Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Target Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

	May 2, 2026	Jan 31, 2026	Nov 1, 2025	Aug 2, 2025	May 3, 2025	Feb 1, 2025	Nov 2, 2024	Aug 3, 2024	May 4, 2024	Feb 3, 2024	Oct 28, 2023	Jul 29, 2023	Apr 29, 2023	Jan 28, 2023	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 30, 2021	Oct 31, 2020	Aug 1, 2020	May 2, 2020
Cash and cash equivalents	3,534)	5,488)	3,822)	4,341)	2,887)	4,762)	3,433)	3,497)	3,604)	3,805)	1,910)	1,617)	1,321)	2,229)	954)	1,117)	1,112)	5,911)	5,753)	7,368)	7,816)	8,511)	5,996)	7,284)	4,566)
Inventory	12,317)	12,304)	14,896)	12,881)	13,048)	12,740)	15,165)	12,604)	11,730)	11,886)	14,731)	12,684)	12,616)	13,499)	17,117)	15,320)	15,083)	13,902)	14,958)	11,259)	10,539)	10,653)	12,712)	8,876)	8,584)
Other current assets	2,214)	2,213)	1,984)	1,812)	1,824)	1,952)	1,956)	1,817)	1,744)	1,807)	1,958)	1,797)	1,836)	2,118)	2,322)	2,016)	1,758)	1,760)	1,865)	1,604)	1,576)	1,592)	1,601)	1,463)	1,465)
Current assets	18,065)	20,005)	20,702)	19,034)	17,759)	19,454)	20,554)	17,918)	17,078)	17,498)	18,599)	16,098)	15,773)	17,846)	20,393)	18,453)	17,953)	21,573)	22,576)	20,231)	19,931)	20,756)	20,309)	17,623)	14,615)
Property and equipment, net	34,175)	33,749)	33,710)	33,568)	33,182)	33,022)	32,931)	33,075)	33,114)	33,096)	33,168)	32,947)	32,396)	31,512)	30,921)	29,820)	28,670)	28,181)	27,915)	27,244)	26,804)	26,879)	26,773)	26,739)	26,589)
Operating lease assets	3,652)	3,703)	3,739)	3,694)	3,739)	3,763)	3,513)	3,545)	3,486)	3,362)	3,086)	2,840)	2,640)	2,657)	2,596)	2,542)	2,571)	2,556)	2,539)	2,503)	2,362)	2,227)	2,208)	2,233)	2,235)
Other noncurrent assets	2,118)	2,033)	1,840)	1,555)	1,505)	1,530)	1,533)	1,457)	1,439)	1,400)	1,376)	1,321)	1,341)	1,320)	1,705)	1,655)	1,648)	1,501)	1,381)	1,407)	1,374)	1,386)	1,371)	1,405)	1,367)
Noncurrent assets	39,945)	39,485)	39,289)	38,817)	38,426)	38,315)	37,977)	38,077)	38,039)	37,858)	37,630)	37,108)	36,377)	35,489)	35,222)	34,017)	32,889)	32,238)	31,835)	31,154)	30,540)	30,492)	30,352)	30,377)	30,191)
Total assets	58,010)	59,490)	59,991)	57,851)	56,185)	57,769)	58,531)	55,995)	55,117)	55,356)	56,229)	53,206)	52,150)	53,335)	55,615)	52,470)	50,842)	53,811)	54,411)	51,385)	50,471)	51,248)	50,661)	48,000)	44,806)

The total asset base exhibits a general upward trajectory, growing from 44,806 million US dollars in May 2020 to 58,010 million US dollars by May 2026. This expansion is characterized by a steady increase in noncurrent assets contrasted with significant volatility in current asset components.

Liquidity and Cash Position: Cash and cash equivalents experienced substantial fluctuations. After peaking at 8,511 million US dollars in January 2021, a sharp contraction occurred, reaching a low of 954 million US dollars in October 2022. A recovery phase began in early 2024, with cash levels stabilizing between 2,887 million and 5,488 million US dollars through the end of the observed period.
Inventory Dynamics: Inventory levels show a strong growth trend and clear seasonality. Values rose from 8,584 million US dollars in May 2020 to a peak of 17,117 million US dollars in July 2022. While levels corrected to approximately 12,000 million US dollars in 2023, seasonal spikes remain evident, particularly in the fourth quarter of each year, as seen in the increases to 15,165 million US dollars in November 2024 and 14,896 million US dollars in November 2025.
Fixed Asset Investment: Property and equipment, net, demonstrate a consistent and linear increase, rising from 26,589 million US dollars to 34,175 million US dollars. This indicates a sustained commitment to capital expenditure and infrastructure expansion. Similarly, operating lease assets grew steadily from 2,235 million US dollars to 3,652 million US dollars over the same period.
Current Asset Composition: Current assets are primarily driven by the interplay between cash and inventory. The total reached a peak of 22,576 million US dollars in October 2021 before normalizing. By May 2026, current assets stood at 18,065 million US dollars, reflecting a more stabilized relationship between liquid holdings and stock levels compared to the 2020-2022 period.
Noncurrent Asset Growth: Noncurrent assets grew from 30,191 million US dollars to 39,945 million US dollars. This growth was dominated by the steady increase in net property and equipment, with other noncurrent assets contributing a smaller, more variable amount, ending at 2,118 million US dollars in May 2026.

Target Corp. (NYSE:TGT)

Balance Sheet: Assets
Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Target Corp. (NYSE:TGT)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data