TJX Companies management check
TJX · Consumer Discretionary · Apparel Retail · CEO Ernie Herrman
Filings as of
5 good · 2 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2022 grew to $252, against $209 for the peer group the company picked itself.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.42 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.5% of net income$26.6m of reported pay in fiscal 2026, against $5.5bn of net income.
- Watch
Do they own the stock?
CEO stake ≈ 3.3 years of payThe CEO holds 552,850 shares, directly or through trusts (unvested awards not counted): about 3.3 years of pay. 6 insiders sold $27.7m in the last six months and none bought.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -1.3% a year over the last three fiscal years. Stock-based pay was 0.4% of revenue in the latest year.
- Good
Is leadership stable?
4 leadership filings in 3 yearsCEO in the pay table: Mr. Herrman. 4 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Discretionary.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 76 | 70 | |
| Pay for performance | 71 | 79 | |
| CEO cost | 76 | 44 | |
| Skin in the game | 41 | 36 | |
| Dilution | 67 | 74 | |
| Stable leadership | 100 | 80 | |
| Clean books | 100 | 100 |
Closest peers
Others in Apparel Retail, by management score. TJX Companies is 16th of 47 in its sector.
- 100CVNACarvana76
- 102MARMarriott International76
- 106RLRalph Lauren Corporation76
- 109TJXTJX Companies76
- 111HLTHilton Worldwide76
- 292ROSTRoss Stores62
Pay versus performance
From the proxy statement filed April 30, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2026 | Mr. Herrman | $26.6m | $47.4m | $9.1m | $252 | $209 | $5.5bn |
| 2025 | — | $23.5m | $48.0m | $7.8m | $207 | $173 | $4.9bn |
| 2024 | — | $22.2m | $43.6m | $7.4m | $160 | $139 | $4.5bn |
| 2023 | — | $20.5m | $22.7m | $7.8m | $132 | $121 | $3.5bn |
| 2022 | — | $31.8m | $48.1m | $12.4m | $113 | $109 | $3.3bn |
The board says pay is tied most to MIP Incentive Pre-Tax Income. Its other key measures: Incentive Pre-Tax Income, Incentive EPS, Incentive ROIC.
Insiders and the CEO's stake
Ernie Herrman (CEO & President) held 552,850 shares directly after their latest Form 4 on Jun 5, 2026, roughly $88.8m at that filing's price.
6 insiders sold $27.7m in the last six months and none bought.
- SoldErnie HerrmanCEO & President$10.7mJun 5, 2026
- SoldCarol MeyrowitzExecutive Chairman$9.1mJun 9, 2026
- SoldKenneth CanestrariSEVP - Group President$5.0mJun 3, 2026
- SoldPeter BenjaminSEVP, Group President$1.8mJun 10, 2026
Leadership and governance on file
- Oct 20, 2026Leadership change8-K 5.02
- Sep 17, 2026Leadership change8-K 5.02
- Feb 3, 2025Leadership change8-K 5.02
- Feb 6, 2024Leadership change8-K 5.02
- Sep 22, 2023Leadership change8-K 5.02
- Jun 8, 2023Leadership change8-K 5.02
- Nov 16, 2022Leadership change8-K 5.02
- Nov 10, 2022Leadership change8-K 5.02
- Jun 9, 2022Leadership change8-K 5.02
- May 3, 2022Leadership change8-K 5.02
- Feb 1, 2022Leadership change8-K 5.02
Latest shareholder vote results: Jun 11, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $19.5bn returned to owners in buybacks and dividends, 90% of net income, and $868.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $48.5bn | $49.9bn | $54.2bn | $56.4bn | $60.4bn |
| Net income | $3.3bn | $3.5bn | $4.5bn | $4.9bn | $5.5bn |
| Stock-based pay | $189.0m | $122.0m | $160.0m | $183.0m | $214.0m |
| Buybacks | $2.2bn | $2.3bn | $2.5bn | $2.5bn | $2.5bn |
| Dividends | $1.3bn | $1.3bn | $1.5bn | $1.6bn | $1.8bn |
| Diluted shares | 1216m | 1178m | 1159m | 1142m | 1128m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.