Common-Size Balance Sheet: Assets
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Target Corp., common-size consolidated balance sheet: assets
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 composition of assets has shifted considerably over the analyzed period. A notable trend is the decrease in the proportion of current assets relative to total assets, contrasted by a corresponding increase in noncurrent assets. Within current assets, cash and cash equivalents experienced a substantial decline from 16.61% in January 2021 to a low of 4.18% in January 2023, followed by a modest recovery to 9.23% by January 2026. Inventory as a percentage of total assets initially increased, peaking at 25.83% in January 2022, before decreasing to 20.68% in January 2026. Property and equipment, net, consistently represents a significant portion of total assets, increasing from 52.45% to 59.08% between January 2021 and January 2023, then decreasing slightly to 56.73% by January 2026.
- Liquidity Position
- The declining proportion of cash and cash equivalents suggests a potential shift in liquidity management, possibly involving increased investment in other asset classes. The fluctuation in inventory levels could indicate changes in supply chain strategies or sales patterns. The overall decrease in current assets as a percentage of total assets indicates a potentially reduced short-term liquidity position, although this is offset by the growth in noncurrent assets.
- Asset Structure
- The increasing proportion of property and equipment, net, suggests a focus on long-term investments in operational capacity. The growth in operating lease assets, from 4.35% to 6.22% over the period, indicates an increasing reliance on leased assets rather than owned assets. Goodwill remains relatively stable as a percentage of total assets, experiencing a slight decrease over time. The emergence and growth of the pension asset, from 0.14% in January 2023 to 0.39% in January 2026, is a noteworthy development.
- Other Asset Trends
- Vendor income receivable and prepaid expenses remain relatively consistent as a percentage of total assets, with minor fluctuations. The 'Other' current and noncurrent asset categories show a decreasing trend, although the 'Other noncurrent assets' category experiences a more substantial increase towards the end of the analyzed period. The increase in 'Other noncurrent assets' to 3.42% by January 2026 warrants further investigation to understand the underlying components.
In summary, the asset composition demonstrates a strategic shift towards long-term investments and a potential adjustment in liquidity management. The increasing proportion of noncurrent assets, particularly property and equipment and operating lease assets, suggests a long-term growth strategy. The fluctuations in current asset components require ongoing monitoring to ensure adequate short-term financial flexibility.