Target CorporationTGT
NYSE•Consumer Defensive•Discount Stores
Target Corporation operates as a general merchandise retailer in the United States. It offers apparel for women, men, young adults, kids, toddlers, and babies, as well as jewelry, accessories, and shoes; and beauty products, such as skin and bath care, cosmetics, hair care, oral care, deodorant, and shaving products. The company also provides food and beverage products comprising dry and perishable grocery, including snacks, candy, beverages, deli, bakery, meat, produce, and food service; electronics which includes video games and consoles, toys, sporting goods, entertainment, and luggage; bed and bath, home décor, school/office supplies, storage, small appliances, kitchenware, greeting cards, party supplies, furniture, lighting, home improvement, and seasonal merchandise; and household essentials, such as household cleaning, paper products, over-the-counter healthcare, vitamins and supplements, baby gear, and pet supplies. In addition, it sells merchandise through periodic design and creative partnerships, and shop-in-shop experience; and in-store amenities. The company sells its products through its stores; and digital channels, including Target.com. Target Corporation was incorporated in 1902 and is headquartered in Minneapolis, Minnesota.
Target Corporation (TGT) reported trailing twelve months revenue of $106.38B as of May 2026, a 0.5% increase year-over-year. Quarterly revenue reached $25.44B, reflecting continued top-line momentum.
Target Corporation generated $3.45B in TTM net income, with quarterly EBITDA of $1.82B. The operating margin contracted from 6.2% to 4.5%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (4.5%) and net margin (3.1%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 4.3% a year ago, reflecting increased costs or interest expense.
TGT trades at a P/E of 17.0x (in line with broad market averages) and a P/S of 0.5x. The price-to-book ratio of 3.6x reflects a moderate premium to book value.
The company reported negative free cash flow of $-319.00M, indicating cash consumption over the period. The balance sheet shows $58.01B in total assets with $14.28B in long-term debt against $16.39B in stockholders equity for a debt-to-equity ratio of 0.9. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~5.0% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 26.7% suggests a durable competitive advantage and efficient capital allocation.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has grown modestly overall (~0.8%) but trajectory is uneven, suggesting a competitive or cyclical business.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 17.9% — watch for continued compression, which may signal competitive or cost pressure.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.9 — conservative capital structure with low financial risk.
Revenue has softened, declining in 4 quarters. Monitor for further erosion.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation