ROSS Stores (ROST) FY2019 results: revenue $16.0 billion, up 7.0% on the year
ROSS Stores, Inc. (ROST) reported revenue of $16.0 billion for fiscal 2019, the year ended 1 February 2020, up 7.0% on the year before. Net income was $1.7 billion, up 4.6%, and diluted earnings per share $4.60. The figures are the company's own, from the 10-K it filed with the SEC on 31 March 2020.
Revenue
$16.0 billion
+7.0% on the year
FY2012FY2019
Operating margin
13.5%
13.7% a year earlier
FY2012FY2019
Net income
$1.7 billion
+4.6% on the year
FY2012FY2019
Diluted EPS
$4.60
+8.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
16,039
14,984
14,135
+7.0%
Cost of revenue
11,536
10,726
10,043
+7.6%
Gross profit
4,503
4,257
4,092
+5.8%
Gross margin
28.1%
28.4%
29.0%
Selling, general and administrative
2,357
2,217
2,044
+6.3%
Operating income
2,164
2,051
2,041
+5.5%
Operating margin
13.5%
13.7%
14.4%
Interest expense
13.1
17.9
18.6
-26.6%
Pre-tax income
2,164
2,051
2,041
+5.5%
Income tax
503
463
678
+8.6%
Effective tax rate
23.3%
22.6%
33.2%
Net income
1,661
1,587
1,363
+4.6%
Net margin
10.4%
10.6%
9.6%
Diluted EPS
$4.60
$4.26
$3.55
+8.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,172
2,067
1,681
+5.1%
Capital expenditure
555
414
371
+34.2%
Free cash flow
1,616
1,653
1,310
-2.2%
Free cash flow margin
10.1%
11.0%
9.3%
Cash from investing
-555
-410
-355
Cash from financing
-1,683
-1,531
-1,149
Depreciation and amortisation
351
330
313
+6.2%
Share-based compensation
95.4
95.6
87.4
-0.2%
Buybacks
1,275
1,075
875
+18.6%
Dividends paid
370
337
248
+9.7%
Dividend per share
$1.02
$0.90
$0.64
+13.3%
Diluted shares, weighted
361m
373m
384m
-3.1%
Shares outstanding at period end
357m
368m
380m
-3.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,359
3,306
3,049
+1.6%
Short-term borrowings
0.0
n/a
n/a
Debt
313
312
397
+0.1%
Operating lease liabilities
2,611
0.0
n/a
Other liabilities
3,066
2,456
2,276
+24.9%
Total liabilities and equity
9,348
6,074
5,722
+53.9%
Fixed assets
2,653
2,475
2,382
+7.2%
Investments
n/a
0.1
1.2
Cash and equivalents
1,351
1,413
1,290
-4.4%
Receivables
102
96.7
87.9
+5.7%
Inventory
1,832
1,750
1,642
+4.7%
Other assets
3,409
338
318
+907.7%
Total assets
9,348
6,074
5,722
+53.9%
10-K for the year ended 1 February 2020, filed 31 March 2020: the filing.