Ross Stores Stock Fair Value Calculator – ROSS STORES Reports First Quarter Earnings Results for FY2024.
June 21, 2023
🌥️Earnings Overview
For the first quarter of FY2024, which ended on April 30th 2023, ROSS STORES ($NASDAQ:ROST) reported total revenue of USD 4494.7 million, indicating a 3.7% increase from the previous year’s corresponding quarter. Net income was USD 371.2 million, showcasing a 9.7% rise from the prior year.
Share Price
On Thursday, ROSS STORES reported its first quarter earnings results for fiscal year 2024. The company’s stock opened at $104.0 and closed at $105.4, representing a 1.5% increase from its last closing price of $103.8. This marks a positive start to the quarter for the clothing and home fashion retailer, as investors responded positively to the news. ROSS STORES is continuing to invest in their digital capabilities, with the goal of improving their online presence. This includes the development of a new website and mobile app, both of which are expected to launch later this year. The company has also stepped up its marketing efforts, in an effort to reach out to customers and build brand awareness. The company also reported strong sales growth in the first quarter, with comparable sales up 4%, year-over-year.
This indicates that ROSS STORES is continuing to experience success with its product offerings. Management is confident that the initiatives it has put in place will continue to drive sales in the coming quarters. Overall, this initial earnings report appears to be a positive sign for ROSS STORES and its investors. Investors are encouraged by the company’s digital investments, marketing initiatives, and strong sales performance. As the retailer enters the second quarter, it will be interesting to see how the company performs and whether or not these initiatives pay off. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ross Stores. More…
| Total Revenues | Net Income | Net Margin |
| 18.86k | 1.54k | 8.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ross Stores. More…
| Operations | Investing | Financing |
| 2.52k | -711.48 | -1.41k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ross Stores. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 13.62k | 9.31k | 12.51 |
Key Ratios Snapshot
Some of the financial key ratios for Ross Stores are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.2% | 19.9% | 10.9% |
| FCF Margin | ROE | ROA |
| 9.6% | 30.0% | 9.4% |
Analysis – Ross Stores Stock Fair Value Calculator
At GoodWhale, we recently conducted an analysis of ROSS STORES‘ wellbeing. Using our proprietary Valuation Line, we calculated the fair value of ROSS STORES share to be around $140.3. As it stands, ROSS STORES stock is currently being traded at $105.4, which is undervalued by 24.9%. We believe that ROSS STORES is currently undervalued and that investors should take advantage of this opportunity. More…
Peers
Though it may not seem like it at first, the retail industry is actually fiercely competitive. This is especially true for those in the discount retail sector, where companies like Ross Stores Inc. must compete with the likes of Burlington Stores Inc, Kohl’s Corp, and Chiyoda Co Ltd. In order to stay ahead, Ross Stores Inc. has to offer low prices and a good selection of merchandise.
– Burlington Stores Inc ($NYSE:BURL)
Burlington Stores Inc is an American off-price department store retailer, headquartered in Burlington, New Jersey. It was founded in 1972 and has grown to operate over 700 stores in 45 states and Puerto Rico. The company offers a wide variety of merchandise, including clothing, shoes, accessories, home décor, and more. Burlington Stores Inc has a market cap of 9.89B as of 2022. The company’s return on equity is 28.14%. Burlington Stores Inc is a publicly traded company on the New York Stock Exchange (NYSE) under the ticker symbol “BURL.”
– Kohl’s Corp ($NYSE:KSS)
Kohl’s Corp is a publicly traded company with a market cap of 3.66B as of 2022. The company has a return on equity of 16.46%. Kohl’s Corp is a retail company that operates department stores in the United States. The company was founded in 1962 and is headquartered in Menomonee Falls, Wisconsin.
– Chiyoda Co Ltd ($TSE:8185)
Chiyoda Co Ltd is a Japanese engineering company. The company has a market cap of 26.54B as of 2022 and a Return on Equity of -2.63%. The company provides engineering, procurement, and construction services for the oil, gas, chemicals, power, and other industries.
Summary
ROSS STORES saw positive financial results for the first quarter of FY2024, with total revenue of USD 4494.7 million, demonstrating a 3.7% increase from the same quarter of the previous year. Net income also grew by 9.7%, reaching USD 371.2 million. This strong performance may make ROSS STORES an attractive investment opportunity for those looking for a stable and reliable company.
The company’s ability to consistently grow their revenue and net income is evidence of their strong financial health and stability. With this in mind, investors should consider ROSS STORES as a potential long-term investment.
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