ROSS Stores (ROST) FY2020 results: revenue $12.5 billion, down 21.9% on the year
ROSS Stores, Inc. (ROST) reported revenue of $12.5 billion for fiscal 2020, the year ended 30 January 2021, down 21.9% on the year before. Net income was $85 million, down 94.9%, and diluted earnings per share $0.24. The figures are the company's own, from the 10-K it filed with the SEC on 30 March 2021.
Revenue
$12.5 billion
-21.9% on the year
FY2013FY2020
Operating margin
0.8%
13.5% a year earlier
FY2013FY2020
Net income
$85 million
-94.9% on the year
FY2013FY2020
Diluted EPS
$0.24
-94.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
12,532
16,039
14,984
-21.9%
Cost of revenue
9,839
11,536
10,726
-14.7%
Gross profit
2,693
4,503
4,257
-40.2%
Gross margin
21.5%
28.1%
28.4%
Selling, general and administrative
2,503
2,357
2,217
+6.2%
Operating income
106
2,164
2,051
-95.1%
Operating margin
0.8%
13.5%
13.7%
Interest expense
n/a
13.1
17.9
Pre-tax income
106
2,164
2,051
-95.1%
Income tax
20.9
503
463
-95.8%
Effective tax rate
19.7%
23.3%
22.6%
Net income
85.4
1,661
1,587
-94.9%
Net margin
0.7%
10.4%
10.6%
Diluted EPS
$0.24
$4.60
$4.26
-94.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,246
2,172
2,067
+3.4%
Capital expenditure
405
555
414
-27.0%
Free cash flow
1,840
1,616
1,653
+13.9%
Free cash flow margin
14.7%
10.1%
11.0%
Cash from investing
-405
-555
-410
Cash from financing
1,702
-1,683
-1,531
Depreciation and amortisation
364
351
330
+3.8%
Share-based compensation
102
95.4
95.6
+6.4%
Buybacks
132
1,275
1,075
-89.6%
Dividends paid
101
370
337
-72.6%
Dividend per share
$0.28
$1.02
$0.90
-72.1%
Diluted shares, weighted
355m
361m
373m
-1.8%
Shares outstanding at period end
357m
357m
368m
-0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,291
3,359
3,306
-2.0%
Short-term borrowings
0.0
0.0
n/a
Debt
2,513
313
312
+703.2%
Operating lease liabilities
2,622
2,611
0.0
+0.4%
Other liabilities
4,293
3,066
2,456
+40.0%
Total liabilities and equity
12,718
9,348
6,074
+36.0%
Fixed assets
2,710
2,653
2,475
+2.2%
Investments
n/a
n/a
0.1
Cash and equivalents
4,819
1,351
1,413
+256.7%
Receivables
115
102
96.7
+12.6%
Inventory
1,509
1,832
1,750
-17.6%
Other assets
3,564
3,409
338
+4.5%
Total assets
12,718
9,348
6,074
+36.0%
10-K for the year ended 30 January 2021, filed 30 March 2021: the filing.