In fiscal 2025, which ended Jan 31, 2026, Target Corporation reported revenue of $104.8 billion, down 1.7% from the year before. Net income was $3.7 billion, a profit margin of 3.5%. Operating income came to $5.1 billion, an operating margin of 4.9%. Diluted earnings per share were $8.13. Over the twelve months ended Aug 1, 2026, revenue was $107.7 billion and net income was $4.4 billion. Across the 10 fiscal years shown, revenue grew from $69.5 billion in fiscal 2016 to $104.8 billion in fiscal 2025, about 4.7% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2026
Aug 1, 2026
|
FY 2025
Jan 31, 2026
|
FY 2024
Feb 1, 2025
|
FY 2023
Feb 3, 2024
|
FY 2022
Jan 28, 2023
|
FY 2021
Jan 29, 2022
|
FY 2020
Jan 30, 2021
|
FY 2019
Feb 1, 2020
|
FY 2018
Feb 2, 2019
|
FY 2017
Feb 3, 2018
|
FY 2016
Jan 28, 2017
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
107,705
+2.0%
|
104,780
-1.7%
|
106,566
-0.8%
|
107,412
-1.6%
|
109,120
+2.9%
|
106,005
+13.3%
|
93,561
+19.8%
|
78,112
+3.7%
|
75,356
+4.8%
|
71,879
+3.4%
|
69,495
-5.8%
|
| Cost of revenue |
76,144
-0.1%
|
75,511
-1.3%
|
76,502
-1.7%
|
77,828
-5.4%
|
82,306
+9.8%
|
74,963
+13.3%
|
66,177
+20.6%
|
54,864
+2.9%
|
53,299
+4.3%
|
51,125
+4.0%
|
49,145
-5.9%
|
| Gross profit |
31,561
+7.3%
|
29,269
-2.6%
|
30,064
+1.6%
|
29,584
+10.3%
|
26,814
-13.6%
|
31,042
+13.4%
|
27,384
+17.8%
|
23,248
+5.4%
|
22,057
+6.3%
|
20,754
+2.0%
|
20,350
-5.5%
|
| Selling, general and administrative |
22,871
+6.8%
|
21,535
-2.0%
|
21,969
+2.4%
|
21,462
+4.3%
|
20,581
+4.2%
|
19,752
+6.1%
|
18,615
+14.7%
|
16,233
+3.2%
|
15,723
+3.9%
|
15,140
+6.5%
|
14,217
-3.1%
|
| Operating income |
6,023
+11.0%
|
5,117
-8.1%
|
5,566
-2.5%
|
5,707
+48.3%
|
3,848
-57.0%
|
8,946
+36.8%
|
6,539
+40.4%
|
4,658
+13.3%
|
4,110
|
—
|
—
|
| Interest expense |
428
+0.2%
|
445
+8.3%
|
411
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Other non-operating income (expense) |
65
-35.0%
|
95
-10.4%
|
106
+15.2%
|
92
+91.7%
|
48
-87.4%
|
382
+2487.5%
|
-16
-277.8%
|
9
-66.7%
|
27
-54.2%
|
59
-33.0%
|
88
|
| Pretax income |
5,660
+11.0%
|
4,767
-9.4%
|
5,261
-0.7%
|
5,297
+55.0%
|
3,418
-61.6%
|
8,907
+60.6%
|
5,546
+32.4%
|
4,190
+14.0%
|
3,676
+1.3%
|
3,630
-8.4%
|
3,961
-19.5%
|
| Income tax |
1,268
+8.5%
|
1,062
-9.2%
|
1,170
+0.9%
|
1,159
+81.7%
|
638
-67.5%
|
1,961
+66.5%
|
1,178
+27.9%
|
921
+23.5%
|
746
+3.3%
|
722
-44.2%
|
1,295
-19.2%
|
| Net income |
4,392
+11.8%
|
3,705
-9.4%
|
4,091
-1.1%
|
4,138
+48.8%
|
2,780
|
—
|
—
|
—
|
—
|
—
|
—
|
| Basic EPS |
9.68
+12.5%
|
8.16
-8.2%
|
8.89
-0.8%
|
8.96
+48.8%
|
6.02
-57.7%
|
14.23
+63.2%
|
8.72
+35.8%
|
6.42
+15.7%
|
5.55
+4.3%
|
5.32
+12.5%
|
4.73
-11.6%
|
| Diluted EPS |
9.64
+12.4%
|
8.13
-8.2%
|
8.86
-0.9%
|
8.94
+49.5%
|
5.98
-57.6%
|
14.10
+63.2%
|
8.64
+35.8%
|
6.36
+15.4%
|
5.51
+4.2%
|
5.29
+12.8%
|
4.69
-11.7%
|
| Weighted average shares, basic |
454
-0.6%
|
454
-1.4%
|
460
-0.2%
|
462
-0.1%
|
462
-5.3%
|
488
-2.5%
|
501
-2.0%
|
511
-3.3%
|
529
-3.3%
|
547
-5.3%
|
578
-8.0%
|
| Weighted average shares, diluted |
456
-0.5%
|
456
-1.3%
|
462
-0.2%
|
463
-0.4%
|
465
-5.7%
|
493
-2.5%
|
505
-2.0%
|
516
-3.3%
|
533
-3.1%
|
550
-5.5%
|
582
-8.0%
|
| Other measures | |||||||||||
| Depreciation and amortization |
3,173
+3.1%
|
3,134
+5.1%
|
2,981
+6.4%
|
2,801
+3.7%
|
2,700
+2.2%
|
2,642
+6.3%
|
2,485
-4.6%
|
2,604
+5.3%
|
2,474
-0.1%
|
2,476
+6.8%
|
2,318
+4.7%
|
| EBITDA |
9,196
+8.2%
|
8,251
-3.5%
|
8,547
+0.5%
|
8,508
+29.9%
|
6,548
-43.5%
|
11,588
+28.4%
|
9,024
+24.3%
|
7,262
+10.3%
|
6,584
|
—
|
—
|
| Interest coverage |
14.07x
|
11.50x
|
13.54x
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Margins | |||||||||||
| Gross margin |
29.30%
|
27.93%
|
28.21%
|
27.54%
|
24.57%
|
29.28%
|
29.27%
|
29.76%
|
29.27%
|
28.87%
|
29.28%
|
| Operating margin |
5.59%
|
4.88%
|
5.22%
|
5.31%
|
3.53%
|
8.44%
|
6.99%
|
5.96%
|
5.45%
|
—
|
—
|
| Pretax margin |
5.26%
|
4.55%
|
4.94%
|
4.93%
|
3.13%
|
8.40%
|
5.93%
|
5.36%
|
4.88%
|
5.05%
|
5.70%
|
| Profit margin |
4.08%
|
3.54%
|
3.84%
|
3.85%
|
2.55%
|
—
|
—
|
—
|
—
|
—
|
—
|
| EBITDA margin |
8.54%
|
7.87%
|
8.02%
|
7.92%
|
6.00%
|
10.93%
|
9.65%
|
9.30%
|
8.74%
|
—
|
—
|
| Effective tax rate |
22.40%
|
22.28%
|
22.24%
|
21.88%
|
18.67%
|
22.02%
|
21.24%
|
21.98%
|
20.29%
|
19.89%
|
32.69%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Retail-Variety Stores (SIC 5331)
- Listed as
- TGT (NYSE)
- Fiscal year ends
- February 1
- Incorporated in
- MN
- Headquarters
- Minneapolis, MN
- SEC filer status
- Large accelerated filer
- SEC CIK
- 27419
- Former names
- DAYTON HUDSON CORP (until Apr 12, 1999)
Other Retail-Variety Stores companies
Source: SEC EDGAR filings. This is company-reported data, not investment advice.