Filing Flows › Target (TGT) › Q4 FY26
Target (TGT) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Mar 11, 2026
Target (TGT) reported revenue of $30.5B for the fourth quarter fiscal 2026 (Q4 FY26), -1% from a year earlier and +21% from the quarter before. Operating margin was 4.5%, net earnings $1.0B (3.4% of revenue).
Target, Q4 FY26: revenue $30.5B (-2% year over year), operating margin 4.5%, net earnings $1.0B, operating cash flow $3.1B. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $30.5B | +21% | -1% |
| Operating profit | $1.4B | +46% | -6% |
| Net earnings | $1.0B | +52% | -5% |
| Operating cash flow | $3.1B | +173% | -6% |
| Free cash flow | $2.2B | 15× | -7% |
What changed
Revenue was $30.5B in Q4 FY26, down 1% year over year and up 21% from the previous quarter. Food & beverage was the largest line at 22% of revenue.
Operating profit was $1.4B, a 4.5% margin (down 0.2 points year over year). Total costs fell 1% while revenue fell 1%. Net earnings were $1.0B, down 5% year over year. The effective tax rate was 20.1%.
Operating cash flow was $3.1B (down 6% year over year), 294% of net earnings. Non-cash charges added back $0.80B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items added $1.1B. Capital expenditures of $0.89B left free cash flow of $2.2B.
Questions
What was Target's revenue in the fourth quarter fiscal 2026?
Target (TGT) reported revenue of $30.5B for the fourth quarter fiscal 2026 (Q4 FY26), -1% from a year earlier and +21% from the quarter before.
Was Target profitable in the fourth quarter fiscal 2026?
Operating profit was $1.4B (4.5% of revenue) and net earnings $1.0B.
Source: Target 10-K on SEC EDGAR.