Total Asset Turnover
since 2005
Calculation
Ross Stores Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Jan 29, 2022 | 1.39 | = | 18,916,244) | ÷ | 13,640,256) |
| Jan 30, 2021 | 0.99 | = | 12,531,565) | ÷ | 12,717,867) |
| Feb 1, 2020 | 1.72 | = | 16,039,073) | ÷ | 9,348,367) |
| Feb 2, 2019 | 2.47 | = | 14,983,541) | ÷ | 6,073,691) |
| Feb 3, 2018 | 2.47 | = | 14,134,732) | ÷ | 5,722,051) |
| Jan 28, 2017 | 2.42 | = | 12,866,757) | ÷ | 5,309,351) |
| Jan 30, 2016 | 2.45 | = | 11,939,999) | ÷ | 4,869,119) |
| Jan 31, 2015 | 2.35 | = | 11,041,677) | ÷ | 4,703,134) |
| Feb 1, 2014 | 2.63 | = | 10,230,353) | ÷ | 3,896,797) |
| Feb 2, 2013 | 2.65 | = | 9,721,065) | ÷ | 3,670,561) |
| Jan 28, 2012 | 2.61 | = | 8,608,291) | ÷ | 3,301,209) |
| Jan 29, 2011 | 2.52 | = | 7,866,100) | ÷ | 3,116,204) |
| Jan 30, 2010 | 2.59 | = | 7,184,213) | ÷ | 2,768,633) |
| Jan 31, 2009 | 2.75 | = | 6,486,139) | ÷ | 2,355,511) |
| Feb 2, 2008 | 2.52 | = | 5,975,212) | ÷ | 2,371,322) |
| Feb 3, 2007 | 2.36 | = | 5,570,210) | ÷ | 2,358,591) |
| Jan 28, 2006 | 2.55 | = | 4,944,179) | ÷ | 1,938,738) |
| Jan 29, 2005 | 2.44 | = | 4,239,990) | ÷ | 1,735,999) |
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), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
1 US$ in thousands
The financial performance from 2005 to 2022 is characterized by a prolonged period of operational stability followed by a significant decline in asset utilization efficiency starting in 2020. While revenue and assets grew concurrently for over a decade, a decoupling occurred in the final three years of the period, leading to a marked reduction in the efficiency of the asset base.
- Revenue Trajectory
- Sales exhibited a consistent upward trend for the majority of the analyzed period, increasing from approximately $4.24 billion in 2005 to $16.04 billion in 2020. A notable contraction occurred in 2021, where sales fell to $12.53 billion, before recovering sharply to a peak of $18.92 billion in 2022.
- Asset Base Expansion
- Total assets grew steadily from $1.74 billion in 2005 to $6.07 billion in 2019. A rapid acceleration in asset accumulation is observed between 2020 and 2022, during which total assets more than doubled to reach $13.64 billion. This suggests a substantial expansion of the balance sheet that did not move in tandem with revenue growth during the 2020-2021 interval.
- Total Asset Turnover Performance
- From 2005 through 2019, the total asset turnover ratio remained stable, fluctuating within a narrow range between 2.35 and 2.75, indicating a highly consistent ability to generate sales from the asset base. This stability was disrupted in 2020, as the ratio dropped to 1.72, and further declined to a period low of 0.99 in 2021. While a recovery to 1.39 was recorded in 2022, the ratio remains significantly lower than the historical average established over the preceding 15 years, reflecting a decrease in overall asset productivity.
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Comparison to Competitors
Ross Stores Inc., total asset turnover, long-term trends, comparison to competitors
| Ross Stores Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|---|
| Jan 29, 2022 | 1.39 | 1.11 | 2.10 | 2.16 | 1.71 |
| Jan 30, 2021 | 0.99 | 1.12 | 1.87 | 1.92 | 1.04 |
| Feb 1, 2020 | 1.72 | 1.20 | 2.15 | 1.83 | 1.73 |
| Feb 2, 2019 | 2.47 | 1.25 | 2.46 | 2.07 | 2.72 |
| Feb 3, 2018 | 2.47 | 1.43 | 2.27 | 1.94 | 2.55 |
| Jan 28, 2017 | 2.42 | 1.35 | 2.20 | 1.89 | 2.58 |
| Jan 30, 2016 | 2.45 | 1.63 | 2.08 | 1.89 | 2.69 |
| Jan 31, 2015 | 2.35 | 1.64 | 2.08 | 1.77 | 2.61 |
| Feb 1, 2014 | 2.63 | 1.63 | 1.95 | 1.63 | 2.69 |
| Feb 2, 2013 | 2.65 | 1.85 | 1.82 | 1.55 | 2.72 |
| Jan 28, 2012 | 2.61 | 1.88 | 1.74 | 1.50 | 2.80 |
| Jan 29, 2011 | 2.52 | 1.90 | 1.69 | 1.45 | 2.75 |
| Jan 30, 2010 | 2.59 | 1.82 | 1.62 | 1.43 | 2.72 |
| Jan 31, 2009 | 2.75 | 1.77 | 1.73 | 1.48 | 3.08 |
| Feb 2, 2008 | 2.52 | 2.31 | 1.75 | 1.56 | 2.83 |
| Feb 3, 2007 | 2.36 | 2.29 | 1.74 | 1.69 | 2.86 |
| Jan 28, 2006 | 2.55 | 2.45 | 1.83 | 1.75 | 2.92 |
| Jan 29, 2005 | 2.44 | 2.30 | 1.88 | 1.72 | 2.94 |
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), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
Ross Stores Inc., total asset turnover, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Ross Stores Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Jan 29, 2022 | 1.39 | 1.33 |
| Jan 30, 2021 | 0.99 | 1.27 |
| Feb 1, 2020 | 1.72 | 1.40 |
| Feb 2, 2019 | 2.47 | 1.57 |
| Feb 3, 2018 | 2.47 | 1.71 |
| Jan 28, 2017 | 2.42 | 1.67 |
| Jan 30, 2016 | 2.45 | 1.86 |
| Jan 31, 2015 | 2.35 | 1.86 |
| Feb 1, 2014 | 2.63 | 1.80 |
| Feb 2, 2013 | 2.65 | 1.83 |
| Jan 28, 2012 | 2.61 | 1.78 |
| Jan 29, 2011 | 2.52 | 1.74 |
| Jan 30, 2010 | 2.59 | 1.68 |
| Jan 31, 2009 | 2.75 | 1.74 |
| Feb 2, 2008 | 2.52 | 1.81 |
| Feb 3, 2007 | 2.36 | 1.84 |
| Jan 28, 2006 | 2.55 | 1.92 |
| Jan 29, 2005 | 2.44 | 1.93 |
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), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Industry (Consumer Discretionary)
Ross Stores Inc., total asset turnover, long-term trends, comparison to industry (consumer discretionary)
| Ross Stores Inc. | Consumer Discretionary | |
|---|---|---|
| Jan 29, 2022 | 1.39 | 0.96 |
| Jan 30, 2021 | 0.99 | 0.88 |
| Feb 1, 2020 | 1.72 | 0.84 |
| Feb 2, 2019 | 2.47 | 0.94 |
| Feb 3, 2018 | 2.47 | 0.96 |
| Jan 28, 2017 | 2.42 | 0.93 |
| Jan 30, 2016 | 2.45 | 0.96 |
| Jan 31, 2015 | 2.35 | 0.98 |
| Feb 1, 2014 | 2.63 | 1.02 |
| Feb 2, 2013 | 2.65 | 1.04 |
| Jan 28, 2012 | 2.61 | 1.06 |
| Jan 29, 2011 | 2.52 | 1.08 |
| Jan 30, 2010 | 2.59 | 1.04 |
| Jan 31, 2009 | 2.75 | 0.94 |
| Feb 2, 2008 | 2.52 | 0.96 |
| Feb 3, 2007 | 2.36 | 0.88 |
| Jan 28, 2006 | 2.55 | 0.82 |
| Jan 29, 2005 | 2.44 | 0.85 |
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), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-02-03), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).