Common-Size Balance Sheet: Assets
Quarterly Data
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Target Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04).
- Cash and Cash Equivalents
- Cash and cash equivalents as a percentage of total assets exhibit considerable volatility over the analyzed periods. Starting from a low of 2.22% in November 2019, the percentage peaked multiple times, notably reaching 16.61% in January 2021 and 15.18% in August 2020. After fluctuating through mid-levels, another increase is observable starting late 2023, reaching approximately 7.5% by August 2024. This suggests changing liquidity preferences or cash management strategies across quarters.
- Inventory
- The inventory percentage of total assets exhibits a cyclical pattern with notable peaks and troughs. Initial values near 22-23% gradually rose to a high point of nearly 31% in October 2022. Subsequent declines brought the percentage back to approximately 22-23% by August 2024. The peaks coincide with increased levels in noncurrent assets, indicating possible inventory build-up for anticipated demand or operational needs.
- Other Current Assets
- This category remains relatively stable throughout the entire period, staying within a narrow range around 3% to 4% of total assets. Minor fluctuations exhibit a slight tendency to increase in mid-2022 but revert shortly afterward, indicating consistency in other types of current assets relative to the overall asset base.
- Current Assets
- Current assets as a portion of total assets have shown fluctuations with an overall range from approximately 28.5% up to over 41.5%. Peaks are observed around late 2020 and early 2022, coinciding with higher cash and inventory proportions. Intervals following these peaks show gradual decreases, stabilizing near 31-33% toward the most recent periods. This pattern reflects shifts between liquidity, inventory levels, and other current assets through the quarters.
- Property and Equipment, Net
- The net property and equipment percentage generally decline from over 63% in mid-2019 to a low of about 52.85% in October 2020, followed by a gradual rebound toward 59-62% in later periods. The decline likely reflects asset disposals or depreciation, while the recovery phase could be due to investments or adjustments in asset valuations, indicating shifting capital expenditure or asset management priorities.
- Operating Lease Assets
- Operating lease assets constitute a steady 4.3% to 6.3% of total assets, with a gradual upward trend particularly observable from late 2022 onward, increasing from about 4.7% to above 6.5% by mid-2024. This steady rise may correspond with evolving leasing strategies or expanded leased asset usage over the timeline.
- Other Noncurrent Assets
- Other noncurrent assets show minimal variation, fluctuating slightly around 2.5% to 3.3% of total assets. The values exhibit a small dip in early 2023 but generally maintain stability, reflecting a consistent composition of long-term miscellaneous assets relative to the overall asset portfolio.
- Noncurrent Assets
- The proportion of noncurrent assets to total assets decreases from about 71.4% in mid-2019 to approximately 59.9% by late 2020, then gradually increases back beyond 68% in more recent quarters. This pattern complements the trends in property and equipment and operating lease assets, illustrating shifts in asset composition between current and long-term classifications.
- Total Assets
- Throughout the periods analyzed, total assets are normalized to 100%, serving as the reference point for all other asset category percentages.