ROSS STORES, INC. ROST
Ross Stores, Inc. and its subsidiaries ("we", "our", or the "Company") operate two brands of off-price retail apparel and home fashion stores—Ross Dress for Less® ("Ross") and dd's DISCOUNTS®.
Ross is the largest off-price apparel and home fashion chain in the United States, with 1,904 locations in 44 states, the District of Columbia, Guam, and Puerto Rico as of January 31, 2026. Ross offers first-quality, in-season, brand name and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. Ross' target customers are primarily from middle income households.
We also operate 363 dd's DISCOUNTS stores in 22 states as of January 31, 2026. dd's DISCOUNTS features more moderately-priced first-quality, in-season apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 70% off moderate department and discount store regular prices every day. The typical dd's DISCOUNTS store is located in an established shopping center in a densely populated urban or suburban neighborhood, and its target customers typically come from households with lower to more moderate incomes.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.75B | $21.13B | $20.38B | $18.70B | $18.92B | $12.53B | $16.04B | $14.98B | $14.13B | $12.87B |
| Cost of revenue | $16.45B | $15.26B | $14.80B | $13.95B | $13.71B | $9.84B | $11.54B | $10.73B | $10.04B | $9.17B |
| Gross profit | $6.30B | $5.87B | $5.58B | $4.75B | $5.21B | $2.69B | $4.50B | $4.26B | $4.09B | $3.69B |
| SG&A | $3.60B | $3.28B | $3.27B | $2.76B | $2.87B | $2.50B | $2.36B | $2.22B | $2.04B | $1.89B |
| Total operating expenses | — | — | $17.91B | $16.71B | $16.66B | $12.43B | $13.87B | $12.93B | $12.09B | $11.08B |
| Operating income | $2.71B | $2.59B | $2.31B | $1.99B | — | — | — | — | — | — |
| Interest expense | $134.8M | $171.6M | $164.1M | $2.8M | $74.3M | $83.4M | $18.1M | $10.2M | $7.7M | $16.5M |
| Pre-tax income | $2.84B | $2.76B | $2.47B | $1.99B | $2.26B | $106.3M | $2.16B | $2.05B | $2.04B | $1.79B |
| Income tax | $697.1M | $666.4M | $597.3M | $475.4M | $536.0M | $20.9M | $503.4M | $463.4M | $678.0M | $668.5M |
| Net income | $2.15B | $2.09B | $1.87B | $1.51B | $1.72B | $85.4M | $1.66B | $1.59B | $1.36B | $1.12B |
| EPS, basic | 6.66 | 6.36 | 5.59 | 4.40 | 4.90 | 0.24 | 4.63 | 4.30 | 3.58 | 2.85 |
| EPS, diluted | 6.61 | 6.32 | 5.56 | 4.38 | 4.87 | 0.24 | 4.60 | 4.26 | 3.55 | 2.83 |
| Shares, diluted (wtd. avg.) | $324.4M | $331.0M | $337.4M | $345.2M | $353.7M | $354.6M | $361.2M | $372.7M | $384.3M | $395.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.59B | $4.73B | $4.87B | $4.61B | $4.98B | $4.95B | $1.41B | $1.48B | $1.35B | $1.18B |
| Short-term investments | — | — | — | — | — | — | — | $0 | $512.0K | $0 |
| Receivables | $181.3M | $144.5M | $130.8M | $145.7M | $119.2M | $115.1M | $102.2M | $96.7M | $87.9M | $75.2M |
| Inventory | $2.63B | $2.44B | $2.19B | $2.02B | $2.26B | $1.51B | $1.83B | $1.75B | $1.64B | $1.51B |
| Total current assets | $7.64B | $7.54B | $7.40B | $6.90B | $7.47B | $6.69B | $3.43B | $3.40B | $3.15B | $2.81B |
| Property, plant and equipment | $4.09B | $3.79B | $3.53B | $3.18B | $2.90B | $2.71B | $2.65B | $2.48B | $2.38B | $2.33B |
| Total assets | $15.55B | $14.91B | $14.30B | $13.42B | $13.64B | $12.72B | $9.35B | $6.07B | $5.72B | $5.31B |
| Accounts payable | $2.39B | $2.13B | $1.96B | $2.01B | $2.37B | $2.26B | $1.30B | $1.18B | $1.06B | $1.02B |
| Short-term debt | $499.7M | $699.7M | $249.7M | $0 | $0 | $64.9M | $0 | $0 | $85.0M | $0 |
| Total current liabilities | $4.83B | $4.66B | $4.19B | $3.64B | $4.21B | $3.97B | $2.70B | $2.01B | $1.93B | $1.75B |
| Long-term debt | $1.02B | $1.52B | $2.21B | $2.46B | $2.45B | $2.45B | $312.9M | $312.4M | $312.0M | $396.5M |
| Retained earnings | $4.73B | $4.13B | $3.55B | $3.05B | $2.87B | $2.19B | $2.33B | $2.30B | $2.07B | $1.80B |
| Total equity | $6.19B | $5.51B | $4.87B | $4.29B | $4.06B | $3.29B | $3.36B | $3.31B | $3.05B | $2.75B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.03B | $2.36B | $2.51B | $1.69B | $1.74B | $2.25B | $2.17B | $2.07B | $1.68B | $1.56B |
| Depreciation and amortisation | $509.4M | $446.8M | $419.4M | $394.7M | $360.7M | $364.2M | $350.9M | $330.4M | $313.2M | $302.5M |
| Stock-based compensation | $175.4M | $156.3M | $145.5M | $121.9M | $134.2M | $101.6M | $95.4M | $95.6M | $87.4M | $74.6M |
| Capital expenditure | $819.3M | $720.1M | $762.8M | $654.1M | $557.8M | $405.4M | $555.5M | $413.9M | $371.4M | $297.9M |
| Investing cash flow | -$819.3M | -$637.5M | -$762.8M | -$654.1M | -$557.8M | -$405.4M | -$555.0M | -$410.4M | -$354.8M | -$296.2M |
| Financing cash flow | -$2.34B | -$1.86B | -$1.43B | -$1.41B | -$1.15B | $1.70B | -$1.68B | -$1.53B | -$1.15B | -$916.1M |
| Dividends paid | $528.1M | $488.7M | $454.8M | $431.3M | $405.1M | $101.4M | $369.8M | $337.2M | $247.5M | $214.6M |
| Buybacks | $1.05B | $1.05B | $950.0M | $950.0M | $650.0M | $132.5M | $1.27B | $1.07B | $875.0M | $700.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000745732-26-000013.
Others in SIC 5651
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| TJX | TJX COMPANIES INC /DE/ | $145.28B | 27.1x | 7.1% |
| GAP | GAP INC | $7.88B | 10.5x | 1.9% |
| URBN | URBAN OUTFITTERS INC | $6.93B | 16.0x | 11.1% |
| ANF | ABERCROMBIE & FITCH CO /DE/ | $6.35B | 14.3x | 6.4% |
| AEO | AMERICAN EAGLE OUTFITTERS INC | $2.91B | 16.0x | 4.1% |
| BKE | BUCKLE INC | $2.22B | 10.4x | 6.6% |
| LE | LANDS' END, INC. | $323.2M | 60.8x | -2.0% |
| PLCE | Childrens Place, Inc. | $62.5M | — | -12.8% |