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Ratios
Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Target (TGT) Operating Margin (2016 - 2026)

Target filings provide 18 years of Operating Margin readings, the most recent being 4.53% for Q1 2026.

  • On a quarterly basis, Operating Margin fell 21.0% to 4.53% in Q1 2026 year-over-year; TTM through Jan 2026 was 4.88%, a 34.0% decrease, with the full-year FY2026 number at 4.88%, down 34.0% from a year prior.
  • Operating Margin hit 4.53% in Q1 2026 for Target, up from 3.75% in the prior quarter.
  • In the past five years, Operating Margin ranged from a high of 6.76% in Q1 2022 to a low of 1.23% in Q3 2022.
  • Median Operating Margin over the past 5 years was 5.19% (2023), compared with a mean of 4.86%.
  • Biggest five-year swings in Operating Margin: tumbled -857bps in 2022 and later skyrocketed 360bps in 2023.
  • Target's Operating Margin stood at 3.85% in 2022, then skyrocketed by 35bps to 5.19% in 2023, then fell by -12bps to 4.55% in 2024, then dropped by -18bps to 3.75% in 2025, then grew by 21bps to 4.53% in 2026.
  • The last three reported values for Operating Margin were 4.53% (Q1 2026), 3.75% (Q4 2025), and 5.22% (Q3 2025) per Business Quant data.