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Target TGT Gross 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$58.05B+31.0%
Enterprise value$73.35B+21.2%
P/E16.8×+6.2×
P/S0.6×+0.1×

Profitability

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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.

gross profit/total revenue=28.1%

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 gross margin?
Target (TGT) reported gross margin of 28.1% in Q1 2026.
How has Target's gross margin changed year-over-year?
Target's gross margin increased by 0.2% year-over-year, from 28.1% to 28.1%.
What is the long-term trend for Target's gross margin?
Over 2 years (2023 to 2025), Target's gross margin has grown at a 3.1% compound annual growth rate (CAGR), from 105% to 111.7%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.