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Target TGT Q4 2025 Annual earnings

Reported March 3, 2026 · Before market open

Revenue$30.5BIn line
EPS$2.44Beat by $0.28
Revenue estimate$30.5B
EPS estimate$2.16

Next report

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

Financials

Q4 2025

Income statement

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Revenue$30.5B-1.5%
Gross profit$8.1B0.0%
Operating income$1.4B-5.9%
Net income$1.0B-5.2%
EPS (diluted)$2.29-5.0%

Balance sheet

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Cash & equivalents$5.5B+15.2%
Total debt$22.4B+1.7%
Total equity$16.2B+10.2%
Total assets$59.5B+3.0%

Cash flow

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Operating cash flow$3.1B-6.4%
CapEx$885.0M-4.1%
Free cash flow$2.2B-7.4%

Valuation & ratios

Valuation

as of 01/31/26
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Market cap$51.52B-9.5%
Enterprise value$68.44B-7.8%
P/E13.9×0.0×
P/S0.5×0.0×

Profitability

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Gross margin27.9%-0.3pp
Operating margin4.9%-0.3pp
Net margin3.5%-0.3pp
FCF margin2.7%-1.5pp

Returns & leverage

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Return on equity24%-5.1pp
Debt / equity1.4×-0.1×
Current ratio0.9×0.0×

Segments

By product

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Food & beverage$6.6B+1.8%
Hardlines (Fun 101)$6.0B-2.2%
Home furnishings & décor$4.8B-5.3%
Household essentials$4.7B-1.9%
Apparel & accessories$4.1B-5.6%

By segment

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Reportable Segment$30.5B-1.5%

FAQ

When did Target report Q4 2025 earnings?
Target (TGT) reported Q4 2025 earnings on March 3, 2026 before market open.
What were Target's Q4 2025 revenue and EPS?
Target reported revenue of $30.5B and eps of $2.44 for Q4 2025.
Did Target beat estimates in Q4 2025?
Revenue missed the consensus estimate of $30.5B by $9.6M. EPS beat the consensus estimate of $2.16 by $0.28.
How did Target's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 1.5% from $30.9B a year earlier and eps grew 1.2% from $2.41.
Where can I find Target's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000027419-26-000012) and the 10-K periodic report (0000027419-26-000016) directly on SEC EDGAR. The filing index links above go to sec.gov.