Stock Analysis on Net
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Stock Analysis on Net

Ross Stores Inc. (NASDAQ:ROST)

This company has been moved to the archive! The financial data has not been updated since December 7, 2022.

Common-Size Balance Sheet: Assets

Ross Stores Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Cash and cash equivalents 36.09 37.89 14.45 23.26 22.55 20.94
Short-term investments 0.00 0.00 0.00 0.00 0.01 0.00
Accounts receivable 0.87 0.90 1.09 1.59 1.54 1.42
Merchandise inventory 16.59 11.87 19.60 28.82 28.69 28.49
Prepaid expenses and other 1.24 1.96 1.57 2.37 2.28 2.14
Current assets 54.79% 52.62% 36.72% 56.05% 55.07% 52.98%
Property and equipment, net 21.25 21.31 28.38 40.75 41.64 43.85
Operating lease assets 22.19 24.26 32.67 0.00 0.00 0.00
Deferred compensation 1.20 1.25 1.51 2.05 2.11 1.89
Restricted cash and cash equivalents 0.36 0.38 0.53 0.89 0.94 1.03
Other 0.21 0.17 0.18 0.27 0.24 0.25
Other long-term assets 1.77% 1.81% 2.23% 3.20% 3.29% 3.17%
Long-term assets 45.21% 47.38% 63.28% 43.95% 44.93% 47.02%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

The asset composition of the balance sheet reflects a significant shift in liquidity and structural reporting between 2017 and 2022. A notable trend is the transition from a balance sheet dominated by physical property and equipment toward one with a higher concentration of liquid assets and lease-based assets.

Liquidity and Cash Management
Cash and cash equivalents exhibited significant volatility, remaining stable between 20.94% and 23.26% from 2017 to 2019 before dropping to 14.45% in 2020. A substantial increase followed, with cash reserves reaching 37.89% in 2021 and 36.09% in 2022, indicating a strategic move toward high liquidity in the latter part of the period.
Inventory Dynamics
Merchandise inventory represented a consistent portion of total assets at approximately 28% from 2017 to 2019. A sharp contraction occurred in 2020 and 2021, reaching a low of 11.87%, before partially recovering to 16.59% in 2022. This suggests a period of significant inventory reduction or a shift in asset valuation relative to the total base.
Fixed Asset and Lease Structural Shifts
Net property and equipment showed a steady downward trend, declining from 43.85% in 2017 to 21.25% in 2022. This decline coincided with the emergence of operating lease assets in 2020, which entered the balance sheet at 32.67% and moderated to 22.19% by 2022. This pattern indicates a structural reallocation of long-term assets, likely reflecting changes in accounting standards for leases.
Current Asset Stability
Total current assets remained relatively stable around 53% to 56% for most of the period, with a temporary dip to 36.72% in 2020. The recovery to 54.79% by 2022 was primarily driven by the surge in cash and cash equivalents, offsetting the decrease in merchandise inventory.
Other Asset Components
Accounts receivable, prepaid expenses, and deferred compensation maintained low and stable percentages throughout the period, with accounts receivable trending slightly downward from 1.42% to 0.87%, suggesting efficient management of short-term receivables.

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