Ernie Herrman: 'We are confident that we continue to attract new shoppers in every country we operate in and that there are plenty of opportunities to further grow our customer base going forward.'
— Ernie Herrman, CEO
03Detailed Report
TJX
The TJX Companies Inc
Period
Q4 2025
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 23, 2026
Swipe to view all report sections
Executive Summary
In Q4 2025, TJX Companies Inc (TJX) delivered robust financial results that exceeded market expectations, fueled by a 5% increase in comparable store sales driven by heightened customer transactions across all divisions. With total revenue reaching $16.4 billion, up 5% from the previous year, the company celebrated significant milestones, including surpassing $56 billion in annual sales and the opening of its 5,000th store. Profitability also saw substantial gains; net income grew to $1.398 billion, resulting in a 10% increase in diluted EPS to $1.23. Management highlighted strong gross profit margins at 30.5%, bolstered by effective merchandise flow and operational efficiencies amidst a challenging economic backdrop.
Key Performance Indicators
Revenue
Increasing
16.35B
QoQ: 16.26% | YoY: 31.02%
Gross Profit
Increasing
4.98B
30.45% margin
QoQ: 12.11% | YoY: 33.13%
Operating Income
Increasing
1.85B
QoQ: 9.10% | YoY: 37.84%
Net Income
Increasing
1.40B
QoQ: 7.79% | YoY: 30.65%
EPS
Increasing
1.23
QoQ: 6.96% | YoY: 32.26%
Revenue Trend
Margin Analysis
Financial Highlights
Financial Overview:
- Total Revenue: $16.4 billion (Q4 2025), +5% YoY
- Net Income: $1.398 billion, +10% YoY
- Diluted EPS: $1.23, up from $1.12 adjusted for last year
- Gross Profit Margin: 30.5%, up 100 basis points YoY
- Operating Income Margin: 11.2%, up by 70 basis points from last year
Operational Efficiency Metrics:
- SG&A Expense Ratio: 19.2%, up 30 basis points; reflects strategic investment in personnel
- Pretax Profit Margin: 11.6%, driven by lower shrink rates andexpense leverage.
- Return on Equity (ROE): 16.7%
- Debt to Equity Ratio: 1.522, indicating manageable leverage despite market uncertainties.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
16.35B
31.02%
16.26%
Gross Profit
4.98B
33.13%
12.11%
Operating Income
1.85B
37.84%
9.10%
Net Income
1.40B
30.65%
7.79%
EPS
1.23
32.26%
6.96%
Key Financial Ratios
Gross Profit Margin
Fair
30.50%
Gross profit margin is moderate, room for improvement in cost management
Operating Profit Margin
Fair
11.30%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Fair
8.55%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Fair
4.40%
Return on assets is acceptable but below top-tier companies
Return on Equity
Good
16.70%
Return on equity shows solid performance and effective asset utilization
Current Ratio
Adequate
1.18
Current ratio meets minimum requirements but limited cushion
Debt to Equity
High Risk
1.52
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
Growth
25.40x
Elevated P/E suggests growth expectations or premium valuation
Price to Book
High Premium
16.92x
Very high premium suggests asset-light business model or lofty expectations
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.