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

Sales g:
2009
2010
2245
1648
5497
6226
5384
5838
796
693
13922
14405
18371
20590
32293
34995
8220
9588
11044
11202
19264
20790
13029
14205
46839
52620
31445
34927
3601
4296
3031
3860
3198
2408
280
334
8.76%
13.87%
Additions to R
2009
2010

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

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%

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)
Cash Dividend

2007

2008

12.67%
10.84%
1.94%

11.99%
11.09%
2.27%

11.74%
11.49%
1.70%

11.83%
11.09%
1.32%

17.13%

17.26%

17.55%

18.22%

100.00%
66.63%
7.43%
6.09%
3.77%

100.00%
66.01%
7.31%
6.15%
3.82%

100.00%
67.13%
7.69%
6.47%
6.83%

100.00%
66.38%
8.16%
7.34%
4.58%

2.00%
2011
813
6757
6254
882
14706
22643
37349
11117
10599
21716
15633
59490
39399
5041
4497
2787
396
Ave.
14.21% 12.68%
Additions to Ret. Earn.
2011
Ave.
11.36%
10.51%
1.48%

11.92%
11.01%
1.74%

18.69%

17.77%

100.00% 100.00%
66.23% 66.47%
8.47%
7.81%
7.56%
6.72%
4.68%
4.74%

2012
2338
7232
6254
1057
16881
22643
39524
10783
10599
21382
18142
60680
40336
4741
4078
2873
364

2013
4948
7377
6254
1078
19656
22643
42299
10998
10599
21597
20702
61893
41143
4836
4160
2931
372

2014
7609
7524
6254
1100
22487
22643
45130
11218
10599
21817
23312
63131
41966
4932
4243
2990
379

2015
10324
7675
6254
1122
25374
22643
48017
11443
10599
22042
25975
64394
42805
5031
4328
3049
387

2509

2559

2611

2663

2016
13093
7828
6254
1144
28319
22643
50962
11672
10599
22271
28691
65682
43661
5132
4414
3110
394
2716

Now
Dividend Expense (in millions)
Dividends per Share

2012
364.22
0.54

2013
371.51
0.56

0.51

0.48

PRICE
11.88
r
g
# of Shares (in millions

7.00%
2.50%
669.3

2014
378.94
0.57

2015
386.52
0.58
P2015
13.09
0.46
10.43

2016
394.25
0.59

2017

2018

2019 etc.

0.60

0.62

0.63 etc.

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

2007
2008
1.5865
1.5550
7.8916
8.3385
45.6179
43.1734
6.1471
5.9498
58.5646
60.5058
3.7662%
3.8224%
153.5398% 153.4244%

1. Looking at the Current ratio across time, Target appears to be improving, in terms of its preparedne

2. Looking at the Accounts Receivable Turnover ratio across time, Targetappears to be improving ove

3. Looking at the Average Collection Period,Target appears to be improving because the days it needs

4. Looking at the Inventory Turnover, Target appears to be declining the times per year it turns over an

5.Looking at the Days to Sell Inventory, Target appears to be improving in terms of how many days it n

6.Looking at the Net Profit Margin, Target appears to be improving how effectively it is managing all of

7.Looking at the Total Asset Turnover, Target appears to be declining its ability to use all of its assets t

2009
2010
2011
2012
2013
2014
2015
1.6937
1.5024
1.3228
1.5656
1.7872
2.0044
2.2175
8.5208
8.4517
8.8042
8.3906
8.3906
8.3906
8.3906
42.2494
42.5952
40.8896
42.9051
42.9051
42.9051
42.9051
5.8405
5.9827
6.2998
6.4497
6.5786
6.7102
6.8444
61.6391
60.1735
57.1446
55.8169
54.7225
53.6495
52.5975
6.8276%
4.5762%
4.6848%
4.7355%
4.7355%
4.7355%
4.7355%
145.0438% 150.3643% 159.2814% 153.5262% 146.3231% 139.8884% 134.1066%
Explanation
terms of its preparedness to to pay its debt coming due soon with cash from its most liquid assets.

ars to be improving overall, in terms of how many times per year it collects an entire balance of Accounts Recei

ecause the days it needs to collect the entire balance of Accounts Receivable is decreasing, on average.
per year it turns over an entire balance of inventory, on average.

ms of how many days it needs to turn over an entire balance of inventory once, on average.

vely it is managing all of its expenses while generating sales.

to use all of its assets to generate sales.

2016
2.4263
8.3906
42.9051
6.9813
51.5662
4.7355%
128.8841%

assets.

ce of Accounts Receivable, on average.

on average.