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ROSS Stores (ROST) FY2024 results: revenue $21.1 billion, up 3.7% on the year

ROSS Stores, Inc. (ROST) reported revenue of $21.1 billion for fiscal 2024, the year ended 1 February 2025, up 3.7% on the year before. Net income was $2.1 billion, up 11.5%, and diluted earnings per share $6.32. The figures are the company's own, from the 10-K it filed with the SEC on 1 April 2025.

Revenue
$21.1 billion
+3.7% on the year
FY2017FY2024
Operating margin
12.2%
11.3% a year earlier
FY2017FY2024
Net income
$2.1 billion
+11.5% on the year
FY2017FY2024
Diluted EPS
$6.32
+13.7% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue21,12920,37718,696+3.7%
Cost of revenue15,26114,80213,946+3.1%
Gross profit5,8695,5754,750+5.3%
Gross margin27.8%27.4%25.4%
Selling, general and administrative3,2833,2682,759+0.5%
Operating income2,5862,3081,990+12.0%
Operating margin12.2%11.3%10.6%
Pre-tax income2,7572,4721,987+11.5%
Income tax666597475+11.6%
Effective tax rate24.2%24.2%23.9%
Net income2,0911,8751,512+11.5%
Net margin9.9%9.2%8.1%
Diluted EPS$6.32$5.56$4.38+13.7%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow2,3572,5141,689-6.3%
Capital expenditure720763654-5.6%
Free cash flow1,6371,7521,035-6.6%
Free cash flow margin7.7%8.6%5.5%
Cash from investing-637-763-654
Cash from financing-1,859-1,428-1,405
Depreciation and amortisation447419395+6.5%
Share-based compensation156145122+7.4%
Buybacks1,050950950+10.5%
Dividends paid489455431+7.5%
Dividend per share$1.47$1.34$1.24+9.7%
Diluted shares, weighted331m337m345m-1.9%
Shares outstanding at period end329m335m343m-1.9%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity5,5094,8714,289+13.1%
Debt2,2152,4612,457-10.0%
Operating lease liabilities2,7642,6032,594+6.2%
Other liabilities4,4174,3654,077+1.2%
Total liabilities and equity14,90514,30013,416+4.2%
Fixed assets3,7923,5323,182+7.4%
Cash and equivalents4,7314,8724,552-2.9%
Receivables144131146+10.5%
Inventory2,4452,1922,023+11.5%
Other assets3,7933,5733,514+6.2%
Total assets14,90514,30013,416+4.2%

10-K for the year ended 1 February 2025, filed 1 April 2025: the filing.