Capital Expenditures for Target (TGT)
According to Target's latest reported financial statements, the company's current capital expenditures (TTM) is $3.63B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
TGT
Currently viewingCapital ExpendituresSwitch metric
Latest period
$3.63B
YoY change
+28.9%
5Y CAGR
+7.1%
Peak year (2022)
$5.53B
Cumulative capital expenditures
$95.30B
CapEx history chart for Target (TGT) from 1989 to 2025
CapEx history table for Target (TGT) from 1989 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $3.73B | +28.9% | ||
| 2024 | $2.89B | -39.8% | ||
| 2023 | $4.81B | -13.1% | ||
| 2022 | $5.53B | +56.0% | ||
| 2021 | $3.54B | +33.8% | ||
| 2020 | $2.65B | -12.5% | ||
| 2019 | $3.03B | -13.9% | ||
| 2018 | $3.52B | +38.8% | ||
| 2017 | $2.53B | +63.7% | ||
| 2016 | $1.55B | +7.6% | ||
| 2015 | $1.44B | -19.5% | ||
| 2014 | $1.79B | -48.3% | ||
| 2013 | $3.45B | +5.4% | ||
| 2012 | $3.28B | -25.0% | ||
| 2011 | $4.37B | +105.2% | ||
| 2010 | $2.13B | +23.1% | ||
| 2009 | $1.73B | -51.3% | ||
| 2008 | $3.55B | -18.8% | ||
| 2007 | $4.37B | +11.2% | ||
| 2006 | $3.93B | +15.9% | ||
| 2005 | $3.39B | +10.4% | ||
| 2004 | $3.07B | +2.1% | ||
| 2003 | $3.00B | -6.7% | ||
| 2002 | $3.22B | +1.8% | ||
| 2001 | $3.16B | +25.1% | ||
| 2000 | $2.53B | +31.8% | ||
| 1999 | $1.92B | +9.2% | ||
| 1998 | $1.76B | +29.8% | ||
| 1997 | $1.35B | +4.1% | ||
| 1996 | $1.30B | -14.5% | ||
| 1995 | $1.52B | +39.0% | ||
| 1994 | $1.09B | +13.0% | ||
| 1993 | $969.00M | +5.6% | ||
| 1992 | $918.00M | -9.0% | ||
| 1991 | $1.01B | +48.8% | ||
| 1990 | $678.00M | +9.5% | ||
| 1989 | $619.00M | — |
CapEx values are taken from Target's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
The 2025 reading of Target (TGT) capital expenditures is $3.73B – grew 28.9% year-over-year.
Looking at the 2020–2025 (5 years) stretch, Target capital expenditures compounded at +7.1% per year, with the latest reading among the more recent periods of the dataset.
Target capital expenditures plunged from $5.53B in 2022 to $3.73B in 2025, a 32.6% drawdown.
The highest annual capital expenditures of $5.53B was reported in 2022. The lowest in the available history was $619.00M in 1989.
Within Consumer Defensive, Target (TGT) ranks 5th among 8 peers we track. The peer median for capital expenditures is $2.94B.
Target Capital Expenditures by Year
Target Capital Expenditures 2025: $3.73B
Target capital expenditures in 2025 was $3.73B, grew 28.9% from 2024.
Target Capital Expenditures 2024: $2.89B
Target capital expenditures in 2024 was $2.89B, plunged 39.8% below 2023.
Target Capital Expenditures 2023: $4.81B
Target capital expenditures in 2023 was $4.81B, declined 13.1% below 2022.
Target Capital Expenditures 2022: $5.53B
Target capital expenditures in 2022 was $5.53B, surged 56.0% from 2021. This figure represents the highest annual value in the available history.
Target Capital Expenditures 2021: $3.54B
Target capital expenditures in 2021 was $3.54B.
See more financial history for Target (TGT).
Sector peers — CapEx
Companies in the same sector as Target, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Walmart Inc. (WMT) | $26.64B | Consumer Defensive |
| Costco Wholesale Corporation (COST) | $5.50B | Consumer Defensive |
| PepsiCo, Inc. (PEP) | $4.42B | Consumer Defensive |
| The Procter & Gamble Company (PG) | $3.77B | Consumer Defensive |
| The Coca-Cola Company (KO) | $2.11B | Consumer Defensive |
| Philip Morris International Inc. (PM) | $1.57B | Consumer Defensive |
| Altria Group, Inc. (MO) | $216.00M | Consumer Defensive |
| Monster Beverage Corporation (MNST) | $132.28M | Consumer Defensive |
Frequently asked questions
What is Target's capital expenditures?
- Latest reported capital expenditures for Target (TGT) is $3.63B (period ending January 31, 2026).
How has Target capital expenditures changed year-over-year?
- Target (TGT) capital expenditures changed +28.9% year-over-year on the latest annual filing.
What is the long-term growth rate of Target capital expenditures?
- Target (TGT) capital expenditures compound annual growth rate is +7.1% over the most recent 5 years available.
When did Target capital expenditures hit its highest annual value?
- Target capital expenditures reached its highest annual value of $5.53B in 2022.
What was Target capital expenditures in 2024?
- Target (TGT) capital expenditures in 2024 was $2.89B.
What was Target capital expenditures in 2025?
- Target (TGT) capital expenditures in 2025 was $3.73B.
Metrics overview
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