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Target vs Volkswagen: Revenue, Profit and Business Model

Target reported $104.8B of revenue in FY2025 and $3.7B of net income. Volkswagen reported ~$363.8B of revenue in FY2025 and ~$7.5B 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

Volkswagen

Latest revenue
~$363.8B (FY2025)
Net income
~$7.5B
Net margin
2.1%
Revenue growth
+6.5% a year, FY2021–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.

Volkswagen

Volkswagen Group reported ~$364 billion (EUR 321.9 billion) in 2025 sales revenue, slightly below ~$367 billion (EUR 324.7 billion) in 2024, and an operating result of ~$10.1 billion (EUR 8.9 billion), a 2.8% margin. Earnings were held down by U.S. tariffs, restructuring provisions, the cost of Porsche's product strategy change, and weaker results from the Chinese joint ventures. Deliveries were broadly stable at 8.984 million vehicles. The December 2024 agreement with IG Metall for the Volkswagen brand in Germany avoids compulsory redundancies but plans to cut more than 35,000 jobs by 2030 through attrition and early retirement, and to reduce German plant capacity. In the first half of 2026 sales revenue was about $179 billion (EUR 158.1 billion), roughly flat, while the operating result fell 11.6% to about $6.67 billion (EUR 5.9 billion) (3.8% margin). In September 2026 Volkswagen cut its full-year forecast to about $356 billion (EUR 315 billion) in sales revenue and an operating margin of up to 1%, citing China, a faster shift to EVs, a roughly $6.78 billion (EUR 6 billion) goodwill impairment on the Porsche segment, and extra restructuring and China impairments.

Revenue and profit by year

Target

Target revenue, net income, margin and growth by fiscal year
YearRevenueNet incomeMarginGrowthSource
FY2025$104.8B$3.7B3.5%-1.7%Source
FY2024$106.6B$4.1B3.8%-0.8%Source
FY2023$107.4B$4.1B3.9%-1.6%Source
FY2022$109.1B$2.8B2.5%+2.9%Source
FY2021$106B$6.9B6.6%+13.3%Source
FY2020$93.6B$4.4B4.7%+19.8%Source
FY2019$78.1B$3.3B4.2%+3.7%Source
FY2018$75.4B$2.9B3.9%+3.6%Source
FY2017$72.7B$2.9B4.0%+3.5%Source
FY2016$70.3B$2.7B3.9%—Source
Full Target financials

Volkswagen

Volkswagen revenue, net income, margin and growth by fiscal year
YearRevenueNet incomeMarginGrowthSource
FY2025~$363.8B~$7.5B2.1%-0.8%Source
FY2024~$366.9B~$12.1B3.3%+0.7%Source
FY2023~$364.2B~$18B4.9%+15.5%Source
FY2022~$315.3B~$16.8B5.3%+11.5%Source
FY2021~$282.7B~$16.8B5.9%—Source
Full Volkswagen financials

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.

Volkswagen

  • Passenger vehicle sales
  • Premium and luxury vehicle sales
  • Commercial vehicles
  • Parts and aftersales
  • Financial services
  • Leasing and fleet services
  • Software and mobility services

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.

Target business model in full

Volkswagen

How it makes money

Volkswagen earns most of its revenue by selling new cars, vans, trucks and buses through brand groups: Core (Volkswagen, Skoda, SEAT/CUPRA, Volkswagen Commercial Vehicles), Progressive (Audi, Bentley, Lamborghini, Ducati), Sport Luxury (Porsche) and TRATON (Scania, MAN, International, Volkswagen Truck & Bus).

Growth strategy

Volkswagen's growth strategy centers on cost reduction, platform simplification, brand accountability, premium profitability, China-specific EV development, battery and software investment, hybrid and combustion optimization where demand remains strong, and selective partnerships such as Rivian and XPeng.

Competitive advantage

Volkswagen's advantage is industrial scale plus brand breadth. Few competitors can cover entry-level European cars, global volume SUVs, Audi premium vehicles, Porsche sports cars, Lamborghini supercars, Bentley luxury cars, Ducati motorcycles, Scania and MAN trucks, and a major financial services arm. The purchasing leverage and installed dealer base are hard to replicate.

Volkswagen business model in full

Questions about Target vs Volkswagen

Which company has higher revenue — Target Corporation or Volkswagen Aktiengesellschaft?

Target Corporation reported $104.8B (FY2025), while Volkswagen Aktiengesellschaft reported ~$363.8B (FY2025). By last reported revenue, Volkswagen Aktiengesellschaft is the larger business, with Target Corporation reporting a smaller revenue base.

What is the market cap of Target Corporation vs Volkswagen Aktiengesellschaft?

Target Corporation's market capitalisation stands at $72.0B, while Volkswagen Aktiengesellschaft's is $35.5B. Target Corporation carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Volkswagen Aktiengesellschaft.

Which is more financially efficient — Target Corporation or Volkswagen Aktiengesellschaft?

Target Corporation generates $252k / employee in revenue per employee, while Volkswagen Aktiengesellschaft generates $549k / employee. Volkswagen Aktiengesellschaft 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 Volkswagen Aktiengesellschaft make money?

Target Corporation and Volkswagen Aktiengesellschaft 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. Volkswagen Aktiengesellschaft: Volkswagen earns most of its revenue by selling new cars, vans, trucks and buses through brand groups: Core (Volkswagen, Skoda, SEAT/CUPRA, Volkswagen Commercial Vehicles), Progressive (Audi, Bentley, Lamborghini, Ducati), Sport Luxury (Porsche) and TRATON (Scania, MAN, International, Volkswagen Truck & Bus).

Which company is valued higher relative to revenue — Target Corporation or Volkswagen Aktiengesellschaft?

On a price-to-sales (P/S) basis, Target Corporation trades at 0.7x P/S and Volkswagen Aktiengesellschaft at 0.1x P/S. Target Corporation commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Volkswagen Aktiengesellschaft. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.

Is Target Corporation bigger than Volkswagen Aktiengesellschaft?

By last reported revenue, Volkswagen Aktiengesellschaft (~$363.8B (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 Volkswagen overview

Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.