Return on Equity (ROE)
since 2005
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Target Corp. pages available for free this week:
- Balance Sheet: Assets
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
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Calculation
Target Corp., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net earnings (loss)1 | ÷ | Shareholders’ investment1 | |
|---|---|---|---|---|---|---|---|
| Jan 31, 2026 | = | 100 | × | ÷ | |||
| Feb 1, 2025 | = | 100 | × | ÷ | |||
| Feb 3, 2024 | = | 100 | × | ÷ | |||
| Jan 28, 2023 | = | 100 | × | ÷ | |||
| Jan 29, 2022 | = | 100 | × | ÷ | |||
| Jan 30, 2021 | = | 100 | × | ÷ | |||
| Feb 1, 2020 | = | 100 | × | ÷ | |||
| Feb 2, 2019 | = | 100 | × | ÷ | |||
| Feb 3, 2018 | = | 100 | × | ÷ | |||
| Jan 28, 2017 | = | 100 | × | ÷ | |||
| Jan 30, 2016 | = | 100 | × | ÷ | |||
| Jan 31, 2015 | = | 100 | × | ÷ | |||
| Feb 1, 2014 | = | 100 | × | ÷ | |||
| Feb 2, 2013 | = | 100 | × | ÷ | |||
| Jan 28, 2012 | = | 100 | × | ÷ | |||
| Jan 29, 2011 | = | 100 | × | ÷ | |||
| Jan 30, 2010 | = | 100 | × | ÷ | |||
| Jan 31, 2009 | = | 100 | × | ÷ | |||
| Feb 2, 2008 | = | 100 | × | ÷ | |||
| Feb 3, 2007 | = | 100 | × | ÷ | |||
| Jan 28, 2006 | = | 100 | × | ÷ | |||
| Jan 29, 2005 | = | 100 | × | ÷ |
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$ in millions
The return on equity (ROE) exhibited considerable fluctuation over the observed period. Initially, ROE demonstrated a strong performance, followed by periods of decline and subsequent recovery, culminating in a peak and then a stabilization. A detailed examination reveals distinct phases in the company’s profitability relative to shareholder investment.
- Initial Strong Performance (2005-2008)
- From 2005 to 2008, ROE consistently remained above 16%, peaking at 24.55% in 2005 and reaching 18.61% in 2008. This period indicates a robust ability to generate profits from shareholder equity. While there was a decrease from the 2005 high, the values remained comparatively strong, suggesting sustained profitability.
- Period of Volatility and Decline (2009-2015)
- The years 2009 through 2015 were characterized by increased volatility. ROE decreased to 16.15% in 2009, remained relatively stable around the mid-teens for several years, and then experienced a significant downturn in 2014, resulting in a negative ROE of -11.69%. This negative value indicates a net loss relative to shareholder investment during that year. The subsequent recovery in 2015, reaching 25.96%, suggests a turnaround in performance.
- Subsequent Recovery and Peak (2016-2022)
- Following the 2015 recovery, ROE continued to improve, consistently exceeding 24% from 2016 onwards. A peak was reached in 2021 with an exceptionally high ROE of 54.15%. This substantial increase suggests a period of exceptional profitability, potentially driven by increased efficiency, favorable market conditions, or significant gains.
- Recent Stabilization (2023-2026)
- The most recent years, 2023 through the projected 2026, show a stabilization of ROE, fluctuating between approximately 22.92% and 30.81%. While still representing strong profitability, these values are lower than the peak observed in 2021, indicating a potential normalization of performance. The slight decline from the 2021 peak to the 2023-2026 range suggests a return to more sustainable levels of profitability.
Overall, the company’s ROE has demonstrated a cyclical pattern, with periods of strong growth, decline, recovery, and eventual stabilization. The significant peak in 2021 warrants further investigation to understand the underlying drivers of that exceptional performance. The recent stabilization suggests a mature phase in the company’s profitability cycle.
Comparison to Competitors
Target Corp., ROE, long-term trends, comparison to competitors
| Target Corp. | Costco Wholesale Corp. | Walmart Inc. | |
|---|---|---|---|
| Jan 31, 2026 | |||
| Feb 1, 2025 | |||
| Feb 3, 2024 | |||
| Jan 28, 2023 | |||
| Jan 29, 2022 | |||
| Jan 30, 2021 | |||
| Feb 1, 2020 | |||
| Feb 2, 2019 | |||
| Feb 3, 2018 | |||
| Jan 28, 2017 | |||
| Jan 30, 2016 | |||
| Jan 31, 2015 | |||
| Feb 1, 2014 | |||
| Feb 2, 2013 | |||
| Jan 28, 2012 | |||
| Jan 29, 2011 | |||
| Jan 30, 2010 | |||
| Jan 31, 2009 | |||
| Feb 2, 2008 | |||
| Feb 3, 2007 | |||
| Jan 28, 2006 | |||
| Jan 29, 2005 |
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., ROE, long-term trends, comparison to sector (consumer staples distribution & retail)
| Target Corp. | Consumer Staples Distribution & Retail | |
|---|---|---|
| Jan 31, 2026 | ||
| Feb 1, 2025 | ||
| Feb 3, 2024 | ||
| Jan 28, 2023 | ||
| Jan 29, 2022 | ||
| Jan 30, 2021 | ||
| Feb 1, 2020 | ||
| Feb 2, 2019 | ||
| Feb 3, 2018 | ||
| Jan 28, 2017 | ||
| Jan 30, 2016 | ||
| Jan 31, 2015 | ||
| Feb 1, 2014 | ||
| Feb 2, 2013 | ||
| Jan 28, 2012 | ||
| Jan 29, 2011 | ||
| Jan 30, 2010 | ||
| Jan 31, 2009 | ||
| Feb 2, 2008 | ||
| Feb 3, 2007 | ||
| Jan 28, 2006 | ||
| Jan 29, 2005 |
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., ROE, long-term trends, comparison to industry (consumer staples)
| Target Corp. | Consumer Staples | |
|---|---|---|
| Jan 31, 2026 | ||
| Feb 1, 2025 | ||
| Feb 3, 2024 | ||
| Jan 28, 2023 | ||
| Jan 29, 2022 | ||
| Jan 30, 2021 | ||
| Feb 1, 2020 | ||
| Feb 2, 2019 | ||
| Feb 3, 2018 | ||
| Jan 28, 2017 | ||
| Jan 30, 2016 | ||
| Jan 31, 2015 | ||
| Feb 1, 2014 | ||
| Feb 2, 2013 | ||
| Jan 28, 2012 | ||
| Jan 29, 2011 | ||
| Jan 30, 2010 | ||
| Jan 31, 2009 | ||
| Feb 2, 2008 | ||
| Feb 3, 2007 | ||
| Jan 28, 2006 | ||
| Jan 29, 2005 |
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).