ROSS Stores (ROST) FY2014 results: revenue $11.0 billion, up 7.9% on the year
ROSS Stores, Inc. (ROST) reported revenue of $11.0 billion for fiscal 2014, the year ended 31 January 2015, up 7.9% on the year before. Net income was $925 million, up 10.4%, and diluted earnings per share $2.21. The figures are the company's own, from the 10-K it filed with the SEC on 31 March 2015.
Revenue
$11.0 billion
+7.9% on the year
FY2008FY2014
Operating margin
13.5%
13.1% a year earlier
FY2008FY2014
Net income
$925 million
+10.4% on the year
FY2008FY2014
Diluted EPS
$2.21
+13.9% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
11,042
10,230
9,721
+7.9%
Cost of revenue
7,938
7,361
7,011
+7.8%
Gross profit
3,104
2,869
2,710
+8.2%
Gross margin
28.1%
28.0%
27.9%
Selling, general and administrative
1,615
1,526
1,438
+5.8%
Operating income
1,485
1,343
1,265
+10.6%
Operating margin
13.5%
13.1%
13.0%
Interest expense
13.0
9.7
9.7
+33.6%
Pre-tax income
1,485
1,343
1,265
+10.6%
Income tax
561
506
478
+10.8%
Effective tax rate
37.7%
37.7%
37.8%
Net income
925
837
787
+10.4%
Net margin
8.4%
8.2%
8.1%
Diluted EPS
$2.21
$1.94
$1.76
+13.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
1,373
1,022
980
+34.3%
Capital expenditure
647
551
424
+17.5%
Free cash flow
726
471
555
+54.0%
Free cash flow margin
6.6%
4.6%
5.7%
Cash from investing
-639
-564
-426
Cash from financing
-460
-682
-557
Depreciation and amortisation
233
206
185
+13.0%
Share-based compensation
53.0
46.8
49.0
+13.1%
Buybacks
550
550
450
0.0%
Dividends paid
168
148
126
+13.9%
Dividend per share
$0.40
$0.26
$0.29
+56.9%
Diluted shares, weighted
418m
432m
446m
-3.1%
Shares outstanding at period end
415m
427m
441m
-2.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,279
2,007
1,767
+13.5%
Debt
396
150
150
+163.7%
Other liabilities
2,013
1,739
1,754
+15.7%
Total liabilities and equity
4,687
3,897
3,671
+20.3%
Fixed assets
2,274
1,875
1,493
+21.2%
Goodwill
2.9
2.9
2.9
0.0%
Investments
3.6
15.7
5.5
-77.0%
Cash and equivalents
697
423
647
+64.6%
Receivables
73.3
62.6
59.6
+17.0%
Inventory
1,373
1,257
1,209
+9.2%
Other assets
265
260
253
+1.8%
Total assets
4,687
3,897
3,671
+20.3%
10-K for the year ended 31 January 2015, filed 31 March 2015: the filing.