Income Statement Target Corporation

Equities

TGT

US87612E1064

Discount Stores

Market Closed - Nyse Other stock markets 04:00:02 2025-01-17 pm EST			5-day change	1st Jan Change
133.61 ^USD	+0.27%		-3.72%	-1.16%

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Published financial data: TARGET CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: February	2020	2021	2022	2023	2024
Revenues	77.13B	92.4B	105B	108B	106B
Other Revenues, Total	982M	1.16B	1.39B	1.53B	1.61B
Total Revenues	78.11B	93.56B	106B	109B	107B
Cost of Goods Sold, Total	54.86B	65.95B	74.96B	82.23B	77.74B
Gross Profit	23.25B	27.61B	31.04B	26.89B	29.68B
Selling General & Admin Expenses, Total	16.16B	18.55B	19.64B	20.55B	21.36B
Depreciation & Amortization - (IS)	2.36B	2.23B	2.34B	2.38B	2.42B
Other Operating Expenses, Total	18.52B	20.78B	21.98B	22.93B	23.78B
Operating Income	4.73B	6.83B	9.06B	3.96B	5.9B
Interest Expense, Total	-467M	-465M	-421M	-478M	-502M
Net Interest Expenses	-467M	-465M	-421M	-478M	-502M
Other Non Operating Income (Expenses)	3M	-4M	18M	2M	1M
EBT, Excl. Unusual Items	4.26B	6.36B	8.66B	3.48B	5.4B
Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-41M	-19M	-	-	-
Gain (Loss) On Sale Of Assets	-	-	335M	-	-
Asset Writedown	-23M	-62M	-87M	-66M	-102M
Insurance Settlements	-	-	-	-	-
Other Unusual Items	-10M	-738M	-	-	-
EBT, Incl. Unusual Items	4.19B	5.55B	8.91B	3.42B	5.3B
Income Tax Expense	921M	1.18B	1.96B	638M	1.16B
Earnings From Continuing Operations	3.27B	4.37B	6.95B	2.78B	4.14B
Earnings Of Discontinued Operations	12M	-	-	-	-
Net Income to Company	3.28B	4.37B	6.95B	2.78B	4.14B
Net Income - (IS)	3.28B	4.37B	6.95B	2.78B	4.14B
Net Income to Common Incl Extra Items	3.28B	4.37B	6.95B	2.78B	4.14B
Net Income to Common Excl. Extra Items	3.27B	4.37B	6.95B	2.78B	4.14B
Per Share Items
Net EPS - Basic	6.42	8.73	14.23	6.02	8.97
Basic EPS - Continuing Operations	6.4	8.73	14.23	6.02	8.97
Basic Weighted Average Shares Outstanding	511M	501M	488M	462M	462M
Net EPS - Diluted	6.36	8.64	14.1	5.98	8.94
Diluted EPS - Continuing Operations	6.34	8.64	14.1	5.98	8.94
Diluted Weighted Average Shares Outstanding	516M	505M	493M	465M	463M
Normalized Basic EPS	5.22	7.95	11.09	4.71	7.31
Normalized Diluted EPS	5.17	7.87	10.98	4.69	7.29
Dividend Per Share	2.6	2.68	3.16	3.96	4.36
Payout Ratio	40.54	30.75	22.29	66.04	48.6
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	7.33B	9.32B	11.7B	6.66B	8.7B
EBITA	4.74B	6.85B	9.06B	3.96B	5.9B
EBIT	4.73B	6.83B	9.06B	3.96B	5.9B
EBITDAR	7.61B	9.64B	12.07B	7.11B	9.23B
Total Revenues (As Reported)	78.11B	93.56B	106B	109B	107B
Effective Tax Rate - (Ratio)	21.98	21.24	22.02	18.67	21.88
Current Domestic Taxes	705M	1.29B	1.44B	-51M	764M
Current Foreign Taxes	38M	68M	3M	107M	97M
Total Current Taxes	743M	1.36B	1.44B	56M	861M
Deferred Domestic Taxes	179M	-182M	521M	583M	299M
Deferred Foreign Taxes	-1M	-2M	1M	-1M	-1M
Total Deferred Taxes	178M	-184M	522M	582M	298M
Normalized Net Income	2.66B	3.98B	5.41B	2.18B	3.37B
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	51M	62M	68M	68M	71M
Non-Cash Pension Expense	-47M	-7M	-29M	-46M	-91M
Supplemental Operating Expense Items
Advertising Expense	1.65B	1.5B	1.5B	1.5B	1.4B
Selling and Marketing Expenses	1.65B	1.5B	1.5B	1.5B	1.4B
Net Rental Expense, Total	274M	317M	369M	448M	530M
Imputed Operating Lease Interest Expense	74.66M	81.09M	78.72M	96.19M	109M
Imputed Operating Lease Depreciation	199M	236M	290M	352M	421M
Stock-Based Comp., SG&A Exp. (Total)	152M	210M	238M	224M	255M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	152M	210M	238M	224M	255M

Fiscal Period: February	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	2.58B	8.51B	5.91B	2.23B	3.8B
Trading Asset Securities, Total	-	-	17M	-	-
Total Cash And Short Term Investments	2.58B	8.51B	5.93B	2.23B	3.8B
Accounts Receivable, Total	-	631M	835M	1.17B	891M
Other Receivables	962M	504M	518M	526M	513M
Total Receivables	962M	1.14B	1.35B	1.7B	1.4B
Inventory	8.99B	10.65B	13.9B	13.5B	11.89B
Prepaid Expenses	154M	171M	170M	188M	201M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	217M	286M	220M	235M	202M
Total Current Assets	12.9B	20.76B	21.57B	17.85B	17.5B
Gross Property Plant And Equipment	48.18B	49.38B	51.87B	56.8B	60.87B
Accumulated Depreciation	-19.66B	-20.28B	-21.14B	-22.63B	-24.41B
Net Property Plant And Equipment	28.52B	29.11B	30.74B	34.17B	36.46B
Long-term Investments	137M	188M	135M	7M	-
Goodwill	633M	631M	631M	631M	631M
Other Intangibles, Total	53M	37M	25M	14M	8M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	535M	530M	710M	668M	761M
Total Assets	42.78B	51.25B	53.81B	53.34B	55.36B
Liabilities
Accounts Payable, Total	9.92B	12.86B	15.48B	13.49B	12.1B
Accrued Expenses, Total	1.98B	3.03B	2.91B	2.36B	2.68B
Current Portion of Long-Term Debt	94M	1.06B	63M	1M	997M
Current Portion of Leases	267M	299M	362M	425M	448M
Current Income Taxes Payable	-	473M	-	-	-
Unearned Revenue Current, Total	935M	1.04B	1.2B	1.24B	1.16B
Other Current Liabilities	1.29B	1.38B	1.73B	1.99B	1.92B
Total Current Liabilities	14.49B	20.12B	21.75B	19.5B	19.3B
Long-Term Debt	10.04B	9.77B	11.58B	14.15B	13.15B
Long-Term Leases	3.58B	3.98B	4.46B	4.58B	5.17B
Unearned Revenue Non Current	539M	509M	479M	449M	419M
Pension & Other Post Retirement Benefits	107M	57M	45M	37M	33M
Deferred Tax Liability Non Current	1.12B	990M	1.57B	2.2B	2.48B
Other Non Current Liabilities	1.08B	1.37B	1.1B	1.19B	1.36B
Total Liabilities	30.95B	36.81B	40.98B	42.1B	41.92B
Common Stock, Total	42M	42M	39M	38M	38M
Additional Paid In Capital	6.23B	6.33B	6.42B	6.61B	6.76B
Retained Earnings	6.43B	8.82B	6.92B	5B	7.09B
Comprehensive Income and Other	-868M	-756M	-553M	-419M	-460M
Total Common Equity	11.83B	14.44B	12.83B	11.23B	13.43B
Total Equity	11.83B	14.44B	12.83B	11.23B	13.43B
Total Liabilities And Equity	42.78B	51.25B	53.81B	53.34B	55.36B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	501M	499M	462M	460M	462M
ECS Total Common Shares Outstanding	504M	501M	471M	460M	462M
Book Value / Share	23.47	28.83	27.22	24.4	29.09
Tangible Book Value	11.15B	13.77B	12.17B	10.59B	12.79B
Tangible Book Value Per Share	22.11	27.5	25.83	23	27.71
Total Debt	13.97B	15.11B	16.47B	19.15B	19.77B
Net Debt	11.4B	6.6B	10.54B	16.92B	15.96B
Debt Equivalent of Unfunded Proj. Benefit Obligation	117M	69M	-72M	-28M	-18M
Debt Equivalent Oper. Leases	2.19B	2.54B	2.95B	3.58B	4.24B
Account Code - Inventory Valuation	4	4	4	4	4
Land - (BS)	6.04B	6.14B	6.16B	6.23B	6.55B
Buildings, Total	29.42B	29.5B	30.66B	32.45B	34.85B
Machinery, Total	8.78B	8.68B	8.91B	10.48B	12.19B
Full Time Employees	368K	409K	450K	440K	415K

Fiscal Period: February	2020	2021	2022	2023	2024
Net Income	3.28B	4.37B	6.95B	2.78B	4.14B
Depreciation & Amortization - CF	2.59B	2.47B	2.64B	2.7B	2.8B
Amortization of Goodwill and Intangible Assets - (CF)	13M	15M	-	-	-
Depreciation & Amortization, Total	2.6B	2.48B	2.64B	2.7B	2.8B
(Gain) Loss From Sale Of Asset	6M	86M	-268M	172M	94M
Asset Writedown & Restructuring Costs	23M	-	-	-	-
Stock-Based Compensation (CF)	147M	200M	228M	220M	251M
Net Cash From Discontinued Operations	18M	-	-	-	-
Other Operating Activities, Total	176M	328M	522M	582M	298M
Change In Inventories	505M	-1.66B	-3.25B	403M	1.61B
Change In Accounts Payable	140M	2.92B	2.63B	-2.24B	-1.22B
Change in Other Net Operating Assets	217M	1.79B	-824M	-602M	642M
Cash from Operations	7.12B	10.52B	8.62B	4.02B	8.62B
Capital Expenditure	-3.03B	-2.65B	-3.54B	-5.53B	-4.81B
Sale of Property, Plant, and Equipment	63M	42M	27M	8M	24M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	356M	-	-
Investment in Marketable and Equity Securities, Total	20M	16M	7M	16M	22M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-2.94B	-2.59B	-3.15B	-5.5B	-4.76B
Long-Term Debt Issued, Total	1.74B	2.48B	1.97B	2.62B	-
Total Debt Issued	1.74B	2.48B	1.97B	2.62B	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-2.07B	-2.42B	-1.15B	-163M	-147M
Total Debt Repaid	-2.07B	-2.42B	-1.15B	-163M	-147M
Issuance of Common Stock	73M	23M	8M	4M	-
Repurchase of Common Stock	-1.56B	-745M	-7.36B	-2.83B	-127M
Common Dividends Paid	-1.33B	-1.34B	-1.55B	-1.84B	-2.01B
Common & Preferred Stock Dividends Paid	-1.33B	-1.34B	-1.55B	-1.84B	-2.01B
Cash from Financing	-3.15B	-2B	-8.07B	-2.2B	-2.28B
Net Change in Cash	1.02B	5.93B	-2.6B	-3.68B	1.58B
Supplemental Items
Cash Interest Paid	492M	939M	414M	449M	605M
Cash Income Tax Paid (Refund)	696M	1.03B	2.06B	213M	374M
Levered Free Cash Flow	3.36B	6.71B	3.89B	-2.65B	2.33B
Unlevered Free Cash Flow	3.66B	7B	4.15B	-2.35B	2.65B
Change In Net Working Capital	-971M	-2.68B	848M	2.22B	-709M
Net Debt Issued / Repaid	-330M	65M	825M	2.46B	-147M

Fiscal Period: February	2020	2021	2022	2023	2024
Profitability
Return on Assets	7.03	9.09	10.78	4.62	6.79
Return on Total Capital	11.69	15.43	19.25	8.29	11.6
Return On Equity %	28.27	33.25	50.95	23.11	33.55
Return on Common Equity	28.27	33.25	50.95	23.11	33.55
Margin Analysis
Gross Profit Margin %	29.76	29.51	29.28	24.64	27.63
SG&A Margin	20.69	19.82	18.52	18.83	19.89
EBITDA Margin %	9.39	9.96	11.04	6.1	8.1
EBITA Margin %	6.07	7.32	8.55	3.63	5.49
EBIT Margin %	6.05	7.3	8.55	3.63	5.49
Income From Continuing Operations Margin %	4.18	4.67	6.55	2.55	3.85
Net Income Margin %	4.2	4.67	6.55	2.55	3.85
Net Avail. For Common Margin %	4.18	4.67	6.55	2.55	3.85
Normalized Net Income Margin	3.41	4.25	5.11	2	3.14
Levered Free Cash Flow Margin	4.31	7.17	3.67	-2.43	2.17
Unlevered Free Cash Flow Margin	4.68	7.48	3.92	-2.15	2.46
Asset Turnover
Asset Turnover	1.86	1.99	2.02	2.04	1.98
Fixed Assets Turnover	2.79	3.25	3.54	3.36	3.04
Receivables Turnover (Average Receivables)	-	163.68	142.72	107.37	102.72
Inventory Turnover (Average Inventory)	5.93	6.71	6.11	6	6.12
Short Term Liquidity
Current Ratio	0.89	1.03	0.99	0.92	0.91
Quick Ratio	0.24	0.48	0.33	0.2	0.27
Operating Cash Flow to Current Liabilities	0.49	0.52	0.4	0.21	0.45
Days Sales Outstanding (Average Receivables)	-	2.22	2.55	3.39	3.61
Days Outstanding Inventory (Average Inventory)	61.33	54.21	59.62	60.65	60.58
Average Days Payable Outstanding	65.89	61.32	65.94	64.42	62.35
Cash Conversion Cycle (Average Days)	-	-4.88	-3.77	-0.39	1.84
Long Term Solvency
Total Debt/Equity	118.09	104.63	128.38	170.53	147.18
Total Debt / Total Capital	54.15	51.13	56.21	63.04	59.54
LT Debt/Equity	115.04	95.25	125.06	166.74	136.42
Long-Term Debt / Total Capital	52.75	46.55	54.76	61.63	55.19
Total Liabilities / Total Assets	72.34	71.82	76.16	78.94	75.74
EBIT / Interest Expense	10.12	14.7	21.52	8.28	11.75
EBITDA / Interest Expense	16.29	20.72	28.68	14.87	18.39
(EBITDA - Capex) / Interest Expense	9.81	15.03	20.26	3.31	8.81
Total Debt / EBITDA	1.84	1.57	1.36	2.69	2.14
Net Debt / EBITDA	1.5	0.68	0.87	2.38	1.73
Total Debt / (EBITDA - Capex)	3.05	2.16	1.93	12.12	4.47
Net Debt / (EBITDA - Capex)	2.49	0.94	1.24	10.71	3.61
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	3.66	19.78	13.3	2.94	-1.57
Gross Profit, 1 Yr. Growth %	5.4	18.76	12.43	-13.37	10.36
EBITDA, 1 Yr. Growth %	9.42	27.1	25.59	-43.1	30.65
EBITA, 1 Yr. Growth %