Price to Sales (P/S)
since 2005
Calculation
Target Corp., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 11, 2026 | 0.51 | = | 118.78 | ÷ | 231.38 | 231.38 | = | 104,780 | ÷ | 452,855,589 | |
| Mar 12, 2025 | 0.46 | = | 107.28 | ÷ | 233.91 | 233.91 | = | 106,566 | ÷ | 455,576,464 | |
| Mar 13, 2024 | 0.72 | = | 166.67 | ÷ | 232.65 | 232.65 | = | 107,412 | ÷ | 461,690,206 | |
| Mar 8, 2023 | 0.69 | = | 163.51 | ÷ | 237.03 | 237.03 | = | 109,120 | ÷ | 460,363,991 | |
| Mar 9, 2022 | 0.94 | = | 216.00 | ÷ | 229.24 | 229.24 | = | 106,005 | ÷ | 462,418,075 | |
| Mar 10, 2021 | 0.95 | = | 178.58 | ÷ | 187.64 | 187.64 | = | 93,561 | ÷ | 498,616,180 | |
| Mar 11, 2020 | 0.68 | = | 105.58 | ÷ | 155.92 | 155.92 | = | 78,112 | ÷ | 500,961,951 | |
| Mar 13, 2019 | 0.53 | = | 77.12 | ÷ | 145.94 | 145.94 | = | 75,356 | ÷ | 516,333,213 | |
| Mar 14, 2018 | 0.53 | = | 70.65 | ÷ | 133.41 | 133.41 | = | 71,879 | ÷ | 538,796,010 | |
| Mar 8, 2017 | 0.44 | = | 55.02 | ÷ | 125.74 | 125.74 | = | 69,495 | ÷ | 552,675,341 | |
| Mar 11, 2016 | 0.67 | = | 81.87 | ÷ | 122.98 | 122.98 | = | 73,785 | ÷ | 599,982,121 | |
| Mar 13, 2015 | 0.70 | = | 79.18 | ÷ | 113.16 | 113.16 | = | 72,618 | ÷ | 641,738,798 | |
| Mar 14, 2014 | 0.52 | = | 59.36 | ÷ | 114.65 | 114.65 | = | 72,596 | ÷ | 633,174,692 | |
| Mar 20, 2013 | 0.60 | = | 68.52 | ÷ | 114.29 | 114.29 | = | 73,301 | ÷ | 641,387,165 | |
| Mar 15, 2012 | 0.56 | = | 58.75 | ÷ | 104.51 | 104.51 | = | 69,865 | ÷ | 668,486,970 | |
| Mar 11, 2011 | 0.53 | = | 51.53 | ÷ | 97.23 | 97.23 | = | 67,390 | ÷ | 693,063,352 | |
| Mar 12, 2010 | 0.60 | = | 53.08 | ÷ | 88.40 | 88.40 | = | 65,357 | ÷ | 739,316,518 | |
| Mar 13, 2009 | 0.35 | = | 29.97 | ÷ | 86.29 | 86.29 | = | 64,948 | ÷ | 752,672,699 | |
| Mar 13, 2008 | 0.65 | = | 50.56 | ÷ | 77.94 | 77.94 | = | 63,367 | ÷ | 813,034,094 | |
| Mar 15, 2007 | 0.86 | = | 59.58 | ÷ | 69.29 | 69.29 | = | 59,490 | ÷ | 858,580,232 | |
| Apr 10, 2006 | 0.85 | = | 51.62 | ÷ | 60.41 | 60.41 | = | 52,620 | ÷ | 871,024,965 | |
| Apr 11, 2005 | 0.94 | = | 49.75 | ÷ | 52.89 | 52.89 | = | 46,839 | ÷ | 885,553,006 |
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), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Target Corp. Annual Report.
The price-to-sales (P/S) ratio, calculated from the provided share price and sales per share figures, exhibits considerable fluctuation over the observed period from 2005 to 2026. Initial values indicate a P/S ratio around 0.94, followed by a general decline through 2009, reaching a low of 0.35. A subsequent recovery is observed between 2009 and 2013, peaking at 0.70 before experiencing another period of decline. The latter half of the period demonstrates increased volatility, with a rise to 0.95 in 2021, followed by a decrease to 0.46 in 2023, and a slight recovery to 0.51 in 2024, and 0.51 in 2025.
- Initial Period (2005-2009)
- The P/S ratio began at 0.94 in 2005 and generally decreased, culminating in a significant drop to 0.35 in 2009. This decline coincided with a period of economic downturn, suggesting potential market skepticism regarding revenue generation relative to share price. The decrease could also reflect broader market corrections impacting valuation multiples.
- Recovery and Stabilization (2009-2013)
- From 2009 to 2013, the P/S ratio demonstrated a recovery trend, increasing from 0.35 to 0.70. This suggests improving investor confidence in the company’s ability to translate sales into shareholder value. The ratio stabilized around the 0.60-0.70 range during this period.
- Volatility and Recent Trends (2013-2026)
- The period from 2013 onwards is characterized by increased volatility in the P/S ratio. It decreased to 0.52 in 2014, then increased to 0.67 in 2015, followed by a drop to 0.44 in 2017. A peak of 0.95 was reached in 2021, before declining to 0.69 in 2022, 0.72 in 2023, and 0.46 in 2023. The most recent values, 0.51 in 2024 and 0.51 in 2025, indicate a potential stabilization at a lower level compared to the 2021 peak. This recent volatility could be attributed to changing market conditions, company-specific performance factors, or broader economic uncertainties.
- Relationship to Sales per Share
- While the share price increased substantially between 2005 and 2021, sales per share also experienced a consistent upward trend. The P/S ratio’s fluctuations suggest that investor sentiment regarding the company’s valuation relative to its sales has varied considerably, and has not always moved in direct proportion to sales growth. The recent divergence, where sales per share remains high but the P/S ratio is lower, may indicate a reassessment of the company’s growth prospects or profitability.
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Comparison to Competitors
Target Corp., P/S, long-term trends, comparison to competitors
| Target Corp. | Costco Wholesale Corp. | Walmart Inc. | |
|---|---|---|---|
| Mar 11, 2026 | 0.51 | — | 1.43 |
| Mar 12, 2025 | 0.46 | 1.50 | 1.01 |
| Mar 13, 2024 | 0.72 | 1.61 | 0.76 |
| Mar 8, 2023 | 0.69 | 1.05 | 0.62 |
| Mar 9, 2022 | 0.94 | 0.95 | 0.70 |
| Mar 10, 2021 | 0.95 | 1.03 | 0.67 |
| Mar 11, 2020 | 0.68 | 0.98 | 0.62 |
| Mar 13, 2019 | 0.53 | 0.88 | 0.55 |
| Mar 14, 2018 | 0.53 | 0.69 | 0.53 |
| Mar 8, 2017 | 0.44 | 0.55 | 0.45 |
| Mar 11, 2016 | 0.67 | 0.57 | 0.45 |
| Mar 13, 2015 | 0.70 | 0.58 | 0.54 |
| Mar 14, 2014 | 0.52 | 0.49 | 0.52 |
| Mar 20, 2013 | 0.60 | 0.50 | 0.53 |
| Mar 15, 2012 | 0.56 | 0.42 | 0.47 |
| Mar 11, 2011 | 0.53 | 0.41 | 0.44 |
| Mar 12, 2010 | 0.60 | 0.36 | 0.52 |
| Mar 13, 2009 | 0.35 | 0.36 | 0.52 |
| Mar 13, 2008 | 0.65 | 0.35 | 0.56 |
| Mar 15, 2007 | 0.86 | 0.45 | 0.57 |
| Apr 10, 2006 | 0.85 | 0.42 | 0.64 |
| Apr 11, 2005 | 0.94 | 0.46 | 0.74 |
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), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Sector (Consumer Staples Distribution & Retail)
Target Corp., P/S, long-term trends, comparison to sector (consumer staples distribution & retail)
| Target Corp. | Consumer Staples Distribution & Retail | |
|---|---|---|
| Mar 11, 2026 | 0.51 | — |
| Mar 12, 2025 | 0.46 | 1.08 |
| Mar 13, 2024 | 0.72 | 0.97 |
| Mar 8, 2023 | 0.69 | 0.74 |
| Mar 9, 2022 | 0.94 | 0.79 |
| Mar 10, 2021 | 0.95 | 0.78 |
| Mar 11, 2020 | 0.68 | 0.70 |
| Mar 13, 2019 | 0.53 | 0.61 |
| Mar 14, 2018 | 0.53 | 0.56 |
| Mar 8, 2017 | 0.44 | 0.47 |
| Mar 11, 2016 | 0.67 | 0.50 |
| Mar 13, 2015 | 0.70 | 0.56 |
| Mar 14, 2014 | 0.52 | 0.51 |
| Mar 20, 2013 | 0.60 | 0.53 |
| Mar 15, 2012 | 0.56 | 0.47 |
| Mar 11, 2011 | 0.53 | 0.44 |
| Mar 12, 2010 | 0.60 | 0.51 |
| Mar 13, 2009 | 0.35 | 0.48 |
| Mar 13, 2008 | 0.65 | 0.54 |
| Mar 15, 2007 | 0.86 | 0.59 |
| Apr 10, 2006 | 0.85 | 0.64 |
| Apr 11, 2005 | 0.94 | 0.73 |
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), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Industry (Consumer Staples)
Target Corp., P/S, long-term trends, comparison to industry (consumer staples)
| Target Corp. | Consumer Staples | |
|---|---|---|
| Mar 11, 2026 | 0.51 | — |
| Mar 12, 2025 | 0.46 | 1.78 |
| Mar 13, 2024 | 0.72 | 1.67 |
| Mar 8, 2023 | 0.69 | 1.45 |
| Mar 9, 2022 | 0.94 | 1.54 |
| Mar 10, 2021 | 0.95 | 1.61 |
| Mar 11, 2020 | 0.68 | 1.49 |
| Mar 13, 2019 | 0.53 | 1.47 |
| Mar 14, 2018 | 0.53 | 1.24 |
| Mar 8, 2017 | 0.44 | 1.25 |
| Mar 11, 2016 | 0.67 | 1.26 |
| Mar 13, 2015 | 0.70 | 1.23 |
| Mar 14, 2014 | 0.52 | 1.18 |
| Mar 20, 2013 | 0.60 | 1.14 |
| Mar 15, 2012 | 0.56 | 1.10 |
| Mar 11, 2011 | 0.53 | 1.03 |
| Mar 12, 2010 | 0.60 | 1.08 |
| Mar 13, 2009 | 0.35 | 1.01 |
| Mar 13, 2008 | 0.65 | 1.04 |
| Mar 15, 2007 | 0.86 | 1.20 |
| Apr 10, 2006 | 0.85 | 1.25 |
| Apr 11, 2005 | 0.94 | 1.26 |
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), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).