Tool · 12
Comps Builder
Add comparable companies, compute the multiples, and apply the quartiles to a target. Every comp can be excluded with a written reason, because a comp set is an argument.
The comp set
As filed, with no adjustment for one-time items and no attempt to line up fiscal years. Both of those are real comparability problems and both are left in so you can see what they do. Prices are a snapshot from 2026-08-17.
| Company | Price | Shares | Market cap | Net debt | EV | EV/Rev | EV/EBITDA | P/E | In set |
|---|---|---|---|---|---|---|---|---|---|
| Target (TGT)target | $151.01 | 455.6 | $68,800M | $10,968M | $79,768M | 0.76x | 9.7x | 18.6x | target |
| Walmart (WMT) | $114.33 | 8,022 | $917,155M | $26,845M | $944,000M | 1.34x | 21.4x | 41.9x | |
| Costco (COST) | $953.50 | 444.8 | $424,117M | -$8,373M | $415,744M | 1.51x | 32.5x | 52.4x | |
| Kroger (KR) | $56.07 | 655 | $36,726M | $12,541M | $49,267M | 0.33x | 9.4x | 36.4x | |
| Dollar General (DG) | $120.08 | 220.8 | $26,514M | $3,441M | $29,955M | 0.70x | 9.2x | 17.5x | |
| TJX Companies (TJX) | $150.85 | 1,128 | $170,159M | -$3,361M | $166,798M | 2.76x | 19.8x | 31.0x |
- Costco (COST) is out. Costco earns most of its profit from membership fees, not from the margin on what it sells. The market prices a subscription business, and the multiple shows it.
Where the set lands
| Multiple | Low | 25th | Median | 75th | High | n |
|---|---|---|---|---|---|---|
| EV/Revenue | 0.33x | 0.61x | 1.02x | 1.69x | 2.76x | 4 |
| EV/EBITDA | 9.2x | 9.4x | 14.6x | 20.2x | 21.4x | 4 |
| P/E | 17.5x | 27.6x | 33.7x | 37.8x | 41.9x | 4 |
Quartiles are interpolated the way a spreadsheet's QUARTILE.INC does, so these match what you would get in Excel. On a set of four or five names the quartiles are almost meaningless, and saying so is more honest than printing them without comment.
Applied to Target (TGT)
Enterprise value multiples produce an enterprise value, which then has to cross the bridge to equity before it is a share price. P/E is already an equity multiple, so it does not.
| Method | Low (25th) | Mid (median) | High (75th) |
|---|---|---|---|
| EV/Revenue | $116.05 | $210.22 | $365.28 |
| EV/EBITDA | $145.80 | $240.63 | $341.91 |
| P/E | $224.50 | $273.92 | $307.12 |
| Traded at | $151.01 | ||
Target metrics used: $104,780M of revenue, $8,251M of EBITDA, $8.13 of diluted EPS, $10,968M of net debt, 455.6M diluted shares.
Add a company
Nothing you type here leaves your browser. Nothing is saved either, so a reload starts over. Base year figures for the seeded companies come from each one's most recent Form 10-K, and the running example's own metrics are $104,780M of revenue against $8,251M of EBITDA.
Read the topic
Read how a comp set goes wrong →