ROSS Stores (ROST) FY2011 results: revenue $8.6 billion, up 9.4% on the year
ROSS Stores, Inc. (ROST) reported revenue of $8.6 billion for fiscal 2011, the year ended 28 January 2012, up 9.4% on the year before. Net income was $657 million, up 18.5%, and diluted earnings per share $1.43. The figures are the company's own, from the 10-K it filed with the SEC on 27 March 2012.
Revenue
$8.6 billion
+9.4% on the year
FY2008FY2011
Operating margin
12.2%
11.4% a year earlier
FY2008FY2011
Net income
$657 million
+18.5% on the year
FY2008FY2011
Diluted EPS
$1.43
+23.5% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
8,608
7,866
7,184
+9.4%
Cost of revenue
6,241
5,730
5,327
+8.9%
Gross profit
2,368
2,136
1,857
+10.8%
Gross margin
27.5%
27.2%
25.8%
Selling, general and administrative
1,304
1,230
1,131
+6.0%
Operating income
1,053
897
719
+17.4%
Operating margin
12.2%
11.4%
10.0%
Pre-tax income
1,053
897
719
+17.4%
Income tax
396
342
276
+15.7%
Effective tax rate
37.6%
38.2%
38.4%
Net income
657
555
443
+18.5%
Net margin
7.6%
7.1%
6.2%
Diluted EPS
$1.43
$1.16
$0.89
+23.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
820
673
888
+21.8%
Capital expenditure
416
199
158
+109.5%
Free cash flow
404
474
730
-14.9%
Free cash flow margin
4.7%
6.0%
10.2%
Cash from investing
-472
-197
-137
Cash from financing
-532
-411
-305
Depreciation and amortisation
160
161
159
-0.5%
Share-based compensation
40.4
36.6
25.7
+10.5%
Buybacks
450
375
300
+20.0%
Dividends paid
102
77.3
55.2
+32.0%
Dividend per share
$0.23
$0.17
$0.12
+34.3%
Diluted shares, weighted
460m
480m
500m
-4.1%
Shares outstanding at period end
454m
472m
492m
-3.9%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
1,493
1,333
1,157
+12.0%
Debt
150
150
150
0.0%
Other liabilities
1,658
1,634
1,461
+1.5%
Total liabilities and equity
3,301
3,116
2,769
+5.9%
Fixed assets
1,242
984
943
+26.2%
Goodwill
2.9
2.9
2.9
0.0%
Investments
6.3
17.3
18.6
-63.8%
Cash and equivalents
650
834
768
-22.1%
Receivables
50.8
45.4
44.2
+12.0%
Inventory
1,130
1,087
872
+4.0%
Other assets
220
146
119
+50.4%
Total assets
3,301
3,116
2,769
+5.9%
10-K for the year ended 28 January 2012, filed 27 March 2012: the filing.