Financials in USD. Standardized financial statements.
A compact view of how Target Corporation turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $104.78B | $106.57B | $107.41B | $109.12B | $106.00B | $93.56B | $78.11B | $75.36B | $72.71B | $70.27B |
| Revenue Growth? | -1.7% | -0.8% | -1.6% | +2.9% | +13.3% | +19.8% | +3.7% | +3.6% | +3.5% | 0.0% |
| Cost of Revenue? | $75.51B | $76.50B | $77.83B | $82.31B | $74.96B | $66.18B | $54.86B | $53.30B | $51.13B | $49.15B |
| Gross Profit? | $29.27B | $30.06B | $29.58B | $26.81B | $31.04B | $27.38B | $23.25B | $22.06B | $21.59B | $21.13B |
| Gross Margin? | +27.9% | +28.2% | +27.5% | +24.6% | +29.3% | +29.3% | +29.8% | +29.3% | +29.7% | +30.1% |
| Operating Expenses? | $24.15B | $24.50B | $23.88B | $22.97B | $22.10B | $20.84B | $18.59B | $17.95B | $17.36B | $16.26B |
| Operating Income? | $5.12B | $5.57B | $5.71B | $3.85B | $8.95B | $6.54B | $4.66B | $4.11B | $4.22B | $4.86B |
| EBITDA? | $8.35B | $8.65B | $8.60B | $6.60B | $11.97B | $9.01B | $7.27B | $6.61B | $6.76B | $7.27B |
| Income Before Tax | $4.77B | $5.26B | $5.30B | $3.42B | $8.91B | $5.55B | $4.19B | $3.68B | $3.63B | $3.96B |
| Income Tax Expense | $1.06B | $1.17B | $1.16B | $638.00M | $1.96B | $1.18B | $921.00M | $746.00M | $722.00M | $1.29B |
| Net Income? | $3.71B | $4.09B | $4.14B | $2.78B | $6.95B | $4.37B | $3.28B | $2.94B | $2.91B | $2.73B |
| EPS? | $8.16 | $8.89 | $8.96 | $6.02 | $14.23 | $8.73 | $6.42 | $5.56 | $5.32 | $4.74 |
| Diluted EPS? | $8.13 | $8.86 | $8.94 | $5.98 | $14.10 | $8.64 | $6.36 | $5.51 | $5.29 | $4.70 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality