Target Corporation (TGT) Financial Ratios
30 years of historical data (1996–2025) · Consumer Defensive · Discount Stores
EV/EBITDA
↓
7.51
↓-25% vs avg
5yr avg: 9.95
30Y Low6.1·High21.1
P/FCF
↓
20.93
+20% vs avg
5yr avg: 17.48
30Y Low9.2·High88.2
P/B Ratio
↓
3.67
↓-34% vs avg
5yr avg: 5.53
30Y Low1.8·High8.4
ROE
↓
24.0%
↑-25% vs avg
5yr avg: 32.2%
30Y Low-11%·High51%
Debt/EBITDA
↓
0.71
↓-64% vs avg
5yr avg: 1.93
30Y Low0.7·High6.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TGT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Target Corporation trades at 16.0x earnings, 9% below its 5-year average of 17.7x, sitting at the 48th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 19.6x, the stock trades at a discount of 18%. On a free-cash-flow basis, the stock trades at 20.9x P/FCF, 20% above the 5-year average of 17.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $59.3B | $48.1B | $63.7B | $67.3B | $78.3B | $107.2B | $91.6B | $57.1B | $37.9B | $40.2B | $37.1B |
| Enterprise Value | $59.4B | $48.2B | $78.8B | $83.2B | $95.2B | $117.8B | $98.2B | $71.8B | $49.8B | $51.0B | $47.3B |
| P/E Ratio → | 16.02 | 12.97 | 15.57 | 16.27 | 28.18 | 15.44 | 20.97 | 17.41 | 12.92 | 13.79 | 13.55 |
| P/S Ratio | 0.57 | 0.46 | 0.60 | 0.63 | 0.72 | 1.01 | 0.98 | 0.73 | 0.50 | 0.55 | 0.53 |
| P/B Ratio | 3.67 | 2.97 | 4.34 | 5.01 | 6.97 | 8.36 | 6.34 | 4.83 | 3.36 | 3.45 | 3.39 |
| P/FCF | 20.93 | 16.95 | 14.23 | 17.65 | — | 21.11 | 11.63 | 13.96 | 15.44 | 9.15 | 9.54 |
| P/OCF | 9.04 | 7.32 | 8.64 | 7.81 | 19.49 | 12.43 | 8.70 | 8.02 | 6.35 | 5.80 | 6.83 |
P/E links to full P/E history page with 30-year chart
TGT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Target Corporation's enterprise value stands at 7.5x EBITDA, 25% below its 5-year average of 10.0x. The Consumer Defensive sector median is 11.5x, placing the stock at a 35% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.46 | 0.74 | 0.77 | 0.87 | 1.11 | 1.05 | 0.92 | 0.66 | 0.70 | 0.67 |
| EV / EBITDA | 7.51 | 6.08 | 9.22 | 9.78 | 14.53 | 10.17 | 10.88 | 9.89 | 7.57 | 7.61 | 6.59 |
| EV / EBIT | 11.61 | 9.24 | 13.89 | 14.34 | 24.42 | 12.63 | 15.05 | 15.40 | 12.05 | 11.91 | 9.56 |
| EV / FCF | — | 16.99 | 17.60 | 21.80 | — | 23.18 | 12.46 | 17.57 | 20.28 | 11.62 | 12.17 |
TGT Profitability
Margins and return-on-capital ratios measuring operating efficiency
Target Corporation earns an operating margin of 4.9%, above the Consumer Defensive sector average of 1.5%. ROE of 24.0% indicates solid capital efficiency, compared to the sector median of 7.7%. ROIC of 16.7% represents solid returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.9% | 27.9% | 28.2% | 27.5% | 24.6% | 29.3% | 29.3% | 29.8% | 29.3% | 29.7% | 30.1% |
| Operating Margin | 4.9% | 4.9% | 5.2% | 5.3% | 3.5% | 8.4% | 7.0% | 6.0% | 5.5% | 5.8% | 6.9% |
| Net Profit Margin | 3.5% | 3.5% | 3.8% | 3.9% | 2.5% | 6.6% | 4.7% | 4.2% | 3.9% | 4.0% | 3.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 24.0% | 24.0% | 29.1% | 33.6% | 23.1% | 50.9% | 33.3% | 28.4% | 25.6% | 25.8% | 22.9% |
| ROA | 6.3% | 6.3% | 7.2% | 7.6% | 5.2% | 13.2% | 9.3% | 7.8% | 7.2% | 7.5% | 7.0% |
| ROIC | 16.7% | 16.7% | 14.1% | 14.9% | 11.2% | 30.2% | 20.6% | 14.0% | 13.5% | 14.5% | 17.0% |
| ROCE | 13.6% | 13.6% | 15.2% | 16.3% | 11.7% | 28.3% | 22.0% | 17.1% | 15.4% | 16.3% | 18.6% |
TGT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Target Corporation carries a Debt/EBITDA ratio of 0.7x, which is very conservative (79% below the sector average of 3.4x). Net debt stands at $104M ($5.6B total debt minus $5.5B cash). Interest coverage of 11.5x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.35 | 0.35 | 1.36 | 1.46 | 1.70 | 1.28 | 1.05 | 1.31 | 1.19 | 1.16 | 1.16 |
| Debt / EBITDA | 0.71 | 0.71 | 2.33 | 2.31 | 2.91 | 1.42 | 1.67 | 2.14 | 2.04 | 2.01 | 1.78 |
| Net Debt / Equity | — | 0.01 | 1.03 | 1.18 | 1.50 | 0.82 | 0.46 | 1.25 | 1.05 | 0.93 | 0.93 |
| Net Debt / EBITDA | 0.01 | 0.01 | 1.77 | 1.86 | 2.57 | 0.91 | 0.73 | 2.03 | 1.81 | 1.62 | 1.43 |
| Debt / FCF | — | 0.04 | 3.38 | 4.15 | — | 2.08 | 0.84 | 3.61 | 4.84 | 2.47 | 2.63 |
| Interest Coverage | 11.50 | 11.50 | 13.54 | 11.37 | 8.05 | 21.25 | 6.69 | 9.77 | 8.92 | 6.47 | 4.91 |
TGT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.94x is below 1.0, meaning current liabilities exceed current assets — though the company's $5.5B cash position helps mitigate short-term liquidity concerns. The quick ratio of 0.36x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.94 | 0.94 | 0.94 | 0.91 | 0.92 | 0.99 | 1.03 | 0.89 | 0.83 | 0.96 | 0.94 |
| Quick Ratio | 0.36 | 0.36 | 0.32 | 0.29 | 0.22 | 0.35 | 0.50 | 0.27 | 0.20 | 0.30 | 0.29 |
| Cash Ratio | 0.26 | 0.26 | 0.23 | 0.20 | 0.11 | 0.27 | 0.42 | 0.18 | 0.10 | 0.20 | 0.20 |
| Asset Turnover | — | 1.76 | 1.84 | 1.94 | 2.05 | 1.97 | 1.83 | 1.83 | 1.83 | 1.80 | 1.88 |
| Inventory Turnover | 6.14 | 6.14 | 6.00 | 6.55 | 6.10 | 5.39 | 6.21 | 6.10 | 5.61 | 5.95 | 5.91 |
| Days Sales Outstanding | — | — | 5.28 | 4.77 | 5.67 | 4.66 | 4.43 | 4.50 | 5.33 | 4.66 | 3.89 |
TGT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Target Corporation returns 4.1% to shareholders annually — split between a 3.5% dividend yield and 0.7% buyback yield. A payout ratio of 55.4% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 6.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.5% | 4.3% | 3.2% | 3.0% | 2.3% | 1.4% | 1.5% | 2.3% | 3.5% | 3.3% | 3.6% |
| Payout Ratio | 55.4% | 55.4% | 50.0% | 48.6% | 66.0% | 22.3% | 30.7% | 40.5% | 45.5% | 45.9% | 49.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.2% | 7.7% | 6.4% | 6.1% | 3.5% | 6.5% | 4.8% | 5.7% | 7.7% | 7.3% | 7.4% |
| FCF Yield | 4.8% | 5.9% | 7.0% | 5.7% | — | 4.7% | 8.6% | 7.2% | 6.5% | 10.9% | 10.5% |
| Buyback Yield | 0.7% | 0.8% | 1.6% | 0.2% | 3.4% | 6.7% | 0.8% | 2.7% | 5.6% | 2.6% | 10.0% |
| Total Shareholder Yield | 4.1% | 5.1% | 4.8% | 3.2% | 5.7% | 8.1% | 2.3% | 5.1% | 9.1% | 5.9% | 13.6% |
| Shares Outstanding | — | $456M | $462M | $463M | $465M | $493M | $505M | $516M | $533M | $551M | $583M |
Peer Comparison
Compare TGT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TGTYou | $59B | 16.0 | 7.5 | 20.9 | 27.9% | 4.9% | 24.0% | 16.7% | 0.7 |
 WMT | $1.0T | 47.6 | 24.8 | 24.9 | 24.9% | 4.2% | 22.2% | 14.7% | 1.5 |
 COST | $441B | 54.7 | 34.0 | 56.3 | 12.8% | 3.8% | 30.7% | 34.5% | 0.6 |
 KR | $42B | 42.9 | 10.9 | 12.5 | 21.0% | 1.3% | 14.3% | 5.0% | 4.2 |
 DG | $26B | 17.0 | 12.4 | 10.7 | 30.7% | 5.2% | 19.0% | 7.0% | 4.8 |
 DLTR | $19B | 16.2 | 10.3 | 18.1 | 36.4% | 8.2% | 33.2% | 13.2% | 2.1 |
 BJ | $14B | 21.1 | 14.5 | 41.8 | 18.6% | 3.9% | 28.6% | 13.5% | 2.3 |
 AMZN | $3.0T | 38.3 | 20.7 | 384.3 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 M | $6B | 8.5 | 4.9 | 5.2 | 36.5% | 4.6% | 13.6% | 8.7% | 2.7 |
 KSS | $2B | 6.1 | 2.8 | 1.5 | 36.1% | 3.3% | 6.9% | 4.6% | 2.0 |
 BBY | $12B | 11.6 | 6.6 | 9.8 | 22.5% | 3.3% | 33.9% | 18.7% | 1.9 |
| Consumer Defensive Median | — | 19.6 | 11.5 | 14.8 | 40.2% | 1.5% | 7.7% | 5.5% | 3.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Full TGT Stock Analysis
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Start ComparisonTGT — Frequently Asked Questions
Quick answers to the most common questions about buying TGT stock.
What is Target Corporation's P/E ratio?
Target Corporation's current P/E ratio is 16.0x. The historical average is 18.4x. This places it at the 48th percentile of its historical range.
What is Target Corporation's EV/EBITDA?
Target Corporation's current EV/EBITDA is 7.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.2x.
What is Target Corporation's ROE?
Target Corporation's return on equity (ROE) is 24.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 21.3%.
Is TGT stock overvalued?
Based on historical data, Target Corporation is trading at a P/E of 16.0x. This is at the 48th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Target Corporation's dividend yield?
Target Corporation's current dividend yield is 3.46% with a payout ratio of 55.4%.
What are Target Corporation's profit margins?
Target Corporation has 27.9% gross margin and 4.9% operating margin.
How much debt does Target Corporation have?
Target Corporation's Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.