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TJX COMPANIES INC DE（TJX）の決算・業績分析

TJX COMPANIES INC DEの2025年有価証券報告書をAI分析。売上高$56.4B(+4.0%)。Consumer Discretionary。

目次
SUMMARY — 業績サマリー

TJX COMPANIES INC DEの2025年度 業績サマリー

TJX COMPANIES INC DE（証券コード: TJX）の2025年度決算・業績分析。売上高は$56.4B（前年比+4.0%）。純利益は$4.9B（前年比+8.7%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。

TJX COMPANIES INC DEの2024年度 注目ポイント

※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。

  1. TJX achieved a 51.1% YoY revenue increase to $48.5B (XBRL), driven by strong execution of its off-price retail model.
  2. Net income surged 3547.8% YoY to $3.3B (XBRL), reflecting improved profitability and cost management.
  3. ROE reached 56.3% (XBRL), supported by a 20.5% equity ratio and net debt of -$2.6B (-0.5x EBITDA).
  4. Shareholder returns totaled $3.4B (XBRL), including $2.2B in share repurchases and $1.3B in dividends.

TJX COMPANIES INC DEの売上高変化の要因

  • •FY2024 revenue grew 51.1% YoY to $48.5B (XBRL), up from $32.1B in FY2023. The 5-year CAGR for revenue is 5.1% (XBRL). While segment-specific revenue data is not disclosed (XBRL), the company's growth is attributed to strong demand for discounted brand-name merchandise and effective inventory management (10-K). Historical data shows revenue declined to $32.1B in FY2023 but rebounded sharply in FY2024.

TJX COMPANIES INC DEの営業利益変化の要因

  • •Operating income rose to $4.8B (XBRL), with an operating margin of 9.8% and net margin of 6.8%. EBITDA reached $5.6B (11.6% margin). Net income surged 3547.8% YoY to $3.3B (XBRL), up from $90M in FY2023. The significant increase reflects improved cost control and higher sales volumes. ROA is 11.5% (XBRL), and ROE is 56.3% (XBRL).

TJX COMPANIES INC DEの事業リスクと対応

Failure to execute opportunistic buying strategies or manage inventory could harm sales, margins, and financial results (10-K).

Inability to identify consumer trends or meet demand may reduce sales and customer retention (10-K).

High competition in retail apparel/home fashion markets risks impacting value proposition and market share (10-K).

Supply chain disruptions, inflation, and store closures may hinder inventory management (10-K).

Failure to meet evolving customer expectations across channels (e.g., e-commerce) risks losing relevance (10-K).

TJX COMPANIES INC DEの今後の見通し・業績予想

No specific management guidance is provided in the 10-K. Historical time series data shows revenue growth to $49.9B in FY2025 (XBRL), suggesting continued expansion.

TJX COMPANIES INC DEの事業内容

TJX Companies Inc. operates as a leading off-price retailer of brand-name apparel, home fashions, and outdoor gear, selling merchandise at 20% to 60% below full-price retailers (10-K). The company generates revenue through 4,900 stores and e-commerce platforms, with FY2024 revenue of $48.5B (XBRL). Key segments include Marmaxx (TJ Maxx and Marshalls), HomeGoods, TJX Canada (Winners, HomeSense), and TJX International (TK Maxx and Homesense). Competitive advantages include a flexible business model, opportunistic buying strategies, and rapid inventory turnover (10-K).

TJX COMPANIES INC DEのAI業績分析レポート（2024年度）

TJX Companies Inc. FY2024 Annual Report Analysis

Highlights
•Revenue: $48.5B (+51.1% YoY) (XBRL)
•Net Income: $3.3B (+3547.8% YoY) (XBRL)
•ROE: 56.3% (XBRL)
•Shareholder Returns: $3.4B (XBRL)
Business Overview

TJX operates as a leading off-price retailer, selling brand-name apparel, home fashions, and outdoor gear at discounted prices. Key segments include Marmaxx, HomeGoods, TJX Canada, and TJX International. The company's competitive advantages include a flexible business model, rapid inventory turnover, and global vendor relationships (10-K).

Revenue Analysis

FY2024 revenue grew 51.1% YoY to $48.5B (XBRL), up from $32.1B in FY2023. The 5-year CAGR for revenue is 5.1% (XBRL). While segment-specific data is not disclosed, the rebound from $32.1B in FY2023 to $48.5B in FY2024 reflects strong demand for discounted merchandise.

Profitability Analysis

Operating income rose to $4.8B (XBRL), with operating and net margins of 9.8% and 6.8%, respectively. EBITDA reached $5.6B (11.6% margin). Net income surged 3547.8% YoY to $3.3B (XBRL), up from $90M in FY2023. ROA and ROE are 11.5% and 56.3%, respectively (XBRL).

Balance Sheet Analysis

Total assets declined to $28.5B in FY2024 (XBRL), down from $30.8B in FY2023. Long-term debt is $2.9B (XBRL), with net debt of -$2.6B (-0.5x EBITDA). Cash reserves are $5.5B (XBRL), and the current ratio is 1.21x (XBRL).

Cash Flow Analysis

Operating cash flow was $3.1B (XBRL), with $2.0B in FCF after $1.0B in CapEx. Financing activities included $1.3B in dividends and $2.2B in share repurchases (XBRL). Investing cash flow was -$1.0B (XBRL).

Working Capital Analysis

CCC is 26 days (XBRL), with 4 days of receivables, 61 days of inventory, and 40 days of payables.

Risks
1.Inventory management failures could harm sales and margins (10-K).
2.Inability to meet consumer trends risks customer retention (10-K).
3.High competition in retail markets (10-K).
4.Supply chain disruptions and inflation (10-K).
5.Failure to adapt to evolving customer expectations (10-K).
Outlook

Historical data suggests continued growth, with FY2025 revenue projected at $49.9B (XBRL). No specific management guidance is provided in the 10-K.

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