TGT — compare financials

Income Statement

TARGET CORPORATION (TGT)

Three Months Ended (In millions, except shares in scaled by 100,000 and per share data)

	May 2, 2026 (Q2)	May 3, 2025 (Q2)
Net sales	$25,443	$23,846
Apparel & accessories	$3,846	$3,711
Beauty	$3,398	$3,101
Food & beverage	$6,263	$5,902
Hardlines (Fun 101)	$3,522	$3,074
Home furnishings & décor	$3,239	$3,220
Household essentials	$4,570	$4,357
Other merchandise sales	$56	$40
Merchandise sales	$24,894	$23,405
Advertising revenue	$246	$163
Credit card profit sharing	$130	$141
Other	$173	$137
Cost of sales	$18,061	$17,128
Selling, general, and administrative expenses	$5,562	$4,591
Depreciation and amortization (exclusive of depreciation included in cost of sales)	$685	$655
Operating income	$1,135	$1,472
Net interest expense	$117	$116
Net other income	$(15)	$(26)
Earnings before income taxes	$1,033	$1,382
Provision for income taxes	$252	$346
Net earnings	$781	$1,036
Basic earnings per share (in dollars per share)	1.72	2.28
Diluted earnings per share (in dollars per share)	1.71	2.27
Basic (in shares)	4,538	4,550
Diluted (in shares)	4,558	4,565
Antidilutive shares (in shares)	$1.0	$2.4

TARGET CORPORATION (TGT)

As of (In millions, except shares and per share data)

	May 2, 2026	Jan 31, 2026	May 3, 2025
Cash and cash equivalents	$3,534	$5,488	$2,887
Inventory	$12,317	$12,304	$13,048
Other current assets	$2,214	$2,213	$1,824
Total current assets	$18,065	$20,005	$17,759
Property and equipment, net	$34,175	$33,749	$33,182
Operating lease assets	$3,652	$3,703	$3,739
Other noncurrent assets	$2,118	$2,033	$1,505
Total assets	$58,010	$59,490	$56,185
Accounts payable	$12,188	$12,622	$11,823
Accrued and other current liabilities	$6,063	$6,478	$6,029
Current portion of long-term debt and other borrowings	$1,133	$2,130	$1,139
Total current liabilities	$19,384	$21,230	$18,991
Long-term debt and other borrowings	$14,282	$14,326	$14,334
Noncurrent operating lease liabilities	$3,416	$3,462	$3,564
Deferred income taxes	$2,438	$2,265	$2,338
Other noncurrent liabilities	$2,095	$2,042	$2,011
Total noncurrent liabilities	$22,231	$22,095	$22,247
Common stock	$38	$38	$38
Additional paid-in capital	$7,220	$7,247	$7,011
Retained earnings	$9,552	$9,297	$8,360
Accumulated other comprehensive loss	$(415)	$(417)	$(462)
Total shareholders’ investment	$16,395	$16,165	$14,947
Total liabilities and shareholders’ investment	$58,010	$59,490	$56,185

TARGET CORPORATION (TGT)

Three Months Ended (In millions, except shares and per share data)

	May 2, 2026 (Q2)	May 3, 2025 (Q2)
Net earnings	$781	$1,036
Depreciation and amortization	$813	$787
Share-based compensation expense	$54	$69
Deferred income taxes	$173	$36
Noncash (gains) / losses and other, net	$(42)	$(4)
Inventory	$(13)	$(308)
Other assets	$(85)	$146
Accounts payable	$(557)	$(1,344)
Accrued and other liabilities	$(408)	$(143)
Cash provided by operating activities	$716	$275
Expenditures for property and equipment	$(1,035)	$(790)
Other	$2	$3
Cash used in investing activities	$(1,033)	$(787)
Additions to long-term debt		$991
Reductions of long-term debt	$(1,032)	$(1,534)
Dividends paid	$(516)	$(510)
Repurchase of stock		$(250)
Shares withheld for taxes on share-based compensation	$(89)	$(60)
Cash used in financing activities	$(1,637)	$(1,363)
Net decrease in cash and cash equivalents	$(1,954)	$(1,875)
Cash and cash equivalents at end of period
Cash and cash equivalents at end of period
Leased assets obtained in exchange for new finance lease liabilities		$17
Leased assets obtained in exchange for new operating lease liabilities	$45	$70