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Ross Stores (ROST) stock

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NASDAQ: ROST Nasdaq Apparel Retail Next results ~November 19, 2026

B+ Fundamentals grade

Ross Stores is a US-listed company in the apparel retail industry. Its financial year ends in January.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$180

Cash-flow model

Base case. Range ~$140–$240 across our lower- and higher-growth cases (6.2%–16.2% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 27% above our base value.

Price used: $230.59, November 2, 2026

Ross Stores valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 7 selling0 purchases and 10 sales by directors and officers, last 12 monthsInsider trades
  • Funds744 adding, 534 cuttingOf 103 active managers that changed their stake, 45 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Ross Stores files

Where Ross Stores stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $24.5bn, up 14.0% on a year earlier, faster than 11.9% a quarter earlier. Free-cash-flow margin rose to 11.4% from 7.8% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 6 of our 6 financial-health checks. Our cash-flow model value is $190 a share, against a share price of $237. At that price, our model says the market is pricing in about 15.5% a year of cash-flow growth for five years, faster than the 5.3% a year revenue growth it has delivered.

Source: 10-Q filed September 1, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 19, 2026 (estimated)

Ross Stores's trailing-twelve-month revenue grew 14.0% year on year, with a free-cash-flow margin of 11.4%. Where it stands out: free-cash-flow margin of 11.4% ranks 2 of 28 apparel retail companies we cover. Where it lags: gross margin of 29.7% ranks 23 of 26 apparel retail companies we cover.

Our discounted-cash-flow model values the business at ~$180 per share in the base case (~$140–$240 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 66.2% while net income grew 28.9%: a 37pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 1.8% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $3.5bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $230.59 is 21% above our value per share of $180.
  • Insiders selling. 7 insiders sold $23M of stock over the past 365 days and none bought (20% under pre-set trading plans).
  • Below peers: gross margin. Gross margin of 29.7% ranks 23 of 26 apparel retail companies we cover (median 40.5%).

Latest results: FY2027 Q2

Filed September 1, 2026
Earnings per share
$2.66 against an average estimate of $1.95: beat by 36.7%
Revenue
$6.26bn, up 13.3% on a year earlier
Share reaction
+1.9% in the first session after the results on August 20, 2026, against -0.4% for the S&P 500
Guidance given
comparable store sales growth 6% to 7% (third quarter); comparable store sales growth 4% to 5% (fourth quarter)
Next report
November 19, 2026; average EPS estimate $1.84

Ross Stores' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.0%
  • 1 week-1.5%
  • 1 month+0.9%
  • This year+28.8%
  • 1 year+46.3%
  • 5 years+107.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$24.5B
Operating margin
13.7%
Net margin
10.8%
EPS (TTM, diluted)
$8.27

Growth

Revenue growth
+14.0%
Change in growth rate
+2.2 pts
Share count change
−1.8%

Cash

Free cash flow (TTM)
$2.8B
FCF margin
11.4%
Stock pay % of revenue
0.8%

Earnings

Last results
August 20, 2026
Next results (est.)
November 19, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Insider trade
  3. Insider trade
  4. Results
  5. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Ross Stores valuation models and calculator

What the price is pricing in

The share price implies about 14.9% a year of cash-flow growth for five years.That is faster than the 5.3% a year revenue growth Ross Stores has delivered.

  • Priced in14.9%
  • Last 12 months14.0%
  • 3 years a year8.5%
  • 5 years a year5.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($228.88, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$180
Price used
$228.88close November 3, 2026
Implied change
▼ 20%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Ross Stores's free cash flow after stock-based pay with after-tax interest added back ($2B, FY2027 Q2 TTM), growing 9.4% and 9.8% in the next two years (forecasts, guidance and its record), then back to 11.2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$140–~$240 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Ross Stores's free cash flow after stock-based pay ( $2B, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Ross Stores as an operating company, with every model that fits that kind of business. Cost of equity 9.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.95 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$180 ~$140–$240 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$120 ~$93–$160 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$140 ~$100–$190 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$120 ~$110–$150 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$150 ~$120–$180 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Ross Stores with Apparel Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −8%
  • Last year's free-cash-flow margin change, if it persists ▲ +44%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $102$135$179$236$311$408
8.5% $81$105$136$177$231$299
10% $68$86$110$142$183$235

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$50.69$59.39$72.60$85.11$105.14$104.62$90.91$114.95$139.87$148.01$187.52$230.59
Market value$20.6bn$23.5bn$27.9bn$31.7bn$38.0bn$37.1bn$32.2bn$39.7bn$47.2bn$49.0bn$60.8bn$74.2bn
+ Net debt (− = net cash)−$762m−$1.1bn−$1.3bn−$1.4bn−$1.4bn−$4.8bn−$4.9bn−$4.6bn−$4.9bn−$4.7bn−$4.6bn−$3.3bn
Enterprise value$19.8bn$22.3bn$26.6bn$30.3bn$36.6bn$32.3bn$27.2bn$35.1bn$42.3bn$44.3bn$56.2bn$70.9bn
Multiples
Price / sales 1.7x1.8x2.0x2.1x2.4x3.0x1.7x2.1x2.3x2.3x2.7x3.0x
Price / earnings 20.2x21.0x20.5x20.0x22.9xn/m18.7x26.2x25.2x23.4x28.4x27.9x
Price / free cash flow 21.5x18.6x21.3x19.2x23.5x20.2x27.2x38.3x26.9x29.9x27.6x26.6x
EV / EBITDA ———————14.7x15.5x14.6x17.5x18.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

67 /100

Moderate moat

How hard Ross Stores's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 18.4% of total assets over 9 years.

  • Pricing power 10 / 20

    Gross margin has been a median 27.8%, moving by 2.1 percentage points (standard deviation) across 9 years.

  • Durability 8 / 20

    Net margin has been a median 9.2%; its worst year was 4.2%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 9 of 10 years, at a median 9.9% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 9.5% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (72 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 19, 2026. Analysts expect revenue of $6.2bn and EPS of $1.84 (range $1.80 to $1.89) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $8.78 +33% $25.7bn +13%
Next $8.97 +2% $27.5bn +7%

Next year's EPS estimate has moved +4.4% in 90 days, across 11 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +12.5% on 90 days ago. In the last 30 days, 1 analyst raised Ross Stores's forecast and 1 cut it.

Consensus EPS forecast Ross Stores, last 90 days
$7.50 $8.00 $8.50 $9.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $7.81 Current fiscal year, 60 days ago: $8.55 Current fiscal year, 30 days ago: $8.67 Current fiscal year, 7 days ago: $8.76 Current fiscal year, Now: $8.78 $8.78 Next fiscal year, 90 days ago: $8.59 Next fiscal year, 60 days ago: $8.87 Next fiscal year, 30 days ago: $8.91 Next fiscal year, 7 days ago: $8.91 Next fiscal year, Now: $8.97 $8.97

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $7.81$8.59
60 days ago $8.55$8.87
30 days ago $8.67$8.91
7 days ago $8.76$8.91
Now $8.78$8.97

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $1.95 $2.66 +36.7%
Apr 2026 $1.72 $2.02 +17.4%
Jan 2026 $1.91 $2.00 +4.9%
Oct 2025 $1.42 $1.58 +10.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 20, 2026
  • earnings per share 2026 fiscal year $8.61 to $8.77 Raised
    “Based on our strong first half results and our updated second half guidance, we are increasing our 2026 fiscal year earnings per share projections to be in the range of $8.61 to $8.77, which again includes an approximate $0.60 earnings per share benefit from IEEPA tariff refunds recognized in the second quarter.” source
  • earnings per share third quarter $1.75 to $1.83 Raised
    “If the second half of 2026 performs in line with these sales projections, our earnings per share ranges for the third and fourth quarters are projected to be $1.75 to $1.83 and $2.17 to $2.26, respectively.” source
  • earnings per share fourth quarter $2.17 to $2.26 Raised
    “If the second half of 2026 performs in line with these sales projections, our earnings per share ranges for the third and fourth quarters are projected to be $1.75 to $1.83 and $2.17 to $2.26, respectively.” source
  • comparable store sales third quarter 6% growth to 7% growth Raised
    “Comparable store sales are now expected to increase 6% to 7% in the third quarter and 4% to 5% in the fourth quarter.” source
  • comparable store sales fourth quarter 4% growth to 5% growth Raised
    “Comparable store sales are now expected to increase 6% to 7% in the third quarter and 4% to 5% in the fourth quarter.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Ross Stores's revenue by +9.4% next year and +9.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.6%, weight 68%) and the company's own record (+11.2%, weight 32%) . How the weights are set.

Analyst recommendations

20 analysts, Oct 2026
Buy1575%
Hold420%
Sell15%

Monthly trend

  1. Oct 2026213420
  2. Sep 2026212520
  3. Aug 2026212520
  4. Jul 2026212419

Counts of recommendations published by analysts covering Ross Stores, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.6%
of tradable shares
Days to cover
4.68
at average volume
Short interest, 1 month
+3%
to October 15, 2026
Held by institutions
95%
of shares
Held by insiders
2.1%
of shares
Employees
111,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +46.3%

$157.61 on October 31, 2025 to $230.59

ThenNowEffect
Revenue (last 12 months) $21.5bn $24.5bn +14.0%
Net margin 9.6% 10.8% +13.1%
P/E multiple 25.0x 27.9x +11.4%
Share count 328m 322m +1.9%

Biggest factor: revenue.

Last 3 years +95.9%

$117.73 on November 3, 2023 to $230.59

ThenNowEffect
Revenue (last 12 months) $19.2bn $24.5bn +27.6%
Net margin 8.4% 10.8% +29.7%
P/E multiple 25.0x 27.9x +11.6%
Share count 341m 322m +6.0%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ROST−6%+3%+21%+10%+20%+29%
Industry peers (median)+70%−43%+5%+10%+6%−8%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ROST42%42%67%58%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ROST−21%−38%−17%−15%−20%−13%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 51% from February 20, 2020 to March 18, 2020. Getting back needed a 106% gain, reached on February 24, 2021, 343 days after the low.

Price behaviour

52-week range
$158.09 – $254.74
From 52-week high
−9.5%
vs 50-day average
−0.1%
vs 200-day average
+3.9%
Volatility (1 year)
26%
Beta vs S&P 500
0.53

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
10 up, 2 down
typical move ±4.5%
After a week
7 up, 5 down
typical move ±5.5%
After a month
6 up, 6 down
typical move ±7.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 20, 2026 +1.9% −0.4% −2.1% −1.3%
May 21, 2026 +7.8% +0.6% +6.4% +5.4%
March 3, 2026 +5.5% −0.2% +5.3% +9.0%
November 20, 2025 +8.4% −0.5% +9.9% +12.9%
August 21, 2025 +0.6% +1.1% +1.8% −0.9%
May 22, 2025 −10.1% −0.6% −8.2% −15.7%
March 4, 2025 +1.3% −0.1% −6.0% −2.9%
November 21, 2024 +4.9% +0.8% +11.2% +7.0%
August 22, 2024 +0.8% +0.3% −1.4% −2.3%
May 23, 2024 +8.1% −0.1% +6.3% +13.2%
March 5, 2024 −1.2% −0.5% −2.3% −6.6%
November 16, 2023 +3.9% +0.2% +5.7% +9.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Ross Stores’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.56× the last 60 days’ realised volatility .
  • Calls are priced 4 points richer than puts (25-delta): demand for upside is high, which favours selling calls over puts.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

ROST Ross Stores Grade B+ $230.25

Own 100 shares, sell the $240 call expiring December 18, 2026 (46 days) for $7.40 a share — $740 per contract.

Previous session · Bid $7.40, ask $9.40, quoted Mon 2 Nov, 17:35 New York time with ROST at $230.25. Option prices move with the shares: check the live chain at your broker before trading.

  • If ROST ends below $240: you keep your shares and the $740 — 3.2% extra on the position, 25.5% a year at that pace.
  • If it ends above $240: your shares are sold at $240, a total return of 7.4% including the premium — at or above our value of ~$180.
$1.7k $0 −$4.5k Our value $180 Break-even $222.85 Price $230.25
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$740
Annualised
25.5%
Break-even
$222.85
Max gain
$1,715
Chance of selling
~43%

Results are expected around November 19, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Own the shares, buy the $210 put and sell the $240 call, both expiring December 18, 2026 (46 days).

  • Net credit of $3.50 a share ($350 per contract of 100 shares).
  • Worst case at expiry: -7.3%, if the shares fall below $210 (-8.8% from today).
  • Best case at expiry: +5.8%, if the shares rise above $240 (+4.2%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $180: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Ross Stores in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Ross Stores
$18B $20B $22B $24B $26B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $19.6B Revenue (TTM), FY24 Q4: $20.4B Revenue (TTM), FY25 Q1: $20.7B Revenue (TTM), FY25 Q2: $21.1B Revenue (TTM), FY25 Q3: $21.2B Revenue (TTM), FY25 Q4: $21.1B Revenue (TTM), FY26 Q1: $21.3B Revenue (TTM), FY26 Q2: $21.5B Revenue (TTM), FY26 Q3: $22B Revenue (TTM), FY26 Q4: $22.8B Revenue (TTM), FY27 Q1: $23.8B Revenue (TTM), FY27 Q2: $24.5B $24.5B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $19.6B
FY24 Q4 $20.4B
FY25 Q1 $20.7B
FY25 Q2 $21.1B
FY25 Q3 $21.2B
FY25 Q4 $21.1B
FY26 Q1 $21.3B
FY26 Q2 $21.5B
FY26 Q3 $22B
FY26 Q4 $22.8B
FY27 Q1 $23.8B
FY27 Q2 $24.5B
Revenue growth, TTM YoY Ross Stores
0% 5% 10% 15% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: 5.8% Revenue growth, TTM YoY, FY24 Q4: 9.0% Revenue growth, TTM YoY, FY25 Q1: 10.0% Revenue growth, TTM YoY, FY25 Q2: 9.8% Revenue growth, TTM YoY, FY25 Q3: 8.5% Revenue growth, TTM YoY, FY25 Q4: 3.7% Revenue growth, TTM YoY, FY26 Q1: 2.5% Revenue growth, TTM YoY, FY26 Q2: 1.9% Revenue growth, TTM YoY, FY26 Q3: 3.7% Revenue growth, TTM YoY, FY26 Q4: 7.7% Revenue growth, TTM YoY, FY27 Q1: 11.9% Revenue growth, TTM YoY, FY27 Q2: 14.0% 14.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 5.8%
FY24 Q4 9.0%
FY25 Q1 10.0%
FY25 Q2 9.8%
FY25 Q3 8.5%
FY25 Q4 3.7%
FY26 Q1 2.5%
FY26 Q2 1.9%
FY26 Q3 3.7%
FY26 Q4 7.7%
FY27 Q1 11.9%
FY27 Q2 14.0%
Operating margin (TTM) Ross Stores
11.5% 12% 12.5% 13% 13.5% 14% FY25 Q4 FY26 Q2 FY26 Q4 FY27 Q2 Operating margin (TTM), FY25 Q4: 12.2% Operating margin (TTM), FY26 Q1: 12.2% Operating margin (TTM), FY26 Q2: 12.0% Operating margin (TTM), FY26 Q3: 11.9% Operating margin (TTM), FY26 Q4: 11.9% Operating margin (TTM), FY27 Q1: 12.2% Operating margin (TTM), FY27 Q2: 13.7% 13.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY25 Q4 12.2%
FY26 Q1 12.2%
FY26 Q2 12.0%
FY26 Q3 11.9%
FY26 Q4 11.9%
FY27 Q1 12.2%
FY27 Q2 13.7%
FCF margin (TTM) Ross Stores
7% 8% 9% 10% 11% 12% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 10.3% FCF margin (TTM), FY24 Q4: 8.6% FCF margin (TTM), FY25 Q1: 8.4% FCF margin (TTM), FY25 Q2: 7.7% FCF margin (TTM), FY25 Q3: 7.9% FCF margin (TTM), FY25 Q4: 7.7% FCF margin (TTM), FY26 Q1: 7.6% FCF margin (TTM), FY26 Q2: 7.8% FCF margin (TTM), FY26 Q3: 8.9% FCF margin (TTM), FY26 Q4: 9.7% FCF margin (TTM), FY27 Q1: 11.1% FCF margin (TTM), FY27 Q2: 11.4% 11.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 10.3%
FY24 Q4 8.6%
FY25 Q1 8.4%
FY25 Q2 7.7%
FY25 Q3 7.9%
FY25 Q4 7.7%
FY26 Q1 7.6%
FY26 Q2 7.8%
FY26 Q3 8.9%
FY26 Q4 9.7%
FY27 Q1 11.1%
FY27 Q2 11.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Ross Stores took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $22.8B
  2. Other income $135M · 0.6%
  3. Cost of revenue $16.4B · 72.3%
  4. Gross profit $6.3B · 27.7%
  5. Selling, general and admin $3.6B · 15.8%
  6. Operating income $2.7B · 11.9%
  7. Income tax $697M · 3.1%
  8. Net income $2.1B · 9.4%

Shares of revenue. Source: Ross Stores's 10-K for FY2026, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jan 2010 2011 Jan 2011 2012 Jan 2012 2013 Feb 2013 2014 Feb 2014 2015 Jan 2015 2016 Jan 2016 2017 Jan 2017 2018 Feb 2018 2019 Feb 2019 2020 Feb 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Feb 2024 2025 Feb 2025 2026 Jan 2026 LTM Aug 2026
Income
Revenue 7.2 7.9 8.6 9.7 10.2 11.0 11.9 12.9 14.1 15.0 16.0 12.5 18.9 18.7 20.4 21.1 22.8 24.5
Gross profit — — — — — — — 3.7 4.1 4.3 4.5 2.7 5.2 4.7 5.6 5.9 6.3 7.3
EBITDA — — — — — — — — — — — — — 2.4 2.7 3.0 3.2 3.9
Operating income — — — — — — — — — — — — — 2.0 2.3 2.6 2.7 3.4
Net income 0.4 0.6 0.7 0.8 0.8 0.9 1.0 1.1 1.4 1.6 1.7 0.1 1.7 1.5 1.9 2.1 2.1 2.7
Diluted EPS $0.89 $1.16 $1.43 $1.76 $1.94 $2.21 $2.51 $2.83 $3.55 $4.26 $4.60 $0.24 $4.87 $4.38 $5.56 $6.32 $6.61 $8.27
Growth (year on year)
Revenue +10.8% +9.5% +9.4% +12.9% +5.2% +7.9% +8.1% +7.8% +9.9% +6.0% +7.0% −21.9% +50.9% −1.2% +9.0% +3.7% +7.7% +14.0%
EBITDA — — — — — — — — — — — — — — +14.3% +11.2% +6.1% +28.1%
Operating income — — — — — — — — — — — — — — +15.9% +12.0% +4.7% +30.6%
Net income +45.0% +25.3% +18.5% +19.7% +6.4% +10.4% +10.4% +9.5% +21.9% +16.5% +4.6% −94.9% — −12.2% +24.0% +11.5% +2.6% +28.9%
Diluted EPS +51.9% +30.5% +23.8% +23.4% +9.9% +13.9% +13.6% +12.7% +25.4% +20.0% +8.0% −94.8% — −10.1% +26.9% +13.7% +4.6% +31.3%
Margins
Gross margin — — — — — — — 28.7% 29.0% 28.4% 28.1% 21.5% 27.5% 25.4% 27.4% 27.8% 27.7% 29.7%
EBITDA margin — — — — — — — — — — — — — 12.8% 13.4% 14.4% 14.1% 16.0%
Operating margin — — — — — — — — — — — — — 10.6% 11.3% 12.2% 11.9% 13.7%
Net margin 6.2% 7.1% 7.6% 8.1% 8.2% 8.4% 8.5% 8.7% 9.6% 10.6% 10.4% 0.7% 9.1% 8.1% 9.2% 9.9% 9.4% 10.8%
Free-cash-flow margin 10.2% 6.0% 4.7% 5.7% 4.6% 6.6% 8.0% 9.8% 9.3% 11.0% 10.1% 14.7% 6.2% 5.5% 8.6% 7.7% 9.7% 11.4%
Cash flow
Cash from operations 0.9 0.7 0.8 1.0 1.0 1.4 1.3 1.6 1.7 2.1 2.2 2.2 1.7 1.7 2.5 2.4 3.0 3.7
Capital spending 0.2 0.2 0.4 0.4 0.6 0.6 0.4 0.3 0.4 0.4 0.6 0.4 0.6 0.7 0.8 0.7 0.8 0.9
Free cash flow 0.7 0.5 0.4 0.6 0.5 0.7 1.0 1.3 1.3 1.7 1.6 1.8 1.2 1.0 1.8 1.6 2.2 2.8
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2
Free cash flow after stock pay 0.7 0.4 0.4 0.5 0.4 0.7 0.9 1.2 1.2 1.6 1.5 1.7 1.0 0.9 1.6 1.5 2.0 2.6
Balance sheet
Cash 0.8 0.8 0.6 0.6 0.4 0.7 0.8 1.1 1.3 1.4 1.4 4.8 4.9 4.6 4.9 4.7 4.6 4.3
Total debt — — — — — — — — — — — — — — — — — 1.0
Net debt (negative = net cash) −0.8 −0.8 −0.6 −0.6 −0.4 −0.7 −0.8 −1.1 −1.3 −1.4 −1.4 −4.8 −4.9 −4.6 −4.9 −4.7 −4.6 −3.3
Diluted shares 500m 480m 460m 446m 432m 418m 406m 395m 384m 373m 361m 355m 354m 345m 337m 331m 324m 322m
Returned to shareholders
Dividends 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.1 0.4 0.4 0.5 0.5 0.5 0.5
Buybacks 0.3 0.4 0.5 0.5 0.6 0.6 0.7 0.7 0.9 1.1 1.3 0.1 0.6 0.9 0.9 1.0 1.1 1.2
Total returned 0.4 0.5 0.6 0.6 0.7 0.7 0.9 0.9 1.1 1.4 1.6 0.2 1.1 1.4 1.4 1.5 1.6 1.7

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

6 of 6 checks passed · August 1, 2026
What it owns · $16.0bn
Short-term assets $7.9bnLonger-term assets $8.1bn
What it owes, and who funded it · $11.6bn
Short-term liabilities $4.9bnShareholders' equity $6.7bn
  • Short-term assets cover short-term liabilities $7.9bn of assets due within a year against $4.9bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $4.3bn of cash against $1.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 15% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 60% to 15% over five years.
  • A year's operating cash flow covers at least 20% of debt $3.7bn of operating cash flow against $1.0bn of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From Ross Stores's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$1.2B
Dividends (TTM)
$549M
Returned to shareholders
61%
of free cash flow
Buybacks, last 3 fiscal years
$3B
Diluted share count
−1.8%
year over year
Total shareholder yield
2.3%
dividends 0.7% + buybacks 1.6% of market value
Dividend payout ratio
21%
of net income paid out
Sales & admin spending
15.9%
of revenue

Competitors: side by side with peers

Closest by revenue in apparel retail
Last 12 months unless stated ROST GAP BURL TJX VSXY URBN Median
Revenue, last 12 months $24.5bn $15.3bn $12.2bn $62.4bn $6.9bn $6.5bn $1.1bn
Revenue growth, last 12 months 14.0% 1.1% 10.9% 7.7% 10.3% 11.0% 4.2%
Revenue growth, 3-year average 8.5% 0.5% 10.3% 6.8% 3.8% 9.4% 0.9%
Revenue growth, latest quarter 13.3% −2.0% 11.0% 5.4% 10.4% 10.4% 4.4%
Gross margin 29.7% 43.3% 44.6% 32.0% 39.6% 37.5% 40.1%
Operating margin 13.7% 11.0% — 12.2% 7.9% 11.3% 2.0%
Operating margin, 3-year average — 8.3% — 12.4% 5.6% 9.4% 0.2%
Net margin 10.8% 8.1% 5.8% 9.7% 5.5% 8.8% 1.5%
Cash from operations / revenue 14.9% 10.0% 11.6% 12.9% 11.0% 11.1% 4.9%
Free-cash-flow margin 11.4% 6.2% 3.4% 9.4% 8.0% 4.6% 2.9%
Free-cash-flow margin, 3-year average 9.0% 6.4% 1.4% 8.1% 5.0% 5.3% 1.7%
Stock pay / revenue 0.8% 1.1% 1.0% 0.4% 0.8% 0.5% 0.7%
Change in share count −1.8% −1.0% −0.4% −1.1% 4.0% −3.9% −0.3%

Median of all 28 companies we cover in apparel retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

28 apparel retail companies
Measure Company Peer median Rank
Revenue growth Growth 14.0% 4.7% 4 of 28
Change in growth rate Growth +2.2pp -0.2pp 4 of 28
Gross margin Profitability 29.7% 40.5% 23 of 26
Operating margin Profitability 13.7% 1.9% 3 of 25
Net margin Profitability 10.8% 1.7% 3 of 28
Free-cash-flow margin Cash generation 11.4% 3.0% 2 of 28
Stock pay as % of revenue Cash generation 0.8% 0.7% 17 of 26
Long-term debt as % of assets Balance sheet 4.9% 11.6% 4 of 13
Change in share count Balance sheet -1.8% -0.3% 6 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$63.9B
Institutions reporting
1,412
Shares held vs prior quarter
▲ 2.3%
Positions opened / closed
158 / 98

Top buyers and sellers, Q2 2026: 744 institutions bought and 534 sold ; the biggest buyer was Wellington Management Group LLP (+3.1M shares) and the biggest seller D. E. Shaw & Co., Inc (−2.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $5.9B 27.9M 9.3% ▲ 12.2%
Vanguard Capital Management LLC $4.5B 21.0M 7.0% ▲ 0.1%
State Street Corp $3.1B 14.6M 4.9% ▲ 5.3%
Vanguard Portfolio Management LLC $3.1B 14.5M 4.8% ▲ 2.4%
Invesco Ltd. $2.6B 12.3M 4.1% ▲ 1.5%
FMR LLC $2.3B 11.0M 3.7% ▲ 19.9%
Bank Of America Corp $2B 9.5M 3.2% ▲ 1.0%
Primecap Management Co $1.9B 9.1M 3.0% ▼ 0.7%
Jpmorgan Chase & Co $1.8B 8.7M 2.8% ▼ 12.0%
Geode Capital Management, LLC $1.7B 7.9M 2.6% ▼ 12.8%
Wellington Management Group LLP $1.4B 6.6M 2.2% ▲ 89.2%
Price T Rowe Associates Inc $1.3B 6.0M 2.0% ▼ 7.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ross Stores's complete shareholder register. Values are as reported by the filers ; 6 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $23M 10 trades by 7 insiders · 20% under pre-set plans
Net ▼ $23M net selling
Insider Date Trade Shares Price Value
Brinkley Stephen C PRESIDENT, OPERATIONS September 14, 2026 Sell 6,424 $229.66 $1.5M
Conroy James Grant CHIEF EXECUTIVE OFFICER September 14, 2026 Sell 49,205 $229.48 $11.3M
Sheehan William W Ii EVP, CHIEF FINANCIAL OFFICER March 26, 2026 Sell 4,883 $216.95 $1.1M
Hartshorn Michael J. GROUP PRESIDENT, COO March 25, 2026 Sell pre-set plan 15,813 $214.91 $3.4M
Sykes Karen PRESIDENT, CMO DD'S DISCOUNTS March 25, 2026 Sell 5,506 $213.40 $1.2M
Hartshorn Michael J. GROUP PRESIDENT, COO March 24, 2026 Sell pre-set plan 6,061 $214.52 $1.3M
Fleming Karen PRES, CMO ROSS DRESS FOR LESS March 24, 2026 Sell 7,000 $212.75 $1.5M
Brinkley Stephen C PRESIDENT, OPERATIONS March 24, 2026 Sell 4,154 $212.91 $884,429
Sykes Karen PRESIDENT, CMO DD'S DISCOUNTS March 10, 2026 Sell 2,556 $213.91 $546,755
Mueller Patricia H Director March 10, 2026 Sell 1,881 $213.13 $400,898

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 23 trades and filings

No trades in Ross Stores disclosed in the last 12 months; 23 earlier trades on record.

  • Val T. Hoyle(D-OR 4):Sale (full), $1,001 - $15,000, traded September 23, 2025, filed October 10, 2025
  • Dan Newhouse(R-WA 4):Purchase, $1,001 - $15,000, traded August 18, 2025, filed September 17, 2025
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded June 24, 2025, filed August 13, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 19, 2026 estimated from the company's past filing pattern, not announced

  • August 20, 2026
  • May 21, 2026
  • March 3, 2026
  • November 20, 2025
  • August 21, 2025
  • May 22, 2025

Recent SEC filings

Data status

When each part of this page on Ross Stores was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Ross Stores in brief

What does Ross Stores do?
Ross Stores is a US-listed company in the apparel retail industry. Its financial year ends in January.
What is Ross Stores's stock ticker?
Ross Stores trades under the ticker ROST on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Ross Stores's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Ross Stores reported revenue of $24.5B, 14.0% higher than a year earlier, according to its SEC filings.
What is Ross Stores's free cash flow?
Ross Stores's free-cash-flow margin is 11.4% of revenue over the trailing twelve months, ranking 2 of the 28 apparel retail companies we cover.
What is Ross Stores's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Ross Stores's free cash flow after stock-based pay gives ~$180 per share in the base case, and ~$140–$240 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Ross Stores's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Ross Stores buying back stock, and does it pay a dividend?
Ross Stores spent $1.2B on share repurchases over the trailing twelve months, and its diluted share count fell 1.8% over the year.
What is Ross Stores's market cap?
On November 2, 2026, Ross Stores's market capitalisation was about $74.2B, with a price-to-earnings ratio of 27.9 and net debt of -$3.3B. Market figures come from third-party market data and may be delayed.
Does Ross Stores pay a dividend?
Yes: Ross Stores paid $549M in dividends over the trailing twelve months, a dividend yield of 0.74% and a payout ratio of 20.6%.
How much debt does Ross Stores have?
Ross Stores's debt-to-equity ratio is 15.1%, from its latest balance sheet (60.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Ross Stores's competitors?
In our Apparel Retail peer group, the companies closest to Ross Stores are GAP Inc, Burlington Stores, Inc., TJX Companies, Victoria's Secret & Co. and Urban Outfitters Inc. The side-by-side comparison below sets their revenue, margins and growth against Ross Stores's.
Are insiders buying or selling Ross Stores stock?
Over the last 12 months, Ross Stores's directors and officers reported 0 open-market purchases and 10 sales on Form 4. The insider trading page charts every trade.
When is Ross Stores's next earnings date?
Around November 19, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Ross Stores announces its own schedule.