Ross Stores, Inc.ROST
NasdaqGS•Consumer Cyclical•Apparel Retail
Ross Stores, Inc., together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands in the United States. The company offers designer apparel, accessories, footwear, and home-fashioned products for the entire family. It sells its products to middle income households and households with lower to more moderate incomes. Ross Stores, Inc. was incorporated in 1957 and is headquartered in Dublin, California.
Ross Stores, Inc. (ROST) reported trailing twelve months revenue of $22.75B as of January 2026, a 7.7% increase year-over-year. Quarterly revenue reached $6.64B, reflecting continued top-line momentum.
Ross Stores, Inc. generated $2.15B in TTM net income, with quarterly EBITDA of $949.12M. The operating margin contracted from 12.4% to 12.3%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (12.3%) and net margin (9.7%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 9.9% a year ago, reflecting increased costs or interest expense.
ROST trades at a P/E of 28.4x (in line with broad market averages) and a P/S of 2.7x. The price-to-book ratio of 9.8x indicates a significant premium over book value.
The company generated $920.81M in free cash flow over the trailing twelve months, a 36.1% increase year-over-year, indicating cash generation ability. The balance sheet shows $15.55B in total assets with $1.02B in long-term debt against $6.19B in stockholders equity for a debt-to-equity ratio of 0.2, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~12.1% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 37.8% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~9.7% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~11.9% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 3.2% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation