Target Quarterly 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 the quarter ended Aug 1, 2026, Target generated $3.80 billion of operating cash flow and spent $1.37 billion on capital expenditures. That left free cash flow of $2.43 billion, a free-cash-flow margin of 9.2% of revenue. Free cash flow was up 141.2% from the prior year's $1.01 billion.
Target returned $521.0 million to shareholders: $518.0 million in dividends and $3.0 million in share repurchases, equal to 21% of free cash flow. Free cash flow covered dividend payments 4.7 times.
Summary generated from market data by MetaCap's automated system. Methodology
Target cash flow statement (quarterly)
| Quarter (USD) | Q2 20262026-08-01 | Q1 20262026-05-02 | Q4 20252026-01-31 | Q3 20252025-11-01 | Q2 20252025-08-02 | Q1 20252025-05-03 | Q4 20242025-02-01 | Q3 20242024-11-02 | Q2 20242024-08-03 | Q1 20242024-05-04 | Q4 20232024-02-03 | Q3 20232023-10-28 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 1.88B | 781.00M | 1.05B | 689.00M | 935.00M | 1.04B | 1.10B | 854.00M | 1.19B | 942.00M | 1.38B | 971.00M |
| Net Income growth (YoY) | +100.75% | -24.61% | -5.17% | -19.32% | -21.56% | +9.98% | -20.19% | -12.05% | +42.75% | -0.84% | +57.76% | +36.38% |
| Depreciation & Amortization | 784.00M | 813.00M | 803.00M | 773.00M | 771.00M | 787.00M | 766.00M | 754.00M | 743.00M | 718.00M | 729.00M | 722.00M |
| Stock-Based Compensation | 100.00M | 54.00M | 84.00M | 64.00M | 64.00M | 69.00M | 75.00M | 80.00M | 77.00M | 72.00M | 75.00M | 69.00M |
| Change in Working Capital | 344.00M | -655.00M | 1.43B | -232.00M | 391.00M | -1.51B | 1.07B | -721.00M | 172.00M | -368.00M | 742.00M | -23.00M |
| Operating Cash Flow | 3.80B | 716.00M | 3.08B | 1.13B | 2.08B | 275.00M | 3.29B | 739.00M | 2.24B | 1.10B | 3.29B | 1.93B |
| Capital Expenditures | -1.37B | -1.03B | -885.00M | -978.00M | -1.07B | -790.00M | -923.00M | -655.00M | -639.00M | -674.00M | -854.00M | -1.13B |
| Investing Cash Flow | -1.36B | -1.03B | -859.00M | -937.00M | -1.07B | -787.00M | -918.00M | -637.00M | -634.00M | -671.00M | -850.00M | -1.09B |
| Dividends Paid | -518.00M | -516.00M | -516.00M | -518.00M | -509.00M | -510.00M | -513.00M | -516.00M | -509.00M | -508.00M | -508.00M | -507.00M |
| Share Repurchases | -3.00M | 0 | 0 | -150.00M | -8.00M | -250.00M | -501.00M | -351.00M | -155.00M | 0 | 0 | 0 |
| Debt Issued | 0 | 0 | 0 | 0 | 993.00M | 991.00M | 0 | 741.00M | 0 | 0 | 0 | — |
| Debt Repaid | -38.00M | -1.03B | -34.00M | -38.00M | -37.00M | -1.53B | -27.00M | -36.00M | -1.04B | -32.00M | -33.00M | -42.00M |
| Financing Cash Flow | -562.00M | -1.64B | -552.00M | -709.00M | 437.00M | -1.36B | -1.04B | -166.00M | -1.71B | -631.00M | -544.00M | -552.00M |
| Net Change in Cash | 1.88B | -1.95B | 1.67B | -519.00M | 1.45B | -1.88B | 1.33B | -64.00M | -107.00M | -201.00M | 1.90B | 293.00M |
| Free Cash Flow | 2.43B | -319.00M | 2.19B | 149.00M | 1.01B | -515.00M | 2.37B | 84.00M | 1.60B | 427.00M | 2.44B | 807.00M |
This table shows 12 quarterly periods of Target's cash flow statement, from Q2 2026 back to Q3 2023, 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?