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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
Quarterly Data

Ross Stores Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Oct 29, 2022 Jul 30, 2022 Apr 30, 2022 Jan 29, 2022 Oct 30, 2021 Jul 31, 2021 May 1, 2021 Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016
Cash and cash equivalents 29.82 29.62 30.34 36.09 37.80 40.82 40.06 37.89 35.13 33.50 24.88 14.45 12.14 15.10 15.10 23.26 21.64 23.26 21.64 22.55 19.84 20.87 22.41 20.94 16.43 17.86 17.79
Short-term investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.00 0.00 0.00 0.02 0.02 0.03
Accounts receivable 1.29 1.27 1.24 0.87 1.14 1.17 1.25 0.90 0.98 1.44 0.46 1.09 1.33 1.43 1.34 1.59 1.89 2.04 1.82 1.54 1.79 1.87 1.82 1.42 1.71 1.87 1.88
Merchandise inventory 19.04 20.61 20.20 16.59 16.03 12.84 12.68 11.87 12.97 9.87 16.38 19.60 23.03 20.06 20.04 28.82 31.74 28.48 31.48 28.69 31.91 29.17 28.72 28.49 32.97 30.04 29.30
Prepaid expenses and other 1.47 1.49 1.47 1.24 1.40 1.42 1.49 1.96 2.76 2.42 1.04 1.57 1.81 1.83 1.78 2.37 2.84 2.90 2.43 2.28 2.57 2.57 2.25 2.14 2.63 2.45 2.40
Current assets 51.61% 53.00% 53.26% 54.79% 56.37% 56.25% 55.48% 52.62% 51.84% 47.23% 42.77% 36.72% 38.30% 38.42% 38.27% 56.05% 58.11% 56.67% 57.37% 55.07% 56.11% 54.48% 55.19% 52.98% 53.75% 52.24% 51.41%
Land and buildings 11.39 11.28 11.20 9.09 8.58 8.72 8.86 9.33 9.43 10.40 10.98 12.59 12.46 12.70 12.48 18.54 17.93 18.74 18.44 19.38 19.29 20.07 19.86 20.74 20.47 21.01 21.31
Fixtures and equipment 29.63 28.52 26.81 25.12 24.13 24.15 24.21 25.50 25.47 27.71 29.13 33.32 32.20 31.54 31.43 45.82 43.61 44.61 43.54 45.50 44.02 45.04 44.31 45.61 44.08 44.61 44.52
Leasehold improvements 10.71 10.37 10.23 9.77 9.47 9.39 9.49 10.05 9.89 10.97 11.54 13.05 12.74 12.71 12.59 19.36 18.44 18.74 18.33 19.11 18.48 18.67 18.22 18.81 18.32 18.36 18.35
Construction-in-progress 1.31 1.20 1.93 4.21 3.64 3.62 3.35 2.96 2.97 3.21 2.63 2.03 1.55 2.19 1.64 2.82 2.35 2.39 1.93 1.78 1.60 1.73 1.15 1.31 1.30 1.35 1.25
Property and equipment, gross 53.04% 51.37% 50.16% 48.19% 45.83% 45.88% 45.91% 47.84% 47.76% 52.29% 54.28% 60.99% 58.95% 59.13% 58.14% 86.55% 82.33% 84.49% 82.24% 85.78% 83.38% 85.51% 83.55% 86.47% 84.17% 85.33% 85.44%
Accumulated depreciation and amortization -30.07 -29.14 -28.34 -26.94 -25.82 -25.75 -25.65 -26.53 -26.23 -28.39 -29.14 -32.61 -31.70 -31.76 -31.21 -45.80 -43.55 -44.51 -42.89 -44.14 -42.67 -43.31 -41.97 -42.63 -40.98 -40.85 -40.11
Property and equipment, net 22.97% 22.23% 21.82% 21.25% 20.01% 20.13% 20.26% 21.31% 21.53% 23.90% 25.14% 28.38% 27.25% 27.37% 26.92% 40.75% 38.78% 39.98% 39.35% 41.64% 40.72% 42.20% 41.58% 43.85% 43.19% 44.48% 45.33%
Operating lease assets 23.68 22.96 23.10 22.19 21.79 21.80 22.43 24.26 24.92 26.97 28.69 32.67 32.31 32.04 32.52 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other long-term assets 1.74 1.82 1.81 1.77 1.83 1.82 1.83 1.81 1.71 1.90 3.40 2.23 2.13 2.17 2.29 3.20 3.11 3.35 3.28 3.29 3.17 3.32 3.23 3.17 3.06 3.27 3.26
Long-term assets 48.39% 47.00% 46.74% 45.21% 43.63% 43.75% 44.52% 47.38% 48.16% 52.77% 57.23% 63.28% 61.70% 61.58% 61.73% 43.95% 41.89% 43.33% 42.63% 44.93% 43.89% 45.52% 44.81% 47.02% 46.25% 47.76% 48.59%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).

The asset composition exhibits significant structural shifts between 2016 and 2022, characterized by a transition in accounting standards, high volatility in liquidity, and a marked reallocation of inventory levels.

Liquidity and Cash Positioning
Cash and cash equivalents maintained a relatively stable range of 16% to 23% of total assets from April 2016 through February 2019. A subsequent decline saw this figure drop to 12.14% by November 2019. However, a substantial surge began in May 2020, with cash holdings peaking at 40.82% of total assets in May 2021. By October 2022, the proportion moderated to 29.82%, indicating a period of aggressive liquidity accumulation followed by a gradual normalization.
Inventory Management Dynamics
Merchandise inventory historically represented a significant portion of the asset base, fluctuating between 28% and 33% from 2016 to early 2019. A sharp contraction occurred starting in May 2019, reaching a historical low of 9.87% in August 2020. While a recovery trend is evident thereafter, with inventory rising to 19.04% by October 2022, the levels remain notably lower than the pre-2019 baseline.
Impact of Accounting Changes and Fixed Assets
A fundamental shift in the balance sheet structure is observed in May 2019 with the introduction of operating lease assets, which initially accounted for 32.52% of total assets. This coincided with a long-term downward trend in net property and equipment, which declined from 45.33% in April 2016 to 22.97% by October 2022. The gross property and equipment ratio also fell from 85.44% to 53.04% over the analyzed period, suggesting a relative decrease in tangible fixed asset intensity.
Current Asset Ratio Trends
Total current assets remained consistent between 51% and 58% through February 2019. A significant dip followed, with the ratio falling to 36.72% in February 2020, driven largely by the reduction in inventory. Current assets subsequently recovered to 51.61% by October 2022, a recovery primarily fueled by the increase in cash and cash equivalents rather than a full return of inventory to previous levels.

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