TGT has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
TGT has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Target's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Target was -2.29. The lowest was -3.48. And the median was -2.82.
The historical data trend for Target's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Target Annual Data | |||||||||||||||||||||
Trend | Jan15 | Jan16 | Jan17 | Jan18 | Jan19 | Jan20 | Jan21 | Jan22 | Jan23 | Jan24 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | -3.01 | -2.92 | -2.49 | -2.31 | -3.06 |
Target Quarterly Data | ||||||||||||||||||||
Oct19 | Jan20 | Apr20 | Jul20 | Oct20 | Jan21 | Apr21 | Jul21 | Oct21 | Jan22 | Apr22 | Jul22 | Oct22 | Jan23 | Apr23 | Jul23 | Oct23 | Jan24 | Apr24 | Jul24 | |
Beneish M-Score | Get a 7-Day Free Trial | -2.91 | -3.03 | -3.06 | -2.93 | -2.85 |
For the Discount Stores subindustry, Target's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Retail - Defensive industry and Consumer Defensive sector, Target's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Target's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Target for today is based on a combination of the following eight different indices:
M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
= | -4.84 | + | 0.92 * 1 | + | 0.528 * 0.9185 | + | 0.404 * 1.048 | + | 0.892 * 0.9934 | + | 0.115 * 0.9593 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.0449 | + | 4.679 * -0.074596 | - | 0.327 * 0.9509 | |||||||
= | -2.85 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Jul24) TTM: | Last Year (Jul23) TTM: |
Total Receivables was $0 Mil. Revenue was 25452 + 24531 + 31919 + 25398 = $107,300 Mil. Gross Profit was 7653 + 7082 + 8516 + 7249 = $30,500 Mil. Total Current Assets was $17,918 Mil. Total Assets was $55,995 Mil. Property, Plant and Equipment(Net PPE) was $36,620 Mil. Depreciation, Depletion and Amortization(DDA) was $2,912 Mil. Selling, General, & Admin. Expense(SGA) was $21,905 Mil. Total Current Liabilities was $19,984 Mil. Long-Term Debt & Capital Lease Obligation was $17,098 Mil. Net Income was 1192 + 942 + 1382 + 971 = $4,487 Mil. Non Operating Income was 20 + 29 + 28 + 25 = $102 Mil. Cash Flow from Operations was 2238 + 1101 + 3289 + 1934 = $8,562 Mil. |
Total Receivables was $0 Mil. Revenue was 24773 + 25322 + 31395 + 26518 = $108,008 Mil. Gross Profit was 6975 + 6936 + 7449 + 6838 = $28,198 Mil. Total Current Assets was $16,098 Mil. Total Assets was $53,206 Mil. Property, Plant and Equipment(Net PPE) was $35,787 Mil. Depreciation, Depletion and Amortization(DDA) was $2,721 Mil. Selling, General, & Admin. Expense(SGA) was $21,103 Mil. Total Current Liabilities was $19,332 Mil. Long-Term Debt & Capital Lease Obligation was $17,724 Mil. |
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
= | (0 / 107300) | / | (0 / 108008) | |
= | 0 | / | 0 | |
= | 1 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
= | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) | |
= | (28198 / 108008) | / | (30500 / 107300) | |
= | 0.261073 | / | 0.28425 | |
= | 0.9185 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
= | (1 - (17918 + 36620) / 55995) | / | (1 - (16098 + 35787) / 53206) | |
= | 0.02602 | / | 0.024828 | |
= | 1.048 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
SGI | = | Sales_t | / | Sales_t-1 |
= | Revenue_t | / | Revenue_t-1 | |
= | 107300 | / | 108008 | |
= | 0.9934 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
= | (2721 / (2721 + 35787)) | / | (2912 / (2912 + 36620)) | |
= | 0.070661 | / | 0.073662 | |
= | 0.9593 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
= | (21905 / 107300) | / | (21103 / 108008) | |
= | 0.204147 | / | 0.195384 | |
= | 1.0449 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
= | ((17098 + 19984) / 55995) | / | ((17724 + 19332) / 53206) | |
= | 0.662238 | / | 0.696463 | |
= | 0.9509 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
= | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t | |
= | (4487 - 102 | - | 8562) | / | 55995 | |
= | -0.074596 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Target has a M-score of -2.85 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Target's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Matthew A Liegel | officer: Chief Accounting Officer | 1000 NICOLLET MALL, MINNEAPOLIS MN 55403 |
Brian C Cornell | director, officer: Executive Officer | 1000 NICOLLET MALL, MINNEAPOLIS MN 55403 |
Don H Liu | officer: Executive Officer | 1000 NICOLLET MALL, TPS-3155, MINNEAPOLIS MN 55403 |
Christina Hennington | officer: Executive Officer | 1000 NICOLLET MALL, MINNEAPOLIS MN 55403 |
Melissa K Kremer | officer: Executive Officer | 1000 NICOLLET MALL, MINNEAPOLIS MN 55403 |
Cara A Sylvester | officer: Executive Officer | 1000 NICOLLET MALL, MINNEAPOLIS MN 55403 |
Matthew L Zabel | officer: Executive Officer | 1000 NICOLLET MALL, TPS-3155, MINNEAPOLIS MN 55403 |
Michael J Fiddelke | officer: Executive Officer | 1000 NICOLLET MALL, MINNEAPOLIS MN 55403 |
John J Mulligan | officer: Executive Officer | 1000 NICOLLET MALL, TPS-2672, MINNEAPOLIS MN 55403 |
Grace Puma Whiteford | director | C/O WILLIAM SONOMA, INC., 3250 VAN NESS AVENUE, SAN FRANCISCO CA 94109 |
Jill Sando | officer: Executive Officer | 1000 NICOLLET MALL, MINNEAPOLIS MN 55403 |
Katie M Boylan | officer: Executive Officer | 1000 NICOLLET MALL, MINNEAPOLIS MN 55403 |
Robert M Harrison | officer: Chief Accounting Officer | 1000 NICOLLET MALL, MINNEAPOLIS MN 55403 |
Richard H. Gomez | officer: Executive Officer | 1000 NICOLLET MALL, MINNEAPOLIS MN 55403 |
Gail Boudreaux | director | GENZYME CORP., 500 KENDALL STREET, CAMBRIDGE MA 02142 |
From GuruFocus
By GuruFocus Research • 08-22-2024
By GuruFocus Research • 08-21-2024
By GuruFocus Research • 05-23-2024
By PRNewswire • 07-08-2024
By Wall Street Horizon • 07-31-2024
By PRNewswire • 09-18-2024
By GuruFocus Research • 08-22-2024
By PRNewswire • 06-25-2024
By PRNewswire • 09-26-2024
By PRNewswire • 08-21-2024
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.