Target Corp. (TGT)

Name: Target Corp. (TGT): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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Target Corp. (TGT) reported revenue of $26.5 billion for Q2 FY2026, the quarter ended 1 August 2026, up 5.3% on the same quarter a year earlier. Net income was $1.9 billion, up 100.7% on the year, and diluted earnings per share $4.11. The figures are the company's own, from the 10-Q it filed with the SEC on 28 August 2026.

Revenue$26.5 billionup 5.3%

Net income$1.9 billionup 100.7%

Diluted EPS$4.11

QuarterQ2 FY2026ended 1 August 2026

Ratios

From the filings

ROE24.6%

ROCE18.8%

Operating margin5.6%

Net margin4.1%

FCF margin4.1%

Interest cover14.07

Debt to equity0.80

Cash conversion1.99

Share count, 1 year-0.0%

Sales CAGR, 3 years-1.3%

Profit CAGR, 3 years10.0%

EPS, TTM$9.63

At the close of 21 September 2026

Price$157.71

Market cap$71.6 billion

Stock P/E16.38

Price to book4.02

EV / EBITDA9.00

Dividend yield2.9%

Market cap / sales0.67

52-week high$169.89

52-week low$83.68

Price, 1 year79.0%

Price CAGR, 3 years11.9%

Price CAGR, 5 years-8.2%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the one borrowings figure Target Corp. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on TGT

Filings	21 in twelve months: 12 current reports (8-K), about 5 results of operations; 5 officer or director change; 2 material agreement; 2 termination of a material agreement; 2 new financial obligation
Planned insider sales	9 Form 144 notices in twelve months, $29.3 million; latest 25 August 2026
Options tape	put/call 0.86 by open interest on 23 September 2026; the straddle prices a 2.4% move to 25 September 2026
Holders	10 of the followed funds hold it; largest FMR LLC; 4 Schedule 13D or 13G filings in twelve months
Insider trading	9 sales and 0 purchases on Form 4 in twelve months
Congress	1 House trade disclosed in six months
Short interest	15.8 million shares short, 2.69 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	25,398	31,919	24,531	25,452	25,668	30,915	23,846	25,211	25,270	30,453	25,443	26,539
Cost of revenue	18,149	23,403	17,449	17,799	18,375	22,879	17,128	17,903	18,137	22,343	18,061	17,603
Gross profit	7,249	8,516	7,082	7,653	7,293	8,036	6,718	7,308	7,133	8,110	7,382	8,936
Gross margin	29%	27%	29%	30%	28%	26%	28%	29%	28%	27%	29%	34%
SG&A	5,316	6,029	5,168	5,392	5,486	5,923	4,591	5,359	5,536	6,049	5,562	5,725
Operating income	1,317	1,865	1,296	1,635	1,168	1,467	1,472	1,317	948	1,380	1,135	2,560
Operating margin	5%	6%	5%	6%	5%	5%	6%	5%	4%	5%	4%	10%
Interest expense	107	107	106	110	105	90.0	116	116	115	98.0	117	98.0
Pre-tax income	1,235	1,786	1,219	1,545	1,091	1,406	1,382	1,218	859	1,308	1,033	2,459
Tax rate	21%	23%	23%	23%	22%	22%	25%	23%	20%	20%	24%	24%
Net income	971	1,382	942	1,192	854	1,103	1,036	935	689	1,046	781	1,877
Net margin	4%	4%	4%	5%	3%	4%	4%	4%	3%	3%	3%	7%
Diluted EPS	$2.10	$2.99	$2.03	$2.57	$1.85	$2.41	$2.27	$2.05	$1.51	$2.30	$1.71	$4.11
Operating cash flow	1,934	3,289	1,101	2,238	739	3,289	275	2,083	1,127	3,077	716	3,803
Capital expenditure	1,127	854	674	639	655	923	790	1,074	978	885	1,035	1,369
Free cash flow	807	2,435	427	1,599	84.0	2,366	-515	1,009	149	2,192	-319	2,434
Buybacks	0.0	0.0	0.0	155	351	501	250	8.0	150	0.0	0.0	3.0
Dividends paid	507	508	508	509	516	513	510	509	518	516	516	518
Shares outstanding	462m	462m	463m	462m	459m	456m	454m	454m	453m	453m	454m	454m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019	FY2020	FY2021 †	FY2022 †	FY2023 †	FY2024	FY2025	TTM
Revenue	72,618	73,785	70,271	72,714	75,356	78,112	93,561	106,005	109,120	107,412	106,566	104,780	107,705
Cost of revenue	51,278	52,241	49,145	51,125	53,299	54,864	66,177	74,963	82,229	77,736	76,502	75,511	76,144
Gross profit	21,340	21,544	20,350	20,754	22,057	23,248	27,384	31,042	26,891	29,676	30,064	29,269	31,561
Gross margin	29.4%	29.2%	29.0%	28.5%	29.3%	29.8%	29.3%	29.3%	24.6%	27.6%	28.2%	27.9%	29.3%
Selling, general and administrative	14,676	14,665	14,217	15,140	15,723	16,233	18,615	19,752	20,581	21,462	21,969	21,535	22,872
Operating income	n/a	n/a	4,864	4,224	4,110	4,658	6,539	8,946	3,848	5,707	5,566	5,117	6,023
Operating margin	n/a	n/a	6.9%	5.8%	5.5%	6.0%	7.0%	8.4%	3.5%	5.3%	5.2%	4.9%	5.6%
Interest expense	882	607	991	653	461	477	977	421	478	502	411	445	428
Pre-tax income	3,653	4,923	3,965	3,630	3,676	4,190	5,546	8,907	3,418	5,297	5,261	4,767	5,659
Income tax	1,204	1,602	1,296	722	746	921	1,178	1,961	638	1,159	1,170	1,062	1,267
Effective tax rate	33.0%	32.5%	32.7%	19.9%	20.3%	22.0%	21.2%	22.0%	18.7%	21.9%	22.2%	22.3%	22.4%
Net income	-1,636	3,363	2,737	2,914	2,937	3,281	4,368	6,946	2,780	4,138	4,091	3,705	4,393
Net margin	-2.3%	4.6%	3.9%	4.0%	3.9%	4.2%	4.7%	6.6%	2.5%	3.9%	3.8%	3.5%	4.1%
Diluted EPS	-$2.56	$5.31	$4.70	$5.33	$5.51	$6.36	$8.64	$14.10	$5.98	$8.94	$8.86	$8.13	$9.63
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019	FY2020	FY2021 †	FY2022 †	FY2023 †	FY2024	FY2025	TTM
Operating cash flow	4,465	5,958	5,436	6,923	5,973	7,117	10,525	8,625	4,018	8,621	7,367	6,562	8,723
Capital expenditure	1,786	1,438	1,547	2,533	3,516	3,027	2,649	3,544	5,528	4,806	2,891	3,727	4,267
Free cash flow	2,679	4,520	3,889	4,390	2,457	4,090	7,876	5,081	-1,510	3,815	4,476	2,835	4,456
Free cash flow margin	3.7%	6.1%	5.5%	6.0%	3.3%	5.2%	8.4%	4.8%	-1.4%	3.6%	4.2%	2.7%	4.1%
Depreciation and amortisation	2,129	2,213	2,318	2,476	2,474	2,604	2,485	2,642	2,700	2,801	2,981	3,134	2,916
Share-based compensation	71.0	115	113	112	132	147	200	228	220	251	304	281	302
Buybacks	26.0	3,483	3,706	1,046	2,124	1,565	745	7,188	2,646	0.0	1,007	408	153
Dividends paid	1,205	1,362	1,348	1,338	1,335	1,330	1,343	1,548	1,836	2,011	2,046	2,053	2,068
Dividend per share	$1.99	$2.20	$2.36	$2.46	$2.54	$2.62	$2.70	$3.38	$4.14	$4.38	$4.46	$4.54	$4.58
Diluted shares, weighted	640m	633m	582m	550m	533m	516m	505m	493m	465m	463m	462m	456m	457m
Shares outstanding at period end	640m	602m	556m	542m	518m	504m	501m	471m	460m	462m	456m	453m	454m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019	FY2020	FY2021 †	FY2022 †	FY2023 †	FY2024	FY2025	TTM
Total assets	41,172	40,262	37,431	40,303	41,290	42,779	51,248	53,811	53,335	55,356	57,769	59,490	61,235
Cash and equivalents	n/a	4,046	2,512	2,643	1,556	2,577	8,511	5,911	2,229	3,805	4,762	5,488	5,411
Inventory	8,282	8,601	8,309	8,597	9,497	8,992	10,653	13,902	13,499	11,886	12,740	12,304	13,249
Goodwill	147	133	133	630	633	633	631	631	631	631	631	631	n/a
Long-term debt	11,946	11,859	11,715	10,440	10,247	9,992	10,643	11,568	14,141	14,151	13,904	14,398	n/a
Long-term debt including finance leases	12,634	11,945	11,031	11,117	10,223	11,338	11,536	13,549	16,009	14,922	14,304	14,326	14,221
Operating lease liabilities	n/a	n/a	n/a	1,924	2,004	2,275	2,218	2,493	2,638	3,279	3,582	3,462	3,332
Finance lease liabilities	n/a	n/a	n/a	885	968	1,303	1,766	1,967	1,943	1,894	2,025	1,982	n/a
Shareholders' equity	13,997	12,957	10,915	11,651	11,297	11,833	14,440	12,827	11,232	13,432	14,666	16,165	17,843
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	3.6%	2.3%	-1.3%	2.0%
Profit growth, compounded	1.0%	-3.2%	10.0%	11.8%
Return on equity, average	29.5%	32.1%	27.2%	22.9%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Retail-Variety Stores

Company	Market cap	P/E	ROE	Op. margin	Sales growth TTM	Debt to equity	Div. yield
Walmart Inc. WMT	$852.4 billion	38.93	22.5%	4.4%	6.2%	0.41	0.9%
Costco Wholesale Corp. COST	$398.5 billion	45.20	26.4%	3.8%	9.2%	0.17	0.6%
Target Corp. TGT	$71.6 billion	16.38	24.6%	5.6%	2.0%	0.80	2.9%
Dollar General Corp. DG	$26.9 billion	15.85	18.3%	5.6%	4.8%	0.49	1.9%
Dollar Tree, Inc. DLTR	$21.1 billion	13.77	47.1%	11.0%	-7.8%	0.86	n/a

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

Filing	Period	Filed	Where
10-Q	1 August 2026	28 August 2026	EDGAR
10-Q	2 May 2026	29 May 2026	EDGAR
10-K	31 January 2026	11 March 2026	EDGAR
10-Q	1 November 2025	26 November 2025	EDGAR
10-Q	2 August 2025	29 August 2025	EDGAR
10-Q	3 May 2025	30 May 2025	EDGAR
10-K	1 February 2025	12 March 2025	EDGAR
10-Q	2 November 2024	27 November 2024	EDGAR
10-Q	3 August 2024	30 August 2024	EDGAR
10-Q	4 May 2024	31 May 2024	EDGAR

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