BJ's Wholesale Club vs Target
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The short version
- Target is the larger business, with $104.8B of revenue in fiscal 2025 against $21.5B for BJ's Wholesale Club, about 4.9 times as much.
- BJ's Wholesale Club grew revenue faster (4.7%, against −1.7%).
- Target kept more of each dollar of sales as operating profit (4.9% operating margin, against 3.8%).
- Target turned more of its sales into free cash flow (2.7% FCF margin, against 1.5%).
- BJ's Wholesale Club earned a higher return on the capital invested in it (23.7%, against 15.0%).
- Investors pay more for each dollar of BJ's Wholesale Club’s earnings: a P/E of 23.2x against 15.9x for Target.
| Latest fiscal year | BJ · FY25 | TGT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.5B | $69.8B |
| Revenue | $21.5B | $104.8B |
| Free cash flow | $328M | $2.8B |
| Net income | $578M | $3.7B |
| Growth | ||
| Revenue growth | 4.7% | −1.7% |
| 5-year growth | 6.8% | 2.3% |
| Share count change | −1.2% | −1.3% |
| Profitability | ||
| Gross margin | 18.6% | 27.9% |
| Operating margin | 3.8% | 4.9% |
| Net margin | 2.7% | 3.5% |
| FCF margin | 1.5% | 2.7% |
| Return on capital | 23.7% | 15.0% |
| Return on equity | 28.6% | 24.0% |
| Balance sheet | ||
| Net debt | $523M | $11.0B |
| Net debt / EBITDA | 0.5x | 1.3x |
| Dividends and buybacks | $287M | $2.5B |
| Valuation & quality | ||
| P/E | 23.2x | 15.9x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
BJ $12.4B
TGT $70.3B
FY17
BJ $12.8B
TGT $72.7B
FY18
BJ $13.0B
TGT $75.4B
FY19
BJ $13.2B
TGT $78.1B
FY20
BJ $15.4B
TGT $93.6B
FY21
BJ $16.7B
TGT $106.0B
FY22
BJ $19.3B
TGT $109.1B
FY23
BJ $20.0B
TGT $107.4B
FY24
BJ $20.5B
TGT $106.6B
FY25
BJ $21.5B
TGT $104.8B
BJ
TGT
Operating margin
FY16
BJ 1.8%
TGT 6.9%
FY17
BJ 1.7%
TGT 5.8%
FY18
BJ 2.3%
TGT 5.5%
FY19
BJ 2.7%
TGT 6.0%
FY20
BJ 4.2%
TGT 7.0%
FY21
BJ 3.7%
TGT 8.4%
FY22
BJ 3.8%
TGT 3.5%
FY23
BJ 4.0%
TGT 5.3%
FY24
BJ 3.8%
TGT 5.2%
FY25
BJ 3.8%
TGT 4.9%
BJ
TGT
Free cash flow
FY16
BJ $183M
TGT $3.9B
FY17
BJ $72.6M
TGT $4.4B
FY18
BJ $281M
TGT $2.5B
FY19
BJ $158M
TGT $4.1B
FY20
BJ $650M
TGT $7.9B
FY21
BJ $508M
TGT $5.1B
FY22
BJ $390M
TGT −$1.5B
FY23
BJ $252M
TGT $3.8B
FY24
BJ $313M
TGT $4.5B
FY25
BJ $328M
TGT $2.8B
BJ
TGT
Return on capital
FY16
BJ —
TGT 15.3%
FY17
BJ —
TGT 16.3%
FY18
BJ 17.3%
TGT 15.8%
FY19
BJ 17.0%
TGT 17.4%
FY20
BJ 32.2%
TGT 26.2%
FY21
BJ 34.2%
TGT 35.6%
FY22
BJ 33.8%
TGT 13.7%
FY23
BJ 28.1%
TGT 17.6%
FY24
BJ 24.9%
TGT 16.8%
FY25
BJ 23.7%
TGT 15.0%
BJ
TGT
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.