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TJX Companies

NYSE:TJX
Snowflake Description

Solid track record established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TJX
NYSE
$65B
Market Cap
  1. Home
  2. US
  3. Retail
Company description

The TJX Companies, Inc. operates as an off-price apparel and home fashions retailer. The last earnings update was 25 days ago. More info.


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TJX Share Price and Events
7 Day Returns
1.1%
NYSE:TJX
1.1%
US Specialty Retail
-1.1%
US Market
1 Year Returns
31%
NYSE:TJX
19.7%
US Specialty Retail
6.4%
US Market
TJX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TJX Companies (TJX) 1.1% 4% 25.7% 31% 35.7% 74.2%
US Specialty Retail 1.1% 0.4% 19.5% 19.7% 21.7% 41%
US Market -1.1% 0.3% 17.2% 6.4% 37.9% 42.1%
1 Year Return vs Industry and Market
  • TJX outperformed the Specialty Retail industry which returned 19.7% over the past year.
  • TJX outperformed the Market in United States of America which returned 6.4% over the past year.
Price Volatility
TJX
Industry
5yr Volatility vs Market
Related Companies

Value

 Is TJX Companies undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of TJX Companies to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for TJX Companies.

NYSE:TJX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 25 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:TJX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.862 (1 + (1- 21%) (3.46%))
0.923
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.923 * 5.96%)
8.23%

Discounted Cash Flow Calculation for NYSE:TJX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for TJX Companies is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:TJX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.23%)
2019 2,740.34 Analyst x8 2,531.90
2020 2,877.01 Analyst x8 2,455.98
2021 2,893.63 Analyst x7 2,282.28
2022 3,405.00 Analyst x4 2,481.33
2023 3,372.33 Analyst x3 2,270.60
2024 3,850.50 Analyst x2 2,395.35
2025 4,108.47 Est @ 6.7% 2,361.42
2026 4,334.80 Est @ 5.51% 2,302.00
2027 4,537.45 Est @ 4.68% 2,226.33
2028 4,723.11 Est @ 4.09% 2,141.15
Present value of next 10 years cash flows $23,448.34
NYSE:TJX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $4,723.11 × (1 + 2.73%) ÷ (8.23% – 2.73%)
$88,177.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $88,177.62 ÷ (1 + 8.23%)10
$39,974.03
NYSE:TJX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $23,448.34 + $39,974.03
$63,422.38
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $63,422.38 / 1,233.15
$51.43
NYSE:TJX Discount to Share Price
Calculation Result
Value per share (USD) From above. $51.43
Current discount Discount to share price of $52.34
= -1 x ($52.34 - $51.43) / $51.43
-1.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of TJX Companies is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for TJX Companies's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TJX Companies's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:TJX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-02-02) in USD $2.43
NYSE:TJX Share Price ** NYSE (2019-03-22) in USD $52.34
United States of America Specialty Retail Industry PE Ratio Median Figure of 66 Publicly-Listed Specialty Retail Companies 15.09x
United States of America Market PE Ratio Median Figure of 3,062 Publicly-Listed Companies 17.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of TJX Companies.

NYSE:TJX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:TJX Share Price ÷ EPS (both in USD)

= 52.34 ÷ 2.43

21.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TJX Companies is overvalued based on earnings compared to the US Specialty Retail industry average.
  • TJX Companies is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does TJX Companies's expected growth come at a high price?
Raw Data
NYSE:TJX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 25 Analysts
5.9%per year
United States of America Specialty Retail Industry PEG Ratio Median Figure of 59 Publicly-Listed Specialty Retail Companies 1.66x
United States of America Market PEG Ratio Median Figure of 2,105 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

NYSE:TJX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.54x ÷ 5.9%

3.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TJX Companies is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on TJX Companies's assets?
Raw Data
NYSE:TJX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-02-02) in USD $4.06
NYSE:TJX Share Price * NYSE (2019-03-22) in USD $52.34
United States of America Specialty Retail Industry PB Ratio Median Figure of 100 Publicly-Listed Specialty Retail Companies 1.45x
United States of America Market PB Ratio Median Figure of 5,165 Publicly-Listed Companies 1.85x
NYSE:TJX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:TJX Share Price ÷ Book Value per Share (both in USD)

= 52.34 ÷ 4.06

12.9x

* Primary Listing of TJX Companies.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TJX Companies is overvalued based on assets compared to the US Specialty Retail industry average.
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Value checks
We assess TJX Companies's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Specialty Retail industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Specialty Retail industry average (and greater than 0)? (1 check)
  5. TJX Companies has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is TJX Companies expected to perform in the next 1 to 3 years based on estimates from 25 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TJX Companies expected to grow at an attractive rate?
  • TJX Companies's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • TJX Companies's earnings growth is positive but not above the United States of America market average.
  • TJX Companies's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:TJX Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:TJX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 25 Analysts 5.9%
NYSE:TJX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 25 Analysts 5.6%
United States of America Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 10.1%
United States of America Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:TJX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 25 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:TJX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-01-31 52,765 5,655 4,322 2
2023-01-31 48,943 4,725 3,957 3
2022-01-31 46,400 4,912 3,600 8
2021-01-31 43,829 4,200 3,383 21
2020-01-31 41,312 4,138 3,180 25
NYSE:TJX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-02-02 38,973 4,089 3,060
2018-11-03 38,806 3,574 3,096
2018-08-04 37,743 3,483 2,975
2018-05-05 36,769 3,302 2,788
2018-02-03 35,865 3,026 2,608
2017-10-28 34,372 3,444 2,409
2017-07-29 33,901 3,546 2,317
2017-04-29 33,425 3,630 2,326
2017-01-28 33,184 3,627 2,298
2016-10-29 32,678 3,393 2,287
2016-07-30 32,140 3,192 2,324
2016-04-30 31,622 2,935 2,311

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • TJX Companies's earnings are expected to grow by 5.9% yearly, however this is not considered high growth (20% yearly).
  • TJX Companies's revenue is expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:TJX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 25 Analyst Estimates (S&P Global) See Below

All data from TJX Companies Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:TJX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-01-31 4.10 4.10 4.10 1.00
2023-01-31 3.55 3.67 3.42 2.00
2022-01-31 3.09 3.30 2.80 5.00
2021-01-31 2.84 2.96 2.70 13.00
2020-01-31 2.61 2.65 2.55 15.00
NYSE:TJX Past Financials Data
Date (Data in USD Millions) EPS *
2019-02-02 2.43
2018-11-03 2.48
2018-08-04 2.37
2018-05-05 2.20
2018-02-03 2.05
2017-10-28 1.88
2017-07-29 1.79
2017-04-29 1.79
2017-01-28 1.75
2016-10-29 1.73
2016-07-30 1.75
2016-04-30 1.73

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • TJX Companies is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess TJX Companies's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
TJX Companies has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has TJX Companies performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare TJX Companies's growth in the last year to its industry (Specialty Retail).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • TJX Companies's year on year earnings growth rate has been positive over the past 5 years.
  • TJX Companies's 1-year earnings growth exceeds its 5-year average (17.4% vs 7%)
  • TJX Companies's earnings growth has exceeded the US Specialty Retail industry average in the past year (17.4% vs 11.1%).
Earnings and Revenue History
TJX Companies's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from TJX Companies Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:TJX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-02-02 38,972.93 3,059.80 6,923.56
2018-11-03 38,806.31 3,095.54 6,902.54
2018-08-04 37,742.78 2,974.72 6,730.31
2018-05-05 36,769.36 2,788.05 6,514.24
2018-02-03 35,864.66 2,607.95 6,375.07
2017-10-28 34,371.59 2,408.60 6,057.07
2017-07-29 33,901.06 2,316.95 5,935.42
2017-04-29 33,425.41 2,326.17 5,845.02
2017-01-28 33,183.74 2,298.23 5,768.47
2016-10-29 32,678.17 2,286.77 5,687.99
2016-07-30 32,139.98 2,324.24 5,517.82
2016-04-30 31,621.66 2,311.40 5,372.11
2016-01-30 30,944.94 2,277.66 5,205.72
2015-10-31 30,286.82 2,259.42 5,014.88
2015-08-01 29,899.39 2,267.12 4,915.77
2015-05-02 29,452.87 2,235.41 4,790.99
2015-01-31 29,078.41 2,215.13 4,695.38
2014-11-01 28,583.24 2,149.19 4,604.30
2014-08-02 28,199.05 2,176.89 4,569.67
2014-05-03 27,724.26 2,138.82 4,521.23
2014-02-01 27,422.70 2,137.40 4,467.09
2013-11-02 27,337.72 2,159.95 4,491.42
2013-08-03 26,766.76 1,998.84 4,423.04
2013-05-04 26,269.90 1,940.38 4,327.23
2013-02-02 25,878.37 1,906.69 4,250.45
2012-10-27 24,864.32 1,777.16 4,068.66
2012-07-28 24,246.53 1,722.09 3,932.62
2012-04-28 23,769.25 1,649.34 3,877.80

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • TJX Companies made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • TJX Companies used its assets more efficiently than the US Specialty Retail industry average last year based on Return on Assets.
  • TJX Companies's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess TJX Companies's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Specialty Retail industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
TJX Companies has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is TJX Companies's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up TJX Companies's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TJX Companies is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • TJX Companies's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of TJX Companies's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from TJX Companies Company Filings, last reported 1 month ago.

NYSE:TJX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-02-02 5,048.60 2,233.60 3,030.20
2018-11-03 5,256.87 2,232.86 2,711.77
2018-08-04 5,227.07 2,232.11 2,872.72
2018-05-05 5,262.41 2,231.36 3,117.01
2018-02-03 5,148.31 2,452.52 3,264.64
2017-10-28 4,645.61 2,229.86 2,875.86
2017-07-29 4,540.80 2,229.10 2,952.06
2017-04-29 4,553.52 2,228.35 3,126.59
2017-01-28 4,510.60 2,403.83 3,473.09
2016-10-29 4,329.81 2,226.91 2,826.34
2016-07-30 4,451.36 1,615.95 2,224.80
2016-04-30 4,534.97 1,615.48 2,347.86
2016-01-30 4,307.08 1,700.22 2,447.79
2015-10-31 4,350.46 1,624.01 2,123.05
2015-08-01 4,276.07 1,623.96 2,238.28
2015-05-02 4,290.29 1,623.91 2,588.79
2015-01-31 4,264.23 1,684.60 2,776.40
2014-11-01 4,373.81 1,623.82 2,430.85
2014-08-02 4,274.65 1,623.77 2,468.33
2014-05-03 4,283.49 1,274.25 2,319.18
2014-02-01 4,229.89 1,274.22 2,444.45
2013-11-02 4,123.77 1,274.19 2,262.03
2013-08-03 3,850.14 1,274.16 2,090.01
2013-05-04 3,762.67 1,274.13 2,227.88
2013-02-02 3,665.94 774.55 2,047.81
2012-10-27 3,466.39 774.53 1,842.90
2012-07-28 3,390.02 786.18 1,796.70
2012-04-28 3,331.81 786.89 1,738.56
  • TJX Companies's level of debt (44.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (30.1% vs 44.2% today).
  • Debt is well covered by operating cash flow (183%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 476.1x coverage).
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Financial health checks
We assess TJX Companies's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. TJX Companies has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is TJX Companies's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.49%
Current annual income from TJX Companies dividends. Estimated to be 2.08% next year.
If you bought $2,000 of TJX Companies shares you are expected to receive $30 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • TJX Companies's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
  • TJX Companies's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:TJX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 25 Analyst Estimates (S&P Global) See Below
United States of America Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 39 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:TJX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-01-31 1.48 2.00
2023-01-31 1.30 3.00
2022-01-31 1.25 8.00
2021-01-31 1.04 10.00
2020-01-31 0.91 13.00
NYSE:TJX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-12-04 0.780 1.619
2018-09-17 0.780 1.472
2018-06-06 0.780 1.566
2018-04-04 0.780 1.832
2017-12-05 0.625 1.598
2017-09-15 0.625 1.740
2017-06-05 0.625 1.758
2017-04-04 0.625 1.626
2016-11-30 0.520 1.349
2016-09-16 0.520 1.389
2016-06-08 0.520 1.331
2016-03-29 0.520 1.359
2015-12-09 0.420 1.168
2015-09-18 0.420 1.180
2015-06-11 0.420 1.213
2015-03-31 0.420 1.262
2014-12-10 0.350 1.032
2014-09-11 0.350 1.128
2014-06-11 0.350 1.269
2014-04-01 0.350 1.213
2013-12-03 0.290 0.951
2013-09-20 0.290 0.980
2013-06-11 0.290 1.110
2013-04-02 0.290 1.179
2012-11-29 0.230 1.036
2012-09-20 0.230 1.065
2012-06-13 0.230 1.032
2012-02-22 0.230 1.155
2011-12-01 0.190 1.154
2011-09-08 0.190 1.311
2011-06-14 0.190 1.424
2011-04-05 0.190 1.457
2010-11-30 0.150 1.266
2010-09-09 0.150 1.338
2010-06-02 0.150 1.408
2010-04-06 0.150 1.316
2009-12-01 0.120 1.225
2009-09-21 0.120 1.252
2009-06-02 0.120 1.418
2009-04-07 0.120 1.711
2009-03-25 0.110 1.687

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of TJX Companies's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess TJX Companies's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can TJX Companies afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TJX Companies has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of TJX Companies's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ernie Herrman
COMPENSATION $16,880,171
AGE 57
TENURE AS CEO 3.2 years
CEO Bio

Mr. Ernie L. Herrman has been the President of The TJX Companies, Inc. since January 2011 and has been its Chief Executive Officer since January 31, 2016 and Director since October 7, 2015. Mr. Herrman served as Senior Executive Vice President of The TJX Companies, Inc. from August 2008 to January 30, 2011 and as its Group President from August 2008 to January 30, 2011. He served as the President and Chief Operating Officer of T.J. Maxx from March 2004 to 2005. He served as Executive Vice President of T.J. Maxx, Inc, since March 2004. He served as the President of The Marmaxx Group from January 21, 2005 to August 2008. He served as an Executive Vice President of The TJX Companies, Inc. from March 2004 to 2005. Mr. Herrman served as the Chief Operating Officer of Marmaxx of TJX Companies from March 2004 to 2005. He served as an Executive Vice President of Merchandising at Marmaxx from 2001 to 2004 and held a series of senior merchandising positions of increasing responsibility since joining TJX as a buyer in 1989. Mr. Herrman has been a Trustee of Save The Children Federation, Incorporated since March 2014.

CEO Compensation
  • Ernie's compensation has been consistent with company performance over the past year.
  • Ernie's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the TJX Companies management team in years:

4.5
Average Tenure
61
Average Age
  • The tenure for the TJX Companies management team is about average.
Management Team

Carol Meyrowitz

TITLE
Executive Chairman
COMPENSATION
$13M
AGE
64

Ernie Herrman

TITLE
CEO, President & Director
COMPENSATION
$17M
AGE
57
TENURE
3.2 yrs

Scott Goldenberg

TITLE
Senior EVP & CFO
COMPENSATION
$6M
AGE
64
TENURE
7.2 yrs

Richard Sherr

TITLE
Senior EVP & Group President
COMPENSATION
$6M
AGE
61
TENURE
7.2 yrs

Bernard Cammarata

TITLE
Founder & Executive Advisor
COMPENSATION
$848K
AGE
78

Alicia Kelly

TITLE
Executive VP

Debra McConnell

TITLE
Senior Vice President of Global Communications

Ken Canestrari

TITLE
Senior EVP & Group President
AGE
56
TENURE
4.5 yrs

Mary Reynolds

TITLE
Senior VP & Treasurer

Doug Mizzi

TITLE
Senior EVP & Group President
AGE
58
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the TJX Companies board of directors in years:

11.5
Average Tenure
65
Average Age
  • The average tenure for the TJX Companies board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ernie Herrman

TITLE
CEO, President & Director
COMPENSATION
$17M
AGE
57
TENURE
3.4 yrs

Willow Shire

TITLE
Director
COMPENSATION
$331K
AGE
70
TENURE
24.2 yrs

Carol Meyrowitz

TITLE
Executive Chairman
COMPENSATION
$13M
AGE
64
TENURE
3.8 yrs

Amy Lane

TITLE
Director
COMPENSATION
$313K
AGE
65
TENURE
13.4 yrs

Mike Hines

TITLE
Director
COMPENSATION
$325K
AGE
62
TENURE
11.8 yrs

Alan Bennett

TITLE
Director
COMPENSATION
$317K
AGE
68
TENURE
11.5 yrs

John O'Brien

TITLE
Lead Director
COMPENSATION
$370K
AGE
74

David Ching

TITLE
Director
COMPENSATION
$319K
AGE
65
TENURE
11.8 yrs

Zein Abdalla

TITLE
Director
COMPENSATION
$265K
AGE
59
TENURE
7.2 yrs

Jacki Nemerov

TITLE
Director
COMPENSATION
$251K
AGE
66
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • TJX Companies insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
04. Mar 19 Sell Amy Lane Individual 28. Feb 19 28. Feb 19 -1,000 $51.79 $-51,790
24. May 18 Sell Amy Lane Individual 23. May 18 23. May 18 -1,000 $44.03 $-44,025
24. May 18 Sell Richard Sherr Individual 23. May 18 23. May 18 -4,440 $44.01 $-195,425
X
Management checks
We assess TJX Companies's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. TJX Companies has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should You Consider The TJX Companies, Inc. (NYSE:TJX)?

I've been keeping an eye on The TJX Companies, Inc. … Looking at the company as a whole, as a potential stock investment, I believe TJX has a lot to offer. … , dividend-paying company with a

Simply Wall St -

If You Had Bought TJX Companies (NYSE:TJX) Shares Five Years Ago You'd Have Made 65%

(NYSE:TJX) shareholders have enjoyed a 65% share price rise over the last half decade, well in excess of the market return of around 40% (not including dividends). … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … That suggests that the market sentiment around the company hasn't changed much over that time.

Simply Wall St -

With 17% Earnings Growth, Did The TJX Companies, Inc. (NYSE:TJX) Outperform The Industry?

(NYSE:TJX) announced its most recent earnings (02 February 2019), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Did TJX's recent earnings growth beat the long-term trend and the industry. … TJX's trailing twelve-month earnings (from 02 February 2019) of US$3.1b has.

Simply Wall St -

How Do Analysts See The TJX Companies, Inc. (NYSE:TJX) Performing In The Next 12 Months?

Help shape the future of investing tools and receive a $20 prize! … (NYSE:TJX) released its earnings update. … with earnings expected to grow by 1.3% in the upcoming year

Simply Wall St -

3 Days Left Before The TJX Companies, Inc. (NYSE:TJX) Will Be Trading Ex-Dividend

If you are interested in cashing in on The TJX Companies, Inc.'s (NYSE:TJX) upcoming dividend of US$0.20 per share, you only have 3 days left to buy the shares before its ex-dividend date, 13 February 2019, in time for dividends payable on the 07 March 2019. … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … Has its dividend been stable over the past (i.e. no missed payments or significant payout cuts)?

Simply Wall St -

Here's What We Think About The TJX Companies, Inc.'s (NYSE:TJX) CEO Pay

Ernie Herrman became the CEO of The TJX Companies, Inc. … First, this article will compare CEO compensation with compensation at other large companies. … How Does Ernie Herrman's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Are The TJX Companies, Inc.’s (NYSE:TJX) High Returns Really That Great?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

The TJX Companies, Inc.'s (NYSE:TJX) Most Important Factor To Consider

I’ve analysed below, the health and outlook of TJX Companies’s cash flow, which will help you understand the stock from a cash standpoint. … TJX Companies generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating. … The two ways to assess whether TJX Companies’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow

Simply Wall St -

Who Has Been Selling The TJX Companies, Inc. (NYSE:TJX) Shares?

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … That means that an insider was selling shares at below the current price (US$46.21). … It's not ideal to see that insiders have sold at around the current price

Simply Wall St -

Is The TJX Companies Inc (NYSE:TJX) A Financially Sound Company?

The size of The TJX Companies Inc (NYSE:TJX), a US$59b large-cap, often attracts investors seeking a reliable investment in the stock market. … Today we will look at TJX Companies’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Note that this information is centred entirely on financial health and is a high-level overview, so I encourage you to look further

Simply Wall St -

Company Info

Description

The TJX Companies, Inc. operates as an off-price apparel and home fashions retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company sells family apparel, including footwear and accessories; home fashions, such as home basics, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, lighting, soft home, tabletop, and cookware, as well as expanded pet, kids, and gourmet food departments; jewelry; and other merchandise. It operates stores under the T.J. Maxx, Marshalls, HomeGoods, Winners, HomeSense, T.K. Maxx, and Sierra Trading Post names, as well as operates e-commerce sites tjmaxx.com, tkmaxx.com, and sierratradingpost.com. As of February 3, 2018, the company operated a total of 4,070 stores in 9 countries, including the United States, Canada, the United Kingdom, Ireland, Germany, Poland, Austria, the Netherlands, and Australia. The TJX Companies, Inc. was founded in 1956 and is headquartered in Framingham, Massachusetts.

Details
Name: The TJX Companies, Inc.
TJX
Exchange: NYSE
Founded: 1956
$64,542,822,280
1,233,145,248
Website: http://www.tjx.com
Address: The TJX Companies, Inc.
770 Cochituate Road,
Framingham,
Massachusetts, 01701,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE TJX Common Shares New York Stock Exchange US USD 02. Jan 1968
DB TJX Common Shares Deutsche Boerse AG DE EUR 02. Jan 1968
LSE 0LCE Common Shares London Stock Exchange GB USD 02. Jan 1968
BMV TJX * Common Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1968
Number of employees
Current staff
Staff numbers
249,000
TJX Companies employees.
Industry
Apparel Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/24 23:43
End of day share price update: 2019/03/22 00:00
Last estimates confirmation: 2019/03/06
Last earnings filing: 2019/02/27
Last earnings reported: 2019/02/02
Last annual earnings reported: 2019/02/02


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.