Target annual operating expenses
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Target Operating Expenses Growth & History (TGT)
Target's operating expenses was $24.15B for fiscal 2025.
View full Target company overviewTarget annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2026-01-31 | $24.15B | −$346.0M | −1.41% |
| 2024 | 2025-02-01 | $24.50B | $621.0M | +2.60% |
| 2023 | 2024-02-03 | $23.88B | $911.0M | +3.97% |
| 2022 | 2023-01-28 | $22.97B | $870.0M | +3.94% |
| 2021 | 2022-01-29 | $22.10B | $1.25B | +6.00% |
| 2020 | 2021-01-30 | $20.84B | $2.25B | +12.13% |
| 2019 | 2020-02-01 | $18.59B | $643.0M | +3.58% |
| 2018 | 2019-02-02 | $17.95B | $1.42B | +8.57% |
| 2017 | 2018-02-03 | $16.53B | $1.04B | +6.74% |
| 2016 | 2017-01-28 | $15.49B | — | — |
| 2012 | 2013-02-02 | $17.53B | $772.0M | +4.61% |
| 2011 | 2012-01-28 | $16.75B | $259.0M | +1.57% |
| 2010 | 2011-01-29 | $16.50B | −$223.0M | −1.33% |
| 2009 | 2010-01-30 | $16.72B | — | — |
Target quarterly operating expenses
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Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-08-01 | $6.38B | $385.0M | +6.43% |
| Q1 2026 | 2026-05-02 | $6.25B | $1.00B | +19.08% |
| Q4 2025 | 2026-01-31 | $6.73B | $85.0M | +1.28% |
| Q3 2025 | 2025-11-01 | $6.18B | $87.0M | +1.43% |
| Q2 2025 | 2025-08-02 | $5.99B | $0 | 0.00% |
| Q1 2025 | 2025-05-03 | $5.25B | −$518.0M | −8.99% |
| Q4 2024 | 2025-02-01 | $6.64B | $86.0M | +1.31% |
| Q3 2024 | 2024-11-02 | $6.10B | $166.0M | +2.80% |
| Q2 2024 | 2024-08-03 | $5.99B | $213.0M | +3.69% |
| Q1 2024 | 2024-05-04 | $5.76B | $156.0M | +2.78% |
| Q4 2023 | 2024-02-03 | $6.56B | $346.0M | +5.57% |
| Q3 2023 | 2023-10-28 | $5.93B | $116.0M | +1.99% |
| Q2 2023 | 2023-07-29 | $5.78B | $204.0M | +3.66% |
| Q1 2023 | 2023-04-29 | $5.61B | $245.0M | +4.57% |
| Q4 2022 | 2023-01-28 | $6.21B | — | — |
| Q3 2022 | 2022-10-29 | $5.82B | $380.0M | +6.99% |
| Q2 2022 | 2022-07-30 | $5.57B | — | — |
| Q1 2022 | 2022-04-30 | $5.36B | — | — |
| Q3 2021 | 2021-10-30 | $5.44B | — | — |
| Q4 2019 | 2020-02-01 | $5.14B | $184.0M | +3.71% |
| Q3 2019 | 2019-11-02 | $4.73B | $261.0M | +5.84% |
| Q2 2019 | 2019-08-03 | $4.47B | $69.0M | +1.57% |
| Q1 2019 | 2019-05-04 | $4.24B | $129.0M | +3.13% |
| Q4 2018 | 2019-02-02 | $4.96B | $118.0M | +2.44% |
| Q3 2018 | 2018-11-03 | $4.47B | $359.0M | +8.74% |
| Q2 2018 | 2018-08-04 | $4.40B | $487.0M | +12.43% |
| Q1 2018 | 2018-05-05 | $4.12B | $452.0M | +12.34% |
| Q4 2017 | 2018-02-03 | $4.84B | $583.0M | +13.69% |
| Q3 2017 | 2017-10-28 | $4.11B | $260.0M | +6.76% |
| Q2 2017 | 2017-07-29 | $3.92B | $161.0M | +4.29% |
| Q1 2017 | 2017-04-29 | $3.66B | $40.0M | +1.10% |
| Q4 2016 | 2017-01-28 | $4.26B | — | — |
| Q3 2016 | 2016-10-29 | $3.85B | −$363.0M | −8.62% |
| Q2 2016 | 2016-07-30 | $3.76B | −$270.0M | −6.71% |
| Q1 2016 | 2016-04-30 | $3.62B | −$324.0M | −8.21% |
| Q3 2015 | 2015-10-31 | $4.21B | $44.0M | +1.06% |
| Q2 2015 | 2015-08-01 | $4.03B | $16.0M | +0.40% |
| Q1 2015 | 2015-05-02 | $3.95B | $91.0M | +2.36% |
| Q3 2014 | 2014-11-01 | $4.17B | −$219.0M | −4.99% |
| Q2 2014 | 2014-08-02 | $4.01B | −$201.0M | −4.77% |
| Q1 2014 | 2014-05-03 | $3.86B | −$253.0M | −6.16% |
| Q3 2013 | 2013-11-02 | $4.39B | $34.0M | +0.78% |
| Q2 2013 | 2013-08-03 | $4.21B | −$16.0M | −0.38% |
| Q1 2013 | 2013-05-04 | $4.11B | $68.0M | +1.68% |
| Q4 2012 | 2013-02-02 | $4.91B | $288.0M | +6.24% |
| Q3 2012 | 2012-10-27 | $4.35B | $154.0M | +3.67% |
| Q2 2012 | 2012-07-28 | $4.23B | $141.0M | +3.45% |
| Q1 2012 | 2012-04-28 | $4.04B | $189.0M | +4.91% |
| Q4 2011 | 2012-01-28 | $4.62B | — | — |
| Q3 2011 | 2011-10-29 | $4.20B | $102.0M | +2.49% |
| Q2 2011 | 2011-07-30 | $4.09B | $92.0M | +2.30% |
| Q1 2011 | 2011-04-30 | $3.85B | — | — |
| Q3 2010 | 2010-10-30 | $4.10B | — | — |
| Q2 2010 | 2010-07-31 | $3.99B | — | — |
Target operating expenses trends
Over the last five fiscal years, Target's operating expenses increased from $20.84B to $24.15B, a change of $3.31B. The latest reported quarter, Q2 2026, shows $6.38B.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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