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Target vs Walmart: revenue, profit, margins and growth compared

Target brought in $104.8B of revenue in fiscal 2025, Walmart $713.2B in fiscal 2026. Revenue changed by -1.7% at Target and +4.7% at Walmart on the year before, so Walmart grew faster. Target kept 3.5% of its revenue as net profit, Walmart 3.1%. Free cash flow was $2.8B at Target and $14.9B at Walmart.

Side by side, latest fiscal year

TGTWMT
Fiscal year endedFY2025 (January 31, 2026)FY2026 (January 31, 2026)
Revenue$104.8B$713.2B
Revenue growth-1.7%+4.7%
Net income$3.7B$21.9B
Net margin3.5%3.1%
Free cash flow$2.8B$14.9B
Free cash flow margin2.7%2.1%
Earnings per share (diluted)$8.13$2.73
Cash$5.5B$10.7B
Debt$14.4B$38.2B
Price to earnings19.439.5
Market value$71.5B$859.3B
Dividend yield2.88%0.87%
Rank by revenue in sector#5 of 778 · Consumer discretionary#2 of 778 · Consumer discretionary

Over the years

Revenue
TGT FY2018: $75.4BTGT FY2019: $78.1BTGT FY2020: $93.6BTGT FY2021: $106BTGT FY2022: $109.1BTGT FY2023: $107.4BTGT FY2024: $106.6BTGT FY2025: $104.8BWMT FY2019: $514.4BWMT FY2020: $524BWMT FY2021: $559.2BWMT FY2022: $572.8BWMT FY2023: $611.3BWMT FY2024: $648.1BWMT FY2025: $681BWMT FY2026: $713.2BFY18FY19FY20FY21FY22FY23FY24FY25FY26
TGT $104.8BWMT $713.2B
Net income
TGT FY2018: $2.9BTGT FY2019: $3.3BTGT FY2020: $4.4BTGT FY2021: $6.9BTGT FY2022: $2.8BTGT FY2023: $4.1BTGT FY2024: $4.1BTGT FY2025: $3.7BWMT FY2019: $6.7BWMT FY2020: $14.9BWMT FY2021: $13.5BWMT FY2022: $13.7BWMT FY2023: $11.7BWMT FY2024: $15.5BWMT FY2025: $19.4BWMT FY2026: $21.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
TGT $3.7BWMT $21.9B
Net margin
TGT FY2018: 3.9%TGT FY2019: 4.2%TGT FY2020: 4.7%TGT FY2021: 6.6%TGT FY2022: 2.5%TGT FY2023: 3.9%TGT FY2024: 3.8%TGT FY2025: 3.5%WMT FY2019: 1.3%WMT FY2020: 2.8%WMT FY2021: 2.4%WMT FY2022: 2.4%WMT FY2023: 1.9%WMT FY2024: 2.4%WMT FY2025: 2.9%WMT FY2026: 3.1%FY18FY19FY20FY21FY22FY23FY24FY25FY26
TGT 3.5%WMT 3.1%
Revenue growth
TGT FY2019: +3.7%TGT FY2020: +19.8%TGT FY2021: +13.3%TGT FY2022: +2.9%TGT FY2023: -1.6%TGT FY2024: -0.8%TGT FY2025: -1.7%WMT FY2020: +1.9%WMT FY2021: +6.7%WMT FY2022: +2.4%WMT FY2023: +6.7%WMT FY2024: +6.0%WMT FY2025: +5.1%WMT FY2026: +4.7%FY19FY20FY21FY22FY23FY24FY25FY26
TGT -1.7%WMT +4.7%
Free cash flow
TGT FY2018: $2.5BTGT FY2019: $4.1BTGT FY2020: $7.9BTGT FY2021: $5.1BTGT FY2022: -$1.5BTGT FY2023: $3.8BTGT FY2024: $4.5BTGT FY2025: $2.8BWMT FY2019: $17.4BWMT FY2020: $14.6BWMT FY2021: $25.8BWMT FY2022: $11.1BWMT FY2023: $12BWMT FY2024: $15.1BWMT FY2025: $12.7BWMT FY2026: $14.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
TGT $2.8BWMT $14.9B

Fiscal years as each company reports them; the two may end in different months.

Questions about Target and Walmart

Which is bigger by revenue, Target or Walmart?

Walmart is bigger by revenue: $713.2B in fiscal 2026, against $104.8B for Target in fiscal 2025.

Which keeps more of its revenue as profit, Target or Walmart?

Target had a net margin of 3.5% in fiscal 2025; Walmart had 3.1% in fiscal 2026.

Which grew revenue faster, Target or Walmart?

In their latest fiscal years revenue changed by -1.7% at Target and +4.7% at Walmart.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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