The TJX Companies, Inc. (TJX)
Fair ValueFundamental
70
Price
$145.06
Market Cap
$162.76B
Part 1 · What the company is worth
Overview
TJX runs off-price retail chains — T.J. Maxx, Marshalls, HomeGoods, Sierra, Winners, TK Maxx and others — that sell name-brand clothing, home goods and accessories at 20% to 60% below regular retail prices. It buys inventory opportunistically from manufacturers with excess stock, cancelled orders or overruns, rather than commissioning goods to order, and turns that merchandise over quickly across thousands of stores in the United States, Canada and Europe.
How it makes money
Revenue comes from selling merchandise at the register, with profitability driven less by markup on any single item and more by buying deeply discounted goods and moving them fast enough that inventory rarely sits idle or needs markdowns. Store leases are typically short and flexible compared with full-price chains, letting TJX expand, relocate or close locations without the long-term commitments that weigh on traditional retailers.
Revenue by segment
T.J. Maxx and Marshalls stores in the United States, TJX's largest and oldest chain group.
US home decor, furniture and housewares stores, including the combined HomeGoods/Homesense format.
TK Maxx and Homesense stores across Europe, plus TJX's operations in Australia.
Winners, HomeSense and Marshalls stores across Canada.
What drives demand
Moderately cyclicalOff-price retail tends to hold up better than full-price retail in a downturn, since value-seeking shoppers trade down to it, but it is not immune to weak consumer spending overall. Results also depend on execution rather than the economy alone: the company must keep finding enough attractively priced, in-demand merchandise to fill its stores, and trade tariffs on imported goods add a cost pressure it does not fully control.
Key risks
- Execution of the opportunistic buying strategy — The off-price model depends on opportunistic buying, lean inventories and frequent merchandise turns; failing to execute this strategy or manage inventory well could adversely affect results.
- Tariffs and trade policy — Changes in trade policies and tariffs could adversely affect operations, with continued uncertainty around the impact on direct and indirect imports, vendor and competitor pricing, and tariff pass-throughs.
- Cybersecurity incidents — The company flags a heightened risk of cybersecurity incidents tied to geopolitical events, in an increasingly demanding regulatory environment where a compromise could bring regulatory enforcement, class actions or contract liability.
- Competition and macroeconomic uncertainty — The filing cites intense competition, global sourcing and supply chain complexity, labor costs and macroeconomic and geopolitical uncertainty among the extensive risk factors affecting the business.
Written by the editors, published on August 18, 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance Sheet & Liquidity
Revenue
$62.36B
Trailing 12 months (through 8/1/2026)
Net Income
$6.07B
Trailing 12 months (through 8/1/2026)
Free Cash Flow
$4.92B
Total Equity
$10.19B
Total Liabilities
$25.58B
Current Ratio
1.15
Interest Coverage
-
Debt/EBITDA
1.61
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$190.64
Current Price
$145.06
Margin of Safety
+23.9%
Fair Value Range
$123.92 - $257.37
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
26.86
ROE
53.9%
P/B Ratio
14.98
P/FCF
27.15
Gross Margin
32.0%
ROIC
-
Profitability Radar
Value Creation (Economic Moat)
ROIC
-
WACC
7.4%
ROIC − WACC
-
Fundamental Analysis Criteria
Passed (19)
- EPS shows upward trend
- EPS CAGR 6.16%
- Price CAGR 13.36%
- Gross margin 32.0%
- P/FCF 27.15
- Debt/equity ratio
- Positive free cash flow
- Current ratio
- Debt/EBITDA
- Return on tangible assets
- Low reliance on intangibles
- ROE 59.8%
- Revenue growth 5Y 13.4%
- Earnings surprise, average 5.8%
- PEG ratio 0.20
- Earnings quality (operating cash flow / net income) 1.32
- Share dilution -1.2%
- Net margin trend 9.7% vs 8.6%
- Piotroski F-Score 7/9
Failed (4)
- P/B ratio 14.98
- CapEx intensity
- Price below Graham Number
- DCF valuation (Overvalued)
Unavailable (4)
- ROIC –
- Dividend payout –
- Operating margin –
- Interest coverage
Piotroski F-Score
Strong financial health
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Ms. Carol M. Meyrowitz | Executive Chairman | 71 |
| Mr. Ernie L. Herrman | CEO, President & Director | 64 |
| Mr. John Klinger | Senior Executive VP & CFO | 60 |
| Mr. Kenneth Canestrari | Senior EVP & Group President | 63 |
| Mr. Douglas W. Mizzi | Senior EVP & Group President | 65 |
| Mr. Bernard Cammarata | Founder & Executive Advisor | 85 |
| Mr. Jeff Botte | Vice President of Investor Relations | - |
| Ms. Alicia C. Kelly | Executive VP, Secretary & General Counsel | - |
| Ms. Debra McConnell | Senior Vice President of Global Communications | - |
| Peter Benjamin | Senior EVP & Group President | 62 |
Audit Risk
9
Board Risk
6
Compensation Risk
7
Shareholder Rights Risk
4
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-03-31
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-28
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-10-20
via SEC EDGAR
Income History
via SEC EDGAR
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much TJX moves, measured on its daily prices.
More volatile than 18% of the tracked stocks (90-day volatility).
- Volatility 30d
- 20.5%
- Volatility 90d
- 24.0%
- Beta vs S&P 500 (1y)
- 0.11Correlation 0.07
- Max drawdown (12m)
- -27.1%
- ATR (14d, % of price)
- 1.84%
Earnings reactions
How TJX moved around its past quarterly results.
Next earnings release
Nov 18, 2026 · In 25 days · Before the open
EPS estimate: 1.34Revenue estimate: $15.9B
What usually happens
- Over the last 12 releases the stock moved a median of 2.8% the next day, up or down.
- Next-day moves: up 8, down 4 (out of 12).
Release history
| Date | When | EPS est. | EPS actual | Surprise | Gap | 1 day | 5 days |
|---|---|---|---|---|---|---|---|
| Aug 19, 2026 | Before the open | 1.03 | 1.19 | +15.9% | -4.4% | -4.2% | -7.5% |
| May 20, 2026 | Before the open | 1.40 | 1.43 | +1.9% | +1.5% | +5.7% | +4.2% |
| Feb 25, 2026 | Before the open | 1.23 | 1.28 | +3.7% | -0.1% | -1.2% | +1.3% |
| Nov 19, 2025 | Before the open | n/a | n/a | n/a | +3.4% | +0.2% | +4.7% |
| Aug 20, 2025 | Before the open | n/a | n/a | n/a | +6.6% | +2.7% | +1.5% |
| May 21, 2025 | Before the open | n/a | n/a | n/a | -2.8% | -2.9% | -6.5% |
| Feb 26, 2025 | Before the open | n/a | n/a | n/a | +2.6% | +1.8% | -0.8% |
| Nov 20, 2024 | Before the open | n/a | n/a | n/a | -0.1% | +0.2% | +5.6% |
| Aug 21, 2024 | Before the open | n/a | n/a | n/a | +5.8% | +6.1% | +6.0% |
| May 22, 2024 | Before the open | n/a | n/a | n/a | +4.5% | +3.5% | +3.8% |
| Feb 28, 2024 | Before the open | n/a | n/a | n/a | +0.4% | +0.6% | -3.1% |
| Nov 15, 2023 | Before the open | n/a | n/a | n/a | -2.9% | -3.3% | -3.7% |
Release dates from SEC 8-K filings.
Updated 10/24/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Price reaction to the news
Latest news on TJX and what the price did next.
- 5/20/2026PositiveTop Wall Street Forecasters Revamp TJX Expectations Ahead Of Q1 Earnings
- +1 day
- +4.6%
- +3 days
- +3.4%
- 3/27/2026PositiveHow retailers like TJX can actually benefit from higher fuel costs and shipping delays
Published while the US market was open: the move of that day cannot be split into before and after the news, so no figure is shown.
- 3/13/2026Positive$100 Invested In TJX Companies 20 Years Ago Would Be Worth This Much Today
Published while the US market was open: the move of that day cannot be split into before and after the news, so no figure is shown.
- 2/26/2026PositiveTJX Delivers Q4 Beat, Analysts Praise 'Notable MarMaxx Strength'
Published while the US market was open: the move of that day cannot be split into before and after the news, so no figure is shown.
- 2/25/2026NegativeWhy TJX Companies Stock Sank Today
- +1 day
- +2.4%
- +3 days
- +3.6%
- 2/25/2026PositiveOff-Price Retailer TJX Delivers Strong Quarter As Value Shoppers Rush In
Published while the US market was open: the move of that day cannot be split into before and after the news, so no figure is shown.
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.
Latest News
Recent headlines for TJX.
- 6/20/2026NEUTRALTJX Is a Reliable Off-Price Retailer, But for Investors, Is the Premium Too High?
TJX Companies, a leader in the off-price retail sector, continues to report robust financial performance. However, the company faces challenges related to its mature U.S. store base. Investors are evaluating whether the current premium valuation is justified, given the management's imperative to identify and execute new growth avenues beyond its established domestic market. The company's ability to innovate and expand into new territories or product lines will be crucial for sustaining its growth trajectory and shareholder value.
- 5/20/2026NEUTRALTJX Companies Q1 2027 Earnings Call Transcript
TJX Companies Inc. released its Q1 2027 Earnings Call Transcript on May 20, 2026. While the transcript itself is informational, it does not contain forward-looking guidance or specific performance metrics that would immediately impact the stock price. Investors will need to analyze the details within the transcript to gauge management's sentiment on future sales, margins, and strategic initiatives. The absence of new guidance or significant announcements in the provided information suggests a neutral immediate market reaction, pending deeper analysis of the call's content.
- 5/20/2026POSITIVETop Wall Street Forecasters Revamp TJX Expectations Ahead Of Q1 Earnings
TJX Companies (NYSE: TJX) is set to report its Q1 earnings on May 20th, with analysts forecasting earnings per share of $1.00 and revenue of $14.01 billion. Adding to the positive outlook, the company recently announced a significant 13% increase in its stock dividend. This dividend hike, coupled with analyst ratings from major firms like Morgan Stanley (Overweight), Credit Suisse (Outperform), and Deutsche Bank (Buy), suggests strong confidence in TJX's financial performance and future growth prospects. Investors will be closely watching the earnings release for confirmation of these optimistic expectations.
- 3/27/2026POSITIVEHow retailers like TJX can actually benefit from higher fuel costs and shipping delays
The TJX Companies Inc. is poised to benefit from geopolitical disruptions, specifically the ongoing Iran war, which is exacerbating shipping delays and increasing unwanted inventory for full-priced retailers. As an off-price chain, TJX can capitalize on this situation by acquiring excess inventory at discounted prices. This strategic advantage allows TJX to offer compelling value to consumers while potentially improving its margins, positioning the company favorably amidst broader market challenges.
- 3/13/2026POSITIVE$100 Invested In TJX Companies 20 Years Ago Would Be Worth This Much Today
An investment of $100 in TJX Companies (TJX) made 20 years ago would have grown substantially, highlighting the company's long-term performance. While specific figures are not provided in the title, such an article typically details significant capital appreciation and dividend reinvestment, showcasing TJX's consistent growth and market resilience. This suggests strong operational execution and strategic expansion over two decades, making it a potentially attractive stock for investors seeking long-term value and compounding returns. The article implies a robust historical performance that may continue to benefit shareholders.
- 2/26/2026POSITIVETJX Delivers Q4 Beat, Analysts Praise 'Notable MarMaxx Strength'
Shares of The TJX Companies, Inc. surged following the release of its fourth-quarter results, which significantly surpassed analyst expectations for both sales and earnings. The robust performance was notably driven by "MarMaxx Strength," underscoring the solid operational execution of the retail giant. Market analysts responded with widespread optimism, reaffirming positive ratings such as "Overweight" and "Outperform" and subsequently raising their price targets. This positive outlook suggests a favorable environment for investors, indicating effective company management and a market sentiment conducive to further stock appreciation in the near to medium term.
- 2/25/2026NEGATIVEWhy TJX Companies Stock Sank Today
TJX Companies Inc. stock experienced a significant decline today, despite reporting fourth-quarter results that surpassed analyst expectations on both revenue and earnings. Investor concerns were primarily driven by the company's forward-looking guidance, which failed to reassure the market about its near-term growth prospects. This reaction underscores the critical importance investors place on future projections over past performance, particularly in an uncertain economic climate. The negative market sentiment suggests that the outlook provided was perceived as disappointing, overshadowing an otherwise strong current performance.
- 2/25/2026NEUTRALTJX (TJX) Q4 2026 Earnings Call Transcript
Markets Gazette reports the release of the Q4 2026 earnings call transcript for TJX Companies Inc. (TJX) on February 25, 2026. While the specific content of the transcript is not yet available for detailed analysis, the publication of such documents is a standard event in the financial calendar of any publicly traded company. Investors eagerly await details regarding financial performance, future forecasts, and management commentary. Analyzing this data is crucial for assessing the company's operational health, its ability to generate profits, and growth prospects in the off-price retail sector. Market reaction will depend on the interpretation of the results and guidance provided.
- 2/25/2026POSITIVEOff-Price Retailer TJX Delivers Strong Quarter As Value Shoppers Rush In
TJX Companies (NYSE: TJX) has reported exceptional quarterly results, significantly surpassing analyst expectations and driving a notable increase in its stock value. The company further pleased investors by announcing a new share buyback program and a dividend hike, clear indicators of confidence in its financial strength and future prospects. These developments highlight a strong appeal to value-conscious consumers, solidifying TJX's position in the off-price retail sector. Investors should closely monitor the long-term impact of these strategic moves on performance and shareholder returns.