Growth Metrics

Target (TGT) Cost of Revenue (2016 - 2026)

Target filings provide 18 years of Cost of Revenue readings, the most recent being $22.3 billion for Q1 2026.

  • On a quarterly basis, Cost of Revenue fell 2.01% to $22.3 billion in Q1 2026 year-over-year; TTM through Jan 2026 was $75.5 billion, a 1.29% decrease, with the full-year FY2026 number at $75.5 billion, down 1.3% from a year prior.
  • Cost of Revenue hit $22.3 billion in Q1 2026 for Target, up from $18.1 billion in the prior quarter.
  • In the past five years, Cost of Revenue ranged from a high of $24.0 billion in Q1 2023 to a low of $17.1 billion in Q2 2025.
  • Median Cost of Revenue over the past 5 years was $18.4 billion (2024), compared with a mean of $19.7 billion.
  • Biggest five-year swings in Cost of Revenue: increased 16.56% in 2022 and later decreased 11.64% in 2023.
  • Target's Cost of Revenue stood at $19.7 billion in 2022, then fell by 7.78% to $18.1 billion in 2023, then increased by 1.39% to $18.4 billion in 2024, then decreased by 1.44% to $18.1 billion in 2025, then rose by 23.19% to $22.3 billion in 2026.
  • The last three reported values for Cost of Revenue were $22.3 billion (Q1 2026), $18.1 billion (Q4 2025), and $17.9 billion (Q3 2025) per Business Quant data.