Target Corporation

TGTNYSEConsumer Defensive● Active

$122.57

$-1.28(-1.03%)

Market Cap$55.7B

P/E Ratio—

52W High$133.1

52W Low$83.44

Avg Volume5.5M

Open$124.00

Beta0.99

Free Cash Flow Financials Revenue

Target Corporation (TGT) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

TGT · free cash flow · updated Jun 8, 2026

Core FCF metrics

TGT · FCF · TTM · margin & CAGR

Free cash flow was $2.83B for FY2026 (fiscal year ending 2026-01-31), down 36.7% year-over-year The FCF margin was 2.7%. Five-year CAGR stands at -18.5%.

FY2026 Free Cash Flow$2.83B▼ -36.7% YoY

Trailing 12M (TTM)$4.16Btrailing 4 quarters sum

FCF Margin2.7%$2.83B ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGR-18.5%FY2021 → FY2026

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

TGT · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2026Latest$6.56B(3.73B)$2.83B▼ 36.7%2.7%

FY2025$7.37B(2.89B)$4.48B▲ +17.3%4.2%

FY2024$8.62B(4.81B)$3.81B▲ +352.6%3.5%

FY2023$4.02B(5.53B)−$1.51B▼ 129.7%-1.4%

FY2022$8.63B(3.54B)$5.08B▼ 35.5%4.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

TGT · P/FCF · FCF yield · FCF per share

Target Corporation (TGT) trades at a FCF yield of 7.47% and a price-to-free-cash-flow ratio of 13.4x. FCF per share stands at $9.16, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

7.47%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$9.16

TTM FCF ÷ Shares Outstanding

Price / FCF

x13.4

Share Price ÷ FCF per Share

EV / FCF (TTM)

x13.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2026 · 2026-01-31

Cash flow statement summary

TGT · cash flow statement · operating / investing / financing

For FY2026, Target Corporation generated $6.56B in operating cash flow and spent 3.73B in capital expenditures, yielding $2.83B in free cash flow.

Operating Activities

+$6.56B

Cash from core business operations

2026-01-31

Investing Activities

−$3.65B

CapEx, acquisitions & investments

2026-01-31

Financing Activities

−$2.19B

Buybacks, dividends & debt

2026-01-31

FCF FormulaOperating CF ($6.56B) − |CapEx| (3.73B) = FCF ($2.83B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Defensive)

TGT vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Target CorporationYOU

TGT

$2.83B-36.7%2.7%

19%

The Procter & Gamble Company

$14.04B-15.0%16.7%

94%

Philip Morris International Inc.

$10.66B-1.0%26.2%

71%

Costco Wholesale Corporation

COST

$7.84B+18.2%2.8%

53%

The Coca-Cola Company

$5.30B+11.7%11.0%

35%

Consumer Defensive · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Target Corporation (TGT) reported free cash flow of $2.83B for FY2026 (fiscal year ending 2026-01-31), down 36.7% year-over-year. The FCF margin was 2.7%.

Based on available data, Target Corporation has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $7.88B in FY2021. The 5-year CAGR stands at -18.5%.

Target Corporation's FCF yield is 7.47% and price-to-FCF ratio is 13.4x for FY2026, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

TGT free cash flow · 8 questions

Target Corporation free cash flow was $2.83B for FY2026, down 36.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $4.16B.

TGT free cash flowTGT FCFTGT FCF 2026TGT free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Target Corporation · Target Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026