TJX Companies (TJX) Financials

$140.14 +0.66 (+0.47%)

As of 11:33 AM Eastern

Annual Income Statements for TJX Companies

This table shows TJX Companies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2015	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025
Net Income / (Loss) Attributable to Common Shareholders	2,215	2,278	2,298	2,608	3,060	3,272	90	3,283	3,498	4,474	4,864
Consolidated Net Income / (Loss)	2,215	2,278	2,298	2,608	3,060	3,272	90	3,283	3,498	4,474	4,864
Net Income / (Loss) Continuing Operations	2,215	2,278	2,298	2,608	3,060	3,272	90	3,283	3,498	4,474	4,864
Total Pre-Tax Income	3,550	3,658	3,723	3,857	4,173	4,406	89	4,398	4,636	5,967	6,483
Total Operating Income	3,607	3,705	3,818	3,888	4,182	4,416	582	4,755	4,860	5,797	6,302
Total Gross Profit	8,302	8,910	9,618	10,362	11,142	11,871	7,603	13,836	13,787	16,266	17,248
Total Revenue	29,078	30,945	33,184	35,865	38,973	41,717	32,137	48,550	49,936	54,217	56,360
Operating Revenue	29,078	30,945	33,184	35,865	38,973	41,717	32,137	48,550	49,936	54,217	56,360
Total Cost of Revenue	20,777	22,035	23,566	25,502	27,831	29,846	24,534	34,714	36,149	37,951	39,112
Operating Cost of Revenue	20,777	22,035	23,566	25,502	27,831	29,846	24,534	34,714	36,149	37,951	39,112
Total Operating Expenses	4,695	5,206	5,800	6,474	6,960	7,455	7,021	9,081	8,927	10,469	10,946
Selling, General & Admin Expense	4,695	5,206	5,768	6,375	6,924	7,455	7,021	9,081	8,927	10,469	10,946
Total Other Income / (Expense), net	-57	-46	-95	-32	-8.86	-10	-493	-357	-224	170	181
Interest Expense	57	46	95	32	8.86	10	493	357	6.00	-170	-181
Interest & Investment Income	-	-	-	-	-	-	0.00	0.00	-218	0.00	0.00
Income Tax Expense	1,335	1,381	1,425	1,249	1,113	1,134	-1.00	1,115	1,138	1,493	1,619
Basic Earnings per Share	$3.20	$3.38	$1.75	$2.05	$2.47	$2.71	$0.08	$2.74	$3.00	$3.90	$4.31
Weighted Average Basic Shares Outstanding	692.69M	673.48M	1.31B	1.27B	1.24B	1.21B	1.20B	1.20B	1.17B	1.15B	1.13B
Diluted Earnings per Share	$3.15	$3.33	$1.73	$2.02	$2.43	$2.67	$0.07	$2.70	$2.97	$3.86	$4.26
Weighted Average Diluted Shares Outstanding	703.55M	683.25M	1.33B	1.29B	1.26B	1.23B	1.22B	1.22B	1.18B	1.16B	1.14B
Weighted Average Basic & Diluted Shares Outstanding	692.20M	673.90M	654.80M	1.27B	1.24B	1.20B	1.21B	1.18B	1.15B	1.13B	1.12B
Cash Dividends to Common per Share	$0.70	$0.84	$1.04	$0.63	$0.78	$0.92	$0.26	$1.04	$1.18	$1.33	$1.50

This table shows TJX Companies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	1/28/2023	4/29/2023	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025
Net Income / (Loss) Attributable to Common Shareholders	1,038	891	989	1,191	1,403	1,070	1,099	1,297	1,398	1,036	1,243
Consolidated Net Income / (Loss)	1,038	891	989	1,191	1,403	1,070	1,099	1,297	1,398	1,036	1,243
Net Income / (Loss) Continuing Operations	1,038	891	989	1,191	1,403	1,070	1,099	1,297	1,398	1,036	1,243
Total Pre-Tax Income	1,339	1,208	1,327	1,589	1,843	1,390	1,468	1,736	1,889	1,346	1,647
Total Operating Income	1,316	1,171	1,289	1,548	1,789	1,340	1,422	1,693	1,847	1,316	1,620
Total Gross Profit	3,789	3,409	3,848	4,126	4,883	3,740	4,088	4,441	4,979	3,865	4,425
Total Revenue	14,520	11,783	12,758	13,265	16,411	12,479	13,468	14,063	16,350	13,111	14,401
Operating Revenue	14,520	11,783	12,758	13,265	16,411	12,479	13,468	14,063	16,350	13,111	14,401
Total Cost of Revenue	10,731	8,374	8,910	9,139	11,528	8,739	9,380	9,622	11,371	9,246	9,976
Operating Cost of Revenue	10,731	8,374	8,910	9,139	11,528	8,739	9,380	9,622	11,371	9,246	9,976
Total Operating Expenses	2,473	2,238	2,559	2,578	3,094	2,400	2,666	2,748	3,132	2,549	2,805
Selling, General & Admin Expense	2,473	2,238	2,559	2,578	3,094	2,400	2,666	2,748	3,132	2,549	2,805
Total Other Income / (Expense), net	23	37	38	41	54	50	46	43	42	30	27
Interest Expense	-23	-37	-38	-41	-54	-50	-46	-43	-42	-30	-27
Income Tax Expense	301	317	338	398	440	320	369	439	491	310	404
Basic Earnings per Share	$0.89	$0.77	$0.86	$1.04	$1.23	$0.95	$0.97	$1.15	$1.24	$0.93	$1.11
Weighted Average Basic Shares Outstanding	1.17B	1.15B	1.15B	1.14B	1.15B	1.13B	1.13B	1.13B	1.13B	1.12B	1.12B
Diluted Earnings per Share	$0.88	$0.76	$0.85	$1.03	$1.22	$0.93	$0.96	$1.14	$1.23	$0.92	$1.10
Weighted Average Diluted Shares Outstanding	1.18B	1.17B	1.16B	1.16B	1.16B	1.15B	1.14B	1.14B	1.14B	1.13B	1.13B
Weighted Average Basic & Diluted Shares Outstanding	1.15B	1.15B	1.14B	1.14B	1.13B	1.13B	1.13B	1.12B	1.12B	1.12B	1.11B

This table details how cash moves in and out of TJX Companies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2015	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025
Net Change in Cash & Equivalents	344	-398	834	-284	272	187	7,253	-4,243	-750	123	-265
Net Cash From Operating Activities	3,008	2,957	3,627	3,026	4,088	4,067	4,562	3,057	4,084	6,057	6,116
Net Cash From Continuing Operating Activities	3,008	2,957	3,627	3,026	4,088	4,067	4,562	3,057	4,084	6,057	6,116
Net Income / (Loss) Continuing Operations	2,215	2,278	2,298	2,608	3,060	3,272	90	3,283	3,498	4,474	4,864
Consolidated Net Income / (Loss)	2,215	2,278	2,298	2,608	3,060	3,272	90	3,283	3,498	4,474	4,864
Depreciation Expense	589	617	659	726	820	867	871	868	887	964	1,104
Non-Cash Adjustments To Reconcile Net Income	14	33	85	209	121	171	455	440	363	221	193
Changes in Operating Assets and Liabilities, net	191	30	592	-518	88	-244	3,146	-1,534	-664	398	-45
Net Cash From Investing Activities	-955	-1,063	-1,215	-1,013	-624	-1,462	-579	-1,046	-1,470	-1,717	-2,477
Net Cash From Continuing Investing Activities	-955	-1,063	-1,215	-1,013	-624	-1,462	-579	-1,046	-1,470	-1,717	-2,477
Purchase of Property, Plant & Equipment	-912	-889	-1,025	-1,058	-1,125	-1,223	-568	-1,045	-1,457	-1,722	-1,918
Acquisitions	0.00	-57	-	0.00	0.00	-230	-	-	0.00	0.00	-551
Purchase of Investments	-431	-798	-717	-861	-162	-29	-29	-22	-31	-28	-35
Sale and/or Maturity of Investments	388	681	529	906	637	13	18	21	18	33	27
Net Cash From Financing Activities	-1,560	-2,195	-1,587	-2,297	-3,097	-2,415	3,228	-6,200	-3,306	-4,215	-3,838
Net Cash From Continuing Financing Activities	-1,560	-2,195	-1,587	-2,297	-3,097	-2,415	3,228	-6,200	-3,306	-4,215	-3,838
Repayment of Debt	-423	0.00	-436	-3.14	-7.12	0.00	-2,490	-3,001	-33	-532	-43
Repurchase of Common Equity	-1,651	-1,828	-1,700	-1,645	-2,407	-1,552	-202	-2,176	-2,255	-2,484	-2,513
Payment of Dividends	-466	-544	-651	-764	-923	-1,072	-278	-1,252	-1,339	-1,484	-1,648
Issuance of Common Equity	143	132	164	134	255	232	211	229	321	285	366
Effect of Exchange Rate Changes	-	-	9.27	-	-96	-3.18	42	-54	-58	-2.00	-66

This table details how cash moves in and out of TJX Companies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	1/28/2023	4/29/2023	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025
Net Change in Cash & Equivalents	2,112	-452	-475	-260	1,310	-541	191	-532	617	-1,080	384
Net Cash From Operating Activities	3,025	745	1,341	1,171	2,800	737	1,629	1,046	2,704	394	1,791
Net Cash From Continuing Operating Activities	3,025	745	1,341	1,171	2,800	737	1,629	1,046	2,704	394	1,791
Net Income / (Loss) Continuing Operations	1,038	891	989	1,191	1,403	1,070	1,099	1,297	1,398	1,036	1,243
Consolidated Net Income / (Loss)	1,038	891	989	1,191	1,403	1,070	1,099	1,297	1,398	1,036	1,243
Depreciation Expense	231	232	235	245	252	264	265	266	309	296	308
Non-Cash Adjustments To Reconcile Net Income	43	38	53	69	61	41	45	48	59	33	45
Changes in Operating Assets and Liabilities, net	1,713	-416	64	-334	1,084	-638	220	-565	938	-971	195
Net Cash From Investing Activities	-360	-362	-457	-462	-436	-427	-563	-617	-870	-503	-466
Net Cash From Continuing Investing Activities	-360	-362	-457	-462	-436	-427	-563	-617	-870	-503	-466
Purchase of Property, Plant & Equipment	-357	-361	-459	-460	-442	-419	-563	-422	-514	-497	-461
Purchase of Investments	-5.00	-11	-6.00	-5.00	-6.00	-16	-7.00	-6.00	-6.00	-17	-4.00
Sale and/or Maturity of Investments	2.00	10	8.00	3.00	12	8.00	7.00	3.00	9.00	11	4.00
Net Cash From Financing Activities	-591	-837	-1,377	-904	-1,097	-840	-882	-953	-1,163	-1,048	-954
Net Cash From Continuing Financing Activities	-591	-837	-1,377	-904	-1,097	-840	-882	-953	-1,163	-1,048	-954
Repayment of Debt	-1.00	-30	-499	-	-3.00	-41	-1.00	-	-1.00	-61	-3.00
Repurchase of Common Equity	-455	-492	-549	-646	-797	-509	-559	-593	-852	-613	-531
Payment of Dividends	-341	-343	-382	-380	-379	-380	-423	-423	-422	-424	-474
Issuance of Common Equity	206	28	53	122	82	90	101	63	112	50	54
Effect of Exchange Rate Changes	38	2.00	18	-65	43	-11	7.00	-8.00	-54	77	13

This table presents TJX Companies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2015	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025
Total Assets	10,989	11,490	12,884	14,058	14,326	24,145	30,814	28,461	28,349	29,747	31,749
Total Current Assets	6,577	6,773	7,751	8,486	8,469	8,891	15,739	13,259	12,456	12,664	12,991
Cash & Equivalents	2,494	2,095	2,930	2,758	3,030	3,217	10,470	6,227	5,477	5,600	5,335
Accounts Receivable	214	238	259	327	346	386	461	518	563	529	549
Inventories, net	3,218	3,695	3,645	4,187	4,579	4,873	4,337	5,962	5,819	5,965	6,421
Prepaid Expenses	357	392	374	707	514	368	435	437	478	511	617
Current Deferred & Refundable Income Taxes	12	-	-	-	-	47	36	115	119	59	69
Plant, Property, & Equipment, net	3,868	4,138	4,533	5,006	5,255	5,325	5,036	5,271	5,783	6,571	7,346
Total Noncurrent Assets	543	580	600	566	602	9,929	10,038	9,931	10,110	10,512	11,412
Goodwill	310	194	196	100	98	96	99	97	97	95	94
Noncurrent Deferred & Refundable Income Taxes	23	14	6.19	6.56	6.47	12	127	185	158	172	148
Other Noncurrent Operating Assets	211	373	398	460	498	9,822	9,812	9,649	9,855	10,245	11,170
Total Liabilities & Shareholders' Equity	10,989	11,490	12,884	14,058	14,326	24,145	30,814	28,461	28,349	29,747	31,749
Total Liabilities	6,725	7,183	8,373	8,910	9,277	18,197	24,981	22,458	21,985	22,445	23,356
Total Current Liabilities	3,930	4,402	4,758	5,126	5,531	7,150	10,804	10,468	10,305	10,451	11,008
Accounts Payable	2,008	2,203	2,231	2,488	2,644	2,673	4,823	4,465	3,794	3,862	4,257
Accrued Expenses	1,796	2,070	2,320	2,523	2,733	3,042	3,471	4,245	4,346	4,870	5,040
Current Deferred & Payable Income Tax Liabilities	126	130	206	114	154	25	82	181	55	99	75
Other Current Liabilities	-	-	-	-	-	1,411	1,678	1,577	1,610	1,620	1,636
Total Noncurrent Liabilities	2,795	2,781	3,616	3,784	3,746	11,047	14,177	11,990	11,680	11,994	12,348
Long-Term Debt	1,624	1,615	2,228	2,231	2,234	2,237	5,333	3,355	2,859	2,862	2,866
Noncurrent Deferred & Payable Income Tax Liabilities	283	285	314	233	158	142	37	44	127	148	156
Other Noncurrent Operating Liabilities	888	881	1,074	1,321	1,354	8,668	8,807	8,591	8,694	8,984	9,326
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,264	4,307	4,511	5,148	5,049	5,948	5,833	6,003	6,364	7,302	8,393
Total Preferred & Common Equity	4,264	4,307	4,511	5,148	5,049	5,948	5,833	6,003	6,364	7,302	8,393
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	4,264	4,307	4,511	5,148	5,049	5,948	5,833	6,003	6,364	7,302	8,393
Common Stock	685	663	646	1,256	1,217	1,199	1,465	1,181	1,155	1,134	1,119
Retained Earnings	4,134	4,311	4,559	4,334	4,462	5,422	4,974	5,509	5,815	6,700	7,883
Accumulated Other Comprehensive Income / (Loss)	-554	-667	-694	-442	-630	-673	-606	-687	-606	-532	-609

This table presents TJX Companies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	10/29/2022	1/28/2023	4/29/2023	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	5/3/2025	8/2/2025
Total Assets	28,428	28,349	28,681	28,922	30,351	29,747	29,679	30,555	32,436	31,858	32,885
Total Current Assets	12,989	12,456	12,595	12,338	13,806	12,664	12,409	12,890	14,352	12,595	13,278
Cash & Equivalents	3,365	5,477	5,025	4,550	4,290	5,600	5,059	5,250	4,718	4,255	4,639
Accounts Receivable	571	563	587	548	560	529	542	521	599	594	600
Inventories, net	8,329	5,819	6,441	6,585	8,285	5,965	6,218	6,470	8,371	7,127	7,372
Prepaid Expenses	582	478	496	507	535	511	528	536	546	575	562
Current Deferred & Refundable Income Taxes	142	119	46	148	136	59	62	113	118	44	105
Plant, Property, & Equipment, net	5,573	5,783	5,899	6,166	6,262	6,571	6,622	6,968	7,136	7,554	7,775
Total Noncurrent Assets	9,866	10,110	10,187	10,418	10,283	10,512	10,648	10,697	10,948	11,709	11,832
Goodwill	95	97	95	95	94	95	95	95	95	95	95
Noncurrent Deferred & Refundable Income Taxes	174	158	150	149	152	172	156	147	142	141	142
Other Noncurrent Operating Assets	9,597	9,855	9,942	10,174	10,037	10,245	10,397	10,455	10,711	11,473	11,595
Total Liabilities & Shareholders' Equity	28,428	28,349	28,681	28,922	30,351	29,747	29,679	30,555	32,436	31,858	32,885
Total Liabilities	22,763	21,985	22,259	22,314	23,518	22,445	22,177	22,773	24,263	23,355	24,019
Total Current Liabilities	11,234	10,305	10,534	10,317	11,640	10,451	10,100	10,621	12,017	10,827	11,308
Accounts Payable	4,993	3,794	4,304	4,438	5,425	3,862	4,072	4,503	5,617	4,414	4,698
Accrued Expenses	4,084	4,346	3,954	4,244	4,482	4,870	4,115	4,458	4,714	4,492	4,776
Current Deferred & Payable Income Tax Liabilities	83	55	167	17	51	99	298	39	44	261	165
Other Current Liabilities	1,574	1,610	1,609	1,618	1,682	1,620	1,615	1,621	1,642	1,660	1,669
Total Noncurrent Liabilities	11,529	11,680	11,725	11,997	11,878	11,994	12,077	12,152	12,246	12,528	12,711
Long-Term Debt	2,858	2,859	2,860	2,861	2,861	2,862	2,863	2,864	2,865	2,867	2,867
Noncurrent Deferred & Payable Income Tax Liabilities	74	127	133	132	133	148	156	162	172	154	217
Other Noncurrent Operating Liabilities	8,597	8,694	8,732	9,004	8,884	8,984	9,058	9,126	9,209	9,507	9,627
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,665	6,364	6,422	6,608	6,833	7,302	7,502	7,782	8,173	8,503	8,866
Total Preferred & Common Equity	5,665	6,364	6,422	6,608	6,833	7,302	7,502	7,782	8,173	8,503	8,866
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	5,665	6,364	6,422	6,608	6,833	7,302	7,502	7,782	8,173	8,503	8,866
Common Stock	1,156	1,155	1,150	1,145	1,141	1,134	1,131	1,128	1,124	1,116	1,113
Retained Earnings	5,338	5,815	5,864	6,014	6,345	6,700	6,921	7,186	7,596	7,851	8,198
Accumulated Other Comprehensive Income / (Loss)	-829	-606	-592	-551	-653	-532	-550	-532	-547	-464	-445

This table displays calculated financial ratios and metrics derived from TJX Companies' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2015	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.04%	6.42%	7.23%	8.08%	8.67%	7.04%	-22.96%	51.07%	2.85%	8.57%	3.95%
EBITDA Growth	7.59%	3.00%	3.60%	3.06%	8.40%	5.63%	-72.50%	286.99%	2.21%	17.64%	9.54%
EBIT Growth	7.64%	2.72%	3.07%	1.83%	7.56%	5.60%	-86.82%	717.01%	2.21%	19.28%	8.71%
NOPAT Growth	4.31%	2.49%	2.19%	11.55%	16.62%	6.96%	-82.05%	503.10%	3.31%	18.53%	8.78%
Net Income Growth	3.64%	2.82%	0.90%	13.48%	17.33%	6.94%	-97.25%	3,547.78%	6.55%	27.90%	8.72%
EPS Growth	7.14%	5.71%	0.90%	13.48%	20.30%	9.88%	-97.38%	3,757.14%	10.00%	29.97%	10.36%
Operating Cash Flow Growth	15.69%	-1.71%	22.66%	-16.58%	35.13%	-0.54%	12.18%	-32.99%	33.60%	48.31%	0.97%
Free Cash Flow Firm Growth	47.50%	-11.58%	32.01%	-30.63%	64.51%	-12.46%	60.36%	-54.65%	36.90%	57.86%	-16.39%
Invested Capital Growth	1.70%	11.65%	-6.02%	26.01%	3.35%	16.84%	-70.90%	116.57%	35.61%	7.49%	29.80%
Revenue Q/Q Growth	1.73%	2.17%	1.55%	4.34%	0.43%	2.66%	-3.78%	6.38%	1.35%	3.61%	-0.11%
EBITDA Q/Q Growth	2.56%	1.18%	0.67%	0.88%	1.74%	3.00%	-24.42%	7.75%	1.10%	7.88%	1.58%
EBIT Q/Q Growth	2.72%	1.04%	0.70%	0.34%	1.47%	3.57%	-44.25%	9.10%	1.08%	8.88%	0.93%
NOPAT Q/Q Growth	3.07%	0.85%	0.45%	8.12%	-1.29%	4.68%	-31.77%	11.82%	1.84%	8.54%	0.11%
Net Income Q/Q Growth	3.07%	0.81%	0.50%	8.28%	-1.15%	4.58%	-88.00%	23.07%	2.87%	8.88%	-0.10%
EPS Q/Q Growth	1.29%	1.52%	0.50%	8.28%	-2.80%	3.09%	-88.71%	21.62%	3.48%	9.66%	0.24%
Operating Cash Flow Q/Q Growth	7.73%	4.14%	6.28%	-12.15%	14.40%	16.71%	-29.49%	36.95%	88.28%	-3.58%	-1.55%
Free Cash Flow Firm Q/Q Growth	25.44%	-3.38%	4.40%	-17.69%	25.79%	16.91%	-23.86%	38.22%	168.65%	-5.40%	-11.53%
Invested Capital Q/Q Growth	-12.76%	-9.57%	-12.47%	2.87%	-11.01%	-13.12%	22.37%	4.12%	-24.96%	-15.54%	-6.27%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	28.55%	28.79%	28.98%	28.89%	28.59%	28.46%	23.66%	28.50%	27.61%	30.00%	30.60%
EBITDA Margin	14.43%	13.96%	13.49%	12.87%	12.83%	12.67%	4.52%	11.58%	11.51%	12.47%	13.14%
Operating Margin	12.40%	11.97%	11.51%	10.84%	10.73%	10.59%	1.81%	9.79%	9.73%	10.69%	11.18%
EBIT Margin	12.40%	11.97%	11.51%	10.84%	10.73%	10.59%	1.81%	9.79%	9.73%	10.69%	11.18%
Profit (Net Income) Margin	7.62%	7.36%	6.93%	7.27%	7.85%	7.84%	0.28%	6.76%	7.01%	8.25%	8.63%
Tax Burden Percent	62.40%	62.26%	61.73%	67.62%	73.32%	74.26%	101.12%	74.65%	75.45%	74.98%	75.03%
Interest Burden Percent	98.43%	98.75%	97.50%	99.19%	99.79%	99.77%	15.29%	92.49%	95.39%	102.93%	102.87%
Effective Tax Rate	37.60%	37.74%	38.27%	32.38%	26.68%	25.74%	-1.12%	25.35%	24.55%	25.02%	24.97%
Return on Invested Capital (ROIC)	72.93%	70.04%	69.95%	71.26%	73.30%	71.14%	18.35%	155.11%	99.42%	98.67%	90.16%
ROIC Less NNEP Spread (ROIC-NNEP)	75.97%	72.95%	75.61%	73.14%	74.01%	71.98%	36.93%	162.45%	106.19%	93.42%	84.95%
Return on Net Nonoperating Assets (RNNOA)	-20.78%	-16.90%	-17.82%	-17.26%	-13.29%	-11.63%	-16.82%	-99.63%	-42.85%	-33.20%	-28.18%
Return on Equity (ROE)	52.16%	53.15%	52.13%	54.00%	60.01%	59.51%	1.53%	55.48%	56.57%	65.48%	61.98%
Cash Return on Invested Capital (CROIC)	71.25%	59.03%	76.16%	48.25%	70.01%	55.61%	128.19%	81.46%	69.19%	91.45%	64.23%
Operating Return on Assets (OROA)	34.04%	32.96%	31.33%	28.86%	29.47%	22.96%	2.12%	16.04%	17.11%	19.96%	20.50%
Return on Assets (ROA)	20.91%	20.26%	18.86%	19.36%	21.56%	17.01%	0.33%	11.08%	12.31%	15.40%	15.82%
Return on Common Equity (ROCE)	52.16%	53.15%	52.13%	54.00%	60.01%	59.51%	1.53%	55.48%	56.57%	65.48%	61.98%
Return on Equity Simple (ROE_SIMPLE)	51.95%	52.88%	50.95%	50.66%	60.61%	55.01%	1.54%	54.69%	54.97%	61.27%	57.95%
Net Operating Profit after Tax (NOPAT)	2,250	2,307	2,357	2,629	3,066	3,280	589	3,549	3,667	4,347	4,728
NOPAT Margin	7.74%	7.45%	7.10%	7.33%	7.87%	7.86%	1.83%	7.31%	7.34%	8.02%	8.39%
Net Nonoperating Expense Percent (NNEP)	-3.04%	-2.91%	-5.66%	-1.87%	-0.71%	-0.84%	-18.58%	-7.34%	-6.77%	5.25%	5.22%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	41.99%
Cost of Revenue to Revenue	71.45%	71.21%	71.02%	71.11%	71.41%	71.54%	76.34%	71.50%	72.39%	70.00%	69.40%
SG&A Expenses to Revenue	16.15%	16.82%	17.38%	17.78%	17.77%	17.87%	21.85%	18.70%	17.88%	19.31%	19.42%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.15%	16.82%	17.48%	18.05%	17.86%	17.87%	21.85%	18.70%	17.88%	19.31%	19.42%
Earnings before Interest and Taxes (EBIT)	3,607	3,705	3,818	3,888	4,182	4,416	582	4,755	4,860	5,797	6,302
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4,195	4,321	4,477	4,614	5,002	5,284	1,453	5,623	5,747	6,761	7,406
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.29	9.78	9.60	8.76	11.04	11.22	12.43	13.57	14.49	15.06	16.66
Price to Tangible Book Value (P/TBV)	10.02	10.24	10.03	8.94	11.26	11.40	12.65	13.80	14.71	15.26	16.85
Price to Revenue (P/Rev)	1.36	1.36	1.30	1.26	1.43	1.60	2.26	1.68	1.85	2.03	2.48
Price to Earnings (P/E)	17.89	18.48	18.84	17.30	18.21	20.40	805.63	24.82	26.35	24.58	28.75
Dividend Yield	1.16%	1.28%	1.49%	1.68%	1.64%	1.60%	1.52%	1.52%	1.44%	1.34%	1.17%
Earnings Yield	5.59%	5.41%	5.31%	5.78%	5.49%	4.90%	0.12%	4.03%	3.79%	4.07%	3.48%
Enterprise Value to Invested Capital (EV/IC)	12.37	11.88	12.88	10.71	12.92	13.24	47.12	25.11	21.21	23.49	23.19
Enterprise Value to Revenue (EV/Rev)	1.32	1.33	1.27	1.23	1.41	1.58	2.12	1.62	1.80	1.98	2.44
Enterprise Value to EBITDA (EV/EBITDA)	9.17	9.55	9.39	9.55	10.98	12.45	46.88	13.98	15.67	15.86	18.55
Enterprise Value to EBIT (EV/EBIT)	10.67	11.14	11.01	11.34	13.13	14.89	117.04	16.53	18.53	18.50	21.80
Enterprise Value to NOPAT (EV/NOPAT)	17.10	17.89	17.84	16.76	17.91	20.05	115.74	22.15	24.56	24.67	29.06
Enterprise Value to Operating Cash Flow (EV/OCF)	12.79	13.96	11.59	14.57	13.43	16.17	14.93	25.72	22.05	17.70	22.46
Enterprise Value to Free Cash Flow (EV/FCFF)	17.50	21.23	16.39	24.76	18.76	25.65	16.57	42.17	35.29	26.61	40.79
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.38	0.38	0.49	0.43	0.44	0.38	1.04	0.56	0.53	0.39	0.34
Long-Term Debt to Equity	0.38	0.38	0.49	0.43	0.44	0.38	0.91	0.56	0.45	0.39	0.34
Financial Leverage	-0.27	-0.23	-0.24	-0.24	-0.18	-0.16	-0.46	-0.61	-0.40	-0.36	-0.33
Leverage Ratio	2.49	2.62	2.76	2.79	2.78	3.50	4.67	5.01	4.59	4.25	3.92
Compound Leverage Factor	2.46	2.59	2.70	2.77	2.78	3.49	0.71	4.63	4.38	4.38	4.03
Debt to Total Capital	27.58%	27.27%	33.06%	30.23%	30.67%	27.33%	51.05%	35.85%	34.55%	28.16%	25.46%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.29%	0.00%	5.14%	0.00%	0.00%
Long-Term Debt to Total Capital	27.58%	27.27%	33.06%	30.23%	30.67%	27.33%	44.76%	35.85%	29.40%	28.16%	25.46%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	72.42%	72.73%	66.94%	69.77%	69.33%	72.67%	48.95%	64.15%	65.45%	71.84%	74.54%
Debt to EBITDA	0.77	0.37	0.50	0.48	0.45	0.42	4.19	0.60	0.58	0.42	0.39
Net Debt to EBITDA	-0.27	-0.19	-0.28	-0.22	-0.16	-0.19	-3.02	-0.51	-0.37	-0.41	-0.33
Long-Term Debt to EBITDA	0.39	0.37	0.50	0.48	0.45	0.42	3.67	0.60	0.50	0.42	0.39
Debt to NOPAT	0.72	0.70	0.95	0.85	0.73	0.68	10.34	0.95	0.92	0.66	0.61
Net Debt to NOPAT	-0.51	-0.36	-0.53	-0.39	-0.26	-0.30	-7.45	-0.81	-0.58	-0.63	-0.52
Long-Term Debt to NOPAT	0.72	0.70	0.95	0.85	0.73	0.68	9.06	0.95	0.78	0.66	0.61
Altman Z-Score	8.08	8.05	7.43	7.22	7.97	4.93	3.27	4.82	5.22	5.81	6.45
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.67	1.54	1.63	1.66	1.53	1.24	1.46	1.27	1.21	1.21	1.18
Quick Ratio	0.76	0.61	0.78	0.70	0.61	0.50	1.01	0.64	0.59	0.59	0.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,198	1,944	2,566	1,780	2,929	2,564	4,111	1,864	2,552	4,029	3,368
Operating Cash Flow to CapEx	330.04%	332.47%	353.93%	286.08%	363.37%	332.47%	803.17%	292.54%	280.30%	351.74%	318.87%
Free Cash Flow to Firm to Interest Expense	38.83	41.90	26.93	56.36	330.54	255.69	8.34	5.22	425.34	0.00	0.00
Operating Cash Flow to Interest Expense	53.14	63.73	38.05	95.78	461.45	405.60	9.25	8.56	680.67	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	37.04	44.56	27.30	62.30	334.46	283.61	8.10	5.64	437.83	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.74	2.75	2.72	2.66	2.75	2.17	1.17	1.64	1.76	1.87	1.83
Accounts Receivable Turnover	137.19	136.96	133.56	122.41	115.74	113.89	75.85	99.17	92.39	99.30	104.56
Inventory Turnover	6.72	6.37	6.42	6.51	6.35	6.32	5.33	6.74	6.14	6.44	6.32
Fixed Asset Turnover	7.79	7.73	7.65	7.52	7.60	7.89	6.20	9.42	9.03	8.78	8.10
Accounts Payable Turnover	11.00	10.47	10.63	10.81	10.85	11.23	6.55	7.47	8.75	9.91	9.63
Days Sales Outstanding (DSO)	2.66	2.67	2.73	2.98	3.15	3.20	4.81	3.68	3.95	3.68	3.49
Days Inventory Outstanding (DIO)	54.32	57.26	56.84	56.05	57.48	57.79	68.51	54.15	59.48	56.67	57.79
Days Payable Outstanding (DPO)	33.19	34.87	34.34	33.77	33.66	32.51	55.76	48.83	41.70	36.82	37.88
Cash Conversion Cycle (CCC)	23.79	25.05	25.24	25.26	26.98	28.49	17.56	9.00	21.73	23.53	23.40
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,112	3,474	3,265	4,114	4,252	4,968	1,446	3,131	4,246	4,564	5,924
Invested Capital Turnover	9.42	9.40	9.85	9.72	9.32	9.05	10.02	21.22	13.54	12.31	10.75
Increase / (Decrease) in Invested Capital	52	363	-209	849	138	716	-3,522	1,685	1,115	318	1,360
Enterprise Value (EV)	38,481	41,269	42,052	44,080	54,928	65,761	68,120	78,618	90,069	107,216	137,392
Market Capitalization	39,634	42,102	43,298	45,114	55,725	66,741	72,507	81,490	92,187	109,954	139,861
Book Value per Share	$6.19	$6.43	$6.92	$8.14	$4.09	$4.94	$4.86	$5.03	$5.51	$6.41	$7.47
Tangible Book Value per Share	$5.74	$6.14	$6.62	$7.98	$4.02	$4.86	$4.78	$4.95	$5.42	$6.32	$7.38
Total Capital	5,888	5,922	6,738	7,379	7,282	8,185	11,915	9,358	9,723	10,164	11,259
Total Debt	1,624	1,615	2,228	2,231	2,234	2,237	6,083	3,355	3,359	2,862	2,866
Total Long-Term Debt	1,624	1,615	2,228	2,231	2,234	2,237	5,333	3,355	2,859	2,862	2,866
Net Debt	-1,153	-833	-1,245	-1,034	-797	-980	-4,387	-2,872	-2,118	-2,738	-2,469
Capital Expenditures (CapEx)	912	889	1,025	1,058	1,125	1,223	568	1,045	1,457	1,722	1,918
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-129	-77	-480	96	-92	-1,476	-4,784	-3,436	-2,826	-3,387	-3,352
Debt-free Net Working Capital (DFNWC)	2,648	2,370	2,993	3,360	2,938	1,740	5,685	2,791	2,651	2,213	1,983
Net Working Capital (NWC)	2,648	2,370	2,993	3,360	2,938	1,740	4,936	2,791	2,151	2,213	1,983
Net Nonoperating Expense (NNE)	35	29	59	21	6.50	7.45	499	266	169	-127	-136
Net Nonoperating Obligations (NNO)	-1,153	-833	-1,245	-1,034	-797	-980	-4,387	-2,872	-2,118	-2,738	-2,469
Total Depreciation and Amortization (D&A)	589	617	659	726	820	867	871	868	887	964	1,104
Debt-free, Cash-free Net Working Capital to Revenue	-0.44%	-0.25%	-1.45%	0.27%	-0.24%	-3.54%	-14.89%	-7.08%	-5.66%	-6.25%	-5.95%
Debt-free Net Working Capital to Revenue	9.11%	7.66%	9.02%	9.37%	7.54%	4.17%	17.69%	5.75%	5.31%	4.08%	3.52%
Net Working Capital to Revenue	9.11%	7.66%	9.02%	9.37%	7.54%	4.17%	15.36%	5.75%	4.31%	4.08%	3.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.60	$1.69	$1.76	$2.05	$2.47	$2.71	$0.08	$2.74	$3.00	$3.90	$4.31
Adjusted Weighted Average Basic Shares Outstanding	1.39B	1.35B	1.31B	1.27B	1.24B	1.21B	1.20B	1.20B	1.17B	1.15B	1.13B
Adjusted Diluted Earnings per Share	$1.58	$1.67	$1.73	$2.02	$2.43	$2.67	$0.07	$2.70	$2.97	$3.86	$4.26
Adjusted Weighted Average Diluted Shares Outstanding	1.41B	1.37B	1.33B	1.29B	1.26B	1.23B	1.21B	1.22B	1.18B	1.16B	1.14B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.37B	1.33B	1.29B	1.25B	1.21B	1.20B	1.21B	1.18B	1.15B	1.13B	1.12B
Normalized Net Operating Profit after Tax (NOPAT)	2,250	2,307	2,376	2,696	3,093	3,280	407	3,549	3,667	4,347	4,728
Normalized NOPAT Margin	7.74%	7.45%	7.16%	7.52%	7.94%	7.86%	1.27%	7.31%	7.34%	8.02%	8.39%
Pre Tax Income Margin	12.21%	11.82%	11.22%	10.75%	10.71%	10.56%	0.28%	9.06%	9.28%	11.01%	11.50%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	63.70	79.84	40.06	123.09	472.02	440.48	1.18	13.32	810.00	0.00	0.00
NOPAT to Interest Expense	39.75	49.71	24.73	83.24	346.08	327.11	1.19	9.94	611.17	0.00	0.00
EBIT Less CapEx to Interest Expense	47.60	60.68	29.31	89.61	345.03	318.48	0.03	10.39	567.17	0.00	0.00
NOPAT Less CapEx to Interest Expense	23.65	30.54	13.98	49.76	219.09	205.12	0.04	7.02	368.34	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	21.03%	23.90%	28.33%	29.30%	30.15%	32.75%	308.89%	38.14%	38.28%	33.17%	33.88%
Augmented Payout Ratio	95.55%	104.17%	102.30%	92.36%	108.82%	80.18%	533.33%	104.42%	102.74%	88.69%	85.55%

This table displays calculated financial ratios and metrics derived from TJX Companies' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	1/28/2023	4/29/2023	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.80%	3.31%	7.73%	9.02%	13.02%	5.91%	5.57%	6.02%	-0.37%	5.06%	6.93%
EBITDA Growth	4.22%	7.18%	15.89%	13.77%	31.93%	14.33%	10.70%	9.26%	5.63%	0.50%	14.29%
EBIT Growth	4.11%	7.53%	17.50%	13.99%	35.94%	14.43%	10.32%	9.37%	3.24%	-1.79%	13.92%
NOPAT Growth	6.70%	15.12%	17.41%	9.23%	33.50%	19.43%	10.81%	9.02%	0.37%	-1.80%	14.85%
Net Income Growth	10.38%	51.79%	22.10%	12.04%	35.16%	20.09%	11.12%	8.90%	-0.36%	-3.18%	13.10%
EPS Growth	12.82%	55.10%	23.19%	13.19%	38.64%	22.37%	12.94%	10.68%	0.82%	-1.08%	14.58%
Operating Cash Flow Growth	172.51%	217.51%	109.53%	11.21%	-7.44%	-1.07%	21.48%	-10.67%	-3.43%	-46.54%	9.94%
Free Cash Flow Firm Growth	87.00%	163.18%	172.20%	189.02%	1,200.81%	-36.74%	-53.54%	-75.33%	-99.34%	-264.99%	-180.91%
Invested Capital Growth	35.61%	2.17%	-5.82%	-4.49%	7.49%	11.54%	9.70%	16.95%	29.80%	34.09%	31.47%
Revenue Q/Q Growth	19.34%	-18.85%	8.27%	3.97%	23.72%	-23.96%	7.93%	4.42%	16.26%	-19.81%	9.84%
EBITDA Q/Q Growth	-1.84%	-9.31%	8.62%	17.65%	13.83%	-21.41%	5.17%	16.12%	10.06%	-25.23%	19.60%
EBIT Q/Q Growth	-3.09%	-11.02%	10.08%	20.09%	15.57%	-25.10%	6.12%	19.06%	9.10%	-28.75%	23.10%
NOPAT Q/Q Growth	-3.96%	-15.34%	11.23%	20.78%	17.38%	-24.26%	3.20%	18.82%	8.07%	-25.90%	20.70%
Net Income Q/Q Growth	-2.35%	-14.16%	11.00%	20.42%	17.80%	-23.73%	2.71%	18.02%	7.79%	-25.89%	19.98%
EPS Q/Q Growth	-3.30%	-13.64%	11.84%	21.18%	18.45%	-23.77%	3.23%	18.75%	7.89%	-25.20%	19.57%
Operating Cash Flow Q/Q Growth	187.27%	-75.37%	80.00%	-12.68%	139.11%	-73.68%	121.03%	-35.79%	158.51%	-85.43%	354.57%
Free Cash Flow Firm Q/Q Growth	94.03%	904.29%	65.81%	11.83%	-26.19%	-53.78%	21.77%	-40.62%	-98.02%	-11,609.38%	40.29%
Invested Capital Q/Q Growth	-24.96%	12.03%	3.41%	9.86%	-15.54%	16.26%	1.70%	17.12%	-6.27%	20.10%	-0.30%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.10%	28.93%	30.16%	31.10%	29.75%	29.97%	30.35%	31.58%	30.45%	29.48%	30.73%
EBITDA Margin	10.65%	11.91%	11.95%	13.52%	12.44%	12.85%	12.53%	13.93%	13.19%	12.30%	13.39%
Operating Margin	9.06%	9.94%	10.10%	11.67%	10.90%	10.74%	10.56%	12.04%	11.30%	10.04%	11.25%
EBIT Margin	9.06%	9.94%	10.10%	11.67%	10.90%	10.74%	10.56%	12.04%	11.30%	10.04%	11.25%
Profit (Net Income) Margin	7.15%	7.56%	7.75%	8.98%	8.55%	8.57%	8.16%	9.22%	8.55%	7.90%	8.63%
Tax Burden Percent	77.52%	73.76%	74.53%	74.95%	76.13%	76.98%	74.86%	74.71%	74.01%	76.97%	75.47%
Interest Burden Percent	101.75%	103.16%	102.95%	102.65%	103.02%	103.73%	103.23%	102.54%	102.27%	102.28%	101.67%
Effective Tax Rate	22.48%	26.24%	25.47%	25.05%	23.87%	23.02%	25.14%	25.29%	25.99%	23.03%	24.53%
Return on Invested Capital (ROIC)	95.12%	78.36%	76.07%	82.75%	102.14%	90.21%	85.25%	86.57%	89.85%	70.90%	78.75%
ROIC Less NNEP Spread (ROIC-NNEP)	94.41%	76.26%	73.03%	78.47%	100.45%	88.22%	83.56%	84.61%	88.66%	69.61%	77.77%
Return on Net Nonoperating Assets (RNNOA)	-38.09%	-16.53%	-11.33%	-9.02%	-35.69%	-24.46%	-23.66%	-18.51%	-29.41%	-15.59%	-19.42%
Return on Equity (ROE)	57.03%	61.83%	64.74%	73.73%	66.45%	65.75%	61.59%	68.06%	60.44%	55.31%	59.32%
Cash Return on Invested Capital (CROIC)	69.19%	77.83%	83.01%	76.99%	91.45%	78.81%	80.30%	64.94%	64.23%	46.70%	50.75%
Operating Return on Assets (OROA)	15.93%	17.73%	18.48%	20.78%	20.35%	20.21%	19.75%	21.64%	20.71%	18.59%	20.54%
Return on Assets (ROA)	12.57%	13.49%	14.18%	15.99%	15.96%	16.14%	15.26%	16.58%	15.67%	14.64%	15.76%
Return on Common Equity (ROCE)	57.03%	61.83%	64.74%	73.73%	66.45%	65.75%	61.59%	68.06%	60.44%	55.31%	59.32%
Return on Equity Simple (ROE_SIMPLE)	0.00%	59.20%	60.25%	60.13%	0.00%	62.02%	61.21%	59.57%	0.00%	56.80%	0.00%
Net Operating Profit after Tax (NOPAT)	1,020	864	961	1,160	1,362	1,032	1,065	1,265	1,367	1,013	1,223
NOPAT Margin	7.03%	7.33%	7.53%	8.75%	8.30%	8.27%	7.90%	8.99%	8.36%	7.73%	8.49%
Net Nonoperating Expense Percent (NNEP)	0.71%	2.10%	3.04%	4.28%	1.69%	1.99%	1.69%	1.96%	1.19%	1.29%	0.98%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	12.14%	8.91%	10.42%
Cost of Revenue to Revenue	73.91%	71.07%	69.84%	68.90%	70.25%	70.03%	69.65%	68.42%	69.55%	70.52%	69.27%
SG&A Expenses to Revenue	17.03%	18.99%	20.06%	19.43%	18.85%	19.23%	19.80%	19.54%	19.16%	19.44%	19.48%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	17.03%	18.99%	20.06%	19.43%	18.85%	19.23%	19.80%	19.54%	19.16%	19.44%	19.48%
Earnings before Interest and Taxes (EBIT)	1,316	1,171	1,289	1,548	1,789	1,340	1,422	1,693	1,847	1,316	1,620
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,547	1,403	1,524	1,793	2,041	1,604	1,687	1,959	2,156	1,612	1,928
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	14.49	13.83	14.83	14.35	15.06	14.26	16.37	15.46	16.66	16.92	15.80
Price to Tangible Book Value (P/TBV)	14.71	14.04	15.05	14.55	15.26	14.44	16.58	15.64	16.85	17.11	15.98
Price to Revenue (P/Rev)	1.85	1.77	1.91	1.87	2.03	1.95	2.29	2.24	2.48	2.52	2.42
Price to Earnings (P/E)	26.35	23.37	24.62	23.86	24.58	22.99	26.75	25.95	28.75	29.79	28.17
Dividend Yield	1.44%	1.53%	1.43%	1.46%	1.34%	1.41%	1.22%	1.26%	1.17%	1.16%	1.23%
Earnings Yield	3.79%	4.28%	4.06%	4.19%	4.07%	4.35%	3.74%	3.85%	3.48%	3.36%	3.55%
Enterprise Value to Invested Capital (EV/IC)	21.21	18.32	19.58	17.88	23.49	19.75	23.17	19.70	23.19	20.03	19.50
Enterprise Value to Revenue (EV/Rev)	1.80	1.73	1.88	1.85	1.98	1.91	2.25	2.21	2.44	2.50	2.39
Enterprise Value to EBITDA (EV/EBITDA)	15.67	14.92	15.92	15.41	15.86	15.05	17.55	17.08	18.55	19.22	18.07
Enterprise Value to EBIT (EV/EBIT)	18.53	17.64	18.76	18.14	18.50	17.56	20.50	19.94	21.80	22.70	21.36
Enterprise Value to NOPAT (EV/NOPAT)	24.56	23.16	24.66	24.12	24.67	23.21	27.07	26.36	29.06	30.26	28.42
Enterprise Value to Operating Cash Flow (EV/OCF)	22.05	15.96	15.63	15.38	17.70	17.32	19.73	20.04	22.46	24.68	23.31
Enterprise Value to Free Cash Flow (EV/FCFF)	35.29	23.80	22.88	22.68	26.61	26.42	30.19	32.71	40.79	49.13	43.65
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.53	0.52	0.43	0.42	0.39	0.38	0.37	0.35	0.34	0.34	0.32
Long-Term Debt to Equity	0.45	0.45	0.43	0.42	0.39	0.38	0.37	0.35	0.34	0.34	0.32
Financial Leverage	-0.40	-0.22	-0.16	-0.11	-0.36	-0.28	-0.28	-0.22	-0.33	-0.22	-0.25
Leverage Ratio	4.59	4.69	4.67	4.70	4.25	4.19	4.13	4.18	3.92	3.84	3.81
Compound Leverage Factor	4.67	4.84	4.80	4.83	4.38	4.35	4.27	4.29	4.01	3.93	3.87
Debt to Total Capital	34.55%	34.35%	30.21%	29.51%	28.16%	27.62%	26.90%	25.96%	25.46%	25.22%	24.44%
Short-Term Debt to Total Capital	5.14%	5.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	29.40%	29.24%	30.21%	29.51%	28.16%	27.62%	26.90%	25.96%	25.46%	25.22%	24.44%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	65.45%	65.65%	69.79%	70.49%	71.84%	72.38%	73.10%	74.04%	74.54%	74.78%	75.56%
Debt to EBITDA	0.58	0.58	0.47	0.46	0.42	0.41	0.40	0.39	0.39	0.39	0.37
Net Debt to EBITDA	-0.37	-0.29	-0.28	-0.23	-0.41	-0.32	-0.33	-0.25	-0.33	-0.19	-0.23
Long-Term Debt to EBITDA	0.50	0.49	0.47	0.46	0.42	0.41	0.40	0.39	0.39	0.39	0.37
Debt to NOPAT	0.92	0.89	0.73	0.71	0.66	0.63	0.62	0.61	0.61	0.61	0.59
Net Debt to NOPAT	-0.58	-0.44	-0.43	-0.36	-0.63	-0.49	-0.52	-0.39	-0.52	-0.29	-0.36
Long-Term Debt to NOPAT	0.78	0.76	0.73	0.71	0.66	0.63	0.62	0.61	0.61	0.61	0.59
Altman Z-Score	4.81	4.66	4.93	4.77	5.37	5.31	5.75	5.45	5.98	6.03	5.85
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.21	1.20	1.20	1.19	1.21	1.23	1.21	1.19	1.18	1.16	1.17
Quick Ratio	0.59	0.53	0.49	0.42	0.59	0.55	0.54	0.44	0.53	0.45	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-95	763	1,265	1,414	1,044	483	588	349	6.92	-796	-475
Operating Cash Flow to CapEx	847.34%	206.37%	292.16%	254.57%	633.48%	175.90%	289.34%	247.87%	526.07%	79.28%	388.50%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.76	1.78	1.83	1.78	1.87	1.88	1.87	1.80	1.83	1.85	1.83
Accounts Receivable Turnover	92.39	86.52	92.80	92.53	99.30	97.28	104.07	97.36	104.56	100.34	103.35
Inventory Turnover	6.14	5.41	5.36	4.47	6.44	6.05	5.94	4.72	6.32	5.94	5.81
Fixed Asset Turnover	9.03	8.99	8.87	8.84	8.78	8.77	8.47	8.42	8.10	8.04	7.86
Accounts Payable Turnover	8.75	8.37	8.60	7.13	9.91	9.15	8.68	7.11	9.63	9.34	8.74
Days Sales Outstanding (DSO)	3.95	4.22	3.93	3.94	3.68	3.75	3.51	3.75	3.49	3.64	3.53
Days Inventory Outstanding (DIO)	59.48	67.53	68.08	81.61	56.67	60.30	61.43	77.41	57.79	61.47	62.82
Days Payable Outstanding (DPO)	41.70	43.61	42.45	51.17	36.82	39.90	42.07	51.32	37.88	39.09	41.76
Cash Conversion Cycle (CCC)	21.73	28.13	29.56	34.38	23.53	24.15	22.87	29.84	23.40	26.02	24.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,246	4,757	4,919	5,404	4,564	5,306	5,396	6,320	5,924	7,115	7,094
Invested Capital Turnover	13.54	10.69	10.10	9.46	12.31	10.91	10.78	9.62	10.75	9.18	9.28
Increase / (Decrease) in Invested Capital	1,115	101	-304	-254	318	549	477	916	1,360	1,809	1,698
Enterprise Value (EV)	90,069	87,169	96,327	96,602	107,216	104,784	125,039	124,516	137,392	142,485	138,350
Market Capitalization	92,187	88,834	98,016	98,031	109,954	106,980	127,425	126,369	139,861	143,873	140,122
Book Value per Share	$5.51	$5.57	$5.75	$5.97	$6.41	$6.62	$6.89	$7.25	$7.47	$7.61	$7.95
Tangible Book Value per Share	$5.42	$5.49	$5.67	$5.89	$6.32	$6.54	$6.80	$7.16	$7.38	$7.53	$7.86
Total Capital	9,723	9,782	9,469	9,694	10,164	10,365	10,646	11,038	11,259	11,370	11,733
Total Debt	3,359	3,360	2,861	2,861	2,862	2,863	2,864	2,865	2,866	2,867	2,867
Total Long-Term Debt	2,859	2,860	2,861	2,861	2,862	2,863	2,864	2,865	2,866	2,867	2,867
Net Debt	-2,118	-1,665	-1,689	-1,429	-2,738	-2,196	-2,386	-1,853	-2,469	-1,388	-1,772
Capital Expenditures (CapEx)	357	361	459	460	442	419	563	422	514	497	461
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,826	-2,464	-2,529	-2,124	-3,387	-2,750	-2,981	-2,383	-3,352	-2,487	-2,669
Debt-free Net Working Capital (DFNWC)	2,651	2,561	2,021	2,166	2,213	2,309	2,269	2,335	1,983	1,768	1,970
Net Working Capital (NWC)	2,151	2,061	2,021	2,166	2,213	2,309	2,269	2,335	1,983	1,768	1,970
Net Nonoperating Expense (NNE)	-18	-27	-28	-31	-41	-38	-34	-32	-31	-23	-20
Net Nonoperating Obligations (NNO)	-2,118	-1,665	-1,689	-1,429	-2,738	-2,196	-2,386	-1,853	-2,469	-1,388	-1,772
Total Depreciation and Amortization (D&A)	231	232	235	245	252	264	265	266	309	296	308
Debt-free, Cash-free Net Working Capital to Revenue	-5.66%	-4.90%	-4.94%	-4.06%	-6.25%	-5.01%	-5.36%	-4.22%	-5.95%	-4.36%	-4.61%
Debt-free Net Working Capital to Revenue	5.31%	5.09%	3.95%	4.14%	4.08%	4.20%	4.08%	4.14%	3.52%	3.10%	3.40%
Net Working Capital to Revenue	4.31%	4.10%	3.95%	4.14%	4.08%	4.20%	4.08%	4.14%	3.52%	3.10%	3.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.89	$0.77	$0.86	$1.04	$1.23	$0.95	$0.97	$1.15	$1.24	$0.93	$1.11
Adjusted Weighted Average Basic Shares Outstanding	1.17B	1.15B	1.15B	1.14B	1.15B	1.13B	1.13B	1.13B	1.13B	1.12B	1.12B
Adjusted Diluted Earnings per Share	$0.88	$0.76	$0.85	$1.03	$1.22	$0.93	$0.96	$1.14	$1.23	$0.92	$1.10
Adjusted Weighted Average Diluted Shares Outstanding	1.18B	1.17B	1.16B	1.16B	1.16B	1.15B	1.14B	1.14B	1.14B	1.13B	1.13B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.15B	1.15B	1.14B	1.14B	1.13B	1.13B	1.13B	1.12B	1.12B	1.12B	1.11B
Normalized Net Operating Profit after Tax (NOPAT)	1,020	864	961	1,160	1,362	1,032	1,065	1,265	1,367	1,013	1,223
Normalized NOPAT Margin	7.03%	7.33%	7.53%	8.75%	8.30%	8.27%	7.90%	8.99%	8.36%	7.73%	8.49%
Pre Tax Income Margin	9.22%	10.25%	10.40%	11.98%	11.23%	11.14%	10.90%	12.34%	11.55%	10.27%	11.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	38.28%	36.11%	35.39%	35.19%	33.17%	32.69%	32.79%	32.96%	33.88%	35.03%	35.04%
Augmented Payout Ratio	102.74%	92.40%	85.36%	87.32%	88.69%	86.44%	85.51%	83.45%	85.55%	89.21%	87.09%

Key Financial Trends

TJX Companies Financial Performance and Trends Analysis (2022 - 2026)

Over the past four years, TJX Companies Inc. has shown steady growth in revenue, profitability, and operational cash flow, alongside consistent investment and shareholder returns. Here's a concise summary capturing key financial trends and notable items from the latest four years of quarterly financial data.

Revenue Growth: Operating revenue increased from approximately $11.4 billion in Q1 2023 to over $14.4 billion in Q2 2026, showing a solid upward revenue trajectory, demonstrating business expansion and successful market penetration.
Profitability Improvement: Net income grew from approximately $587 million in Q1 2023 to about $1.24 billion in Q2 2026, indicating improved profitability and operational efficiency.
Strong Gross Profit Margins: Gross profit remained robust, ranging around $3.1-$5.0 billion quarterly over recent years, supporting healthy operating income despite inflationary pressures on cost of revenue.
Consistent Operating Income Growth: Operating income improved steadily, e.g., from $1.17 billion in Q1 2023 to $1.62 billion in Q2 2026, reflecting effective cost management and sales growth.
Healthy Cash Flows from Operations: Operating cash flow increased substantially, reaching $1.79 billion in Q2 2026 compared to $737 million in Q1 2023, signaling strong cash generation to support investments and shareholder returns.
Capital Expenditures: TJX consistently invests in property, plant, and equipment (approx. $300-$500 million quarterly), supporting sustained growth and store/network expansion.
Strong Shareholder Returns: The company regularly repurchases shares (ranging from $450-$850 million quarterly) and pays dividends, with dividends per share increasing modestly from around $0.295 in early 2023 to $0.425 in mid-2026, indicating commitment to returning capital.

Balance Sheet Stability: Total assets increased from about $27.7 billion in early 2023 to approximately $32.9 billion in mid-2026. Total liabilities also grew proportionally, maintaining financial leverage levels. Cash and equivalents fluctuated but remain strong, e.g., $4.6 billion in Q2 2026.
Debt Levels: Long-term debt modestly decreased from approximately $3.35 billion in early 2023 to about $2.87 billion in Q2 2026, reflecting manageable leverage and active debt repayment strategies.
Working Capital Management: Inventories increased consistent with sales growth, from approx. $6.99 billion in Q1 2023 to $7.37 billion in Q2 2026, noting typical retail stock buildup. Accounts payable and accrued expenses also grew, reflecting normal operational scaling.

Increased Operating Cost of Revenue: The cost of revenue increased in line with sales, from around $8.22 billion in Q1 2023 to nearly $10 billion in Q2 2026, which may pressure margins if not offset by pricing or efficiency gains.
Reductions in Operating Cash Flow in Early 2024: Operating cash flow was negative in Q1 2024 (-$634 million), a notable dip compared to other quarters, mainly due to significant negative changes in operating assets/liabilities, which may indicate temporary working capital challenges.
Exchange Rate Impact Volatility: Foreign exchange rate effects on cash flows fluctuated quarter to quarter, contributing both positively and negatively; this exposure could introduce volatility in reported earnings.
Declining Accumulated Other Comprehensive Income: The company's accumulated other comprehensive income (loss) has persisted as a negative balance, with values shrinking from about -$829 million in 2024 to around -$445 million in 2026, though showing some improvement.

Summary: TJX Companies have displayed strong revenue and profit growth over the last four years, solid operating cash flow improvements, and ongoing investment in their business. They uphold consistent shareholder distributions through dividends and share buybacks. Some temporary cash flow volatility and increased costs are present but offset by operational gains. The company's financial health appears solid with steady asset growth, stable debt levels, and improving equity position.

Investors should monitor future cost pressures and working capital management, but the overall financial trends suggest a well-managed retail enterprise with strong cash generation and shareholder-friendly capital return policies.

09/15/25 10:04 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About TJX Companies' Financials

When does TJX Companies' fiscal year end?

According to the most recent income statement we have on file, TJX Companies' financial year ends in February. Their financial year 2025 ended on February 1, 2025.

How has TJX Companies' net income changed over the last 10 years?

TJX Companies' net income appears to be on an upward trend, with a most recent value of $4.86 billion in 2025, rising from $2.22 billion in 2015. The previous period was $4.47 billion in 2024. See TJX Companies' forecast for analyst expectations on what’s next for the company.

What is TJX Companies' operating income?

TJX Companies' total operating income in 2025 was $6.30 billion, based on the following breakdown:

Total Gross Profit: $17.25 billion
Total Operating Expenses: $10.95 billion

How has TJX Companies' revenue changed over the last 10 years?

Over the last 10 years, TJX Companies' total revenue changed from $29.08 billion in 2015 to $56.36 billion in 2025, a change of 93.8%.

How much debt does TJX Companies have?

TJX Companies' total liabilities were at $23.36 billion at the end of 2025, a 4.1% increase from 2024, and a 247.3% increase since 2015.

How much cash does TJX Companies have?

In the past 10 years, TJX Companies' cash and equivalents has ranged from $2.10 billion in 2016 to $10.47 billion in 2021, and is currently $5.34 billion as of their latest financial filing in 2025.

How has TJX Companies' book value per share changed over the last 10 years?

Over the last 10 years, TJX Companies' book value per share changed from 6.19 in 2015 to 7.47 in 2025, a change of 20.6%.

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This page (NYSE:TJX) was last updated on 9/15/2025 by MarketBeat.com Staff

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TJX Companies (TJX) Financials

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TJX Companies (TJX) Financials

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