What are Target's profit margins?

Target (TGT) runs a 28.1% gross margin and a 4.5% operating margin, with a 3.2% net margin.

Where do Target's ratios come from?

Every ratio is computed from Target's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Target TGT Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	28.1%+0.1pp	27.9%-0.3pp	27.8%-0.4pp	27.8%-0.5pp	28.1%+0.2pp
Operating margin	4.5%-0.9pp	4.9%-0.3pp	4.9%-0.6pp	5.1%-0.6pp	5.4%+0.1pp
Net margin	3.2%-0.7pp	3.5%-0.3pp	3.6%-0.5pp	3.7%-0.5pp	4%+0.1pp
EBITDA margin	7.5%-0.8pp	7.9%-0.1pp	7.9%-0.4pp	8%-0.4pp	8.3%+0.3pp
Free cash flow margin	2.8%-0.5pp	2.7%-1.5pp	2.9%-1.4pp	2.8%-2.1pp	3.3%-1.0pp
Returns
Return on equity	22%-7.1pp	24%-5.1pp	25.1%-7.3pp	26.3%-7.6pp	29.1%-3.4pp
Return on assets	6%-1.5pp	6.3%-0.9pp	6.3%-1.3pp	6.9%-1.3pp	7.5%-0.2pp
Return on invested capital	11.9%-6.4pp	12.2%-4.7pp	21.8%-5.8pp	22.7%-6.3pp	18.3%-9.7pp
Efficiency
Asset turnover	1.9×0.0×	1.8×-0.1×	1.8×-0.1×	1.9×-0.1×	1.9×-0.1×
Inventory turnover	6×-0.1×	6×-0.2×	5.1×-0.1×	6×-0.1×	6.1×-0.2×
Liquidity
Current ratio	0.9×0.0×	0.9×0.0×	1×0.0×	1×+0.1×	0.9×+0.1×
Quick ratio	0.3×0.0×	0.4×0.0×	0.3×0.0×	0.3×+0.1×	0.2×0.0×
Cash ratio	0.2×0.0×	0.3×0.0×	——	——	0.2×—
Leverage
Debt-to-equity	1.1×-0.1×	1.4×-0.1×	0.2×0.0×	0.2×0.0×	1.3×+1.0×
Debt-to-assets	0.3×0.0×	0.4×0.0×	0.1×0.0×	0.1×0.0×	0.3×+0.3×
Net debt / EBITDA	1.9×+0.1×	2.1×0.0×	0.4×0.0×	0.4×0.0×	1.8×+1.4×
Interest coverage	10.7×-2.9×	11.5×-2.1×	11.9×-2.0×	12.7×-1.5×	13.6×+1.3×
Per Share
Book value per share	$35.97+9.9%	$35.48+11.7%	$34.06+8.5%	$33.85+8.7%	$32.74+9.7%
Valuation
Market capitalization	$57.71B+31.0%	$51.52B-9.5%	$41.03B-32.8%	$43.61B-38.6%	$44.07B-38.9%
Enterprise value	$73.01B+21.2%	$68.44B-7.8%	$44.58B-30.9%	$47.13B-36.7%	$60.22B-20.3%
Price / earnings	16.7×+6.2×	13.9×0.0×	10.9×-3.1×	11.1×-4.7×	10.5×-6.9×
Price / sales	0.5×+0.1×	0.5×0.0×	0.4×-0.2×	0.4×-0.2×	0.4×-0.3×
Price / book	3.5×+0.6×	3.2×-0.7×	2.6×-1.6×	2.8×-2.1×	2.9×-2.3×
EV / EBITDA	9.2×+2.3×	8.3×-0.4×	5.4×-1.9×	5.5×-2.7×	6.8×-2.0×
EV / sales	0.7×+0.1×	0.7×0.0×	0.4×-0.2×	0.4×-0.2×	0.6×-0.1×
Free cash flow yield	5.3%-2.8pp	5.5%-2.4pp	7.3%-0.1pp	6.8%-0.7pp	8%+1.7pp
Earnings yield	6%-3.5pp	7.2%0.0pp	9.2%+2.0pp	9%+2.7pp	9.5%+3.8pp
Dividend yield	3.6%-1.1pp	4%+0.4pp	5%+1.7pp	4.7%+1.8pp	4.6%+1.8pp

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Questions, answered.

What are Target's profit margins?: Target (TGT) runs a 28.1% gross margin and a 4.5% operating margin, with a 3.2% net margin.
Where do Target's ratios come from?: Every ratio is computed from Target's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.