The TJX Companies, Inc.TJX
NYSE•Consumer Cyclical•Apparel Retail
The TJX Companies, Inc., together with its subsidiaries, operates as an off-price apparel and home fashions retailer worldwide. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company provides family apparel comprising footwear; accessories, such as beauty and jewelry; home fashion products, including home basics, decorative accessories and giftware, as well as furniture, rugs, lighting, soft home, decorative accessories, tabletop, and cookware; pet and gourmet food; and other merchandise. It also offers home decor, furniture, and seasonal home merchandise. The company sells its products through stores and e-commerce sites. The TJX Companies, Inc. was incorporated in 1962 and is headquartered in Framingham, Massachusetts.
TJX Companies, Inc. (The) (TJX) reported trailing twelve months revenue of $61.58B as of May 2026, a 8.1% increase year-over-year. Quarterly revenue reached $14.32B, reflecting continued top-line momentum.
TJX Companies, Inc. (The) generated $5.79B in TTM net income, with quarterly EBITDA of $2.02B. The operating margin expanded from 10.0% to 11.8%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (11.8%) and net margin (9.3%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 7.9% a year ago, signaling stronger bottom-line efficiency.
TJX trades at a P/E of 31.8x (a premium multiple) and a P/S of 3.0x. The price-to-book ratio of 17.7x indicates a significant premium over book value.
The company generated $457.00M in free cash flow over the trailing twelve months, a 543.7% increase year-over-year, indicating cash generation ability. The balance sheet shows $36.16B in total assets with $1.87B in long-term debt against $10.40B in stockholders equity for a debt-to-equity ratio of 0.2, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~11.6%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 57.0% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~10.7% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~12.2% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.1% — net buybacks are reducing shares outstanding and boosting per-share value.