A Business at a Glance
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TJX COMPANIES INC /DE/
TJX
$176.1B
Mkt Cap
$154.22
+0.48%
TJX COMPANIES INC /DE/ (TJX) has a current P/E ratio of 34.0, compared to its historical median P/E of 20.7. The stock is currently considered Expensive based on its historical valuation range.
TJX COMPANIES INC /DE/ (TJX) has a 5-year average return on invested capital (ROIC) of 49.5%. This indicates strong capital allocation and a potential competitive advantage.
TJX COMPANIES INC /DE/ (TJX) has a market capitalization of $170.4B. It is classified as a large-cap stock.
Yes, TJX COMPANIES INC /DE/ (TJX) pays a dividend with a trailing twelve-month yield of 0.97%. The company also returns capital through share buybacks, with a buyback yield of 1.48%.
Based on historical P/E analysis, TJX COMPANIES INC /DE/ (TJX) appears expensive. The current P/E of 34.0 is 64% above its historical median of 20.7. The estimated fair value CAGR (P/E method) is 21.3%.
TJX COMPANIES INC /DE/ (TJX) operates in the Retail-Family Clothing Stores industry, within the Consumer Cyclical sector.
TJX COMPANIES INC /DE/ (TJX) reported annual revenue of $56.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
TJX Companies is the leading off-price apparel and home fashions retailer in the United States and worldwide, operating over 5,000 stores and six branded e-commerce sites that offer quality, fashionable, brand name and designer merchandise at prices generally 20% to 60% below full-price retailers' regular prices every day. The company operates through four segments—Marmaxx (TJ Maxx and Marshalls chains in the U.S., collectively the largest off-price retailer in the United States with 2,563 stores), HomeGoods (943 stores of home fashions and 72 Homesense stores in the U.S.), TJX Canada (Winners, HomeSense, and Marshalls chains with 576 stores), and TJX International (TK Maxx and Homesense in Europe and TK Maxx in Australia with 814 stores), plus Sierra, an off-price retailer of active and outdoor apparel and gear with 117 stores. TJX's differentiated business model centers on opportunistic buying from over 21,000 global vendors, flexible inventory management, and rapid inventory turnover to create a treasure hunt shopping experience; the company acquires merchandise through closeouts, special production, order cancellations, and manufacturer overruns, buying much of its merchandise for the current or immediately upcoming season while maintaining lean inventory levels. The company operates with a low-cost structure, including minimal promotional pricing, banner-focused advertising, and cost-effective distribution across approximately 30 million square feet of distribution centers in six countries, enabling it to maintain its pricing gap relative to traditional retailers across various economic cycles. TJX serves a broad range of customers across income levels through its value proposition of brand, fashion, price, and quality, with synergistic operations across retail chains that allow the company to leverage buying power, expertise, and best practices globally.
【Strong execution and market share gains】 Management highlighted terrific first-quarter performance driven by above-plan sales, favorable fuel hedges, and stronger-than-expected merchandise margin, with the company raising full-year sales and profitability outlook. The company attracted new shoppers across every country it operates in and is confident in capturing additional market share by bringing excitement to shoppers with its value proposition. Management remains excited about significant store growth opportunities ahead, with a long-term store target of 7,000 stores in current countries plus expansion into Spain, and further international reach through a joint venture in Mexico and investment in the Middle East. The company expects merchandise margin improvement and is evaluating the potential impact of tariff rulings while assuming it will be able to offset tariff pressure on its business.
| Metric | Target | Period |
|---|---|---|
| Consolidated sales | $63.2 billion–$63.7 billion | FY2027 |
| Overall comp sales growth | 3%–4% | FY2027 |
| Full-year pre-tax profit margin | 11.9%–12% | FY2027 |
| Full-year gross margin | 31.2%–31.3% | FY2027 |
| Full-year diluted earnings per share | $5.08–$5.15 | FY2027 |
| Second quarter overall comp sales | 2%–3% | Q2 FY2027 |
| Second quarter consolidated sales | $15 billion–$15.1 billion | Q2 FY2027 |
| Second quarter diluted earnings per share | $1.15–$1.17 | Q2 FY2027 |
| Capital expenditures | $2.2 billion–$2.3 billion | FY2027 |
| Net new stores | 146 net new stores | FY2027 |
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2027 Earnings Call, Q3 FY2027 Earnings Call, Q2 FY2027 Earnings Call, Q1 FY2027 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 56.4B | 54.2B | 49.9B | 48.5B | 32.1B |
| Net Income | 0 | 4.9B | 4.5B | 3.5B | 3.3B | 90M |
| EPS | $0.00 | $4.26 | $3.86 | $2.97 | $2.70 | $0.07 |
| Free Cash Flow | 0 | 4.2B | 4.3B | 2.6B | 2.0B | 4.0B |
| ROIC | - | 63.7% | 63.0% | 56.0% | 57.7% | 6.9% |
| Gross Margin | - | 30.6% | 30.0% | 27.6% | 28.5% | 23.7% |
| Debt/Equity | 0.00 | 0.34 | 0.39 | 0.61 | 0.56 | 1.17 |
| Dividends/Share | $0.00 | $1.50 | $1.33 | $1.18 | $1.04 | $0.22 |
| Operating Income | 0 | 6.7B | 6.1B | 4.7B | 4.6B | 401M |
| Operating Margin | 0.0% | 11.8% | 11.3% | 9.5% | 9.6% | 1.2% |
| ROE | 0.0% | 62.0% | 61.3% | 55.0% | 54.7% | 1.6% |
| Shares Outstanding | 1,105M | 1,142M | 1,159M | 1,178M | 1,216M | 1,292M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 27.4B | 29.1B | 30.9B | 33.2B | 35.9B | 39.0B | 41.7B | 32.1B | 48.5B | 49.9B | 54.2B | 56.4B | 0 |
| Gross Margin | N/A | N/A | N/A | 29.0% | 28.9% | 28.6% | 28.5% | 23.7% | 28.5% | 27.6% | 30.0% | 30.6% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 4.5B | 4.7B | 5.2B | 5.8B | 6.4B | 6.9B | 7.5B | 7.0B | 9.1B | 8.9B | 10.5B | 10.9B | 10.9B |
| EBIT | 3.7B | 3.9B | 4.1B | 4.3B | 4.4B | 4.2B | 4.6B | 401M | 4.6B | 4.7B | 6.1B | 6.7B | 0 |
| Op. Margin | 13.4% | 13.5% | 13.3% | 12.8% | 12.3% | 10.9% | 11.0% | 1.2% | 9.6% | 9.5% | 11.3% | 11.8% | 0.0% |
| Net Income | 2.1B | 2.2B | 2.3B | 2.3B | 2.6B | 3.1B | 3.3B | 90M | 3.3B | 3.5B | 4.5B | 4.9B | 0 |
| Net Margin | 7.8% | 7.6% | 7.4% | 6.9% | 7.3% | 7.9% | 7.8% | 0.3% | 6.8% | 7.0% | 8.3% | 8.6% | 0.0% |
| Non-Recurring | 7.9M | 3.9M | 3.4M | 0 | 97M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 83.4% | 76.0% | 74.4% | 74.1% | 75.2% | 89.2% | 57.5% | 6.9% | 57.7% | 56.0% | 63.0% | 63.7% | N/A |
| ROE | 54.1% | 52.2% | 53.1% | 52.1% | 54.0% | 68.6% | 55.0% | 1.6% | 54.7% | 55.0% | 61.3% | 62.0% | 0.0% |
| ROA | 21.8% | 21.0% | 20.3% | 18.9% | 19.4% | 13.6% | 13.6% | 0.3% | 11.5% | 12.3% | 15.0% | 15.8% | 0.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 2.6B | 3.0B | 3.0B | 3.6B | 3.0B | 4.1B | 4.1B | 4.6B | 3.1B | 4.1B | 6.1B | 6.1B | 0 |
| Free Cash Flow | 1.6B | 2.1B | 2.1B | 2.6B | 2.0B | 3.0B | 2.8B | 4.0B | 2.0B | 2.6B | 4.3B | 4.2B | 0 |
| Owner Earnings | 2.0B | 2.3B | 2.2B | 2.9B | 2.2B | 3.2B | 3.1B | 3.6B | 2.0B | 3.1B | 4.9B | 4.8B | -1.3B |
| CapEx | 947M | 912M | 889M | 1.0B | 1.1B | 1.1B | 1.2B | 568M | 1.0B | 1.5B | 1.7B | 1.9B | 0 |
| Maint. CapEx | 549M | 589M | 617M | 659M | 726M | 820M | 867M | 871M | 868M | 887M | 964M | 1.1B | 1.1B |
| Growth CapEx | 398M | 323M | 273M | 366M | 332M | 305M | 356M | 0 | 177M | 570M | 758M | 814M | 0 |
| D&A | 549M | 589M | 617M | 659M | 726M | 820M | 867M | 871M | 868M | 887M | 964M | 1.1B | 1.1B |
| CapEx/OCF | 36.4% | 30.3% | 30.3% | 28.3% | 35.0% | 27.5% | 30.1% | 12.5% | 34.2% | 35.7% | 28.4% | 31.4% | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 394M | 466M | 544M | 651M | 764M | 923M | 1.1B | 278M | 1.3B | 1.3B | 1.5B | 1.6B | 0 |
| Dividend Yield | 1.2% | 1.3% | 1.3% | 0.7% | 0.9% | 1.7% | 1.7% | 0.4% | 1.6% | 1.8% | 1.5% | 1.3% | N/A |
| Share Buybacks | 1.5B | 1.7B | 1.8B | 1.7B | 1.6B | 2.4B | 1.6B | 202M | 2.2B | 2.3B | 2.5B | 2.5B | 2.5B |
| Buyback Yield | 3.9% | 4.0% | 4.1% | 3.7% | 3.4% | 4.1% | 2.3% | 0.3% | 2.9% | 2.6% | 2.2% | 1.8% | 1.5% |
| Stock-Based Comp | 76M | 88M | 94M | 102M | 101M | 104M | 125M | 59M | 189M | 122M | 160M | 183M | 183M |
| Debt Repayment | 4.3M | 416M | 0 | 426M | 0 | 0 | 1.0B | 1.4B | 3.0B | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -1.2B | -1.2B | -828M | -1.2B | -1.0B | -980M | -10.7B | -14.1B | -9.1B | -7.1B | -8.3B | -7.8B | 0 |
| Cash & Equiv. | 2.1B | 2.5B | 2.1B | 2.9B | 2.8B | 3.2B | 10.5B | 10.5B | 6.2B | 5.5B | 5.6B | 5.3B | N/A |
| Long-Term Debt | 1.3B | 1.6B | 1.6B | 2.2B | 2.2B | 2.2B | 2.2B | 5.3B | 3.4B | 2.9B | 2.9B | 2.9B | 2.9B |
| Debt/Equity | 0.30 | 0.38 | 0.38 | 0.49 | 0.43 | 0.50 | 0.50 | 1.17 | 0.56 | 0.61 | 0.39 | 0.34 | 0.00 |
| Interest Coverage | 64.5 | 60.7 | 60.1 | 61.5 | 63.6 | 69.0 | 23.1 | 1.3 | 19.2 | 51.9 | 36.1 | 36.8 | 36.8 |
| Equity | 4.2B | 4.3B | 4.3B | 4.5B | 5.1B | 4.5B | 5.9B | 5.8B | 6.0B | 6.4B | 7.3B | 8.4B | 0 |
| Total Assets | 10.1B | 11.0B | 11.5B | 12.9B | 14.1B | 22.6B | 24.1B | 30.8B | 28.5B | 28.3B | 29.7B | 31.7B | 0 |
| Total Liabilities | 5.9B | 6.7B | 7.2B | 8.4B | 8.9B | 2.7B | 18.2B | 25.0B | 22.5B | 22.0B | 22.4B | 23.4B | 23.4B |
| Intangibles | 313M | 310M | 344M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 3.7B | 4.1B | 4.3B | 4.6B | 4.3B | 4.5B | 5.4B | 5.0B | 5.5B | 5.8B | 6.7B | 7.9B | 7.9B |
| Working Capital | 2.6B | 2.6B | 2.4B | 3.0B | 3.4B | 6.2B | 1.7B | 4.9B | 2.8B | 2.2B | 2.2B | 2.0B | 2.0B |
| Current Assets | 6.1B | 6.6B | 6.8B | 7.8B | 8.5B | 8.9B | 8.9B | 15.7B | 13.3B | 12.5B | 12.7B | 13.0B | 13.0B |
| Current Liabilities | 3.5B | 3.9B | 4.4B | 4.8B | 5.1B | 2.7B | 7.2B | 10.8B | 10.5B | 10.3B | 10.5B | 11.0B | 11.0B |
| Per Share Data | |||||||||||||
| EPS | 1.47 | 1.58 | 1.67 | 0.87 | 1.01 | 2.43 | 2.67 | 0.07 | 2.70 | 2.97 | 3.86 | 4.26 | 0.00 |
| Owner EPS | 1.35 | 1.66 | 1.64 | 1.08 | 0.85 | 2.51 | 2.51 | 2.81 | 1.64 | 2.61 | 4.26 | 4.23 | -1.17 |
| Book Value | 2.91 | 3.03 | 3.15 | 1.70 | 1.99 | 3.54 | 4.85 | 4.51 | 4.94 | 5.40 | 6.30 | 7.35 | 0.00 |
| Cash Flow/Share | 1.78 | 2.14 | 2.16 | 1.37 | 1.17 | 3.25 | 3.32 | 3.53 | 2.51 | 3.47 | 5.23 | 5.36 | 1.00 |
| Dividends/Share | 0.29 | 0.35 | 0.42 | 0.26 | 0.32 | 0.92 | 0.26 | 0.22 | 1.04 | 1.18 | 1.33 | 1.50 | 0.00 |
| Shares Out. | 1.5B | 1.4B | 1.4B | 2.7B | 2.6B | 1.3B | 1.2B | 1.3B | 1.2B | 1.2B | 1.2B | 1.1B | 1.1B |
| Valuation | |||||||||||||
| P/E Ratio | 17.8 | 18.7 | 19.7 | 20.0 | 18.3 | 19.2 | 20.7 | 876.2 | 23.1 | 24.8 | 25.5 | 28.9 | N/A |
| P/FCF | 23.1 | 19.8 | 21.8 | 35.3 | 48.6 | 19.9 | 23.9 | 19.8 | 37.7 | 33.0 | 26.4 | 33.5 | N/A |
| EV/EBIT | 11.0 | 11.3 | 11.9 | 11.8 | 12.1 | 13.8 | 14.4 | 162.3 | 14.4 | 17.2 | 17.3 | 19.9 | N/A |
| Price/Book | 9.0 | 9.7 | 10.4 | 10.2 | 9.3 | 13.2 | 11.4 | 13.6 | 12.6 | 13.6 | 15.6 | 16.8 | N/A |
| Price/Sales | 1.2 | 1.3 | 1.3 | 1.3 | 1.2 | 1.4 | 1.5 | 2.1 | 1.6 | 1.5 | 1.8 | 2.2 | N/A |
| FCF Yield | 4.3% | 5.1% | 4.6% | 5.7% | 4.1% | 5.0% | 4.2% | 5.0% | 2.7% | 3.0% | 3.8% | 3.0% | N/A |
| Market Cap | 37.9B | 41.5B | 45.0B | 45.9B | 47.8B | 58.8B | 67.9B | 79.3B | 75.8B | 86.6B | 114.2B | 140.7B | 170.4B |
| Avg. Price | 23.05 | 25.85 | 29.95 | 33.49 | 32.97 | 43.27 | 51.67 | 52.27 | 64.48 | 64.37 | 83.52 | 110.15 | 154.22 |
| Year-End Price | 26.09 | 29.48 | 32.88 | 34.57 | 37.06 | 46.72 | 55.37 | 61.33 | 62.35 | 73.55 | 98.56 | 123.26 | 154.22 |
TJX COMPANIES INC /DE/ passes 7 of 9 quality checks, indicating strong fundamentals.
TJX COMPANIES INC /DE/ trades at 34.0x trailing earnings, compared to its 15-year median P/E of 20.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 38.8x vs a median of 29.7x. The company's 5-year average ROIC is 49.5% with a gross margin of 28.1%. Total shareholder yield (dividends + buybacks) is 2.4%. At current prices, the estimated annualized return to fair value is +9.1%.
TJX COMPANIES INC /DE/ (TJX) has a net profit margin of 8.6%. This is a modest margin.
TJX COMPANIES INC /DE/ (TJX) generated $4.2 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TJX COMPANIES INC /DE/ (TJX) has a debt-to-equity ratio of 0.34. This indicates a conservatively financed balance sheet.
TJX COMPANIES INC /DE/ (TJX) reported earnings per share (EPS) of $4.26 in its most recent fiscal year.
TJX COMPANIES INC /DE/ (TJX) has a return on equity (ROE) of 62.0%. This indicates the company generates strong returns for shareholders.
TJX COMPANIES INC /DE/ (TJX) has a 5-year average gross margin of 28.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for TJX COMPANIES INC /DE/ (TJX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TJX COMPANIES INC /DE/ (TJX) has a book value per share of $7.35, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management highlighted terrific first-quarter performance driven by above-plan sales, favorable fuel hedges, and stronger-than-expected merchandise margin, with the company raising full-year sales and profitability outlook. The company attracted new shoppers across every country it operates in and is confident in capturing additional market share by bringing excitement to shoppers with its value proposition. Management remains excited about significant store growth opportunities ahead, with a long-term store target of 7,000 stores in current countries plus expansion into Spain, and further international reach through a joint venture in Mexico and investment in the Middle East. The company expects merchandise margin improvement and is evaluating the potential impact of tariff rulings while assuming it will be able to offset tariff pressure on its business.
Based on recent SEC filings and earnings calls, TJX COMPANIES INC /DE/ (TJX) has provided the following forward guidance: Consolidated sales: $63.2 billion–$63.7 billion (FY2027); Overall comp sales growth: 3%–4% (FY2027); Full-year pre-tax profit margin: 11.9%–12% (FY2027); Full-year gross margin: 31.2%–31.3% (FY2027); Full-year diluted earnings per share: $5.08–$5.15 (FY2027), plus 6 additional metrics.
| Share buyback |
| $2.5 billion–$2.75 billion |
| FY2027 |
Consolidated sales (FY2027): “we are increasing our full-year consolidated sales guidance to be in the range of $63.2 billion-$63.7 billion, up 5%-6% versus last year”
Overall comp sales growth (FY2027): “we now expect overall comp sales growth of 3%-4%”
Full-year pre-tax profit margin (FY2027): “We are increasing our full-year pre-tax profit margin guidance to be in the range of 11.9%-12%, up 20-30 basis points versus last year's adjusted 11.7%”
Full-year gross margin (FY2027): “Moving to gross margin, we now expect it to be in the range of 31.2%-31.3%, up 20-30 basis points versus last year's adjusted 31%”
Full-year diluted earnings per share (FY2027): “we are increasing our full-year diluted earnings per share to be in the range of $5.08-$5.15. This will represent a 7%-9% increase versus last year's adjusted $4.73”
Second quarter overall comp sales (Q2 FY2027): “We are planning overall comp sales to increase 2%-3%”
Second quarter consolidated sales (Q2 FY2027): “consolidated sales to be in the range of $15 billion-$15.1 billion, up 4%-5%”
Second quarter diluted earnings per share (Q2 FY2027): “we expect second quarter diluted earnings per share to be in the range of $1.15-$1.17, up 5%-6% versus last year's $1.10”
No recent press releases.