TGT
Target Corporation
TGT's fundamentals are mixed: free cash flow grew 51%, while its operating margin held steady at 5.6%. At 17x earnings, it's trading in line with its usual 17x. Analysts expect earnings growth.
TGT Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Healthy |
TGT's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
TGT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 14x | $130 | -19% |
| Fair | 17x | $166 | +3.1% |
| Current | 17x | $161 | — |
| Forward | 17x | $161 | — |
| Expensive | 22x | $216 | +34% |
Historical ranges are pointers, not guarantees.
TGT's PE is in its fair range at 16.7x. On analysts' estimates for next year's earnings, today's price would be 17.1x.
TGT Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Stable | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect TGT's earnings to grow and its profitability to improve, with its revenue holding steady.
TGT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.42 | -2.2% |
| Q3 2026 | $9.63 | +12% |
| Q2 2026 | $7.57 | -17% |
| Q1 2026 | $8.13 | -8.2% |
| Q4 2025 | $8.24 | -13% |
| Q3 2025 | $8.58 | -11% |
| Q2 2025 | $9.10 | +2% |
| Q1 2025 | $8.86 | -0.9% |
| Q4 2024 | $9.44 | +20% |
TGT's earnings per share have fallen from their peak: $9.63 over the past year, against $14.10 in early 2022.
TGT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $26.5B | +5.3% |
| Q2 2026 | $25.4B | +6.7% |
| Q1 2026 | $30.5B | -1.5% |
| Q4 2025 | $25.3B | -1.6% |
| Q3 2025 | $25.2B | -0.9% |
| Q2 2025 | $23.8B | -2.8% |
| Q1 2025 | $30.9B | -3.1% |
| Q4 2024 | $25.7B | +1.1% |
TGT's revenue is recovering but still below its 2024 peak: $26.5B last quarter, up 5.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.7% | +4.4 points |
| Q2 2026 | 4.5% | -1.7 points |
| Q1 2026 | 4.5% | -0.2 points |
| Q4 2025 | 3.8% | -0.8 points |
| Q3 2025 | 5.2% | -1.2 points |
| Q2 2025 | 6.2% | +0.9 points |
| Q1 2025 | 4.8% | -1.1 points |
| Q4 2024 | 4.5% | -0.6 points |
TGT's operating margin was 9.7% last quarter, up 4.4 points from the same quarter a year ago.
TGT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.4B | +141% |
| Q2 2026 | -$319M | +$196M |
| Q1 2026 | $2.2B | -7.4% |
| Q4 2025 | $149M | +77% |
| Q3 2025 | $1B | -37% |
| Q2 2025 | -$515M | -221% |
| Q1 2025 | $2.4B | -2.8% |
| Q4 2024 | $84M | -90% |
TGT still generates free cash flow, though less than at its 2020 peak: $4.5B over the past year.
TGT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +800K shares |
| 1 year | +0.2% | +1M shares |
| 3 years | -1.3% | -5.9M shares |
| 5 years | -8.2% | -40.9M shares |
| Available history | -11% | -58.2M shares |
TGT has 457M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3M |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $150M |
| Q3 2025 | $8M |
| Q2 2025 | $250M |
| Q1 2025 | $501M |
| Q4 2024 | $351M |
TGT spent $153M buying back its own shares over the past year, down 86% from the year before.
TGT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.1x | Healthy |
| Q2 2026 | 1.6x | Healthy |
| Q1 2026 | 2.0x | Moderate |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 1.5x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.9x | Healthy |
| Q4 2024 | 1.5x | Healthy |
TGT's net debt is about 1.1 years of its operating earnings (EBITDA), down from 1.5 years a year ago.
TGT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.2 | Neutral |
| Stochastic | 54.5 | Neutral |
TGT's weekly RSI is 65 (neutral) and its Stochastic is 55 (neutral).
TGT PE vs Consumer Defensive Sector
| Metric | TGT | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 19x | 14% below |
| PE % | 44 | 18 | 26 pts above |
TGT is trading at 17x earnings, a 14% discount to the Consumer Defensive sector's median of 19x.
TGT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $156.0 | 3.2% above |
| 20 week MA | $152.3 | 5.7% above |
| 50 week MA | $131.1 | 23% above |
| 100 week MA | $117.8 | 37% above |
| 200 week MA | $131.6 | 22% above |
TGT has climbed back above all five of its weekly moving averages, and it's now 22% above its 200-week average.
TGT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $129.2 | $175.2 | +36% |
| 2021 | $175.2 | $221.0 | +26% |
| 2022 | $221.0 | $143.2 | -35% |
| 2023 | $143.2 | $142.4 | -0.5% |
| 2024 | $142.4 | $135.5 | -4.9% |
| 2025 | $135.5 | $99.6 | -27% |
| 2026 YTD | $99.6 | $160.9 | +62% |
TGT has finished four years in a row lower, and it's up 62% so far in 2026.