Income StatementBalance SheetCash FlowSegments
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Target Cash Flow Statement

Operating, investing, and financing cash movements

Target generated $6.0B in operating cash flow over the trailing twelve months. After $2.9B in capital expenditures, free cash flow was $3.1B. Free cash flow increased 0.4% year-over-year. Based on the Q2 2026 filing.

Net Cash From Operating (TTM)$6.5BNet Cash From Investing (TTM)-$3.0BNet Cash From Financing (TTM)-$4.3BCapital Expenditures (TTM)$3.0BDepreciation And Amortization Cf (TTM)$2.8BNet Change In Cash (TTM)-$717.0M
Latest FilingQ2 2026
Report Date2026-05-20
Market Cap$57.0B
P/E Ratio16.53
ROE22.02%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)-$18.0M$4.0M————
Other non-cash income (expense)-$18.0M$4.0M————
Change in accounts payable$350.0M-$1.3B————
Change in accrued liabilities$74.8M$39.0M$39.0M$39.0M$39.0M—
Change in inventories—$308.0M————
Change in other assets$77.0M$123.5M$123.5M$123.5M$123.5M—
Other working capital changes-$6.5M$25.0M$25.0M$25.0M$25.0M—
Deferred income taxes-$159.0M$36.0M————
Depreciation and amortization$650.0M$787.0M$632.0M$649.0M$681.0M$813.0M
Other Non-Cash Income (Expense)-$18.0M$4.0M————
Other Non-cash Income (Expense)-$18.0M$4.0M————
Other Non-cash Income (Expense)-$18.0M$4.0M————
Net cash from operating activities$3.9B$275.0M———$716.0M
Net income$1.1B$1.0B$935.0M$689.0M$1.0B$781.0M
Other non-cash income (expense)-$18.0M$4.0M————
Accrued liabilities$197.0M-$143.0M————
Increase (Decrease) in Other Current Assets$14.0M-$146.0M————
Other Noncash Income (Expense)-$18.0M$4.0M————
Other Non-cash Income and Expense-$18.0M$4.0M————
Other Non-Cash Adjustments-$18.0M$4.0M————
Other Non-Cash Income and Expense-$18.0M$4.0M————
Stock-based compensation$107.0M$69.0M———$54.0M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
ROU assets obtained - finance leases$79.8M$26.0M$26.0M$26.0M$26.0M—
ROU assets obtained - operating leases$189.5M$95.3M$95.3M$95.3M$95.3M—
Interest paid$153.8M$157.3M$157.3M$157.3M$157.3M—
ROU Asset Obtained for Finance Lease Liability$219.0M$17.0M————
ROU Asset Obtained for Lease Liability$467.0M$70.0M————

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$49.0M$790.0M———$1.0B
Payment for (Proceeds from) Other Investing Activity—-$3.0M————
Net cash from investing activities-$70.0M-$787.0M———-$1.0B

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt—$991.0M————
Repayments of debt—$1.5B————
Dividends paid$509.0M$510.0M———$516.0M
Net cash from financing activities-$1.9B-$1.4B———-$1.6B
Repurchases of common stock$599.0M$250.0M————
Taxes paid for net share settlement$34.0M$60.0M————

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$3.8B-$515.0M————

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash$1.9B-$1.9B———-$2.0B
Leased assets obtained in exchange for finance lease liabilities$219.0M$17.0M————
Leased assets obtained in exchange for operating lease liabilities$467.0M$70.0M————