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Raw Data

Key Financial Items


Cash
Receivables
Inventory
Total Current Assets
Total Assets
Total Current Liabilities
Total Liabilities
Total Stockholder Equity
Sales
Cost of Sales
EBIT
Pretax Income
Net Income (Loss)
Dividend Expense

2007
758
5565
4760
11935
28603
7523
19160
9443
43917
29260
3264
2676
1654
218

2008
716
5776
5343
12928
31392
8314
20327
11065
48163
31790
3519
2960
1841
246

2009
2245
5497
5384
13922
32293
8220
19264
13029
46839
31445
3601
3031
3198
280

2010
1648
6226
5838
14405
34995
9588
20790
14205
52620
34927
4296
3860
2408
334

2011
813
6757
6254
14706
37349
11117
21716
15633
59490
39399
5041
4497
2787
396

Forecast
Growth Rate in Sales
Dollar Amounts
Cash
Receivables
Inventory
Other Current Assets
Total Current Assets
Net Fixed Assets
Total Assets
Total Current Liabilities
Total Long-Term Liabilities
Total Liabilities
Total Stockholder Equity
Sales
Cost of Sales
EBIT
Pretax Income
Net Income (Loss)
Dividend Expense
Dividend Payout Ratio
Percent of Sales
Cash
Receivables
Inventory
Other Current Assets
Total Current Assets
Net Fixed Assets
Total Assets
Total Current Liabilities
Total Long-Term Liabilities
Total Liabilities
Total Stockholder Equity
Sales
Cost of Sales
EBIT
Pretax Income
Net Income (Loss)
Dividend/Cash Expense

2.00%
2007
758
5565
4760
852
11935
16668
28603
7523
11637
19160
9443
43917
29260
3264
2676
1654
218
13.18%

2008
716
5776
5343
1093
12928
18464
31392
8314
12013
20327
11065
48163
31790
3519
2960
1841
246
13.36%

2009
2245
5497
5384
796
13922
18371
32293
8220
11044
19264
13029
46839
31445
3601
3031
3198
280
8.76%

2010
1648
6226
5838
693
14405
20590
34995
9588
11202
20790
14205
52620
34927
4296
3860
2408
334
13.87%

2011
813
6757
6254
882
14706
22643
37349
11117
10599
21716
15633
59490
39399
5041
4497
2787
396 Average
14.21%
12.68%
A2RE
2011 Average

2007

2008

2009

2010

12.67%
10.84%
1.94%

11.99%
11.09%
2.27%

11.74%
11.49%
1.70%

11.83%
11.09%
1.32%

11.36%
10.51%
1.48%

11.92%
11.01%
1.74%

37.95%

38.34%

39.22%

39.13%

38.06%

38.54%

17.13%
26.50%

17.26%
24.94%

17.55%
23.58%

18.22%
21.29%

18.69%
17.82%

17.77%
22.82%

100.00%
66.63%
7.43%
6.09%
3.77%
0.50%

100.00%
66.01%
7.31%
6.15%
3.82%
0.51%

100.00%
67.13%
7.69%
6.47%
6.83%
0.60%

100.00%
66.38%
8.16%
7.34%
4.58%
0.63%

100.00%
66.23%
8.47%
7.56%
4.68%
0.67%

100.00%
66.47%
7.81%
6.72%
4.74%
0.58%

2012
2338.34
7231.87
6254.00
1056.85
16881.06
22643.00
39524.06
10782.81
10599.00
21381.81
18142.24
60679.80
40336.14
4740.86
4078.30
2873.47
364.22

2013
4947.65
7376.50
6254.00
1077.99
19656.14
22643.00
42299.14
10998.47
10599.00
21597.47
20701.67
61893.40
41142.86
4835.68
4159.86
2930.94
371.51

2014
7609.15
7524.03
6254.00
1099.55
22486.73
22643.00
45129.73
11218.44
10599.00
21817.44
23312.29
63131.26
41965.72
4932.39
4243.06
2989.56
378.94

2015
10323.87
7674.52
6254.00
1121.54
25373.93
22643.00
48016.93
11442.81
10599.00
22041.81
25975.12
64393.89
42805.04
5031.04
4327.92
3049.35
386.52

2016
13092.89
7828.01
6254.00
1143.97
28318.87
22643.00
50961.87
11671.67
10599.00
22270.67
28691.20
65681.77
43661.14
5131.66
4414.48
3110.33
394.25

2509.24

2559.43

2610.62

2662.83

2716.09

Valuation
Now
Dividend Expense (in millions)
Dividend per Share

2012
364.22
0.54

2013
371.51
0.56

2014
378.94
0.57

2015
386.52
0.58
P 2015

0.51

0.48

r
g
# of Shares (in millions)

7.00%
2.50%
669.3

PRICE
11.88

0.46

13.09
10.43

2016
394.25
0.59

2017

2018

0.60

0.62

2019 etc.
etc.
0.63 etc.

Ratio Analysis and Discussion


Current Ratio
Accounts Receivable Turnover
Average Collection Period (assuming a 360-day year)
Inventory Turnover
Days to Sell Inventory
Net Profit Margin
Total Asset Turnover

2007
1.5865
7.8916
45.6179
6.1471
58.5646
0.0377
1.5354

2008
1.5550
8.3385
43.1734
5.9498
60.5058
0.0382
1.5342

2009
1.6937
8.5208
42.2494
5.8405
61.6391
0.0683
1.4504

2010
1.5024
8.4517
42.5952
5.9827
60.1735
0.0458
1.5036

2011
1.3228
8.8042
40.8896
6.2998
57.1446
0.0468
1.5928

2012
1.5656
8.3906
42.9051
6.4497
55.8169
0.0474
1.5353

2013
1.7872
8.3906
42.9051
6.5786
54.7225
0.0474
1.4632

2014
2.0044
8.3906
42.9051
6.7102
53.6495
0.0474
1.3989

Current Ratio: L ooking at the c urrent ratio across the historical data, Target appears to be getting worse in terms of its preparedness to p ay its
debt c oming due soon with c ash from i ts most l iquid assets. However, looking at the forecasting data across time, Target appears to be improving
in terms of its preparedness to pay i ts debt c oming due soon with c ash from i ts most l iquid assets.
When l ooking at both the historical data and the forecasting data across time for Target, there is an overall i mprovement i n the company's
preparedness to pay i ts debt c oming due soon with c ash from i ts most l iquid assets.
Accounts Receivable Turnover: Looking at the account receivables turnover ratio across the historical data, Target appears to be getting better in
terms of the amount of times per year that the c ompany c ollects an entire balance of account receivables, on average. However, l ooking at the
forecasting data, Target appears to stay steady with the amount of times per year that i t c ollects money from c ustomers.
When l ooking at both the historical data and the forecasting data across time for Target, there is an overall i mprovement i n the amount of times
per year that the c ompany c ollects an entire balance of account receivables, on average.
Average Collection Period: L ooking at the average c ollection period across the historical data, Target appears to take less amount of days to c ollect
an entire balance of account receivables once. However, l ooking at the forecast data, Target appears to stay steady in the amount of days i t takes
to c ollect an account receivables balance.
When l ooking at both the historical data and the forecasting data across time for Target, there is an overall decrease in the amount of days it takes
Target to c ollect an entire balance of account receivables once, therefore indicating an i mprovement i n their c ollection system across time.
Inventory Turnover Ratio: Looking at the i nventory turnover ratio across the historical data, Target first appears to be doing worse, then appears
to be getting better, i n terms of the amount of times per year that the company turns over an entire balance of i nventory, on average. However,
forecasting data also shows that Target appears to be getting better i n terms of turning over i nventory balances on average throughout the year.
When l ooking at both the historical data and the forecasting data across time for Target, there is an overall i mprovement i n the amount of times
per year that Target turns over an entire balance of inventory, on average.
Days to Sell Inventory: L ooking at the amount of days to sell inventory across the historical data, Target i ncreases then decreases the amount of
days it needs to turn over an entire balance of inventory once, on average. However, l ooking at the forecasting data, Target appears to be
decreasing in the amount of days it takes to turn over a balance of inventory.
When l ooking at both the historical data and the forecasting data across time for Target, there is an overall i mprovement i n the amount of days
Target needs to turn over an entire balance of i nventory once, on average, because they take less amount of time to do so.
Net Profit M argin: Looking at the net profit margin, Target appears to be i ncreasing and then decreasing i n i ts effectiveness of managing all their
expenses while generating sales. However, looking at the forecasting data, they appear to be steady in their management of expenses while selling
their products.
When l ooking at both the historical data and the forecasting data across time for Target, there is an overall i mprovement i n Target's effectiveness
of managing all their expenses when generating sales.
Total Asset Turnover: L ooking at the total asset turnover, Target appears to stay steady in their ability to use all of i ts assists to generate sales.
However, looking at the forecasting data, Target seems to be doing worse i n this regard.
When l ooking at both the historical data and the forecasting data across time for Target, there is an overall decrease in Target's ability to use all of

2015
2.2175
8.3906
42.9051
6.8444
52.5975
0.0474
1.3411

2016
2.4263
8.3906
42.9051
6.9813
51.5662
0.0474
1.2888