"Comp store sales growth of 3% came in at the high end of our plan, and I'm particularly pleased with operational execution across all of our divisions." - Ernie Herrman, CEO
— Ernie Herrman
03Detailed Report
TJX
The TJX Companies Inc
Period
Q3 2025
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 23, 2026
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Executive Summary
The TJX Companies, Inc. reported robust financial results for Q3 2025, achieving a revenue of $14.06 billion, representing a 4.42% increase compared to the previous quarter despite external challenges such as inclement weather and ongoing supply chain issues. The company’s net income reached $1.297 billion, an 18.02% increase quarter-over-quarter, showing increased profitability driven by strong operational execution and effective cost management. Comp store sales growth of 3% was primarily driven through increased customer transactions across all divisions, with TJX International achieving an impressive 7% increase in comp sales.
Management underscored an optimistic outlook for the holiday season, citing excellent merchandise availability and strategic initiatives to enhance value for customers. They conveyed confidence in continuing to capture market share both in the U.S. and internationally, particularly with growth opportunities in Europe and Australia. Full-year guidance has been raised, reflecting management's positive view of continued strength in revenue and earnings performance.
3. Year-over-Year Performance:
- Revenue increased by 4.42% QoQ and decreased by 14.31% YoY as the company faced tough prior-year comparisons (full-year guidance reflecting growth of 10%).
- Operating Income increased by 19.06% QoQ but down 8.09% YoY, attributed to better expense management in comparison to the previous record highs driven by the pandemic.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
14.06B
-14.31%
4.42%
Gross Profit
4.44B
-9.86%
8.64%
Operating Income
1.69B
-8.09%
19.06%
Net Income
1.30B
-7.56%
18.02%
EPS
1.15
-7.26%
18.56%
Key Financial Ratios
Gross Profit Margin
Fair
31.60%
Gross profit margin is moderate, room for improvement in cost management
Operating Profit Margin
Fair
12.00%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Fair
9.22%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Fair
4.00%
Return on assets is acceptable but below top-tier companies
Return on Equity
Good
15.90%
Return on equity shows solid performance and effective asset utilization
Current Ratio
Adequate
1.19
Current ratio meets minimum requirements but limited cushion
Debt to Equity
High Risk
1.56
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
Fair Value
24.41x
P/E ratio in line with market averages
Price to Book
High Premium
15.50x
Very high premium suggests asset-light business model or lofty expectations
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