30 years of historical data (1995–2024) · Consumer Defensive · Discount Stores
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Target Corporation trades at 12.8x earnings, 33% below its 5-year average of 19.3x, sitting at the 7th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 21.6x, the stock trades at a discount of 40%. On a free-cash-flow basis, the stock trades at 11.6x P/FCF, 28% below the 5-year average of 16.0x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $51.8B | $63.7B | $64.4B | $80.0B | $108.6B | $91.6B | $57.1B | $38.9B | $41.4B | $37.6B | $45.8B |
| Enterprise Value | $70.8B | $82.7B | $80.2B | $96.8B | $119.2B | $98.2B | $71.8B | $50.8B | $52.3B | $47.8B | $54.5B |
| P/E Ratio → | 12.84 | 15.57 | 15.56 | 28.79 | 15.63 | 20.97 | 17.41 | 13.25 | 14.22 | 13.72 | 13.64 |
| P/S Ratio | 0.49 | 0.60 | 0.60 | 0.73 | 1.02 | 0.98 | 0.73 | 0.52 | 0.57 | 0.54 | 0.62 |
| P/B Ratio | 3.58 | 4.34 | 4.79 | 7.12 | 8.47 | 6.34 | 4.83 | 3.45 | 3.56 | 3.43 | 3.54 |
| P/FCF | 11.58 | 14.23 | 16.87 | — | 21.37 | 11.63 | 13.96 | 15.84 | 9.44 | 9.66 | 10.40 |
| P/OCF | 7.04 | 8.64 | 7.47 | 19.91 | 12.59 | 8.70 | 8.02 | 6.52 | 5.99 | 6.91 | 7.84 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Target Corporation's enterprise value stands at 8.2x EBITDA, 24% below its 5-year average of 10.9x. The Consumer Defensive sector median is 12.3x, placing the stock at a 33% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.78 | 0.75 | 0.89 | 1.12 | 1.05 | 0.92 | 0.67 | 0.72 | 0.69 | 0.74 |
| EV / EBITDA | 8.22 | 9.60 | 9.32 | 14.64 | 10.21 | 10.54 | 9.86 | 7.61 | 7.70 | 7.16 | 7.04 |
| EV / EBIT | 12.57 | 14.52 | 13.77 | 24.83 | 12.77 | 16.33 | 15.42 | 12.29 | 12.54 | 10.45 | 10.69 |
| EV / FCF | — | 18.47 | 21.02 | — | 23.45 | 12.46 | 17.57 | 20.68 | 11.90 | 12.29 | 12.38 |
Margins and return-on-capital ratios measuring operating efficiency
Target Corporation earns an operating margin of 5.3%, above the Consumer Defensive sector average of 1.1%. Operating margins have expanded from 3.6% to 5.3% over the past 3 years, signaling improving operational efficiency. ROE of 29.1% indicates solid capital efficiency, compared to the sector median of 7.8%. ROIC of 13.4% represents solid returns on invested capital versus a sector median of 5.7%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.8% | 25.8% | 25.4% | 22.5% | 27.1% | 27.1% | 26.7% | 26.3% | 26.6% | 26.4% | 29.2% |
| Operating Margin | 5.3% | 5.3% | 5.4% | 3.6% | 8.5% | 7.3% | 6.0% | 5.6% | 5.9% | 6.3% | 7.5% |
| Net Profit Margin | 3.8% | 3.8% | 3.9% | 2.5% | 6.6% | 4.7% | 4.2% | 3.9% | 4.0% | 3.9% | 4.6% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 29.1% | 29.1% | 33.6% | 23.1% | 50.9% | 33.3% | 28.4% | 25.6% | 25.8% | 22.9% | 25.0% |
| ROA | 7.2% | 7.2% | 7.6% | 5.2% | 13.2% | 9.3% | 7.8% | 7.2% | 7.5% | 7.0% | 8.3% |
| ROIC | 13.4% | 13.4% | 15.2% | 11.4% | 30.5% | 21.5% | 14.1% | 13.8% | 14.8% | 15.3% | 18.0% |
| ROCE | 15.4% | 15.4% | 16.6% | 11.9% | 28.6% | 23.0% | 17.2% | 15.7% | 16.6% | 16.7% | 19.4% |
Solvency and debt-coverage ratios — lower is generally safer
Target Corporation carries a Debt/EBITDA ratio of 2.3x, which is manageable (29% below the sector average of 3.2x). Net debt stands at $19.0B ($19.9B total debt minus $869M cash). Interest coverage of 13.7x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.36 | 1.36 | 1.46 | 1.70 | 1.28 | 1.05 | 1.31 | 1.19 | 1.16 | 1.16 | 0.98 |
| Debt / EBITDA | 2.31 | 2.31 | 2.28 | 2.88 | 1.41 | 1.62 | 2.13 | 2.01 | 1.98 | 1.91 | 1.65 |
| Net Debt / Equity | — | 1.30 | 1.18 | 1.50 | 0.82 | 0.46 | 1.25 | 1.05 | 0.93 | 0.93 | 0.67 |
| Net Debt / EBITDA | 2.21 | 2.21 | 1.84 | 2.55 | 0.90 | 0.71 | 2.02 | 1.78 | 1.59 | 1.53 | 1.13 |
| Debt / FCF | — | 4.25 | 4.15 | — | 2.08 | 0.84 | 3.61 | 4.84 | 2.47 | 2.63 | 1.98 |
| Interest Coverage | 13.71 | 13.71 | 11.57 | 8.19 | 21.46 | 6.99 | 9.81 | 9.11 | 6.61 | 4.42 | 9.11 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.94x is below 1.0, meaning current liabilities exceed current assets. The quick ratio of 0.32x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.94 | 0.94 | 0.91 | 0.92 | 0.99 | 1.03 | 0.89 | 0.83 | 0.96 | 0.94 | 1.12 |
| Quick Ratio | 0.32 | 0.32 | 0.29 | 0.22 | 0.35 | 0.50 | 0.27 | 0.20 | 0.30 | 0.29 | 0.44 |
| Cash Ratio | 0.23 | 0.23 | 0.20 | 0.11 | 0.27 | 0.42 | 0.18 | 0.10 | 0.20 | 0.20 | 0.32 |
| Asset Turnover | — | 1.84 | 1.94 | 2.05 | 1.97 | 1.83 | 1.83 | 1.83 | 1.80 | 1.86 | 1.83 |
| Inventory Turnover | 6.20 | 6.20 | 6.74 | 6.27 | 5.56 | 6.40 | 6.36 | 5.85 | 6.21 | 6.16 | 6.07 |
| Days Sales Outstanding | — | 5.28 | 4.77 | 5.67 | 4.66 | 4.43 | 4.50 | 5.33 | 4.66 | 3.93 | 3.85 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Target Corporation returns 5.8% to shareholders annually — split between a 3.9% dividend yield and 1.9% buyback yield. A payout ratio of 50.0% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 7.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.9% | 3.2% | 3.1% | 2.3% | 1.4% | 1.5% | 2.3% | 3.4% | 3.2% | 3.6% | 3.0% |
| Payout Ratio | 50.0% | 50.0% | 48.6% | 66.0% | 22.3% | 30.7% | 40.5% | 45.5% | 45.9% | 49.3% | 40.5% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.8% | 6.4% | 6.4% | 3.5% | 6.4% | 4.8% | 5.7% | 7.5% | 7.0% | 7.3% | 7.3% |
| FCF Yield | 8.6% | 7.0% | 5.9% | — | 4.7% | 8.6% | 7.2% | 6.3% | 10.6% | 10.4% | 9.6% |
| Buyback Yield | 1.9% | 1.6% | 0.2% | 3.3% | 6.6% | 0.8% | 2.7% | 5.5% | 2.5% | 9.9% | 7.6% |
| Total Shareholder Yield | 5.8% | 4.8% | 3.3% | 5.6% | 8.0% | 2.3% | 5.1% | 8.9% | 5.8% | 13.5% | 10.6% |
| Shares Outstanding | — | $462M | $463M | $465M | $493M | $505M | $516M | $533M | $551M | $583M | $633M |
Compare TGT with 4 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| TGTYou | $52B | 12.8 | 8.2 | 11.6 | 25.8% | 5.3% | 29.1% | 13.4% | 2.3 |
| WMT | $1.0T | 46.9 | 24.4 | 24.5 | 24.9% | 4.2% | 22.2% | 14.7% | 1.5 |
| COST | $448B | 55.5 | 34.5 | 57.2 | 12.8% | 3.8% | 30.7% | 34.5% | 0.6 |
| BJ | $13B | 24.7 | 15.3 | 41.6 | 18.4% | 3.8% | 32.3% | 12.8% | 2.7 |
| PSMT | $5B | 32.1 | 15.9 | 49.2 | 17.4% | 4.5% | 12.2% | 13.8% | 1.0 |
| Consumer Defensive Median | — | 21.6 | 12.3 | 16.4 | 40.7% | 1.1% | 7.8% | 5.7% | 3.2 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonTarget Corporation's current P/E ratio is 12.8x. The historical average is 18.8x. This places it at the 7th percentile of its historical range.
Target Corporation's current EV/EBITDA is 8.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.3x.
Target Corporation's return on equity (ROE) is 29.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 20.8%.
Based on historical data, Target Corporation is trading at a P/E of 12.8x. This is at the 7th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Target Corporation's current dividend yield is 3.89% with a payout ratio of 50.0%.
Target Corporation has 25.8% gross margin and 5.3% operating margin.
Target Corporation's Debt/EBITDA ratio is 2.3x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.