Target Corporation (TGT) Balance Sheet
TGT balance sheet, FY2026
January 31, 2026 · U.S. dollars$59.49B assets = $43.33B liabilities + $16.16B equity
Both columns are drawn to the same scale: what TGT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TGT financial health
Current ratio0.94
Tight · current assets cover current liabilities 0.94×
Debt / equity1.26
Moderate leverage · $1.26 of debt for each $1 of equity
Equity / assets27.2%
Balanced · of assets funded by shareholders
Cash / debt27.0%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles1.1%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
TGT balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $37.43BFY2017 | $59.49BFY2026 | +5.3%/yr | |
| Total liabilities | $26.48BFY2017 | $43.33BFY2026 | +5.6%/yr | |
| Shareholders’ equity | $10.95BFY2017 | $16.16BFY2026 | +4.4%/yr | |
| Cash & short-term investments | $2.51BFY2017 | $5.49BFY2026 | +9.1%/yr | |
| Total debt | $12.75BFY2017 | $20.29BFY2026 | +5.3%/yr | |
| Net cash (debt) | −$10.24BFY2017 | −$14.80BFY2026 | −$4.6B | |
| Working capital | −$718.0MFY2017 | −$1.23BFY2026 | −$507.0M | |
| Book value per share | $18.80FY2017 | $35.48FY2026 | +7.3%/yr | |
| Current ratio | 0.94FY2017 | 0.94FY2026 | 0.00 | |
| Debt / equity | 1.16FY2017 | 1.26FY2026 | +0.09 | |
| Shares outstanding | 582.5MFY2017 | 455.6MFY2026 | −2.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TGT assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
TGT liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
TGT debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TGT balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $5.49B | $4.76B | $3.81B | $2.23B | $5.91B | $8.51B | $2.58B | $1.56B | $2.64B | $2.51B |
| Cash & equivalents | $5.49B | $4.76B | $3.81B | $2.23B | $5.91B | $8.51B | $767.0M | $1.56B | $2.64B | $2.51B |
| Short-term investments | $4.61B | $3.89B | $2.90B | $1.34B | $17.0M | $7.64B | $1.81B | $769.0M | $1.91B | $1.11B |
| Receivables | $1.81B | $1.54B | $1.40B | $1.70B | $1.35B | $1.14B | $962.0M | $1.10B | $929.0M | $749.0M |
| Inventory | $12.30B | $12.74B | $11.89B | $13.50B | $13.90B | $10.65B | $8.99B | $9.50B | $8.60B | $8.31B |
| Other current assets | $406.0M | $411.0M | $403.0M | $423.0M | $407.0M | $457.0M | $371.0M | $366.0M | $371.0M | $420.0M |
| Total current assets | $20.00B | $19.45B | $17.50B | $17.85B | $21.57B | $20.76B | $12.90B | $12.52B | $12.54B | $11.99B |
| Property, plant & equipment (net) | $37.45B | $36.78B | $36.46B | $34.17B | $30.74B | $29.11B | $28.52B | $27.50B | $26.42B | $24.66B |
| Goodwill & intangible assets | $631.0M | $631.0M | $639.0M | $645.0M | $656.0M | $668.0M | $686.0M | $699.0M | $709.0M | $259.0M |
| Long-term investments | $0 | $0 | $0 | $440.0M | $470.0M | $450.0M | $418.0M | $380.0M | $383.0M | $0 |
| Other non-current assets | $1.40B | $899.0M | $761.0M | $235.0M | $375.0M | $268.0M | $254.0M | $194.0M | $251.0M | $524.0M |
| Total assets | $59.49B | $57.77B | $55.36B | $53.34B | $53.81B | $51.25B | $42.78B | $41.29B | $40.30B | $37.43B |
| Liabilities | ||||||||||
| Accounts payable | $12.62B | $13.05B | $12.10B | $13.49B | $15.48B | $12.86B | $9.92B | $9.76B | $8.68B | $7.25B |
| Short-term debt | $2.50B | $1.99B | $1.45B | $426.0M | $425.0M | $1.35B | $361.0M | $1.22B | $429.0M | $1.72B |
| Deferred revenue | $1.20B | $1.21B | $1.16B | $1.24B | $1.20B | $5.09B | $3.45B | $840.0M | $713.0M | $861.0M |
| Total current liabilities | $21.23B | $20.80B | $19.30B | $19.50B | $21.75B | $20.12B | $14.49B | $15.01B | $13.05B | $12.71B |
| Long-term debt | $14.33B | $14.30B | $14.92B | $16.01B | $13.55B | $11.54B | $11.34B | $10.22B | $11.32B | $11.03B |
| Lease obligations | $3.83B | $3.94B | $3.61B | $2.64B | $2.49B | $2.43B | $2.48B | $2.17B | $1.92B | — |
| Other long-term liabilities | $7.77B | $8.00B | $7.70B | $6.59B | $5.69B | $5.15B | $5.12B | $4.76B | $4.28B | $2.74B |
| Total liabilities | $43.33B | $43.10B | $41.92B | $42.10B | $40.98B | $36.81B | $30.95B | $29.99B | $28.65B | $26.48B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $38.0M | $38.0M | $38.0M | $38.0M | $39.0M | $42.0M | $42.0M | $43.0M | $45.0M | $46.0M |
| Retained earnings (deficit) | $9.30B | $8.09B | $7.09B | $5.00B | $6.92B | $8.82B | $6.43B | $6.02B | $6.50B | $5.88B |
| Accumulated other comprehensive income | −$417.0M | −$458.0M | −$460.0M | −$419.0M | −$553.0M | −$756.0M | −$868.0M | −$805.0M | −$747.0M | −$638.0M |
| Total shareholders' equity | $16.16B | $14.67B | $13.43B | $11.23B | $12.83B | $14.44B | $11.83B | $11.30B | $11.65B | $10.95B |
| Key figures | ||||||||||
| Total debt | $20.29B | $19.88B | $19.65B | $19.07B | $16.47B | $15.11B | $13.97B | $13.45B | $13.47B | $12.75B |
| Net cash (debt) | −$14.80B | −$15.11B | −$15.84B | −$16.84B | −$10.56B | −$6.60B | −$11.40B | −$11.89B | −$10.83B | −$10.24B |
| Working capital | −$1.23B | −$1.34B | −$1.81B | −$1.65B | −$174.0M | $631.0M | −$1.58B | −$2.50B | −$512.0M | −$718.0M |
| Tangible book value | $15.53B | $14.04B | $12.79B | $10.59B | $12.17B | $13.77B | $11.15B | $10.60B | $10.94B | $10.69B |
| Book value per share | $35.48 | $31.76 | $29.02 | $24.17 | $26.03 | $28.57 | $22.95 | $21.19 | $21.15 | $18.80 |
| Shares outstanding | 455.6M | 461.8M | 462.8M | 464.7M | 492.7M | 505.4M | 515.6M | 533.2M | 550.9M | 582.5M |
| Current ratio | 0.94 | 0.94 | 0.91 | 0.92 | 0.99 | 1.03 | 0.89 | 0.83 | 0.96 | 0.94 |
| Quick ratio | 0.34 | 0.30 | 0.27 | 0.20 | 0.33 | 0.48 | 0.24 | 0.18 | 0.27 | 0.26 |
| Debt / equity | 1.26 | 1.36 | 1.46 | 1.70 | 1.28 | 1.05 | 1.18 | 1.19 | 1.16 | 1.16 |
| Equity / assets | 27.2% | 25.4% | 24.3% | 21.1% | 23.8% | 28.2% | 27.7% | 27.4% | 28.9% | 29.3% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $5.41B | $3.53B | $5.49B | $3.82B | $4.34B | $2.89B | $4.76B | $3.43B | $3.50B | $3.60B | $3.81B | $1.91B |
| Cash & equivalents | $5.41B | $3.53B | $5.49B | $3.82B | $4.34B | $2.89B | $4.76B | $3.43B | $3.50B | $3.60B | $3.81B | $1.91B |
| Short-term investments | — | — | — | $2.89B | $3.35B | $1.98B | $3.89B | $2.46B | $2.46B | $2.73B | $2.90B | $1.00B |
| Receivables | $0 | $0 | $1.81B | $0 | $0 | $0 | $1.54B | $0 | $0 | $0 | $1.40B | $0 |
| Inventory | $13.25B | $12.32B | $12.30B | $14.90B | $12.88B | $13.05B | $12.74B | $15.16B | $12.60B | $11.73B | $11.89B | $14.73B |
| Other current assets | $2.27B | $2.21B | $406.0M | $1.98B | $1.81B | $1.82B | $411.0M | $1.96B | $1.82B | $1.74B | $403.0M | $1.96B |
| Total current assets | $20.93B | $18.07B | $20.00B | $20.70B | $19.03B | $17.76B | $19.45B | $20.55B | $17.92B | $17.08B | $17.50B | $18.60B |
| Property, plant & equipment (net) | $38.35B | $37.83B | $37.45B | $37.45B | $37.26B | $36.92B | $36.78B | $36.44B | $36.62B | $36.60B | $36.46B | $36.25B |
| Goodwill & intangible assets | $0 | $0 | $631.0M | $0 | $0 | $0 | $631.0M | $0 | $0 | $0 | $639.0M | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.95B | $2.12B | $1.40B | $1.84B | $1.55B | $1.50B | $899.0M | $1.53B | $1.46B | $1.44B | $761.0M | $1.38B |
| Total assets | $61.23B | $58.01B | $59.49B | $59.99B | $57.85B | $56.19B | $57.77B | $58.53B | $55.99B | $55.12B | $55.36B | $56.23B |
| Liabilities | ||||||||||||
| Accounts payable | $13.31B | $12.19B | $12.62B | $13.79B | $12.02B | $11.82B | $13.05B | $14.42B | $12.60B | $11.56B | $12.10B | $14.29B |
| Short-term debt | $1.14B | $1.13B | $2.50B | $1.13B | $1.14B | $1.14B | $1.99B | $1.64B | $1.64B | $2.61B | $1.45B | $1.11B |
| Deferred revenue | — | — | $1.20B | — | — | $1.03B | $1.21B | — | $992.0M | $1.07B | $1.16B | $910.0M |
| Total current liabilities | $21.18B | $19.38B | $21.23B | $21.24B | $19.22B | $18.99B | $20.80B | $21.79B | $19.98B | $19.86B | $19.30B | $21.50B |
| Long-term debt | $14.22B | $14.28B | $14.33B | $15.37B | $18.83B | $17.90B | $18.24B | $17.76B | $17.10B | $16.88B | $18.53B | $17.91B |
| Lease obligations | $3.33B | $3.42B | $3.83B | $3.54B | $3.51B | $3.56B | $3.94B | $3.42B | $3.44B | $3.39B | $3.61B | $3.03B |
| Other long-term liabilities | $7.99B | $7.95B | $7.77B | $7.88B | $4.37B | $4.35B | $4.07B | $4.49B | $4.48B | $4.54B | $4.09B | $4.30B |
| Total liabilities | $43.39B | $41.62B | $43.33B | $44.49B | $42.43B | $41.24B | $43.10B | $44.04B | $41.57B | $41.28B | $41.92B | $43.72B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $38.0M | $38.0M | $38.0M | $38.0M | $38.0M | $38.0M | $38.0M | $38.0M | $38.0M | $39.0M | $38.0M | $38.0M |
| Retained earnings (deficit) | $10.89B | $9.55B | $9.30B | $8.78B | $8.77B | $8.36B | $8.09B | $8.01B | $8.03B | $7.52B | $7.09B | $6.22B |
| Accumulated other comprehensive income | −$414.0M | −$415.0M | −$417.0M | −$471.0M | −$468.0M | −$462.0M | −$458.0M | −$474.0M | −$470.0M | −$465.0M | −$460.0M | −$430.0M |
| Total shareholders' equity | $17.84B | $16.39B | $16.16B | $15.50B | $15.42B | $14.95B | $14.67B | $14.49B | $14.43B | $13.84B | $13.43B | $12.51B |
| Key figures | ||||||||||||
| Total debt | $18.70B | $18.83B | $20.29B | $20.04B | $19.97B | $19.04B | $19.88B | $19.40B | $18.74B | $19.49B | $19.65B | $19.03B |
| Net cash (debt) | −$13.29B | −$15.30B | −$14.80B | −$16.22B | −$15.63B | −$16.15B | −$15.11B | −$15.97B | −$15.24B | −$15.89B | −$15.84B | −$17.12B |
| Working capital | −$252.0M | −$1.32B | −$1.23B | −$540.0M | −$189.0M | −$1.23B | −$1.34B | −$1.24B | −$2.07B | −$2.78B | −$1.81B | −$2.90B |
| Tangible book value | $17.84B | $16.39B | $15.53B | $15.50B | $15.42B | $14.95B | $14.04B | $14.49B | $14.43B | $13.84B | $12.79B | $12.51B |
| Book value per share | $39.08 | $35.97 | $35.52 | $34.06 | $33.81 | $32.74 | $31.99 | $31.40 | $31.13 | $29.83 | $29.00 | $27.11 |
| Shares outstanding | 456.6M | 455.8M | 455.1M | 455.1M | 456.1M | 456.5M | 458.4M | 461.5M | 463.5M | 463.9M | 463.1M | 461.7M |
| Current ratio | 0.99 | 0.93 | 0.94 | 0.97 | 0.99 | 0.94 | 0.94 | 0.94 | 0.90 | 0.86 | 0.91 | 0.86 |
| Quick ratio | 0.26 | 0.18 | 0.34 | 0.18 | 0.23 | 0.15 | 0.30 | 0.16 | 0.17 | 0.18 | 0.27 | 0.09 |
| Debt / equity | 1.05 | 1.15 | 1.26 | 1.29 | 1.30 | 1.27 | 1.36 | 1.34 | 1.30 | 1.41 | 1.46 | 1.52 |
| Equity / assets | 29.1% | 28.3% | 27.2% | 25.8% | 26.7% | 26.6% | 25.4% | 24.8% | 25.8% | 25.1% | 24.3% | 22.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 11, 2026); data from EODHD.
TGT financial position
At the end of fiscal 2026 (January 31, 2026), Target had total assets of $59.5 billion (up 3.0% from a year earlier), total liabilities of $43.3 billion and shareholders' equity of $16.2 billion. It held $5.5 billion in cash and short-term investments against $20.3 billion of debt, net debt of $14.8 billion. Its current ratio was 0.94. In the latest quarter (ended July 31, 2026) total assets were $61.2 billion and equity $17.8 billion.
Related: TGT income statement, TGT cash flow statement, TGT key metrics. See the TGT stock overview for the latest quote and news.
TGT balance sheet FAQ
What are Target's total assets?
Target reported total assets of $59.5 billion at the end of fiscal 2026 (January 31, 2026), compared with $57.8 billion a year earlier.
How much debt does Target have?
Target had $20.3 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.26.
How much cash does Target have?
Target held $5.5 billion in cash and short-term investments at the end of fiscal 2026; with $20.3 billion of debt that is net debt of $14.8 billion.
What is Target's book value?
Target's shareholders' equity (book value) was $16.2 billion at the end of fiscal 2026, or $35.48 per share.
What is Target's current ratio?
Target had current assets of $20.0 billion and current liabilities of $21.2 billion, a current ratio of 0.94 (current liabilities exceed current assets).
How much goodwill does Target have?
Target carried $631.0 million of goodwill and intangible assets, 1.1% of total assets, at the end of fiscal 2026.