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Target TGT Free cash flow margin

Other financials

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+3.3%

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

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Market cap$59.38B+31.0%
Enterprise value$74.68B+21.2%
P/E17.2×+6.4×
P/S0.6×+0.1×

Profitability

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

Returns & leverage

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

Where this comes from

Calculated from Target’s reported figures.

free cash flow/total revenue=2.8%

Based on trailing twelve months.

The official record: Target’s 10-Q, filed May 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Target's free cash flow margin?
Target (TGT) reported free cash flow margin of 2.8% in Q1 2026.
How has Target's free cash flow margin changed year-over-year?
Target's free cash flow margin decreased by 14.6% year-over-year, from 3.3% to 2.8%.
What is the long-term trend for Target's free cash flow margin?
Over 2 years (2021 to 2025), Target's free cash flow margin has grown at a -31.5% compound annual growth rate (CAGR), from 24.9% to 11.7%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.