Analysis of Solvency Ratios
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
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
| 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 deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
| Debt to equity ratio (including operating lease liability) | 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) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Target Corp. debt to capital ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
| Debt to capital ratio (including operating lease liability) | 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) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Target Corp. debt to assets ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Debt to assets ratio (including operating lease liability) | 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) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Target Corp. financial leverage ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Target Corp. interest coverage ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Target Corp. fixed charge coverage ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Equity
Target Corp., debt to equity calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt and other borrowings | 1,116) | 130) | 171) | 1,144) | 161) | 1,052) | |
| Long-term debt and other borrowings, excluding current portion | 14,922) | 16,009) | 13,549) | 11,536) | 11,338) | 10,223) | |
| Total debt | 16,038) | 16,139) | 13,720) | 12,680) | 11,499) | 11,275) | |
| Shareholders’ investment | 13,432) | 11,232) | 12,827) | 14,440) | 11,833) | 11,297) | |
| Solvency Ratio | |||||||
| Debt to equity1 | 1.19 | 1.44 | 1.07 | 0.88 | 0.97 | 1.00 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Costco Wholesale Corp. | — | 0.31 | 0.40 | 0.49 | 0.45 | 0.48 | |
| Walmart Inc. | 0.56 | 0.58 | 0.51 | 0.60 | 0.73 | 0.80 | |
| Debt to Equity, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 0.61 | 0.55 | 0.62 | 0.71 | 0.77 | |
| Debt to Equity, Industry | |||||||
| Consumer Staples | — | 1.03 | 0.98 | 1.03 | 1.14 | 1.07 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to equity = Total debt ÷ Shareholders’ investment
= 16,038 ÷ 13,432 = 1.19
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 deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Debt to Equity (including Operating Lease Liability)
Target Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt and other borrowings | 1,116) | 130) | 171) | 1,144) | 161) | 1,052) | |
| Long-term debt and other borrowings, excluding current portion | 14,922) | 16,009) | 13,549) | 11,536) | 11,338) | 10,223) | |
| Total debt | 16,038) | 16,139) | 13,720) | 12,680) | 11,499) | 11,275) | |
| Current portion of operating lease liabilities | 329) | 296) | 254) | 211) | 200) | 166) | |
| Noncurrent operating lease liabilities | 3,279) | 2,638) | 2,493) | 2,218) | 2,275) | 2,004) | |
| Total debt (including operating lease liability) | 19,646) | 19,073) | 16,467) | 15,109) | 13,974) | 13,445) | |
| Shareholders’ investment | 13,432) | 11,232) | 12,827) | 14,440) | 11,833) | 11,297) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 1.46 | 1.70 | 1.28 | 1.05 | 1.18 | 1.19 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Costco Wholesale Corp. | — | 0.42 | 0.53 | 0.65 | 0.61 | 0.48 | |
| Walmart Inc. | 0.73 | 0.77 | 0.69 | 0.78 | 0.97 | 0.80 | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Consumer Staples Distribution & Retail | — | 0.78 | 0.73 | 0.79 | 0.93 | 0.79 | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Consumer Staples | — | 1.14 | 1.10 | 1.14 | 1.28 | 1.09 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ investment
= 19,646 ÷ 13,432 = 1.46
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | 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) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Debt to Capital
Target Corp., debt to capital calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt and other borrowings | 1,116) | 130) | 171) | 1,144) | 161) | 1,052) | |
| Long-term debt and other borrowings, excluding current portion | 14,922) | 16,009) | 13,549) | 11,536) | 11,338) | 10,223) | |
| Total debt | 16,038) | 16,139) | 13,720) | 12,680) | 11,499) | 11,275) | |
| Shareholders’ investment | 13,432) | 11,232) | 12,827) | 14,440) | 11,833) | 11,297) | |
| Total capital | 29,470) | 27,371) | 26,547) | 27,120) | 23,332) | 22,572) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.54 | 0.59 | 0.52 | 0.47 | 0.49 | 0.50 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Costco Wholesale Corp. | — | 0.24 | 0.28 | 0.33 | 0.31 | 0.32 | |
| Walmart Inc. | 0.36 | 0.37 | 0.34 | 0.38 | 0.42 | 0.44 | |
| Debt to Capital, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 0.38 | 0.36 | 0.38 | 0.41 | 0.44 | |
| Debt to Capital, Industry | |||||||
| Consumer Staples | — | 0.51 | 0.50 | 0.51 | 0.53 | 0.52 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 16,038 ÷ 29,470 = 0.54
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 deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Debt to Capital (including Operating Lease Liability)
Target Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt and other borrowings | 1,116) | 130) | 171) | 1,144) | 161) | 1,052) | |
| Long-term debt and other borrowings, excluding current portion | 14,922) | 16,009) | 13,549) | 11,536) | 11,338) | 10,223) | |
| Total debt | 16,038) | 16,139) | 13,720) | 12,680) | 11,499) | 11,275) | |
| Current portion of operating lease liabilities | 329) | 296) | 254) | 211) | 200) | 166) | |
| Noncurrent operating lease liabilities | 3,279) | 2,638) | 2,493) | 2,218) | 2,275) | 2,004) | |
| Total debt (including operating lease liability) | 19,646) | 19,073) | 16,467) | 15,109) | 13,974) | 13,445) | |
| Shareholders’ investment | 13,432) | 11,232) | 12,827) | 14,440) | 11,833) | 11,297) | |
| Total capital (including operating lease liability) | 33,078) | 30,305) | 29,294) | 29,549) | 25,807) | 24,742) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.59 | 0.63 | 0.56 | 0.51 | 0.54 | 0.54 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Costco Wholesale Corp. | — | 0.30 | 0.35 | 0.39 | 0.38 | 0.32 | |
| Walmart Inc. | 0.42 | 0.43 | 0.41 | 0.44 | 0.49 | 0.44 | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Consumer Staples Distribution & Retail | — | 0.44 | 0.42 | 0.44 | 0.48 | 0.44 | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Consumer Staples | — | 0.53 | 0.52 | 0.53 | 0.56 | 0.52 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 19,646 ÷ 33,078 = 0.59
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | 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) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Debt to Assets
Target Corp., debt to assets calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt and other borrowings | 1,116) | 130) | 171) | 1,144) | 161) | 1,052) | |
| Long-term debt and other borrowings, excluding current portion | 14,922) | 16,009) | 13,549) | 11,536) | 11,338) | 10,223) | |
| Total debt | 16,038) | 16,139) | 13,720) | 12,680) | 11,499) | 11,275) | |
| Total assets | 55,356) | 53,335) | 53,811) | 51,248) | 42,779) | 41,290) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.29 | 0.30 | 0.25 | 0.25 | 0.27 | 0.27 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Costco Wholesale Corp. | — | 0.11 | 0.13 | 0.14 | 0.15 | 0.16 | |
| Walmart Inc. | 0.19 | 0.18 | 0.17 | 0.19 | 0.23 | 0.26 | |
| Debt to Assets, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 0.19 | 0.18 | 0.19 | 0.22 | 0.25 | |
| Debt to Assets, Industry | |||||||
| Consumer Staples | — | 0.30 | 0.29 | 0.30 | 0.33 | 0.33 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 16,038 ÷ 55,356 = 0.29
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 deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Debt to Assets (including Operating Lease Liability)
Target Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt and other borrowings | 1,116) | 130) | 171) | 1,144) | 161) | 1,052) | |
| Long-term debt and other borrowings, excluding current portion | 14,922) | 16,009) | 13,549) | 11,536) | 11,338) | 10,223) | |
| Total debt | 16,038) | 16,139) | 13,720) | 12,680) | 11,499) | 11,275) | |
| Current portion of operating lease liabilities | 329) | 296) | 254) | 211) | 200) | 166) | |
| Noncurrent operating lease liabilities | 3,279) | 2,638) | 2,493) | 2,218) | 2,275) | 2,004) | |
| Total debt (including operating lease liability) | 19,646) | 19,073) | 16,467) | 15,109) | 13,974) | 13,445) | |
| Total assets | 55,356) | 53,335) | 53,811) | 51,248) | 42,779) | 41,290) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.35 | 0.36 | 0.31 | 0.29 | 0.33 | 0.33 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Costco Wholesale Corp. | — | 0.15 | 0.17 | 0.19 | 0.20 | 0.16 | |
| Walmart Inc. | 0.24 | 0.24 | 0.23 | 0.25 | 0.31 | 0.26 | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Consumer Staples Distribution & Retail | — | 0.24 | 0.23 | 0.25 | 0.29 | 0.26 | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Consumer Staples | — | 0.33 | 0.32 | 0.33 | 0.36 | 0.33 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 19,646 ÷ 55,356 = 0.35
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | 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) deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Financial Leverage
Target Corp., financial leverage calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | 55,356) | 53,335) | 53,811) | 51,248) | 42,779) | 41,290) | |
| Shareholders’ investment | 13,432) | 11,232) | 12,827) | 14,440) | 11,833) | 11,297) | |
| Solvency Ratio | |||||||
| Financial leverage1 | 4.12 | 4.75 | 4.20 | 3.55 | 3.62 | 3.65 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Costco Wholesale Corp. | — | 2.75 | 3.11 | 3.37 | 3.04 | 2.98 | |
| Walmart Inc. | 3.01 | 3.17 | 2.94 | 3.12 | 3.17 | 3.02 | |
| Financial Leverage, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 3.24 | 3.11 | 3.21 | 3.20 | 3.09 | |
| Financial Leverage, Industry | |||||||
| Consumer Staples | — | 3.47 | 3.40 | 3.45 | 3.50 | 3.28 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Financial leverage = Total assets ÷ Shareholders’ investment
= 55,356 ÷ 13,432 = 4.12
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 increased from 2022 to 2023 but then decreased significantly from 2023 to 2024. |
Interest Coverage
Target Corp., interest coverage calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net earnings | 4,138) | 2,780) | 6,946) | 4,368) | 3,281) | 2,937) | |
| Less: Discontinued operations, net of tax | —) | —) | —) | —) | 12) | 7) | |
| Add: Income tax expense | 1,159) | 638) | 1,961) | 1,178) | 921) | 746) | |
| Add: Net interest expense | 502) | 478) | 421) | 977) | 477) | 461) | |
| Earnings before interest and tax (EBIT) | 5,799) | 3,896) | 9,328) | 6,523) | 4,667) | 4,137) | |
| Solvency Ratio | |||||||
| Interest coverage1 | 11.55 | 8.15 | 22.16 | 6.68 | 9.78 | 8.97 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Costco Wholesale Corp. | — | 54.04 | 50.62 | 40.06 | 34.54 | 32.77 | |
| Walmart Inc. | 9.14 | 9.00 | 10.38 | 9.88 | 8.74 | 5.88 | |
| Interest Coverage, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 11.46 | 14.77 | 10.47 | 10.17 | 7.73 | |
| Interest Coverage, Industry | |||||||
| Consumer Staples | — | 11.88 | 14.21 | 10.01 | 10.46 | 7.90 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 5,799 ÷ 502 = 11.55
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 deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Fixed Charge Coverage
Target Corp., fixed charge coverage calculation, comparison to benchmarks
| Feb 3, 2024 | Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net earnings | 4,138) | 2,780) | 6,946) | 4,368) | 3,281) | 2,937) | |
| Less: Discontinued operations, net of tax | —) | —) | —) | —) | 12) | 7) | |
| Add: Income tax expense | 1,159) | 638) | 1,961) | 1,178) | 921) | 746) | |
| Add: Net interest expense | 502) | 478) | 421) | 977) | 477) | 461) | |
| Earnings before interest and tax (EBIT) | 5,799) | 3,896) | 9,328) | 6,523) | 4,667) | 4,137) | |
| Add: Operating lease cost | 550) | 467) | 387) | 332) | 287) | 251) | |
| Earnings before fixed charges and tax | 6,349) | 4,363) | 9,715) | 6,855) | 4,954) | 4,388) | |
| Net interest expense | 502) | 478) | 421) | 977) | 477) | 461) | |
| Operating lease cost | 550) | 467) | 387) | 332) | 287) | 251) | |
| Fixed charges | 1,052) | 945) | 808) | 1,309) | 764) | 712) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 6.04 | 4.62 | 12.02 | 5.24 | 6.48 | 6.16 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Costco Wholesale Corp. | — | 19.10 | 18.23 | 15.30 | 14.03 | 12.40 | |
| Walmart Inc. | 5.40 | 4.84 | 5.38 | 5.16 | 4.82 | 3.14 | |
| Fixed Charge Coverage, Sector | |||||||
| Consumer Staples Distribution & Retail | — | 5.95 | 7.41 | 5.88 | 5.60 | 4.07 | |
| Fixed Charge Coverage, Industry | |||||||
| Consumer Staples | — | 7.71 | 8.59 | 6.77 | 6.80 | 5.01 | |
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
1 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 6,349 ÷ 1,052 = 6.04
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Target Corp. fixed charge coverage ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |