TJX COMPANIES INC /DE/ TJX
The TJX Companies, Inc. (together with its subsidiaries, "TJX," the "Company," "we," or "our") is the leading off-price apparel and home fashions retailer in the United States and worldwide. We have over 5,200 stores and six branded e-commerce sites that offer a rapidly changing assortment of quality, fashionable, brand name and designer merchandise at prices generally 20% to 60% below full-price retailers' (including department, specialty, and major online retailers) regular prices on comparable merchandise, every day.
Our mission is to deliver great value to our customers every day. In our stores and online, we offer consumers our value proposition of brand, fashion, price and quality. Our opportunistic buying strategies and flexible business model differentiate us from traditional retailers. We offer a treasure hunt shopping experience and a rapid turn of inventories relative to traditional retailers. Our goal is to create a sense of excitement and urgency for our customers and encourage frequent customer visits. We acquire merchandise in a variety of ways to support that goal. We reach a broad range of customers across income levels with our value proposition on a wide range of items. Our strategies and operations are synergistic across our retail chains. As a result, we are able to leverage our expertise throughout our business, sharing information, best practices, initiatives and new ideas, and to develop talent across our company. Further, we can leverage the substantial buying power of our businesses with our global vendor relationships.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $60.37B | $56.36B | $54.22B | $49.94B | $48.55B | $32.14B | $41.72B | $38.97B | $35.86B | $33.18B |
| Cost of revenue | $41.68B | $39.11B | $37.95B | $36.15B | $34.71B | $24.53B | $29.85B | $27.83B | $25.50B | $23.57B |
| Gross profit | $18.69B | $17.25B | $16.27B | $13.79B | $13.84B | $7.60B | $11.87B | $11.14B | $10.36B | $9.62B |
| SG&A | $11.52B | $10.95B | $10.47B | $8.93B | $9.08B | $7.02B | $7.45B | $6.92B | $6.38B | $5.77B |
| Operating income | — | — | — | — | — | — | — | $4.76B | $4.40B | $4.26B |
| Interest expense | $79.0M | $78.0M | $82.0M | $91.0M | $123.0M | $199.0M | $61.4M | $69.1M | $69.2M | $69.2M |
| Pre-tax income | $7.30B | $6.48B | $5.97B | $4.64B | $4.40B | $89.0M | $4.41B | $4.17B | $3.86B | $3.72B |
| Income tax | $1.80B | $1.62B | $1.49B | $1.14B | $1.11B | $1.0M | $1.13B | $1.11B | $1.25B | $1.42B |
| Net income | $5.49B | $4.86B | $4.47B | $3.50B | $3.28B | $90.0M | $3.27B | $3.06B | $2.61B | $2.30B |
| EPS, basic | 4.93 | 4.31 | 3.90 | 3.00 | 2.74 | 0.08 | 2.71 | 2.47 | 2.05 | 1.75 |
| EPS, diluted | 4.87 | 4.26 | 3.86 | 2.97 | 2.70 | 0.07 | 2.67 | 2.43 | 2.02 | 1.73 |
| Shares, diluted (wtd. avg.) | $1.13B | $1.14B | $1.16B | $1.18B | $1.22B | $1.22B | $1.23B | $1.26B | $1.29B | $1.33B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.23B | $5.33B | $5.60B | $5.48B | $6.23B | $10.47B | $3.22B | $3.03B | $2.76B | $2.93B |
| Short-term investments | — | — | — | — | — | — | — | $0 | $506.2M | $543.2M |
| Receivables | $602.0M | $549.0M | $529.0M | $563.0M | $518.0M | $461.1M | $386.3M | $346.3M | $327.2M | $258.8M |
| Inventory | $7.30B | $6.42B | $5.96B | $5.82B | $5.96B | $4.34B | $4.87B | $4.58B | $4.19B | $3.64B |
| Total current assets | $15.20B | $12.99B | $12.66B | $12.46B | $13.26B | $15.74B | $8.89B | $8.47B | $8.49B | $7.75B |
| Property, plant and equipment | $8.22B | $7.35B | $6.57B | $5.78B | $5.27B | $5.04B | $5.33B | $5.26B | $5.01B | $4.53B |
| Goodwill | $96.0M | $94.0M | $95.0M | $97.0M | $97.0M | $99.0M | $95.5M | $97.6M | $100.1M | $195.9M |
| Total assets | $35.77B | $31.75B | $29.75B | $28.35B | $28.46B | $30.81B | $24.15B | $14.33B | $14.06B | $12.88B |
| Accounts payable | $4.58B | $4.26B | $3.86B | $3.79B | $4.46B | $4.82B | $2.67B | $2.64B | $2.49B | $2.23B |
| Short-term debt | $999.0M | $0 | $0 | $500.0M | $0 | $749.7M | $0 | — | — | — |
| Total current liabilities | $13.36B | $11.01B | $10.45B | $10.30B | $10.47B | $10.80B | $7.15B | $5.53B | $5.13B | $4.76B |
| Long-term debt | $1.87B | $2.87B | $2.86B | $2.86B | $3.35B | $5.33B | $2.24B | $2.23B | $2.23B | $2.23B |
| Retained earnings | $9.43B | $7.88B | $6.70B | $5.82B | $5.51B | $4.97B | $5.42B | $4.46B | $4.33B | $4.56B |
| Total equity | $10.19B | $8.39B | $7.30B | $6.36B | $6.00B | $5.83B | $5.95B | $5.05B | $5.15B | $4.51B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.87B | $6.12B | $6.06B | $4.08B | $3.06B | $4.56B | $4.07B | $4.09B | $3.03B | $3.63B |
| Depreciation and amortisation | $1.25B | $1.10B | $964.0M | $887.0M | $868.0M | $871.0M | $867.3M | $819.7M | $726.0M | $658.8M |
| Stock-based compensation | $214.0M | $183.0M | $160.0M | $122.0M | $189.0M | $59.0M | $125.0M | $103.6M | $101.4M | $102.3M |
| Capital expenditure | $1.96B | $1.92B | $1.72B | $1.46B | $1.04B | $568.0M | $1.22B | $1.13B | $1.06B | $1.02B |
| Investing cash flow | -$1.98B | -$2.48B | -$1.72B | -$1.47B | -$1.05B | -$579.0M | -$1.46B | -$623.6M | -$1.01B | -$1.21B |
| Financing cash flow | -$4.12B | -$3.84B | -$4.21B | -$3.31B | -$6.20B | $3.23B | -$2.41B | -$3.10B | -$2.30B | -$1.59B |
| Dividends paid | $1.84B | $1.65B | $1.48B | $1.34B | $1.25B | $278.0M | $1.07B | $922.6M | $764.0M | $651.0M |
| Buybacks | $2.52B | $2.51B | $2.48B | $2.25B | $2.18B | $202.0M | $1.55B | $2.41B | $1.64B | $1.70B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000109198-26-000015.
Others in SIC 5651
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| ROST | ROSS STORES, INC. | $73.69B | 34.9x | 7.7% |
| GAP | GAP INC | $7.88B | 10.5x | 1.9% |
| URBN | URBAN OUTFITTERS INC | $6.93B | 16.0x | 11.1% |
| ANF | ABERCROMBIE & FITCH CO /DE/ | $6.35B | 14.3x | 6.4% |
| AEO | AMERICAN EAGLE OUTFITTERS INC | $2.91B | 16.0x | 4.1% |
| BKE | BUCKLE INC | $2.22B | 10.4x | 6.6% |
| LE | LANDS' END, INC. | $323.2M | 60.8x | -2.0% |
| PLCE | Childrens Place, Inc. | $62.5M | — | -12.8% |