Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
Paying user area
Try for free
Target Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Target Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Target Corp., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04).
- Net Earnings
- Net earnings display a highly volatile trend throughout the periods, with notable fluctuations including a sharp decline in May 2020 to 284 million USD, a peak in May 2021 at 2097 million USD, followed by decreased values such as 183 million USD in Jul 2022, and several ups and downs thereafter. This pattern suggests significant earnings variability possibly linked to external or operational factors.
- Net Earnings from Continuing Operations
- The net earnings from continuing operations largely mirror the overall net earnings trend, indicating that discontinued operations have minimal impact on overall earnings. The pattern reflects the same rises and falls, confirming continuing operations as the primary driver of company profitability.
- Depreciation and Amortization
- There is a steady upward trend in depreciation and amortization expenses, increasing from 644 million USD in early 2019 to 787 million USD by May 2025. This signals growing capital asset investments or updated accounting estimates impacting expense recognition.
- Share-Based Compensation Expense
- Share-based compensation shows some variability but generally trends upwards over the timeline, with occasional spikes such as 83 million USD in Apr 2022 and values mostly residing between 30 to 80 million USD. This may reflect changes in employee incentive structures or increased stock-based rewards.
- Deferred Income Taxes
- Deferred income taxes demonstrate volatile and irregular fluctuations, including both positive and negative values, with extreme points like -210 million USD in Jan 2021 and 321 million USD in Oct 2022. This irregularity suggests complex tax timing differences or tax benefit realizations across quarters.
- Inventory
- Inventory levels exhibit high variability and instability with large negative and positive swings, including drastic declines (e.g., -3836 million USD in Oct 2020 and -3699 million USD in Oct 2021) and large positive reversals (e.g., 3618 million USD in Jan 2023). This pattern indicates significant operational changes or inventory management challenges over time.
- Accounts Payable
- Accounts payable fluctuates substantially, alternating between large negative and positive values—peaking at 3595 million USD in Oct 2021 and dropping to -2103 million USD in May 2023. These swings suggest volatile supplier payment cycles or changing purchase volumes.
- Accrued and Other Liabilities
- Accrued and other liabilities also show oscillations with both positive and negative values, though generally of smaller magnitude than accounts payable. The fluctuations reflect variable short-term obligations and possible adjustments.
- Cash Provided by Operating Activities
- The cash flow from operating activities varies notably, with peaks like 3832 million USD in Aug 2020 and 3481 million USD in Jan 2021, contrasted by occasional declines including negative values such as -1394 million USD in Apr 2022. These dynamics indicate varying operational cash generation efficiency over the quarters.
- Expenditures for Property and Equipment
- Capital expenditures exhibit an overall increasing trend with some volatility. Notable high spending periods include peaks such as -1800 million USD in Oct 2022 and consistent significant investments across later periods, signaling sustained focus on asset base expansion or replacement.
- Cash Required for Investing Activities
- Investing cash flows mostly remain negative, indicating continuous investment outlays exceeding proceeds. The trend is consistent with ongoing capital expenditures and occasional asset disposals, with some periods showing less outflow possibly due to timing of sales or reduced investments.
- Additions and Reductions of Long-Term Debt
- Long-term debt activities reflect intermittent borrowing and repayments, with some large additions in May 2020 and Oct 2022, and significant reductions notably in Feb 2021 and throughout 2024. This pattern suggests active debt management possibly aligned with refinancing strategies or funding needs.
- Dividends Paid
- Dividends paid show a generally steady and slightly increasing trend from approximately -330 million USD to around -510 million USD over the periods, reflecting consistent shareholder returns with moderate growth.
- Repurchase of Stock
- Stock repurchases vary widely, including periods of significant buybacks (e.g., -2760 million USD in Apr 2022) interspersed with intervals of minimal or even positive values. This irregular pattern indicates opportunistic share repurchase policies or pauses reflecting capital allocation decisions.
- Cash Provided by (Required for) Financing Activities
- Financing cash flows are generally negative, signaling net cash outflows related to debt repayments, dividend payments, and share repurchases. Sporadic positive values occur, likely linked to new debt issuance or other financing inflows, but the prevailing trend is outflows consistent with capital return and debt servicing.
- Net Increase (Decrease) in Cash and Cash Equivalents
- Cash and cash equivalents fluctuate considerably with distinct periods of increase, including 2718 million USD in Aug 2020 and 2515 million USD in Jan 2021, along with sharp declines such as -4799 million USD in Apr 2022 and -1875 million USD in May 2025. These swings reflect the combined impact of operating, investing, and financing activities, highlighting periods of cash accumulation and drawdown.