Target Corp
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $104.78B | $106.57B | $107.41B | $107.41B | $109.12B | $93.56B | $78.11B | $78.11B |
| Sales | — | — | — | $105.80B | $107.59B | — | — | $77.13B |
| Other Revenue | — | — | — | $1.61B | $1.53B | — | — | $982.0M |
| Cost of Revenue | $75.51B | $76.50B | $77.83B | $82.31B | $74.96B | $66.18B | $54.86B | $53.30B |
| Gross Profit | $29.27B | $30.06B | $29.58B | $25.11B | $34.16B | $27.38B | $23.25B | $24.81B |
| Gross Margin | 27.9% | 28.2% | 27.5% | 23.4% | 31.3% | 29.3% | 29.8% | 31.8% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $21.54B | $21.97B | $21.46B | $20.58B | $19.75B | $18.62B | $16.23B | $15.72B |
| Operating Income | $5.12B | $5.57B | $5.71B | $3.85B | $8.95B | $6.54B | $4.66B | $4.11B |
| Operating Margin | 4.9% | 5.2% | 5.3% | 3.6% | 8.2% | 7.0% | 6.0% | 5.3% |
| Interest Expense | — | — | $502.0M | $478.0M | $421.0M | $977.0M | $477.0M | $461.0M |
| Pretax Income | $4.77B | $5.26B | $5.30B | $3.42B | $8.91B | $5.55B | $4.19B | $3.68B |
| Income Tax Expense | $1.06B | $1.17B | $1.16B | $638.0M | $1.96B | $1.18B | $921.0M | $746.0M |
| Net Income | $3.71B | $4.09B | $4.14B | $2.78B | $6.95B | $4.37B | $3.28B | $2.94B |
| Net Margin | 3.5% | 3.8% | 3.9% | 2.6% | 6.4% | 4.7% | 4.2% | 3.8% |
| EPS (Basic) | $8.16 | $8.89 | $8.96 | $6.02 | $14.23 | $8.72 | $6.42 | $5.55 |
| EPS (Diluted) | $8.13 | $8.86 | $8.94 | $5.98 | $14.10 | $8.64 | $6.36 | $5.51 |
| Shares Outstanding (Basic) | 454.1M | 460.4M | 461.5M | 462.1M | 488.1M | 500.6M | 510.9M | 528.6M |
| Shares Outstanding (Diluted) | 455.6M | 461.8M | 462.8M | 464.7M | 492.7M | 505.4M | 515.6M | 533.2M |
| Dividends Per Share | $4.54 | $4.46 | $4.38 | $4.14 | $3.38 | $2.70 | $2.62 | $2.54 |