Target (TGT) FY2023 results: revenue $107.4 billion, down 1.6% on the year
Target Corp. (TGT) reported revenue of $107.4 billion for fiscal 2023, the year ended 3 February 2024, down 1.6% on the year before. Net income was $4.1 billion, up 48.8%, and diluted earnings per share $8.94. The figures are the company's own, from the 10-K it filed with the SEC on 13 March 2024.
Revenue
$107.4 billion
-1.6% on the year
FY2016FY2023
Operating margin
5.3%
3.5% a year earlier
FY2016FY2023
Net income
$4.1 billion
+48.8% on the year
FY2016FY2023
Diluted EPS
$8.94
+49.5% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
8,621
4,018
8,625
+114.6%
Capital expenditure
4,806
5,528
3,544
-13.1%
Free cash flow
3,815
-1,510
5,081
Free cash flow margin
3.6%
-1.4%
4.8%
Cash from investing
-4,760
-5,504
-3,154
Cash from financing
-2,285
-2,196
-8,071
Depreciation and amortisation
2,801
2,700
2,642
+3.7%
Share-based compensation
251
220
228
+14.1%
Buybacks
0.0
2,646
7,188
Dividends paid
2,011
1,836
1,548
+9.5%
Dividend per share
$4.38
$4.14
$3.38
+5.8%
Diluted shares, weighted
463m
465m
493m
-0.4%
Shares outstanding at period end
462m
460m
471m
+0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
13,432
11,232
12,827
+19.6%
Debt
14,151
14,141
13,720
+0.1%
Operating lease liabilities
3,279
2,638
2,493
+24.3%
Finance lease liabilities
1,894
1,943
1,967
-2.5%
Other liabilities
22,600
23,381
22,804
-3.3%
Total liabilities and equity
55,356
53,335
53,811
+3.8%
Fixed assets
33,096
31,512
28,181
+5.0%
Goodwill
631
631
631
0.0%
Investments
2,897
1,343
4,985
+115.7%
Cash and equivalents
3,805
2,229
5,911
+70.7%
Inventory
11,886
13,499
13,902
-11.9%
Other assets
3,041
4,121
201
-26.2%
Total assets
55,356
53,335
53,811
+3.8%
10-K for the year ended 3 February 2024, filed 13 March 2024: the filing.