Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Target Corp., solvency ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Target Corp. debt to equity ratio improved from Q1 2025 to Q2 2025 but then slightly deteriorated from Q2 2025 to Q3 2025. |
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Target Corp. debt to equity ratio (including operating lease liability) improved from Q1 2025 to Q2 2025 but then slightly deteriorated from Q2 2025 to Q3 2025. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Target Corp. debt to capital ratio improved from Q1 2025 to Q2 2025 but then slightly deteriorated from Q2 2025 to Q3 2025. |
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Target Corp. debt to capital ratio (including operating lease liability) improved from Q1 2025 to Q2 2025 but then slightly deteriorated from Q2 2025 to Q3 2025. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Target Corp. debt to assets ratio improved from Q1 2025 to Q2 2025 and from Q2 2025 to Q3 2025. |
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Target Corp. debt to assets ratio (including operating lease liability) improved from Q1 2025 to Q2 2025 and from Q2 2025 to Q3 2025. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Target Corp. financial leverage ratio decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 exceeding Q1 2025 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Target Corp. interest coverage ratio improved from Q1 2025 to Q2 2025 but then slightly deteriorated from Q2 2025 to Q3 2025. |
Debt to Equity
Target Corp., debt to equity calculation (quarterly data)
| 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 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and other borrowings | 1,635) | 1,640) | 2,614) | 1,116) | 1,112) | 1,106) | 200) | 130) | 2,207) | 1,649) | 1,089) | 171) | 1,176) | 1,190) | 1,173) | 1,144) | 131) | 109) | 168) | 161) | 1,159) | 1,153) | 1,056) | 1,052) | 1,535) | 1,044) | 283) | ||||||||
| Long-term debt and other borrowings, excluding current portion | 14,346) | 13,654) | 13,487) | 14,922) | 14,883) | 14,926) | 16,010) | 16,009) | 14,237) | 13,453) | 13,379) | 13,549) | 11,586) | 11,589) | 11,509) | 11,536) | 12,490) | 14,188) | 14,073) | 11,338) | 10,513) | 10,365) | 11,357) | 10,223) | 10,104) | 10,108) | 11,107) | ||||||||
| Total debt | 15,981) | 15,294) | 16,101) | 16,038) | 15,995) | 16,032) | 16,210) | 16,139) | 16,444) | 15,102) | 14,468) | 13,720) | 12,762) | 12,779) | 12,682) | 12,680) | 12,621) | 14,297) | 14,241) | 11,499) | 11,672) | 11,518) | 12,413) | 11,275) | 11,639) | 11,152) | 11,390) | ||||||||
| Shareholders’ investment | 14,489) | 14,429) | 13,840) | 13,432) | 12,514) | 11,990) | 11,605) | 11,232) | 11,019) | 10,592) | 10,774) | 12,827) | 13,803) | 14,860) | 14,959) | 14,440) | 13,319) | 12,578) | 11,169) | 11,833) | 11,545) | 11,836) | 11,117) | 11,297) | 11,080) | 11,167) | 11,158) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to equity1 | 1.10 | 1.06 | 1.16 | 1.19 | 1.28 | 1.34 | 1.40 | 1.44 | 1.49 | 1.43 | 1.34 | 1.07 | 0.92 | 0.86 | 0.85 | 0.88 | 0.95 | 1.14 | 1.28 | 0.97 | 1.01 | 0.97 | 1.12 | 1.00 | 1.05 | 1.00 | 1.02 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 0.24 | 0.25 | 0.32 | 0.33 | 0.27 | 0.26 | 0.28 | 0.29 | 0.30 | 0.32 | 0.33 | 0.34 | 0.40 | 0.43 | 0.46 | 0.49 | 0.51 | 0.42 | 0.54 | 0.34 | 0.43 | 0.45 | 0.45 | 0.47 | 0.49 | ||||||||
| Walmart Inc. | 0.54 | 0.56 | 0.62 | 0.56 | 0.70 | 0.63 | 0.68 | 0.58 | 0.71 | 0.65 | 0.68 | 0.51 | 0.52 | 0.58 | 0.62 | 0.60 | 0.62 | 0.69 | 0.85 | 0.73 | 0.82 | 0.81 | 0.85 | 0.80 | 0.85 | 0.76 | 0.61 | ||||||||
Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).
1 Q3 2025 Calculation
Debt to equity = Total debt ÷ Shareholders’ investment
= 15,981 ÷ 14,489 = 1.10
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Target Corp. debt to equity ratio improved from Q1 2025 to Q2 2025 but then slightly deteriorated from Q2 2025 to Q3 2025. |
Debt to Equity (including Operating Lease Liability)
Target Corp., debt to equity (including operating lease liability) calculation (quarterly data)
| 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 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and other borrowings | 1,635) | 1,640) | 2,614) | 1,116) | 1,112) | 1,106) | 200) | 130) | 2,207) | 1,649) | 1,089) | 171) | 1,176) | 1,190) | 1,173) | 1,144) | 131) | 109) | 168) | 161) | 1,159) | 1,153) | 1,056) | 1,052) | 1,535) | 1,044) | 283) | ||||||||
| Long-term debt and other borrowings, excluding current portion | 14,346) | 13,654) | 13,487) | 14,922) | 14,883) | 14,926) | 16,010) | 16,009) | 14,237) | 13,453) | 13,379) | 13,549) | 11,586) | 11,589) | 11,509) | 11,536) | 12,490) | 14,188) | 14,073) | 11,338) | 10,513) | 10,365) | 11,357) | 10,223) | 10,104) | 10,108) | 11,107) | ||||||||
| Total debt | 15,981) | 15,294) | 16,101) | 16,038) | 15,995) | 16,032) | 16,210) | 16,139) | 16,444) | 15,102) | 14,468) | 13,720) | 12,762) | 12,779) | 12,682) | 12,680) | 12,621) | 14,297) | 14,241) | 11,499) | 11,672) | 11,518) | 12,413) | 11,275) | 11,639) | 11,152) | 11,390) | ||||||||
| Noncurrent operating lease liabilities | 3,418) | 3,444) | 3,392) | 3,279) | 3,031) | 2,798) | 2,621) | 2,638) | 2,590) | 2,543) | 2,581) | 2,493) | 2,494) | 2,462) | 2,337) | 2,218) | 2,196) | 2,241) | 2,249) | 2,275) | 2,208) | 2,111) | 2,064) | 2,004) | 2,046) | 2,028) | 2,007) | ||||||||
| Total debt (including operating lease liability) | 19,399) | 18,738) | 19,493) | 19,317) | 19,026) | 18,830) | 18,831) | 18,777) | 19,034) | 17,645) | 17,049) | 16,213) | 15,256) | 15,241) | 15,019) | 14,898) | 14,817) | 16,538) | 16,490) | 13,774) | 13,880) | 13,629) | 14,477) | 13,279) | 13,685) | 13,180) | 13,397) | ||||||||
| Shareholders’ investment | 14,489) | 14,429) | 13,840) | 13,432) | 12,514) | 11,990) | 11,605) | 11,232) | 11,019) | 10,592) | 10,774) | 12,827) | 13,803) | 14,860) | 14,959) | 14,440) | 13,319) | 12,578) | 11,169) | 11,833) | 11,545) | 11,836) | 11,117) | 11,297) | 11,080) | 11,167) | 11,158) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to equity (including operating lease liability)1 | 1.34 | 1.30 | 1.41 | 1.44 | 1.52 | 1.57 | 1.62 | 1.67 | 1.73 | 1.67 | 1.58 | 1.26 | 1.11 | 1.03 | 1.00 | 1.03 | 1.11 | 1.31 | 1.48 | 1.16 | 1.20 | 1.15 | 1.30 | 1.18 | 1.24 | 1.18 | 1.20 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 0.33 | 0.35 | 0.43 | 0.45 | 0.36 | 0.35 | 0.38 | 0.40 | 0.42 | 0.44 | 0.45 | 0.48 | 0.55 | 0.58 | 0.62 | 0.66 | 0.69 | 0.56 | 0.69 | 0.48 | 0.58 | 0.45 | 0.45 | 0.47 | 0.49 | ||||||||
| Walmart Inc. | 0.70 | 0.73 | 0.79 | 0.73 | 0.88 | 0.81 | 0.88 | 0.77 | 0.90 | 0.84 | 0.87 | 0.69 | 0.70 | 0.76 | 0.80 | 0.78 | 0.84 | 0.92 | 1.11 | 0.97 | 1.06 | 1.06 | 1.11 | 0.80 | 0.85 | 0.76 | 0.61 | ||||||||
Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).
1 Q3 2025 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ investment
= 19,399 ÷ 14,489 = 1.34
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Target Corp. debt to equity ratio (including operating lease liability) improved from Q1 2025 to Q2 2025 but then slightly deteriorated from Q2 2025 to Q3 2025. |
Debt to Capital
Target Corp., debt to capital calculation (quarterly data)
| 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 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and other borrowings | 1,635) | 1,640) | 2,614) | 1,116) | 1,112) | 1,106) | 200) | 130) | 2,207) | 1,649) | 1,089) | 171) | 1,176) | 1,190) | 1,173) | 1,144) | 131) | 109) | 168) | 161) | 1,159) | 1,153) | 1,056) | 1,052) | 1,535) | 1,044) | 283) | ||||||||
| Long-term debt and other borrowings, excluding current portion | 14,346) | 13,654) | 13,487) | 14,922) | 14,883) | 14,926) | 16,010) | 16,009) | 14,237) | 13,453) | 13,379) | 13,549) | 11,586) | 11,589) | 11,509) | 11,536) | 12,490) | 14,188) | 14,073) | 11,338) | 10,513) | 10,365) | 11,357) | 10,223) | 10,104) | 10,108) | 11,107) | ||||||||
| Total debt | 15,981) | 15,294) | 16,101) | 16,038) | 15,995) | 16,032) | 16,210) | 16,139) | 16,444) | 15,102) | 14,468) | 13,720) | 12,762) | 12,779) | 12,682) | 12,680) | 12,621) | 14,297) | 14,241) | 11,499) | 11,672) | 11,518) | 12,413) | 11,275) | 11,639) | 11,152) | 11,390) | ||||||||
| Shareholders’ investment | 14,489) | 14,429) | 13,840) | 13,432) | 12,514) | 11,990) | 11,605) | 11,232) | 11,019) | 10,592) | 10,774) | 12,827) | 13,803) | 14,860) | 14,959) | 14,440) | 13,319) | 12,578) | 11,169) | 11,833) | 11,545) | 11,836) | 11,117) | 11,297) | 11,080) | 11,167) | 11,158) | ||||||||
| Total capital | 30,470) | 29,723) | 29,941) | 29,470) | 28,509) | 28,022) | 27,815) | 27,371) | 27,463) | 25,694) | 25,242) | 26,547) | 26,565) | 27,639) | 27,641) | 27,120) | 25,940) | 26,875) | 25,410) | 23,332) | 23,217) | 23,354) | 23,530) | 22,572) | 22,719) | 22,319) | 22,548) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to capital1 | 0.52 | 0.51 | 0.54 | 0.54 | 0.56 | 0.57 | 0.58 | 0.59 | 0.60 | 0.59 | 0.57 | 0.52 | 0.48 | 0.46 | 0.46 | 0.47 | 0.49 | 0.53 | 0.56 | 0.49 | 0.50 | 0.49 | 0.53 | 0.50 | 0.51 | 0.50 | 0.51 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 0.19 | 0.20 | 0.24 | 0.25 | 0.21 | 0.20 | 0.22 | 0.22 | 0.23 | 0.24 | 0.25 | 0.26 | 0.29 | 0.30 | 0.32 | 0.33 | 0.34 | 0.29 | 0.35 | 0.25 | 0.30 | 0.31 | 0.31 | 0.32 | 0.33 | ||||||||
| Walmart Inc. | 0.35 | 0.36 | 0.38 | 0.36 | 0.41 | 0.39 | 0.41 | 0.37 | 0.42 | 0.40 | 0.40 | 0.34 | 0.34 | 0.37 | 0.38 | 0.38 | 0.38 | 0.41 | 0.46 | 0.42 | 0.45 | 0.45 | 0.46 | 0.44 | 0.46 | 0.43 | 0.38 | ||||||||
Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).
1 Q3 2025 Calculation
Debt to capital = Total debt ÷ Total capital
= 15,981 ÷ 30,470 = 0.52
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Target Corp. debt to capital ratio improved from Q1 2025 to Q2 2025 but then slightly deteriorated from Q2 2025 to Q3 2025. |
Debt to Capital (including Operating Lease Liability)
Target Corp., debt to capital (including operating lease liability) calculation (quarterly data)
| 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 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and other borrowings | 1,635) | 1,640) | 2,614) | 1,116) | 1,112) | 1,106) | 200) | 130) | 2,207) | 1,649) | 1,089) | 171) | 1,176) | 1,190) | 1,173) | 1,144) | 131) | 109) | 168) | 161) | 1,159) | 1,153) | 1,056) | 1,052) | 1,535) | 1,044) | 283) | ||||||||
| Long-term debt and other borrowings, excluding current portion | 14,346) | 13,654) | 13,487) | 14,922) | 14,883) | 14,926) | 16,010) | 16,009) | 14,237) | 13,453) | 13,379) | 13,549) | 11,586) | 11,589) | 11,509) | 11,536) | 12,490) | 14,188) | 14,073) | 11,338) | 10,513) | 10,365) | 11,357) | 10,223) | 10,104) | 10,108) | 11,107) | ||||||||
| Total debt | 15,981) | 15,294) | 16,101) | 16,038) | 15,995) | 16,032) | 16,210) | 16,139) | 16,444) | 15,102) | 14,468) | 13,720) | 12,762) | 12,779) | 12,682) | 12,680) | 12,621) | 14,297) | 14,241) | 11,499) | 11,672) | 11,518) | 12,413) | 11,275) | 11,639) | 11,152) | 11,390) | ||||||||
| Noncurrent operating lease liabilities | 3,418) | 3,444) | 3,392) | 3,279) | 3,031) | 2,798) | 2,621) | 2,638) | 2,590) | 2,543) | 2,581) | 2,493) | 2,494) | 2,462) | 2,337) | 2,218) | 2,196) | 2,241) | 2,249) | 2,275) | 2,208) | 2,111) | 2,064) | 2,004) | 2,046) | 2,028) | 2,007) | ||||||||
| Total debt (including operating lease liability) | 19,399) | 18,738) | 19,493) | 19,317) | 19,026) | 18,830) | 18,831) | 18,777) | 19,034) | 17,645) | 17,049) | 16,213) | 15,256) | 15,241) | 15,019) | 14,898) | 14,817) | 16,538) | 16,490) | 13,774) | 13,880) | 13,629) | 14,477) | 13,279) | 13,685) | 13,180) | 13,397) | ||||||||
| Shareholders’ investment | 14,489) | 14,429) | 13,840) | 13,432) | 12,514) | 11,990) | 11,605) | 11,232) | 11,019) | 10,592) | 10,774) | 12,827) | 13,803) | 14,860) | 14,959) | 14,440) | 13,319) | 12,578) | 11,169) | 11,833) | 11,545) | 11,836) | 11,117) | 11,297) | 11,080) | 11,167) | 11,158) | ||||||||
| Total capital (including operating lease liability) | 33,888) | 33,167) | 33,333) | 32,749) | 31,540) | 30,820) | 30,436) | 30,009) | 30,053) | 28,237) | 27,823) | 29,040) | 29,059) | 30,101) | 29,978) | 29,338) | 28,136) | 29,116) | 27,659) | 25,607) | 25,425) | 25,465) | 25,594) | 24,576) | 24,765) | 24,347) | 24,555) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to capital (including operating lease liability)1 | 0.57 | 0.56 | 0.58 | 0.59 | 0.60 | 0.61 | 0.62 | 0.63 | 0.63 | 0.62 | 0.61 | 0.56 | 0.53 | 0.51 | 0.50 | 0.51 | 0.53 | 0.57 | 0.60 | 0.54 | 0.55 | 0.54 | 0.57 | 0.54 | 0.55 | 0.54 | 0.55 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 0.25 | 0.26 | 0.30 | 0.31 | 0.26 | 0.26 | 0.28 | 0.29 | 0.30 | 0.30 | 0.31 | 0.32 | 0.35 | 0.37 | 0.38 | 0.40 | 0.41 | 0.36 | 0.41 | 0.33 | 0.37 | 0.31 | 0.31 | 0.32 | 0.33 | ||||||||
| Walmart Inc. | 0.41 | 0.42 | 0.44 | 0.42 | 0.47 | 0.45 | 0.47 | 0.43 | 0.48 | 0.46 | 0.46 | 0.41 | 0.41 | 0.43 | 0.45 | 0.44 | 0.46 | 0.48 | 0.53 | 0.49 | 0.51 | 0.52 | 0.53 | 0.44 | 0.46 | 0.43 | 0.38 | ||||||||
Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).
1 Q3 2025 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 19,399 ÷ 33,888 = 0.57
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Target Corp. debt to capital ratio (including operating lease liability) improved from Q1 2025 to Q2 2025 but then slightly deteriorated from Q2 2025 to Q3 2025. |
Debt to Assets
Target Corp., debt to assets calculation (quarterly data)
| 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 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and other borrowings | 1,635) | 1,640) | 2,614) | 1,116) | 1,112) | 1,106) | 200) | 130) | 2,207) | 1,649) | 1,089) | 171) | 1,176) | 1,190) | 1,173) | 1,144) | 131) | 109) | 168) | 161) | 1,159) | 1,153) | 1,056) | 1,052) | 1,535) | 1,044) | 283) | ||||||||
| Long-term debt and other borrowings, excluding current portion | 14,346) | 13,654) | 13,487) | 14,922) | 14,883) | 14,926) | 16,010) | 16,009) | 14,237) | 13,453) | 13,379) | 13,549) | 11,586) | 11,589) | 11,509) | 11,536) | 12,490) | 14,188) | 14,073) | 11,338) | 10,513) | 10,365) | 11,357) | 10,223) | 10,104) | 10,108) | 11,107) | ||||||||
| Total debt | 15,981) | 15,294) | 16,101) | 16,038) | 15,995) | 16,032) | 16,210) | 16,139) | 16,444) | 15,102) | 14,468) | 13,720) | 12,762) | 12,779) | 12,682) | 12,680) | 12,621) | 14,297) | 14,241) | 11,499) | 11,672) | 11,518) | 12,413) | 11,275) | 11,639) | 11,152) | 11,390) | ||||||||
| Total assets | 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) | 42,779) | 43,741) | 41,566) | 40,619) | 41,290) | 43,572) | 39,996) | 38,929) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to assets1 | 0.27 | 0.27 | 0.29 | 0.29 | 0.28 | 0.30 | 0.31 | 0.30 | 0.30 | 0.29 | 0.28 | 0.25 | 0.23 | 0.25 | 0.25 | 0.25 | 0.25 | 0.30 | 0.32 | 0.27 | 0.27 | 0.28 | 0.31 | 0.27 | 0.27 | 0.28 | 0.29 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 0.08 | 0.08 | 0.10 | 0.10 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.11 | 0.12 | 0.13 | 0.13 | 0.14 | 0.13 | 0.14 | 0.18 | 0.11 | 0.13 | 0.15 | 0.15 | 0.15 | 0.15 | ||||||||
| Walmart Inc. | 0.18 | 0.18 | 0.20 | 0.19 | 0.21 | 0.20 | 0.20 | 0.18 | 0.21 | 0.21 | 0.21 | 0.17 | 0.18 | 0.19 | 0.20 | 0.19 | 0.20 | 0.22 | 0.25 | 0.23 | 0.24 | 0.24 | 0.25 | 0.26 | 0.27 | 0.26 | 0.23 | ||||||||
Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).
1 Q3 2025 Calculation
Debt to assets = Total debt ÷ Total assets
= 15,981 ÷ 58,531 = 0.27
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Target Corp. debt to assets ratio improved from Q1 2025 to Q2 2025 and from Q2 2025 to Q3 2025. |
Debt to Assets (including Operating Lease Liability)
Target Corp., debt to assets (including operating lease liability) calculation (quarterly data)
| 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 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and other borrowings | 1,635) | 1,640) | 2,614) | 1,116) | 1,112) | 1,106) | 200) | 130) | 2,207) | 1,649) | 1,089) | 171) | 1,176) | 1,190) | 1,173) | 1,144) | 131) | 109) | 168) | 161) | 1,159) | 1,153) | 1,056) | 1,052) | 1,535) | 1,044) | 283) | ||||||||
| Long-term debt and other borrowings, excluding current portion | 14,346) | 13,654) | 13,487) | 14,922) | 14,883) | 14,926) | 16,010) | 16,009) | 14,237) | 13,453) | 13,379) | 13,549) | 11,586) | 11,589) | 11,509) | 11,536) | 12,490) | 14,188) | 14,073) | 11,338) | 10,513) | 10,365) | 11,357) | 10,223) | 10,104) | 10,108) | 11,107) | ||||||||
| Total debt | 15,981) | 15,294) | 16,101) | 16,038) | 15,995) | 16,032) | 16,210) | 16,139) | 16,444) | 15,102) | 14,468) | 13,720) | 12,762) | 12,779) | 12,682) | 12,680) | 12,621) | 14,297) | 14,241) | 11,499) | 11,672) | 11,518) | 12,413) | 11,275) | 11,639) | 11,152) | 11,390) | ||||||||
| Noncurrent operating lease liabilities | 3,418) | 3,444) | 3,392) | 3,279) | 3,031) | 2,798) | 2,621) | 2,638) | 2,590) | 2,543) | 2,581) | 2,493) | 2,494) | 2,462) | 2,337) | 2,218) | 2,196) | 2,241) | 2,249) | 2,275) | 2,208) | 2,111) | 2,064) | 2,004) | 2,046) | 2,028) | 2,007) | ||||||||
| Total debt (including operating lease liability) | 19,399) | 18,738) | 19,493) | 19,317) | 19,026) | 18,830) | 18,831) | 18,777) | 19,034) | 17,645) | 17,049) | 16,213) | 15,256) | 15,241) | 15,019) | 14,898) | 14,817) | 16,538) | 16,490) | 13,774) | 13,880) | 13,629) | 14,477) | 13,279) | 13,685) | 13,180) | 13,397) | ||||||||
| Total assets | 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) | 42,779) | 43,741) | 41,566) | 40,619) | 41,290) | 43,572) | 39,996) | 38,929) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to assets (including operating lease liability)1 | 0.33 | 0.33 | 0.35 | 0.35 | 0.34 | 0.35 | 0.36 | 0.35 | 0.34 | 0.34 | 0.34 | 0.30 | 0.28 | 0.30 | 0.30 | 0.29 | 0.29 | 0.34 | 0.37 | 0.32 | 0.32 | 0.33 | 0.36 | 0.32 | 0.31 | 0.33 | 0.34 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 0.11 | 0.12 | 0.14 | 0.14 | 0.13 | 0.13 | 0.13 | 0.14 | 0.14 | 0.14 | 0.14 | 0.15 | 0.16 | 0.17 | 0.18 | 0.19 | 0.17 | 0.18 | 0.22 | 0.16 | 0.18 | 0.15 | 0.15 | 0.15 | 0.15 | ||||||||
| Walmart Inc. | 0.23 | 0.24 | 0.25 | 0.24 | 0.27 | 0.25 | 0.26 | 0.24 | 0.26 | 0.26 | 0.27 | 0.23 | 0.24 | 0.26 | 0.27 | 0.25 | 0.27 | 0.29 | 0.32 | 0.31 | 0.32 | 0.32 | 0.32 | 0.26 | 0.27 | 0.26 | 0.23 | ||||||||
Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).
1 Q3 2025 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 19,399 ÷ 58,531 = 0.33
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Target Corp. debt to assets ratio (including operating lease liability) improved from Q1 2025 to Q2 2025 and from Q2 2025 to Q3 2025. |
Financial Leverage
Target Corp., financial leverage calculation (quarterly data)
| 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 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Total assets | 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) | 42,779) | 43,741) | 41,566) | 40,619) | 41,290) | 43,572) | 39,996) | 38,929) | ||||||||
| Shareholders’ investment | 14,489) | 14,429) | 13,840) | 13,432) | 12,514) | 11,990) | 11,605) | 11,232) | 11,019) | 10,592) | 10,774) | 12,827) | 13,803) | 14,860) | 14,959) | 14,440) | 13,319) | 12,578) | 11,169) | 11,833) | 11,545) | 11,836) | 11,117) | 11,297) | 11,080) | 11,167) | 11,158) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Financial leverage1 | 4.04 | 3.88 | 3.98 | 4.12 | 4.49 | 4.44 | 4.49 | 4.75 | 5.05 | 4.95 | 4.72 | 4.20 | 3.94 | 3.46 | 3.37 | 3.55 | 3.80 | 3.82 | 4.01 | 3.62 | 3.79 | 3.51 | 3.65 | 3.65 | 3.93 | 3.58 | 3.49 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 3.00 | 2.96 | 3.12 | 3.19 | 2.82 | 2.75 | 2.83 | 2.93 | 3.08 | 3.11 | 3.20 | 3.25 | 3.47 | 3.37 | 3.47 | 3.51 | 4.05 | 3.04 | 3.08 | 2.94 | 3.24 | 2.98 | 3.02 | 3.09 | 3.33 | ||||||||
| Walmart Inc. | 2.99 | 3.01 | 3.13 | 3.01 | 3.26 | 3.21 | 3.38 | 3.17 | 3.43 | 3.19 | 3.20 | 2.94 | 2.98 | 2.96 | 3.02 | 3.12 | 3.08 | 3.15 | 3.41 | 3.17 | 3.35 | 3.34 | 3.44 | 3.02 | 3.15 | 2.89 | 2.71 | ||||||||
Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).
1 Q3 2025 Calculation
Financial leverage = Total assets ÷ Shareholders’ investment
= 58,531 ÷ 14,489 = 4.04
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Target Corp. financial leverage ratio decreased from Q1 2025 to Q2 2025 but then increased from Q2 2025 to Q3 2025 exceeding Q1 2025 level. |
Interest Coverage
Target Corp., interest coverage calculation (quarterly data)
| 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 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Net earnings | 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) | 798) | 622) | 799) | 718) | ||||||||
| Less: Discontinued operations, net of tax | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | 1) | 8) | —) | 3) | —) | 6) | —) | 1) | ||||||||
| Add: Income tax expense | 237) | 353) | 277) | 404) | 264) | 237) | 254) | 167) | 197) | 34) | 240) | 473) | 423) | 553) | 512) | 350) | 284) | 499) | 45) | 218) | 195) | 279) | 229) | 216) | 97) | 223) | 210) | ||||||||
| Add: Net interest expense | 105) | 110) | 106) | 107) | 107) | 141) | 147) | 129) | 125) | 112) | 112) | 104) | 105) | 104) | 108) | 106) | 632) | 122) | 117) | 118) | 113) | 120) | 126) | 110) | 115) | 115) | 121) | ||||||||
| Earnings before interest and tax (EBIT) | 1,196) | 1,655) | 1,325) | 1,893) | 1,342) | 1,213) | 1,351) | 1,172) | 1,034) | 329) | 1,361) | 2,121) | 2,016) | 2,474) | 2,717) | 1,836) | 1,930) | 2,311) | 446) | 1,169) | 1,014) | 1,337) | 1,147) | 1,124) | 828) | 1,137) | 1,048) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Interest coverage1 | 14.18 | 14.45 | 12.52 | 11.55 | 9.69 | 8.80 | 7.58 | 8.15 | 10.70 | 13.46 | 18.76 | 22.16 | 21.38 | 9.43 | 9.08 | 6.68 | 5.92 | 10.51 | 8.47 | 9.78 | 9.86 | 9.42 | 9.09 | 8.97 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 60.17 | 58.63 | 55.49 | 54.08 | 54.80 | 54.04 | 53.89 | 54.62 | 52.73 | 50.62 | 48.01 | 45.54 | 41.68 | 40.06 | 37.81 | 35.56 | 36.58 | 34.54 | 33.40 | 33.57 | 33.16 | 32.77 | — | — | — | ||||||||
| Walmart Inc. | 10.93 | 8.83 | 10.58 | 9.14 | 9.94 | 9.35 | 8.19 | 9.00 | 7.63 | 11.00 | 10.43 | 10.38 | 7.37 | 8.59 | 9.31 | 9.88 | 11.98 | 10.50 | 9.08 | 8.74 | 8.69 | 8.11 | 6.54 | 5.88 | — | — | — | ||||||||
Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).
1 Q3 2025 Calculation
Interest coverage
= (EBITQ3 2025
+ EBITQ2 2025
+ EBITQ1 2025
+ EBITQ4 2024)
÷ (Interest expenseQ3 2025
+ Interest expenseQ2 2025
+ Interest expenseQ1 2025
+ Interest expenseQ4 2024)
= (1,196 + 1,655 + 1,325 + 1,893)
÷ (105 + 110 + 106 + 107)
= 14.18
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Target Corp. interest coverage ratio improved from Q1 2025 to Q2 2025 but then slightly deteriorated from Q2 2025 to Q3 2025. |