Target Quarterly Income Statement
NYSE: TGTConsumer DiscretionaryDepartment/Specialty Retail StoresUSD
At close: Oct 9, 4:03 PM ET · Delayed 15 min
Target revenue and earnings
In the quarter ended Aug 1, 2026, Target generated $26.54 billion in revenue, up 5.3% from the same quarter a year earlier. Net income was $1.88 billion (+100.7% year over year), for a net margin of 7.1% versus a median of 3.4% in the prior 5 quarters. Gross margin was 33.7% (up from 29.0%) and operating margin 9.6%.
Diluted earnings per share came in at $4.11, up from $2.05.
Summary generated from market data by MetaCap's automated system. Methodology
Target income 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 26.54B | 25.44B | 30.45B | 25.27B | 25.21B | 23.85B | 30.91B | 25.67B | 25.45B | 24.53B | 31.92B | 25.40B |
| Revenue growth (YoY) | +5.27% | +6.70% | -1.49% | -1.55% | -0.95% | -2.79% | -3.15% | +1.06% | +2.74% | -3.12% | +1.67% | -4.22% |
| Cost of Revenue | 17.60B | 18.06B | 22.34B | 18.14B | 17.90B | 17.13B | 22.80B | 18.40B | 17.83B | 17.47B | 23.50B | 18.15B |
| Gross Profit | 8.94B | 7.38B | 8.11B | 7.13B | 7.31B | 6.72B | 8.11B | 7.27B | 7.63B | 7.06B | 8.42B | 7.25B |
| Operating Expenses | 6.38B | 6.25B | 6.73B | 6.18B | 5.99B | 5.25B | 6.65B | 6.10B | 5.99B | 5.76B | 6.56B | 5.93B |
| Selling, General & Admin | 5.72B | 5.56B | 6.05B | 5.54B | 5.36B | 4.59B | 6.00B | 5.46B | 5.37B | 5.15B | 5.94B | 5.32B |
| Operating Income | 2.56B | 1.14B | 1.38B | 948.00M | 1.32B | 1.47B | 1.47B | 1.17B | 1.64B | 1.30B | 1.86B | 1.32B |
| Interest Expense | 98.00M | 117.00M | 99.00M | 115.00M | 116.00M | 116.00M | 90.00M | 105.00M | 110.00M | 106.00M | 107.00M | 107.00M |
| Other Income (Expense) | -3.00M | 15.00M | 27.00M | 26.00M | 17.00M | 26.00M | 29.00M | 28.00M | 20.00M | 29.00M | 28.00M | 25.00M |
| Pretax Income | 2.46B | 1.03B | 1.31B | 859.00M | 1.22B | 1.38B | 1.41B | 1.09B | 1.54B | 1.22B | 1.79B | 1.24B |
| Income Tax | 582.00M | 252.00M | 263.00M | 170.00M | 283.00M | 346.00M | 303.00M | 237.00M | 353.00M | 277.00M | 404.00M | 264.00M |
| 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% |
| EPS (Basic) | 4.13 | 1.72 | 2.30 | 1.52 | 2.06 | 2.28 | 2.41 | 1.86 | 2.58 | 2.04 | 2.99 | 2.10 |
| EPS (Diluted) | 4.11 | 1.71 | 2.30 | 1.51 | 2.05 | 2.27 | 2.41 | 1.85 | 2.57 | 2.03 | 2.99 | 2.10 |
| Shares Outstanding (Basic) | 454.40M | 453.80M | — | 453.70M | 454.60M | 455.00M | — | 460.10M | 462.50M | 462.20M | — | 461.60M |
| Shares Outstanding (Diluted) | 456.60M | 455.80M | — | 455.10M | 455.60M | 456.50M | — | 461.50M | 463.50M | 463.90M | — | 462.60M |
| EBITDA | 3.34B | 1.95B | 2.18B | 1.72B | 2.09B | 2.26B | 2.23B | 1.92B | 2.38B | 2.01B | 2.59B | 2.04B |
| Gross Margin | 33.67% | 29.01% | 26.63% | 28.23% | 28.99% | 28.17% | 26.24% | 28.31% | 29.96% | 28.78% | 26.39% | 28.54% |
| Operating Margin | 9.65% | 4.46% | 4.53% | 3.75% | 5.22% | 6.17% | 4.75% | 4.55% | 6.42% | 5.28% | 5.84% | 5.19% |
| Net Margin | 7.07% | 3.07% | 3.43% | 2.73% | 3.71% | 4.34% | 3.57% | 3.33% | 4.68% | 3.84% | 4.33% | 3.82% |
This table shows 12 quarterly periods of Target's income statement, from Q2 2026 back to Q3 2023, across 19 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow TGT's reporting calendar. What is a income statement?