Income StatementBalance SheetCash FlowSegments
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Target Income Statement

Revenue, expenses, and profitability over time

Target generated $105.24B in trailing twelve-month revenue, down 0.0% year-over-year. Net income was $3.8B with a 3.58% net margin. Gross margin stands at 27.74% and operating margin at 4.94%. Diluted EPS is $8.24, which declined 0.1% year-over-year. Based on the Q3 2025 filing.

Total Revenue (TTM)$105.24BGross Profit (TTM)$29.2BOperating Income (TTM)$5.2BNet Income (TTM)$3.8BEps Diluted (TTM)$8.24
Latest FilingQ3 2025
Report Date2025-11-26
Market Cap$56.9B
P/E Ratio15.12
ROE25.1%

Operating Expenses

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Depreciation and amortization$626.0M$639.0M$646.0M$655.0M$632.0M$649.0M
Selling, general and administrative$5.4B$5.5B$5.9B$4.6B$5.4B$5.5B

Earnings Per Share

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Basic earnings per share$2.58$1.86$2.41$2.28$2.06$1.52
Diluted earnings per share$2.57$1.85$2.41$2.27$2.05$1.51
Weighted-average shares, basic462.5M460.1M—455M454.6M453.7M
Weighted-average shares, diluted463.5M461.5M—456.5M455.6M455.1M

Income Before Tax

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Income before income taxes$1.5B$1.1B$1.4B$1.4B$1.2B$859.0M

Tax

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Income tax expense$353.0M$237.0M$303.0M$346.0M$283.0M$170.0M

Other Income & Expense

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Interest expense$110.0M$105.0M$90.0M$116.0M$116.0M$115.0M

Net Income

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Net income$1.2B$854.0M$1.1B$1.0B$935.0M$689.0M

Operating Income

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Operating income$1.6B$1.2B$1.5B$1.5B$1.3B$948.0M

Cost of Revenue

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Total cost of revenue$17.8B$18.4B$22.9B$17.1B$17.9B$18.1B

Revenue

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Total revenue$25.5B$25.7B$30.9B$23.8B$25.2B$25.3B

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Stock options excluded as their inclusion would be anti-dilutive (in shares)2.3M500K—2.4M5M2.3M
Other income, net (Note 6)$20.0M$28.0M$29.0M$26.0M$17.0M$26.0M