# The TJX Companies, Inc. (TJX)

> Source: Nexqual · https://nexqual.com/TJX · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, The TJX Companies, Inc. (TJX), nexqual.com/TJX" · informational, not investment advice.

**Price:** USD 147.38 (+1.28% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 145.52 · day 145.48–147.68 · 52w 122.78–170 · market cap $162B · NYQ

## Key facts
- Last four reported quarters (through Aug 1, 2026): revenue $62.4B, net income $6.07B (9.7% margin), free cash flow $5.88B (SEC filings).
- Valuation: P/E 26.7x (avg 28.6x at the last 3 fiscal year-ends), net cash $3.13B.
- 3 of 80 tracked superinvestors hold TJX (13F, Q2 2026): 2 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $27.7M; 6 not under a Rule 10b5-1 plan ($27.7M); 0 by opportunistic insiders, 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (22 analysts), mean target USD 171.68 (range 136–198).
- Total return with dividends: 1Y +4.8% vs S&P 500 +14.9%; 5Y +146.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-18, EPS estimate USD 1.34, revenue estimate $15.9B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $48.5B | $49.9B | $54.2B | $56.4B | $60.4B | $62.4B |
| Gross profit | $13.8B | $13.8B | $16.3B | $17.2B | $18.7B | — |
| Net income | $3.28B | $3.50B | $4.47B | $4.86B | $5.49B | $6.07B |
| EPS (diluted) | $2.70 | $2.97 | $3.86 | $4.26 | $4.87 | — |
| Free cash flow | $2.01B | $2.63B | $4.33B | $4.20B | $4.92B | $5.88B |
| Gross margin | 28.5% | 27.6% | 30.0% | 30.6% | 31.0% | — |
| Net margin | 6.8% | 7.0% | 8.3% | 8.6% | 9.1% | 9.7% |
| Revenue growth | +51.1% | +2.9% | +8.6% | +4.0% | +7.1% | — |
| Cash + short-term investments | $6.23B | $5.48B | $5.60B | $5.33B | $6.23B | — |
| Total debt | $3.35B | $3.36B | $2.86B | $2.87B | $2.87B | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 1, 2026)
P/E 26.7x · P/S 2.6x · EV/Sales 2.5x · P/FCF 27.6x · P/B 15.2x · FCF yield 3.62% · Earnings yield 3.74% · Dividend yield (paid, TTM) 1.20% · Buyback yield (TTM) 1.72% · Net cash $3.13B · EV $159B
P/E at fiscal year-ends: Jan 2026 30.8x, Feb 2025 29.3x, Feb 2024 25.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold TJX. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Terry Smith | Fundsmith | 2.52% | $344M | New position |
| Jensen Investment Management |  | 1.85% | $76.2M | New position |
| Mairs & Power | Mairs & Power Funds | <0.01% | $517K | Added +3.0% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-11 | Nemerov Jackwyn | Director | 957 | $161K | 54.4% | No | Too little history (no open-market trades in 2023) |
| 2026-06-10 | Benjamin Peter | SEVP, Group President | 10,926 | $1.8M | 6.7% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-09 | Meyrowitz Carol | Executive Chairman | 55,624 | $9.1M | 21.6% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-06-05 | Klinger John | SEVP, CFO | 6,235 | $1.0M | 8.8% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-03…2026-06-05 | Herrman Ernie | CEO & President | 67,551 | $10.7M | 11.6% | No | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
| 2026-06-03 | Canestrari Kenneth | SEVP - Group President | 31,447 | $5.0M | 22.6% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 22 analysts; mean target USD 171.68 (low 136, high 198).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Wolfe Research | Initiated | Peer Perform |  |
| 2026-08-26 | Jefferies | Downgrade | Buy → Hold | $180 → $145 |
| 2026-08-20 | Citigroup | Downgrade | Buy → Neutral | $182 → $154 |
| 2026-08-20 | Morgan Stanley | Target lowered | Overweight | $181 → $178 |
| 2026-08-20 | UBS | Target raised | Buy | $197 → $198 |
| 2026-08-20 | BTIG | Reiterated | Buy | $190 |
| 2026-08-20 | Barclays | Target lowered | Overweight | $190 → $188 |
| 2026-08-20 | Wells Fargo | Target lowered | Equal-Weight | $160 → $140 |
| 2026-08-20 | Evercore ISI Group | Target lowered | Outperform | $175 → $173 |
| 2026-08-20 | Gordon Haskett | Downgrade | Buy → Accumulate | $155 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +4.8% | +146.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +4.8% | +19.8% |
| Volatility (annualized) | 21.3% | 21.1% |
| Max drawdown | -26.8% (Jun 2026→Sep 2026) | -25.5% (Dec 2021→Jun 2022) |

## Peers (Apparel Retail)
ROST (Ross Stores, Inc.) USD 236.67 +1.06% · BURL (Burlington Stores, Inc.) USD 252.62 +1.81% · LULU (lululemon athletica inc.) USD 104.06 +7.80% · GAP (Gap, Inc. (The)) USD 22.91 +0.97% · URBN (Urban Outfitters, Inc.) USD 88.29 +1.53% · VSXY (Victorias Secret & Co.) USD 88.42 -0.82%

## More
Full page: https://nexqual.com/TJX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-08-01)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Marmaxx | $9.11B | 60.0% | +3.0% | $1.42B | 15.6% |
| HomeGoods | $2.51B | 16.5% | +9.7% | $441.0M | 17.6% |
| TJX International | $2.09B | 13.8% | +10.6% | $135.0M | 6.4% |
| TJX Canada | $1.47B | 9.7% | +6.4% | $229.0M | 15.6% |
| Total revenue | $15.18B | 100% | — | $2.23B | 14.7% |

## Company outlook (8-K filed 2026-08-19)

- "In the third quarter of Fiscal 2027, the Company expects to receive additional IEEPA tariff refunds, which it expects to benefit the Company's third quarter Fiscal 2027 cost of sales."
- "Due to these expected tariff refunds, the Company expects to accrue incremental expense for year-end incentive compensation and discretionary bonuses that will impact the Company's third quarter Fiscal 2027 cost of sales and SG&A costs."
- "The Company expects pretax profit margin to be in the range of 12.8% to 12.9%."
- "Excluding an expected net benefit of 0.5 percentage points from tariff refunds, the Company expects adjusted pretax profit margin to be in the range of 12.3% to 12.4%."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $1.34 | $1.34 | -0.2% | $15.88B | 17 |
| Next quarter (ends 2027-01-31) | $1.49 | $1.50 | -0.6% | $18.62B | 16 |
| Current fiscal year (ends 2027-01-31) | $5.25 | $5.23 | +0.4% | $64.02B | 19 |
| Next fiscal year (ends 2028-01-31) | $5.77 | $5.76 | +0.2% | $67.99B | 19 |