Name: Ross Stores Inc. (NASDAQ:ROST) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart

Ross Stores Inc., consolidated balance sheet: assets

US$ in thousands

	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
Cash and cash equivalents	4,922,365)	4,819,293)	1,351,205)	1,412,912)	1,290,294)	1,111,599)
Short-term investments	—)	—)	—)	—)	512)	—)
Accounts receivable	119,247)	115,067)	102,236)	96,711)	87,868)	75,154)
Merchandise inventory	2,262,273)	1,508,982)	1,832,339)	1,750,442)	1,641,735)	1,512,886)
Prepaid expenses and other	169,291)	249,149)	147,048)	143,954)	130,748)	113,410)
Current assets	7,473,176)	6,692,491)	3,432,828)	3,404,019)	3,151,157)	2,813,049)
Property and equipment, net	2,898,527)	2,710,496)	2,653,436)	2,475,201)	2,382,464)	2,328,048)
Operating lease assets	3,027,272)	3,084,819)	3,053,782)	—)	—)	—)
Deferred compensation	163,891)	159,116)	141,443)	124,558)	120,613)	100,423)
Restricted cash and cash equivalents	48,614)	48,765)	49,970)	53,765)	53,969)	54,567)
Other	28,776)	22,180)	16,908)	16,148)	13,848)	13,264)
Other long-term assets	241,281)	230,061)	208,321)	194,471)	188,430)	168,254)
Long-term assets	6,167,080)	6,025,376)	5,915,539)	2,669,672)	2,570,894)	2,496,302)
Total assets	13,640,256)	12,717,867)	9,348,367)	6,073,691)	5,722,051)	5,309,351)

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).

Total assets exhibited substantial growth over the six-year period, increasing from 5.31 billion US dollars in 2017 to 13.64 billion US dollars by 2022. This expansion was characterized by two distinct drivers: a significant increase in liquidity and a structural shift in the reporting of long-term assets.

Liquidity and Current Assets: Current assets grew from 2.81 billion US dollars in 2017 to 7.47 billion US dollars in 2022. The most prominent driver was the surge in cash and cash equivalents, which remained relatively stable between 1.11 billion and 1.41 billion US dollars from 2017 to 2020, before increasing sharply to 4.82 billion US dollars in 2021 and reaching 4.92 billion US dollars in 2022. This indicates a significant accumulation of liquid reserves during the 2021 fiscal year.
Inventory Management: Merchandise inventory showed a general upward trend from 1.51 billion US dollars in 2017 to 1.83 billion US dollars in 2020. A notable contraction occurred in 2021, where inventory decreased to 1.51 billion US dollars, followed by a sharp increase to 2.26 billion US dollars in 2022. This volatility suggests shifts in inventory procurement or supply chain dynamics during the 2021-2022 period.
Long-term Asset Structure: Long-term assets increased from 2.50 billion US dollars in 2017 to 6.17 billion US dollars in 2022. A significant structural change occurred in 2020 with the introduction of operating lease assets valued at 3.05 billion US dollars, which remained relatively constant through 2022. Property and equipment, net, demonstrated consistent growth, rising from 2.33 billion US dollars in 2017 to 2.90 billion US dollars in 2022, reflecting ongoing capital investment in physical infrastructure.
Other Asset Trends: Accounts receivable and deferred compensation both exhibited steady, incremental growth throughout the period. Accounts receivable rose from 75.15 million US dollars in 2017 to 119.25 million US dollars in 2022, while deferred compensation increased from 100.42 million US dollars to 163.89 million US dollars over the same timeframe.

The overall asset profile transitioned from a balanced distribution between current and long-term assets in 2017 to a more liquidity-heavy position by 2022. The combined impact of the 2020 accounting treatment for operating leases and the 2021 cash surge fundamentally altered the balance sheet composition, resulting in a more than twofold increase in total asset value.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?