TGT - Comprehensive Filing Intelligence

Q4 2026•10-Q•Filed Nov 26, 2025
6.0/10
Filing Health:GOOD

Solid fundamentals with minor concerns to monitor

Executive Summary

Revenue and operating income declined year-over-year, primarily impacted by lower traffic, higher markdowns, and business transformation costs.. Gross margins saw a slight decline due to increased merchandising costs, partially offset by lower supply chain expenses and improved inventory shrink.. Securities class action lawsuit filed regarding ESG disclosures and oversight.. Net sales decreased 1.5%

Top Concerns

  • !Revenue and operating income declined year-over-year, primarily impacted by lower traffic, higher markdowns, and business transformation costs.
  • !Gross margins saw a slight decline due to increased merchandising costs, partially offset by lower supply chain expenses and improved inventory shrink.
  • !Non-recurring impairment charges in multiple periods could indicate underlying business issues.
  • !Securities class action lawsuit filed regarding ESG disclosures and oversight.
  • !Long-term debt stands at $14,396 million, with derivative use to manage interest rate risk.

Analysis Dimensions

Our 5-pass AI analysis examines this filing across multiple dimensions. Each dimension score is derived from direct analysis of SEC filing text.

Narrative Intelligence

7.0/10

Management tone is balanced with focus on merchandising, primarily due to higher markdown rates partially offset by growth in advertising and other revenues.

Full analysis includes: tone changes vs prior quarter, margin driver breakdown, forward guidance analysis, strategic priorities.

Accounting Quality

7.0/10

Earnings quality shows moderate accounting practices.

Full analysis includes: reserve and allowance changes, non-recurring item analysis, stock-based compensation impact, disclosure concerns.

Hidden Liabilities

Off-balance sheet risk is low with N/A in identified exposure.

Full analysis includes: cloud and purchase commitments, VIE/SPE exposure, covenant compliance status, refinancing risk assessment.

Risk Landscape

4.0/10

Overall risk profile shows tariffs and supply chain disruption as primary concern.

Full analysis includes: 8 risk categories with severity, new vs escalated risks, management response assessment, risk trend analysis.

Segment Performance

4.0/10

Segment health analysis.

Full analysis includes: segment-by-segment revenue breakdown, geographic concentration risk, customer concentration analysis, segment margin trends.