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Target Income Statement

Revenue, expenses, and profitability over time

Target generated $106.38B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $3.5B with a 3.24% net margin. Gross margin stands at 28.14% and operating margin at 4.49%. Diluted EPS is $7.56, which declined 0.2% year-over-year. Based on the Q2 2026 filing.

Total Revenue (TTM)$106.38BGross Profit (TTM)$29.9BOperating Income (TTM)$4.8BNet Income (TTM)$3.5BEps Diluted (TTM)$7.56
Latest FilingQ2 2026
Report Date2026-05-29
Market Cap$60.2B
P/E Ratio17.46
ROE22.02%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$646M$655M$632M$649M$681M$685M
Selling, general and administrative$6B$4.6B$5.4B$5.5B$6B$5.6B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$2.42$2.28$2.06$1.52$2.31$1.72
Diluted earnings per share$2.41$2.27$2.05$1.51$2.29$1.71
Antidilutive Securities Excluded from EPS500K2.4M——2.1M1M
Weighted-average shares, basic460.4M455M454.6M453.7M454.1M453.8M
Weighted-average shares, diluted461.8M456.5M455.6M455.1M455.6M455.8M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Charges$29M$26M$17M$26M$27M$15M
Interest expense$90M$116M$116M$115M$99M$117M
Other income (expense), net$26.5M$26M———$15M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$1.4B$1.4B$1.2B$859M$1.3B$1B

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$303M$346M$283M$170M$263M$252M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$1.1B$1B$935M$689M$1B$781M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating income$1.5B$1.5B$1.3B$948M$1.4B$1.1B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Revenue From Contract With Customer Excluding Assessed Tax$30.9B$23.8B$25.2B$25.3B$30.5B$25.4B

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$22.8B$17.1B$17.9B$18.1B$22.3B$18.1B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$30.9B$23.8B$25.2B$25.3B$30.5B$25.4B