Stock Analysis on Net

Target Corp. (NYSE:TGT)

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Target Corp., consolidated income statement (quarterly data)

US$ in millions

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3 months ended: 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 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019
Sales 30,915 25,668 25,452 24,531 31,467 25,004 24,384 24,948 30,983 26,122 25,653 24,830 30,616 25,290 24,826 23,879 27,997 22,336 22,696 19,371 23,132 18,414 18,183 17,401
Other revenue 452 394 389 374 412 396 384 340 380 362 334 318 342 296 279 244 266 251 239 226
Revenue 30,915 25,668 25,452 24,531 31,919 25,398 24,773 25,322 31,395 26,518 26,037 25,170 30,996 25,652 25,160 24,197 28,339 22,632 22,975 19,615 23,398 18,665 18,422 17,627
Cost of sales (22,879) (18,375) (17,799) (17,449) (23,403) (18,149) (17,798) (18,386) (23,946) (19,680) (20,142) (18,461) (22,761) (18,206) (17,280) (16,716) (20,485) (15,509) (15,673) (14,510) (17,056) (12,935) (12,625) (12,248)
Gross margin 8,036 7,293 7,653 7,082 8,516 7,249 6,975 6,936 7,449 6,838 5,895 6,709 8,235 7,446 7,880 7,481 7,854 7,123 7,302 5,105 6,342 5,730 5,797 5,379
Selling, general and administrative expenses (5,923) (5,486) (5,392) (5,168) (6,029) (5,316) (5,184) (5,025) (5,675) (5,219) (5,002) (4,762) (5,535) (4,859) (4,849) (4,509) (5,448) (4,647) (4,460) (4,060) (4,505) (4,153) (3,912) (3,663)
Depreciation and amortization, exclusive of depreciation included in cost of sales (646) (639) (626) (618) (622) (616) (594) (583) (615) (597) (572) (601) (605) (577) (564) (598) (570) (541) (542) (577) (640) (575) (561) (581)
Operating income 1,467 1,168 1,635 1,296 1,865 1,317 1,197 1,328 1,159 1,022 321 1,346 2,095 2,010 2,467 2,374 1,836 1,935 2,300 468 1,197 1,002 1,324 1,135
Net interest expense (90) (105) (110) (106) (107) (107) (141) (147) (129) (125) (112) (112) (104) (105) (104) (108) (106) (632) (122) (117) (118) (113) (120) (126)
Net other income (expense) 29 28 20 29 28 25 16 23 13 12 8 15 26 6 7 343 (5) 11 (22) (28) 12 13 12
Earnings from continuing operations before income taxes 1,406 1,091 1,545 1,219 1,786 1,235 1,072 1,204 1,043 909 217 1,249 2,017 1,911 2,370 2,609 1,730 1,298 2,189 329 1,051 901 1,217 1,021
Provision for income taxes (303) (237) (353) (277) (404) (264) (237) (254) (167) (197) (34) (240) (473) (423) (553) (512) (350) (284) (499) (45) (218) (195) (279) (229)
Net earnings from continuing operations 1,103 854 1,192 942 1,382 971 835 950 876 712 183 1,009 1,544 1,488 1,817 2,097 1,380 1,014 1,690 284 833 706 938 792
Discontinued operations, net of tax 1 8 3
Net earnings 1,103 854 1,192 942 1,382 971 835 950 876 712 183 1,009 1,544 1,488 1,817 2,097 1,380 1,014 1,690 284 834 714 938 795

Based on: 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).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Target Corp. revenue increased from Q2 2025 to Q3 2025 and from Q3 2025 to Q4 2025.
Operating income The net result for the period of deducting operating expenses from operating revenues. Target Corp. operating income decreased from Q2 2025 to Q3 2025 but then increased from Q3 2025 to Q4 2025 not reaching Q2 2025 level.
Earnings from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Target Corp. earnings from continuing operations before income taxes decreased from Q2 2025 to Q3 2025 but then increased from Q3 2025 to Q4 2025 not reaching Q2 2025 level.
Net earnings The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Target Corp. net earnings decreased from Q2 2025 to Q3 2025 but then increased from Q3 2025 to Q4 2025 not reaching Q2 2025 level.