TJX · Intrinsic value
Is The TJX Companies, Inc. (TJX) overvalued or undervalued?
The TJX Companies, Inc. (TJX) trades at the delayed market price of $146.97 a share. That price already implies revenue growth of 15.8% a year for 5 years. TickerWorth's fair value is $94.24 a share (56% above fair value), as of Oct 19, 2026. It is a model estimate, and every input behind it is sourced below.
Model by Miraaj Patel · generated from SEC filings and market data · Updated Oct 19, 2026 · How these pages are made
Is TJX overvalued?
- Fair value
- $94.24
- Market price
- $146.97
- Downside to fair value
- 35.9%
- Verdict
- 56% above fair value
Reverse DCF: Today's price implies revenue growth of 15.8% a year for 5 years; our model assumes 5.3% a year on average over the same horizon.
What is TJX's TickerWorth Score?
Expensive vs our estimate — the business scores well
Compared with Consumer Cyclical companies in US
Its strongest point: a profitable, high-quality business. Its weakest: looks expensive on the numbers.
- Value · 27 of 100
Cheaper than 27% of Consumer Cyclical companies in US
- Price vs worth · 21 of 100
- Quality · 59 of 100
More profitable than 59% of Consumer Cyclical companies in US
- Financial health · 52 of 100
Financially stronger than 52% of Consumer Cyclical companies in US
- Growth · 42 of 100
Growing faster than 42% of Consumer Cyclical companies in US
- Momentum · 62 of 100
Outperformed 62% of Consumer Cyclical companies in US over the past year
Confidence: High confidence · Scored
Get the Undervalued Company of the Week.
TJX DCF valuation: what the price assumes
At a recent price of $146.97, The TJX Companies, Inc. (TJX) trades 56% above TickerWorth's blended fair value of $94.24 per share — a discounted-cash-flow model cross-checked against peer multiples and asset value — meaning the market currently prices TJX overvalued vs our estimate of what the business is intrinsically worth. Our fair value sits below the market, an implied -35.9% move to close the gap if the business performs in line with our assumptions. This is an educational model, not a price target or a recommendation — the value moves with the inputs, which you can test yourself using the WACC slider below.
Read the full reasoning
One of the lenses behind that blended figure is a discounted-cash-flow model, which on its own values TJX at about $84.09 per share. The rest of this page walks through that DCF — its assumptions, reverse-DCF and discount-rate sensitivity — because it is the auditable anchor of the blend.
The valuation discounts The TJX Companies, Inc.'s projected free cash flows at a weighted-average cost of capital (WACC) of 7.9%, with a long-run terminal growth rate of 2.5%. About 81% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly 15.8% annual revenue growth for TJX. Our base case instead compounds to about 5.3% a year over the same forecast, so the market is pricing in materially faster growth than our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, TJX's modeled DCF value ranges from about $59.21 to $152.24 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what The TJX Companies, Inc. would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of TJX's intrinsic value. Figures update as new filings and prices come in.
Every input behind TJX's DCF
| Input | Value |
|---|---|
| Base-year revenueThe TJX Companies, Inc. FY2026 10-K (accession 0000109198-26-000008): us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax, FY2026 full year. | $60,372,000,000 |
| Base EBIT marginThe TJX Companies, Inc. FY2018 10-K (accession 0001628280-19-003834): us-gaap:OperatingIncomeLoss 4,763,227,000 / revenue 60,372,000,000 = 7.89%, FY2026. | 7.9% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 7% → 6% → 5% → 5% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 5.3% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 0.59 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesThe TJX Companies, Inc. FY2026 10-K (accession 0000109198-26-000008): WeightedAverageNumberOfDilutedSharesOutstanding = 1,128,000,000 shares, FY2026. | 1,128M |
| Market priceLast known price · as of 2026-10-19 22:19 UTC | $146.97 |
Change TJX's assumptions
The discount-rate dial and the editable model
ProChange growth, margin and WACC yourself — Pro (7-day free trial, card required).
What does The TJX Companies, Inc. do?
What does it do?
The TJX Companies, Inc., together with its subsidiaries, operates as an off-price apparel and home fashions retailer worldwide. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. It operates in the Apparel Retail industry (Consumer Cyclical sector), headquartered in United States. The company employs roughly 377,000 people.
How does it make money?
The business turns $60.4B in annual revenue into profit. Out of every $100 of sales, about $11 is left as operating profit (operating margin of 10.9%), after a 31% gross margin on the products/services it sells. After all costs, taxes and interest, 9.7% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks stretched: carries moderate debt (1.3× equity), can just cover its short-term bills (1.1× current ratio), and is currently profitable.
Who at TJX filed insider trades?
| Date | Insider | Relationship | What happened | Value | Filing |
|---|---|---|---|---|---|
| Nemerov Jackwyn | Director | Open-market sale | $161,345.42 | Form 4 for Nemerov Jackwyn (opens sec.gov in a new tab) | |
| Benjamin Peter | SEVP, Group President | Open-market sale | $1,802,790.00 | Form 4 for Benjamin Peter (opens sec.gov in a new tab) | |
| BERKERY ROSEMARY T | Director | Option exercise | — | Form 4 for BERKERY ROSEMARY T (opens sec.gov in a new tab) | |
| Nemerov Jackwyn | Director | Option exercise | — | Form 4 for Nemerov Jackwyn (opens sec.gov in a new tab) | |
| LANE AMY B | Director | Option exercise | — | Form 4 for LANE AMY B (opens sec.gov in a new tab) | |
| CHING DAVID T | Director | Option exercise | — | Form 4 for CHING DAVID T (opens sec.gov in a new tab) |
A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans
Common questions
What is TJX's intrinsic value?
TickerWorth's blended fair value for The TJX Companies, Inc. (TJX) is $94.24 per share, versus a market price of $146.97 (56% above fair value).
Is TJX overvalued or undervalued?
On our blended fair value TJX looks overvalued vs fair value at $146.97. This is an educational estimate, not advice.
What discount rate is used for TJX?
A WACC of 7.9% and a terminal growth rate of 2.5%.
Is The TJX Companies stock undervalued?
TickerWorth's fair value for The TJX Companies, Inc. (TJX) is $94.24 against a market price of $146.97. Our read: 56% above fair value. This is a model estimate, not investment advice.
The TJX Companies (TJX) DCF valuation and fair value
Our fair value for The TJX Companies, Inc. (TJX) is $94.24, built on a 7.9% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into The TJX Companies stock?
Today's price implies revenue growth of 15.8% a year for 5 years; our model assumes 5.3% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $146.97. A model estimate, not investment advice.
The TJX Companies (TJX) insider trading
The most recent insider filing (SEC Form 4) for The TJX Companies, Inc. (TJX): Nemerov Jackwyn, Director, open-market sale on 2026-06-11. The latest filings are listed on this page. A disclosure, not a signal to trade.
Stocks below our fair value instead
Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.