The TJX Companies, Inc. TJX

Consumer DiscretionaryDiversified RetailUnited States of America

Last close 141.00 USD on Nov 2, 2026, −7.4% year to date

Quant rating

Quant rating A+ Rank 5 of 344 in Consumer Discretionary

Growth B 132 of 344
Valuation B 228 of 344
Quality A 4 of 344
Revisions B 163 of 344
Momentum B 179 of 344

Wall Street consensus Buy (1.96)Average target 169.86 USD +20.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 155.1B
Enterprise value: 152.0B
52-week range: 122.78 – 170.00
3-year range: 88.00 – 170.00
Dividend yield: 1.37%
Beta (5 years): 0.59
Shares outstanding: 1,100M
Next earnings: Nov 18, 2026

About the company

The TJX Companies, Inc. is an off-price apparel and home fashions retailer in the United States (U.S.) and worldwide. The Company's segments include Marmaxx and HomeGoods, both in the U.S., TJX Canada and TJX International, including Europe and Australia. The TJ Maxx and Marshalls chains sell family apparel, including footwear and accessories, home fashions, including home basics, decorative accessories, and giftware and other merchandise. The HomeGoods segment operates HomeGoods and Homesense chains. HomeGoods offers an eclectic assortment of home fashions, including furniture, rugs, lighting, soft home, decorative accessories, tabletop, and cookware, as well as expanded pet and gourmet food departments. The TJX Canada segment operates the Winners, HomeSense and Marshalls chains in Canada, offering a range of home decor, furniture, and seasonal home merchandise. The TJX International segment operates the TK Maxx and Homesense chains in Europe and the TK Maxx chain in Australia.

Growth and profitability fiscal year ends January 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	60,372	56,360	54,217	49,936	48,550	–
Revenue growth	7.1%	4.0%	8.6%	2.9%	51.1%	13.4%
EPS (basic, normalized)	4.73	4.26	3.86	3.11	2.85	–
EPS growth	11.0%	10.4%	24.1%	9.1%	–	–
Gross margin	37.3%	37.1%	36.5%	34.2%	35.3%	36.1%
Net margin	9.1%	8.6%	8.3%	7.0%	6.8%	7.9%
ROE	59.1%	62.0%	65.5%	56.6%	55.5%	59.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	6,004
Current ratio	1.15x
Long-term debt (mil)	1,871
Net debt (mil)	−3,133
Total equity (mil)	10,651
Net debt / equity	−0.29x
Net debt / EBITDA	−0.38x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	60,372	+7.1%	2.5x	8,204	+12.8%	18.5x	4.73	+11.0%	29.8x
2027	64,016	+6.0%	2.4x	8,979	+9.4%	16.9x	5.23	+10.6%	26.9x
2028	68,280	+6.7%	2.2x	9,782	+8.9%	15.5x	5.74	+9.7%	24.6x
2029	72,996	+6.9%	2.1x	10,784	+10.2%	14.1x	6.42	+11.8%	22.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	64,016	0.0%	−0.2%	+0.3%	5.23	0.0%	+0.1%	+2.4%
2028	68,280	0.0%	+0.6%	+1.1%	5.74	−0.2%	−0.3%	+1.2%
2029	72,996	0.0%	+0.6%	+1.2%	6.42	+0.3%	+1.2%	+3.8%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Apr 2024	Jul 2024	Oct 2024	Jan 2025	Apr 2025	Jul 2025	Oct 2025	Jan 2026	Apr 2026	Jul 2026
Sales reported (mil)	12,479	13,468	14,063	16,350	13,111	14,401	15,117	17,743	14,323	15,180
Sales mean (mil)	12,463	13,313	13,949	16,200	13,014	14,126	14,853	17,358	14,006	15,163
Surprise	+0.1%	+1.2%	+0.8%	+0.9%	+0.7%	+1.9%	+1.8%	+2.2%	+2.3%	+0.1%
EPS reported	0.93	0.96	1.14	1.23	0.92	1.10	1.28	1.43	1.19	1.22
EPS mean	0.87	0.92	1.09	1.16	0.91	1.01	1.22	1.39	1.02	1.19
Surprise	+6.9%	+4.2%	+4.3%	+5.8%	+1.6%	+8.5%	+4.7%	+2.9%	+17.1%	+2.6%

Peer comparison Diversified Retail

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
TJX The TJX Companies, Inc.	155.1B	−0.38x	9.1%	14.58x	26.9x	24.6x	16.9x	15.5x
COST Costco Wholesale Corp	461.1B	−1.05x	3.0%	12.88x	45.6x	41.6x	27.7x	25.4x
TGT Target Corp	72.0B	1.26x	3.5%	4.03x	15.1x	16.6x	8.4x	8.9x
DG Dollar General Corp	30.0B	0.92x	3.5%	3.22x	17.2x	16.3x	9.2x	8.8x
DLTR Dollar Tree Inc	26.0B	0.81x	6.3%	7.59x	17.5x	17.6x	10.0x	10.0x
BJ BJ's Wholesale Club Holdings, Inc.	14.0B	0.52x	2.7%	6.37x	23.5x	22.0x	11.8x	11.2x
Mean		0.34x	4.7%	8.11x	24.3x	23.1x	14.0x	13.3x
Median		0.66x	3.5%	6.98x	20.5x	19.8x	10.9x	10.6x

Technical analysis

1M+6.3%
3M−10.1%
1Y+1.8%
3Y+63.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, The TJX Companies, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	60,372	56,360	54,217	49,936	48,550	32,137
Cost of revenue	37,865	35,456	34,446	32,863	31,421	21,550
Gross profit	22,507	20,904	19,771	17,073	17,129	10,587
Selling, general & administrative expenses	15,329	14,602	13,974	12,213	12,374	10,004
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	0	0	218	242	312
Other operating expenses	0	0	0	0	0	0
Operating income	7,178	6,302	5,797	4,642	4,513	270
Net interest income (expense)	121	181	170	−6.0	−115	−181
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	7,299	6,483	5,967	4,636	4,398	89.3
Provision for taxes	1,805	1,619	1,493	1,138	1,115	−1.2
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	5,494	4,864	4,474	3,498	3,283	90.5
Extraordinary items	–	–	–	–	–	–
Net income	5,494	4,864	4,474	3,498	3,283	90.5
EBIT, normalized	7,178	6,302	5,797	4,860	4,755	1,082
EBITDA, normalized	8,425	7,406	6,761	5,747	5,623	1,953
Basic EPS, normalized	4.73	4.26	3.86	3.11	2.85	–

Balance sheet in millions of USD, fiscal years

Balance sheet, The TJX Companies, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	6,230	5,335	5,600	5,477	6,227	10,470
Receivables	610	618	588	682	632	497
Total inventory	7,297	6,421	5,965	5,819	5,962	4,337
Prepaid expenses	1,065	617	511	478	438	435
Other current assets	0	0	0	0	0	0
Total current assets	15,202	12,991	12,664	12,456	13,259	15,739
Property, plant & equipment	18,550	16,987	15,967	14,869	14,125	14,026
Goodwill	96.0	94.0	95.0	97.0	96.7	99.0
Intangibles	–	–	–	–	–	–
Long-term investments	–	–	–	–	0.2	196
Note receivable	–	–	–	–	–	–
Other long-term assets	1,919	1,677	1,021	927	981	753
Total assets	35,767	31,749	29,747	28,349	28,461	30,814
Liabilities
Accounts payable	4,575	4,257	3,862	3,794	4,465	4,823
Payable/accrued	–	–	–	–	–	–
Accrued expenses	5,307	4,691	4,708	4,260	4,231	3,719
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	999	–	0	500	0	750
Other current liabilities	2,480	2,060	1,881	1,751	1,772	1,511
Total current liabilities	13,361	11,008	10,451	10,305	10,468	10,804
Long-term debt	1,870	2,866	2,862	2,859	3,355	5,333
Minority interest	–	–	–	–	–	–
Other liabilities	10,346	9,482	9,132	8,821	8,635	8,844
Total liabilities	25,577	23,356	22,445	21,985	22,458	24,981
Shareholders' equity
Preferred stock	0	0	0	–	–	0
Common stock	1,107	1,119	1,134	1,155	1,181	1,205
Additional paid-in capital	0	0	0	0	0	261
Retained earnings (accumulated deficit)	9,434	7,883	6,700	5,815	5,509	4,974
Treasury stock	–	–	–	–	–	–
Other equity	−351	−609	−532	−606	−687	−606
Total equity	10,190	8,393	7,302	6,364	6,003	5,833
Total liabilities & shareholders' equity	35,767	31,749	29,747	28,349	28,461	30,814

Cash flow statement in millions of USD, fiscal years

Cash flow statement, The TJX Companies, Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	5,494	4,864	4,474	3,498	3,283	90.5
Depreciation, depletion & amortization	1,247	1,104	964	887	868	871
Deferred taxes	112	28.0	−7.0	64.0	−44.5	−231
Non-cash items	235	193	221	363	440	455
Changes in working capital	−214	−73.0	405	−728	−1,489	3,377
Cash from operations	6,874	6,116	6,057	4,084	3,057	4,562
Investing activities
Capital expenditures	−1,957	−1,918	−1,722	−1,457	−1,045	−568
Other investing cash flows	−24.0	−559	5.0	−13.0	−1.6	−10.6
Cash from investing	−1,981	−2,477	−1,717	−1,470	−1,046	−579
Financing activities
Financing cash flow items	−65.0	−43.0	−32.0	−33.0	−25.5	−71.7
Cash dividends paid	−1,842	−1,648	−1,484	−1,339	−1,252	−278
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−2,211	−2,147	−2,699	−1,934	−4,922	3,578
Cash from financing	−4,118	−3,838	−4,215	−3,306	−6,200	3,228
Foreign exchange effects	120	−66.0	−2.0	−58.0	−54.1	41.3
Net change in cash	895	−265	123	−750	−4,243	7,253
Free cash flow	4,917	4,198	4,335	2,627	2,013	3,994

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.