The TJX Companies, Inc. (TJX)财务
NYSE · Consumer Cyclical · Apparel - Retail · 员工377,000人 · CEO Ernie L. Herrman
- 股价
- $140.28 -0.79%
- 市值
- $1540亿
- 企业价值
- $1630亿
- 最近财报
- Q2 '27 2026-08-28提交
- 下次财报
- 2026-11-18 EPS预期 $1.34
营收(TTM)$624亿+7.7% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)12.8%+1.6 百分点 对比去年同期营业利润 $80亿
净利润(TTM)$60.7亿+22.0% 对比去年同期税后,含营业外收益
自由现金流(TTM)$58.8亿+45.4% 对比去年同期资本支出 $21.6亿
稀释EPS(TTM)$5.41+23.2% 对比去年同期最近4个季度之和
净现金-$83.1亿+2.0% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1540亿 EV $1630亿
- 营收
- $624亿 过去12个月
- 营收增速
- +6% FY2027年一致预期
- 净利润率
- 9.7% 净利润 / 营收,TTM
- P/E
- 25.9× 预期 26.7×(FY2027)
- P/S
- 2.5× 股价 / 营收,TTM
- EV / EBITDA
- 17.9× TTM
- 自由现金流
- $58.8亿 过去12个月
- 净利润
- $60.7亿 过去12个月
- 营收预期
- $640亿 FY2027年一致预期
- 盈利
- 2026-11-18 营收预期 $159亿
- 股息
- $1.81 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-19):营收符合预期,EPS 超预期2.5%营收$152亿,预期$152亿(+0.1%);EPS $1.22,预期$1.19(+2.5%)。
- 营收增长放缓:同比5.4%Q2 '27营收$152亿,此前四个季度的平均值为8.0%。
- 营业利润率12.8%(TTM),较去年同期+1.6 百分点营收增长7.7%,营业利润增长23.5%。
- 资本支出占营收的3.5%(去年为3.3%)最近4个季度投入$21.6亿(同比+13.9%)。自由现金流$58.8亿,相当于净利润的96.9%。
- 股东回报$47.5亿 = 自由现金流的80.8%回购$28亿(去年为$25.9亿),股息$19.5亿,股权激励$1.8亿(TTM)。
- 稀释股数一年内减少1.0%Q2 '27稀释股数11.2亿,一年前为11.3亿。
- 净债务 $83.1亿现金 + 短期投资 $60亿,含租赁债务 $143亿;一年前净债务 $84.8亿。
上一季度:Q2 '27
截至2026-08-01的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '27 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $152亿 | $144亿 | +5.4% |
| 毛利率 | 33.4% | 30.7% | +2.7 百分点 |
| 营业利润 | $19.9亿 | $16.2亿 | +22.7% |
| 营业利润率 | 13.1% | 11.2% | +1.8 百分点 |
| 净利润 | $15.2亿 | $12.4亿 | +22.3% |
| 稀释EPS | $1.36 | $1.10 | +23.6% |
| 经营现金流 | $22.3亿 | $17.9亿 | +24.3% |
| 资本支出 | $4.97亿 | $4.61亿 | +7.8% |
| 自由现金流 | $17.3亿 | $13.3亿 | +30.0% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $4300万 | -100.0% |
实际 vs 一致预期
2026-08-19| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $152亿 | $152亿 | +0.1% |
| EPS(一致预期口径) | $1.22 | $1.19 | +2.5% |
来自2026-08-19发布的Q2 '27财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Marmaxx | $91.1亿 | +3.0% | 60.0% | $375亿 | +6.1% | |
| HomeGoods | $25.1亿 | +9.7% | 16.5% | $106亿 | +9.2% | |
| TJX International | $20.9亿 | +10.6% | 13.8% | $84.1亿 | +11.8% | |
| TJX Canada | $14.7亿 | +6.4% | 9.7% | $58.6亿 | +9.4% |
按地区划分的营收
占总额比例| 分部 | Q2 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| TJX International | $20.9亿 | +10.6% | 58.8% | $101亿 | – | |
| TJX Canada | $14.7亿 | +6.4% | 41.2% | $70亿 | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q2 '27分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Marmaxx | – | – | $14.2亿 | +13.6% | – | – | $58.6亿 |
| Home Goods | – | – | $4.41亿 | +93.4% | – | – | $15.5亿 |
| Tjx Canada | – | – | $2.29亿 | +3.6% | – | – | $7.93亿 |
| TJX International | – | – | $1.35亿 | +36.4% | – | – | $6.09亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $80.3亿
- 资本支出
- -$21.6亿
- 股票回购
- -$28亿
- 股息
- -$19.5亿
- 收购
- $0
- 债务净发行
- $0
- 股权激励费用
- $1.8亿
- 自由现金流
- $58.8亿
- 股东回报 / FCF
- 80.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 25.9× | 27.5× | 24.3× – 30.6× |
| EV / EBITDA | 17.9× | 18.4× | 16.5× – 20.6× |
| EV / 营收 | 2.6× | 2.3× | 1.9× – 2.9× |
| 股价 / FCF | 26.3× | 34.4× | 25.1× – 42.9× |
| 股价 / 净资产 | 14.7× | 15.5× | 14.4× – 16.8× |
| FCF收益率 | 3.8% | 3.0% | 2.3% – 4.0% |
| 投入资本回报率 | 22.8% | 19.9% | 18.1% – 21.5% |
| 净资产收益率 | 59.8% | 56.6% | 53.9% – 61.3% |
分析师
一致目标价 $174.15 (+24.1%)
区间 $145.00 – $198.00 · 评级 Buy
强烈买入1
买入44
持有7
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $640亿 | +6.0% | $5.26 | +7.7% | 26.7× | 13 |
| FY2028 | $680亿 | +6.2% | $5.75 | +9.5% | 24.4× | 13 |
| FY2029 | $730亿 | +7.5% | $6.46 | +12.3% | 21.7× | 6 |
| FY2030 | $755亿 | +3.4% | $6.85 | +6.0% | 20.5× | 2 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
The TJX Companies, Inc.在近期10-Q / 10-K文件中标记的全部243项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $50.2亿 | $47亿 | +6.9% | $45.8亿 | $42.6亿 | +7.5% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $6.65亿 | $6亿 | +10.8% | $6.02亿 | $5.49亿 | +9.7% |
| Accrued Income Taxes, Current | $2.5亿 | $1.65亿 | +51.5% | $1.7亿 | $7500万 | +126.7% |
| Accrued Liabilities and Other Liabilities | $53.7亿 | $47.8亿 | +12.5% | $58.9亿 | $50.4亿 | +16.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$4.16亿 | -$4.45亿 | +6.5% | -$3.51亿 | -$6.09亿 | +42.4% |
| Additional Paid in Capital, Common Stock | $0 | $0 | – | $0 | $0 | – |
| Advertising Expense | – | – | – | $6.8亿 | $6.17亿 | +10.2% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 300万 | 400万 | -25.0% | 300万 | 400万 | -25.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $4300万 | $4300万 | 0.0% | $2.14亿 | $1.83亿 | +16.9% |
| Asset Retirement Obligations, Noncurrent | $9000万2026-01-31 | $8100万 | +11.1% | $9000万 | $8100万 | +11.1% |
| Assets | $371亿 | $329亿 | +12.9% | $358亿 | $317亿 | +12.7% |
| Assets, Current | $153亿 | $133亿 | +15.4% | $152亿 | $130亿 | +17.0% |
| Capital Expenditures Incurred but Not yet Paid | -$200万 | $5500万 | -103.6% | – | – | – |
| Cash and Cash Equivalents, at Carrying Value | $60亿 | $46.4亿 | +29.4% | $62.3亿 | $53.4亿 | +16.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $60亿 | $46.4亿 | +29.4% | $62.3亿 | $53.4亿 | +16.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $4.24亿 | $3.84亿 | +10.4% | $8.95亿 | -$2.65亿 | +437.7% |
| Common Stock, Dividends, Per Share, Declared | $0.48 | $0.43 | +12.9% | $1.70 | $1.50 | +13.3% |
| Common Stock, Par or Stated Value Per Share | $1.00 | $1.00 | 0.0% | $1.00 | $1.00 | 0.0% |
| Common Stock, Shares Authorized | 18亿 | 18亿 | 0.0% | 18亿 | 18亿 | 0.0% |
| Common Stock, Shares, Issued | 11亿 | 11.1亿 | -1.0% | 11.1亿 | 11.2亿 | -1.1% |
| Common Stock, Shares, Outstanding | 11亿 | 11.1亿 | -1.0% | 11.1亿 | 11.2亿 | -1.1% |
| Common Stock, Value, Issued | $11亿 | $11.1亿 | -1.1% | $11.1亿 | $11.2亿 | -1.1% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $14.8亿 | $12.6亿 | +16.9% | $57.5亿 | $47.9亿 | +20.2% |
| Contract with Customer, Liability | $8.25亿 | $7.74亿 | +6.6% | $8.97亿 | $8.24亿 | +8.9% |
| Cost of Goods and Services Sold | $101亿 | $99.8亿 | +1.3% | $417亿 | $391亿 | +6.6% |
| Current Federal Tax Expense (Benefit) | – | – | – | $10.2亿 | $10.1亿 | +1.3% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $3.21亿 | $2.44亿 | +31.6% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $3.51亿 | $3.38亿 | +3.8% |
| Debt Instrument, Unamortized Discount | $300万2026-01-31 | $400万 | -25.0% | $300万 | $400万 | -25.0% |
| Debt Issuance Costs, Net | $800万 | $1100万 | -27.3% | $900万 | $1100万 | -18.2% |
| Decrease in Unrecognized Tax Benefits is Reasonably Possible | $2800万2025-11-01 | $2300万 | +21.7% | $2900万2025-02-01 | $4300万 | -32.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $9000万 | $900万 | +900.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $2300万 | $500万 | +360.0% |
| Deferred Income Tax Assets, Net | $1.46亿 | $1.42亿 | +2.8% | $1.47亿 | $1.48亿 | -0.7% |
| Deferred Income Tax Expense (Benefit) | $2000万 | $6300万 | -68.3% | $1.12亿 | $2800万 | +300.0% |
| Deferred Income Tax Liabilities, Net | $3.33亿 | $2.17亿 | +53.5% | $2.68亿 | $1.56亿 | +71.8% |
| Deferred Income Taxes and Other Assets, Current | $1.47亿2026-01-31 | $1.48亿 | -0.7% | $1.47亿 | $1.48亿 | -0.7% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$200万 | $1400万 | -114.3% |
| Deferred Tax and Other Liabilities, Noncurrent | $2.68亿2026-01-31 | $1.56亿 | +71.8% | $2.68亿 | $1.56亿 | +71.8% |
| Deferred Tax Assets, Gross | $37.2亿2026-01-31 | $34.5亿 | +7.7% | $37.2亿 | $34.5亿 | +7.7% |
| Deferred Tax Assets, Net of Valuation Allowance | $36.6亿2026-01-31 | $34亿 | +7.6% | $36.6亿 | $34亿 | +7.6% |
| Deferred Tax Assets, Operating Loss Carryforwards | $9200万2026-01-31 | $1.04亿 | -11.5% | $9200万 | $1.04亿 | -11.5% |
| Deferred Tax Assets, Other | $1500万2026-01-31 | $2000万 | -25.0% | $1500万 | $2000万 | -25.0% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $4.66亿2026-01-31 | $3.92亿 | +18.9% | $4.66亿 | $3.92亿 | +18.9% |
| Deferred Tax Assets, Valuation Allowance | $5800万2026-01-31 | $5100万 | +13.7% | $5800万 | $5100万 | +13.7% |
| Deferred Tax Liabilities, Gross | $37.8亿2026-01-31 | $34.1亿 | +10.9% | $37.8亿 | $34.1亿 | +10.9% |
| Deferred Tax Liabilities, Intangible Assets | $2500万2026-01-31 | $2400万 | +4.2% | $2500万 | $2400万 | +4.2% |
| Deferred Tax Liabilities, Inventory | $7900万2026-01-31 | $7300万 | +8.2% | $7900万 | $7300万 | +8.2% |
| Deferred Tax Liabilities, Net | $1.21亿2026-01-31 | $800万 | +1,412.5% | $1.21亿 | $800万 | +1,412.5% |
| Deferred Tax Liabilities, Other | $600万2026-01-31 | $500万 | +20.0% | $600万 | $500万 | +20.0% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $9.16亿2026-01-31 | $7.42亿 | +23.5% | $9.16亿 | $7.42亿 | +23.5% |
| Deferred Tax Liabilities, Undistributed Foreign Earnings | $2800万2026-01-31 | $2300万 | +21.7% | $2800万 | $2300万 | +21.7% |
| Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $600万2026-01-31 | $800万 | -25.0% | $600万 | $800万 | -25.0% |
| Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year | $600万 | $800万 | -25.0% | – | – | – |
| Defined Benefit Plan, Plan Assets, Amount | $15.2亿2026-01-31 | $14.5亿 | +5.0% | $15.2亿 | $14.5亿 | +5.0% |
| Defined Benefit Plan, Plan Assets, Contributions by Employer | – | – | – | $500万 | $400万 | +25.0% |
| Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | – | – | – | 50.0% | 50.0% | 0.0% |
| Depreciation | $3.39亿 | $3.07亿 | +10.4% | $8.19亿2019-02-02 | $7.26亿 | +12.8% |
| Depreciation, Depletion and Amortization | $3.4亿 | $3.08亿 | +10.4% | $12.5亿 | $11亿 | +13.0% |
| Depreciation, Nonproduction | – | – | – | $12亿 | $11亿 | +9.1% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-08-01, 10-Q 2026-05-02, 10-K 2026-01-31, 10-Q 2025-11-01, 10-Q 2025-08-02, 10-Q 2025-05-03, 10-K 2025-02-01, 10-Q 2024-11-02, 10-Q 2024-08-03
数据截至 2026-11-01