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Department stores · Consumer Cyclical · Fiscal year ends Jan 29
KOHLS reported revenue of $15.5B in the fiscal year ended Jan 2026, down 4.3% from the year before. Operating income was $624M, an operating margin of 4.0%, and net income was $272M. Operating cash flow of $1.4B less capital expenditure of $372M left free cash flow of $1B. Net debt was $762M.
Ranks among the 3 department stores companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 19,433 | 18,098 | 17,476 | 16,221 | 15,527 |
| Cost of revenue | 11,437 | 11,457 | 10,498 | 9,661 | 9,228 |
| Gross profit | 7,996 | 6,641 | 6,978 | 6,560 | 6,299 |
| Selling, general & admin | 5,478 | 5,587 | 5,512 | 5,308 | 5,089 |
| Operating income | 1,680 | 246 | 717 | 433 | 624 |
| Net interest incomeBanks | −260 | −304 | −344 | −319 | −288 |
| Pre-tax income | 1,219 | −58.0 | 373 | 114 | 336 |
| Income tax | 281 | −39.0 | 56.0 | 5.0 | 64.0 |
| Net income | 938 | −19.0 | 317 | 109 | 272 |
| Diluted EPS | 6.32 | −0.15 | 2.85 | 0.98 | 2.38 |
| Diluted shares | 148 | 120 | 111 | 112 | 114 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 1,587 | 153 | 183 | 134 | 674 |
| Inventory | 3,067 | 3,189 | 2,880 | 2,945 | 2,745 |
| Current assets | 5,023 | 3,736 | 3,410 | 3,388 | 3,691 |
| Net PP&E | 7,304 | 7,926 | 7,720 | 7,297 | 6,914 |
| Total assets | 15,054 | 14,345 | 14,009 | 13,559 | 13,362 |
| Payables | 1,683 | 1,330 | 1,134 | 1,042 | 1,171 |
| Current liabilities | 3,286 | 3,115 | 2,612 | 3,131 | 2,531 |
| Short-term debt | 0.0 | 275 | – | 353 | 0.0 |
| Long-term debt | 1,910 | 1,637 | 1,638 | 1,174 | 1,436 |
| Total liabilities | 10,393 | 10,582 | 10,116 | 9,757 | 9,314 |
| Shareholders' equity | 4,661 | 3,763 | 3,893 | 3,802 | 4,048 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 2,271 | 282 | 1,168 | 648 | 1,380 |
| Capital expenditure | 605 | 826 | 577 | 466 | 372 |
| Free cash flow | 1,666 | −544 | 591 | 182 | 1,008 |
| Depreciation & amortisation | 838 | 808 | 749 | 743 | 700 |
| Stock-based compensation | 48.0 | 30.0 | 42.0 | 30.0 | 34.0 |
| Share buybacks | 1,355 | 658 | – | 0.0 | – |
| Dividends paid | 147 | 239 | 220 | 222 | 56.0 |
| Dividend per share | 1.00 | 2.00 | 2.00 | 2.00 | 0.50 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −6.9% | −3.4% | −7.2% | −4.3% |
| Operating income growth (YoY) | – | −85.4% | 191.5% | −39.6% | 44.1% |
| EPS growth (YoY) | – | −102.4% | – | −65.6% | 142.9% |
| Gross margin | 41.1% | 36.7% | 39.9% | 40.4% | 40.6% |
| Operating margin | 8.6% | 1.4% | 4.1% | 2.7% | 4.0% |
| Net margin | 4.8% | −0.1% | 1.8% | 0.7% | 1.8% |
| Return on equityBlank when equity is negative | 20.1% | −0.5% | 8.1% | 2.9% | 6.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 14.3% | 2.2% | 6.3% | 4.2% | 5.8% |
| Free cash flow margin | 8.6% | −3.0% | 3.4% | 1.1% | 6.5% |
| Cash conversion (CFO ÷ net income) | 2.42x | −14.8x | 3.68x | 5.94x | 5.07x |
| Inventory days | 98 | 102 | 100 | 111 | 109 |
| Payable days | 54 | 42 | 39 | 39 | 46 |
| Debt ÷ equity | 0.41x | 0.51x | 0.42x | 0.40x | 0.35x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 323 | 1,759 | 1,455 | 1,393 | 762 |
| Current ratio | 1.53x | 1.20x | 1.31x | 1.08x | 1.46x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.