Ross Stores, Inc. FY 2026 10-K, explained in plain English

Key financials — as reported

Total revenue	$22.8B
Gross margin	27.7%
Operating income	$2.7B
Net income	$2.1B
Diluted EPS	$6.61
Cash & equivalents	$4.6B
Total assets	$15.5B
Long-term debt	$1.5B

Key takeaway

Sales grew 8% to $22.75 billion in fiscal 2025, driven by a 5% comparable store sales increase from higher traffic and larger average baskets.

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Beneath the surface

Despite the healthy cash balance of $4,594 million, this is largely offset by $1,517,606,000 in long-term debt plus $499,743,000 of current long-term debt, leaving a still-solid net cash position but not as large as the headline cash figure suggests.

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