Target (TGT) Financial Statements & Analysis

Target (TGT) Income Statement

Target reported revenue of $104.78B in fiscal 2026 (fiscal year ended Jan 31, 2026), down 1.7% from $106.57B a year earlier. Net income was $3.71B, flat year over year, a net margin of 3.5%. Gross margin was 27.9% and operating margin 4.9%. In the most recent quarter, Q2 fiscal 2027 (ended Aug 1, 2026), revenue was $26.54B, up 5.3% from the same quarter a year earlier.

Target Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Target Corporation income statement - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Jan 2026	Feb 2025	Jan 2025	Feb 2024	Jan 2024	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Feb 2018
Revenue & Gross Profit
Revenue	104.78	106.57	106.57	107.41	107.41	109.12	106.01	93.56	78.11	75.36	72.71
Cost of Revenue	75.51	76.50	76.50	77.83	77.83	82.31	74.96	66.18	54.86	53.30	51.13
Gross Profit	29.27	29.27	30.06	30.06	29.58	26.81	31.04	27.38	23.25	22.06	21.59
Operating Expenses
Research & Development	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	21.54	21.80	21.97	21.27	21.46	20.58	19.75	18.62	16.23	15.72	15.14
Operating Expenses	24.15	24.15	24.50	24.50	23.88	22.97	22.10	20.85	18.59	17.95	17.37
Operating Income	5.12	5.12	5.57	5.57	5.71	3.85	8.95	6.54	4.66	4.11	4.22
Other Income/Expense
Interest Income	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	0.45	-0.41	0.41	-0.50	0.50	0.48	0.42	0.98	0.48	0.46	0.65
Other Income/Expense	-0.35	-0.35	-0.31	-0.31	0.09	0.05	0.38	-0.99	-0.47	-0.43	-0.59
Income
Income Before Tax	4.77	5.26	5.26	5.30	5.30	3.42	8.91	5.55	4.19	3.68	3.63
Income Tax Expense	1.06	1.06	1.17	1.17	1.16	0.64	1.96	1.18	0.92	0.75	0.72
Net Income	3.71	3.71	4.09	4.09	4.14	2.78	6.95	4.37	3.28	2.94	2.91
Net Income - Continuous Operations	3.71	-	4.09	-	4.14	2.78	6.95	4.37	3.28	2.94	2.91
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-	-
EBITDA	8.35	8.72	8.65	8.70	8.60	6.60	11.97	9.01	7.27	6.61	6.76
EBIT	5.21	5.74	5.67	5.90	5.80	3.90	9.33	-	-	-	-
Depreciation & Amortization	3.13	2.98	2.98	2.80	2.42	2.39	2.34	2.49	2.60	2.47	2.48
Earnings Per Share
Basic EPS	8.00	9.00	9.00	9.00	9.00	6.00	14.00	9.00	6.00	6.00	5.00
Diluted EPS	8.00	8.00	9.00	9.00	9.00	6.00	14.00	9.00	6.00	6.00	5.00
Basic Shares Outstanding	0.45	0.46	0.46	0.46	0.46	0.46	0.49	0.50	0.51	0.53	0.55
Diluted Shares Outstanding	0.46	0.46	0.46	0.46	0.46	0.46	0.49	0.51	0.52	0.53	0.55

Source: Company financial statements from annual and quarterly filings. Data as of Aug 1, 2026. Data sources and methodology

Frequently Asked Questions About Target Financial Statements

What was Target's revenue in fiscal 2026?

Target reported revenue of $104.78B in fiscal 2026 (fiscal year ended Jan 31, 2026). That was down 1.7% from $106.57B a year earlier.

Is Target profitable?

Yes. Target earned net income of $3.71B in fiscal 2026, a net margin of 3.5%. In fiscal 2025 it earned $3.71B.

What is Target's operating margin?

Target's operating income was $5.12B on revenue of $104.78B in fiscal 2026, an operating margin of 4.9%, compared with 4.8% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition