Ross Stores Inc ROST

Consumer DiscretionarySpecialty RetailersUnited States of America

Last close 230.59 USD on Nov 2, 2026, +28.8% year to date

Quant rating

Quant rating A+ Rank 6 of 344 in Consumer Discretionary

Growth B 81 of 344
Valuation C 243 of 344
Quality A 5 of 344
Revisions B 70 of 344
Momentum B 127 of 344

Wall Street consensus Buy (1.95)Average target 273.44 USD +18.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 73.7B
Enterprise value: 70.4B
52-week range: 157.66 – 256.85
3-year range: 118.32 – 256.85
Dividend yield: 0.78%
Beta (5 years): 0.85
Shares outstanding: 319M
Next earnings: Nov 18, 2026

About the company

Ross Stores, Inc. is engaged in operating two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dds DISCOUNTS. Ross is the off-price apparel and home fashion chain in the United States, with approximately 1,904 locations in 44 states, the District of Columbia, Guam, and Puerto Rico. Ross offers in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. Ross target customers are primarily from middle-income households. It also operates approximately 363 dds DISCOUNTS stores in 22 states. dds DISCOUNTS features more moderately priced in- season, name brand apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 70% off moderate department and discount store regular prices every day. It operates a total of approximately 2,186 stores.

Growth and profitability fiscal year ends January 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	22,751	21,129	20,377	18,696	18,916	–
Revenue growth	7.7%	3.7%	9.0%	−1.2%	50.9%	12.7%
EPS (basic, normalized)	6.61	6.32	5.56	4.38	4.87	–
EPS growth	4.6%	13.7%	26.9%	−10.1%	–	–
Gross margin	27.7%	27.8%	27.4%	25.4%	27.5%	27.2%
Net margin	9.4%	9.9%	9.2%	8.1%	9.1%	9.1%
ROE	36.7%	40.3%	40.9%	36.2%	46.9%	40.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	4,288
Current ratio	1.61x
Long-term debt (mil)	777
Net debt (mil)	−3,270
Total equity (mil)	6,743
Net debt / equity	−0.48x
Net debt / EBITDA	−1.02x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	22,751	+7.7%	3.1x	3,217	+7.3%	21.9x	6.61	+4.6%	34.9x
2027	25,792	+13.4%	2.7x	3,996	+24.2%	17.6x	8.32	+25.9%	27.7x
2028	27,507	+6.6%	2.6x	4,224	+5.7%	16.7x	9.00	+8.2%	25.6x
2029	29,364	+6.8%	2.4x	4,615	+9.3%	15.3x	9.99	+10.9%	23.1x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	25,792	+0.3%	+2.3%	+5.7%	8.32	−0.1%	+7.1%	+12.9%
2028	27,507	+0.1%	+2.9%	+6.1%	9.00	+0.5%	+5.6%	+10.6%
2029	29,364	+0.3%	+3.2%	+6.4%	9.99	+2.2%	+7.8%	+10.7%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Apr 2024	Jul 2024	Oct 2024	Jan 2025	Apr 2025	Jul 2025	Oct 2025	Jan 2026	Apr 2026	Jul 2026
Sales reported (mil)	4,858	5,288	5,071	5,912	4,985	5,529	5,601	6,635	6,010	6,265
Sales mean (mil)	4,833	5,248	5,146	5,956	4,970	5,574	5,418	6,439	5,640	6,180
Surprise	+0.5%	+0.8%	−1.4%	−0.7%	+0.3%	−0.8%	+3.4%	+3.0%	+6.6%	+1.4%
EPS reported	1.46	1.59	1.48	1.79	1.47	1.56	1.58	2.00	2.02	2.06
EPS mean	1.35	1.50	1.40	1.66	1.44	1.54	1.41	1.90	1.73	1.94
Surprise	+8.5%	+6.2%	+6.0%	+8.1%	+2.0%	+1.6%	+12.3%	+5.1%	+16.8%	+6.2%

Peer comparison Specialty Retailers

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ROST Ross Stores Inc	73.7B	−1.02x	9.4%	10.93x	27.7x	25.6x	17.6x	16.7x
ULTA Ulta Beauty Inc	27.3B	0.07x	9.3%	10.32x	22.0x	19.8x	13.7x	13.0x
TPR Tapestry, Inc.	24.0B	0.56x	19.1%	34.97x	15.2x	13.6x	11.3x	10.6x
AS Amer Sports Inc	17.1B	0.35x	6.5%	2.49x	23.1x	18.7x	11.1x	9.4x
BURL Burlington Stores, Inc.	15.0B	0.94x	5.3%	7.49x	20.2x	17.5x	10.7x	9.5x
DKS DICK'S Sporting Goods, Inc.	12.6B	0.50x	4.9%	2.21x	12.4x	10.9x	6.4x	5.8x
Mean		0.23x	9.1%	11.40x	20.1x	17.7x	11.8x	10.8x
Median		0.42x	7.9%	8.91x	21.1x	18.1x	11.2x	10.0x

Technical analysis

1M+0.9%
3M−8.0%
1Y+46.3%
3Y+100.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Ross Stores Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	22,751	21,129	20,377	18,696	18,916	12,532
Cost of revenue	16,447	15,261	14,802	13,946	13,709	9,839
Gross profit	6,303	5,869	5,575	4,750	5,207	2,693
Selling, general & administrative expenses	3,596	3,283	3,268	2,759	2,874	2,263
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	–	–	240
Other operating expenses	0	0	0	0	0	0
Operating income	2,707	2,586	2,308	1,990	2,333	190
Net interest income (expense)	135	172	164	−2.8	−74.3	−83.4
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	2,842	2,757	2,472	1,987	2,259	106
Provision for taxes	697	666	597	475	536	20.9
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	2,145	2,091	1,875	1,512	1,723	85.4
Extraordinary items	–	–	–	–	–	–
Net income	2,145	2,091	1,875	1,512	1,723	85.4
EBIT, normalized	2,707	2,586	2,308	1,990	2,333	430
EBITDA, normalized	3,217	3,032	2,727	2,385	2,694	794
Basic EPS, normalized	6.61	6.32	5.56	4.38	4.87	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Ross Stores Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	4,594	4,731	4,872	4,552	4,922	4,819
Receivables	181	144	131	146	119	115
Total inventory	2,631	2,445	2,192	2,023	2,262	1,509
Prepaid expenses	212	202	188	171	158	163
Other current assets	20.9	17.1	14.5	12.7	11.4	85.7
Total current assets	7,640	7,539	7,398	6,905	7,473	6,692
Property, plant & equipment	7,608	7,087	6,659	6,280	5,926	5,795
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	300	279	243	232	241	230
Total assets	15,549	14,905	14,300	13,416	13,640	12,718
Liabilities
Accounts payable	2,386	2,126	1,956	2,010	2,372	2,257
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,879	1,792	1,904	1,574	1,832	1,591
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	500	700	250	0	0	64.9
Other current liabilities	61.8	43.7	76.4	52.1	10.2	54.7
Total current liabilities	4,827	4,662	4,186	3,636	4,215	3,967
Long-term debt	1,018	1,515	2,211	2,457	2,452	2,448
Minority interest	–	–	–	–	–	–
Other liabilities	3,516	3,219	3,032	3,035	2,913	3,012
Total liabilities	9,361	9,396	9,429	9,128	9,580	9,427
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	3.2	3.3	3.4	3.4	3.5	3.6
Additional paid-in capital	2,257	2,097	1,953	1,820	1,718	1,580
Retained earnings (accumulated deficit)	4,726	4,128	3,549	3,050	2,875	2,186
Treasury stock	−799	−719	−633	−585	−536	−479
Other equity	0	0	0	0	0	0
Total equity	6,187	5,509	4,871	4,289	4,060	3,291
Total liabilities & shareholders' equity	15,549	14,905	14,300	13,416	13,640	12,718

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Ross Stores Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	2,145	2,091	1,875	1,512	1,723	85.4
Depreciation, depletion & amortization	509	447	419	395	361	364
Deferred taxes	74.4	−9.2	−20.8	79.4	15.8	−27.8
Non-cash items	175	94.7	145	122	134	342
Changes in working capital	123	−266	95.9	−419	−494	1,483
Cash from operations	3,027	2,357	2,514	1,689	1,739	2,246
Investing activities
Capital expenditures	−819	−720	−763	−654	−558	−405
Other investing cash flows	0	82.6	0	0	0	0
Cash from investing	−819	−637	−763	−654	−558	−405
Financing activities
Financing cash flow items	−9.4	−8.8	–	0	0	−233
Cash dividends paid	−528	−489	−455	−431	−405	−101
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−1,805	−1,361	−974	−974	−747	2,036
Cash from financing	−2,342	−1,859	−1,428	−1,405	−1,152	1,702
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−134	−139	323	−370	28.6	3,542
Free cash flow	2,208	1,637	1,752	1,035	1,181	1,840

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.