Stocks TJX Financial statements
Financial statementsTJX COMPANIES INC /DE/ financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TJX COMPANIES INC /DE/ files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 33,184 | 35,865 | 38,973 | 41,717 | 32,137 | 48,550 | 49,936 | 54,217 | 56,360 | 60,372 |
| Cost of revenue | 23,566 | 25,502 | 27,831 | 29,846 | 24,534 | 34,714 | 36,149 | 37,951 | 39,112 | 41,679 |
| Gross profit | 9,618 | 10,362 | 11,142 | 11,871 | 7,603 | 13,836 | 13,787 | 16,266 | 17,248 | 18,693 |
| Selling, general and administrative | 5,768 | 6,375 | 6,924 | 7,455 | 7,021 | 9,081 | 8,927 | 10,469 | 10,946 | 11,515 |
| Operating income | 4,258 | 4,403 | 4,763 | |||||||
| Interest expense | 69.2 | 69.2 | 69.1 | 61.4 | 199 | 123 | 91 | 82 | 78 | 79 |
| Interest income | 18.1 | 32.7 | 56 | 49.1 | 13 | 4 | 78 | 249 | 257 | 195 |
| Pre-tax income | 3,723 | 3,857 | 4,173 | 4,406 | 89 | 4,398 | 4,636 | 5,967 | 6,483 | 7,299 |
| Income tax | 1,425 | 1,249 | 1,113 | 1,134 | -1 | 1,115 | 1,138 | 1,493 | 1,619 | 1,805 |
| Net income | 2,298 | 2,608 | 3,060 | 3,272 | 90 | 3,283 | 3,498 | 4,474 | 4,864 | 5,494 |
| EBITDA | 4,917 | 5,129 | 5,583 | |||||||
| EPS, basic | 1.75 | 2.05 | 2.47 | 2.71 | 0.08 | 2.74 | 3.00 | 3.90 | 4.31 | 4.93 |
| EPS, diluted | 1.73 | 2.02 | 2.43 | 2.67 | 0.07 | 2.70 | 2.97 | 3.86 | 4.26 | 4.87 |
| Shares, basic (weighted) | 1,311 | 1,274 | 1,241 | 1,208 | 1,200 | 1,200 | 1,166 | 1,146 | 1,128 | 1,114 |
| Shares, diluted (weighted) | 1,329 | 1,292 | 1,259 | 1,227 | 1,215 | 1,216 | 1,178 | 1,159 | 1,142 | 1,128 |
| Dividend per share | 0.52 | 0.63 | 0.78 | 0.92 | 0.26 | 1.04 | 1.18 | 1.33 | 1.50 | 1.70 |
Balance sheet
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 2,930 | 2,758 | 3,030 | 3,217 | 10,470 | 6,227 | 5,477 | 5,600 | 5,335 | 6,230 |
| Short-term investments | 543 | 506 | 0 | |||||||
| Receivables | 259 | 327 | 346 | 386 | 461 | 518 | 563 | 529 | 549 | 602 |
| Inventory | 3,645 | 4,187 | 4,579 | 4,873 | 4,337 | 5,962 | 5,819 | 5,965 | 6,421 | 7,297 |
| Other current assets | 374 | 707 | 514 | 368 | 435 | 437 | 478 | 511 | 617 | 1,065 |
| Total current assets | 7,751 | 8,486 | 8,469 | 8,891 | 15,739 | 13,259 | 12,456 | 12,664 | 12,991 | 15,202 |
| Property, plant and equipment | 4,533 | 5,006 | 5,255 | 5,325 | 5,036 | 5,271 | 5,783 | 6,571 | 7,346 | 8,220 |
| Lease right-of-use assets | 9,060 | 8,990 | 8,854 | 9,086 | 9,396 | 9,641 | 10,330 | |||
| Goodwill | 196 | 100 | 97.6 | 95.5 | 99 | 97 | 97 | 95 | 94 | 96 |
| Other non-current assets | 398 | 460 | 498 | 761 | 822 | 795 | 769 | 849 | 1,529 | 1,772 |
| Total assets | 12,884 | 14,058 | 14,326 | 24,145 | 30,814 | 28,461 | 28,349 | 29,747 | 31,749 | 35,767 |
| Accounts payable | 2,231 | 2,488 | 2,644 | 2,673 | 4,823 | 4,465 | 3,794 | 3,862 | 4,257 | 4,575 |
| Accrued liabilities | 630 | 686 | 738 | 819 | 946 | 1,117 | 968 | 1,399 | 1,370 | 1,727 |
| Short-term debt | 0 | 750 | 0 | 500 | 0 | 0 | 999 | |||
| Total current liabilities | 4,758 | 5,126 | 5,531 | 7,150 | 10,804 | 10,468 | 10,305 | 10,451 | 11,008 | 13,361 |
| Long-term debt | 2,228 | 2,231 | 2,234 | 2,237 | 5,333 | 3,355 | 2,859 | 2,862 | 2,866 | 1,870 |
| Lease liabilities | 7,817 | 7,743 | 7,576 | 7,775 | 8,060 | 8,276 | 8,894 | |||
| Other non-current liabilities | 1,074 | 1,321 | 1,354 | 851 | 1,064 | 1,015 | 919 | 924 | 1,050 | 1,184 |
| Total liabilities | 8,373 | 8,910 | 9,277 | 18,197 | 24,981 | 22,458 | 21,985 | 22,445 | 23,356 | 25,577 |
| Total debt | 2,228 | 2,231 | 2,234 | 2,237 | 6,083 | 3,355 | 3,359 | 2,862 | 2,866 | 2,869 |
| Paid-in capital | 0 | 0 | 0 | 0 | 261 | 0 | 0 | 0 | 0 | 0 |
| Retained earnings | 4,559 | 4,334 | 4,462 | 5,422 | 4,974 | 5,509 | 5,815 | 6,700 | 7,883 | 9,434 |
| Other comprehensive income | -694 | -442 | -630 | -673 | -606 | -687 | -606 | -532 | -609 | -351 |
| Shareholders' equity | 4,511 | 5,148 | 5,049 | 5,948 | 5,833 | 6,003 | 6,364 | 7,302 | 8,393 | 10,190 |
| Total equity | 4,511 | 5,148 | 5,049 | 5,948 | 5,833 | 6,003 | 6,364 | 7,302 | 8,393 | 10,190 |
| Total liabilities and equity | 12,884 | 14,058 | 14,326 | 24,145 | 30,814 | 28,461 | 28,349 | 29,747 | 31,749 | 35,767 |
| Shares outstanding | 646 | 1,256 | 1,217 | 1,199 | 1,205 | 1,181 | 1,155 | 1,134 | 1,119 | 1,107 |
Cash flow statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 2,298 | 2,608 | 3,060 | 3,272 | 90 | 3,283 | 3,498 | 4,474 | 4,864 | 5,494 |
| Depreciation and amortization | 659 | 726 | 820 | 867 | 871 | 868 | 887 | 964 | 1,104 | 1,247 |
| Stock-based compensation | 102 | 101 | 104 | 125 | 59 | 189 | 122 | 160 | 183 | 214 |
| Deferred income tax | -5.5 | -137 | -88.6 | -6.23 | -231 | -44 | 64 | -7 | 28 | 112 |
| Change in receivables | -23.2 | -62.4 | -23.5 | -43 | -71 | -61 | -51 | 37 | -26 | -41 |
| Change in inventory | 11.9 | -450 | -465 | -297 | 589 | -1,658 | 58 | -145 | -539 | -724 |
| Change in payables | 48.3 | 205 | 198 | 29.3 | 2,111 | -338 | -600 | 64 | 448 | 239 |
| Cash from operations | 3,627 | 3,026 | 4,088 | 4,067 | 4,562 | 3,057 | 4,084 | 6,057 | 6,116 | 6,874 |
| Capital expenditures | -1,025 | -1,058 | -1,125 | -1,223 | -568 | -1,045 | -1,457 | -1,722 | -1,918 | -1,957 |
| Acquisitions | -2.32 | |||||||||
| Purchases of investments | -717 | -861 | -162 | -28.8 | -29 | -22 | -31 | -28 | -35 | -38 |
| Cash from investing | -1,215 | -1,013 | -624 | -1,462 | -579 | -1,046 | -1,470 | -1,717 | -2,477 | -1,981 |
| Debt issued | 993 | 0 | 0 | 0 | 5,987 | 0 | 0 | |||
| Debt repaid | -2,976 | 0 | -500 | 0 | 0 | |||||
| Stock issued | 164 | 134 | 255 | 232 | 211 | 229 | 321 | 285 | 366 | 311 |
| Share buybacks | -1,700 | -1,645 | -2,407 | -1,552 | -202 | -2,176 | -2,255 | -2,484 | -2,513 | -2,522 |
| Dividends paid | -651 | -764 | -923 | -1,072 | -278 | -1,252 | -1,339 | -1,484 | -1,648 | -1,842 |
| Cash from financing | -1,587 | -2,297 | -3,097 | -2,415 | 3,228 | -6,200 | -3,306 | -4,215 | -3,838 | -4,118 |
| Exchange rate effect | 9.27 | 113 | -95.7 | -3.18 | 42 | -54 | -58 | -2 | -66 | 120 |
| Net change in cash | 834 | -171 | 272 | 187 | 7,253 | -4,243 | -750 | 123 | -265 | 895 |
| Free cash flow | 2,602 | 1,968 | 2,963 | 2,843 | 3,994 | 2,012 | 2,627 | 4,335 | 4,198 | 4,917 |
| Interest paid | 72.6 | 64.3 | 64 | 56.3 | 153 | 139 | 86 | 80 | 74 | 74 |
| Income taxes paid | 1,282 | 1,290 | 1,148 | 1,281 | 146 | 1,119 | 1,225 | 1,432 | 1,632 | 1,471 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 32.0% | Gross profit / revenue. |
| Pre-tax margin | 12.9% | Pre-tax income / revenue. |
| Net margin | 9.7% | Net income / revenue. |
| FCF margin | 9.4% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 12.9% | Cash from operations / revenue. |
| Effective tax rate | 24.6% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 57.0% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 16.3% | Net income / average total assets. |
| SG&A / revenue | 19.3% | Selling, general and administrative expense / revenue. |
| Stock-based pay / revenue | 0.4% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 3.5% | Capital expenditures / revenue. |
| D&A / revenue | 2.1% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 7.1% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 6.5% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 13.4% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | 8.4% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | 10.7% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | 19.7% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | 13.0% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | 16.2% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | 127.6% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | 14.3% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | 17.9% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 133.6% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | 12.4% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | 19.0% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 8.5% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | 17.1% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | 23.2% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 4.2% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Dividend per share growth, 1y | 13.3% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | 12.9% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share CAGR, 5y | 45.6% | Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | 21.4% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 17.0% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 11.8% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 12.7% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 8.1% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 3.0% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | -1.2% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | -1.4% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | -1.5% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 1.15x | Current assets / current liabilities. |
| Quick ratio | 0.50x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 0.45x | (Cash + short-term investments) / current liabilities. |
| Debt / equity | 0.27x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 7.7% | Total debt / total assets. |
| Liabilities / assets | 71.3% | Total liabilities / total assets. |
| Net debt | -$3.13B | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Working capital | $1.97B | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 0.3% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $10.55B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 1.68x | Revenue / average total assets. |
| Fixed asset turnover | 7.28x | Revenue / average property, plant and equipment. |
| Inventory turnover | 5.39x | Cost of revenue / average inventory. |
| Days inventory | 68 days | 365 x average inventory / cost of revenue. |
| Receivables turnover | 93.8x | Revenue / average receivables. |
| Days sales outstanding | 4 days | 365 x average receivables / revenue. |
| Days payables | 43 days | 365 x average accounts payable / cost of revenue. |
| Cash conversion cycle | 28 days | Days inventory + days sales outstanding - days payables. |
| FCF conversion | 96.9% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 26.9% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $5.43 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $55.83 | Revenue / diluted weighted shares. |
| FCF per share | $5.26 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $7.19 | Cash from operations / diluted weighted shares. |
| Book value per share | $9.67 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $9.58 | Tangible book value / shares outstanding. |
| Cash per share | $5.45 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 32.1% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 33.2% | Dividends paid / free cash flow, when free cash flow is positive. |
| Buybacks / FCF | 47.6% | Share buybacks / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $143.68B | Share price x shares outstanding. |
| Enterprise value | $140.54B | Market cap + total debt - cash - short-term investments. |
| P/E | 23.7x | Market cap / net income. Only when net income is positive. |
| P/S | 2.30x | Market cap / revenue. |
| P/B | 13.5x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 13.6x | Market cap / tangible book value, when positive. |
| P/FCF | 24.5x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 17.9x | Market cap / cash from operations, when positive. |
| EV/Sales | 2.25x | Enterprise value / revenue. |
| EV/FCF | 23.9x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 4.1% | Free cash flow / market cap. |
| Earnings yield | 4.2% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 1.4% | Dividends paid over the period / market cap. |
| Shareholder yield | 3.3% | (Dividends paid + share buybacks) / market cap. |
| PEG | 1.32x | P/E / EPS growth per year over 3 years (in percent). Only when both are positive. |
What was TJX COMPANIES INC /DE/'s revenue in fiscal 2026?
TJX COMPANIES INC /DE/ reported revenue of $60.37B for fiscal 2026, 7.1% higher than the year before.
Was TJX COMPANIES INC /DE/ profitable in fiscal 2026?
Yes. Net income was $5.49B, a net margin of 9.1%.
How much free cash flow did TJX COMPANIES INC /DE/ generate in fiscal 2026?
Cash from operations of $6.87B minus capital expenditures of $1.96B left free cash flow of $4.92B.