The TJX Companies Inc.
TJXFinancial Snapshot
ticker: TJX step: 04 generated: 2026-05-12 source: quick-research
The TJX Companies, Inc. (TJX) — Financial Snapshot
(TJX's fiscal year ends early February; FY2025 ended ~Feb 1 2025; FY2026 ends ~Jan 31 2026.)
Income Statement Summary
| Metric | FY2024 (53-wk) | FY2025 (52-wk) | FY2026E (52-wk) | YoY (FY26E) |
|---|---|---|---|---|
| Net Sales | $54.2B | $56.4B | ~$60.4B | +7% |
| Comparable Sales | +4% | +3% | +2–3% | flat-to-down vs. FY25 |
| Pretax Profit Margin | 11.5% | 11.6% | 11.3–11.4% | -10 to -20 bps |
| Net Income | $4.5B | $4.9B | ~$5.6B | +14% |
| Diluted EPS | $3.86 | $4.26 | $4.34–4.43 | +2–4% |
Segment Detail (FY2025)
| Segment | Net Sales | YoY | Profit Margin |
|---|---|---|---|
| Marmaxx (TJ Maxx + Marshalls + Sierra) | $34.6B | +4% | 14.1% |
| HomeGoods (+ Homesense US) | $9.4B | +4% | 10.9% |
| TJX International (Europe + Australia) | $7.2B | +6% | mid-high single digit |
| TJX Canada | $5.2B | +3% | 13.5% |
Cash Flow & Capital Allocation (FY2025)
| Metric | Value |
|---|---|
| Operating Cash Flow | $6.1B |
| Free Cash Flow | ~$5.5B |
| Capital Returned to Shareholders | $4.1B |
| Share Repurchases (FY25) | ~$2.5B |
| Share Repurchase Authorization (FY26) | $2.0–2.5B planned |
| Dividend (Quarterly post-FY25 hike) | $0.45 (+13%) |
| Annual Dividend Yield | ~1.3% |
| Cash & Marketable Securities | $5.3B |
| Total Debt | ~$3B |
| Net Cash Position | ~+$2B |
| Consecutive Years of Dividend Increases | 28 |
FY2026 Guidance (Maintained After Q1)
| Metric | 2026 Guide |
|---|---|
| Consolidated Comparable Sales Growth | +2–3% |
| Pretax Profit Margin | 11.3–11.4% |
| Diluted EPS | $4.34–4.43 (+2–4%) |
Key Ratios (approximate)
- P/E: ~30x (FY26 EPS midpoint) | EV/EBITDA: ~20x | FCF Yield: ~3.5%
- Revenue Growth (FY25): +4%; FY26 guide +7% (including extra week)
- Pretax Profit Margin: 11.6% (FY25)
- Dividend Yield: ~1.3% | Dividend Growth: +13% in FY25
- Net Cash Position; minimal leverage
- ROIC: ~30%+
Growth Profile
TJX is one of the most consistent compounders in retail:
- FY25 comp sales +3% (above plan); EPS +10%; pretax profit margin 11.6% (vs. 11.5% in FY24)
- 28 consecutive years of dividend increases; +13% hike for FY26
- $2.0–2.5B buybacks planned for FY26
- Long-term target: 7,000 global stores (vs. ~5,000 today); ~40% headroom for organic growth
The 2026 backdrop is structurally favorable:
- Tariff disruption + retail bankruptcies creating closeout inventory supply
- "Tariff-neutral" positioning insulates TJX from price pressure that hits full-price competitors
- Consumer trade-down to value retailers in any softer macro environment
FY26 guide of +2–3% comp + 11.3–11.4% pretax margin + $4.34–4.43 EPS represents continued stable growth despite slight margin compression (international + new store ramp).
Forward Estimates
FY2026 Guide:
- Net Sales: ~$60B (+7% incl. 53rd week effect; ~+5% organic)
- EPS: $4.34–4.43 (+2–4%)
- Pretax Profit Margin: 11.3–11.4%
Bull case: Tariff-driven inventory windfall supports closeout availability through 2026–27; international expansion accelerates; comp sales sustain +3–4%; multiple expands as off-price anchor narrative compounds. Bear case: Full-price retail recovers; closeout supply tightens; international new-store ramp dilutive longer than expected; comp sales decelerate. Consensus targets ~$140–155 vs. trading ~$135–145 (~5–10% upside).
Deeper Financial Analysis
The fundamental tier adds 9 additional research dimensions for $TJX.