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Target TGT Q1 2026 earnings

Reported May 20, 2026 · Before market open

Revenue$25.4BBeat by $783.8M
EPS$1.71Beat by $0.24
Revenue estimate$24.7B
EPS estimate$1.47

Next report

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

Financials

Q1 2026

Income statement

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Revenue$25.4B+6.7%
Gross profit$7.4B+9.9%
Operating income$1.1B-22.9%
Net income$781.0M-24.6%
EPS (diluted)$1.71-24.7%

Balance sheet

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Cash & equivalents$3.5B+22.4%
Total debt$18.8B-1.1%
Total equity$16.4B+9.7%
Total assets$58.0B+3.2%

Cash flow

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Operating cash flow$716.0M+160%
CapEx$1.0B+31.0%
Free cash flow-$319.0M+38.1%

Valuation & ratios

Valuation

as of 05/02/26
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Market cap$57.71B+31.0%
Enterprise value$73.01B+21.2%
P/E16.7×+6.2×
P/S0.5×+0.1×

Profitability

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Gross margin28.1%+0.1pp
Operating margin4.5%-0.9pp
Net margin3.2%-0.7pp
FCF margin2.8%-0.5pp

Returns & leverage

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Return on equity22%-7.1pp
Debt / equity1.1×-0.1×
Current ratio0.9×0.0×

Segments

By product

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Food & beverage$6.3B+6.1%
Household essentials$4.6B+4.9%
Apparel & accessories$3.8B+3.6%
Hardlines (Fun 101)$3.5B+14.6%
Beauty$3.4B+9.6%

By segment

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Reportable Segment$25.4B+6.7%

FAQ

When did Target report Q1 2026 earnings?
Target (TGT) reported Q1 2026 earnings on May 20, 2026 before market open.
What were Target's Q1 2026 revenue and EPS?
Target reported revenue of $25.4B and eps of $1.71 for Q1 2026.
Did Target beat estimates in Q1 2026?
Revenue beat the consensus estimate of $24.7B by $783.8M. EPS beat the consensus estimate of $1.47 by $0.24.
How did Target's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.7% from $23.8B a year earlier and eps grew 31.5% from $1.30.
Where can I find Target's Q1 2026 SEC filings?
You can read the 8-K earnings release (0000027419-26-000020) and the 10-Q periodic report (0000027419-26-000022) directly on SEC EDGAR. The filing index links above go to sec.gov.