Stock Analysis on Net

Target Corp. (NYSE:TGT)

Analysis of Solvency Ratios
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

Target Corp., solvency ratios (quarterly data)

Microsoft Excel
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 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Debt Ratios
Debt to equity 1.19 1.28 1.34 1.40 1.44 1.49 1.43 1.34 1.07 0.92 0.86 0.85 0.88 0.95 1.14 1.28 0.97 1.01 0.97 1.12 1.00 1.05 1.00 1.02
Debt to equity (including operating lease liability) 1.44 1.52 1.57 1.62 1.67 1.73 1.67 1.58 1.26 1.11 1.03 1.00 1.03 1.11 1.31 1.48 1.16 1.20 1.15 1.30 1.18 1.24 1.18 1.20
Debt to capital 0.54 0.56 0.57 0.58 0.59 0.60 0.59 0.57 0.52 0.48 0.46 0.46 0.47 0.49 0.53 0.56 0.49 0.50 0.49 0.53 0.50 0.51 0.50 0.51
Debt to capital (including operating lease liability) 0.59 0.60 0.61 0.62 0.63 0.63 0.62 0.61 0.56 0.53 0.51 0.50 0.51 0.53 0.57 0.60 0.54 0.55 0.54 0.57 0.54 0.55 0.54 0.55
Debt to assets 0.29 0.28 0.30 0.31 0.30 0.30 0.29 0.28 0.25 0.23 0.25 0.25 0.25 0.25 0.30 0.32 0.27 0.27 0.28 0.31 0.27 0.27 0.28 0.29
Debt to assets (including operating lease liability) 0.35 0.34 0.35 0.36 0.35 0.34 0.34 0.34 0.30 0.28 0.30 0.30 0.29 0.29 0.34 0.37 0.32 0.32 0.33 0.36 0.32 0.31 0.33 0.34
Financial leverage 4.12 4.49 4.44 4.49 4.75 5.05 4.95 4.72 4.20 3.94 3.46 3.37 3.55 3.80 3.82 4.01 3.62 3.79 3.51 3.65 3.65 3.93 3.58 3.49
Coverage Ratios
Interest coverage 11.55 9.69 8.80 7.58 8.15 10.70 13.46 18.76 22.16 21.38 9.43 9.08 6.68 5.92 10.51 8.47 9.78 9.86 9.42 9.09 8.97

Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Target Corp. debt to equity ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Target Corp. debt to equity ratio (including operating lease liability) improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Target Corp. debt to capital ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Target Corp. debt to capital ratio (including operating lease liability) improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Target Corp. debt to assets ratio improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Target Corp. debt to assets ratio (including operating lease liability) improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024 not reaching Q2 2024 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Target Corp. financial leverage ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Target Corp. interest coverage ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Debt to Equity

Target Corp., debt to equity calculation (quarterly data)

Microsoft Excel
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 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt and other borrowings 1,116 1,112 1,106 200 130 2,207 1,649 1,089 171 1,176 1,190 1,173 1,144 131 109 168 161 1,159 1,153 1,056 1,052 1,535 1,044 283
Long-term debt and other borrowings, excluding current portion 14,922 14,883 14,926 16,010 16,009 14,237 13,453 13,379 13,549 11,586 11,589 11,509 11,536 12,490 14,188 14,073 11,338 10,513 10,365 11,357 10,223 10,104 10,108 11,107
Total debt 16,038 15,995 16,032 16,210 16,139 16,444 15,102 14,468 13,720 12,762 12,779 12,682 12,680 12,621 14,297 14,241 11,499 11,672 11,518 12,413 11,275 11,639 11,152 11,390
 
Shareholders’ investment 13,432 12,514 11,990 11,605 11,232 11,019 10,592 10,774 12,827 13,803 14,860 14,959 14,440 13,319 12,578 11,169 11,833 11,545 11,836 11,117 11,297 11,080 11,167 11,158
Solvency Ratio
Debt to equity1 1.19 1.28 1.34 1.40 1.44 1.49 1.43 1.34 1.07 0.92 0.86 0.85 0.88 0.95 1.14 1.28 0.97 1.01 0.97 1.12 1.00 1.05 1.00 1.02
Benchmarks
Debt to Equity, Competitors2
Costco Wholesale Corp. 0.33 0.27 0.26 0.28 0.29 0.30 0.32 0.33 0.34 0.40 0.43 0.46 0.49 0.51 0.42 0.54 0.34 0.43 0.45 0.45 0.47 0.49
Walmart Inc. 0.56 0.70 0.63 0.68 0.58 0.71 0.65 0.68 0.51 0.52 0.58 0.62 0.60 0.62 0.69 0.85 0.73 0.82 0.81 0.85 0.80 0.85 0.76 0.61

Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

1 Q4 2024 Calculation
Debt to equity = Total debt ÷ Shareholders’ investment
= 16,038 ÷ 13,432 = 1.19

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Target Corp. debt to equity ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Debt to Equity (including Operating Lease Liability)

Target Corp., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel
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 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt and other borrowings 1,116 1,112 1,106 200 130 2,207 1,649 1,089 171 1,176 1,190 1,173 1,144 131 109 168 161 1,159 1,153 1,056 1,052 1,535 1,044 283
Long-term debt and other borrowings, excluding current portion 14,922 14,883 14,926 16,010 16,009 14,237 13,453 13,379 13,549 11,586 11,589 11,509 11,536 12,490 14,188 14,073 11,338 10,513 10,365 11,357 10,223 10,104 10,108 11,107
Total debt 16,038 15,995 16,032 16,210 16,139 16,444 15,102 14,468 13,720 12,762 12,779 12,682 12,680 12,621 14,297 14,241 11,499 11,672 11,518 12,413 11,275 11,639 11,152 11,390
Noncurrent operating lease liabilities 3,279 3,031 2,798 2,621 2,638 2,590 2,543 2,581 2,493 2,494 2,462 2,337 2,218 2,196 2,241 2,249 2,275 2,208 2,111 2,064 2,004 2,046 2,028 2,007
Total debt (including operating lease liability) 19,317 19,026 18,830 18,831 18,777 19,034 17,645 17,049 16,213 15,256 15,241 15,019 14,898 14,817 16,538 16,490 13,774 13,880 13,629 14,477 13,279 13,685 13,180 13,397
 
Shareholders’ investment 13,432 12,514 11,990 11,605 11,232 11,019 10,592 10,774 12,827 13,803 14,860 14,959 14,440 13,319 12,578 11,169 11,833 11,545 11,836 11,117 11,297 11,080 11,167 11,158
Solvency Ratio
Debt to equity (including operating lease liability)1 1.44 1.52 1.57 1.62 1.67 1.73 1.67 1.58 1.26 1.11 1.03 1.00 1.03 1.11 1.31 1.48 1.16 1.20 1.15 1.30 1.18 1.24 1.18 1.20
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Costco Wholesale Corp. 0.45 0.36 0.35 0.38 0.40 0.42 0.44 0.45 0.48 0.55 0.58 0.62 0.66 0.69 0.56 0.69 0.48 0.58 0.45 0.45 0.47 0.49
Walmart Inc. 0.73 0.88 0.81 0.88 0.77 0.90 0.84 0.87 0.69 0.70 0.76 0.80 0.78 0.84 0.92 1.11 0.97 1.06 1.06 1.11 0.80 0.85 0.76 0.61

Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

1 Q4 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ investment
= 19,317 ÷ 13,432 = 1.44

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Target Corp. debt to equity ratio (including operating lease liability) improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Debt to Capital

Target Corp., debt to capital calculation (quarterly data)

Microsoft Excel
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 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt and other borrowings 1,116 1,112 1,106 200 130 2,207 1,649 1,089 171 1,176 1,190 1,173 1,144 131 109 168 161 1,159 1,153 1,056 1,052 1,535 1,044 283
Long-term debt and other borrowings, excluding current portion 14,922 14,883 14,926 16,010 16,009 14,237 13,453 13,379 13,549 11,586 11,589 11,509 11,536 12,490 14,188 14,073 11,338 10,513 10,365 11,357 10,223 10,104 10,108 11,107
Total debt 16,038 15,995 16,032 16,210 16,139 16,444 15,102 14,468 13,720 12,762 12,779 12,682 12,680 12,621 14,297 14,241 11,499 11,672 11,518 12,413 11,275 11,639 11,152 11,390
Shareholders’ investment 13,432 12,514 11,990 11,605 11,232 11,019 10,592 10,774 12,827 13,803 14,860 14,959 14,440 13,319 12,578 11,169 11,833 11,545 11,836 11,117 11,297 11,080 11,167 11,158
Total capital 29,470 28,509 28,022 27,815 27,371 27,463 25,694 25,242 26,547 26,565 27,639 27,641 27,120 25,940 26,875 25,410 23,332 23,217 23,354 23,530 22,572 22,719 22,319 22,548
Solvency Ratio
Debt to capital1 0.54 0.56 0.57 0.58 0.59 0.60 0.59 0.57 0.52 0.48 0.46 0.46 0.47 0.49 0.53 0.56 0.49 0.50 0.49 0.53 0.50 0.51 0.50 0.51
Benchmarks
Debt to Capital, Competitors2
Costco Wholesale Corp. 0.25 0.21 0.20 0.22 0.22 0.23 0.24 0.25 0.26 0.29 0.30 0.32 0.33 0.34 0.29 0.35 0.25 0.30 0.31 0.31 0.32 0.33
Walmart Inc. 0.36 0.41 0.39 0.41 0.37 0.42 0.40 0.40 0.34 0.34 0.37 0.38 0.38 0.38 0.41 0.46 0.42 0.45 0.45 0.46 0.44 0.46 0.43 0.38

Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

1 Q4 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 16,038 ÷ 29,470 = 0.54

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Target Corp. debt to capital ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Debt to Capital (including Operating Lease Liability)

Target Corp., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel
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 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt and other borrowings 1,116 1,112 1,106 200 130 2,207 1,649 1,089 171 1,176 1,190 1,173 1,144 131 109 168 161 1,159 1,153 1,056 1,052 1,535 1,044 283
Long-term debt and other borrowings, excluding current portion 14,922 14,883 14,926 16,010 16,009 14,237 13,453 13,379 13,549 11,586 11,589 11,509 11,536 12,490 14,188 14,073 11,338 10,513 10,365 11,357 10,223 10,104 10,108 11,107
Total debt 16,038 15,995 16,032 16,210 16,139 16,444 15,102 14,468 13,720 12,762 12,779 12,682 12,680 12,621 14,297 14,241 11,499 11,672 11,518 12,413 11,275 11,639 11,152 11,390
Noncurrent operating lease liabilities 3,279 3,031 2,798 2,621 2,638 2,590 2,543 2,581 2,493 2,494 2,462 2,337 2,218 2,196 2,241 2,249 2,275 2,208 2,111 2,064 2,004 2,046 2,028 2,007
Total debt (including operating lease liability) 19,317 19,026 18,830 18,831 18,777 19,034 17,645 17,049 16,213 15,256 15,241 15,019 14,898 14,817 16,538 16,490 13,774 13,880 13,629 14,477 13,279 13,685 13,180 13,397
Shareholders’ investment 13,432 12,514 11,990 11,605 11,232 11,019 10,592 10,774 12,827 13,803 14,860 14,959 14,440 13,319 12,578 11,169 11,833 11,545 11,836 11,117 11,297 11,080 11,167 11,158
Total capital (including operating lease liability) 32,749 31,540 30,820 30,436 30,009 30,053 28,237 27,823 29,040 29,059 30,101 29,978 29,338 28,136 29,116 27,659 25,607 25,425 25,465 25,594 24,576 24,765 24,347 24,555
Solvency Ratio
Debt to capital (including operating lease liability)1 0.59 0.60 0.61 0.62 0.63 0.63 0.62 0.61 0.56 0.53 0.51 0.50 0.51 0.53 0.57 0.60 0.54 0.55 0.54 0.57 0.54 0.55 0.54 0.55
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Costco Wholesale Corp. 0.31 0.26 0.26 0.28 0.29 0.30 0.30 0.31 0.32 0.35 0.37 0.38 0.40 0.41 0.36 0.41 0.33 0.37 0.31 0.31 0.32 0.33
Walmart Inc. 0.42 0.47 0.45 0.47 0.43 0.48 0.46 0.46 0.41 0.41 0.43 0.45 0.44 0.46 0.48 0.53 0.49 0.51 0.52 0.53 0.44 0.46 0.43 0.38

Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

1 Q4 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 19,317 ÷ 32,749 = 0.59

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Target Corp. debt to capital ratio (including operating lease liability) improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Debt to Assets

Target Corp., debt to assets calculation (quarterly data)

Microsoft Excel
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 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt and other borrowings 1,116 1,112 1,106 200 130 2,207 1,649 1,089 171 1,176 1,190 1,173 1,144 131 109 168 161 1,159 1,153 1,056 1,052 1,535 1,044 283
Long-term debt and other borrowings, excluding current portion 14,922 14,883 14,926 16,010 16,009 14,237 13,453 13,379 13,549 11,586 11,589 11,509 11,536 12,490 14,188 14,073 11,338 10,513 10,365 11,357 10,223 10,104 10,108 11,107
Total debt 16,038 15,995 16,032 16,210 16,139 16,444 15,102 14,468 13,720 12,762 12,779 12,682 12,680 12,621 14,297 14,241 11,499 11,672 11,518 12,413 11,275 11,639 11,152 11,390
 
Total assets 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 42,779 43,741 41,566 40,619 41,290 43,572 39,996 38,929
Solvency Ratio
Debt to assets1 0.29 0.28 0.30 0.31 0.30 0.30 0.29 0.28 0.25 0.23 0.25 0.25 0.25 0.25 0.30 0.32 0.27 0.27 0.28 0.31 0.27 0.27 0.28 0.29
Benchmarks
Debt to Assets, Competitors2
Costco Wholesale Corp. 0.10 0.09 0.09 0.10 0.10 0.10 0.10 0.10 0.11 0.12 0.13 0.13 0.14 0.13 0.14 0.18 0.11 0.13 0.15 0.15 0.15 0.15
Walmart Inc. 0.19 0.21 0.20 0.20 0.18 0.21 0.21 0.21 0.17 0.18 0.19 0.20 0.19 0.20 0.22 0.25 0.23 0.24 0.24 0.25 0.26 0.27 0.26 0.23

Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

1 Q4 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 16,038 ÷ 55,356 = 0.29

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Target Corp. debt to assets ratio improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024.

Debt to Assets (including Operating Lease Liability)

Target Corp., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel
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 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt and other borrowings 1,116 1,112 1,106 200 130 2,207 1,649 1,089 171 1,176 1,190 1,173 1,144 131 109 168 161 1,159 1,153 1,056 1,052 1,535 1,044 283
Long-term debt and other borrowings, excluding current portion 14,922 14,883 14,926 16,010 16,009 14,237 13,453 13,379 13,549 11,586 11,589 11,509 11,536 12,490 14,188 14,073 11,338 10,513 10,365 11,357 10,223 10,104 10,108 11,107
Total debt 16,038 15,995 16,032 16,210 16,139 16,444 15,102 14,468 13,720 12,762 12,779 12,682 12,680 12,621 14,297 14,241 11,499 11,672 11,518 12,413 11,275 11,639 11,152 11,390
Noncurrent operating lease liabilities 3,279 3,031 2,798 2,621 2,638 2,590 2,543 2,581 2,493 2,494 2,462 2,337 2,218 2,196 2,241 2,249 2,275 2,208 2,111 2,064 2,004 2,046 2,028 2,007
Total debt (including operating lease liability) 19,317 19,026 18,830 18,831 18,777 19,034 17,645 17,049 16,213 15,256 15,241 15,019 14,898 14,817 16,538 16,490 13,774 13,880 13,629 14,477 13,279 13,685 13,180 13,397
 
Total assets 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 42,779 43,741 41,566 40,619 41,290 43,572 39,996 38,929
Solvency Ratio
Debt to assets (including operating lease liability)1 0.35 0.34 0.35 0.36 0.35 0.34 0.34 0.34 0.30 0.28 0.30 0.30 0.29 0.29 0.34 0.37 0.32 0.32 0.33 0.36 0.32 0.31 0.33 0.34
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Costco Wholesale Corp. 0.14 0.13 0.13 0.13 0.14 0.14 0.14 0.14 0.15 0.16 0.17 0.18 0.19 0.17 0.18 0.22 0.16 0.18 0.15 0.15 0.15 0.15
Walmart Inc. 0.24 0.27 0.25 0.26 0.24 0.26 0.26 0.27 0.23 0.24 0.26 0.27 0.25 0.27 0.29 0.32 0.31 0.32 0.32 0.32 0.26 0.27 0.26 0.23

Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

1 Q4 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 19,317 ÷ 55,356 = 0.35

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Target Corp. debt to assets ratio (including operating lease liability) improved from Q2 2024 to Q3 2024 but then slightly deteriorated from Q3 2024 to Q4 2024 not reaching Q2 2024 level.

Financial Leverage

Target Corp., financial leverage calculation (quarterly data)

Microsoft Excel
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 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Selected Financial Data (US$ in millions)
Total assets 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 42,779 43,741 41,566 40,619 41,290 43,572 39,996 38,929
Shareholders’ investment 13,432 12,514 11,990 11,605 11,232 11,019 10,592 10,774 12,827 13,803 14,860 14,959 14,440 13,319 12,578 11,169 11,833 11,545 11,836 11,117 11,297 11,080 11,167 11,158
Solvency Ratio
Financial leverage1 4.12 4.49 4.44 4.49 4.75 5.05 4.95 4.72 4.20 3.94 3.46 3.37 3.55 3.80 3.82 4.01 3.62 3.79 3.51 3.65 3.65 3.93 3.58 3.49
Benchmarks
Financial Leverage, Competitors2
Costco Wholesale Corp. 3.19 2.82 2.75 2.83 2.93 3.08 3.11 3.20 3.25 3.47 3.37 3.47 3.51 4.05 3.04 3.08 2.94 3.24 2.98 3.02 3.09 3.33
Walmart Inc. 3.01 3.26 3.21 3.38 3.17 3.43 3.19 3.20 2.94 2.98 2.96 3.02 3.12 3.08 3.15 3.41 3.17 3.35 3.34 3.44 3.02 3.15 2.89 2.71

Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

1 Q4 2024 Calculation
Financial leverage = Total assets ÷ Shareholders’ investment
= 55,356 ÷ 13,432 = 4.12

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Target Corp. financial leverage ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.

Interest Coverage

Target Corp., interest coverage calculation (quarterly data)

Microsoft Excel
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 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018
Selected Financial Data (US$ in millions)
Net earnings 1,382 971 835 950 876 712 183 1,009 1,544 1,488 1,817 2,097 1,380 1,014 1,690 284 834 714 938 795 798 622 799 718
Less: Discontinued operations, net of tax 1 8 3 6 1
Add: Income tax expense 404 264 237 254 167 197 34 240 473 423 553 512 350 284 499 45 218 195 279 229 216 97 223 210
Add: Net interest expense 107 107 141 147 129 125 112 112 104 105 104 108 106 632 122 117 118 113 120 126 110 115 115 121
Earnings before interest and tax (EBIT) 1,893 1,342 1,213 1,351 1,172 1,034 329 1,361 2,121 2,016 2,474 2,717 1,836 1,930 2,311 446 1,169 1,014 1,337 1,147 1,124 828 1,137 1,048
Solvency Ratio
Interest coverage1 11.55 9.69 8.80 7.58 8.15 10.70 13.46 18.76 22.16 21.38 9.43 9.08 6.68 5.92 10.51 8.47 9.78 9.86 9.42 9.09 8.97
Benchmarks
Interest Coverage, Competitors2
Costco Wholesale Corp. 54.08 54.80 54.04 53.89 54.62 52.73 50.62 48.01 45.54 41.68 40.06 37.81 35.56 36.58 34.54 33.40 33.57 33.16 32.77 31.86 31.13 29.11
Walmart Inc. 9.14 9.94 9.35 8.19 9.00 7.63 11.00 10.43 10.38 7.37 8.59 9.31 9.88 11.98 10.50 9.08 8.74 8.69 8.11 6.54 5.88

Based on: 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), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05).

1 Q4 2024 Calculation
Interest coverage = (EBITQ4 2024 + EBITQ3 2024 + EBITQ2 2024 + EBITQ1 2024) ÷ (Interest expenseQ4 2024 + Interest expenseQ3 2024 + Interest expenseQ2 2024 + Interest expenseQ1 2024)
= (1,893 + 1,342 + 1,213 + 1,351) ÷ (107 + 107 + 141 + 147) = 11.55

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Target Corp. interest coverage ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.