Question 1

What is Target's P/FCF ratio?

Accepted Answer

Target (TGT) P/FCF ratio is 13.4× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Target?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Target specifically, the relevant sector benchmark is the current sector median of 16.8×.

Question 5

Is Target's P/FCF ratio high or low?

Accepted Answer

Target's P/FCF ratio of 13.4× is below its own 5-year average of 35.2× and below the sector median of 16.8×. That places the current reading at the 15th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Target's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Target (TGT) P/FCF ratio has ranged from a low of 6.4× in 2017 to a high of 345.7× in 2005. The 5-year average is 35.2× and the 5-year median is 16.1×.

Question 7

What was Target's P/FCF ratio in 2026?

Accepted Answer

Target (TGT) P/FCF ratio at the end of 2026 was 16.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Target's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2026	$47.78B	$2.93B	16.3×	+2.2×	Jan 31, 2026
2025	$63.00B	$4.48B	14.1×	-3.5×	Feb 1, 2025
2024	$67.17B	$3.81B	17.6×	—	Feb 3, 2024
2023	$77.57B	−$1.51B	—	—	Jan 28, 2023
2022	$103.63B	$5.08B	20.4×	+8.9×	Jan 29, 2022
2021	$90.73B	$7.88B	11.5×	-2.2×	Jan 30, 2021
2020	$56.06B	$4.09B	13.7×	-1.4×	Feb 1, 2020
2019	$37.00B	$2.46B	15.1×	+6.0×	Feb 2, 2019
2018	$39.96B	$4.39B	9.1×	-0.1×	Feb 3, 2018
2017	$35.65B	$3.89B	9.2×	-0.9×	Jan 28, 2017
2016	$44.21B	$4.41B	10.0×	-7.7×	Jan 30, 2016
2015	$46.96B	$2.65B	17.7×	+6.0×	Jan 31, 2015
2014	$35.81B	$3.07B	11.7×	-7.7×	Feb 1, 2014
2013	$39.67B	$2.05B	19.4×	-11.9×	Feb 2, 2013
2012	$33.35B	$1.07B	31.3×	+19.3×	Jan 28, 2012
2011	$37.64B	$3.14B	12.0×	+2.8×	Jan 29, 2011
2010	$37.93B	$4.15B	9.1×	-17.4×	Jan 30, 2010
2009	$23.47B	$883.00M	26.6×	—	Jan 31, 2009
2008	$45.95B	−$244.00M	—	—	Feb 2, 2008
2007	$53.09B	$934.00M	56.8×	+12.5×	Feb 3, 2007
2006	$47.17B	$1.06B	44.4×	-301.3×	Jan 28, 2006
2005	$43.90B	$127.00M	345.7×	+123.6×	Jan 29, 2005
2004	$34.64B	$156.00M	222.1×	—	Jan 31, 2004
2003	$25.68B	−$1.63B	—	—	Feb 1, 2003
2002	$39.29B	−$1.17B	—	—	Feb 2, 2002


Hershey (HSY)	19.6×
Tyson Foods (TSN)	18.4×
Colgate-Palmolive (CL)	18.2×
Kenvue (KVUE)	18.1×
Hormel Foods (HRL)	17.1×
Universal Corporation (UVV)	16.5×
Marzetti (MZTI)	15.3×
Constellation Brands (STZ)	15.3×
General Mills (GIS)	14.9×
Brown-Forman (BF-B)	13.2×
Altria Group (MO)	12.8×
Performance Food Group (PFGC)	12.7×
Kimberly-Clark (KMB)	12.4×
Dollar Tree (DLTR)	12.0×
J. M. Smucker (SJM)	11.5×
Kroger (KR)	11.2×
Conagra Brands (CAG)	10.7×
Lamb Weston (LW)	10.3×
Campbell Soup (CPB)	8.9×
Dollar General (DG)	8.7×
Coca-Cola Europacific Partners (CCEP)	8.3×
Archer-Daniels-Midland (ADM)	7.3×
Molson Coors Beverage (TAP)	7.0×
Kraft Heinz (KHC)	6.6×
Albertsons Companies (ACI)	4.4×

P/FCF Ratio for Target (TGT)

P/FCF Ratio daily chart for Target (TGT)

Historical P/FCF Ratio for Target (TGT) from 2002 to 2026

About P/FCF Ratio at Target (TGT)

Target P/FCF Ratio by Year

Target P/FCF Ratio 2026: 16.3×

Target P/FCF Ratio 2025: 14.1×

Target P/FCF Ratio 2024: 17.6×

Target P/FCF Ratio 2022: 20.4×

Target P/FCF Ratio 2021: 11.5×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Target (TGT) Key Financials

P/FCF Ratio daily chart for Target (TGT)

Historical P/FCF Ratio for Target (TGT) from 2002 to 2026

About P/FCF Ratio at Target (TGT)

Target P/FCF Ratio by Year

Target P/FCF Ratio 2026: 16.3×

Target P/FCF Ratio 2025: 14.1×

Target P/FCF Ratio 2024: 17.6×

Target P/FCF Ratio 2022: 20.4×

Target P/FCF Ratio 2021: 11.5×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Target's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Target?

+Is Target's P/FCF ratio high or low?

+What is Target's historical P/FCF ratio range?

+What was Target's P/FCF ratio in 2026?

+Why does Target's P/FCF ratio change over time?

Target (TGT) Key Financials