Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

TJX Cos. Inc., EBITDA calculation

US$ in millions

12 months ended:	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019
Net income	4,474)	3,498)	3,283)	90)	3,272)	3,060)
Add: Income tax expense	1,493)	1,138)	1,115)	(1)	1,134)	1,113)
Earnings before tax (EBT)	5,967)	4,636)	4,398)	89)	4,406)	4,173)
Add: Interest expense, excluding capitalized interest	79)	84)	120)	194)	59)	65)
Earnings before interest and tax (EBIT)	6,046)	4,720)	4,517)	283)	4,465)	4,238)
Add: Depreciation and amortization	964)	887)	868)	871)	867)	820)
Earnings before interest, tax, depreciation and amortization (EBITDA)	7,010)	5,607)	5,385)	1,154)	5,333)	5,058)

Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	TJX Cos. Inc. EBITDA increased from 2022 to 2023 and from 2023 to 2024.

TJX Cos. Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	134,409)
Earnings before interest, tax, depreciation and amortization (EBITDA)	7,010)
Valuation Ratio
EV/EBITDA	19.17
Benchmarks
EV/EBITDA, Competitors¹
Amazon.com Inc.	26.37
Home Depot Inc.	17.14
Lowe’s Cos. Inc.	12.85
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail	23.05
EV/EBITDA, Industry
Consumer Discretionary	24.02

Based on: 10-K (reporting date: 2024-02-03).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

TJX Cos. Inc., historical EV/EBITDA calculation, comparison to benchmarks

	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	107,478)	86,111)	69,992)	75,388)	55,072)	63,783)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	7,010)	5,607)	5,385)	1,154)	5,333)	5,058)
Valuation Ratio
EV/EBITDA³	15.33	15.36	13.00	65.35	10.33	12.61
Benchmarks
EV/EBITDA, Competitors⁴
Amazon.com Inc.	—	19.88	28.04	21.27	32.24	26.57
Home Depot Inc.	16.56	12.29	14.08	16.53	12.34	13.36
Lowe’s Cos. Inc.	13.26	11.98	12.43	14.41	8.98	18.22
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail	—	17.44	20.13	20.16	24.23	21.23
EV/EBITDA, Industry
Consumer Discretionary	—	17.94	19.55	21.16	29.01	17.75

Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).

¹ See details »

² See details »

³ 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= 107,478 ÷ 7,010 = 15.33

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	TJX Cos. Inc. EV/EBITDA ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

TJX Cos. Inc. (NYSE:TJX)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical