Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Target Corp., liquidity ratios (quarterly data)
Based on: 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).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Target Corp. current ratio improved from Q2 2025 to Q3 2025 but then slightly deteriorated from Q3 2025 to Q4 2025. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Target Corp. quick ratio deteriorated from Q2 2025 to Q3 2025 but then improved from Q3 2025 to Q4 2025 exceeding Q2 2025 level. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Target Corp. cash ratio deteriorated from Q2 2025 to Q3 2025 but then improved from Q3 2025 to Q4 2025 exceeding Q2 2025 level. |
Current Ratio
Target Corp., current ratio calculation (quarterly data)
| 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 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||
| Current assets | 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) | 12,902) | 13,805) | 12,119) | 11,607) | |||||||
| Current liabilities | 20,799) | 21,792) | 19,984) | 19,859) | 19,304) | 21,502) | 19,332) | 17,867) | 19,500) | 23,783) | 22,445) | 20,724) | 21,747) | 23,351) | 19,422) | 18,598) | 20,125) | 19,357) | 15,892) | 14,412) | 14,487) | 16,608) | 14,364) | 13,239) | |||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||
| Current ratio1 | 0.94 | 0.94 | 0.90 | 0.86 | 0.91 | 0.86 | 0.83 | 0.88 | 0.92 | 0.86 | 0.82 | 0.87 | 0.99 | 0.97 | 1.04 | 1.07 | 1.03 | 1.05 | 1.11 | 1.01 | 0.89 | 0.83 | 0.84 | 0.88 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 1.00 | 0.98 | 0.97 | 0.94 | 0.93 | 1.09 | 1.07 | 1.08 | 1.06 | 1.03 | 1.02 | 1.04 | 1.03 | 1.02 | 1.00 | 1.00 | 0.99 | 0.98 | 1.13 | 1.11 | 1.04 | 1.01 | |||||||
| Walmart Inc. | 0.82 | 0.85 | 0.80 | 0.80 | 0.83 | 0.85 | 0.83 | 0.82 | 0.82 | 0.86 | 0.84 | 0.86 | 0.93 | 0.95 | 0.96 | 0.95 | 0.97 | 0.84 | 0.79 | 0.77 | 0.79 | 0.81 | 0.76 | 0.77 | |||||||
Based on: 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).
1 Q4 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= 19,454 ÷ 20,799 = 0.94
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Target Corp. current ratio improved from Q2 2025 to Q3 2025 but then slightly deteriorated from Q3 2025 to Q4 2025. |
Quick Ratio
Target Corp., quick ratio calculation (quarterly data)
| 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 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||
| Cash and cash equivalents | 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) | 2,577) | 969) | 1,656) | 1,173) | |||||||
| Total quick assets | 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) | 2,577) | 969) | 1,656) | 1,173) | |||||||
| Current liabilities | 20,799) | 21,792) | 19,984) | 19,859) | 19,304) | 21,502) | 19,332) | 17,867) | 19,500) | 23,783) | 22,445) | 20,724) | 21,747) | 23,351) | 19,422) | 18,598) | 20,125) | 19,357) | 15,892) | 14,412) | 14,487) | 16,608) | 14,364) | 13,239) | |||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||
| Quick ratio1 | 0.23 | 0.16 | 0.17 | 0.18 | 0.20 | 0.09 | 0.08 | 0.07 | 0.11 | 0.04 | 0.05 | 0.05 | 0.27 | 0.25 | 0.38 | 0.42 | 0.42 | 0.31 | 0.46 | 0.32 | 0.18 | 0.06 | 0.12 | 0.09 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 0.44 | 0.39 | 0.39 | 0.40 | 0.38 | 0.55 | 0.52 | 0.51 | 0.50 | 0.42 | 0.42 | 0.43 | 0.46 | 0.46 | 0.47 | 0.45 | 0.42 | 0.49 | 0.60 | 0.58 | 0.47 | 0.45 | |||||||
| Walmart Inc. | 0.20 | 0.20 | 0.18 | 0.19 | 0.20 | 0.20 | 0.22 | 0.19 | 0.18 | 0.20 | 0.21 | 0.20 | 0.26 | 0.27 | 0.36 | 0.35 | 0.26 | 0.23 | 0.27 | 0.24 | 0.20 | 0.17 | 0.18 | 0.18 | |||||||
Based on: 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).
1 Q4 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 4,762 ÷ 20,799 = 0.23
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Target Corp. quick ratio deteriorated from Q2 2025 to Q3 2025 but then improved from Q3 2025 to Q4 2025 exceeding Q2 2025 level. |
Cash Ratio
Target Corp., cash ratio calculation (quarterly data)
| 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 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||
| Cash and cash equivalents | 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) | 2,577) | 969) | 1,656) | 1,173) | |||||||
| Total cash assets | 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) | 2,577) | 969) | 1,656) | 1,173) | |||||||
| Current liabilities | 20,799) | 21,792) | 19,984) | 19,859) | 19,304) | 21,502) | 19,332) | 17,867) | 19,500) | 23,783) | 22,445) | 20,724) | 21,747) | 23,351) | 19,422) | 18,598) | 20,125) | 19,357) | 15,892) | 14,412) | 14,487) | 16,608) | 14,364) | 13,239) | |||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||
| Cash ratio1 | 0.23 | 0.16 | 0.17 | 0.18 | 0.20 | 0.09 | 0.08 | 0.07 | 0.11 | 0.04 | 0.05 | 0.05 | 0.27 | 0.25 | 0.38 | 0.42 | 0.42 | 0.31 | 0.46 | 0.32 | 0.18 | 0.06 | 0.12 | 0.09 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 0.36 | 0.31 | 0.31 | 0.33 | 0.30 | 0.49 | 0.45 | 0.43 | 0.42 | 0.35 | 0.35 | 0.37 | 0.39 | 0.40 | 0.41 | 0.40 | 0.35 | 0.44 | 0.54 | 0.52 | 0.38 | 0.38 | |||||||
| Walmart Inc. | 0.09 | 0.10 | 0.09 | 0.10 | 0.11 | 0.12 | 0.14 | 0.11 | 0.09 | 0.11 | 0.14 | 0.12 | 0.17 | 0.18 | 0.28 | 0.28 | 0.19 | 0.16 | 0.21 | 0.18 | 0.12 | 0.10 | 0.12 | 0.12 | |||||||
Based on: 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).
1 Q4 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 4,762 ÷ 20,799 = 0.23
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Target Corp. cash ratio deteriorated from Q2 2025 to Q3 2025 but then improved from Q3 2025 to Q4 2025 exceeding Q2 2025 level. |