Target Corporation (TGT) Key Metrics
TGT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $70.08B
- Enterprise value
- $85.52B
- P/E (TTM)
- 16.0 10-yr median 15.6
- Forward P/E
- 15.6
- PEG ratio
- 1.98
- Price / sales
- 0.7 10-yr median 0.6
- Price / book
- 4.0 10-yr median 4.6
- EV / EBITDA
- 9.2 10-yr median 9.2
- Dividend yield
- 3.01% $4.64 a year
- Beta
- 0.98
TGT key metrics, FY2017–FY2026
Fiscal year ended January 31, 2026 · U.S. dollarsTGT valuation Price multiples at each fiscal year-end price.
TGT returns How much profit the business earns on the capital it uses.
TGT per-share figures Results divided by the shares outstanding at year-end.
TGT financial health Debt, liquidity and how easily interest is covered.
TGT efficiency & capital use Working capital cycle and where the cash goes.
TGT valuation history
TGT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TGT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TGT cash returned to shareholders
TGT price vs earnings per share
TGT key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $48.05B | $63.69B | $64.37B | $79.99B | $108.61B | $91.56B | $57.10B | $38.92B | $41.43B | $37.56B |
| Enterprise value | $62.85B | $78.80B | $80.21B | $96.84B | $119.16B | $98.16B | $68.49B | $50.81B | $52.26B | $47.80B |
| P/E ratio | 13.0 | 15.6 | 15.6 | 28.8 | 15.6 | 21.0 | 17.4 | 13.3 | 14.2 | 13.7 |
| Price / sales | 0.5 | 0.6 | 0.6 | 0.7 | 1.0 | 1.0 | 0.7 | 0.5 | 0.6 | 0.5 |
| Price / book | 3.0 | 4.3 | 4.8 | 7.1 | 8.5 | 6.3 | 4.8 | 3.4 | 3.6 | 3.4 |
| Price / free cash flow | 16.9 | 14.2 | 16.9 | — | 21.4 | 11.6 | 14.0 | 15.8 | 9.4 | 9.7 |
| Price / operating cash flow | 7.3 | 8.6 | 7.5 | 19.9 | 12.6 | 8.7 | 8.0 | 6.5 | 6.0 | 6.9 |
| EV / sales | 0.6 | 0.7 | 0.7 | 0.9 | 1.1 | 1.0 | 0.9 | 0.7 | 0.7 | 0.7 |
| EV / EBITDA | 7.5 | 9.1 | 9.3 | 14.7 | 10.0 | 10.9 | 9.4 | 7.7 | 7.7 | 6.6 |
| EV / free cash flow | 22.2 | 17.6 | 21.0 | — | 23.5 | 12.5 | 16.7 | 20.7 | 11.9 | 12.3 |
| Earnings yield | 7.7% | 6.4% | 6.4% | 3.5% | 6.4% | 4.8% | 5.7% | 7.5% | 7.0% | 7.3% |
| Free cash flow yield | 5.9% | 7.0% | 5.9% | −1.9% | 4.7% | 8.6% | 7.2% | 6.3% | 10.6% | 10.4% |
| Dividend yield | 4.3% | 3.2% | 3.1% | 2.3% | 1.4% | 1.5% | 2.3% | 3.4% | 3.2% | 3.6% |
| Shareholder yield (dividends + buybacks) | 5.1% | 4.8% | 3.3% | 5.8% | 8.2% | 2.3% | 5.1% | 8.9% | 5.8% | 13.5% |
| Share price at fiscal year-end | $105.47 | $137.91 | $139.08 | $172.14 | $220.43 | $181.17 | $110.74 | $73.00 | $75.22 | $64.48 |
| Per share | ||||||||||
| Revenue per share | $229.98 | $230.76 | $232.09 | $234.82 | $215.15 | $185.12 | $151.50 | $141.33 | $132.00 | $120.64 |
| Earnings per share | $8.13 | $8.86 | $8.94 | $5.98 | $14.10 | $8.64 | $6.36 | $5.51 | $5.29 | $4.69 |
| Operating cash flow per share | $14.40 | $15.95 | $18.63 | $8.65 | $17.51 | $20.83 | $13.80 | $11.20 | $12.57 | $9.33 |
| Free cash flow per share | $6.22 | $9.69 | $8.24 | −$3.25 | $10.31 | $15.58 | $7.93 | $4.61 | $7.97 | $6.68 |
| Cash per share | $12.05 | $10.31 | $8.22 | $4.80 | $12.00 | $16.84 | $5.00 | $2.92 | $4.80 | $4.31 |
| Book value per share | $35.48 | $31.76 | $29.02 | $24.17 | $26.03 | $28.57 | $22.95 | $21.19 | $21.15 | $18.80 |
| Tangible book value per share | $34.10 | $30.39 | $27.64 | $22.78 | $24.70 | $27.25 | $21.62 | $19.88 | $19.86 | $18.36 |
| Dividends per share | $4.51 | $4.43 | $4.35 | $3.95 | $3.14 | $2.66 | $2.58 | $2.50 | $2.43 | $2.31 |
| Capex per share | $8.18 | $6.26 | $10.38 | $11.90 | $7.19 | $5.24 | $5.87 | $6.59 | $4.60 | $2.66 |
| Debt per share | $44.53 | $43.04 | $42.45 | $41.04 | $33.42 | $29.90 | $27.10 | $25.22 | $24.45 | $21.89 |
| Shares outstanding | 455.6M | 461.8M | 462.8M | 464.7M | 492.7M | 505.4M | 515.6M | 533.2M | 550.9M | 582.5M |
| Change in shares outstanding | −1.3% | −0.2% | −0.4% | −5.7% | −2.5% | −2.0% | −3.3% | −3.2% | −5.4% | −8.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 24.0% | 29.1% | 33.6% | 23.1% | 50.9% | 33.3% | 28.4% | 25.6% | 25.8% | 22.9% |
| Return on invested capital (ROIC) | 13.1% | 14.7% | 15.5% | 12.2% | 31.4% | 23.3% | 15.7% | 14.3% | 15.5% | 15.3% |
| Return on assets (ROA) | 6.3% | 7.2% | 7.6% | 5.2% | 13.2% | 9.3% | 7.8% | 7.2% | 7.5% | 7.0% |
| Return on tangible assets | 6.3% | 7.2% | 7.6% | 5.3% | 13.1% | 8.6% | 7.8% | 7.2% | 7.4% | 7.4% |
| Free cash flow margin | 2.7% | 4.2% | 3.6% | −1.4% | 4.8% | 8.4% | 5.2% | 3.3% | 6.0% | 5.5% |
| Income quality (OCF / net income) | 1.77 | 1.80 | 2.08 | 1.45 | 1.24 | 2.41 | 2.17 | 2.03 | 2.38 | 1.99 |
| Financial health | ||||||||||
| Total debt | $20.29B | $19.88B | $19.65B | $19.07B | $16.47B | $15.11B | $13.97B | $13.45B | $13.47B | $12.75B |
| Cash & short-term investments | $5.49B | $4.76B | $3.81B | $2.23B | $5.91B | $8.51B | $2.58B | $1.56B | $2.64B | $2.51B |
| Net debt | $14.80B | $15.11B | $15.84B | $16.84B | $10.56B | $6.60B | $11.40B | $11.89B | $10.83B | $10.24B |
| Debt / equity | 1.26 | 1.36 | 1.46 | 1.70 | 1.28 | 1.05 | 1.18 | 1.19 | 1.16 | 1.16 |
| Debt / assets | 0.34 | 0.34 | 0.35 | 0.36 | 0.31 | 0.29 | 0.33 | 0.33 | 0.33 | 0.34 |
| Net debt / EBITDA | 1.77 | 1.75 | 1.84 | 2.55 | 0.88 | 0.73 | 1.57 | 1.80 | 1.60 | 1.41 |
| Current ratio | 0.94 | 0.94 | 0.91 | 0.92 | 0.99 | 1.03 | 0.89 | 0.83 | 0.96 | 0.94 |
| Quick ratio | 0.36 | 0.32 | 0.29 | 0.22 | 0.35 | 0.50 | 0.27 | 0.20 | 0.30 | 0.29 |
| Interest coverage | 11.5 | 13.5 | 11.4 | 8.1 | 21.2 | 6.7 | 9.8 | 8.9 | 6.5 | 4.9 |
| Working capital | −$1.23B | −$1.34B | −$1.81B | −$1.65B | −$174.0M | $631.0M | −$1.58B | −$2.50B | −$512.0M | −$718.0M |
| Invested capital | $30.97B | $29.78B | $29.27B | $28.08B | $23.38B | $21.04B | $23.23B | $23.19B | $22.48B | $21.19B |
| Tangible asset value | $15.53B | $14.04B | $12.79B | $10.59B | $12.17B | $13.77B | $11.15B | $10.60B | $10.94B | $10.69B |
| Net current asset value | −$23.32B | −$23.65B | −$24.43B | −$24.26B | −$19.41B | −$16.05B | −$18.04B | −$17.47B | −$16.11B | −$14.49B |
| Graham number | $80.57 | $79.56 | $76.41 | $57.04 | $90.87 | $74.54 | $57.32 | $51.24 | $50.17 | $44.56 |
| Graham net-net per share | −$66.57 | −$66.73 | −$67.25 | −$68.55 | −$55.02 | −$43.77 | −$44.90 | −$42.88 | −$38.15 | −$33.05 |
| Capital allocation | ||||||||||
| Dividends paid | $2.05B | $2.05B | $2.01B | $1.84B | $1.55B | $1.34B | $1.33B | $1.33B | $1.34B | $1.35B |
| Share buybacks (net) | $408.0M | $1.01B | $127.0M | $2.83B | $7.36B | $745.0M | $1.56B | $2.12B | $1.05B | $3.71B |
| Dividend payout ratio | 55.4% | 50.0% | 48.6% | 66.0% | 22.3% | 30.7% | 40.5% | 45.5% | 45.9% | 49.3% |
| Dividends + buybacks / free cash flow | 86.8% | 68.2% | 56.0% | — | 175.2% | 26.5% | 70.8% | 140.8% | 54.3% | 130.0% |
| Capex / revenue | 3.6% | 2.7% | 4.5% | 5.1% | 3.3% | 2.8% | 3.9% | 4.7% | 3.5% | 2.2% |
| Capex / operating cash flow | 56.8% | 39.2% | 55.7% | 137.6% | 41.1% | 25.2% | 42.5% | 58.9% | 36.6% | 28.5% |
| Capex / depreciation | 1.19 | 0.97 | 1.72 | 2.05 | 1.34 | 1.07 | 1.16 | 1.42 | 1.02 | 0.67 |
| Stock-based compensation / revenue | 0.3% | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| SG&A / revenue | 20.6% | 20.5% | 19.8% | 18.8% | 18.5% | 19.8% | 20.8% | 20.9% | 20.8% | 21.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 5.8 | 5.0 | 5.3 | 5.1 | 4.3 | 4.1 | 4.8 | 4.9 | 4.2 | 4.0 |
| Days of inventory on hand | 60.5 | 58.7 | 59.5 | 60.8 | 59.8 | 54.2 | 61.5 | 62.0 | 60.3 | 62.8 |
| Days payables outstanding | 62.1 | 60.0 | 60.0 | 64.2 | 69.0 | 62.8 | 65.5 | 63.1 | 56.9 | 54.5 |
| Cash conversion cycle (days) | 4.3 | 3.8 | 4.8 | 1.6 | -4.9 | -4.6 | 0.9 | 3.7 | 7.7 | 12.3 |
| Receivables turnover | 62.59 | 72.37 | 69.32 | 71.60 | 85.21 | 89.23 | 75.76 | 74.28 | 86.67 | 91.98 |
| Payables turnover | 5.88 | 6.08 | 6.08 | 5.68 | 5.29 | 5.81 | 5.58 | 5.78 | 6.42 | 6.70 |
| Inventory turnover | 6.03 | 6.21 | 6.13 | 6.01 | 6.11 | 6.74 | 5.93 | 5.89 | 6.05 | 5.81 |
| Asset turnover | 1.79 | 1.88 | 1.98 | 2.04 | 2.02 | 1.99 | 1.86 | 1.85 | 1.87 | 1.81 |
| Average receivables | $1.67B | $1.47B | $1.55B | $1.52B | $1.24B | $1.05B | $1.03B | $1.01B | $839.0M | $764.0M |
| Average payables | $12.84B | $12.58B | $12.79B | $14.48B | $14.17B | $11.39B | $9.84B | $9.22B | $7.96B | $7.33B |
| Average inventory | $12.52B | $12.31B | $12.69B | $13.70B | $12.28B | $9.82B | $9.24B | $9.05B | $8.45B | $8.46B |
| Intangibles / total assets | 1.1% | 1.1% | 1.2% | 1.2% | 1.2% | 1.3% | 1.6% | 1.7% | 1.8% | 0.7% |
Computed from TGT's annual financial statements (latest annual report filed March 11, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TGT valuation and financial ratios
At the end of fiscal 2026 (January 31, 2026), Target traded at 13.0 times earnings, against a 10-year median of 15.6. Based on the latest twelve months, the trailing P/E is 16.0 and the forward P/E is 15.6. Target earned a return on equity of 24.0% and a return on invested capital of 13.1% in fiscal 2026. It ended the year with $20.3 billion of debt and $5.5 billion in cash and short-term investments, net debt of $14.8 billion. It returned $2.5 billion to shareholders: $2.1 billion in dividends and $408.0 million in share buybacks, 87% of free cash flow. The share count fell 21.8% from 582.5M to 455.6M over 9 years.
See the TGT income statement, the TGT chart for price history, or the TGT stock overview for the latest quote and news.
TGT key metrics FAQ
What is Target's P/E ratio?
Target's trailing P/E ratio is 16.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 15.6. At the end of fiscal 2026 it was 13.0, compared with a 10-year median of 15.6.
What is Target's EV/EBITDA?
Target's enterprise value was 7.5 times EBITDA at the end of fiscal 2026 (enterprise value $62.9 billion, EBITDA $8.3 billion); the current EV/EBITDA is 9.2.
What is Target's return on equity?
Target's return on equity (ROE) was 24.0% in fiscal 2026: net income of $3.7 billion on average shareholders' equity of $15.4 billion.
What is Target's ROIC?
Target's return on invested capital was 13.1% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Target have?
Target had total debt of $20.3 billion at the end of fiscal 2026, a debt-to-equity ratio of 1.26 and $14.8 billion of net debt (1.77 times EBITDA).
What is Target's dividend yield?
Target's forward dividend yield is 3.01%. Target paid $2.1 billion in dividends in fiscal 2026 ($4.51 per share), a payout ratio of 55.4%.
Does Target buy back its shares?
Yes. Target spent $408.0 million on net share repurchases in fiscal 2026 Shares outstanding changed −1.3% over the year, to 455.6M..
What is Target's free cash flow yield?
Target generated $2.8 billion of free cash flow in fiscal 2026, a free cash flow yield of 5.9% on its market value at year-end ($48.1 billion).
What is Target's current ratio?
Target's current ratio was 0.94 at the end of fiscal 2026: current assets were 0.94 times current liabilities.