Enterprise Value (EV)
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Target Corp. pages available for free this week:
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Return on Assets (ROA) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Current Enterprise Value (EV)
Target Corp., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Total equity | |
| Add: Current portion of long-term debt and other borrowings (per books) | |
| Add: Long-term debt and other borrowings, excluding current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2026-01-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Target Corp., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Target Corp. Annual Report.
3 2026 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The information presents a fluctuating pattern in key financial metrics over a six-year period. Enterprise value (EV) demonstrates a general decline from 2021 to the projected figures for 2026, although with intermediate increases. Common equity (market value) and total equity mirror each other, exhibiting a similar trajectory of initial growth followed by a substantial decrease. Total equity and debt shows a more moderate fluctuation, with a peak in 2022 and a subsequent decline.
- Enterprise Value Trend
- Enterprise value increased from US$93.212 billion in 2021 to US$107.691 billion in 2022, representing a growth of approximately 15.5%. A subsequent decrease to US$89.184 billion was observed in 2023, remaining relatively stable in 2024 at US$89.183 billion. Projections indicate a further decline to US$60.052 billion in 2025 and US$64.758 billion in 2026. This suggests a diminishing overall valuation as perceived by the market.
- Equity and Debt Composition
- Total equity and debt increased from US$101.723 billion in 2021 to US$113.602 billion in 2022, then decreased to US$91.413 billion in 2023 and US$92.988 billion in 2024. Projected values indicate a continued decline to US$64.814 billion in 2025 and US$70.246 billion in 2026. The consistent alignment between common equity (market value) and total equity suggests that market valuation closely reflects the book value of equity.
- Equity Value Decline
- Common equity (market value) and total equity experienced a significant reduction from US$89.043 billion and US$89.043 billion respectively in 2021 to US$48.874 billion and US$48.874 billion in 2025. A slight recovery to US$53.790 billion is projected for 2026. This substantial decrease in equity value is a prominent feature of the observed trends and warrants further investigation into the underlying causes.
The observed trends suggest a period of initial expansion followed by a contraction in valuation and equity. The projected figures for 2025 and 2026 indicate a continuation of this contraction, although with a potential stabilization in 2026. The relationship between enterprise value and the components of total equity and debt should be further analyzed to understand the drivers behind these changes.