TJX Companies (TJX) Financials

TJX Companies Financial Overview (Q1 2023 - Q1 2026):

TJX Companies has exhibited a generally stable financial performance across the last four years, with key metrics indicating growth and sound financial management, though facing some headwinds in cash flows and equity changes.

• Consistent growth in consolidated net income with a notable increase from $587 million in Q1 2023 to $1.036 billion in Q1 2026, signaling improved profitability.
• Increasing operating revenues, from approximately $11.4 billion in Q1 2023 to over $13.1 billion by Q1 2026, reflecting steady sales expansion.
• Gross profit has increased over the years, driven by revenue growth and effective cost management, with total gross profit rising from around $3.18 billion in Q1 2023 to $3.87 billion in Q1 2026.
• TJX maintains strong liquidity with cash and equivalents increasing notably over the period, from about $4.3 billion in Q1 2023 to $4.25 billion in Q1 2026, despite fluctuations.
• Steady dividends payouts with cash dividends per share climbing slowly from $0.295 in early 2023 to $0.425 by Q1 2026, indicating shareholder returns are a priority.
• Repurchases of common equity have been substantial each quarter, with significant buybacks contributing to shareholder value.
• Operating cash flows have been positive but variable. For instance, Q1 2026 shows $394 million net cash from operating activities, down from peaks of about $2.7 billion in Q4 2025, indicating some operational cash flow volatility.
• Capital expenditures have been consistently around $350-$560 million quarterly, reflecting ongoing investments in property and equipment to support business operations.
• Operating assets and liabilities changes presented notable volatility, with large swings impacting cash flow, e.g., a $971 million negative net change in Q1 2026 operating capital.
• TJX’s total liabilities have increased modestly, reaching approximately $23.35 billion in Q1 2026 from around $21.15 billion in early 2023, which raises caution on leverage trends, especially with noncurrent liabilities.

Summary: TJX Companies shows a trajectory of increasing revenues and net income, with improving liquidity and consistent shareholder returns through dividends and buybacks. The company actively invests in property and equipment, supporting business growth. However, there are fluctuations in operating cash flow and working capital changes, which may impact short-term financial stability. Moderate increases in liabilities suggest increased leverage, which investors should monitor. Overall, the fundamentals remain strong with positive earnings growth and operational investments supporting the firm’s ongoing expansion.