Ross Stores Inc., current enterprise value calculation

Current share price (P)	$115.36
No. shares of common stock outstanding	344,371,009
US$ in thousands
Common equity (market value)¹	39,726,640)
Total equity	39,726,640)
Add: Current portion of long-term debt (per books)	—)
Add: Long-term debt, excluding current portion (per books)	2,452,325)
Total equity and debt	42,178,965)
Less: Cash and cash equivalents	4,922,365)
Less: Short-term investments	—)
Enterprise value (EV)	37,256,600)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 115.36 × 344,371,009

Ross Stores Inc., EV calculation

	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019	Feb 3, 2018	Jan 28, 2017
Share price^1, 2	$95.55	$120.38	$86.97	$93.76	$76.20	$65.77
No. shares of common stock outstanding¹	350,892,474	356,523,349	355,896,821	368,247,009	378,713,373	391,895,145
US$ in thousands
Common equity (market value)³	33,527,776)	42,918,281)	30,952,347)	34,526,840)	28,857,959)	25,774,944)
Total equity	33,527,776)	42,918,281)	30,952,347)	34,526,840)	28,857,959)	25,774,944)
Add: Current portion of long-term debt (book value)	—)	64,910)	—)	—)	84,973)	—)
Add: Long-term debt, excluding current portion (book value)	2,452,325)	2,448,175)	312,891)	312,440)	311,994)	396,493)
Total equity and debt	35,980,101)	45,431,366)	31,265,238)	34,839,280)	29,254,926)	26,171,437)
Less: Cash and cash equivalents	4,922,365)	4,819,293)	1,351,205)	1,412,912)	1,290,294)	1,111,599)
Less: Short-term investments	—)	—)	—)	—)	512)	—)
Enterprise value (EV)	31,057,736)	40,612,073)	29,914,033)	33,426,368)	27,964,120)	25,059,838)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Ross Stores Inc. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 95.55 × 350,892,474

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Ross Stores Inc. EV increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.

Ross Stores Inc. (NASDAQ:ROST)

Enterprise Value (EV)