Target (TGT) FY2021 results: revenue $106.0 billion, up 13.3% on the year
Target Corp. (TGT) reported revenue of $106.0 billion for fiscal 2021, the year ended 29 January 2022, up 13.3% on the year before. Net income was $6.9 billion, up 59.0%, and diluted earnings per share $14.10. The figures are the company's own, from the 10-K it filed with the SEC on 9 March 2022.
Revenue
$106.0 billion
+13.3% on the year
FY2014FY2021
Operating margin
8.4%
7.0% a year earlier
FY2014FY2021
Net income
$6.9 billion
+59.0% on the year
FY2014FY2021
Diluted EPS
$14.10
+63.2% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
8,625
10,525
7,117
-18.1%
Capital expenditure
3,544
2,649
3,027
+33.8%
Free cash flow
5,081
7,876
4,090
-35.5%
Free cash flow margin
4.8%
8.4%
5.2%
Cash from investing
-3,154
-2,591
-2,944
Cash from financing
-8,071
-2,000
-3,152
Depreciation and amortisation
2,642
2,485
2,604
+6.3%
Share-based compensation
228
200
147
+14.0%
Buybacks
7,188
745
1,565
+864.8%
Dividends paid
1,548
1,343
1,330
+15.3%
Dividend per share
$3.38
$2.70
$2.62
+25.2%
Diluted shares, weighted
493m
505m
516m
-2.5%
Shares outstanding at period end
471m
501m
504m
-5.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
12,827
14,440
11,833
-11.2%
Debt
13,720
12,680
11,499
+8.2%
Operating lease liabilities
2,493
2,218
2,275
+12.4%
Finance lease liabilities
1,967
1,766
1,303
+11.4%
Other liabilities
22,804
20,144
15,869
+13.2%
Total liabilities and equity
53,811
51,248
42,779
+5.0%
Fixed assets
28,181
26,879
26,283
+4.8%
Goodwill
631
631
633
0.0%
Intangible assets
n/a
37.0
53.0
Investments
4,985
7,644
1,810
-34.8%
Cash and equivalents
5,911
8,511
2,577
-30.5%
Inventory
13,902
10,653
8,992
+30.5%
Other assets
201
n/a
2,431
Total assets
53,811
51,248
42,779
+5.0%
10-K for the year ended 29 January 2022, filed 9 March 2022: the filing.