Target Cash Flow Statement
NYSE: TGTConsumer DiscretionaryDepartment/Specialty Retail StoresUSD
At close: Oct 9, 4:03 PM ET · Delayed 15 min
Target free cash flow
In fiscal 2025, Target generated $6.56 billion of operating cash flow and spent $3.73 billion on capital expenditures. That left free cash flow of $2.83 billion, a free-cash-flow margin of 2.7% of revenue. Free cash flow was down 36.7% from the prior year's $4.48 billion.
Target returned $2.46 billion to shareholders: $2.05 billion in dividends and $408.0 million in share repurchases, equal to 87% of free cash flow. Free cash flow covered dividend payments 1.4 times.
Summary generated from market data by MetaCap's automated system. Methodology
Target cash flow statement (annual)
| Fiscal year (USD) | FY 20252026-01-31 | FY 20242025-02-01 | FY 20232024-02-03 | FY 20222023-01-28 | FY 20212022-01-29 | FY 20202021-01-30 | FY 20192020-02-01 | FY 20182019-02-02 | FY 20172018-02-03 | FY 20162017-01-28 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 3.71B | 4.09B | 4.14B | 2.78B | 6.95B | 4.37B | 3.28B | 2.94B | 2.91B | 2.73B |
| Net Income growth (YoY) | -9.44% | -1.14% | +48.85% | -59.98% | +59.02% | +33.13% | +11.71% | +0.79% | +6.58% | -18.70% |
| Depreciation & Amortization | 3.13B | 2.98B | 2.80B | 2.70B | 2.64B | 2.48B | 2.60B | 2.47B | 2.48B | 2.32B |
| Stock-Based Compensation | 281.00M | 304.00M | 251.00M | 220.00M | 228.00M | 200.00M | 147.00M | 132.00M | 112.00M | 113.00M |
| Change in Working Capital | -559.00M | -154.00M | 312.00M | -1.83B | -1.45B | 3.06B | 862.00M | 17.00M | 1.22B | -211.00M |
| Operating Cash Flow | 6.56B | 7.37B | 8.62B | 4.02B | 8.63B | 10.53B | 7.12B | 5.97B | 6.93B | 5.44B |
| Capital Expenditures | -3.73B | -2.89B | -4.81B | -5.53B | -3.54B | -2.65B | -3.03B | -3.52B | -2.53B | -1.55B |
| Investing Cash Flow | -3.65B | -2.86B | -4.76B | -5.50B | -3.15B | -2.59B | -2.94B | -3.42B | -3.08B | -1.47B |
| Dividends Paid | -2.05B | -2.05B | -2.01B | -1.84B | -1.55B | -1.34B | -1.33B | -1.33B | -1.34B | -1.35B |
| Share Repurchases | -408.00M | -1.01B | 0 | -2.65B | -7.19B | -745.00M | -1.56B | -2.12B | -1.05B | -3.71B |
| Debt Issued | 1.98B | 741.00M | 0 | 2.63B | 1.97B | 2.48B | 1.74B | 0 | 739.00M | 1.98B |
| Debt Repaid | -1.64B | -1.14B | -147.00M | -163.00M | -1.15B | -2.42B | -2.07B | -281.00M | -2.19B | -2.65B |
| Financing Cash Flow | -2.19B | -3.55B | -2.29B | -2.20B | -8.07B | -2.00B | -3.15B | -3.64B | -3.73B | -5.50B |
| Net Change in Cash | 726.00M | 957.00M | 1.58B | -3.68B | -2.60B | 5.93B | 1.02B | -1.09B | 131.00M | -1.53B |
| Free Cash Flow | 2.83B | 4.48B | 3.81B | -1.51B | 5.08B | 7.88B | 4.09B | 2.46B | 4.40B | 3.90B |
This table shows 10 annual periods of Target's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow TGT's reporting calendar. What is a cash flow statement?