Stock Analysis on Net
AI Tokens
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: Liabilities and Stockholders’ Equity

Ross Stores Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Accounts payable 17.39 17.75 13.87 19.38 18.52 19.24
Accrued expenses and other 4.49 4.66 4.94 7.11 7.54 7.50
Current operating lease liabilities 4.62 4.70 6.04 0.00 0.00 0.00
Accrued payroll and benefits 4.32 3.15 3.90 5.98 6.11 5.96
Income taxes payable 0.08 0.43 0.15 0.62 0.00 0.30
Current portion of long-term debt 0.00 0.51 0.00 0.00 1.49 0.00
Current liabilities 30.90% 31.19% 28.90% 33.09% 33.67% 33.01%
Long-term debt, excluding current portion 17.98 19.25 3.35 5.14 5.45 7.47
Non-current operating lease liabilities 18.62 20.61 27.92 0.00 0.00 0.00
Income taxes 0.48 0.52 0.71 1.28 2.11 1.84
Deferred compensation 1.20 1.25 1.51 2.05 2.11 1.89
Deferred social security taxes 0.00 0.29 0.00 0.00 0.00 0.00
Deferred rent 0.00 0.00 0.00 1.34 1.28 1.28
Tenant improvement allowances 0.00 0.00 0.00 0.42 0.38 0.39
Other 0.05 0.06 0.07 0.20 0.22 0.09
Other long-term liabilities 1.73% 2.11% 2.29% 5.30% 6.09% 5.48%
Deferred income taxes 1.01 0.96 1.60 2.05 1.50 2.29
Long-term liabilities 39.33% 42.93% 35.16% 12.49% 13.04% 15.23%
Total liabilities 70.23% 74.13% 64.07% 45.57% 46.71% 48.24%
Common stock, par value $0.01 per share 0.03 0.03 0.04 0.06 0.07 0.07
Additional paid-in capital 12.59 12.42 15.60 22.65 22.59 22.90
Treasury stock -3.93 -3.76 -4.64 -6.14 -5.56 -5.14
Accumulated other comprehensive income 0.00 0.00 0.00 0.00 0.00 0.00
Retained earnings 21.08 17.19 24.93 37.85 36.20 33.92
Stockholders’ equity 29.77% 25.87% 35.93% 54.43% 53.29% 51.76%
Total liabilities and stockholders’ equity 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).

A significant structural shift in the capital composition is evident over the analyzed six-year period. Between 2017 and 2019, the balance sheet maintained a relatively stable distribution, with stockholders' equity consistently representing over 50% of total liabilities and stockholders' equity. However, beginning in 2020, there is a pronounced transition toward a liability-heavy structure, with total liabilities peaking at 74.13% in 2021 before moderating slightly to 70.23% in 2022.

Long-Term Liability Trends
The most substantial change occurs within long-term liabilities, which rose from 12.49% in 2019 to a peak of 42.93% in 2021. This increase is primarily driven by the emergence of operating lease liabilities starting in 2020, with non-current operating lease liabilities reaching 27.92% in 2020. Additionally, a sharp increase in long-term debt is observed in 2021, jumping to 19.25% from 3.35% in the prior year, indicating a significant increase in long-term borrowing.
Current Liability Composition
Current liabilities remained relatively stable as a percentage of the total balance sheet, fluctuating between 28.90% and 33.67%. Accounts payable consistently represent the largest component of current liabilities, maintaining a range between 13.87% and 19.38%. Accrued expenses and payroll benefits showed a gradual downward trend in their proportional share of the balance sheet from 2017 through 2022.
Stockholders' Equity Erosion
There is a marked decline in the proportion of stockholders' equity, which fell from a high of 54.43% in 2019 to a low of 25.87% in 2021. This contraction is attributed to a significant decrease in retained earnings, which dropped from 37.85% in 2019 to 17.19% in 2021, although a partial recovery to 21.08% occurred by 2022. Similarly, additional paid-in capital saw a steady decline from 22.90% in 2017 to 12.59% in 2022.
Treasury Stock and Other Items
Treasury stock consistently maintained a negative balance, peaking at -6.14% in 2019 before trending toward -3.93% by 2022. Other long-term liabilities and deferred income taxes both experienced a general downward trend in their relative weight on the balance sheet over the six-year duration.

Overall, the data indicates a transition from a predominantly equity-funded position to one characterized by higher leverage. This shift was catalyzed by the recognition of lease liabilities in 2020 and a strategic increase in long-term debt in 2021, coinciding with a proportional reduction in retained earnings and paid-in capital.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?