Direct Answer
Target Corporation reports a single business segment in its fiscal 2026 Form 10-K, so the whole company is managed and measured as one business. That segment's revenue was $105 billion (down 1.7% from the prior year), and its largest cost line was cost of goods and services sold at 72% of revenue, leaving income before income taxes of $4.8 billion.
How Does Target Corporation Make Money?
Since 2024, US accounting rules (ASU 2023-07) require even a single-segment company to disclose the significant expense categories its management reviews. These are the amounts Target Corporation tags to its one segment, as a share of that segment's revenue.
| Line | FY2026 | FY2025 | Share of revenue |
|---|---|---|---|
| Revenue from contract with customer excluding assessed tax | $105 billion | $107 billion | 100.0% |
| Cost of goods and services sold | $75.5 billion | $76.5 billion | 72.1% |
| Selling, general and administrative expense | $21.5 billion | $22.0 billion | 20.6% |
| Depreciation and amortization | $2.6 billion | $2.5 billion | 2.5% |
| Interest expense | $445 million | $411 million | 0.4% |
| Other nonoperating income expense | $95 million | $106 million | 0.1% |
| Income before income taxes | $4.8 billion | $5.3 billion | 4.5% |
| Net income | $3.7 billion | $4.1 billion | 3.5% |
What a Single Segment Does and Does Not Tell You
One reportable segment means management runs Target Corporation as one business; it does not mean the company sells one product. Revenue can still be spread across products, customers and countries that the filing describes in its revenue note or Item 1 without tagging them as segments. Cost lines are the company's own categories, so they compare across years within Target Corporation more safely than against another company, and lines that are not listed are included in other expense totals rather than missing.
Where These Numbers Come From
Every figure on this page is a value Target Corporation reported in the segment note and revenue disclosures of its Form 10-K filed March 11, 2026 (accession 0000027419-26-000016), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2026; it is not a forecast or a recommendation.
Frequently Asked Questions
How many business segments does Target Corporation have?
One. In its fiscal 2026 Form 10-K, Target Corporation reports a single reportable segment, so its chief operating decision maker reviews the business as a whole rather than by division.
What are Target Corporation's biggest costs?
The segment expenses Target Corporation reports, largest first: cost of goods and services sold ($75.5 billion, 72% of revenue), selling, general and administrative expense ($21.5 billion, 21% of revenue), depreciation and amortization ($2.6 billion, 2% of revenue) and interest expense ($445 million, 0% of revenue).
How profitable is Target Corporation's business?
Income before income taxes was $4.8 billion in fiscal 2026, a margin of 4.5% on revenue of $105 billion.