Target (TGT) Gross Margin (2009 - 2026)
Target (TGT) posted Gross Margin of 29.01% for Q2 2026, up 8.95% on a QoQ basis from 26.63% in Q1 2026, and up 84.0% year-over-year from 15.77% in Q2 2025.
Target (TGT) Gross Margin (2009 - 2026) Analysis & Trends
Target's Gross Margin history runs 18 years deep, the most recent figure standing at 29.01% for Q2 2026.
- Quarterly Gross Margin rose 84.0% year-over-year to 29.01% in Q2 2026, while the trailing twelve-month figure through May 2026 was 28.14% (up 7.0% YoY) and the FY2026 annual result came in at 27.93%, down 28.0% from the prior year.
- Gross Margin was 29.01% for Q2 2026 at Target, up from 26.63% in the prior quarter.
- Across five years, Gross Margin topped out at 29.96% in Q3 2024 and bottomed at 22.64% in Q3 2022.
- A 5-year average of 27.22% and a median of 27.77% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin sank 868 bps — and 2023, when it surged 551 bps.
- Target's Gross Margin stood at 25.79% in 2022, then climbed by 11 bps to 28.54% in 2023, then declined by 1 bps to 28.31% in 2024, then fell by 0 bps to 28.23% in 2025, then advanced by 3 bps to 29.01% in 2026.
- Business Quant data shows TGT's Gross Margin at 29.01% in Q2 2026, 26.63% in Q1 2026, and 28.23% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Walmart | 862.66 Bn | 858.28 Bn | 42.63 Bn | 24.26% |
| 2 | Costco Wholesale | 410.89 Bn | 392.65 Bn | 8.88 Bn | 12.76% |
| 3 | Target | 61.06 Bn | 57.53 Bn | 7.38 Bn | 29.01% |
| 4 | Dollar General | 25.36 Bn | 24.22 Bn | 3.32 Bn | 30.45% |
| 5 | Dollar Tree | 22.75 Bn | 21.75 Bn | 1.83 Bn | 36.87% |
| 6 | BJ's Wholesale Club Holdings | 11.75 Bn | 11.72 Bn | 1.03 Bn | 18.16% |
| 7 | Pricesmart | 5.65 Bn | 5.52 Bn | 262.22 Mn | 17.70% |
| 8 | Bbb Foods | 4.68 Bn | 4.08 Bn | 210.92 Mn | 16.20% |
| 9 | Ollie's Bargain Outlet Holdings | 4.00 Bn | 3.70 Bn | 310.92 Mn | 39.90% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 2, 2026 | 29.01% |
| Jan 31, 2026 | 26.63% |
| Nov 1, 2025 | 28.23% |
| Aug 2, 2025 | 28.99% |
| May 3, 2025 | 28.17% |
| Feb 1, 2025 | 26.24% |
| Nov 2, 2024 | 28.31% |
| Aug 3, 2024 | 29.96% |
| May 4, 2024 | 28.78% |
| Feb 3, 2024 | 26.39% |
| Oct 28, 2023 | 28.54% |
| Jul 29, 2023 | 28.16% |
| Apr 29, 2023 | 27.39% |
| Jan 28, 2023 | 23.48% |
| Oct 29, 2022 | 25.79% |
| Jul 30, 2022 | 22.64% |
| Apr 30, 2022 | 26.65% |
| Jan 29, 2022 | 26.57% |
| Oct 30, 2021 | 29.03% |
| Jul 31, 2021 | 31.32% |