Question 1

What is Target's P/B ratio?

Accepted Answer

Target (TGT) P/B ratio is 3.4× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Target?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Target specifically, the relevant sector benchmark is the current sector median of 3.4×.

Question 5

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

Accepted Answer

Target's P/B ratio of 3.4× is below its own 5-year average of 5.6× and above the sector median of 3.4×. That places the current reading at the 21th 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/B ratio range?

Accepted Answer

In the available daily series, Target (TGT) P/B ratio has ranged from a low of 1.7× in 2009 to a high of 9.8× in 2022. The 5-year average is 5.6× and the 5-year median is 5.1×.

Question 7

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

Accepted Answer

Target (TGT) P/B ratio at the end of 2026 was 3.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	$16.16B	3.0×	-1.3×	Jan 31, 2026
2025	$63.00B	$14.67B	4.3×	-0.7×	Feb 1, 2025
2024	$67.17B	$13.43B	5.0×	-1.9×	Feb 3, 2024
2023	$77.57B	$11.23B	6.9×	-1.2×	Jan 28, 2023
2022	$103.63B	$12.83B	8.1×	+1.8×	Jan 29, 2022
2021	$90.73B	$14.44B	6.3×	+1.5×	Jan 30, 2021
2020	$56.06B	$11.83B	4.7×	+1.5×	Feb 1, 2020
2019	$37.00B	$11.30B	3.3×	-0.2×	Feb 2, 2019
2018	$39.96B	$11.65B	3.4×	+0.2×	Feb 3, 2018
2017	$35.65B	$10.95B	3.3×	-0.2×	Jan 28, 2017
2016	$44.21B	$12.96B	3.4×	+0.1×	Jan 30, 2016
2015	$46.96B	$14.00B	3.4×	+1.1×	Jan 31, 2015
2014	$35.81B	$16.23B	2.2×	-0.2×	Feb 1, 2014
2013	$39.67B	$16.56B	2.4×	+0.3×	Feb 2, 2013
2012	$33.35B	$15.82B	2.1×	-0.3×	Jan 28, 2012
2011	$37.64B	$15.49B	2.4×	-0.0×	Jan 29, 2011
2010	$37.93B	$15.35B	2.5×	+0.8×	Jan 30, 2010
2009	$23.47B	$13.71B	1.7×	-1.3×	Jan 31, 2009
2008	$45.95B	$15.31B	3.0×	-0.4×	Feb 2, 2008
2007	$53.09B	$15.63B	3.4×	+0.1×	Feb 3, 2007
2006	$47.17B	$14.21B	3.3×	-0.0×	Jan 28, 2006
2005	$43.90B	$13.03B	3.4×	+0.2×	Jan 29, 2005
2004	$34.64B	$11.06B	3.1×	+0.4×	Jan 31, 2004
2003	$25.68B	$9.44B	2.7×	-2.3×	Feb 1, 2003
2002	$39.29B	$7.86B	5.0×	—	Feb 2, 2002


Albertsons Companies (ACI)	5.0×
Coca-Cola Europacific Partners (CCEP)	4.4×
Marzetti (MZTI)	3.6×
Lamb Weston (LW)	3.6×
Constellation Brands (STZ)	3.4×
Tootsie Roll Industries (TR)	3.4×
Kenvue (KVUE)	3.1×
Brown-Forman (BF-B)	2.9×
Mondelez International (MDLZ)	2.9×
Dollar General (DG)	2.9×
Performance Food Group (PFGC)	2.7×
McCormick & Company (MKC)	2.7×
General Mills (GIS)	2.6×
J. M. Smucker (SJM)	2.1×
Campbell Soup (CPB)	2.0×
Andersons (ANDE)	1.9×
Archer-Daniels-Midland (ADM)	1.5×
Bunge Global S.A. (BG)	1.5×
Hormel Foods (HRL)	1.5×
Keurig Dr Pepper (KDP)	1.4×
Tyson Foods (TSN)	1.2×
Conagra Brands (CAG)	1.1×
Universal Corporation (UVV)	0.9×
Molson Coors Beverage (TAP)	0.8×
Kraft Heinz (KHC)	0.6×

P/B Ratio for Target (TGT)

P/B Ratio daily chart for Target (TGT)

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

About P/B Ratio at Target (TGT)

Target P/B Ratio by Year

Target P/B Ratio 2026: 3.0×

Target P/B Ratio 2025: 4.3×

Target P/B Ratio 2024: 5.0×

Target P/B Ratio 2023: 6.9×

Target P/B Ratio 2022: 8.1×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Target (TGT) Key Financials

P/B Ratio daily chart for Target (TGT)

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

About P/B Ratio at Target (TGT)

Target P/B Ratio by Year

Target P/B Ratio 2026: 3.0×

Target P/B Ratio 2025: 4.3×

Target P/B Ratio 2024: 5.0×

Target P/B Ratio 2023: 6.9×

Target P/B Ratio 2022: 8.1×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Target's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

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

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

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

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

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

Target (TGT) Key Financials