TTM
4.5%
YoY change
−0.34pp
Trough year (2022)
3.5%
Peak year (2006)
8.5%
Latest annual
4.9%
Operating Margin history chart for Target (TGT) from 1985 to 2025
Latest: 4.9%
Operating Margin change chart for Target (TGT) from 1985 to 2025
Latest: −0.34pp
Operating Margin history table for Target (TGT) from 1985 to 2025
| 2025 | 4.9% | -0.34pp | ||
| 2024 | 5.2% | -0.09pp | ||
| 2023 | 5.3% | +1.79pp | ||
| 2022 | 3.5% | -4.91pp | ||
| 2021 | 8.4% | +1.45pp | ||
| 2020 | 7.0% | +1.03pp | ||
| 2019 | 6.0% | +0.51pp | ||
| 2018 | 5.5% | -0.35pp | ||
| 2017 | 5.8% | -1.11pp | ||
| 2016 | 6.9% | +0.27pp | ||
| 2015 | 6.7% | +0.41pp | ||
| 2014 | 6.2% | -0.46pp | ||
| 2013 | 6.7% | -0.91pp | ||
| 2012 | 7.6% | -0.01pp | ||
| 2011 | 7.6% | -0.18pp | ||
| 2010 | 7.8% | +0.64pp | ||
| 2009 | 7.1% | +0.37pp | ||
| 2008 | 6.8% | -1.54pp | ||
| 2007 | 8.3% | -0.20pp | ||
| 2006 | 8.5% | +0.31pp | ||
| 2005 | 8.2% | +0.53pp | ||
| 2004 | 7.7% | +0.17pp | ||
| 2003 | 7.5% | +0.00pp | ||
| 2002 | 7.5% | +0.78pp | ||
| 2001 | 6.7% | +0.01pp | ||
| 2000 | 6.7% | -0.20pp | ||
| 1999 | 6.9% | +0.54pp | ||
| 1998 | 6.4% | +0.10pp | ||
| 1997 | 6.3% | +0.92pp | ||
| 1996 | 5.4% | +1.35pp | ||
| 1995 | 4.0% | -1.34pp | ||
| 1994 | 5.3% | -0.13pp | ||
| 1993 | 5.5% | -0.37pp | ||
| 1992 | 5.8% | +0.45pp | ||
| 1991 | 5.4% | -1.28pp | ||
| 1990 | 6.7% | -0.25pp | ||
| 1989 | 6.9% | +1.27pp | ||
| 1988 | 5.7% | +0.49pp | ||
| 1987 | 5.2% | -1.44pp | ||
| 1986 | 6.6% | -0.59pp | ||
| 1985 | 7.2% | — |
- 20254.9%-0.34pp
- 20245.2%-0.09pp
- 20235.3%+1.79pp
- 20223.5%-4.91pp
- 20218.4%+1.45pp
- 20207.0%+1.03pp
- 20196.0%+0.51pp
- 20185.5%-0.35pp
- 20175.8%-1.11pp
- 20166.9%+0.27pp
- 20156.7%+0.41pp
- 20146.2%-0.46pp
- 20136.7%-0.91pp
- 20127.6%-0.01pp
- 20117.6%-0.18pp
- 20107.8%+0.64pp
- 20097.1%+0.37pp
- 20086.8%-1.54pp
- 20078.3%-0.20pp
- 20068.5%+0.31pp
- 20058.2%+0.53pp
- 20047.7%+0.17pp
- 20037.5%+0.00pp
- 20027.5%+0.78pp
- 20016.7%+0.01pp
- 20006.7%-0.20pp
- 19996.9%+0.54pp
- 19986.4%+0.10pp
- 19976.3%+0.92pp
- 19965.4%+1.35pp
- 19954.0%-1.34pp
- 19945.3%-0.13pp
- 19935.5%-0.37pp
- 19925.8%+0.45pp
- 19915.4%-1.28pp
- 19906.7%-0.25pp
- 19896.9%+1.27pp
- 19885.7%+0.49pp
- 19875.2%-1.44pp
- 19866.6%-0.59pp
- 19857.2%—
Operating 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 Operating Margin at Target (TGT)
According to Target's latest reported financial statements, the company's latest reported operating margin is 4.5%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
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 operating margin stands at 4.88% (2025) – contracted 0.3 percentage points year-over-year.
2006 marks the peak operating margin at 8.52%, with the historical low of 3.53% recorded in 2022.
Target Operating Margin by Year
Target Operating Margin 2025: 4.9%
Target operating margin in 2025 was 4.88%, contracted 0.3 percentage points from 2024.
Target Operating Margin 2024: 5.2%
2024's operating margin for Target came in at 5.22%, contracted 0.1 percentage points from 2023.
Target Operating Margin 2023: 5.3%
Target posted operating margin of 5.31% in 2023, expanded 1.8 percentage points from 2022.
Target Operating Margin 2022: 3.5%
In 2022, Target reported operating margin of 3.53%, contracted 4.9 percentage points from 2021. This figure represents the lowest annual value in the available history.
Target Operating Margin 2021: 8.4%
Target operating margin in 2021 was 8.44%.
See more financial history for Target (TGT).
Sector peers by Operating Margin
Consumer Defensive peers of Target (TGT), ranked by their latest operating margin
| 50.7% | |
| 36.8% | |
| 29.3% | |
| 29.3% | |
| 23.2% | |
| 14.8% | |
| 4.2% | |
| 3.8% |
- 50.7%
- 29.3%
- 14.8%
- 4.2%
- 3.8%
Frequently asked questions
Target (TGT) Key Financials
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