Operating Income for Target (TGT)
According to Target's latest reported financial statements, the company's current operating income (TTM) is $5.12B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
TGT
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$5.12B
YoY change
-8.1%
5Y CAGR
-4.8%
Peak year (2021)
$8.95B
Cumulative operating income
$60.12B
Operating Income history chart for Target (TGT) from 1985 to 2025
Operating Income history table for Target (TGT) from 1985 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $5.12B | -8.1% | ||
| 2024 | $5.57B | -2.5% | ||
| 2023 | $5.71B | +48.3% | ||
| 2022 | $3.85B | -57.0% | ||
| 2021 | $8.95B | +36.8% | ||
| 2020 | $6.54B | +40.4% | ||
| 2019 | $4.66B | +13.3% | ||
| 2018 | $4.11B | -2.7% | ||
| 2017 | $4.22B | -13.2% | ||
| 2016 | $4.86B | +701.3% | ||
| 2015 | $607.00M | -31.2% | ||
| 2014 | $882.00M | -15.9% | ||
| 2013 | $1.05B | +53.4% | ||
| 2012 | $684.00M | -21.0% | ||
| 2011 | $866.00M | +14.4% | ||
| 2010 | $757.00M | -5.8% | ||
| 2009 | $804.00M | -10.1% | ||
| 2008 | $894.00M | — | ||
| 2007 | $0 | — | ||
| 2006 | $0 | — | ||
| 2005 | $0 | — | ||
| 2004 | $0 | — | ||
| 2003 | $0 | — | ||
| 2002 | $0 | — | ||
| 2001 | $0 | — | ||
| 2000 | $0 | — | ||
| 1999 | $0 | — | ||
| 1998 | $0 | — | ||
| 1997 | $0 | — | ||
| 1996 | $0 | — | ||
| 1995 | $0 | — | ||
| 1994 | $0 | — | ||
| 1993 | $0 | — | ||
| 1992 | $0 | — | ||
| 1991 | $0 | — | ||
| 1990 | $0 | — | ||
| 1989 | $0 | — | ||
| 1988 | $0 | — | ||
| 1987 | $0 | — | ||
| 1986 | $0 | — | ||
| 1985 | $0 | — |
Operating Income values are taken from Target's reported income 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) operating income is $5.12B – declined 8.1% year-over-year.
Looking at the 2020–2025 (5 years) stretch, Target operating income compounded at -4.8% per year, with a net decline across the window.
Target operating income plunged from $8.95B in 2021 to $5.12B in 2025, a 42.8% drawdown.
$8.95B stands as the all-time-high annual operating income, posted in 2021, against a low of $0 during 1985.
Within Consumer Defensive, Target (TGT) ranks 8th among 8 peers we track. The peer median for operating income is $14.35B.
Target Operating Income by Year
Target Operating Income 2025: $5.12B
Target operating income in 2025 was $5.12B, declined 8.1% below 2024.
Target Operating Income 2024: $5.57B
Target operating income in 2024 was $5.57B, edged down 2.5% below 2023.
Target Operating Income 2023: $5.71B
Target operating income in 2023 was $5.71B, surged 48.3% from 2022.
Target Operating Income 2022: $3.85B
Target operating income in 2022 was $3.85B, plunged 57.0% below 2021.
Target Operating Income 2021: $8.95B
Target operating income in 2021 was $8.95B.
See more financial history for Target (TGT).
Sector peers — Operating Income
Companies in the same sector as Target, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Walmart Inc. (WMT) | $29.82B | Consumer Defensive |
| The Procter & Gamble Company (PG) | $20.45B | Consumer Defensive |
| Altria Group, Inc. (MO) | $15.06B | Consumer Defensive |
| Philip Morris International Inc. (PM) | $14.93B | Consumer Defensive |
| The Coca-Cola Company (KO) | $13.76B | Consumer Defensive |
| PepsiCo, Inc. (PEP) | $13.49B | Consumer Defensive |
| Costco Wholesale Corporation (COST) | $10.38B | Consumer Defensive |
| Monster Beverage Corporation (MNST) | $2.42B | Consumer Defensive |
Frequently asked questions
What is Target's operating income?
- Latest reported operating income for Target (TGT) is $5.12B (period ending January 31, 2026).
How has Target operating income changed year-over-year?
- Target (TGT) operating income changed -8.1% year-over-year on the latest annual filing.
What is the long-term growth rate of Target operating income?
- Target (TGT) operating income compound annual growth rate is -4.8% over the most recent 5 years available.
When did Target operating income hit its highest annual value?
- Target operating income reached its highest annual value of $8.95B in 2021.
What was Target operating income in 2024?
- Target (TGT) operating income in 2024 was $5.57B.
What was Target operating income in 2025?
- Target (TGT) operating income in 2025 was $5.12B.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
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