Target Corporation (TGT) quarterly income statement — complete revenue, gross profit & net income history
Target Corporation (TGT) annual income statement — 30-year revenue, gross profit & net income history
| 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 |
|---|
| Sales/Revenue | 26.54B | 25.44B | 30.45B | 25.27B | 25.21B | 23.85B | 30.91B | 25.67B | 25.45B | 24.53B | 31.92B | 25.4B | 24.77B | 25.32B | 31.39B | 26.52B | 26.04B | 25.17B | 31B | 25.65B |
| Revenue Growth % | 5.27% | 6.7% | -1.49% | -1.55% | -0.95% | -2.79% | -3.15% | 1.06% | 2.74% | -3.12% | 1.67% | -4.22% | -4.85% | 0.6% | 1.29% | 3.38% | 3.49% | 4.02% | 9.38% | 13.34% |
| Cost of Goods Sold | 17.6B | 18.06B | 22.34B | 18.14B | 17.9B | 17.13B | 22.88B | 18.4B | 17.83B | 17.45B | 23.4B | 18.15B | 17.8B | 18.39B | 23.95B | 19.68B | 20.14B | 18.46B | 22.76B | 18.21B |
| COGS % of Revenue | 66.33% | 70.99% | 73.37% | 71.77% | 71.01% | 71.83% | 74.01% | 71.69% | 70.04% | 71.13% | 73.32% | 71.46% | 71.84% | 72.61% | 76.27% | 74.21% | 77.36% | 73.35% | 73.43% | 70.97% |
| Gross Profit | 8.94B | 7.38B | 8.11B | 7.13B | 7.31B | 6.72B | 8.04B | 7.27B | 7.63B | 7.08B | 8.52B | 7.25B | 6.97B | 6.94B | 7.45B | 6.84B | 5.89B | 6.71B | 8.23B | 7.45B |
| Gross Margin % | 33.67% | 29.01% | 26.63% | 28.23% | 28.99% | 28.17% | 25.99% | 28.31% | 29.96% | 28.87% | 26.68% | 28.54% | 28.16% | 27.39% | 23.73% | 25.79% | 22.64% | 26.65% | 26.57% | 29.03% |
| Gross Profit Growth % | 22.28% | 9.88% | 0.92% | -1.83% | -4.17% | -5.14% | -5.64% | 0.23% | 9.33% | 2.1% | 14.32% | 6.01% | 18.32% | 3.38% | -9.54% | -8.17% | -25.19% | -10.32% | 4.85% | 4.53% |
| Operating Expenses | 6.38B | 6.25B | 6.73B | 6.18B | 5.99B | 5.25B | 6.57B | 6.1B | 5.99B | 5.79B | 6.65B | 5.93B | 5.78B | 5.61B | 6.29B | 5.82B | 5.57B | 5.36B | 6.14B | 5.44B |
| OpEx % of Revenue | 24.02% | 24.55% | 22.1% | 24.48% | 23.76% | 22% | 21.25% | 23.76% | 23.54% | 23.59% | 20.84% | 23.36% | 23.32% | 22.15% | 20.04% | 21.93% | 21.41% | 21.31% | 19.81% | 21.19% |
| Selling, General & Admin | 5.72B | 5.56B | 6.05B | 5.54B | 5.36B | 4.59B | 5.92B | 5.46B | 5.37B | 5.17B | 6.03B | 5.32B | 5.18B | 5.03B | 5.67B | 5.22B | 5B | 4.76B | 5.54B | 4.86B |
| SG&A % of Revenue | 21.57% | 21.86% | 19.86% | 21.91% | 21.26% | 19.25% | 19.16% | 21.27% | 21.08% | 21.07% | 18.89% | 20.93% | 20.93% | 19.84% | 18.08% | 19.68% | 19.21% | 18.92% | 17.86% | 18.94% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 2.56B | 1.14B | 1.38B | 948M | 1.32B | 1.47B | 1.47B | 1.17B | 1.64B | 1.3B | 1.86B | 1.32B | 1.2B | 1.33B | 1.16B | 1.02B | 321M | 1.35B | 2.1B | 2.01B |
| Operating Margin % | 9.65% | 4.46% | 4.53% | 3.75% | 5.22% | 6.17% | 4.75% | 4.55% | 6.42% | 5.28% | 5.84% | 5.19% | 4.83% | 5.24% | 3.69% | 3.85% | 1.23% | 5.35% | 6.76% | 7.84% |
| Operating Income Growth % | 94.38% | -22.89% | -5.93% | -18.84% | -19.45% | 13.58% | -21.34% | -11.31% | 36.59% | -2.41% | 60.91% | 28.87% | 272.9% | -1.34% | -44.68% | -49.15% | -86.99% | -43.3% | 14.11% | 3.88% |
| EBITDA | 2.56B | 1.95B | 2.18B | 1.72B | 2.09B | 2.26B | 2.23B | 1.92B | 2.38B | 2.01B | 2.59B | 2.04B | 1.88B | 2B | 1.85B | 1.7B | 971M | 2.02B | 2.79B | 2.66B |
| EBITDA Margin % | 9.63% | 7.66% | 7.17% | 6.81% | 8.28% | 9.47% | 7.22% | 7.49% | 9.34% | 8.21% | 8.13% | 8.03% | 7.59% | 7.88% | 5.91% | 6.4% | 3.73% | 8.05% | 8.98% | 10.38% |
| EBITDA Growth % | 22.46% | -13.77% | -2.24% | -10.46% | -12.2% | 12.16% | -13.92% | -5.74% | 26.49% | 0.95% | 39.84% | 20.15% | 93.61% | -1.48% | -33.39% | -36.25% | -68.68% | -33.41% | 12.62% | 4.89% |
| D&A (Non-Cash Add-back) | 0 | 813M | 803M | 773M | 771M | 787M | 766M | 754M | 743M | 718M | 729M | 722M | 683M | 667M | 696M | 675M | 650M | 679M | 690M | 652M |
| EBIT | 2.56B | 1.15B | 1.41B | 974M | 1.33B | 1.5B | 1.5B | 1.2B | 1.66B | 1.32B | 1.89B | 1.34B | 1.21B | 1.35B | 1.17B | 1.03B | 329M | 1.36B | 2.12B | 2.02B |
| Net Interest Income | -98M | -117M | -99M | -115M | -116M | -116M | -90M | -105M | -110M | -106M | -107M | -107M | -141M | -147M | -129M | -125M | -112M | -112M | -104M | -105M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 98M | 117M | 99M | 115M | 116M | 116M | 90M | 105M | 110M | 106M | 107M | 107M | 141M | 147M | 129M | 125M | 112M | 112M | 104M | 105M |
| Other Income/Expense | -101M | -102M | -72M | -89M | -99M | -90M | -61M | -77M | -90M | -77M | -79M | -82M | -125M | -124M | -116M | -113M | -104M | -97M | -78M | -99M |
| Pretax Income | 2.46B | 1.03B | 1.31B | 859M | 1.22B | 1.38B | 1.41B | 1.09B | 1.54B | 1.22B | 1.79B | 1.24B | 1.07B | 1.2B | 1.04B | 909M | 217M | 1.25B | 2.02B | 1.91B |
| Pretax Margin % | 9.27% | 4.06% | 4.3% | 3.4% | 4.83% | 5.8% | 4.55% | 4.25% | 6.07% | 4.97% | 5.6% | 4.86% | 4.33% | 4.75% | 3.32% | 3.43% | 0.83% | 4.96% | 6.51% | 7.45% |
| Income Tax | 582M | 252M | 263M | 170M | 283M | 346M | 303M | 237M | 353M | 277M | 404M | 264M | 237M | 254M | 167M | 197M | 34M | 240M | 473M | 423M |
| Effective Tax Rate % | 23.67% | 24.39% | 20.11% | 19.79% | 23.23% | 25.04% | 21.55% | 21.72% | 22.85% | 22.72% | 22.62% | 21.38% | 22.11% | 21.1% | 16.01% | 21.67% | 15.67% | 19.22% | 23.45% | 22.14% |
| 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 |
| Net Margin % | 7.07% | 3.07% | 3.43% | 2.73% | 3.71% | 4.34% | 3.57% | 3.33% | 4.68% | 3.84% | 4.33% | 3.82% | 3.37% | 3.75% | 2.79% | 2.69% | 0.7% | 4.01% | 4.98% | 5.8% |
| Net Income Growth % | 100.75% | -24.61% | -5.26% | -19.32% | -21.56% | 9.98% | -20.19% | -12.05% | 42.75% | -0.84% | 57.76% | 36.38% | 356.28% | -5.85% | -43.26% | -52.15% | -89.93% | -51.88% | 11.88% | 46.75% |
| Net Income (Continuing) | 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 |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 4.12 | 1.71 | 2.30 | 1.51 | 2.05 | 2.27 | 2.41 | 1.85 | 2.57 | 2.03 | 2.98 | 2.10 | 1.80 | 2.05 | 1.89 | 1.54 | 0.39 | 2.16 | 3.21 | 3.04 |
| EPS Growth % | 100.98% | -24.67% | -4.56% | -18.38% | -20.23% | 11.82% | -19.13% | -11.9% | 42.78% | -0.98% | 57.67% | 36.36% | 361.54% | -5.09% | -41.12% | -49.34% | -89.32% | -48.2% | 17.58% | 51.24% |
| EPS (Basic) | 4.13 | 1.72 | 2.31 | 1.52 | 2.06 | 2.28 | 2.42 | 1.86 | 2.58 | 2.04 | 2.99 | 2.10 | 1.81 | 2.06 | 1.90 | 1.55 | 0.40 | 2.17 | 3.24 | 3.07 |
| Diluted Shares Outstanding | 456.6M | 455.8M | 455.1M | 455.1M | 455.6M | 456.5M | 458.4M | 461.5M | 463.5M | 463.9M | 463.1M | 462.6M | 462.5M | 462.9M | 462.7M | 462.5M | 463.6M | 467.8M | 480.6M | 489.4M |
| Basic Shares Outstanding | 454.4M | 453.8M | 453M | 453.7M | 454.6M | 455M | 456.8M | 460.1M | 462.5M | 462.2M | 461.7M | 461.6M | 461.6M | 460.9M | 460.3M | 460.3M | 461.5M | 464M | 476.1M | 484.8M |
| Dividend Payout Ratio | - | 66.07% | 49.38% | 75.18% | 54.44% | 49.23% | 46.51% | 60.42% | 42.7% | 53.93% | 36.76% | 52.21% | 59.76% | 52.32% | 56.74% | 69.8% | 228.42% | 42.02% | 27.98% | 29.57% |