Filing Flows

Filing Flows › Companies › Ross Stores › Cash flow

Ross Stores cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$624M in Q2 FY27 · $2.8B over twelve months

Operating cash flow$876M
Capital spending−$251M
Free cash flow+$624M
Cash / net income1.0×
Cash conversion cycle12 days

Analysis

In Q2 FY27, Ross Stores generated $876M of operating cash flow and spent $251M on capital projects, leaving free cash flow of $624M.

Over the twelve months to Aug 1, 2026, operating cash flow was $3.7B; the largest uses were buybacks ($1.2B), capital spending ($870M), dividends ($549M); besides operations, cash came from shares issued ($26.1M); the cash balance rose by $444M.

Operating cash flow was $876M against net income of $851M — 1.0× profit, roughly in line with earnings. The largest differences: depreciation & amortization +$140M, income taxes payable −$123M, other liabilities +$123M.

Its cash conversion cycle was 12 days (receivables 3 + inventory 67 − payables 58).

Free cash flow

Ross Stores: free cash flow by quarterRoss Stores: free cash flow by quarter$333MQ3 FY25$677MQ4 FY25$202MQ1 FY26$467MQ2 FY26$618MQ3 FY26$921MQ4 FY26$627MQ1 FY27$624MQ2 FY27
Operating cash flow less capital spending.
Ross Stores: operating cash flow against capital spendingRoss Stores: operating cash flow against capital spendingOperating cash flowCapital spending$513M$180MQ3 FY25$883M$206MQ4 FY25$410M$207MQ1 FY26$668M$202MQ2 FY26$827M$209MQ3 FY26$1.1B$201MQ4 FY26$836M$209MQ1 FY27$876M$251MQ2 FY27
Latest (Q2 FY27): Operating cash flow $876M, Capital spending $251M.

Capital allocation, year by year

Ross Stores: where the cash came from (up) and went (down), by fiscal yearRoss Stores: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY22: Operating cash flow $1.7BFY22: Net borrowing −$65.0MFY22: Shares issued $25.1MFY22: Capital spending −$558MFY22: Buybacks −$650MFY22: Dividends −$405M$1.8BFY22FY23: Operating cash flow $1.7BFY23: Shares issued $24.7MFY23: Capital spending −$654MFY23: Buybacks −$950MFY23: Dividends −$431M$1.7BFY23FY24: Operating cash flow $2.5BFY24: Shares issued $24.9MFY24: Capital spending −$763MFY24: Buybacks −$950MFY24: Dividends −$455M$2.5BFY24FY25: Operating cash flow $2.4BFY25: Net borrowing −$250MFY25: Shares issued $25.1MFY25: Asset sales $82.6MFY25: Capital spending −$720MFY25: Buybacks −$1.0BFY25: Dividends −$489M$2.5BFY25FY26: Operating cash flow $3.0BFY26: Net borrowing −$700MFY26: Shares issued $25.3MFY26: Capital spending −$819MFY26: Buybacks −$1.1BFY26: Dividends −$528M$3.1BFY26
Over these 5 years operating cash flow totalled $11.3B; the largest uses were buybacks ($4.6B) and capital spending ($3.5B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$4.3B
Debt$1.0B
Net cash$3.3B
Due within a year$500M

Ross Stores funds itself: free cash flow was $2.8B over the last twelve months, and $4.3B of cash and investments stands against $1.0B of debt ($500M due within a year, 8.6× covered by cash).

Ross Stores: debt maturities by year (FY26)Ross Stores: debt maturities by year (FY26)$500MYear 1$242MYear 2$134MYear 5$649MAfter year 5
Principal due in each year as disclosed in the annual report, against $4.3B of cash and investments now.

Where the cash came from and went

Ross Stores: sources (+) and uses (−) of cash, Q2 FY27Ross Stores: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$876MBuybacks−$319MCapital spending−$251MCash drawn (+) / kept (−)−$158MDividends−$143MOther financing−$11.9MShares issued$6.6M
Ross Stores: sources (+) and uses (−) of cash, TTM to Q2 FY27Ross Stores: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$3.7BBuybacks−$1.2BCapital spending−$870MDividends−$549MNet borrowing (+) / repaid (−)−$500MCash drawn (+) / kept (−)−$444MOther financing−$162MShares issued$26.1M

From profit to cash

Ross Stores: net income to operating cash flow, Q2 FY27Ross Stores: net income to operating cash flow, Q2 FY27Net income$851MDepreciation & amortization$140MStock-based pay$47.3MDeferred taxes$17.1MInventory−$110MPayables−$35.8MPrepaid and other assets−$35.2MOther liabilities$123MIncome taxes payable−$123MOperating cash flow$876M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY273675812
Q1 FY27360549
Q4 FY263544710
Q3 FY263655513
Q2 FY263605014
Q1 FY263655513
Q4 FY252564711
Q3 FY253675713

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$876M−$251M−$319M−$143M—$6.6M−$158M$624M
Q1 FY27$836M−$209M−$319M−$144M−$500M$6.6M$463M$627M
Q4 FY26$1.1B−$201M−$262M−$131M—$6.4M−$534M$921M
Q3 FY26$827M−$209M−$262M−$132M—$6.5M−$215M$618M
Q2 FY26$668M−$202M−$262M−$132M—$6.2M−$64.3M$467M
Q1 FY26$410M−$207M−$263M−$133M−$700M$6.1M$947M$202M
Q4 FY25$883M−$206M−$262M−$121M—$6.3M−$382M$677M
Q3 FY25$513M−$180M−$262M−$122M−$250M$6.4M$318M$333M

Ross Stores: income statement and cash flow

Ross Stores, Q2 FY27: revenue $6.3B (+13% year over year), operating margin 17.6%. The chart follows the revenue to costs, profit and cash.

Ross Stores: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.