Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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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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Target Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-11-01), 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02).
The composition of liabilities and shareholders’ equity exhibited several notable shifts over the observed period, spanning from May 2020 to November 2025. Overall, a dynamic interplay between current and noncurrent liabilities, alongside fluctuations in shareholders’ equity components, is evident.
- Current Liabilities
- Current liabilities, as a percentage of total liabilities and shareholders’ investment, generally fluctuated between approximately 32% and 43% throughout the period. A peak was observed in late 2020 and early 2021, reaching around 39-43%. Following this, a decline was seen through much of 2022, bottoming out around 33-34% before a slight increase towards the end of the observation window. Within current liabilities, accounts payable consistently represented the largest portion, typically ranging from 20% to 29%. Accrued and other current liabilities remained relatively stable, generally between 10% and 12%. The current portion of long-term debt demonstrated more volatility, with a significant increase in early 2021 before returning to lower levels, and then another increase in late 2022 and early 2023.
- Noncurrent Liabilities
- Noncurrent liabilities demonstrated a generally decreasing trend from approximately 43% in mid-2020 to around 37-38% in late 2023 and early 2024. A slight rebound to around 39-40% was observed in late 2024 and early 2025. Long-term debt, excluding the current portion, constituted the largest component of noncurrent liabilities, typically ranging from 21% to 31%. Noncurrent operating lease liabilities showed a consistent upward trend, increasing from around 5% in 2020 to approximately 6% in 2025. Deferred income taxes also exhibited an increasing trend, moving from around 2.5% to over 4% by late 2022, before stabilizing and slightly decreasing. Other noncurrent liabilities remained relatively stable, generally between 3% and 4%.
- Shareholders’ Equity
- Shareholders’ equity, representing the remaining portion of the balance sheet, showed a general upward trend as a percentage of total liabilities and shareholders’ investment, increasing from approximately 25% in mid-2020 to around 27% in mid-2025. Retained earnings were the primary driver of this increase, rising from around 13% to over 15% during the period. Additional paid-in capital remained relatively stable, fluctuating between 11% and 14%. Common stock remained consistently low, around 0.07-0.09%. Accumulated other comprehensive loss remained negative, but decreased in magnitude over time, moving from approximately -1.9% to -0.7%.
The observed trends suggest a shifting balance between short-term and long-term financing strategies. The increase in noncurrent operating lease liabilities and deferred income taxes indicates a potential reliance on these financing methods. The fluctuations in the current portion of long-term debt suggest active debt management. The growth in retained earnings reflects profitability and reinvestment within the business, contributing to the overall increase in shareholders’ equity.