企業概要
Ross Stores, Inc. operates primarily as an off-price retailer specializing in apparel and home fashion products for the entire family, carrying a wide selection of designer goods, accessories, footwear, and home fashion items under its Ross Dress for Less and dd's DISCOUNTS brands within the United States. The company functions within the Consumer Cyclical sector and the Apparel Retail industry, positioning it as a provider of value-oriented merchandise that is sensitive to broader economic consumption patterns and consumer discretionary spending. In terms of scale, the entity commands a substantial market capitalization of $71.15B and generates annual revenue (TTM) reaching $22.75B, supported by a workforce of approximately 111,000 employees. These valuation and revenue figures indicate that Ross Stores holds a significant position within the apparel retail landscape, reflecting a large operational footprint and a dominant market share relative to smaller regional competitors in the off-price segment.
財務健全性
The company's operational performance is characterized by a revenue (TTM) of $22.75B, which yields a net income (TTM) of $2.15B and an EBITDA of $3.22B. The substantial gap between the top-line revenue of $22.75B and the net income of $2.15B reveals a cost structure where operating expenses, including cost of goods sold, logistics, and overhead, consume approximately 80.6% of total sales before accounting for interest and taxes. Free cash flow stands at $1.64B, providing the organization with robust financial flexibility to fund capital expenditures, manage working capital cycles, and potentially return excess capital to shareholders without compromising liquidity. Profitability analysis shows a gross margin of 32.6%, an operating margin of 12.3%, and a profit margin of 9.4%, indicating that for every dollar of sales, 9.4 cents remains as net profit after all operational costs are deducted. On the balance sheet, total cash reserves of $4.59B are slightly lower than total debt obligations of $5.21B, resulting in a debt-to-equity ratio of 84.24, which suggests a leveraged capital structure typical for capital-intensive retail operations rather than a conservative cash-heavy stance. Short-term liquidity is supported by a current ratio of 1.58, indicating that current assets are more than one and a half times current liabilities, ensuring the ability to meet short-term obligations comfortably. Management effectiveness is highlighted by a return on equity of 36.7% and a return on assets of 11.1%, metrics that demonstrate efficient utilization of shareholder capital and total assets to generate earnings.
バリュエーション評価
Valuation metrics for Ross Stores, Inc. show a trailing P/E ratio (TTM) of 33.33 and a forward P/E of 27.20, where the lower forward multiple implies that the market expects earnings growth that will compress the multiple over the coming fiscal periods. The price-to-book ratio stands at 11.46, indicating that the stock trades at a significant premium over its book value, reflecting investor confidence in the brand's intangible assets and future cash-generating capabilities rather than just its tangible net worth. Alternative valuation measures include a price-to-sales ratio of 3.13 and an EV/EBITDA of 22.24, suggesting the market values the company based on its sales efficiency and earnings quality relative to enterprise value. Price action over the past year has fluctuated between a 52-week high of $222.03 and a 52-week low of $124.36, with the current trading price situated dynamically within this historical range depending on daily market movements. The stock exhibits a beta of 0.93, meaning its price volatility moves in tandem with the broader market but with slightly less sensitivity, suggesting a moderate risk profile compared to high-beta growth stocks.
Growth & Income
Growth dynamics are evidenced by a revenue growth (YoY) of 12.2% and an earnings growth (YoY) of 11.8%, indicating that earnings are growing at a rate nearly identical to revenue, which implies that top-line expansion is translating directly into bottom-line gains without significant dilution from rising costs. As a dividend payer, the company offers a dividend yield of 0.8% with a payout ratio of 24.5%, a level that is highly sustainable given the strong earnings growth and substantial free cash flow generation relative to the dividend obligations. The low payout ratio suggests that the company retains the majority of its earnings to reinvest in store expansion, inventory purchasing, and operational improvements rather than focusing on maximizing immediate shareholder payouts through dividends. Overall, the company presents a growth and income profile characterized by double-digit revenue expansion, highly sustainable dividend payments, and a capital structure that balances shareholder returns with the need for significant capital investment in its retail network.