Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

TJX Cos. Inc., EBITDA calculation

US$ in millions

12 months ended:	Feb 1, 2025	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020
Net income	4,864)	4,474)	3,498)	3,283)	90)	3,272)
Add: Income tax expense	1,619)	1,493)	1,138)	1,115)	(1)	1,134)
Earnings before tax (EBT)	6,483)	5,967)	4,636)	4,398)	89)	4,406)
Add: Interest expense, excluding capitalized interest	76)	79)	84)	120)	194)	59)
Earnings before interest and tax (EBIT)	6,559)	6,046)	4,720)	4,517)	283)	4,465)
Add: Depreciation and amortization	1,104)	964)	887)	868)	871)	867)
Earnings before interest, tax, depreciation and amortization (EBITDA)	7,663)	7,010)	5,607)	5,385)	1,154)	5,333)

Based on: 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).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	TJX Cos. Inc. EBITDA increased from 2023 to 2024 and from 2024 to 2025.

TJX Cos. Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in millions)
Enterprise value (EV)	135,767)
Earnings before interest, tax, depreciation and amortization (EBITDA)	7,663)
Valuation Ratio
EV/EBITDA	17.72
Benchmarks
EV/EBITDA, Competitors¹
Amazon.com Inc.	17.93
Home Depot Inc.	15.87
Lowe’s Cos. Inc.	12.31
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail	17.14
EV/EBITDA, Industry
Consumer Discretionary	18.79

Based on: 10-K (reporting date: 2025-02-01).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

TJX Cos. Inc., historical EV/EBITDA calculation, comparison to benchmarks

	Feb 1, 2025	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020
Selected Financial Data (US$ in millions)
Enterprise value (EV)¹	137,090)	107,478)	86,111)	69,992)	75,388)	55,072)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	7,663)	7,010)	5,607)	5,385)	1,154)	5,333)
Valuation Ratio
EV/EBITDA³	17.89	15.33	15.36	13.00	65.35	10.33
Benchmarks
EV/EBITDA, Competitors⁴
Amazon.com Inc.	—	19.36	19.88	28.04	21.27	32.24
Home Depot Inc.	15.72	16.56	12.29	14.08	16.53	12.34
Lowe’s Cos. Inc.	13.00	13.26	11.98	12.43	14.41	8.98
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail	—	18.29	17.44	20.13	20.16	24.23
EV/EBITDA, Industry
Consumer Discretionary	—	20.66	18.14	19.78	21.32	29.33

Based on: 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).

¹ See details »

² See details »

³ 2025 Calculation
EV/EBITDA = EV ÷ EBITDA
= 137,090 ÷ 7,663 = 17.89

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	TJX Cos. Inc. EV/EBITDA ratio decreased from 2023 to 2024 but then increased from 2024 to 2025 exceeding 2023 level.

TJX Cos. Inc. (NYSE:TJX)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical