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NYSE · Consumer Staples

Target Corp. (TGT)

As-reported financials and SEC filings for Target Corp. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Target Corp.

Target Corporation operates retail stores and digital channels offering a wide range of general merchandise and groceries. It serves customers across the United States, providing products through physical stores and online platforms, including owned brands and national brands. The company also generates revenue from advertising services, credit card profit-sharing, and third-party marketplace sales.

Snapshot

Revenue
$104.78B
Revenue growth (YoY)
-1.7%
Net income
$3.71B
Diluted EPS
$8.13
Gross margin
27.9%
Operating margin
4.9%
Net margin
3.5%
FCF margin
2.7%
ROE
22.9%
net income / fiscal-year-end equity
P/E
15.9×
trailing when available, otherwise FY EPS
Market cap
$69.40B
Long-term debt / equity
0.89×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended January 31, 2026). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Target

  • Revenue fell 1.7% to $104.8B in FY2025, after a 0.8% decline the year before.
  • Operating margin is 4.9% in FY2025, -3.6 pp against 8.4% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $26.5B, up 5.3% from Q2 FY2025.
  • Free cash flow was $2.8B in FY2025, 2.7% of revenue.
  • Net income fell 9.4% to $3.7B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Target’s fundamentals sit among the 131 Consumer Staples companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin27.9%
39th percentile of 113
Operating margin4.9%
54th percentile of 117
Net margin3.5%
57th percentile of 121
FCF margin2.7%
45th percentile of 114
Revenue growth (YoY)-1.7%
29th percentile of 127
ROE22.9%
87th percentile of 114
P/E15.9×
29th percentile of 77
Long-term debt / equity0.89×
72nd percentile of 82
Short interest4.87d
67th percentile of 128

Target’s return on equity of 22.9% ranks in the 87th percentile of the 114 Consumer Staples companies reporting it.

No reported insider purchases (code P) in the last 90 days; 3 insider sales totaling $11.0M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+6 quant / multi-strat
Initiated / added
4
1 new, 3 added
Reduced / exited
7
5 trimmed, 2 exited
Combined position
$1.18B
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$427.0M3.3MAdded
D. E. ShawquantQ2 2026$401.6M3.1MReduced
Citadel AdvisorsquantQ2 2026$164.9M1.3MReduced
Renaissance TechnologiesquantQ2 2026$94.8M725.6KAdded
Millennium ManagementquantQ2 2026$48.0M367.2KReduced
Gotham Asset ManagementQ2 2026$24.2M185.6KAdded
Dodge & CoxQ2 2026$12.5M95.6KReduced
Bridgewater AssociatesQ2 2026$3.4M25.9KReduced
Two Sigma InvestmentsquantQ2 2026$1.8M13.6KNew

No longer held by: Maverick Capital (as of Q2 2026), Point72 Asset Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
3
$11.0M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-25
filed 2026-08-27
Brian C. CornellExecutive OfficerSell50.0K$163.56$8.2M
2026-08-24
filed 2026-08-26
Melissa K. KremerExecutive OfficerSell15.5K$169.96$2.6M
2026-08-21
filed 2026-08-24
Matthew A. LiegelChief Accounting OfficerSell926$163.51$151K
2026-06-29
filed 2026-06-30
Lisa R. RoathExecutive OfficerSell7.0K$138.07$966K
2026-05-29
filed 2026-06-01
Cara A. SylvesterExecutive OfficerSell10.0K$125.89$1.3M
2026-05-27
filed 2026-05-28
Brian C. CornellExecutive OfficerSell49.0K$129.84$6.4M
2026-05-27
filed 2026-05-28
Brian C. CornellExecutive OfficerSell1.0K$130.55$131K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
17.3M
settled 2026-09-30
Change vs prior
+2.8%
vs previous settlement
Days to cover
4.87
at avg daily volume
Avg daily volume
3.5M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3017.3M+2.8%4.87
2026-09-1516.8M+6.0%5.51
2026-08-3115.8M+15.3%2.69
2026-08-1413.7M-18.0%3.53
2026-07-3116.7M-16.7%5.01
2026-07-1520.1M+7.7%4.67
2026-06-3018.7M-5.2%3.63
2026-06-1519.7M+25.9%4.50

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$104.78B$106.57B$107.41B$109.12B$106.00B
Gross profit
Operating income$5.12B$5.57B$5.71B$3.85B$8.95B
Pre-tax income$4.77B$5.26B$5.30B$3.42B$8.91B
Net income$3.71B$4.09B$4.14B$2.78B$6.95B
Diluted EPS$8.13$8.86$8.94$5.98$14.10

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$5.49B$4.76B$3.81B$2.23B$5.91B
Current assets$20.00B$19.45B$17.50B$17.85B$21.57B
Total assets$59.49B$57.77B$55.36B$53.34B$53.81B
Current liabilities$21.23B$20.80B$19.30B$19.50B$21.75B
Long-term debt$14.33B$14.30B$14.92B$16.01B$13.55B
Total liabilities
Total equity$16.16B$14.67B$13.43B$11.23B$12.83B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$6.56B$7.37B$8.62B$4.02B$8.63B
Capital expenditure$3.73B$2.89B$4.81B$5.53B$3.54B
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$26.54B5.3%$1.88B$4.11
Q1 FY2026$25.44B6.7%$781.0M$1.71
Q4 FY2025——$1.05B—
Q3 FY2025$25.27B-1.6%$689.0M$1.51
Q2 FY2025$25.21B-0.9%$935.0M$2.05
Q1 FY2025$23.85B-2.8%$1.04B$2.27
Q4 FY2024——$1.10B—
Q3 FY2024$25.67B1.1%$854.0M$1.85

Latest 8 quarters, from company XBRL filings on SEC EDGAR. Revenue YoY is our calculation: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorConsumer Staples
SIC industryRetail-Variety Stores
Latest annual periodFY2025 (ended January 31, 2026)
Latest reported quarterQ2 FY2026 (ended August 1, 2026)
Oldest indexed filing2016
SEC CIK27419

Selected SEC filings

10-K2026-03-11
View on EDGAR →
10-K2025-03-12
View on EDGAR →
10-Q2026-08-28
View on EDGAR →
10-Q2026-05-29
View on EDGAR →
10-Q2025-11-26
View on EDGAR →
10-Q2025-08-29
View on EDGAR →
8-K2026-08-19
View on EDGAR →
8-K2026-08-14
View on EDGAR →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.