Target (TGT) Operating Margin (2009 - 2026)
Target (TGT) reported Operating Margin of 4.46% for Q2 2026, down 171.0% on a YoY basis from 6.28% in Q2 2025, and down 1.56% quarter-over-quarter from 4.53% in Q1 2026.
Target (TGT) Operating Margin (2009 - 2026) Analysis & Trends
Target has reported Operating Margin for 18 years, with the latest figure at 4.46% in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin fell 171.0% year-over-year to 4.46%; the trailing twelve-month figure through May 2026 stood at 4.49% (down 93.0% YoY), and the FY2026 full-year result was 4.88%, down 34.0% from the prior year.
- Operating Margin for Q2 2026 stood at 4.46%, down from 4.53% in the prior quarter.
- The five-year high for Operating Margin was 6.76% in Q1 2022, with the low at 1.23% in Q3 2022.
- Historically, Operating Margin has averaged 4.84% across 5 years, with a median of 5.01% in 2023.
- Annual changes were most pronounced in 2022 — Operating Margin sank 857 bps — and 2023, when it surged 360 bps.
- Target's Operating Margin stood at 3.85% in 2022, then surged by 35 bps to 5.19% in 2023, then retreated by 12 bps to 4.55% in 2024, then decreased by 18 bps to 3.75% in 2025, then climbed by 19 bps to 4.46% in 2026.
- The last three Operating Margin figures came in at 4.46% (Q2 2026), 4.53% (Q1 2026), and 3.75% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Walmart | 956.84 Bn | 952.46 Bn | 42.63 Bn | 4.27% |
| 2 | Costco Wholesale | 432.83 Bn | 414.59 Bn | 8.88 Bn | 3.74% |
| 3 | Target | 56.21 Bn | 52.67 Bn | 7.38 Bn | 4.46% |
| 4 | Dollar General | 23.49 Bn | 22.35 Bn | 3.32 Bn | -10.86% |
| 5 | Dollar Tree | 21.20 Bn | 20.20 Bn | 1.83 Bn | 9.52% |
| 6 | BJ's Wholesale Club Holdings | 11.80 Bn | 11.77 Bn | 1.03 Bn | 3.67% |
| 7 | Pricesmart | 5.36 Bn | 5.05 Bn | 265.07 Mn | 5.04% |
| 8 | Ollie's Bargain Outlet Holdings | 4.83 Bn | 4.53 Bn | 310.92 Mn | 14.00% |
| 9 | Bbb Foods | 22.42 Mn | -214.22 Mn | 210.92 Mn | 22.24% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 2, 2026 | 4.46% |
| Jan 31, 2026 | 4.53% |
| Nov 1, 2025 | 3.75% |
| Aug 2, 2025 | 5.22% |
| May 3, 2025 | 6.17% |
| Feb 1, 2025 | 4.75% |
| Nov 2, 2024 | 4.55% |
| Aug 3, 2024 | 6.42% |
| May 4, 2024 | 5.28% |
| Feb 3, 2024 | 5.84% |
| Oct 28, 2023 | 5.19% |
| Jul 29, 2023 | 4.83% |
| Apr 29, 2023 | 5.24% |
| Jan 28, 2023 | 3.69% |
| Oct 29, 2022 | 3.85% |
| Jul 30, 2022 | 1.23% |
| Apr 30, 2022 | 5.35% |
| Jan 29, 2022 | 6.76% |
| Oct 30, 2021 | 7.84% |
| Jul 31, 2021 | 9.81% |