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Ross Stores, Inc. (ROST)

NASDAQ / Consumer Cyclical / Apparel - Retail

Share price

234.83 USD Market dataClose of Oct 15, 2026

Market capitalisation

75.33B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Mar 31, 2026
Ratios computed
Oct 15, 2026
Filed years
16, FY2010 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

30.0% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

35.26x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

2.9% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 12.87B USDFY2016 Net income: 1.12B USDFY2017 Revenue: 14.13B USDFY2017 Net income: 1.36B USDFY2018 Revenue: 14.98B USDFY2018 Net income: 1.59B USDFY2019 Revenue: 16.04B USDFY2019 Net income: 1.66B USDFY2020 Revenue: 12.53B USDFY2020 Net income: 85.4M USDFY2021 Revenue: 18.92B USDFY2021 Net income: 1.72B USDFY2022 Revenue: 18.70B USDFY2022 Net income: 1.51B USDFY2023 Revenue: 20.38B USDFY2023 Net income: 1.87B USDFY2024 Revenue: 21.13B USDFY2024 Net income: 2.09B USDFY2025 Revenue: 22.75B USDFY2025 Net income: 2.15B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
2 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 35.26x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 25.00x and 40.00x.

Today, against the Consumer Cyclical sector (302 companies), 35.26x sits at the 80th percentile; the middle half of that group runs from 12.87x to 31.26x.

Is it good

Return on invested capital was 30.0% in FY2025, in the band labelled "Exceptional" (20.0% and above), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on the capital in the business well above the usual cost of that capital.

Today, against the Consumer Cyclical sector (222 companies), 30.0% sits at the 92nd percentile; the middle half of that group runs from 3.6% to 14.8%.

Is it safe

Net debt to EBITDA was 0.19x in FY2025, in the band labelled "Low leverage" (below 1.00x), on lines set by credit-analyst convention, suggesting debt that a year or so of operating earnings would repay.

No peer distribution is published for net debt to EBITDA today; the year-by-year comparison uses the filed annual figures.

Year by year against peers
Whether Ross Stores, Inc.'s return on invested capital stayed above the median of the Consumer Cyclical sector, year by year. (FY2022 to FY2025, 4 fiscal years of Ross Stores, Inc. with a comparable figure)
The direction
Which way Ross Stores, Inc.'s return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Ross Stores, Inc.)
What could explain it
What in Ross Stores, Inc.'s filed statements could explain the movements. (8 readings drawn from the statement lines Ross Stores, Inc. filed)
What to check next
What to check next on Ross Stores, Inc., and where in its filings. (4 questions for Ross Stores, Inc.)
In one paragraph
One paragraph on Ross Stores, Inc.'s returns, cash, balance sheet and price. (15 of sixteen figures read for Ross Stores, Inc.)

These are ROST’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research ROSTPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Mar 31, 2026, accession 0000745732-26-000006.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Ross Stores, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax30.0% ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Return on equity34.7% ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Return on capital employed, pre-tax25.3% ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Return on assets13.8% ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Gross margin27.7% ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Operating margin11.9% ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Net margin9.4% ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
ROST 9.4%
TJX 9.1%BURL 5.3%LULU 14.2%ONON 6.8%
5.3%14.2%
Net margin: ROST against the 4 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Ross Stores, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.84 ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Current ratio1.58 ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Quick ratio1.04 ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Interest coverage
Why n/a

No interest expense is filed for this year, so coverage is not computed.

n/a ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Altman Z-score7.56 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Net debt617.9M ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Total assets 15.55BTotal liabilities 9.36BShareholders' equity 6.19BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Ross Stores, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 31, 2026, 0000745732-26-000006).

Ross Stores, Inc: balance sheet position
Total assets15.55B FiledFY2025 10-K, filed Mar 31, 2026
Total liabilities9.36B FiledFY2025 10-K, filed Mar 31, 2026
Shareholders' equity6.19B FiledFY2025 10-K, filed Mar 31, 2026
Cash4.59B FiledFY2025 10-K, filed Mar 31, 2026
Total debt5.21B FiledFY2025 10-K, filed Mar 31, 2026
Net debt617.9M
Current ratio1.58
Debt to equity0.84
  • Interest cover: FY2025: No interest expense is filed for this year, so coverage is not computed.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Ross Stores, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings35.26x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
P/E on trailing twelve months27.34x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book12.31x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Price to sales3.35x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Enterprise value to EBIT28.37x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Enterprise value to EBITDA23.88x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Price to earnings over growth0.37 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Diluted earnings per share6.61 USD FiledFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Graham number53.46 USD ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006

We publish no fair value or price target of our own. Value ROST on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Ross Stores, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Ross Stores, Inc: valuation
Share price234.83 USD
Market capitalisation75.33B USD
Enterprise value to EBITDA23.88x
Graham number53.46 USD
Diluted earnings per share, FY20256.61 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 13.27x, median 24.51x, high 554.00x, latest 27.34x. 2,520 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Ross Stores, Inc

  1. The TJX Companies, Inc. (TJX)Market cap 159.00B USD
  2. Burlington Stores, Inc. (BURL)Market cap 16.82B USD
  3. Lululemon Athletica Inc. (LULU)Market cap 11.48B USD
  4. On Holding AG (ONON)Market cap 11.59B USD

Same industry (Apparel - Retail) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Ross Stores, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield2.9% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Free cash flow2.21B USD ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Free cash flow margin9.7% ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Dividend yield0.7% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Payout ratio24.6% ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
FY2016 Free cash flow: 1.26B USDFY2016 Net income: 1.12B USDFY2017 Free cash flow: 1.31B USDFY2017 Net income: 1.36B USDFY2018 Free cash flow: 1.65B USDFY2018 Net income: 1.59B USDFY2019 Free cash flow: 1.62B USDFY2019 Net income: 1.66B USDFY2020 Free cash flow: 1.84B USDFY2020 Net income: 85.4M USDFY2021 Free cash flow: 1.18B USDFY2021 Net income: 1.72B USDFY2022 Free cash flow: 1.04B USDFY2022 Net income: 1.51B USDFY2023 Free cash flow: 1.75B USDFY2023 Net income: 1.87B USDFY2024 Free cash flow: 1.64B USDFY2024 Net income: 2.09B USDFY2025 Free cash flow: 2.21B USDFY2025 Net income: 2.15B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Ross Stores, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
35.26xFY2025Oct 15, 2026
12.31xFY2025Oct 15, 2026
28.37xFY2025Oct 15, 2026
2.9%FY2025Oct 15, 2026
30.0%FY2025Mar 31, 2026
0.7%FY2025Oct 15, 2026
0.84FY2025Mar 31, 2026
1.58FY2025Mar 31, 2026
3.35xFY2025Oct 15, 2026
0.37FY2025Oct 15, 2026
7.56FY2025Oct 15, 2026
-2.36FY2025Mar 31, 2026
6/9FY2025Mar 31, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 16 filed fiscal years on record, FY2010 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports Ross Stores, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Ross Stores, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202522.75B2.71B2.15B6.612.21B11.9%34.7%10-K, Mar 31, 20260000745732-26-000006
FY202421.13B2.59B2.09B6.321.64B12.2%38.0%10-K, Apr 1, 20250000745732-25-000010
FY202320.38B2.31B1.87B5.561.75B11.3%38.5%10-K, Apr 2, 20240000745732-24-000009
FY202218.70B1.99B1.51B4.381.04B10.7%35.3%10-K, Mar 28, 20230000745732-23-000013
FY202118.92Bn/a1.72B4.871.18Bn/a42.4%10-K, Mar 29, 20220000745732-22-000014
FY202012.53Bn/a85.4M0.241.84Bn/a2.6%10-K, Mar 30, 20210000745732-21-000017
FY201916.04B2.18B1.66B4.601.62Bn/a49.4%10-K, Mar 31, 20200000745732-20-000016
FY201814.98B2.07B1.59B4.261.65Bn/a48.0%10-K, Apr 2, 20190000745732-19-000009
FY201714.13B2.06B1.36B3.551.31Bn/a44.7%10-K, Apr 3, 20180000745732-18-000004
FY201612.87B1.80B1.12B2.831.26Bn/a40.7%10-K, Mar 28, 20170000745732-17-000009
  • Revenue, compound annual growth FY2016 to FY2025: 6.5%
  • Earnings, compound annual growth FY2016 to FY2025: 7.5%
  • Earnings per share, compound annual growth FY2016 to FY2025: 9.9%
  • Free cash flow, compound annual growth FY2016 to FY2025: 6.4%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Ross Stores, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.36 ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Piotroski F-score6/9 ComputedFY2025 10-K, filed Mar 31, 2026, 0000745732-26-000006
Named tests met2 of 30 Computed
Beta0.54 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 2 met, 28 not met, 0 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
ROIC at or above WACC; Cash-covered dividend
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Figures we could not read(1)
  • Interest Coverage: No interest expense is filed for this year, so coverage is not computed.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • One figure could not be read on this company: Interest Coverage.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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