0000027419-26-000016
SEC filingTarget Corporation reported strong financial results for fiscal year 2025, ending January 31, 2026. The company achieved net sales of $104.78 billion, with net earnings of $3.71 billion and operating income of $5.12 billion. Earnings per share were $8.00 for both basic and diluted calculations. The company generated $6.56 billion in cash from operating activities, with free cash flow of $2.91 billion after accounting for $3.65 billion used in investing activities. The balance sheet shows total assets of $59.49 billion, with shareholders' investment of $16.16 billion. The company maintained a solid liquidity position with $5.49 billion in cash and cash equivalents. These results demonstrate Target's operational efficiency and financial stability in the retail sector.
Target Corporation delivered solid financial performance for fiscal year 2025, ending January 31, 2026. The company reported net sales of $104.78 billion, with cost of sales totaling $75.51 billion, resulting in gross profit of $29.27 billion. Operating income reached $5.12 billion after accounting for selling, general and administrative expenses of $21.54 billion and depreciation and amortization of $2.62 billion. Net earnings were $3.71 billion after provision for income taxes of $1.06 billion, net interest expense of $445 million, and net other income of $95 million. Basic and diluted earnings per share both stood at $8.00, with weighted average common shares outstanding of 454.1 million basic and 455.6 million diluted.
The financial data provided does not include segment breakdown or geographic mix information. The consolidated net sales figure of $104.78 billion represents the company's total revenue from all operations. No specific revenue drivers, segment performance data, or growth rate comparisons to prior periods are disclosed in the provided financial data. The analysis is limited to the consolidated figures presented in the income statement.
Target achieved a gross margin of 27.9% based on net sales of $104.78 billion and gross profit of $29.27 billion. The operating margin was 4.9%, calculated from operating income of $5.12 billion relative to net sales. The company's cost structure included selling, general and administrative expenses representing 20.6% of net sales. Depreciation and amortization expenses, exclusive of depreciation included in cost of sales, totaled $2.62 billion. The net profit margin was 3.5%, derived from net earnings of $3.71 billion divided by net sales.
The company generated $6.56 billion in cash from operating activities, with net earnings of $3.71 billion adjusted for non-cash items including depreciation and amortization of $3.13 billion. Investing activities used $3.65 billion, primarily for property and equipment expenditures of $3.73 billion. Free cash flow, calculated as cash from operating activities minus capital expenditures, was $2.91 billion. The balance sheet shows total assets of $59.49 billion, including current assets of $20.00 billion and property and equipment net of $33.75 billion. Total liabilities were $43.32 billion, with current liabilities of $21.23 billion and long-term debt of $14.33 billion. Shareholders' investment totaled $16.16 billion, with retained earnings of $9.30 billion.
The provided financial data does not include management guidance, strategic priorities, or specific risk factors. The filing contains only the financial statements and related notes without forward-looking statements or outlook commentary. Investors should refer to the complete 10-K filing for comprehensive information about the company's future plans, market conditions, and risk factors that may affect future performance.