Target Corporation (TGT) quarterly cash flow statement — complete operating, investing & financing history
Target Corporation (TGT) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 3.8B | 716M | 3.08B | 1.13B | 2.08B | 275M | 3.29B | 739M | 2.24B | 1.1B | 3.29B | 1.93B | 2.13B | 1.26B | 3.47B | 599M | 1.35B | -1.39B | 3.03B | 2.17B |
| Operating CF Margin % | 14.33% | 2.81% | 10.1% | 4.46% | 8.26% | 1.15% | 10.64% | 2.88% | 8.79% | 4.49% | 10.3% | 7.61% | 8.61% | 5% | 11.04% | 2.26% | 5.17% | -5.54% | 9.77% | 8.48% |
| Operating CF Growth % | 82.57% | 160.36% | -6.45% | 52.5% | -6.93% | -75.02% | 0% | -61.79% | 4.92% | -12.96% | -5.11% | 222.87% | 58.35% | 190.75% | 14.46% | -72.46% | -41% | -222.39% | -13.01% | 12.81% |
| Net Income | 1.88B | 781M | 1.04B | 689M | 935M | 1.04B | 1.1B | 854M | 1.19B | 942M | 1.38B | 971M | 835M | 950M | 876M | 712M | 183M | 1.01B | 1.54B | 1.49B |
| Depreciation & Amortization | 784M | 813M | 803M | 773M | 771M | 787M | 766M | 639M | 743M | 718M | 729M | 722M | 683M | 667M | 696M | 675M | 650M | 679M | 690M | 652M |
| Stock-Based Compensation | 100M | 54M | 84M | 64M | 64M | 69M | 75M | 80M | 77M | 72M | 75M | 69M | 64M | 43M | 43M | 55M | 39M | 83M | 41M | 49M |
| Deferred Taxes | 65M | 173M | -34M | -133M | 76M | 36M | -122M | -74M | -48M | 64M | 46M | 111M | 46M | 95M | 34M | 321M | 112M | 115M | 289M | 90M |
| Other Non-Cash Items | -86M | -42M | -108M | 7M | 5M | -4M | 27M | 92M | 53M | -31M | -7M | 90M | 22M | -11M | 31M | 33M | 56M | 52M | 49M | 11M |
| Working Capital Changes | 1.06B | -1.06B | 1.29B | -273M | 232M | -1.65B | 1.44B | -852M | 221M | -664M | 1.06B | -29M | 483M | -479M | 1.79B | -1.2B | 307M | -3.33B | 415M | -115M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | -932M | -13M | 2.59B | -2.02B | 167M | -308M | 2.42B | -2.56B | -874M | 156M | 2.85B | -2.05B | -68M | 883M | 3.62B | -1.8B | -237M | -1.18B | 1.06B | -3.7B |
| Change in Payables | 1.17B | -557M | -1.16B | 1.78B | 219M | -1.34B | -1.35B | 1.84B | 1.05B | -524M | -2.1B | 2.02B | 326M | -1.46B | -2.01B | 560M | 776M | -1.56B | -656M | 3.6B |
| Cash from Investing | -1.36B | -1.03B | -859M | -937M | -1.07B | -787M | -918M | -637M | -634M | -671M | -850M | -1.09B | -1.22B | -1.6B | -1.2B | -1.78B | -1.57B | -948M | -1.06B | -1.12B |
| Capital Expenditures | 1.03B | -1.03B | -790M | -978M | -1.07B | -790M | -923M | -655M | -639M | -674M | -854M | -1.13B | -1.22B | -1.6B | -1.21B | -1.8B | -1.57B | -952M | -1.06B | -1.15B |
| CapEx % of Revenue | 3.9% | 4.07% | 2.59% | 3.87% | 4.26% | 3.31% | 2.99% | 2.55% | 2.51% | 2.75% | 2.68% | 4.44% | 4.92% | 6.34% | 3.84% | 6.79% | 6.03% | 3.78% | 3.42% | 4.46% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1M | 1M | 0 | 0 | 4M | 0 | 0 | 0 | 2M | 2M | 4M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -2.4B | 2M | -69M | 41M | 8M | 3M | 1M | 0 | 4M | 0 | 4M | 38M | 1M | 3M | 4M | 15M | 1M | 4M | -3M | 27M |
| Cash from Financing | -562M | -1.64B | -552M | -709M | 437M | -1.36B | -1.04B | -166M | -1.71B | -631M | -544M | -552M | -618M | -571M | -990M | 1.02B | 228M | -2.46B | -1.81B | -2.67B |
| Debt Issued (Net) | 0 | -1.03B | -34M | -38M | 956M | -543M | -27M | 705M | -1.04B | -32M | -33M | -39M | -116M | 44M | -494M | 1.52B | 535M | 897M | 937M | -40M |
| Equity Issued (Net) | 0 | -89M | -250M | -150M | -8M | -250M | -501M | -351M | -155M | -91M | -3M | -3M | -3M | -118M | -1M | -4M | 114M | -2.76B | -2.31B | -2.19B |
| Dividends Paid | -518M | -516M | -516M | -518M | -509M | -510M | -513M | -516M | -509M | -508M | -508M | -507M | -499M | -497M | -497M | -497M | -418M | -424M | -432M | -440M |
| Share Repurchases | 89M | -89M | -250M | -150M | -8M | -250M | -501M | -351M | -158M | -91M | -3M | -3M | -3M | -118M | -1M | -4M | 114M | -2.76B | -2.31B | -2.19B |
| Other Financing | -44M | 0 | 248M | -3M | -2M | -60M | -1M | -4M | -3M | 0 | 0 | -3M | 0 | 0 | 2M | -4M | -3M | -170M | 3M | 0 |
| Net Change in Cash | 1.88B | -1.95B | 1.67B | -519M | 1.45B | -1.88B | 1.33B | -64M | -107M | -201M | -1B | 293M | 296M | -908M | 1.27B | -163M | 5M | -4.8B | 158M | -1.61B |
| Free Cash Flow | 4.84B | -319M | 2.29B | 149M | 1.01B | -515M | 2.37B | 84M | 1.6B | 427M | 2.44B | 807M | 913M | -340M | 2.26B | -1.2B | -224M | -2.35B | 1.97B | 1.03B |
| FCF Margin % | 18.23% | -1.25% | 7.51% | 0.59% | 4% | -2.16% | 7.65% | 0.33% | 6.28% | 1.74% | 7.63% | 3.18% | 3.69% | -1.34% | 7.2% | -4.53% | -0.86% | -9.32% | 6.35% | 4.02% |
| FCF Growth % | 379.48% | 38.06% | -3.34% | 77.38% | -36.9% | -220.61% | -2.83% | -89.59% | 75.14% | 225.59% | 7.7% | 167.19% | 507.59% | 85.51% | 14.95% | -216.6% | -115.08% | -491.65% | -30.76% | -22.73% |
| FCF per Share | 10.60 | -0.70 | 5.03 | 0.33 | 2.21 | -1.13 | 5.16 | 0.18 | 3.45 | 0.92 | 5.26 | 1.74 | 1.97 | -0.73 | 4.89 | -2.60 | -0.48 | -5.01 | 4.09 | 2.10 |
| FCF Conversion (FCF/Net Income) | 2.03x | 0.92x | 2.94x | 1.64x | 2.23x | 0.27x | 2.98x | 0.87x | 1.88x | 1.17x | 2.38x | 1.99x | 2.55x | 1.33x | 3.96x | 0.84x | 7.36x | -1.38x | 1.96x | 1.46x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |