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Target TGT Q1 2025 earnings

Reported May 20, 2026 · Before market open

Revenue$23.8BDiluted EPS$2.27

Next report

Nov 18, 2026 (in 3 months)
Revenue estimate$26.3B
EPS estimate$2.03

Financials

Q1 2025

Income statement

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Revenue$23.8B-2.8%
Gross profit$6.7B-4.8%
Operating income$1.5B+13.6%
Net income$1.0B+10.0%
EPS (diluted)$2.27+11.8%

Balance sheet

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Cash & equivalents$2.9B—
Total debt$19.0B+461%
Total equity$14.9B+8.0%
Total assets$56.2B+1.9%

Cash flow

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Operating cash flow$275.0M-75.0%
CapEx$790.0M+17.2%
Free cash flow-$515.0M-221%

Valuation & ratios

Valuation

as of 04/30/25
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Market cap$44.07B-38.9%
Enterprise value$60.22B-20.3%
P/E10.5×-6.9×
P/S0.4×-0.3×

Profitability

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Gross margin28.1%+0.2pp
Operating margin5.4%+0.1pp
Net margin4%+0.1pp
FCF margin3.3%-1.0pp

Returns & leverage

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Return on equity29.1%-3.4pp
Debt / equity1.3×+1.0×
Current ratio0.9×+0.1×

Segments

By product

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Food & beverage$5.9B+0.8%
Household essentials$4.4B-4.2%
Apparel & accessories$3.7B-4.8%
Home furnishings & décor$3.2B-8.5%
Beauty$3.1B-0.6%

By segment

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Reportable Segment$23.8B-2.8%

FAQ

When did Target report Q1 2025 earnings?
Target (TGT) reported Q1 2025 earnings on May 20, 2026 before market open.
What were Target's Q1 2025 revenue and EPS?
Target reported revenue of $23.8B and diluted eps of $2.27 for Q1 2025.
How did Target's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 2.8% from $24.5B a year earlier.
Where can I find Target's Q1 2025 SEC filings?
You can read the 8-K earnings release (0000027419-26-000020) and the 10-Q periodic report (0000027419-25-000101) directly on SEC EDGAR. The filing index links above go to sec.gov.