Target Corporation income statement

In fiscal 2026, Target Corporation reported revenue of $104.78bn, down 1.7% on the year before, operating income of $5.12bn (a 4.9% margin) and net income of $3.71bn, or $8.13 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Target Corporation: income statement, annual
Fiscal year	2010Jan 2010	2011Jan 2011	2012Jan 2012	2013Feb 2013	2014Feb 2014	2015Jan 2015	2016Jan 2016	2017Jan 2017	2018Feb 2018	2019Feb 2019	2020Feb 2020	2021Jan 2021	2022Jan 2022	2023Jan 2023	2024Feb 2024	2025Feb 2025	2026Jan 2026	LTMAug 2026
Revenue	65.4	67.4	69.9	73.3	71.3	72.6	73.8	70.3	72.7	75.4	78.1	93.6	106.0	109.1	107.4	106.6	104.8	107.7
Cost of revenue	44.1	45.7	47.9	50.6	50.0	51.3	52.2	49.1	51.1	53.3	54.9	66.2	75.0	82.3	77.8	76.5	75.5	76.1
Gross profit	21.3	21.7	22.0	22.7	21.2	21.3	21.5	20.4	20.8	22.1	23.2	27.4	31.0	26.8	29.6	30.1	29.3	31.6
Selling, general and administrative	13.1	13.5	14.1	14.6	14.5	14.7	14.7	14.2	15.1	15.7	16.2	18.6	19.8	20.6	21.5	22.0	21.5	22.9
Operating income	4.6	5.2	5.3	5.2	—	—	—	4.9	4.2	4.1	4.7	6.5	8.9	3.8	5.7	5.6	5.1	6.0
Interest expense	0.8	0.8	0.9	0.7	1.0	0.9	0.6	1.0	0.7	0.5	0.5	1.0	0.4	0.5	0.5	0.4	0.4	0.4
Provision for credit losses	1.2	0.5	0.2	0.2	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Income before tax	3.9	4.5	4.5	5.1	4.1	3.7	4.9	4.0	3.6	3.7	4.2	5.5	8.9	3.4	5.3	5.3	4.8	5.7
Income tax	1.4	1.6	1.5	1.7	1.4	1.2	1.6	1.3	0.7	0.7	0.9	1.2	2.0	0.6	1.2	1.2	1.1	1.3
Net income	2.5	2.9	2.9	3.0	2.0	−1.6	3.4	2.7	2.9	2.9	3.3	4.4	6.9	2.8	4.1	4.1	3.7	4.4
Diluted EPS	$3.30	$4.00	$4.28	$4.52	$3.07	−$2.56	$5.31	$4.69	$5.29	$5.51	$6.36	$8.64	$14.10	$5.98	$8.94	$8.86	$8.13	$9.64
Diluted shares (average)	755m	729m	684m	663m	642m	640m	633m	583m	550m	533m	516m	505m	493m	465m	463m	462m	456m	456m
EBITDA	6.6	7.3	7.4	7.3	—	—	—	7.2	6.7	6.6	7.3	9.0	11.6	6.5	8.5	8.5	8.3	8.9

US$ billions unless shown otherwise. Fiscal quarters.

Target Corporation: income statement, quarterly
Quarter	2025 Q3Nov 2024	2025 Q4Feb 2025	2026 Q1May 2025	2026 Q2Aug 2025	2026 Q3Nov 2025	2026 Q4Jan 2026	2027 Q1May 2026	2027 Q2Aug 2026
Revenue	25.7	30.9	23.8	25.2	25.3	30.5	25.4	26.5
Cost of revenue	18.4	22.8	17.1	17.9	18.1	22.3	18.1	17.6
Gross profit	7.3	8.1	6.7	7.3	7.1	8.1	7.4	8.9
Selling, general and administrative	5.5	6.0	4.6	5.4	5.5	6.0	5.6	5.7
Operating income	1.2	1.5	1.5	1.3	0.9	1.4	1.1	2.6
Interest expense	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Income before tax	1.1	1.4	1.4	1.2	0.9	1.3	1.0	2.5
Income tax	0.2	0.3	0.3	0.3	0.2	0.3	0.3	0.6
Net income	0.9	1.1	1.0	0.9	0.7	1.0	0.8	1.9
Diluted EPS	$1.85	$2.41	$2.27	$2.05	$1.51	$2.29	$1.71	$4.11
EBITDA	1.8	2.2	2.3	1.9	1.6	2.2	1.9	3.2

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Target Corporation's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Target Corporation.