Target vs TotalEnergies: Revenue, Profit and Business Model
Target reported $104.8B of revenue in FY2025 and $3.7B of net income. TotalEnergies reported $201.2B of revenue in FY2025 and $13.1B of net income.
Latest financial snapshot
Target
- Latest revenue
- $104.8B (FY2025)
- Net income
- $3.7B
- Net margin
- 3.5%
- Revenue growth
- +4.5% a year, FY2016–FY2025
TotalEnergies
- Latest revenue
- $201.2B (FY2025)
- Net income
- $13.1B
- Net margin
- 6.5%
- Revenue growth
- +5.2% a year, FY2016–FY2025
Financial summary
Target
Target's revenue fell three years in a row, from $109.1 billion in fiscal 2022 to $104.8 billion in fiscal 2025, while FY2025 net income was $3.705 billion. Fiscal 2026 has reversed the trend so far. Q2 FY2026 net sales rose 5.3% to $26.5 billion, comparable sales grew 3.8% on a 3.6% traffic gain, and digital comparable sales rose 8.7% with same-day delivery up more than 25%. Q2 GAAP EPS was $4.11 versus $2.05 a year earlier, but $1.65 of that came from $994 million of pretax tariff refunds; excluding refunds, EPS grew about 20%. Management now guides to roughly 5% net sales growth for fiscal 2026 and EPS of $9.90 to $10.90.
TotalEnergies
TotalEnergies' 2025 results showed how much its earnings still track oil prices. Revenues from sales fell to $182.344 billion (total revenues including excise taxes of $201.2 billion), adjusted net income dropped 15% to $15.6 billion and IFRS net income attributable to shareholders was $13.1 billion. Cash flow slipped only 7% to nearly $28 billion because upstream production grew about 4%. Gearing ended 2025 at 15%, ROACE was 12.6% and the 2025 dividend rose 5.6% to €3.40 per share. In 2026, higher crude prices linked to the Middle East conflict reversed the trend: second-quarter adjusted net income reached $6.0 billion, cash flow $9.8 billion and first-half adjusted net income about $11.4 billion.
Revenue and profit by year
Target
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $104.8B | $3.7B | 3.5% | -1.7% | Source |
| FY2024 | $106.6B | $4.1B | 3.8% | -0.8% | Source |
| FY2023 | $107.4B | $4.1B | 3.9% | -1.6% | Source |
| FY2022 | $109.1B | $2.8B | 2.5% | +2.9% | Source |
| FY2021 | $106B | $6.9B | 6.6% | +13.3% | Source |
| FY2020 | $93.6B | $4.4B | 4.7% | +19.8% | Source |
| FY2019 | $78.1B | $3.3B | 4.2% | +3.7% | Source |
| FY2018 | $75.4B | $2.9B | 3.9% | +3.6% | Source |
| FY2017 | $72.7B | $2.9B | 4.0% | +3.5% | Source |
| FY2016 | $70.3B | $2.7B | 3.9% | — | Source |
TotalEnergies
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $201.2B | $13.1B | 6.5% | -6.2% | Source |
| FY2024 | $214.6B | $15.8B | 7.3% | -9.5% | Source |
| FY2023 | $237.1B | $21.4B | 9.0% | -15.6% | Source |
| FY2022 | $281B | $20.5B | 7.3% | +36.5% | Source |
| FY2021 | $205.9B | $16B | 7.8% | +46.3% | Source |
| FY2020 | $140.7B | -$7.2B | -5.1% | -29.8% | Source |
| FY2019 | $200.3B | $11.3B | 5.6% | -4.3% | Source |
| FY2018 | $209.4B | $11.4B | 5.5% | +40.4% | Source |
| FY2017 | $149.1B | $8.6B | 5.8% | +16.6% | Source |
| FY2016 | $127.9B | $6.2B | 4.8% | — | Source |
Where the revenue comes from
Target
- Stores and digital merchandise
Primary revenue source
Sales of food, essentials, apparel, beauty, home, electronics, toys and seasonal products through stores and digital channels.
- Owned brands
Strategic margin driver
Target-owned and exclusive brands that support margin and differentiation.
- Same-day services and Shipt
Growth and retention stream
Delivery, pickup, Drive Up and Target Circle 360 services that deepen loyalty.
- Roundel retail media
High-margin supplemental stream
Advertising revenue from brands using Target's retail media network.
TotalEnergies
- Exploration & Production
Not disclosed here
Sales of crude oil and gas from about 2.5 million boe per day of 2025 production.
- Integrated LNG
Not disclosed here
Liquefaction, shipping, trading and sale of LNG and gas under long-term and spot contracts.
- Integrated Power
Not disclosed here
Wholesale and retail electricity from renewables, gas-fired plants and storage, plus retail gas supply.
- Refining & Chemicals
Not disclosed here
Refined fuels, polymers and petrochemicals from integrated industrial platforms.
- Marketing & Services
Not disclosed here
Retail and B2B sales of fuels, lubricants, aviation fuel and EV charging.
Business model and strategy
Target
How it makes money
Target runs a general-merchandise, big-box retail model that pairs low-margin essentials (groceries, household basics) to drive store traffic with higher-margin discretionary categories (apparel, home decor, and private-label brands) to drive profit -- the classic 'basket size' strategy.
Growth strategy
Target is focusing on merchandising authority, guest experience, technology acceleration, team and community strength, stores-as-hubs, same-day fulfillment, retail media and owned-brand renewal.
Competitive advantage
Target's advantage is the mix of curated merchandise, owned brands, convenient stores, same-day fulfillment and a brand position between discount utility and design-led retail.
TotalEnergies
How it makes money
TotalEnergies makes money across five reporting segments. Exploration & Production sells crude oil and gas from about 2.5 million barrels of oil equivalent per day of output. Integrated LNG liquefies, ships, trades and sells gas from projects in Qatar, the U.S., Nigeria, Australia, Papua New Guinea and elsewhere.
Growth strategy
TotalEnergies' strategy centers on low-cost oil and gas production, LNG integration, disciplined downstream operations, renewable power capacity, electricity customers, and cash returns to shareholders.
Competitive advantage
TotalEnergies has an integrated LNG platform, upstream assets across multiple basins, downstream and marketing positions, and a growing power portfolio. Its advantage is breadth across molecules, refined products, and electrons.
Questions about Target vs TotalEnergies
Which company has higher revenue — Target Corporation or TotalEnergies SE?
Target Corporation reported $104.8B (FY2025), while TotalEnergies SE reported $201.2B (FY2025). By last reported revenue, TotalEnergies SE is the larger business, with Target Corporation reporting a smaller revenue base.
What is the market cap of Target Corporation vs TotalEnergies SE?
Target Corporation's market capitalisation stands at $72.0B, while TotalEnergies SE's is $205.0B. TotalEnergies SE carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Target Corporation.
Which is more financially efficient — Target Corporation or TotalEnergies SE?
Target Corporation generates $252k / employee in revenue per employee, while TotalEnergies SE generates $2.01M / employee. TotalEnergies SE shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Target Corporation and TotalEnergies SE make money?
Target Corporation and TotalEnergies SE generate revenue in fundamentally different ways. Target Corporation: Target runs a general-merchandise, big-box retail model that pairs low-margin essentials (groceries, household basics) to drive store traffic with higher-margin discretionary categories (apparel, home decor, and private-label brands) to drive profit -- the classic 'basket size' strategy. TotalEnergies SE: TotalEnergies makes money across five reporting segments.
Which company is valued higher relative to revenue — Target Corporation or TotalEnergies SE?
On a price-to-sales (P/S) basis, Target Corporation trades at 0.7x P/S and TotalEnergies SE at 1.0x P/S. TotalEnergies SE commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Target Corporation. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Target Corporation bigger than TotalEnergies SE?
By last reported revenue, TotalEnergies SE ($201.2B (FY2025)) is the larger company compared to Target Corporation ($104.8B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Target vs TotalEnergies overview