The TJX Companies, Inc.
Orin's own judgment of how firmly the evidence points one way — not the chance the price goes up.
TJX continues to execute as a best-in-class off-price retailer with FY2026 revenue of $60.4B growing 7.1% YoY, operating margins expanding to 11.9%, and eight consecutive quarterly EPS beats including Q1 FY2027's 16.7% surprise.
However, the stock has rallied to $147.33 with RSI at 74.78 (overbought) and trades at a PE of 27.23x — an 18.8% premium to the peer median of 22.91x — while still sitting below its 200-day moving average of $151.79. The combination of a stretched valuation premium, overbought technicals, and persistent insider net selling of approximately $38.75M over 24 months argues for patience despite the strong fundamental trajectory.
What could go wrong
- Valuation premium. PS ratio of 2.60x sits 112% above the peer median of 1.22x, and PE of 27.23x carries an 18.8% premium to peers, limiting upside if growth decelerates.
- Revenue deceleration. Q2 FY2027 revenue growth slowed to 5.4% YoY from Q1 FY2027's 9.2%, potentially signaling a softer consumer backdrop.
- Overbought technical reversal. RSI of 74.78 as of 16 Oct leaves the stock vulnerable to a near-term pullback, especially with the 200-day MA at $151.79 acting as overhead resistance.
- Insider selling. 24-month net insider disposition of approximately 245,821 shares (~$38.75M), including the Executive Chairman selling 55,624 shares at $163.65 in June 2026.
What would change my mind
Where this comes from: FY26 fundamentals · earnings vs estimates · quarterly results · peer comparison. Orin's read on TJX; not advice.
How has the share price moved?
Down 2.1% over twelve months, from $143.27 on 27 Oct 2025 to $140.20 at the Tue 27 Oct 2026 close. Its highest close in that time was $168.41 on 12 Jun 2026; the last close is 16.8% below it.
- Green line: the closing price each trading day.
- Grey line: the average closing price over the last 50 trading days.
- Dashed amber line: the same over the last 200 trading days — a slower, smoother line.
- Bars along the bottom: shares traded each day — green when it closed higher than the day before, rose when lower (the most, 17.7M, on 18 Sep 2026).
- Flags: the company's filings, on the day they were made (a 10-Q is the quarterly report and a 10-K the annual report; an 8-K reports a major event).
On file
All TJX filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| BlackRock | $16.5B | 0.2% |
| Vanguard Capital Management | $10.9B | 0.2% |
| State Street | $7.5B | 0.2% |
| Geode Capital Management | $4.4B | 0.2% |
| Morgan Stanley | $4.1B | 0.2% |
| FMR | $3.9B | 0.2% |
| Bank of America | $3.5B | 0.2% |
| Vanguard Portfolio Management | $3.1B | 0.1% |
| JPMorgan Chase | $2.6B | 0.1% |
| Ameriprise Financial | $2.2B | 0.4% |
146 of the 815 filers we track · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 141 Form 4 filings; open-market trades net −$38.8M. Of the 50 on hand, 0 were open-market purchases and 6 sales — the rest are grants, option exercises and tax withholding.
Ask Orin about TJX
Orin answers questions about TJX from its filings, transcripts and numbers — with the source behind every claim. Your own desk starts with 3 free days, card required.
Start 3 free days →How is it priced, against its own past and its sector?
Priced at 25.9× its last 12 months of profit (Tue 27 Oct close) — higher than in 1 of its last 5 fiscal years (middle 27.3×); the typical Consumer Cyclical company on the NYSE is at 20.4×.
| Measure | Now | Its usual | Sector |
|---|---|---|---|
| P/E | 25.9×below usual | 27.3× | 20.4× |
| P/S | 2.47×above usual | 2.01× | — |
| EV/EBITDA | 17.9×near usual | 18.3× | — |
| P/B | 14.7×near usual | 15.0× | — |
- "Its usual" is the middle of its own last 5 fiscal years.
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
P/S: the company's total market value divided by one year of revenue. Used when there is no profit to measure.
EV/EBITDA: the price of the whole company (its shares plus its debt, minus its cash) divided by one year of operating profit before interest, tax and write-downs.
P/B: the share price divided by the book value per share — what the company owns minus what it owes, as its accounts record it. When book value is tiny, P/B swings wildly and says little.
What do the analysts who cover it publish?
The analysts' average 12-month price target is $174 (from $145 to $198) — 24% above the Tue 27 Oct close price. That is their published opinion, not Orin's.
$174
$145 – $198 · +24% against the last close
- 16 buy or overweight
- 3 hold
- 0 underweight or sell
Price target: the share price an analyst publishes for about 12 months ahead. It is the opinion of the firm that wrote it; the average is across the firms that cover the company.
Overweight / underweight: analysts' rating words: overweight means the firm expects the stock to do better than the others it covers, underweight worse. Their words, not Orin's.
How is it priced next to the companies it is compared to?
Priced at 25.9× its last 12 months of profit; the middle P/E of the 6 companies it is compared to that made a profit is 22.0×.
| Company | Market value | P/E | EV/EBITDA | Gross margin | Net margin | ROE |
|---|---|---|---|---|---|---|
| TJXThe TJX Companies, Inc. | $154B | 25.9× | 17.9× | 32.1% | 9.7% | 60% |
| COSTCostco Wholesale Corporation | $440B | 47.7× | 29.8× | 12.8% | 3.0% | 28% |
| DGDollar General Corporation | $28B | 16.4× | 11.9× | 31.2% | 3.9% | 20% |
| DLTRDollar Tree, Inc. | $23B | 15.1× | 9.8× | 38.7% | 8.0% | 46% |
| ROSTRoss Stores, Inc. | $74B | 27.6× | 18.7× | 29.9% | 10.8% | 42% |
| TGTTarget Corporation | $67B | 15.3× | 8.7× | 29.3% | 4.1% | 27% |
| WMTWalmart Inc. | $950B | 43.1× | 21.6× | 25.2% | 3.0% | 23% |
- The list of companies is the data vendor's choice, so it can include a company a person would not have picked.
Market value: the share price times the number of shares — what the whole company is priced at.
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
EV/EBITDA: the price of the whole company (its shares plus its debt, minus its cash) divided by one year of operating profit before interest, tax and write-downs.
Gross margin: the share of each $1 of sales left after the direct cost of making what was sold.
Net margin: the share of each $1 of sales kept as profit after every cost. Below zero, the company lost money.
ROE: return on equity: one year of profit as a share of the shareholders' money in the business (its book value).
Is it priced high or low compared with its own past?
Priced at 25.9× its last 12 months of profit (Tue 27 Oct close). It has no full fiscal year on file since its history starts, so there is nothing of its own to compare with.
- Now25.9×
P/E: the share price divided by one year of profit per share — roughly how many years of today's profit the price pays for. A company that loses money has no P/E.
Fiscal year (FY): the company's own 12-month accounting year, which need not match the calendar year.
How has its sector been priced?
Consumer Cyclical companies on the NYSE were priced at a typical 20.4× their yearly profit (Tue 27 Oct close).
- Now20.4×
- Each year is the middle of that calendar year's daily sector P/E; "Now" is the Tue 27 Oct close figure, the same one in the table above.
Sector P/E: the middle P/E of the companies in the same sector on the same stock exchange, as the data vendor works it out each day.
What does a cash-flow model say a share is worth?
A standard cash-flow model puts it at $93 a share — 34% below the $140.49 price it was computed against (27 Oct).
| Model | Value a share | Against the price then |
|---|---|---|
| Standard | $93 | 34% below $140.49 |
| Levered | $91 | 35% below $140.49 |
Discounted cash flow: a model's estimate of what the company is worth today, from the cash it is forecast to make in future years. Small changes in the forecast move it a lot, and it says little about a company that loses money.
Standard / levered: two versions of the cash-flow model: the standard one counts the cash before the company pays its lenders, the levered one after.