TTM
28.1%
YoY change
−0.28pp
Trough year (2022)
24.6%
Peak year (2004)
32.9%
Latest annual
27.9%
Gross Margin history chart for Target (TGT) from 1985 to 2025
Latest: 27.9%
Gross Margin change chart for Target (TGT) from 1985 to 2025
Latest: −0.28pp
Gross Margin history table for Target (TGT) from 1985 to 2025
| 2025 | 27.9% | -0.28pp | ||
| 2024 | 28.2% | +0.67pp | ||
| 2023 | 27.5% | +2.97pp | ||
| 2022 | 24.6% | -4.71pp | ||
| 2021 | 29.3% | +0.01pp | ||
| 2020 | 29.3% | -0.49pp | ||
| 2019 | 29.8% | +0.49pp | ||
| 2018 | 29.3% | -0.42pp | ||
| 2017 | 29.7% | -0.37pp | ||
| 2016 | 30.1% | +0.87pp | ||
| 2015 | 29.2% | -0.19pp | ||
| 2014 | 29.4% | -0.41pp | ||
| 2013 | 29.8% | -0.58pp | ||
| 2012 | 30.4% | -0.48pp | ||
| 2011 | 30.9% | -0.01pp | ||
| 2010 | 30.9% | +0.62pp | ||
| 2009 | 30.3% | +0.72pp | ||
| 2008 | 29.5% | -3.03pp | ||
| 2007 | 32.6% | -0.02pp | ||
| 2006 | 32.6% | +0.43pp | ||
| 2005 | 32.1% | -0.72pp | ||
| 2004 | 32.9% | +0.42pp | ||
| 2003 | 32.4% | +0.61pp | ||
| 2002 | 31.8% | -0.00pp | ||
| 2001 | 31.8% | +0.39pp | ||
| 2000 | 31.5% | -0.21pp | ||
| 1999 | 31.7% | +0.43pp | ||
| 1998 | 31.2% | +4.44pp | ||
| 1997 | 26.8% | +0.22pp | ||
| 1996 | 26.6% | +1.11pp | ||
| 1995 | 25.5% | -1.16pp | ||
| 1994 | 26.6% | +0.27pp | ||
| 1993 | 26.4% | -0.41pp | ||
| 1992 | 26.8% | -0.32pp | ||
| 1991 | 27.1% | -0.67pp | ||
| 1990 | 27.7% | +0.21pp | ||
| 1989 | 27.5% | +0.35pp | ||
| 1988 | 27.2% | +0.73pp | ||
| 1987 | 26.5% | -1.14pp | ||
| 1986 | 27.6% | -1.10pp | ||
| 1985 | 28.7% | — |
- 202527.9%-0.28pp
- 202428.2%+0.67pp
- 202327.5%+2.97pp
- 202224.6%-4.71pp
- 202129.3%+0.01pp
- 202029.3%-0.49pp
- 201929.8%+0.49pp
- 201829.3%-0.42pp
- 201729.7%-0.37pp
- 201630.1%+0.87pp
- 201529.2%-0.19pp
- 201429.4%-0.41pp
- 201329.8%-0.58pp
- 201230.4%-0.48pp
- 201130.9%-0.01pp
- 201030.9%+0.62pp
- 200930.3%+0.72pp
- 200829.5%-3.03pp
- 200732.6%-0.02pp
- 200632.6%+0.43pp
- 200532.1%-0.72pp
- 200432.9%+0.42pp
- 200332.4%+0.61pp
- 200231.8%-0.00pp
- 200131.8%+0.39pp
- 200031.5%-0.21pp
- 199931.7%+0.43pp
- 199831.2%+4.44pp
- 199726.8%+0.22pp
- 199626.6%+1.11pp
- 199525.5%-1.16pp
- 199426.6%+0.27pp
- 199326.4%-0.41pp
- 199226.8%-0.32pp
- 199127.1%-0.67pp
- 199027.7%+0.21pp
- 198927.5%+0.35pp
- 198827.2%+0.73pp
- 198726.5%-1.14pp
- 198627.6%-1.10pp
- 198528.7%—
Gross Margin values are taken from Target's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Gross Margin at Target (TGT)
According to Target's latest reported financial statements, the company's latest reported gross margin is 28.1%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Target (TGT) most recent annual gross margin stands at 27.93% (2025) – contracted 0.3 percentage points year-over-year.
The record annual gross margin stands at 32.87%, reached in 2004; the historical low of 24.57% was recorded in 2022.
Target Gross Margin by Year
Target Gross Margin 2025: 27.9%
In 2025, Target reported gross margin of 27.93%, contracted 0.3 percentage points from 2024.
Target Gross Margin 2024: 28.2%
Target gross margin in 2024 was 28.21%, expanded 0.7 percentage points from 2023.
Target Gross Margin 2023: 27.5%
2023's gross margin for Target came in at 27.54%, expanded 3.0 percentage points from 2022.
Target Gross Margin 2022: 24.6%
Target posted gross margin of 24.57% in 2022, contracted 4.7 percentage points from 2021. This figure represents the lowest annual value in the available history.
Target Gross Margin 2021: 29.3%
Target gross margin in 2021 was 29.28%.
See more financial history for Target (TGT).
Sector peers by Gross Margin
Consumer Defensive peers of Target (TGT), ranked by their latest gross margin
| 67.8% | |
| 67.3% | |
| 61.7% | |
| 55.5% | |
| 54.1% | |
| 50.3% | |
| 25.0% | |
| 12.9% |
- 67.8%
- 61.7%
- 54.1%
- 25.0%
- 12.9%
Frequently asked questions
Target (TGT) Key Financials
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