TARGET CORP
TGT · NYSE · CIK 0000027419
SIC 5331
Retail-Variety Stores
Category
Retail
Entity
operating
Incorp.
MN
Fiscal Y/E
0201
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$118.46
-6.79 (-5.42%)
Open
$125.62
High
$125.69
Low
$117.69
Prev Close
$125.25
Volume
7,383,016
52W High
$133.10
52W Low
$82.60
50-day MA
$121.99
Quote as of: 2026-05-11
Market Cap
$56.89B
P/E
15.41
P/B
3.52
PEG
2.37
EPS
8.13
BPS
35.70
Dividend Yield
3.59%
Beta
1.01
ROE
22.92%
ROA
6.23%
Current Ratio
0.94
Gross Margin
28.58%
Operating Margin
7.05%
Net Margin
5.10%
Book Value/Share
$35.70
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (6 methods)
$30.98B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | $36.71B | +55% |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | — | N/A |
Justified P/E 순이익 × 산업 평균 P/E | $55.58B | +2% |
P/B 배수 자본 × 산업 평균 P/B | $24.25B | +135% |
P/S 배수 매출 × 산업 평균 P/S | $145.24B | -61% |
DCF (Gordon) CF × (1+g) / (r − g) | $25.26B | +125% |
DDM (Gordon) D × (1+g) / (r − g) | $18.29B | +211% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 6 were applicable. Their median fair-value lands +83.6% below the current market cap → the stock trades above most formulas' estimates (overvalued). 4 methods flag overvalued, 1 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
Overvalued +55.0%√(22.5 × 순이익 × 자본)
Current
$56.89B
Implied fair
$36.71B
Gap (current − fair)
+$20.18B(+55.0%)
NetIncome = $3.71B Equity = $16.16B √(22.5 × $3.71B × $16.16B) = $36.71B
- 최대 PER 15배
- 최대 PBR 1.5배
- 안정적 흑자 기업 가정 (금융·고성장 부정확)
Graham Formula
순이익 × (8.5 + 2 × 성장률%)
Not applicable: -
Justified P/E
Fair +2.4%순이익 × 산업 평균 P/E
Current
$56.89B
Implied fair
$55.58B
Gap (current − fair)
+$1.31B(+2.4%)
NetIncome = $3.71B Industry P/E = 15× $3.71B × 15 = $55.58B
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
Overvalued +134.6%자본 × 산업 평균 P/B
Current
$56.89B
Implied fair
$24.25B
Gap (current − fair)
+$32.64B(+134.6%)
Equity = $16.16B Industry P/B = 1.5× $16.16B × 1.5 = $24.25B
- 산업 평균 PBR 1.5x 가정
- 은행·보험·자산집약적 산업에 특히 유효
P/S 배수
Undervalued -60.8%매출 × 산업 평균 P/S
Current
$56.89B
Implied fair
$145.24B
Gap (current − fair)
$-88.35B(-60.8%)
Revenue = $72.62B Industry P/S = 2× $72.62B × 2 = $145.24B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Overvalued +125.2%CF × (1+g) / (r − g)
Current
$56.89B
Implied fair
$25.26B
Gap (current − fair)
+$31.63B(+125.2%)
FCF = $2.83B Discount r = 4.0% + 5.0% = 9.0% Growth g = -2.0% $2.83B × (1 + -2.0%) / (9.0% − -2.0%) = $25.26B
- 현금흐름 입력: FCF (잉여현금흐름)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 -2.0% (실질 GDP 수준)
DDM (Gordon)
Overvalued +211.0%D × (1+g) / (r − g)
Current
$56.89B
Implied fair
$18.29B
Gap (current − fair)
+$38.60B(+211.0%)
Dividend D = $2.05B Discount r = 9.0% Growth g = -2.0% $2.05B × (1 + -2.0%) / (9.0% − -2.0%) = $18.29B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 -2.0%
DCF sensitivity: discount rate × terminal growth
Each cell is the (current vs FCF × (1+g) / (r − g)) discount % under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +19.2% | +39.1% | +58.9% | +78.8% | +98.7% |
| 2% | -1.6% | +18.0% | +37.7% | +57.4% | +77.0% |
| 3% | -22.1% | -2.6% | +16.9% | +36.4% | +55.8% |
| 4% | -42.1% | -22.8% | -3.5% | +15.8% | +35.1% |
| 5% | -61.8% | -42.7% | -23.6% | -4.5% | +14.7% |
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +64.6% | +92.0% | +119.5% | +146.9% | +174.3% |
| 2% | +35.8% | +63.0% | +90.2% | +117.3% | +144.5% |
| 3% | +7.6% | +34.5% | +61.4% | +88.3% | +115.2% |
| 4% | -20.1% | +6.6% | +33.2% | +59.9% | +86.5% |
| 5% | -47.2% | -20.8% | +5.6% | +31.9% | +58.3% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2026-03-11
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Cost of Revenue | 75,511 | 76,502 | 77,736 | 82,229 | 74,963 |
| Operating Income | 5,117 | 5,566 | 5,707 | 3,848 | 8,946 |
| Net Income | 3,705 | 4,091 | 4,138 | 2,780 | — |
| EPS (Basic) | 8.16 | 8.89 | 8.96 | 6.02 | 14.23 |
| EPS (Diluted) | 8.13 | 8.86 | 8.94 | 5.98 | 14.10 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 59,490 | 57,769 | 55,356 | 53,335 | 53,811 |
| Current Assets | 20,005 | 19,454 | 17,498 | 17,846 | 21,573 |
| Current Liabilities | 21,230 | 20,799 | 19,304 | 19,500 | 21,747 |
| Long-term Debt | 14,398 | 13,904 | 14,151 | 14,141 | 11,568 |
| Total Equity | 16,165 | 14,666 | 13,432 | 11,232 | 12,827 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 6,562 | 7,367 | 8,621 | 4,018 | 8,625 |
| Investing CF | -3,649 | -2,860 | -4,760 | -5,504 | -3,154 |
| Financing CF | -2,187 | -3,550 | -2,285 | -2,196 | -8,071 |
| CapEx | 3,727 | 2,891 | 4,806 | 5,528 | 3,544 |
| Dividends Paid | 2,053 | 2,046 | 2,011 | 1,836 | 1,548 |
📄 SEC Filings
Proxy Statement
DEF 14A
2026-04-27
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Annual Report
10-K
2026-03-11
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Current Report
8-K
2026-03-03
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2026-02-11
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2026-02-10
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2026-02-05
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2026-01-22
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2025-11-26
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2025-10-09
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2025-05-21
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2025-05-21
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2025-03-25
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Other filings (80)
SCHEDULE 13G
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2026-04-30
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2026-04-27
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2026-04-09
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2026-04-03
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SCHEDULE 13G/A
xslSCHEDULE_13G_X02/primary_doc.xml
2026-03-27
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2026-03-19
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144
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2026-03-17
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2026-03-16
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2026-03-16
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2026-03-16
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2026-03-13
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2026-03-13
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2026-03-11
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2026-03-11
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2026-03-11
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144
xsl144X01/primary_doc.xml
2026-03-10
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3
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2026-03-09
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3
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2026-02-23
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2025-11-04
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2025-10-31
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2025-07-29
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144
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424B2
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2025-05-30
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2025-05-30
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144
xsl144X01/primary_doc.xml
2025-05-28
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2025-05-07
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i52251px14a6g.htm
2025-05-02
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ARS
ARS
2025-04-28
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2025-04-10
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2025-04-10
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2025-04-10
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2025-04-10
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2025-04-10
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2025-03-21
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2025-03-20
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2025-03-20
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2025-03-14
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2025-03-14
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2025-03-14
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2025-03-14
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2025-03-14
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2025-03-14
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