Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Ross Stores's Revenue for the
three
months ended in Jan. 2024 was $6,023 Mil. Ross Stores's Total Assets for the quarter that ended in Jan. 2024 was $14,285 Mil. Therefore, Ross Stores's Asset Turnover for the quarter that ended in Jan. 2024 was 0.42.
Asset Turnover is linked to ROE % through Du Pont Formula. Ross Stores's annualizedROE % for the quarter that ended in Jan. 2024 was 51.59%. It is also linked to ROA % through Du Pont Formula. Ross Stores's annualizedROA % for the quarter that ended in Jan. 2024 was 17.07%.
Ross Stores Asset Turnover Historical Data
The historical data trend for Ross Stores's Asset Turnover can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Ross Stores's Asset Turnover
For the Apparel Retail subindustry, Ross Stores's Asset Turnover, along with its competitors' market caps and Asset Turnover data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ross Stores's Asset Turnover Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Ross Stores's Asset Turnover distribution charts can be found below:
* The bar in red indicates where Ross Stores's Asset Turnover falls into.
Ross Stores Asset Turnover Calculation
Asset Turnover measures how quickly a company turns over its asset through sales.
Ross Stores's Asset Turnover for the fiscal year that ended in Jan. 2024 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.
Ross Stores (NAS:ROST) Asset Turnover Explanation
Asset Turnover is linked to ROE % through Du Pont Formula.
Ross Stores's annulizedROE % for the quarter that ended in Jan. 2024 is
Note:
The Net Income data used here is four times the quarterly (Jan. 2024) net income data. The Revenue data used here is four times the quarterly (Jan. 2024) revenue data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.
It is also linked to ROA % through Du Pont Formula:
Ross Stores's annulizedROA % for the quarter that ended in Jan. 2024 is
Note:
The Net Income data used here is four times the quarterly (Jan. 2024) net income data. The Revenue data used here is four times the quarterly (Jan. 2024) revenue data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.
Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.
Ross Stores Asset Turnover Related Terms
Thank you for viewing the detailed overview of Ross Stores's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Ross Stores operates as an off-price apparel and accessories retailer with the majority of its sales derived from its Ross Dress for Less banner. The firm opportunistically procures excess brand-name merchandise made available via manufacturing overruns and retail liquidation sales at a 20%-60% discount to full prices. As such, its stores are frequently filled with a vast array of stock-keeping units, each with minimal product depth that creates a treasure hunt shopping experience. The firm's more than 1,750 Ross Dress for Less stores are primarily located in densely populated suburban communities and typically serve middle-income consumers. Ross also operates nearly 350 DD's Discounts chains that target lower-income shoppers.
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