Analysis of Debt
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- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Return on Assets (ROA) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Total Debt (Carrying Amount)
Target Corp., balance sheet: debt
US$ in millions
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).
The carrying amount of total long-term debt and other borrowings exhibited an overall increasing trend between January 30, 2021, and January 31, 2026, though with some fluctuations. A detailed examination of the components reveals specific patterns in both the current and non-current portions of the debt.
- Total Long-Term Debt
- The total carrying amount of long-term debt and other borrowings began at US$12,680 million in January 2021. It increased to US$13,720 million by January 2022, representing a growth of approximately 8.2%. A further increase was observed through January 2023, reaching US$16,139 million. Following this peak, the total decreased slightly to US$16,038 million in February 2024, and continued to decline to US$15,940 million in February 2025. However, the total debt increased again to US$16,456 million by January 2026.
- Current Portion of Debt
- The current portion of long-term debt demonstrated significant volatility. It decreased substantially from US$1,144 million in January 2021 to US$171 million in January 2022, and further to US$130 million in January 2023. A substantial increase occurred in February 2024, rising to US$1,116 million. This upward trend continued into February 2025, reaching US$1,636 million, and further increasing to US$2,130 million by January 2026. This suggests a potential shift in debt maturity profiles, with a larger proportion becoming due within the next year.
- Long-Term Debt (Excluding Current Portion)
- The long-term portion of debt, excluding current obligations, generally increased from US$11,536 million in January 2021 to US$16,009 million in January 2023. A decrease was then observed in February 2024, falling to US$14,922 million. This trend continued through February 2025, reaching US$14,304 million, before stabilizing at US$14,326 million by January 2026. The fluctuations in the total debt amount appear to be largely driven by changes in the current portion, as the long-term portion remained relatively stable in the later periods.
The observed increase in the current portion of debt in the later periods warrants further investigation to understand the company’s refinancing strategy and potential short-term liquidity implications. While total debt increased overall, the recent stabilization of the long-term portion suggests a possible focus on managing near-term debt obligations.
Total Debt (Fair Value)
| Jan 31, 2026 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Notes and debentures | |
| Finance lease liabilities | |
| Total long-term debt and other borrowings, including current portion (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2026-01-31).
Weighted-average Interest Rate on Debt
Weighted average interest rate on long-term debt and other borrowings:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2026-01-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =