Financials Kohl's Corporation

Equities

KSS

US5002551043

Department Stores

Real-time Estimate Cboe BZX Other stock markets 12:19:16 2024-05-20 pm EDT			5-day change	1st Jan Change
26.07 ^USD	+1.28%		+0.54%	-9.14%

May. 17	JPMorgan Adjusts Kohl's Price Target to $25 From $21, Maintains Neutral Rating	MT
May. 15	Kohl's Maintains Quarterly Dividend at $0.50 a Share, Payable on June 26 to Shareholders of Record on June 12	MT

Valuation

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	6,714	7,354	8,152	3,840	2,923	2,855	-	-
Enterprise Value (EV) ¹	9,338	9,036	10,726	8,479	7,233	6,691	6,417	6,143
P/E ratio	9.81 x	-44 x	9.27 x	-232 x	9.26 x	10.7 x	9.37 x	8.66 x
Yield	6.25%	1.51%	2.13%	5.75%	-	7.38%	7.65%	8.44%
Capitalization / Revenue	0.36 x	0.49 x	0.44 x	0.22 x	0.18 x	0.17 x	0.17 x	0.17 x
EV / Revenue	0.49 x	0.6 x	0.58 x	0.49 x	0.44 x	0.4 x	0.38 x	0.36 x
EV / EBITDA	4.39 x	15.7 x	4.26 x	8.04 x	4.93 x	4.74 x	4.51 x	4.35 x
EV / FCF	11.6 x	9 x	6.44 x	-15.6 x	12.2 x	9.05 x	9.68 x	-
FCF Yield	8.59%	11.1%	15.5%	-6.42%	8.17%	11%	10.3%	-
Price to Book	1.24 x	1.42 x	1.84 x	1.11 x	-	0.74 x	0.74 x	0.75 x
Nbr of stocks (in thousands)	156,568	157,652	139,158	110,484	110,712	110,907	-	-
Reference price ²	42.88	46.65	58.58	34.76	26.40	25.74	25.74	25.74
Announcement Date	3/3/20	3/2/21	3/1/22	3/1/23	3/12/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	18,885	15,031	18,471	17,161	16,586	16,705	16,888	16,897
EBITDA ¹	2,129	574	2,518	1,054	1,466	1,411	1,423	1,411
EBIT ¹	1,212	-300	1,680	246	717	650.9	677.9	667.6
Operating Margin	6.42%	-2%	9.1%	1.43%	4.32%	3.9%	4.01%	3.95%
Earnings before Tax (EBT) ¹	901	-546	1,219	-58	373	352.4	405	479
Net income ¹	691	-163	938	-19	317	264	301.4	315.6
Net margin	3.66%	-1.08%	5.08%	-0.11%	1.91%	1.58%	1.78%	1.87%
EPS ²	4.370	-1.060	6.320	-0.1500	2.850	2.401	2.747	2.972
Free Cash Flow ¹	802	1,004	1,666	-544	591	739.3	663	-
FCF margin	4.25%	6.68%	9.02%	-3.17%	3.56%	4.43%	3.93%	-
FCF Conversion (EBITDA)	37.67%	174.91%	66.16%	-	40.31%	52.4%	46.58%	-
FCF Conversion (Net income)	116.06%	-	177.61%	-	186.44%	280.06%	219.98%	-
Dividend per Share ²	2.680	0.7040	1.250	2.000	-	1.900	1.969	2.172
Announcement Date	3/3/20	3/2/21	3/1/22	3/1/23	3/12/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: February	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1
Net sales ¹	4,366	6,220	3,471	3,863	4,052	5,775	3,355	3,678	3,843	5,710	3,358	3,736	3,917	5,665	3,439
EBITDA ¹	597	657	282	472	402	-102	286	349	345	486	275.2	362.8	335.9	442.9	-
EBIT ¹	387	450	82	266	200	-302	98	163	157	299	85.36	172.7	143.3	253.4	-
Operating Margin	8.86%	7.23%	2.36%	6.89%	4.94%	-5.23%	2.92%	4.43%	4.09%	5.24%	2.54%	4.62%	3.66%	4.47%	-
Earnings before Tax (EBT) ¹	321	385	14	189	119	-380	14	74	68	217	12.71	99.47	64.12	176.4	-
Net income ¹	243	299	14	143	97	-273	14	58	59	186	6.92	74.42	51.77	130.8	-
Net margin	5.57%	4.81%	0.4%	3.7%	2.39%	-4.73%	0.42%	1.58%	1.54%	3.26%	0.21%	1.99%	1.32%	2.31%	-
EPS ²	1.650	2.200	0.1100	1.110	0.8200	-2.490	0.1300	0.5200	0.5400	1.670	0.0553	0.6701	0.4668	1.177	-
Dividend per Share ²	0.2500	0.5000	0.5000	0.5000	0.5000	0.5000	0.5000	-	0.5000	-	0.5000	0.5000	0.5000	0.5000	0.5000
Announcement Date	11/18/21	3/1/22	5/19/22	8/18/22	11/17/22	3/1/23	5/24/23	8/23/23	11/21/23	3/12/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	2,624	1,682	2,574	4,639	4,310	3,837	3,563	3,288
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.233 x	2.93 x	1.022 x	4.401 x	2.94 x	2.719 x	2.503 x	2.331 x
Free Cash Flow ¹	802	1,004	1,666	-544	591	739	663	-
ROE (net income / shareholders' equity)	12.6%	-3.06%	22.1%	-0.45%	8.28%	6.08%	6.96%	7.7%
ROA (Net income/ Total Assets)	5.11%	-1.09%	7.17%	-0.13%	2.24%	1.9%	2.16%	2.7%
Assets ¹	13,512	14,946	13,088	14,695	14,177	13,876	13,973	11,690
Book Value Per Share ²	34.50	32.90	31.90	31.40	-	34.70	35.00	34.30
Cash Flow per Share ²	10.50	8.690	15.30	2.350	10.50	8.740	10.90	12.50
Capex ¹	855	334	605	826	577	537	539	557
Capex / Sales	4.53%	2.22%	3.28%	4.81%	3.48%	3.21%	3.19%	3.3%
Announcement Date	3/3/20	3/2/21	3/1/22	3/1/23	3/12/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Kohl's Corporation

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

25.74 USD

Average target price

26.79 USD

Spread / Average Target

+4.06%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Retail - Department Stores

	1st Jan change	Capi.
KOHL'S CORPORATION	-10.25%	2.85B
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ISETAN MITSUKOSHI HOLDINGS LTD.	+87.58%	6.73B
CANADIAN TIRE CORPORATION, LIMITED	+2.45%	6.13B
MACY'S, INC.	-3.13%	5.36B
CCOOP GROUP CO., LTD	+30.82%	5.07B
PEPKOR HOLDINGS LIMITED	-3.21%	3.83B

Retail - Department Stores