ROSS Stores (ROST) FY2018 results: revenue $15.0 billion, up 6.0% on the year
ROSS Stores, Inc. (ROST) reported revenue of $15.0 billion for fiscal 2018, the year ended 2 February 2019, up 6.0% on the year before. Net income was $1.6 billion, up 16.5%, and diluted earnings per share $4.26. The figures are the company's own, from the 10-K it filed with the SEC on 2 April 2019.
Revenue
$15.0 billion
+6.0% on the year
FY2011FY2018
Operating margin
13.7%
14.4% a year earlier
FY2011FY2018
Net income
$1.6 billion
+16.5% on the year
FY2011FY2018
Diluted EPS
$4.26
+20.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
14,984
14,135
12,867
+6.0%
Cost of revenue
10,726
10,043
9,174
+6.8%
Gross profit
4,257
4,092
3,693
+4.0%
Gross margin
28.4%
29.0%
28.7%
Selling, general and administrative
2,217
2,044
1,890
+8.5%
Operating income
2,051
2,041
1,786
+0.5%
Operating margin
13.7%
14.4%
13.9%
Interest expense
17.9
18.6
18.6
-3.6%
Pre-tax income
2,051
2,041
1,786
+0.5%
Income tax
463
678
669
-31.6%
Effective tax rate
22.6%
33.2%
37.4%
Net income
1,587
1,363
1,118
+16.5%
Net margin
10.6%
9.6%
8.7%
Diluted EPS
$4.26
$3.55
$2.83
+20.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,067
1,681
1,559
+22.9%
Capital expenditure
414
371
298
+11.4%
Free cash flow
1,653
1,310
1,261
+26.2%
Free cash flow margin
11.0%
9.3%
9.8%
Cash from investing
-410
-355
-296
Cash from financing
-1,531
-1,149
-916
Depreciation and amortisation
330
313
303
+5.5%
Share-based compensation
95.6
87.4
74.6
+9.3%
Buybacks
1,075
875
700
+22.9%
Dividends paid
337
248
215
+36.2%
Dividend per share
$0.90
$0.64
$0.54
+40.6%
Diluted shares, weighted
373m
384m
395m
-3.0%
Shares outstanding at period end
368m
380m
392m
-3.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,306
3,049
2,748
+8.4%
Debt
312
397
396
-21.3%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
2,456
2,276
2,165
+7.9%
Total liabilities and equity
6,074
5,722
5,309
+6.1%
Fixed assets
2,475
2,382
2,328
+3.9%
Investments
0.1
1.2
1.3
-89.8%
Cash and equivalents
1,413
1,290
1,112
+9.5%
Receivables
96.7
87.9
75.2
+10.1%
Inventory
1,750
1,642
1,513
+6.6%
Other assets
338
318
280
+6.2%
Total assets
6,074
5,722
5,309
+6.1%
10-K for the year ended 2 February 2019, filed 2 April 2019: the filing.