4%	382M YoY+2487.5%
Pre-tax income	4.77B YoY-9.4%	5.26B YoY-0.7%	5.30B YoY+55.0%	3.42B YoY-61.6%	8.91B YoY+60.6%
Income tax	1.06B YoY-9.2%	1.17B YoY+0.9%	1.16B YoY+81.7%	638M YoY-67.5%	1.96B YoY+66.5%
	3.71B YoY-9.4%	4.09B YoY-1.1%	4.14B YoY+48.8%	2.78B YoY-60.0%	6.95B YoY+59.0%
Income from continuing operations	—	—	—	—	6.95B YoY+59.0%
Net income to common	—	—	—	—	6.95B YoY+59.0%
	$8.13 YoY-8.2%	$8.86 YoY-0.9%	$8.94 YoY+49.5%	$5.98 YoY-57.6%	$14.10 YoY+63.2%
EPS (basic)	$8.16 YoY-8.2%	$8.89 YoY-0.8%	$8.96 YoY+48.8%	$6.02 YoY-57.7%	$14.23 YoY+63.2%
	454M YoY-1.4%	460M YoY-0.2%	462M YoY-0.1%	462M YoY-5.3%	488M YoY-2.5%
	456M YoY-1.3%	462M YoY-0.2%	463M YoY-0.4%	465M YoY-5.7%	493M YoY-2.5%
Dividends per share	$4.54 YoY+1.8%	$4.46 YoY+1.8%	$4.38 YoY+5.8%	$4.14 YoY+22.5%	$3.38 YoY+25.2%
Balance Sheet	as ofJan 31 ’26	as ofFeb 1 ’25	as ofFeb 3 ’24	as ofJan 28 ’23	as ofJan 29 ’22
	20.0B YoY+2.8%	19.5B YoY+11.2%	17.5B YoY-2.0%	17.8B YoY-17.3%	21.6B YoY+3.9%
Cash & equivalents	5.49B YoY+15.2%	4.76B YoY+25.2%	3.81B YoY+70.7%	2.23B YoY-62.3%	5.91B YoY-30.5%
Short-term investments	4.61B YoY+18.4%	3.89B YoY+34.4%	2.90B YoY+115.7%	1.34B YoY-73.1%	4.99B YoY-34.8%
Cash & short-term investments	5.49B YoY+15.2%	4.76B YoY+25.2%	3.81B YoY+70.7%	2.23B YoY-62.3%	5.91B YoY-30.5%
Inventory	12.3B YoY-3.4%	12.7B YoY+7.2%	11.9B YoY-11.9%	13.5B YoY-2.9%	13.9B YoY+30.5%
Prepaid expenses	223M YoY-1.3%	226M YoY+12.4%	201M YoY+6.9%	188M YoY+10.6%	170M YoY-0.6%
Other current assets	2.21B YoY+13.4%	1.95B YoY+8.0%	1.81B YoY-14.7%	2.12B YoY+20.3%	1.76B YoY+10.6%
	59.5B YoY+3.0%	57.8B YoY+4.4%	55.4B YoY+3.8%	53.3B YoY-0.9%	53.8B YoY+5.0%
Property, plant & equipment	—	—	33.1B YoY+5.0%	31.5B YoY+11.8%	28.2B YoY+4.8%
Operating lease right-of-use	3.70B YoY-1.6%	3.76B YoY+11.9%	3.36B YoY+26.5%	2.66B YoY+4.0%	2.56B YoY+14.8%
Goodwill	631M YoY+0.0%	631M YoY+0.0%	631M YoY+0.0%	631M YoY+0.0%	631M YoY+0.0%
Other non-current assets	2.03B YoY+32.9%	1.53B YoY+9.3%	1.40B YoY+6.1%	1.32B YoY-12.1%	1.50B YoY+8.3%
	21.2B YoY+2.1%	20.8B YoY+7.7%	19.3B YoY-1.0%	19.5B YoY-10.3%	21.7B YoY+8.1%
Accounts payable	12.6B YoY-3.3%	13.1B YoY+7.9%	12.1B YoY-10.3%	13.5B YoY-12.9%	15.5B YoY+20.4%
Accrued liabilities	6.48B YoY+6.0%	6.11B YoY+0.3%	6.09B YoY+3.5%	5.88B YoY-3.5%	6.10B YoY-0.4%
Short-term & current debt	2.13B YoY+30.2%	1.64B YoY+46.6%	1.12B YoY+758.5%	130M YoY-24.0%	171M YoY-85.1%
Current lease liability	372M YoY+5.4%	353M YoY+7.3%	329M YoY+11.1%	296M YoY+16.5%	254M YoY+20.4%
Finance lease liability (current)	131M YoY-3.7%	136M YoY+14.3%	119M YoY-7.8%	129M YoY+19.4%	108M YoY+22.7%
Long-term debt	14.4B YoY+3.6%	13.9B YoY-1.7%	14.2B YoY+0.1%	14.1B YoY+22.2%	11.6B YoY+8.7%
Deferred revenue (non-current)	358M YoY-7.7%	388M YoY-7.4%	419M YoY-6.7%	449M YoY-6.3%	479M YoY-5.9%
Non-current lease liability	3.46B YoY-3.4%	3.58B YoY+9.2%	3.28B YoY+24.3%	2.64B YoY+5.8%	2.49B YoY+12.4%
Operating lease liability (total)	3.83B YoY-2.6%	3.94B YoY+9.1%	3.61B YoY+23.0%	2.93B YoY+6.8%	2.75B YoY+13.1%
Finance lease liability (total)	2.11B YoY-2.2%	2.16B YoY+7.4%	2.01B YoY-2.8%	2.07B YoY-0.1%	2.08B YoY+11.9%
Finance lease liability	1.98B YoY-2.1%	2.02B YoY+6.9%	1.89B YoY-2.5%	1.94B YoY-1.2%	1.97B YoY+11.4%
Deferred tax liabilities	2.27B YoY-1.7%	2.30B YoY-7.1%	2.48B YoY+12.9%	2.20B YoY+40.2%	1.57B YoY+58.2%
Other non-current liabilities	2.04B YoY-3.5%	2.12B YoY+9.1%	1.94B YoY+10.2%	1.76B YoY+8.0%	1.63B YoY-16.0%
Total non-current liabilities	22.1B YoY-0.9%	22.3B YoY-1.4%	22.6B YoY+0.1%	22.6B YoY+17.5%	19.2B YoY+15.3%
	16.2B YoY+10.2%	14.7B YoY+9.2%	13.4B YoY+19.6%	11.2B YoY-12.4%	12.8B YoY-11.2%
Common stock	38.0M YoY+0.0%	38.0M YoY+0.0%	38.0M YoY+0.0%	38.0M YoY-2.6%	39.0M YoY-7.1%
Additional paid-in capital	7.25B YoY+3.6%	7.00B YoY+3.5%	6.76B YoY+2.3%	6.61B YoY+2.9%	6.42B YoY+1.5%
Retained earnings	9.30B YoY+14.9%	8.09B YoY+14.1%	7.09B YoY+41.7%	5.00B YoY-27.7%	6.92B YoY-21.6%
Accumulated other comprehensive income	-417M YoY+9.0%	-458M YoY+0.4%	-460M YoY-9.8%	-419M YoY+24.2%	-553M YoY+26.9%
Total liabilities & equity	59.5B YoY+3.0%	57.8B YoY+4.4%	55.4B YoY+3.8%	53.3B YoY-0.9%	53.8B YoY+5.0%
	453M YoY-0.6%	456M YoY-1.3%	462M YoY+0.3%	460M YoY-2.3%	471M YoY-5.9%
	453M YoY-0.6%	456M YoY-1.3%	462M YoY+0.3%	460M YoY-2.3%	471M YoY-5.9%
	453M YoY-0.6%	456M YoY-1.3%	462M YoY+0.3%	460M YoY-0.4%	462M YoY-7.3%
Cash Flow	as ofJan 31 ’26	as ofFeb 1 ’25	as ofFeb 3 ’24	as ofJan 28 ’23	as ofJan 29 ’22
	6.56B YoY-10.9%	7.37B YoY-14.5%	8.62B YoY+114.6%	4.02B YoY-53.4%	8.63B YoY-18.1%
Depreciation & amortization	3.13B YoY+5.1%	2.98B YoY+6.4%	2.80B YoY+3.7%	2.70B YoY+2.2%	2.64B YoY+6.3%
Share-based compensation	281M YoY-7.6%	304M YoY+21.1%	251M YoY+14.1%	220M YoY-3.5%	228M YoY+14.0%
Deferred income taxes	-55.0M YoY+69.4%	-180M YoY-160.4%	298M YoY-48.8%	582M YoY+11.5%	522M YoY+383.7%
Change in inventory	-436M YoY-151.1%	854M YoY+152.9%	-1.61B YoY-300.2%	-403M YoY-112.4%	3.25B YoY+95.6%
Change in payables	-501M YoY-149.7%	1.01B YoY+182.9%	-1.22B YoY+45.6%	-2.24B YoY-185.1%	2.63B YoY-10.2%
	-3.65B YoY-27.6%	-2.86B YoY+39.9%	-4.76B YoY+13.5%	-5.50B YoY-74.5%	-3.15B YoY-21.7%
Capital expenditure	3.73B YoY+28.9%	2.89B YoY-39.8%	4.81B YoY-13.1%	5.53B YoY+56.0%	3.54B YoY+33.8%
Free cash flow	2.83B YoY-36.7%	4.48B YoY+17.3%	3.81B YoY+352.6%	-1.51B YoY-129.7%	5.08B YoY-35.5%
Acquisitions	0.00	0.00	0.00	0.00	0.00
Proceeds from sale of PP&E	—	3.00M YoY-87.5%	24.0M YoY+200.0%	8.00M YoY-70.4%	27.0M YoY-35.7%
Other investing activities	-78.0M YoY-151.6%	-31.0M YoY+32.6%	-46.0M YoY-187.5%	-16.0M YoY-128.6%	-7.00M YoY+56.3%
	-2.19B YoY+38.4%	-3.55B YoY-55.4%	-2.29B YoY-4.1%	-2.20B YoY+72.8%	-8.07B YoY-303.6%
Long-term debt issued	1.98B YoY+167.7%	741M	0.00 YoY-100.0%	2.63B YoY+33.1%	1.97B YoY-20.5%
Long-term debt repaid	1.64B YoY+44.2%	1.14B YoY+674.8%	147M YoY-9.8%	163M YoY-85.8%	1.15B YoY-52.5%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	408M YoY-59.5%	1.01B	0.00 YoY-100.0%	2.65B YoY-63.2%	7.19B YoY+864.8%
Dividends paid	2.05B YoY+0.3%	2.05B YoY+1.7%	2.01B YoY+9.5%	1.84B YoY+18.6%	1.55B YoY+15.3%
Net change in cash	726M YoY-24.1%	957M YoY-39.3%	1.58B YoY+142.8%	-3.68B YoY-41.6%	-2.60B YoY-143.8%
Interest paid	629M YoY+2.3%	615M YoY+1.7%	605M YoY+34.7%	449M YoY+8.5%	414M YoY-55.9%
Income taxes paid	1.09B YoY+3.4%	1.05B YoY+182.1%	374M YoY+75.6%	213M YoY-89.7%	2.06B YoY+100.1%
Valuation Ratios	as ofJan 31 ’26	as ofFeb 1 ’25	as ofFeb 3 ’24	as ofJan 28 ’23	as ofJan 29 ’22
Market cap	47.8B YoY-24.4%	63.2B YoY-5.9%	67.2B YoY-13.4%	77.6B YoY-25.6%	104B YoY+15.0%
P/E	12.7× YoY-12.2%	14.5× YoY-21.8%	18.5× YoY-17.8%	22.5× YoY+46.3%	15.4× YoY-35.2%
P/S	0.5× YoY-22.8%	0.6× YoY-6.5%	0.6× YoY-11.9%	0.7× YoY-29.3%	1.0× YoY-1.4%
P/B	3.1× YoY-29.4%	4.4× YoY-18.7%	5.4× YoY-23.8%	7.0× YoY-6.8%	7.6× YoY+10.9%
P/FCF	15.9× YoY+14.2%	13.9× YoY-24.6%	18.4×	—	17.5× YoY+42.2%
	7.9% YoY+13.9%	6.9% YoY+27.9%	5.4% YoY+21.6%	4.4% YoY-31.6%	6.5% YoY+54.4%
	6.3% YoY-12.4%	7.2% YoY+32.7%	5.4%	—	5.7% YoY-29.7%
	4.3% YoY+33.1%	3.2% YoY+7.4%	3.0% YoY+22.5%	2.5% YoY+58.2%	1.6% YoY+4.2%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: TGT's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TGT filings on SEC EDGAR → Not investment advice.