Target (TGT) FY2015 results: revenue $73.8 billion, up 1.6% on the year
Target Corp. (TGT) reported revenue of $73.8 billion for fiscal 2015, the year ended 30 January 2016, up 1.6% on the year before. Net income was $3.4 billion, and diluted earnings per share $5.31. The figures are the company's own, from the 10-K it filed with the SEC on 11 March 2016.
Revenue
$73.8 billion
+1.6% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$3.4 billion
FY2008FY2015
Diluted EPS
$5.31
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
73,785
72,618
71,279
+1.6%
Cost of revenue
52,241
51,278
50,039
+1.9%
Gross profit
21,544
21,340
21,240
+1.0%
Gross margin
29.2%
29.4%
29.8%
Selling, general and administrative
14,665
14,676
14,465
-0.1%
Interest expense
607
882
1,049
-31.2%
Pre-tax income
4,923
3,653
4,121
+34.8%
Income tax
1,602
1,204
1,427
+33.1%
Effective tax rate
32.5%
33.0%
34.6%
Net income
3,363
-1,636
1,971
Net margin
4.6%
-2.3%
2.8%
Diluted EPS
$5.31
-$2.56
$3.07
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
5,958
4,465
6,520
+33.4%
Capital expenditure
1,438
1,786
1,886
-19.5%
Free cash flow
4,520
2,679
4,634
+68.7%
Free cash flow margin
6.1%
3.7%
6.5%
Cash from investing
508
-1,926
-271
Cash from financing
-4,630
-1,024
-6,364
Depreciation and amortisation
2,213
2,129
1,996
+3.9%
Share-based compensation
115
71.0
106
+62.0%
Buybacks
3,483
26.0
1,461
+13,296.2%
Dividends paid
1,362
1,205
1,006
+13.0%
Dividend per share
$2.20
$1.99
$1.65
+10.6%
Diluted shares, weighted
633m
640m
642m
-1.1%
Shares outstanding at period end
602m
640m
633m
-5.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
12,957
13,997
16,231
-7.4%
Debt
11,859
11,946
11,678
-0.7%
Other liabilities
15,446
15,229
16,644
+1.4%
Total liabilities and equity
40,262
41,172
44,553
-2.2%
Fixed assets
25,217
25,958
26,412
-2.9%
Goodwill
133
147
151
-9.5%
Intangible assets
145
155
173
-6.5%
Investments
3,008
1,520
3.0
+97.9%
Cash and equivalents
4,046
n/a
n/a
Inventory
8,601
8,282
8,278
+3.9%
Other assets
n/a
5,110
9,536
Total assets
40,262
41,172
44,553
-2.2%
10-K for the year ended 30 January 2016, filed 11 March 2016: the filing.