Consumer Discretionary · Apparel Retail · US stock · price as of 16 Oct 2026
Key indicators
Price
$147.33
52-week range
$122.78 – $169.47
Market cap
$164.6B
P/E (trailing)
27.3×
EV / EBITDA
17.2×
Free-cash-flow yield
3.6%
Dividend yield
1.2%
Revenue (last 12 months)
$62.4B
Revenue growth (3y a year)
6.5%
Operating margin
12.9%
Return on invested capital
80.7%
Net debt / EBITDA
-0.3×
Fair value
Blended fair value$165.93 range $155 – $178
Versus priceFair+13% to fair value
Peer multiples
$116.46
Fundamentals-adjusted multiple
$175.47
10-year DCF (market-scaled)
$205.86
Earnings power value (floor, not blended)
$51.54
Model uncertainty
Medium
X-Ray Score
58/ 100 · High confidence · ahead of 77% of sector peers
Valuation39
Growth61
Profitability66
Financial health71
Dividends50
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
TJX Companies is an off-price retailer of apparel and home goods, operating chains such as T.J. Maxx, Marshalls, HomeGoods and Sierra, along with international banners. It buys branded merchandise from many vendors at reduced prices, including surplus and closeout goods, and sells it at lower prices than traditional stores. The company earns money from retail sales, and its treasure-hunt shopping style relies on constantly changing inventory.
The company reported twelve-month revenue of $62.4 billion, which expanded at 6.5% a year across the last three years. It earned an operating margin of 12.9%, and it generated a return on invested capital of 81%. Net debt to EBITDA is -0.3 times, which means the company holds more cash than debt. The dividend yield is 1.2%.
StocksXray gives Tjx Companies Inc an X-Ray Score of 58 out of 100 (high confidence), ahead of 77% of the S&P 500 stocks in its sector. Its strongest lens is financial health (71) and its weakest is valuation (39).
Our fair value blend is $165.93 (range $155.43 to $178.25). At $147.33 the stock trades 11% below that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Tjx Companies Inc (TJX)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
FY2026
Now
Price
$66.65
$77.84
$94.13
$122.13
$148.43
$147.33
Market cap
$81.0B
$91.7B
$109.1B
$139.5B
$167.4B
$164.6B
P/E
24.7×
26.2×
24.4×
28.7×
30.5×
27.3×
EV / revenue
1.6×
1.8×
2.0×
2.4×
2.7×
2.6×
EV / EBITDA
14.5×
16.0×
15.2×
17.9×
19.0×
17.2×
Price / free cash flow
40.3×
34.9×
25.2×
33.2×
34.1×
28.0×
Free-cash-flow yield
2.5%
2.9%
4.0%
3.0%
2.9%
3.6%
Price / book
13.5×
14.4×
14.9×
16.6×
16.4×
15.5×
Dividend yield
1.56%
1.52%
1.41%
1.23%
1.15%
1.23%
Fundamentals checklist ● 6 Good · ● 9 Average · ● 1 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−5.3%Average
Free-cash-flow yield3.6%Bad
Risk models
Altman Z score3.1×Average
Piotroski F-Score7 of 9Good
Growth
EPS growth (3y)17.9%Good
Free-cash-flow growth (3y)23.2%Good
Revenue growth (3y)6.5%Average
Growth consistency90%Average
Balance sheet
Current ratio1.1×Average
Net debt / EBITDA-0.3×Good
Interest coverno interest costGood
Valuation
Fair value vs price1.1×Average
EBIT / EV yield5.0%Average
Profitability
Return on invested capital80.7%Good
Operating margin12.9%Average
Gross profitability53.8%Average
XStocksXray
Tjx Companies Inc (TJX)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
FY26
LTM
Revenue
48,550
49,936
54,217
56,360
60,372
62,363
Gross profit
13,836
13,787
16,266
17,248
18,693
19,955
Operating income
4,521
4,727
6,049
6,561
7,378
8,045
Net income
3,283
3,498
4,474
4,864
5,494
6,067
Diluted EPS ($)
2.70
2.97
3.86
4.26
4.87
5.40
Free cash flow
2,012
2,627
4,335
4,198
4,917
5,876
Gross margin
28.5%
27.6%
30.0%
30.6%
31.0%
32.0%
Operating margin
9.3%
9.5%
11.2%
11.6%
12.2%
12.9%
Net margin
6.8%
7.0%
8.3%
8.6%
9.1%
9.7%
Balance sheet
FY22
FY23
FY24
FY25
FY26
LTM
Total assets
28,461
28,349
29,747
31,749
35,767
37,115
Cash
6,227
5,477
5,600
5,335
6,230
6,004
Total debt
3,355
3,359
2,862
2,866
2,869
2,871
Equity
6,003
6,364
7,302
8,393
10,190
10,651
Dividend per share ($)
1.04
1.18
1.33
1.50
1.70
1.81
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.