Stock Analysis on Net

Target Corp. (NYSE:TGT) 

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

Target Corp., long-term (investment) activity ratios

Microsoft Excel
Feb 3, 2024 Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019
Net fixed asset turnover 3.20 3.41 3.71 3.44 2.93 2.92
Net fixed asset turnover (including operating lease, right-of-use asset) 2.90 3.15 3.40 3.17 2.70 2.71
Total asset turnover 1.91 2.02 1.94 1.80 1.80 1.80
Equity turnover 7.88 9.58 8.16 6.40 6.52 6.59

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Target Corp. net fixed asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Target Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 and from 2023 to 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Target Corp. total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Target Corp. equity turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Net Fixed Asset Turnover

Target Corp., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Feb 3, 2024 Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019
Selected Financial Data (US$ in millions)
Sales 105,803 107,588 104,611 92,400 77,130 74,433
Property and equipment, net 33,096 31,512 28,181 26,879 26,283 25,533
Long-term Activity Ratio
Net fixed asset turnover1 3.20 3.41 3.71 3.44 2.93 2.92
Benchmarks
Net Fixed Asset Turnover, Competitors2
Costco Wholesale Corp. 8.19 8.49 8.48 7.84 7.29 7.03
Walmart Inc. 5.51 5.73 5.74 5.77 4.74 4.58
Net Fixed Asset Turnover, Sector
Consumer Staples Distribution & Retail 5.76 5.84 5.69 4.80 4.64
Net Fixed Asset Turnover, Industry
Consumer Staples 5.29 5.35 5.21 4.51 4.40

Based on: 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).

1 2024 Calculation
Net fixed asset turnover = Sales ÷ Property and equipment, net
= 105,803 ÷ 33,096 = 3.20

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Target Corp. net fixed asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Target Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Feb 3, 2024 Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019
Selected Financial Data (US$ in millions)
Sales 105,803 107,588 104,611 92,400 77,130 74,433
 
Property and equipment, net 33,096 31,512 28,181 26,879 26,283 25,533
Operating lease assets 3,362 2,657 2,556 2,227 2,236 1,965
Property and equipment, net (including operating lease, right-of-use asset) 36,458 34,169 30,737 29,106 28,519 27,498
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 2.90 3.15 3.40 3.17 2.70 2.71
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Costco Wholesale Corp. 7.55 7.74 7.67 7.01 6.48 7.03
Walmart Inc. 4.93 5.08 5.04 5.05 4.09 4.58
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Consumer Staples Distribution & Retail 5.17 5.19 5.05 4.21 4.58
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Staples 4.78 4.82 4.69 4.01 4.29

Based on: 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).

1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Sales ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 105,803 ÷ 36,458 = 2.90

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Target Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 and from 2023 to 2024.

Total Asset Turnover

Target Corp., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Feb 3, 2024 Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019
Selected Financial Data (US$ in millions)
Sales 105,803 107,588 104,611 92,400 77,130 74,433
Total assets 55,356 53,335 53,811 51,248 42,779 41,290
Long-term Activity Ratio
Total asset turnover1 1.91 2.02 1.94 1.80 1.80 1.80
Benchmarks
Total Asset Turnover, Competitors2
Costco Wholesale Corp. 3.57 3.45 3.47 3.24 2.94 3.29
Walmart Inc. 2.55 2.49 2.32 2.20 2.20 2.33
Total Asset Turnover, Sector
Consumer Staples Distribution & Retail 2.60 2.47 2.31 2.27 2.40
Total Asset Turnover, Industry
Consumer Staples 1.56 1.52 1.46 1.36 1.42

Based on: 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).

1 2024 Calculation
Total asset turnover = Sales ÷ Total assets
= 105,803 ÷ 55,356 = 1.91

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Target Corp. total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Equity Turnover

Target Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Feb 3, 2024 Jan 28, 2023 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019
Selected Financial Data (US$ in millions)
Sales 105,803 107,588 104,611 92,400 77,130 74,433
Shareholders’ investment 13,432 11,232 12,827 14,440 11,833 11,297
Long-term Activity Ratio
Equity turnover1 7.88 9.58 8.16 6.40 6.52 6.59
Benchmarks
Equity Turnover, Competitors2
Costco Wholesale Corp. 10.57 9.49 10.79 10.93 8.93 9.80
Walmart Inc. 7.66 7.90 6.82 6.86 6.96 7.04
Equity Turnover, Sector
Consumer Staples Distribution & Retail 8.42 7.67 7.44 7.26 7.41
Equity Turnover, Industry
Consumer Staples 6.49 6.06 5.85 5.68 5.50

Based on: 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).

1 2024 Calculation
Equity turnover = Sales ÷ Shareholders’ investment
= 105,803 ÷ 13,432 = 7.88

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Target Corp. equity turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.