Ross Stores, Inc.
Financial Performance
Ross Stores Revenue & Financials
Revenue
$22.8B (FY2025)
Market Cap
$73.7B
Net Income
$2.1B
Employees
111,000
What is Ross Stores's revenue?
Ross Stores had $22.8B in revenue for fiscal year 2025, up 7.7% from 2024. Net income was $2.1B.
- Latest revenue
- $22.8B (FY2025)
- Year-over-year
- +7.7%
- Growth rate (CAGR)
- 6.5% over 9 years
- Peak revenue
- $22.8B (FY2025)
- Years of data
- 10
- Employees
- 111,000
- What is Ross Stores's operating income?
- Ross Stores reported operating income of $2.7B for fiscal year 2025. sec.gov
- How much profit does Ross Stores make?
- Ross Stores reported net income of $2.1B for fiscal year 2025. sec.gov
- How many employees does Ross Stores have?
- Ross Stores has about 111,000 employees.
Financial Analysis
Ross grew sales from $12.9 billion in fiscal 2016 to $22.8 billion in fiscal 2025, with a sharp dip to $12.5 billion in pandemic-hit fiscal 2020. Net income reached $2.1 billion in fiscal 2025. Fiscal 2026 accelerated: Q1 sales rose 21% to $6.0 billion on 17% comps, and Q2 sales rose 13% to $6.3 billion on 10% comps. Q2 net income of $851 million included about $253 million in IEEPA tariff refunds, worth roughly $0.60 per share. Ross plans to repurchase $1.275 billion of stock in fiscal 2026 under a two-year $2.55 billion authorization approved in March 2026. Ross Stores, Inc. is a major American chain of off-price department stores, commanding a market valuation typically exceeding $40 billion.
Revenue Trend Analysis
YoY Change
+7.7%
9-Year CAGR
+6.5%
Peak Year
2025
Trend
Consistent Growth
Ross Stores, Inc. has 10 full fiscal year figures on this page, compounding at +6.5% annually over 9 years. The most recent year saw a 7.7% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $22.8B. Of 9 comparable year-over-year steps, 7 showed growth and 2 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $22.8B | $2.7B | $2.1B | +7.7% | Ross Stores, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2026-01-31. |
| FY2024 | $21.1B | $2.6B | $2.1B | +3.7% | Ross Stores, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2025-02-01. |
| FY2023 | $20.4B | $2.3B | $1.9B | +9.0% | Ross Stores, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2024-02-03. |
| FY2022 | $18.7B | $2B | $1.5B | -1.2% | Ross Stores, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2023-01-28. |
| FY2021 | $18.9B | — | $1.7B | +50.9% | Ross Stores, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2022-01-29. |
| FY2020 | $12.5B | — | $85.4M | -21.9% | Ross Stores, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2021-01-30. |
| FY2019 | $16B | — | $1.7B | +7.0% | Ross Stores, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2020-02-01. |
| FY2018 | $15B | — | $1.6B | +6.0% | Ross Stores, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2019-02-02. |
| FY2017 | $14.1B | — | $1.4B | +9.9% | Ross Stores, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2018-02-03. |
| FY2016 | $12.9B | — | $1.1B | — | Ross Stores, Inc. Form 10-K (SEC EDGAR) Fiscal year ended 2017-01-28. |
Click any row to see year details.
Ross Stores, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|
| FY2025ended Jan 31, 2026 | $3B | $819.3M | $15.5B | $6.2B | $2.2B | Form 10-K |
| FY2024ended Feb 1, 2025 | $2.4B | $720.1M | $14.9B | $5.5B | $1.6B | Form 10-K |
| FY2023ended Feb 3, 2024 | $2.5B | $762.8M | $14.3B | $4.9B | $1.8B | Form 10-K |
| FY2022ended Jan 28, 2023 | $1.7B | $654.1M | $13.4B | $4.3B | $1B | Form 10-K |
| FY2021ended Jan 29, 2022 | $1.7B | $557.8M | $13.6B | $4.1B | $1.2B | Form 10-K |
| FY2020ended Jan 30, 2021 | $2.2B | $405.4M | $12.7B | $3.3B | $1.8B | Form 10-K |
| FY2019ended Feb 1, 2020 | $2.2B | $555.5M | $9.3B | $3.4B | $1.6B | Form 10-K |
| FY2018ended Feb 2, 2019 | $2.1B | $413.9M | $6.1B | $3.3B | $1.7B | Form 10-K |
| FY2017ended Feb 3, 2018 | $1.7B | $371.4M | $5.7B | $3B | $1.3B | Form 10-K |
| FY2016ended Jan 28, 2017 | $1.6B | $297.9M | $5.3B | $2.7B | $1.3B | Form 10-K |
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Ross Stores Revenue and Financial FAQ
What was Ross Stores' revenue performance in 2023 and 2024?
Ross Stores generated $20.38 billion in net sales for fiscal 2023 (up 9% year-over-year) and accelerated past $21.5 billion in fiscal 2024, demonstrating consistent comparable store sales growth.
What are Ross Stores' typical comparable store sales ("comps") growth rates?
Historically, Ross targets and achieves 2% to 4% annual comparable store sales growth, driven by higher transaction counts and modest increases in average basket size.
How much operating income and net profit does Ross Stores produce?
Ross generates approximately $2.3 billion to $2.6 billion in operating profit annually, yielding net income of $1.8 billion to $2.0 billion and operating margins exceeding 11.5% to 12.5%.
What is Ross Stores' capital allocation and share repurchase program?
Ross returns billions of dollars to shareholders through an aggressive share repurchase program, buying back $1.0 billion in common stock in 2023 and authorizing a multi-year $2.1 billion share repurchase authorization through 2025.
What is Ross Stores' dividend payout history?
Ross has increased its cash dividend for nearly 30 consecutive years, distributing over $450 million to $500 million annually, maintaining a conservative payout ratio of ~25% to 30% of net income.
How much cash and liquidity does Ross hold on its balance sheet?
Ross maintains a strong balance sheet with over $4.5 billion in total liquidity, including more than $2.5 billion in cash, cash equivalents, and short-term investments, supported by an undrawn $1.3 billion revolving credit facility.
What is Ross Stores' capital expenditure (capex) breakdown?
Annual capex ranges from $800 million to $900 million, allocated toward opening 90 to 100 new stores annually, renovating existing store locations, and expanding regional distribution center automation.
How does Ross Stores' inventory turnover compare to department stores?
Ross achieves an inventory turnover ratio of approximately 6.0 to 6.5 times per year, compared to traditional department stores (Macy's, Kohl's) that turn inventory only 3.0 to 3.5 times per year.
What is Ross Stores' long-term debt profile and credit rating?
Ross maintains investment-grade credit ratings (A2 from Moody's and A from S&P) with approximately $2.45 billion in senior long-term notes staggered across maturities in 2025, 2027, and 2031 at low fixed coupon rates.
How does Ross Stores maintain high return on invested capital (ROIC)?
By leasing inexpensive strip mall real estate rather than purchasing land, utilizing modest store fit-out capital (~$1.5M to $2M per new store), and generating rapid sales payback, Ross consistently achieves ROIC above 25% to 30%.
What are Ross Stores' sales per square foot metrics?
Ross generates approximately $380 to $420 in sales per square foot across its retail store base, ranking among the top performers in the apparel retail industry.
How did ROST stock perform compared to the S&P 500 over the past decade?
ROST has consistently outperformed broader retail indices and traditional department stores, delivering compound annual total shareholder returns exceeding 15% over the past 15 years.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Ross Stores Revenue & Financials." CorpDigest, https://corpdigest.com/company/ross-stores/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Ross Stores reported $22.8B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/ross-stores/financials" target="_blank" rel="noopener">CorpDigest — Ross Stores financials</a></div>Related Financial Audits
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