The TJX Companies Inc.

TJX
Financial Analysis · Updated May 12, 2026 · Coverage 2026-Q2
Latest Q Revenue
$17.3B
Q4 FY2026 · +9% YoY
TTM ROIC
30.6%
FY2026 · NOPAT / Invested Capital (StockAnalysis.com adjusted methodology) · WACC ~8.3% · Moat spread +22.3pp

Financial 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.

Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
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The TJX Companies Inc. (TJX) — Financial Analysis | Margin of Insight