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TJX Companies

TJX NYSE Apparel Retail Financials FY2017–FY2026

TJX Companies' revenue rose 7.1% to $60.4 billion in fiscal 2026. Its net margin was 9.1%, up from 8.6% a year earlier. Free cash flow was $4.9 billion, up 17.1%. It paid out $4.4 billion in dividends and buybacks, 89% of free cash flow. The diluted share count fell 1.2%.

Last close · Oct 23, 2026

$145.06

1.6%
Value it Compare
Revenue Total sales reported in the income statement.
$60.4B
7.1% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$5.5B
13.0%
Free cash flow Cash from operations minus capital spending.
$4.9B
17.1%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
87.1%
6.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$162.0B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
26.9x
On $5.40 EPS (TTM)

What TJX Companies does

No business description yet.

Legal name
The TJX Companies, Inc.
Fiscal year ends
January 31, 2026
Latest annual report
—
Accession · CIK
0000109198-26-000008
0000109198

Revenue and margins

TJX Companies had $60.4B of revenue in fiscal 2026, up 7.1% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 12.2% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $4.9B in fiscal 2026, 8.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

TJX Companies returned $4.4B to shareholders in fiscal 2026, 89% of free cash flow. The diluted share count fell 1.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value TJX Companies yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $3.4B and divides by 1,128.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 26.9x · peers 21.2x · sector 17.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably TJX Companies can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $6.2B$5.5B$5.6B$5.3B$6.2B
Debt incl. finance leases $3.4B$3.4B$2.9B$2.9B$2.9B
Net debt / EBITDA −0.5x−0.4x−0.4x−0.3x−0.4x
Debt / equity 0.6x0.5x0.4x0.3x0.3x
Interest coverage 36.8x52.0x73.8x84.1x93.4x
Current ratio 1.3x1.2x1.2x1.2x1.1x
Quick ratio 0.7x0.6x0.6x0.6x0.6x
Total assets $28.5B$28.3B$29.7B$31.7B$35.8B
Total liabilities $22.5B$22.0B$22.4B$23.4B$25.6B
Shareholders' equity $6.0B$6.4B$7.3B$8.4B$10.2B
Net debt (− = net cash) −$2.9B−$2.1B−$2.7B−$2.5B−$3.4B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$40.8M

7 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jun 11, 2026 Jackwyn NemerovDirector Sold 957 $168.60 $0.2M Form 4
Jun 10, 2026 Peter BenjaminSevp, Group President Sold 10,926 $165.00 $1.8M Form 4
Jun 9, 2026 Carol MeyrowitzExecutive Chairman, Director Sold 55,624 $163.65 $9.1M Form 4
Jun 5, 2026 Ernie HerrmanCEO & President, Director Sold 10,002 $160.68 $1.6M Form 4
Jun 5, 2026 John KlingerSevp, CFO Sold 6,235 $160.77 $1.0M Form 4
Jun 4, 2026 Ernie HerrmanCEO & President, Director Sold 28,000 $158.33 $4.4M Form 4
Jun 3, 2026 Ernie HerrmanCEO & President, Director Sold 29,549 $157.46 $4.7M Form 4
Jun 3, 2026 Kenneth CanestrariSEVP - Group President Sold 31,447 $157.50 $5.0M Form 4
Mar 2, 2026 Ernie HerrmanCEO & President, Director Sold 30,000 $160.95 $4.8M Form 4
Nov 21, 2025 Amy B LaneDirector Sold 500 $151.40 $0.1M Form 4
Nov 21, 2025 Ernie HerrmanCEO & President, Director Sold 24,363 $151.31 $3.7M Form 4
Nov 20, 2025 Ernie HerrmanCEO & President, Director Sold 30,000 $148.81 $4.5M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✓ ✕ ✓
F-score 9 / 97 / 98 / 9
Accruals ratio −5.5%−4.1%−4.1%
Altman Z'' 2.932.993.00

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
TJX Companies TJX $162.0B 7.1% — 8.1% 87.1% 26.9x 8
Ross Stores ROST $73.2B 7.7% 11.9% 9.7% 67.0% 27.8x 6 Compare →
Gap GAP $8.1B 1.9% 7.3% 5.4% 36.1% 6.7x 6 Compare →
Burlington Stores BURL $15.8B 8.8% — 1.5% 28.1% 22.3x 7 Compare →
Victoria's Secret VSXY $7.6B 5.2% 4.1% 4.8% 17.7% 20.2x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $33.2B $35.9B $39.0B $41.7B $32.1B $48.6B $49.9B $54.2B $56.4B $60.4B
Gross profit $9.6B $10.4B $11.1B $11.9B $7.6B $13.8B $13.8B $16.3B $17.2B $18.7B
Operating income $4.3B $4.4B $4.8B — — — — — — —
Interest expense $69.2M $69.2M $69.1M $61.4M $199M $123M $91.0M $82.0M $78.0M $79.0M
Pretax income $3.7B $3.9B $4.2B $4.4B $89.0M $4.4B $4.6B $6.0B $6.5B $7.3B
Income tax $1.4B $1.2B $1.1B $1.1B −$1.0M $1.1B $1.1B $1.5B $1.6B $1.8B
Net income $2.3B $2.6B $3.1B $3.3B $90.0M $3.3B $3.5B $4.5B $4.9B $5.5B
Diluted EPS $1.73 $2.02 $2.43 $2.67 $0.07 $2.70 $2.97 $3.86 $4.26 $4.87
Diluted shares 1.33B 1.29B 1.26B 1.23B 1.22B 1.22B 1.18B 1.16B 1.14B 1.13B
Cash flow
Cash from operations $3.6B $3.0B $4.1B $4.1B $4.6B $3.1B $4.1B $6.1B $6.1B $6.9B
Capital expenditure $1.0B $1.1B $1.1B $1.2B $568M $1.0B $1.5B $1.7B $1.9B $2.0B
Free cash flow $2.6B $2.0B $3.0B $2.8B $4.0B $2.0B $2.6B $4.3B $4.2B $4.9B
Depreciation and amortization $659M $726M $820M $867M $871M $868M $887M $964M $1.1B $1.2B
Stock-based compensation $102M $101M $104M $125M $59.0M $189M $122M $160M $183M $214M
Acquisitions $2.3M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $1.7B $1.6B $2.4B $1.6B $202M $2.2B $2.3B $2.5B $2.5B $2.5B
Dividends paid $651M $764M $923M $1.1B $278M $1.3B $1.3B $1.5B $1.6B $1.8B
Dividends and buybacks $2.4B $2.4B $3.3B $2.6B $480M $3.4B $3.6B $4.0B $4.2B $4.4B
Balance sheet
Cash and short-term investments $3.5B $3.3B $3.0B $3.2B $10.5B $6.2B $5.5B $5.6B $5.3B $6.2B
Total debt $2.2B $2.2B $2.2B $2.2B $6.1B $3.4B $3.4B $2.9B $2.9B $2.9B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $7.8B $8.5B $8.5B $8.9B $15.7B $13.3B $12.5B $12.7B $13.0B $15.2B
Current liabilities $4.8B $5.1B $5.5B $7.2B $10.8B $10.5B $10.3B $10.5B $11.0B $13.4B
Inventory $3.6B $4.2B $4.6B $4.9B $4.3B $6.0B $5.8B $6.0B $6.4B $7.3B
Property and equipment, net $4.5B $5.0B $5.3B $5.3B $5.0B $5.3B $5.8B $6.6B $7.3B $8.2B
Total assets $12.9B $14.1B $14.3B $24.1B $30.8B $28.5B $28.3B $29.7B $31.7B $35.8B
Total liabilities $8.4B $8.9B $9.3B $18.2B $25.0B $22.5B $22.0B $22.4B $23.4B $25.6B
Shareholders' equity $4.5B $5.1B $5.0B $5.9B $5.8B $6.0B $6.4B $7.3B $8.4B $10.2B
Margins
Gross margin 29.0% 28.9% 28.6% 28.5% 23.7% 28.5% 27.6% 30.0% 30.6% 31.0%
Operating margin 12.8% 12.3% 12.2% — — — — — — —
EBITDA margin 14.8% 14.3% 14.3% 12.8% 3.6% 11.1% 11.2% 12.9% 13.6% 14.3%
Net margin 6.9% 7.3% 7.9% 7.8% 0.3% 6.8% 7.0% 8.3% 8.6% 9.1%
FCF margin 7.8% 5.5% 7.6% 6.8% 12.4% 4.1% 5.3% 8.0% 7.5% 8.1%
Returns
Return on capital 77.9% 80.7% 83.5% 72.0% 9.0% — 96.7% 103.0% 93.9% 87.1%
Return on capital employed 56.0% 51.6% 53.7% 34.7% 1.6% 23.8% 26.2% 32.4% 32.8% 34.2%
Return on equity 52.1% 54.0% 60.0% 59.5% 1.5% 55.5% 56.6% 65.5% 62.0% 59.1%
Return on assets 18.9% 19.4% 21.6% 17.0% 0.3% 11.1% 12.3% 15.4% 15.8% 16.3%
Growth
Revenue growth 7.2% 8.1% 8.7% 7.0% −23.0% 51.1% 2.9% 8.6% 4.0% 7.1%
Net income growth 0.9% 13.5% 17.3% 6.9% −97.3% 3,547.8% 6.6% 27.9% 8.7% 13.0%
EPS growth 3.9% 16.8% 20.3% 9.9% −97.4% 3,757.1% 10.0% 30.0% 10.4% 14.3%
FCF growth 25.9% −24.4% 50.6% −4.1% 40.5% −49.6% 30.6% 65.0% −3.2% 17.1%
Share count change −2.8% −2.8% −2.6% −2.6% −0.9% 0.1% −3.1% −1.6% −1.5% −1.2%
Financial health
Net debt / EBITDA −0.3x −0.2x −0.1x −0.2x −3.8x −0.5x −0.4x −0.4x −0.3x −0.4x
Debt / equity 0.5x 0.4x 0.4x 0.4x 1.0x 0.6x 0.5x 0.4x 0.3x 0.3x
Interest coverage 61.5x 63.6x 68.9x 72.8x 1.5x 36.8x 52.0x 73.8x 84.1x 93.4x
Current ratio 1.6x 1.7x 1.5x 1.2x 1.5x 1.3x 1.2x 1.2x 1.2x 1.1x
Quick ratio 0.9x 0.8x 0.7x 0.6x 1.1x 0.7x 0.6x 0.6x 0.6x 0.6x
Capital allocation
Capex / revenue 3.1% 3.0% 2.9% 2.9% 1.8% 2.2% 2.9% 3.2% 3.4% 3.2%
Stock comp / revenue 0.3% 0.3% 0.3% 0.3% 0.2% 0.4% 0.2% 0.3% 0.3% 0.4%
Payouts / FCF 90.4% 122.4% 112.4% 92.3% 12.0% 170.4% 136.8% 91.5% 99.1% 88.8%
Quality scores
Piotroski F-score 6.0 7.0 6.0 7.0 5.0 6.0 6.0 9.0 7.0 8.0
Altman Z'' 5.5 5.3 5.2 2.8 1.9 2.6 2.6 2.9 3.0 3.0
Accruals ratio −10.9% −3.1% −7.3% −4.1% −16.3% 0.8% −2.1% −5.5% −4.1% −4.1%

Source: SEC EDGAR XBRL filings (CIK 0000109198). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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