Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Target Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Jan 31, 2026	Nov 1, 2025	Aug 2, 2025	May 3, 2025	Feb 1, 2025	Nov 2, 2024	Aug 3, 2024	May 4, 2024	Feb 3, 2024	Oct 28, 2023	Jul 29, 2023	Apr 29, 2023	Jan 28, 2023	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 30, 2021	Oct 31, 2020	Aug 1, 2020	May 2, 2020
Cash and cash equivalents	5,488)	3,822)	4,341)	2,887)	4,762)	3,433)	3,497)	3,604)	3,805)	1,910)	1,617)	1,321)	2,229)	954)	1,117)	1,112)	5,911)	5,753)	7,368)	7,816)	8,511)	5,996)	7,284)	4,566)
Inventory	12,304)	14,896)	12,881)	13,048)	12,740)	15,165)	12,604)	11,730)	11,886)	14,731)	12,684)	12,616)	13,499)	17,117)	15,320)	15,083)	13,902)	14,958)	11,259)	10,539)	10,653)	12,712)	8,876)	8,584)
Other current assets	2,213)	1,984)	1,812)	1,824)	1,952)	1,956)	1,817)	1,744)	1,807)	1,958)	1,797)	1,836)	2,118)	2,322)	2,016)	1,758)	1,760)	1,865)	1,604)	1,576)	1,592)	1,601)	1,463)	1,465)
Current assets	20,005)	20,702)	19,034)	17,759)	19,454)	20,554)	17,918)	17,078)	17,498)	18,599)	16,098)	15,773)	17,846)	20,393)	18,453)	17,953)	21,573)	22,576)	20,231)	19,931)	20,756)	20,309)	17,623)	14,615)
Property and equipment, net	33,749)	33,710)	33,568)	33,182)	33,022)	32,931)	33,075)	33,114)	33,096)	33,168)	32,947)	32,396)	31,512)	30,921)	29,820)	28,670)	28,181)	27,915)	27,244)	26,804)	26,879)	26,773)	26,739)	26,589)
Operating lease assets	3,703)	3,739)	3,694)	3,739)	3,763)	3,513)	3,545)	3,486)	3,362)	3,086)	2,840)	2,640)	2,657)	2,596)	2,542)	2,571)	2,556)	2,539)	2,503)	2,362)	2,227)	2,208)	2,233)	2,235)
Other noncurrent assets	2,033)	1,840)	1,555)	1,505)	1,530)	1,533)	1,457)	1,439)	1,400)	1,376)	1,321)	1,341)	1,320)	1,705)	1,655)	1,648)	1,501)	1,381)	1,407)	1,374)	1,386)	1,371)	1,405)	1,367)
Noncurrent assets	39,485)	39,289)	38,817)	38,426)	38,315)	37,977)	38,077)	38,039)	37,858)	37,630)	37,108)	36,377)	35,489)	35,222)	34,017)	32,889)	32,238)	31,835)	31,154)	30,540)	30,492)	30,352)	30,377)	30,191)
Total assets	59,490)	59,991)	57,851)	56,185)	57,769)	58,531)	55,995)	55,117)	55,356)	56,229)	53,206)	52,150)	53,335)	55,615)	52,470)	50,842)	53,811)	54,411)	51,385)	50,471)	51,248)	50,661)	48,000)	44,806)

Total assets exhibited a general upward trend over the analyzed period, though with some fluctuation. Beginning at US$44.806 billion in May 2020, total assets peaked at US$58.531 billion in November 2024 before slightly decreasing to US$59.490 billion by January 2026. This overall increase suggests expansion of the company’s resource base.

Cash and Cash Equivalents: Cash and cash equivalents demonstrated significant volatility. A substantial increase was observed from May 2020 (US$4.566 billion) to August 2020 (US$7.284 billion), followed by a decrease and subsequent rise to US$8.511 billion in January 2021. A marked decline occurred between October 2021 and April 2022, reaching a low of US$1.112 billion. The balance then increased to US$3.805 billion in February 2024, before stabilizing around US$3.4-3.8 billion through May 2025. A final increase to US$5.488 billion is observed in January 2026. This pattern suggests active cash management, potentially related to seasonal sales or strategic investments.
Inventory: Inventory levels showed a pronounced increase from May 2020 (US$8.584 billion) to October 2021 (US$14.958 billion), indicating a build-up of goods. Inventory remained elevated through July 2022 (US$15.320 billion) before decreasing to US$13.499 billion in January 2023. Fluctuations continued, peaking again at US$15.165 billion in November 2024, and ending at US$14.896 billion in January 2026. These changes may reflect shifts in supply chain dynamics, consumer demand, or inventory management strategies.
Current Assets: Current assets generally followed the trend of total assets, increasing from US$14.615 billion in May 2020 to US$20.554 billion in November 2024, then decreasing to US$19.454 billion in February 2026. The composition of current assets, as evidenced by the fluctuations in cash and inventory, suggests a dynamic working capital position.
Property and Equipment, Net: Property and equipment, net, exhibited a consistent, albeit gradual, upward trend throughout the period, increasing from US$26.589 billion in May 2020 to US$33.749 billion in January 2026. This suggests ongoing investment in long-term assets and potential expansion of operational capacity.
Operating Lease Assets & Other Noncurrent Assets: Operating lease assets increased steadily from US$2.235 billion in May 2020 to US$3.703 billion in January 2026. Other noncurrent assets showed a similar, though less pronounced, upward trend, rising from US$1.367 billion to US$2.033 billion over the same period. These increases indicate a growing reliance on leased assets and potentially, investments in intangible assets or other long-term holdings.

In summary, the asset base experienced overall growth, driven primarily by increases in property and equipment, and operating lease assets. Fluctuations in current assets, particularly cash and inventory, suggest active management of working capital in response to changing market conditions. The observed trends indicate a company engaged in ongoing investment and expansion.

Target Corp. (NYSE:TGT)

Balance Sheet: Assets
Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Target Corp. (NYSE:TGT)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data