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Target TGT Q3 2025 earnings

Reported November 19, 2025 · Before market open

Revenue$25.3BMiss by $53.3M
EPS$1.78Beat by $0.07
Revenue estimate$25.3B
EPS estimate$1.71

Next report

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

Financials

Q3 2025

Income statement

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Revenue$25.3B-1.6%
Gross profit$7.1B-1.8%
Operating income$948.0M-18.8%
Net income$689.0M-19.3%
EPS (diluted)$1.51-18.4%

Balance sheet

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Total debt$3.5B+3.6%
Total equity$15.5B+7.0%
Total assets$60.0B+2.5%

Cash flow

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Operating cash flow$1.1B+52.5%
CapEx$978.0M+49.3%
Free cash flow$149.0M+77.4%

Valuation & ratios

Valuation

as of 11/01/25
See full
Market cap$41.03B-32.8%
Enterprise value$44.58B-30.9%
P/E10.9×-3.1×
P/S0.4×-0.2×

Profitability

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Gross margin27.8%-0.4pp
Operating margin4.9%-0.6pp
Net margin3.6%-0.5pp
FCF margin2.9%-1.4pp

Returns & leverage

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Return on equity25.1%-7.3pp
Debt / equity0.2×0.0×
Current ratio1×0.0×

Segments

By product

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Food & beverage$6.0B+1.5%
Household essentials$4.5B-3.7%
Home furnishings & décor$3.9B-6.6%
Apparel & accessories$3.8B-4.1%
Beauty$3.2B+0.2%

By segment

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Reportable Segment$25.3B-1.6%

FAQ

When did Target report Q3 2025 earnings?
Target (TGT) reported Q3 2025 earnings on November 19, 2025 before market open.
What were Target's Q3 2025 revenue and EPS?
Target reported revenue of $25.3B and eps of $1.78 for Q3 2025.
Did Target beat estimates in Q3 2025?
Revenue missed the consensus estimate of $25.3B by $53.3M. EPS beat the consensus estimate of $1.71 by $0.07.
How did Target's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 1.6% from $25.7B a year earlier and eps declined 3.8% from $1.85.
Where can I find Target's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000027419-25-000123) and the 10-Q periodic report (0000027419-25-000126) directly on SEC EDGAR. The filing index links above go to sec.gov.