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Target TGT Q2 2025 earnings

Reported August 20, 2025 · Before market open

Revenue$25.2BBeat by $274.9M
EPS$2.05Beat by $0.01
Revenue estimate$24.9B
EPS estimate$2.04

Next report

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

Financials

Q2 2025

Income statement

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Revenue$25.2B-0.9%
Gross profit$7.3B-4.2%
Operating income$1.3B-19.4%
Net income$935.0M-21.6%
EPS (diluted)$2.05-20.2%

Balance sheet

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Total debt$3.5B+2.0%
Total equity$15.4B+6.9%
Total assets$57.9B+3.3%

Cash flow

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Operating cash flow$2.1B-6.9%
CapEx$1.1B+68.1%
Free cash flow$1.0B-36.9%

Valuation & ratios

Valuation

as of 08/02/25
See full
Market cap$43.61B-38.6%
Enterprise value$47.13B-36.7%
P/E11.1×-4.7×
P/S0.4×-0.2×

Profitability

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Gross margin27.8%-0.5pp
Operating margin5.1%-0.6pp
Net margin3.7%-0.5pp
FCF margin2.8%-2.1pp

Returns & leverage

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Return on equity26.3%-7.6pp
Debt / equity0.2×0.0×
Current ratio1×+0.1×

Segments

By product

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Food & beverage$5.6B+0.9%
Household essentials$4.4B-3.1%
Apparel & accessories$4.1B-4.1%
Home furnishings & décor$3.7B-6.3%
Hardlines (Fun 101)$3.5B+6.0%

By segment

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Reportable Segment$25.2B-0.9%

FAQ

When did Target report Q2 2025 earnings?
Target (TGT) reported Q2 2025 earnings on August 20, 2025 before market open.
What were Target's Q2 2025 revenue and EPS?
Target reported revenue of $25.2B and eps of $2.05 for Q2 2025.
Did Target beat estimates in Q2 2025?
Revenue beat the consensus estimate of $24.9B by $274.9M. EPS beat the consensus estimate of $2.04 by $0.01.
How did Target's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 0.9% from $25.5B a year earlier and eps declined 20.2% from $2.57.
Where can I find Target's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000027419-25-000115) and the 10-Q periodic report (0000027419-25-000118) directly on SEC EDGAR. The filing index links above go to sec.gov.