Target (TGT) FY2022 results: revenue $109.1 billion, up 2.9% on the year
Target Corp. (TGT) reported revenue of $109.1 billion for fiscal 2022, the year ended 28 January 2023, up 2.9% on the year before. Net income was $2.8 billion, down 60.0%, and diluted earnings per share $5.98. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2023.
Revenue
$109.1 billion
+2.9% on the year
FY2015FY2022
Operating margin
3.5%
8.4% a year earlier
FY2015FY2022
Net income
$2.8 billion
-60.0% on the year
FY2015FY2022
Diluted EPS
$5.98
-57.6% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
4,018
8,625
10,525
-53.4%
Capital expenditure
5,528
3,544
2,649
+56.0%
Free cash flow
-1,510
5,081
7,876
Free cash flow margin
-1.4%
4.8%
8.4%
Cash from investing
-5,504
-3,154
-2,591
Cash from financing
-2,196
-8,071
-2,000
Depreciation and amortisation
2,700
2,642
2,485
+2.2%
Share-based compensation
220
228
200
-3.5%
Buybacks
2,646
7,188
745
-63.2%
Dividends paid
1,836
1,548
1,343
+18.6%
Dividend per share
$4.14
$3.38
$2.70
+22.5%
Diluted shares, weighted
465m
493m
505m
-5.7%
Shares outstanding at period end
460m
471m
501m
-2.3%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
11,232
12,827
14,440
-12.4%
Debt
14,141
13,720
12,680
+3.1%
Operating lease liabilities
2,638
2,493
2,218
+5.8%
Finance lease liabilities
1,943
1,967
1,766
-1.2%
Other liabilities
23,381
22,804
20,144
+2.5%
Total liabilities and equity
53,335
53,811
51,248
-0.9%
Fixed assets
31,512
28,181
26,879
+11.8%
Goodwill
631
631
631
0.0%
Intangible assets
n/a
n/a
37.0
Investments
1,343
4,985
7,644
-73.1%
Cash and equivalents
2,229
5,911
8,511
-62.3%
Inventory
13,499
13,902
10,653
-2.9%
Other assets
4,121
201
n/a
+1,950.2%
Total assets
53,335
53,811
51,248
-0.9%
10-K for the year ended 28 January 2023, filed 8 March 2023: the filing.