Financial 8-10 pg paper

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Target Corp (NYS: TGT)

General Company Information

Principal Office

Website

1000 Nicollet Mall Minneapolis, MN 55403 USA

www.target.com

Phone

Primary NAICS

612 304-6073

452990 : All Other General Merchandise Stores

Fax

Closing Stock Price

612 370-5502

59.42 (as of 04/14/2014)

Auditor

Incorporated

Ernst & Young LLP

1902 , MN, United States

Number of Employees

Mergent Dividend Achiever

366,000 (Year End Average Staff as of 02/01/2014)

Yes, # of Years: 37

Country

Number of Shareholders

United States

15,875 (as of 03/10/2014)

Exchange and Ticker

Annual Meeting

NYS : TGT

In June

Primary SIC

5331 : Variety stores

Business Summary

Target operates three segments. Co.'s U.S. Retail segment includes all of its merchandising operations. Co.'s U.S. Credit Card segment provides credit to its customers through its credit cards, the Target Credit Card and Target Visa, as well as the Target Debit Card. Co.'s Canadian segment includes costs incurred in the U.S. and Canada related to its Canadian retail market entry. Co. sells an assortment of general merchandise and food in its stores. Co.'s merchamdise product category includes household products, hardlines, apparel and accessories, food and pet supplies, and home furnishings and decor. As of Feb 2 2013, Co. had 1,778 stores in 49 states and the District of Columbia.

Company Details

Financial Highlights

Financial Highlights as of 02/01/2014 in USD

Income Statement

(In Thousands)

Total Revenue

72,596,000

EBITDA

6,427,000

Operating Income

3,838,000

Net Income

1,971,000

Revenue per Share

114.62

EPS from Continuing Operations

3.07

EPS - Net Income - Diluted

3.07

Share Outstanding

632,931

Weighted Average Shares Outstanding - Basic

635,100

Weighted Average Shares Outstanding - Diluted

641,800

Earnings per Share - Basic

3.10

Balance Sheet

(In Thousands)

Total Assets

44,553,000

Current Assets

11,573,000

Total Liabilities

28,322,000

Long Term Debt

12,622,000

Stockholders' Equity

16,231,000

Total Assets per Share

70.39

Current Liabilities

12,777,000

Net Assets per Share

25.64

Cash Flow Statement

(In Thousands)

Cash from Operations

6,520,000

Cash from Investing

(271,000)

Cash from Financing

(6,364,000)

Capital Expenditures

3,367,000

Cash Flow per Share

10.16

Cash & Cash Equivalents, Beginning of Year

784,000

Cash & Cash Equivalents, End of Year

695,000

Stock Price and Valuation (Data as of 04/14/2014)

Market Cap(mil)

37,623

Share Outstanding(000's)

633,175

PE Ratio

19.355

Dividend Per Share(TTM)

1.65

Earning Per Share(TTM)

3.1

Last Closing Price

59.42

Previous Trading Day Range

58.94 - 59.49

52 Week Range

55.07 - 73.32

7 Day Average Closing Price

60.20

30 Day Average Closing Price

60.07

200 Day Average Closing Price

61.62

Beta

0.90

High Price Last 3 Mos.

62.54

Low Price Last 3 Mos.

55.07

Avg Daily Volume Last 3 Mos.

6,359,190.48

Management Effectiveness

Revenue per Employee

198,895

Net Income per Employee

5,400.00

ROA % (Net)

4.26

ROE % (Net)

12.06

ROI % (Operating)

11.99

Profitability Ratios

Gross Margin

29.53

Operating Margin

5.29

EBITDA Margin %

8.85

Calculated Tax Rate %

36.48

Profit Margin (TTM)

2.72

Valuation Ratios

Price/Earnings (TTM)

18.22

Price/Book (TTM)

2.21

Price/Cash Flow(TTM)

5.50

Asset Management

Total Asset Turnover

1.57

Receivables Turnover

17.75

Inventory Turnover

6.14

Property Plant & Equip Turnover

2.35

Cash & Equivalents Turnover

98.44

Debt Management

Interest Coverage

3.41

Long Term Debt/Equity

0.78

Long Term Debt as % of Invested Capital

42.06

Total Debt/Equity

0.85

Accounts Payable Turnover

9.88

Accrued Expenses Turnover

28.02

Liquidity Indicators

Quick Ratio

0.16

Current Ratio

0.91

Net Current Assets as % of Total Assets

(2.70)

Free Cash Flow per Share

4.98

Revenue to Assets

1.63

Consensus Estimates

2014Ae

2014Q1e

2014Q2e

Earnings Per Share

3.17

0.80

0.90

Revenue

72,606.51

21,498.00

17,367.50

EBITDA

6,155.88

1,558.74

1,542.00

Long Term Debt

Feb. 1, 2014, $13,649,000,000 (including current portion of $1,080,000,000 and excluding swap valuation adjustments of $53,000,000) comprised of:

-- 01 -- $4,232,000,000 notes and debentures, with a weighted average state interest rate of 4.5% as of Feb. 1, 2014, due from 2014 to 2018.

-- 02 -- $2,215,000,000 notes and debentures, with a weighted average state interest rate of 4.0% as of Feb. 1, 2014, due from 2019 to 2023.

-- 03 -- $252,000,000 notes and debentures, with a weighted average state interest rate of 6.7% as of Feb. 1, 2014, due from 2024 to 2028.

-- 04 -- $769,000,000 notes and debentures, with a weighted average state interest rate of 6.5% as of Feb. 1, 2014, due from 2029 to 2033.

-- 05 -- $2,740,000,000 notes and debentures, with a weighted average state interest rate of 6.8% as of Feb. 1, 2014, due from 2034 to 2038.

-- 06 -- $1,470,000,000 notes and debentures, with a weighted average state interest rate of 4.0% as of Feb. 1, 2014, due from 2039 to 2043.

-- 07 -- $1,971,000,000 capital lease obligations.

Line of Credit: In Oct. 2011, Co. entered into a five-year $2,250,000,000 revolving credit facility that expires in Oct. 2018. No balances were outstanding at any time during 2013.

For details see below.

Expanded Long Term Debt

CUSIP

Issuer Name

Issue Description

Ticker

Coupon

239753AD8

TARGET CORPORATION

TGT

15.25

239753AT3

TARGET CORPORATION

TGT

7.5

239753AY2

TARGET CORPORATION

TGT

9.625

239753AA4

TARGET CORPORATION

DEB

TGT

7.75

239753AB2

TARGET CORPORATION

DEB

TGT

9.75

239753AM8

TARGET CORPORATION

TGT

7.875

239753AN6

TARGET CORPORATION

TGT

8.375

239753AZ9

TARGET CORPORATION

TGT

9.75

239753BT2

TARGET CORPORATION

TGT

7.5

239753BD7

TARGET CORPORATION

TGT

239753BF2

TARGET CORPORATION

TGT

9.4

23975HAY1

TARGET CORPORATION

MTN FLTG RT SER I

TGT

4.16

23975HAX3

TARGET CORPORATION

MTN FLTG RT SER I

TGT

4.88

23975HAZ8

TARGET CORPORATION

MTN FLTG RT SER I

TGT

3.97

239753DA1

TARGET CORPORATION

TGT

6.8

239753BB1

TARGET CORPORATION

TGT

9.75

87612FAA1

TARGET CORPORATION

MTN FLTG RT SER I

TGT

1.90875

239753CF1

TARGET CORPORATION

TGT

6.4

239753BQ8

TARGET CORPORATION

TGT

6.625

239753BN5

TARGET CORPORATION

TGT

7.25

87612EAA4

TARGET CORPORATION

TGT

7.5

239753AC0

TARGET CORPORATION

DEB

TGT

10.875

239753AK2

TARGET CORPORATION

DEB

TGT

9.25

87612EAE6

TARGET CORPORATION

TGT

5.95

239753CY0

TARGET CORPORATION

TGT

7.5

87612EAD8

TARGET CORPORATION

TGT

5.5

239753AW6

TARGET CORPORATION

DEB

TGT

9.625

87612EAL0

TARGET CORPORATION

TGT

3.375

87612EAG1

TARGET CORPORATION

TGT

5.4

239753DM5

TARGET CORPORATION

TGT

5.875

87612EAJ5

TARGET CORPORATION

TGT

5.375

87612EAQ9

TARGET CORPORATION

GLOBAL NT FLTG RT

TGT

5.485

239753CP9

TARGET CORPORATION

MTN

TGT

10.03

239753DK9

TARGET CORPORATION

PURS

TGT

87612EAB2

TARGET CORPORATION

TGT

7.5

239753BE5

TARGET CORPORATION

TGT

87612EAC0

TARGET CORPORATION

TGT

6.35

239753BH8

TARGET CORPORATION

DEB

TGT

9.25

239753BK1

TARGET CORPORATION

DEB

TGT

8.6

87612EAH9

TARGET CORPORATION

TGT

5.875

239753AE6

TARGET CORPORATION

DEB

TGT

14.75

239753AF3

TARGET CORPORATION

DEB

TGT

11.875

87612EAT3

TARGET CORP

GLOBAL NT

TGT

239753AG1

TARGET CORPORATION

DEB

TGT

10.75

87612EAM8

TARGET CORPORATION

GLOBAL NT

TGT

239753AH9

TARGET CORPORATION

DEB

TGT

239753CJ3

TARGET CORPORATION

MTN SER D

TGT

9.52

239753BZ8

TARGET CORPORATION

MTN SER D

TGT

9.5

239753AJ5

TARGET CORPORATION

DEB

TGT

11.25

87612EAN6

TARGET CORPORATION

TGT

5.875

239753AP1

TARGET CORPORATION

DEB

TGT

9.5

239753AQ9

TARGET CORPORATION

DEB

TGT

9.25

87612EAP1

TARGET CORPORATION

TGT

5.375

239753AR7

TARGET CORPORATION

DEB

TGT

9.875

87612EAS5

TARGET CORP

GLOBAL NT

TGT

87612FAB9

TARGET CORPORATION

MTN SER I

TGT

4.875

239753BU9

TARGET CORPORATION

MTN

TGT

9.35

239753BC9

TARGET CORPORATION

DEB

TGT

9.875

239753BG0

TARGET CORPORATION

DEB

TGT

9.7

239753BJ4

TARGET CORPORATION

DEB

TGT

239753BL9

TARGET CORPORATION

DEB

TGT

8.875

239753BM7

TARGET CORPORATION

DEB

TGT

8.8

239753BP0

TARGET CORPORATION

DEB

TGT

8.5

239753BR6

TARGET CORPORATION

DEB

TGT

7.875

239753BS4

TARGET CORPORATION

DEB

TGT

7.65

23975HAW5

TARGET CORPORATION

MTN

TGT

5.865

239753DJ2

TARGET CORPORATION

DEB

TGT

6.75

239753DL7

TARGET CORPORATION

DEB

TGT

6.65

87612EAF3

TARGET CORPORATION

DEB

TGT

87612EAK2

TARGET CORPORATION

DEB

TGT

6.35

239753DF0

TARGET CORPORATION

DEB

TGT

5.895

87612EAR7

TARGET CORP

GLOBAL NT

TGT

87612EAU0

TARGET CORP

GLOBAL NT

TGT

CUSIP

Maturity

Active

239753AD8

11/15/1991

239753AT3

01/15/1992

239753AY2

09/15/1993

239753AA4

07/15/1994

239753AB2

06/01/1995

239753AM8

04/01/1996

239753AN6

10/01/1996

239753AZ9

11/01/1998

239753BT2

03/01/1999

239753BD7

12/01/2000

239753BF2

02/15/2001

23975HAY1

07/16/2001

23975HAX3

07/16/2001

23975HAZ8

09/17/2001

239753DA1

10/01/2001

239753BB1

07/01/2002

87612FAA1

12/04/2002

239753CF1

02/15/2003

239753BQ8

03/01/2003

239753BN5

09/01/2004

87612EAA4

02/15/2005

239753AC0

05/15/2005

239753AK2

03/01/2006

87612EAE6

05/15/2006

239753CY0

07/15/2006

87612EAD8

04/01/2007

239753AW6

02/01/2008

87612EAL0

03/01/2008

87612EAG1

10/01/2008

239753DM5

11/01/2008

87612EAJ5

06/15/2009

87612EAQ9

08/07/2009

239753CP9

06/10/2010

239753DK9

06/15/2010

87612EAB2

08/15/2010

239753BE5

01/01/2011

87612EAC0

01/15/2011

239753BH8

08/15/2011

239753BK1

01/15/2012

87612EAH9

03/01/2012

239753AE6

06/01/2012

239753AF3

10/15/2012

87612EAT3

01/15/2013

239753AG1

05/01/2013

87612EAM8

06/15/2013

239753AH9

04/15/2015

239753CJ3

06/10/2015

Yes

239753BZ8

06/10/2015

Yes

239753AJ5

11/15/2015

87612EAN6

07/15/2016

Yes

239753AP1

10/15/2016

239753AQ9

11/15/2016

87612EAP1

05/01/2017

Yes

239753AR7

06/01/2017

87612EAS5

01/15/2018

Yes

87612FAB9

05/15/2018

Yes

239753BU9

06/16/2020

Yes

239753BC9

07/01/2020

Yes

239753BG0

06/15/2021

Yes

239753BJ4

10/01/2021

Yes

239753BL9

04/01/2022

Yes

239753BM7

05/15/2022

Yes

239753BP0

12/01/2022

239753BR6

06/15/2023

239753BS4

08/01/2023

23975HAW5

08/15/2027

239753DJ2

01/01/2028

Yes

239753DL7

08/01/2028

Yes

87612EAF3

07/15/2031

Yes

87612EAK2

11/01/2032

Yes

239753DF0

06/15/2037

87612EAR7

10/15/2037

Yes

87612EAU0

01/15/2038

Yes

Capital Structure

Abbreviation

Description

Structure Type

Exchange

Ticker

Com

Common

NYS

TGT

Abbreviation

Market Cap

Com

37,623,258,500

Pricing Information

52 Week Range

55.07 - 73.32

% Price Change (100 Days)

-6.41