Price to Earnings (P/E)
since 2005
Calculation
TJX Cos. Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 31, 2026 | 32.17 | = | 159.70 | ÷ | 4.96 | 4.96 | = | 5,494 | ÷ | 1,106,810,654 | |
| Apr 2, 2025 | 28.69 | = | 124.93 | ÷ | 4.35 | 4.35 | = | 4,864 | ÷ | 1,117,100,487 | |
| Apr 3, 2024 | 24.63 | = | 97.28 | ÷ | 3.95 | 3.95 | = | 4,474 | ÷ | 1,132,973,879 | |
| Mar 29, 2023 | 25.22 | = | 76.55 | ÷ | 3.03 | 3.03 | = | 3,498 | ÷ | 1,152,568,938 | |
| Mar 30, 2022 | 22.20 | = | 62.00 | ÷ | 2.79 | 2.79 | = | 3,283 | ÷ | 1,175,228,119 | |
| Mar 31, 2021 | 881.78 | = | 66.15 | ÷ | 0.08 | 0.08 | = | 90 | ÷ | 1,205,970,255 | |
| Mar 27, 2020 | 17.13 | = | 46.80 | ÷ | 2.73 | 2.73 | = | 3,272 | ÷ | 1,197,698,188 | |
| Apr 3, 2019 | 21.11 | = | 53.17 | ÷ | 2.52 | 2.52 | = | 3,060 | ÷ | 1,214,588,500 | |
| Apr 4, 2018 | 20.19 | = | 41.99 | ÷ | 2.08 | 2.08 | = | 2,608 | ÷ | 1,254,144,756 | |
| Mar 28, 2017 | 22.11 | = | 39.36 | ÷ | 1.78 | 1.78 | = | 2,298 | ÷ | 1,291,179,744 | |
| Mar 29, 2016 | 22.87 | = | 39.31 | ÷ | 1.72 | 1.72 | = | 2,278 | ÷ | 1,325,182,408 | |
| Mar 31, 2015 | 21.62 | = | 35.03 | ÷ | 1.62 | 1.62 | = | 2,215 | ÷ | 1,366,947,134 | |
| Apr 1, 2014 | 20.15 | = | 30.60 | ÷ | 1.52 | 1.52 | = | 2,137 | ÷ | 1,407,366,548 | |
| Apr 2, 2013 | 17.99 | = | 23.69 | ÷ | 1.32 | 1.32 | = | 1,907 | ÷ | 1,447,804,002 | |
| Mar 27, 2012 | 19.73 | = | 19.77 | ÷ | 1.00 | 1.00 | = | 1,496 | ÷ | 1,493,404,056 | |
| Mar 30, 2011 | 14.54 | = | 12.53 | ÷ | 0.86 | 0.86 | = | 1,343 | ÷ | 1,558,629,360 | |
| Mar 30, 2010 | 14.57 | = | 10.80 | ÷ | 0.74 | 0.74 | = | 1,214 | ÷ | 1,637,544,504 | |
| Mar 31, 2009 | 12.02 | = | 6.41 | ÷ | 0.53 | 0.53 | = | 881 | ÷ | 1,651,286,368 | |
| Mar 26, 2008 | 18.61 | = | 8.39 | ÷ | 0.45 | 0.45 | = | 772 | ÷ | 1,711,798,132 | |
| Mar 28, 2007 | 16.30 | = | 6.63 | ÷ | 0.41 | 0.41 | = | 738 | ÷ | 1,814,599,252 | |
| Mar 29, 2006 | 16.91 | = | 6.33 | ÷ | 0.37 | 0.37 | = | 690 | ÷ | 1,843,868,240 | |
| Mar 30, 2005 | 17.81 | = | 6.15 | ÷ | 0.35 | 0.35 | = | 664 | ÷ | 1,922,796,616 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 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), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of TJX Cos. Inc. Annual Report.
The price-to-earnings (P/E) ratio, calculated from the provided share price and earnings per share figures, exhibits considerable fluctuation over the observed period. Initially, from 2005 through 2008, the P/E ratio remained relatively stable, fluctuating between approximately 12 and 19. A dip to a low of 12.02 was observed in 2009, coinciding with a period of economic uncertainty. Subsequently, the ratio experienced an increase, peaking at 19.73 in 2012, before stabilizing in the range of 20 to 25 between 2013 and 2016.
A significant outlier occurred in 2020, with the P/E ratio reaching an exceptionally high value of 881.78. This dramatic increase was driven by a substantial decline in earnings per share, while the share price remained relatively stable. Following 2020, the P/E ratio returned to a more typical range, fluctuating between 22.20 and 32.17 from 2021 to 2024. A general upward trend in the P/E ratio is apparent in the most recent years of the observation period.
- P/E Ratio Trend (2005-2008)
- The P/E ratio demonstrated a moderate level of volatility, remaining within a relatively narrow band. This suggests a consistent investor valuation of the company’s earnings during this period.
- P/E Ratio Impact of 2009 Economic Conditions
- The decrease in the P/E ratio in 2009 likely reflects investor concerns related to the broader economic downturn, leading to a reduced valuation of future earnings.
- P/E Ratio Anomaly in 2020
- The exceptionally high P/E ratio in 2020 is attributable to a disproportionate decrease in earnings per share. This indicates that investors were willing to pay a significantly higher price for each dollar of earnings due to the unusual circumstances affecting profitability.
- P/E Ratio Recent Trend (2021-2025)
- The P/E ratio has shown an increasing trend in recent years, potentially indicating growing investor confidence or expectations of future earnings growth. The ratio’s movement from 22.20 to 32.17 suggests a strengthening of the company’s valuation.
Overall, the P/E ratio has exhibited a dynamic pattern over the period, influenced by both company-specific performance and broader economic factors. The substantial deviation in 2020 warrants particular attention, while the recent upward trend suggests a positive shift in investor sentiment.
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Comparison to Competitors
TJX Cos. Inc., P/E, long-term trends, comparison to competitors
| TJX Cos. Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | |
|---|---|---|---|---|
| Mar 31, 2026 | 32.17 | — | 23.28 | 19.72 |
| Apr 2, 2025 | 28.69 | 29.07 | 23.58 | 18.74 |
| Apr 3, 2024 | 24.63 | 40.99 | 24.80 | 18.81 |
| Mar 29, 2023 | 25.22 | 58.66 | 17.09 | 17.65 |
| Mar 30, 2022 | 22.20 | — | 19.94 | 17.84 |
| Mar 31, 2021 | 881.78 | 48.08 | 24.51 | 22.36 |
| Mar 27, 2020 | 17.13 | 78.20 | 17.38 | 11.96 |
| Apr 3, 2019 | 21.11 | 86.30 | 18.87 | 37.80 |
| Apr 4, 2018 | 20.19 | 79.30 | 23.51 | 20.26 |
| Mar 28, 2017 | 22.11 | 228.25 | 22.37 | 22.62 |
| Mar 29, 2016 | 22.87 | 166.52 | 23.32 | 26.67 |
| Mar 31, 2015 | 21.62 | 463.73 | 23.15 | 26.24 |
| Apr 1, 2014 | 20.15 | — | 20.18 | 21.79 |
| Apr 2, 2013 | 17.99 | 601.07 | 22.86 | 21.13 |
| Mar 27, 2012 | 19.73 | — | 19.49 | 20.46 |
| Mar 30, 2011 | 14.54 | 129.38 | 18.15 | 17.66 |
| Mar 30, 2010 | 14.57 | 67.02 | 20.76 | 19.70 |
| Mar 31, 2009 | 12.02 | 61.80 | 18.59 | 12.26 |
| Mar 26, 2008 | 18.61 | 39.07 | 11.24 | 12.74 |
| Mar 28, 2007 | 16.30 | 65.85 | 12.59 | 15.42 |
| Mar 29, 2006 | 16.91 | 88.17 | 15.57 | 18.31 |
| Mar 30, 2005 | 17.81 | 45.52 | 16.29 | 19.15 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 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), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
TJX Cos. Inc., P/E, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| TJX Cos. Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Mar 31, 2026 | 32.17 | — |
| Apr 2, 2025 | 28.69 | 27.58 |
| Apr 3, 2024 | 24.63 | 35.33 |
| Mar 29, 2023 | 25.22 | 39.66 |
| Mar 30, 2022 | 22.20 | 63.32 |
| Mar 31, 2021 | 881.78 | 40.84 |
| Mar 27, 2020 | 17.13 | 49.11 |
| Apr 3, 2019 | 21.11 | 48.49 |
| Apr 4, 2018 | 20.19 | 45.41 |
| Mar 28, 2017 | 22.11 | 60.50 |
| Mar 29, 2016 | 22.87 | 47.75 |
| Mar 31, 2015 | 21.62 | 45.72 |
| Apr 1, 2014 | 20.15 | 38.28 |
| Apr 2, 2013 | 17.99 | 39.66 |
| Mar 27, 2012 | 19.73 | 37.17 |
| Mar 30, 2011 | 14.54 | 26.94 |
| Mar 30, 2010 | 14.57 | 27.21 |
| Mar 31, 2009 | 12.02 | 21.68 |
| Mar 26, 2008 | 18.61 | 14.47 |
| Mar 28, 2007 | 16.30 | 16.25 |
| Mar 29, 2006 | 16.91 | 17.92 |
| Mar 30, 2005 | 17.81 | 18.45 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 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), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Industry (Consumer Discretionary)
TJX Cos. Inc., P/E, long-term trends, comparison to industry (consumer discretionary)
| TJX Cos. Inc. | Consumer Discretionary | |
|---|---|---|
| Mar 31, 2026 | 32.17 | — |
| Apr 2, 2025 | 28.69 | 96.58 |
| Apr 3, 2024 | 24.63 | 112.42 |
| Mar 29, 2023 | 25.22 | 33.63 |
| Mar 30, 2022 | 22.20 | 46.01 |
| Mar 31, 2021 | 881.78 | 39.27 |
| Mar 27, 2020 | 17.13 | 73.74 |
| Apr 3, 2019 | 21.11 | 39.37 |
| Apr 4, 2018 | 20.19 | 33.13 |
| Mar 28, 2017 | 22.11 | 47.03 |
| Mar 29, 2016 | 22.87 | 29.19 |
| Mar 31, 2015 | 21.62 | 24.70 |
| Apr 1, 2014 | 20.15 | 29.48 |
| Apr 2, 2013 | 17.99 | 26.50 |
| Mar 27, 2012 | 19.73 | 20.90 |
| Mar 30, 2011 | 14.54 | 11.38 |
| Mar 30, 2010 | 14.57 | 17.54 |
| Mar 31, 2009 | 12.02 | 18.66 |
| Mar 26, 2008 | 18.61 | 303.41 |
| Mar 28, 2007 | 16.30 | 24.33 |
| Mar 29, 2006 | 16.91 | 117.34 |
| Mar 30, 2005 | 17.81 | 17.54 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 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), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).