Key Financial Items

Cash
Receivables
Inventory
Total Current Assets
Total Assets
Total Current Liabilities
Total Liabilities
Total Stockholder Equity
Sales
Cost of Sales
EBIT
Pretax Income
Net Income (Loss)
Dividend Expense

2011

2012

2013

1648
6226
5838
14405
34995
9588
20790
14205
52620
34927
4296
3860
2408
334

813
6757
6254
14706
37349
11117
21716
15633
59490
39399
5041
4497
2787
396

784
5841
7903
16388
48163
14031
31605
16558
73301
50568
5740
5056
2999
400

2014

2015

670
5800
8278
11573
44553
12777
28322
16231
71279
50039
5170
4121
1971
450

2210
5800
6000
14087
41404
11736
27407
13997
72618
51278
4535
3653
-1636
450

Dollar Amounts

Cash
Receivables
Inventory
Other Current Assets
Total Current Assets
Net Fixed Assets
Total Assets
Total Current Liabilities
Total Long-Term Liabilities
Total Liabilities
Total Stockholder Equity
Sales
Cost of Sales
EBIT
Pretax Income
Net Income (Loss)
Dividend Expense
Dividend Payout Ratio
Percentage of Sales

Cash
Receivables
Inventory
Other Current Assets
Total Current Assets
Net Fixed Assets
Total Assets
Total Current Liabilities
Total Long-Term Liabilities
Total Liabilities
Total Stockholder Equity
Sales
Cost of Sales
EBIT
Pretax Income
Net Income (Loss)
Dividend Expense

2011

2012

1648.00
6226.00
5838.00
693.00
14405.00
20590.00
34995.00
9588.00
11202.00
20790.00
14205.00
52620.00
34927.00
4296.00
3860.00
2408.00
334.00
13.87%

813.00
6757.00
6254.00
882.00
14706.00
22643.00
37349.00
11117.00
10599.00
21716.00
15633.00
59490.00
39399.00
5041.00
4497.00
2787.00
396.00
14.21%

2011

2012

11.83%
11.09%
1.32%

11.36%
10.51%
1.48%

18.22%

18.69%

100.00%
66.38%
8.16%
7.34%
4.58%

100.00%
66.23%
8.47%
7.56%
4.68%

2013

2014

784.00
5841.00
7903.00
1860.00
16388.00
31775.00
48163.00
14031.00
17574.00
31605.00
16558.00
73301.00
50568.00
5740.00
5056.00
2999.00
400.00
13.34%

670.00
5800.00
8278.00
-3175.00
11573.00
32980.00
44553.00
12777.00
15545.00
28322.00
16231.00
71279.00
50039.00
5170.00
4121.00
1971.00
450.00
22.83%

2013

2015

2016

2210.00
5800.00
6000.00
77.00
14087.00
27317.00
41404.00
11736.00
15671.00
27407.00
13997.00
72618.00
51278.00
4535.00
3653.00
-1636.00
450.00 Average
-27.51%
16.06%
Additions to Retain Earnings
2014
2015 Average

7.97%
10.78%
2.54%

8.14%
11.61%
-4.45%

7.99%
8.26%
0.11%

9.46%
10.45%
0.20%

19.14%

17.93%

16.16%

18.03%

100.00%
68.99%
7.83%
6.90%
4.09%

100.00%
70.20%
7.25%
5.78%
2.77%

100.00%
70.61%
6.25%
5.03%
-2.25%

100.00%
68.48%
7.59%
6.52%
2.77%

4354.65
7073.17
6000.00
147.91
17575.74
27317.00
44892.74
13483.81
15671.00
29154.81
15737.92
74796.54
51221.50
5679.57
4877.39
2074.06
333.14
1,740.92

Growth rate in sales

3.00%

2017

2018

2019

2020

6335.68
7285.37
6000.00
152.35
19773.41
27317.00
47090.41
13888.33
15671.00
29559.33
17531.08
77040.44
52758.15
5849.96
5023.71
2136.28
343.13

8376.15
7503.93
6000.00
156.92
22037.00
27317.00
49354.00
14304.98
15671.00
29975.98
19378.02
79351.65
54340.89
6025.46
5174.42
2200.37
353.42

10477.83
7729.05
6000.00
161.63
24368.51
27317.00
51685.51
14734.13
15671.00
30405.13
21280.38
81732.20
55971.12
6206.22
5329.66
2266.38
364.03

12642.56
7960.92
6000.00
166.48
26769.96
27317.00
54086.96
15176.15
15671.00
30847.15
23239.80
84184.16
57650.25
6392.41
5489.55
2334.37
374.95

1,793.15

1,846.95

1,902.36

1,959.43

Now
Dividend Expense (in millions)
Dividend per Share

2016
333.14
0.50

0.47
PRICE
27.17
R
G
# of shares (in millions)

2017
343.13
0.51

0.46

6.00%
4.25%
669.3

2018
353.42
0.53

2019
364.03
0.54
P2019
32.01
0.44
25.80

2020
374.95
0.56

2021
0.58

2022
0.61

2023 etc
etc
0.63 etc

Financial Ratio Analysis

Current Ratio
Accounts Receivable Turnover
Average Collection Period
Inventory Turnover
Days to Sell Inventory
Net Profit Margin
Total Asset Turnover
Current Ratio
Accounts Receivable Turnover
Average Collection Period
Inventory Turnover
Days to Sell Inventory
Net Profit Margin
Total Asset Turnover

2011
1.5024
8.4517
43.1868
5.9827
61.0092
0.0458
1.5036

2012
1.3228
8.8042
41.4575
6.2998
57.9383
0.0468
1.5928

Looking at the steady Current Ratio across time

a strong balance sheet to aid them during a slo
Looking at Target's improving Accounts Receiva
accounts receivables is efficient, and that the c
Target's Average Collection Period is improving
allows Target to purchase new inventory faster.
Target's Inventory Turnover is improving over ti
Target's Days to Sell Inventory ratio is improvin
selling faster which allows them to be more effi
Target's Net Profit Margin is getting worse over
cut costs, or increase prices.
Looking at the Total Asset Turnover ratio across
increasing both Revenue and Total Assets.

2013
1.1680
12.5494
29.0851
6.3986
57.0439
0.0409
1.5219

2014
0.9058
12.2895
29.7002
6.0448
60.3823
0.0277
1.5999

2015
1.2003
12.5203
29.1526
8.5463
42.7084
-0.0225
1.7539

2016
1.3035
10.5747
34.5164
8.5369
42.7555
0.0277
1.6661

2017
1.4237
10.5747
34.5164
8.7930
41.5102
0.0277
1.6360

2018
1.5405
10.5747
34.5164
9.0568
40.3011
0.0277
1.6078

dy Current Ratio across time, Target needs to increase their current assets over time to provide
heet to aid them during a slow retail season.
improving Accounts Receivable Turnover ratio across time indicates the company's collection of
es is efficient, and that the company has most of their customers paying off debts quickly.
ollection Period is improving over time which means customer's are paying debts faster and
rchase new inventory faster.
Turnover is improving over time and indicates strong sales.
ll Inventory ratio is improving across time which indicates their quality products are
h allows them to be more efficient by not carrying the same product for such a long time.
Margin is getting worse over time. In order to increase their profit margin they must increase sales,
se prices.
l Asset Turnover ratio across time, it seems steady and indicates that Target is equally
venue and Total Assets.

2019
1.6539
10.5747
34.5164
9.3285
39.1273
0.0277
1.5813

time to provide

y's collection of
ts quickly.
s faster and

ust increase sales,

2020
1.7639
10.5747
34.5164
9.6084
37.9877
0.0277
1.5565