Intrinsic value of Ross Stores - ROST

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$65.54

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$65.54

 
Intrinsic value

$72.68

 
Up/down potential

+11%

 
Rating

hold

 
Value-price divergence* premium content

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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of ROST stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 25.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.76
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
  6.59
  6.43
  6.29
  6.16
  6.05
  5.94
  5.85
  5.76
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.36
  5.33
  5.30
  5.27
  5.24
  5.22
  5.19
  5.17
  5.16
  5.14
Revenue, $m
  12,867
  13,896
  14,966
  16,078
  17,234
  18,435
  19,683
  20,981
  22,331
  23,736
  25,199
  26,722
  28,310
  29,965
  31,692
  33,494
  35,376
  37,341
  39,395
  41,542
  43,788
  46,137
  48,595
  51,169
  53,863
  56,685
  59,642
  62,739
  65,986
  69,389
  72,956
Variable operating expenses, $m
 
  11,214
  12,078
  12,975
  13,908
  14,877
  15,884
  16,932
  18,021
  19,155
  20,335
  21,565
  22,846
  24,182
  25,576
  27,030
  28,548
  30,135
  31,792
  33,525
  35,337
  37,233
  39,216
  41,293
  43,468
  45,745
  48,131
  50,631
  53,250
  55,997
  58,876
Fixed operating expenses, $m
 
  716
  734
  753
  772
  791
  811
  831
  852
  873
  895
  917
  940
  964
  988
  1,012
  1,038
  1,064
  1,090
  1,117
  1,145
  1,174
  1,203
  1,233
  1,264
  1,296
  1,328
  1,362
  1,396
  1,430
  1,466
Total operating expenses, $m
  11,064
  11,930
  12,812
  13,728
  14,680
  15,668
  16,695
  17,763
  18,873
  20,028
  21,230
  22,482
  23,786
  25,146
  26,564
  28,042
  29,586
  31,199
  32,882
  34,642
  36,482
  38,407
  40,419
  42,526
  44,732
  47,041
  49,459
  51,993
  54,646
  57,427
  60,342
Operating income, $m
  1,803
  1,966
  2,154
  2,350
  2,555
  2,767
  2,988
  3,218
  3,458
  3,708
  3,969
  4,240
  4,524
  4,820
  5,129
  5,452
  5,790
  6,143
  6,513
  6,900
  7,306
  7,730
  8,176
  8,642
  9,131
  9,644
  10,183
  10,747
  11,340
  11,962
  12,614
EBITDA, $m
  2,106
  2,294
  2,508
  2,730
  2,962
  3,203
  3,453
  3,714
  3,986
  4,269
  4,564
  4,872
  5,193
  5,528
  5,878
  6,244
  6,626
  7,026
  7,444
  7,882
  8,341
  8,821
  9,324
  9,852
  10,404
  10,984
  11,592
  12,230
  12,899
  13,602
  14,339
Interest expense (income), $m
  18
  18
  27
  37
  47
  57
  68
  79
  90
  103
  115
  128
  142
  156
  171
  186
  202
  219
  237
  255
  275
  295
  316
  338
  361
  385
  410
  437
  464
  493
  524
Earnings before tax, $m
  1,786
  1,948
  2,127
  2,314
  2,508
  2,710
  2,921
  3,140
  3,368
  3,606
  3,854
  4,112
  4,382
  4,664
  4,958
  5,266
  5,587
  5,924
  6,276
  6,645
  7,031
  7,436
  7,860
  8,304
  8,771
  9,260
  9,772
  10,311
  10,875
  11,468
  12,091
Tax expense, $m
  668
  526
  574
  625
  677
  732
  789
  848
  909
  974
  1,040
  1,110
  1,183
  1,259
  1,339
  1,422
  1,509
  1,599
  1,695
  1,794
  1,898
  2,008
  2,122
  2,242
  2,368
  2,500
  2,639
  2,784
  2,936
  3,096
  3,264
Net income, $m
  1,118
  1,422
  1,553
  1,689
  1,831
  1,978
  2,132
  2,292
  2,459
  2,632
  2,813
  3,002
  3,199
  3,405
  3,619
  3,844
  4,079
  4,325
  4,582
  4,851
  5,133
  5,428
  5,738
  6,062
  6,403
  6,759
  7,134
  7,527
  7,939
  8,372
  8,826

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,112
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,309
  4,532
  4,881
  5,244
  5,621
  6,013
  6,420
  6,843
  7,284
  7,742
  8,219
  8,716
  9,234
  9,773
  10,337
  10,924
  11,538
  12,179
  12,849
  13,549
  14,282
  15,048
  15,850
  16,689
  17,568
  18,488
  19,453
  20,463
  21,522
  22,632
  23,795
Adjusted assets (=assets-cash), $m
  4,197
  4,532
  4,881
  5,244
  5,621
  6,013
  6,420
  6,843
  7,284
  7,742
  8,219
  8,716
  9,234
  9,773
  10,337
  10,924
  11,538
  12,179
  12,849
  13,549
  14,282
  15,048
  15,850
  16,689
  17,568
  18,488
  19,453
  20,463
  21,522
  22,632
  23,795
Revenue / Adjusted assets
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
  3.066
Average production assets, $m
  2,336
  2,529
  2,724
  2,926
  3,137
  3,355
  3,582
  3,819
  4,064
  4,320
  4,586
  4,863
  5,152
  5,454
  5,768
  6,096
  6,438
  6,796
  7,170
  7,561
  7,969
  8,397
  8,844
  9,313
  9,803
  10,317
  10,855
  11,419
  12,009
  12,629
  13,278
Working capital, $m
  1,060
  -56
  -60
  -64
  -69
  -74
  -79
  -84
  -89
  -95
  -101
  -107
  -113
  -120
  -127
  -134
  -142
  -149
  -158
  -166
  -175
  -185
  -194
  -205
  -215
  -227
  -239
  -251
  -264
  -278
  -292
Total debt, $m
  396
  600
  813
  1,034
  1,264
  1,503
  1,751
  2,009
  2,278
  2,557
  2,848
  3,152
  3,467
  3,797
  4,140
  4,499
  4,873
  5,264
  5,673
  6,100
  6,547
  7,014
  7,503
  8,015
  8,551
  9,113
  9,701
  10,317
  10,963
  11,640
  12,350
Total liabilities, $m
  2,561
  2,765
  2,978
  3,199
  3,429
  3,668
  3,916
  4,174
  4,443
  4,722
  5,013
  5,317
  5,632
  5,962
  6,305
  6,664
  7,038
  7,429
  7,838
  8,265
  8,712
  9,179
  9,668
  10,180
  10,716
  11,278
  11,866
  12,482
  13,128
  13,805
  14,515
Total equity, $m
  2,748
  1,768
  1,904
  2,045
  2,192
  2,345
  2,504
  2,669
  2,841
  3,019
  3,205
  3,399
  3,601
  3,812
  4,031
  4,261
  4,500
  4,750
  5,011
  5,284
  5,570
  5,869
  6,181
  6,509
  6,851
  7,210
  7,587
  7,981
  8,393
  8,826
  9,280
Total liabilities and equity, $m
  5,309
  4,533
  4,882
  5,244
  5,621
  6,013
  6,420
  6,843
  7,284
  7,741
  8,218
  8,716
  9,233
  9,774
  10,336
  10,925
  11,538
  12,179
  12,849
  13,549
  14,282
  15,048
  15,849
  16,689
  17,567
  18,488
  19,453
  20,463
  21,521
  22,631
  23,795
Debt-to-equity ratio
  0.144
  0.340
  0.430
  0.510
  0.580
  0.640
  0.700
  0.750
  0.800
  0.850
  0.890
  0.930
  0.960
  1.000
  1.030
  1.060
  1.080
  1.110
  1.130
  1.150
  1.180
  1.200
  1.210
  1.230
  1.250
  1.260
  1.280
  1.290
  1.310
  1.320
  1.330
Adjusted equity ratio
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,118
  1,422
  1,553
  1,689
  1,831
  1,978
  2,132
  2,292
  2,459
  2,632
  2,813
  3,002
  3,199
  3,405
  3,619
  3,844
  4,079
  4,325
  4,582
  4,851
  5,133
  5,428
  5,738
  6,062
  6,403
  6,759
  7,134
  7,527
  7,939
  8,372
  8,826
Depreciation, amort., depletion, $m
  303
  328
  354
  380
  407
  436
  465
  496
  528
  561
  596
  632
  669
  708
  749
  792
  836
  883
  931
  982
  1,035
  1,091
  1,149
  1,209
  1,273
  1,340
  1,410
  1,483
  1,560
  1,640
  1,724
Funds from operations, $m
  1,632
  1,750
  1,907
  2,069
  2,238
  2,414
  2,597
  2,788
  2,986
  3,193
  3,409
  3,633
  3,868
  4,113
  4,368
  4,636
  4,915
  5,207
  5,513
  5,833
  6,168
  6,519
  6,886
  7,272
  7,676
  8,099
  8,544
  9,010
  9,499
  10,012
  10,550
Change in working capital, $m
  73
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
Cash from operations, $m
  1,559
  1,747
  1,911
  2,074
  2,243
  2,419
  2,602
  2,793
  2,992
  3,199
  3,415
  3,640
  3,874
  4,119
  4,375
  4,643
  4,923
  5,215
  5,521
  5,841
  6,177
  6,528
  6,896
  7,282
  7,686
  8,111
  8,555
  9,022
  9,512
  10,025
  10,565
Maintenance CAPEX, $m
  0
  -303
  -328
  -354
  -380
  -407
  -436
  -465
  -496
  -528
  -561
  -596
  -632
  -669
  -708
  -749
  -792
  -836
  -883
  -931
  -982
  -1,035
  -1,091
  -1,149
  -1,209
  -1,273
  -1,340
  -1,410
  -1,483
  -1,560
  -1,640
New CAPEX, $m
  -298
  -194
  -195
  -202
  -210
  -219
  -227
  -236
  -246
  -256
  -266
  -277
  -289
  -301
  -314
  -328
  -342
  -358
  -374
  -391
  -409
  -428
  -447
  -468
  -490
  -514
  -538
  -564
  -591
  -619
  -649
Cash from investing activities, $m
  -293
  -497
  -523
  -556
  -590
  -626
  -663
  -701
  -742
  -784
  -827
  -873
  -921
  -970
  -1,022
  -1,077
  -1,134
  -1,194
  -1,257
  -1,322
  -1,391
  -1,463
  -1,538
  -1,617
  -1,699
  -1,787
  -1,878
  -1,974
  -2,074
  -2,179
  -2,289
Free cash flow, $m
  1,266
  1,250
  1,388
  1,517
  1,653
  1,793
  1,939
  2,092
  2,250
  2,415
  2,587
  2,767
  2,954
  3,149
  3,353
  3,566
  3,788
  4,021
  4,265
  4,519
  4,786
  5,066
  5,358
  5,665
  5,987
  6,324
  6,678
  7,049
  7,438
  7,847
  8,275
Issuance/(repayment) of debt, $m
  0
  204
  213
  221
  230
  239
  248
  258
  269
  280
  291
  303
  316
  329
  344
  359
  374
  391
  409
  427
  447
  467
  489
  512
  536
  561
  588
  616
  646
  677
  710
Issuance/(repurchase) of shares, $m
  -725
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -701
  204
  213
  221
  230
  239
  248
  258
  269
  280
  291
  303
  316
  329
  344
  359
  374
  391
  409
  427
  447
  467
  489
  512
  536
  561
  588
  616
  646
  677
  710
Total cash flow (excl. dividends), $m
  565
  1,454
  1,601
  1,739
  1,882
  2,032
  2,188
  2,350
  2,519
  2,695
  2,878
  3,070
  3,270
  3,478
  3,696
  3,924
  4,163
  4,412
  4,673
  4,947
  5,233
  5,533
  5,847
  6,177
  6,523
  6,885
  7,266
  7,665
  8,084
  8,524
  8,985
Retained Cash Flow (-), $m
  -276
  -132
  -136
  -141
  -147
  -153
  -159
  -165
  -172
  -179
  -186
  -194
  -202
  -211
  -220
  -229
  -239
  -250
  -261
  -273
  -286
  -299
  -313
  -327
  -343
  -359
  -376
  -394
  -413
  -433
  -454
Prev. year cash balance distribution, $m
 
  1,112
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  2,434
  1,464
  1,597
  1,735
  1,879
  2,029
  2,185
  2,347
  2,516
  2,692
  2,876
  3,068
  3,268
  3,477
  3,695
  3,923
  4,162
  4,412
  4,673
  4,947
  5,234
  5,535
  5,850
  6,180
  6,526
  6,890
  7,271
  7,671
  8,091
  8,531
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  2,334
  1,341
  1,390
  1,429
  1,457
  1,472
  1,476
  1,467
  1,445
  1,411
  1,366
  1,309
  1,242
  1,167
  1,085
  997
  906
  813
  720
  629
  541
  459
  383
  315
  254
  201
  156
  119
  88
  64
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Ross Stores, Inc., together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brand names in the United States. It primarily offers apparel, accessories, footwear, and home fashions. The company’s Ross Dress for Less stores sell its products at savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd’s DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income. As of October 10, 2016, it operated 1,342 Ross Dress for Less stores in 36 states, the District of Columbia, and Guam; and 193 dd's DISCOUNTS stores in 15 states. The company was founded in 1982 and is headquartered in Dublin, California.

FINANCIAL RATIOS  of  Ross Stores (ROST)

Valuation Ratios
P/E Ratio 23
Price to Sales 2
Price to Book 9.3
Price to Tangible Book
Price to Cash Flow 16.5
Price to Free Cash Flow 20.4
Growth Rates
Sales Growth Rate 7.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -18.8%
Cap. Spend. - 3 Yr. Gr. Rate -11.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 14.4%
Total Debt to Equity 14.4%
Interest Coverage 100
Management Effectiveness
Return On Assets 22.2%
Ret/ On Assets - 3 Yr. Avg. 21.8%
Return On Total Capital 37.2%
Ret/ On T. Cap. - 3 Yr. Avg. 37.4%
Return On Equity 42.8%
Return On Equity - 3 Yr. Avg. 43%
Asset Turnover 2.5
Profitability Ratios
Gross Margin 28.7%
Gross Margin - 3 Yr. Avg. 28.3%
EBITDA Margin 16.4%
EBITDA Margin - 3 Yr. Avg. 16%
Operating Margin 14%
Oper. Margin - 3 Yr. Avg. 13.7%
Pre-Tax Margin 13.9%
Pre-Tax Margin - 3 Yr. Avg. 13.6%
Net Profit Margin 8.7%
Net Profit Margin - 3 Yr. Avg. 8.5%
Effective Tax Rate 37.4%
Eff/ Tax Rate - 3 Yr. Avg. 37.3%
Payout Ratio 19.2%

ROST stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ROST stock intrinsic value calculation we used $12867 million for the last fiscal year's total revenue generated by Ross Stores. The default revenue input number comes from 2017 income statement of Ross Stores. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ROST stock valuation model: a) initial revenue growth rate of 8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ROST is calculated based on our internal credit rating of Ross Stores, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ross Stores.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ROST stock the variable cost ratio is equal to 80.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $699 million in the base year in the intrinsic value calculation for ROST stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.5% for Ross Stores.

Corporate tax rate of 27% is the nominal tax rate for Ross Stores. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ROST stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ROST are equal to 18.2%.

Life of production assets of 7.7 years is the average useful life of capital assets used in Ross Stores operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ROST is equal to -0.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2748 million for Ross Stores - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 387.582 million for Ross Stores is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ross Stores at the current share price and the inputted number of shares is $25.4 billion.


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Stock chart of ROST Financial statements of ROST
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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