{"schemaVersion":1,"research":true,"symbol":"rost","name":"Ross Stores","topic":"moat","path":"/stock/rost/moat","status":"published","version":5,"updatedAt":"2026-10-18T13:05:34.228Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"narrow","summary":"Ross has a narrow cost advantage from its established opportunistic buying, flexible vendor requirements and packaway infrastructure. Strong comparable-store sales support the model's current effectiveness, but superiority over other off-price operators is unestablished. Pricing strength primarily comes from acquiring goods cheaply and offering attractive discounts; demonstrated ability to raise like-for-like customer prices is missing. Competition, merchandise availability and execution constrain durability.","advantages":[{"mechanism":"cost_advantage","claim":"Late-cycle purchasing, fewer vendor service requirements and packaway capabilities support lower merchandise acquisition costs than conventional retail formats. These are existing operating practices, although the comparative purchasing advantage is an issuer assertion. Store expansion and comparable-store growth corroborate commercial effectiveness without proving superiority over off-price peers.","durability":"The established buying and distribution infrastructure plausibly supports a continuing narrow advantage. Similar practices appear in the 2024 and 2026 filings, and the footprint reached 2,328 stores in August 2026. Neither exclusivity nor an enduring barrier against other off-price operators is demonstrated.","risks":"Better vendor inventory management could reduce close-out supply; competition could bid up acquisition costs or narrow customer savings. Packaway mistakes can require markdowns. An exclusively physical sales channel faces growing e-commerce competition. These disclosed risks are possibilities, not evidence of realized competitive collapse.","invalidation":"The thesis would fail if Ross could no longer acquire comparable branded merchandise below conventional retailers' costs while maintaining attractive customer savings, or if repeated comparable-store sales declines accompanied persistent markdown increases and deteriorating operating results after excluding tariff recoveries and other unusual benefits.","competitors":[],"evidenceIds":["e1","e2","e3","e4","e5","e6","e7","e8","e9"],"counterEvidenceIds":["e10","e11","e12","e13","e14","e15"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Business / Merchandising, Purchasing, and Pricing","excerpt":"By purchasing later in the merchandise buying cycle than department, specialty, and discount stores, we are able to take advantage of imbalances between retailers’ demand for products and manufacturers’ supply of those products."},{"id":"e2","sourceId":"filing-1","location":"Business / vendor purchasing requirements","excerpt":"We typically do not require that vendors or manufacturers provide promotional allowances, co-op advertising allowances, return privileges, drop shipments to stores, or delayed deliveries of merchandise."},{"id":"e3","sourceId":"filing-1","location":"Business / purchasing discounts","excerpt":"These flexible requirements further enable our buyers to obtain significant discounts on purchases."},{"id":"e4","sourceId":"filing-1","location":"Business / comparative merchandise acquisition costs","excerpt":"The off-price buying strategies utilized by our experienced team of merchants enable us to purchase Ross merchandise at net prices that are lower than prices paid by department and specialty stores, and to purchase dd’s DISCOUNTS merchandise at net prices that are lower than prices paid by moderate department and discount stores."},{"id":"e5","sourceId":"filing-1","location":"MD&A / packaway inventory","excerpt":"Packaway inventory was 37% of total inventory at the end of fiscal 2025, compared to 41% at the end of fiscal 2024."},{"id":"e6","sourceId":"filing-5","location":"Business / comparative merchandise acquisition costs","excerpt":"The off-price buying strategies utilized by our experienced team of merchants enable us to purchase Ross merchandise at net prices that are lower than prices paid by department and specialty stores, and to purchase dd’s DISCOUNTS merchandise at net prices that are lower than prices paid by moderate department and discount stores."},{"id":"e7","sourceId":"filing-2","location":"MD&A / Store Openings","excerpt":"18 Store Openings The following table summarizes the stores opened and closed during the three and six month periods ended August 1, 2026 and August 2, 2025: Three Months Ended Six Months Ended Store Count August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025 Ross Dress for Less Beginning of the period 1,917 1,847 1,904 1,831 Opened in the period 35 28 48 44 Closed in the period — (2) — (2) Total Ross Dress for Less stores end of period 1,952 1,873 1,952 1,873 dd’s DISCOUNTS Beginning of the period 365 358 363 355 Opened in the period 12 3 16 6 Closed in the period (1) (1) (3) (1) Total dd’s DISCOUNTS stores end of period 376 360 376 360 Total stores end of period 2,328 2,233 2,328 2,233 We opened 47 new stores in the second quarter of fiscal 2026, consisting of 35 Ross stores and 12 dd’s DISCOUNTS stores."},{"id":"e8","sourceId":"filing-6","location":"MD&A / first-quarter fiscal 2026 comparable-store sales","excerpt":"•Comparable store sales increased 17%."},{"id":"e9","sourceId":"filing-2","location":"MD&A / second-quarter fiscal 2026 comparable-store sales","excerpt":"•Comparable store sales increased 10%."},{"id":"e10","sourceId":"filing-1","location":"Competition / competing retail formats","excerpt":"We face a challenging and rapidly changing macroeconomic and retail environment that creates intense competition for our business from online retailers, department stores, specialty stores, discount stores, warehouse stores, other off-price retailers, and manufacturer-owned outlet stores, many of which are units of large national or regional chains that have substantial resources."},{"id":"e11","sourceId":"filing-1","location":"Competition / physical stores and e-commerce","excerpt":"While our business is exclusively in brick-and-mortar stores, consumer e-commerce spending continues to increase."},{"id":"e12","sourceId":"filing-1","location":"Strategic Risks / merchandise availability","excerpt":"STRATEGIC RISKS We depend on the market availability, quantity, and quality of attractive brand name merchandise at desirable discounts, and on the ability of our buyers to source and purchase merchandise to enable us to offer customers a wide assortment of merchandise at competitive prices."},{"id":"e13","sourceId":"filing-1","location":"Risk Factors / packaway markdown exposure","excerpt":"If we make packaway purchases that do not align with consumer preferences at the later time of release to our stores, we could have significant inventory markdowns."},{"id":"e14","sourceId":"filing-1","location":"MD&A / fiscal 2025 operating income","excerpt":"26 Operating income. Operating income as a percentage of sales for fiscal 2025 decreased by 35 basis points compared to fiscal 2024, as both SG&A and cost of goods sold increased as a percentage of sales period-over-period."},{"id":"e15","sourceId":"filing-5","location":"Risk Factors / vendor supply availability","excerpt":"To the extent that certain of our vendors decide not to sell to us or go out of business, the amount of high quality merchandise available to us could also be materially reduced."},{"id":"e16","sourceId":"filing-1","location":"Business / Ross selling-price discounts","excerpt":"Pricing. We sell brand name merchandise at Ross that is priced 20% to 60% below most department and specialty store regular prices."},{"id":"e17","sourceId":"filing-1","location":"Business / acquisition prices and markups","excerpt":"We generally purchase our merchandise at lower prices and mark it up less than a department or specialty store."},{"id":"e18","sourceId":"filing-1","location":"Business / buyer discretion over markdowns","excerpt":"Our buyers review their departments in our stores for possible markdowns based on the rate of sale on a weekly basis, as well as at the end of fashion seasons, to promote faster turnover of merchandise inventory and to accelerate the flow of fresh product to our stores."},{"id":"e19","sourceId":"filing-2","location":"Condensed Consolidated Statements of Earnings","excerpt":"FINANCIAL STATEMENTS Condensed Consolidated Statements of Earnings Three Months Ended Six Months Ended ($000, except per share data, unaudited) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025 Sales $ 6,264,886 $ 5,529,152 $ 12,275,362 $ 10,514,123 Costs and Expenses Cost of goods sold 4,145,215 4,002,167 8,375,804 7,583,533 Selling, general and administrative 1,016,053 888,711 1,991,914 1,685,846 Operating income 1,103,618 638,274 1,907,644 1,244,744 Interest income, net (31,144) (32,346) (64,593) (66,755) Earnings before taxes 1,134,762 670,620 1,972,237 1,311,499 Provision for taxes on earnings 283,463 162,625 470,974 324,255 Net earnings $ 851,299 $ 507,995 $ 1,501,263 $ 987,244 Earnings per share Basic $ 2.68 $ 1.57 $ 4.72 $ 3.05 Diluted $ 2.66 $ 1.56 $ 4.69 $ 3.03 Weighted-average shares outstanding (000) Basic 317,687 323,000 318,322 323,938 Diluted 319,450 324,796 320,343 325,909 The accompanying notes are an integral part of these condensed consolidated financial statements."},{"id":"e20","sourceId":"filing-2","location":"Note A / recognized tariff recoveries","excerpt":"For the three month period ended August 1, 2026, the Company recognized a benefit of approximately $253 million related to these tariff recoveries in Cost of goods sold, with substantially all amounts received as of August 1, 2026."},{"id":"e21","sourceId":"filing-2","location":"Condensed Consolidated Statements of Cash Flows","excerpt":"6 Condensed Consolidated Statements of Cash Flows Six Months Ended ($000, unaudited) August 1, 2026 August 2, 2025 Cash Flows From Operating Activities Net earnings $ 1,501,263 $ 987,244 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 272,790 242,337 Stock-based compensation 106,377 83,239 Deferred income taxes 51,130 51,945 Change in assets and liabilities: Merchandise inventory (456,400) (163,972) Other current assets (85,729) (92,049) Accounts payable 226,307 101,937 Other current liabilities 65,676 (83,135) Income taxes 29,788 (54,139) Operating lease assets and liabilities, net 166 4,301 Other long-term, net 399 369 Net cash provided by operating activities 1,711,767 1,078,077 Cash Flows From Investing Activities Additions to property and equipment (460,217) (409,105) Net cash used in investing activities (460,217) (409,105) Cash Flows From Financing Activities Issuance of common stock related to stock plans 13,183 12,380 Treasury stock purchased (136,595) (64,420) Repurchase of common stock (637,500) (525,021) Excise tax paid on repurchase of common stock (9,496) (9,443) Dividends paid (286,191) (265,637) Payment of long-term debt (500,000) (700,000) Net cash used in financing activities (1,556,599) (1,552,141) Net decrease in cash, cash equivalents, and restricted cash and cash equivalents (305,049) (883,169) Cash, cash equivalents, and restricted cash and cash equivalents: Beginning of period 4,661,973 4,796,462 End of period $ 4,356,924 $ 3,913,293 Supplemental Cash Flow Disclosures Interest paid $ 19,839 $ 35,939 Income taxes paid, net $ 390,056 $ 326,449 The accompanying notes are an integral part of these condensed consolidated financial statements."},{"id":"e22","sourceId":"filing-2","location":"Condensed Consolidated Balance Sheets","excerpt":"4 Condensed Consolidated Balance Sheets ($000, except share data, unaudited) August 1, 2026 January 31, 2026 August 2, 2025 Assets Current Assets Cash and cash equivalents $ 4,288,124 $ 4,594,392 $ 3,847,016 Accounts receivable 248,140 181,301 210,520 Merchandise inventory 3,087,370 2,630,970 2,608,485 Prepaid expenses and other 252,726 233,434 259,815 Total current assets 7,876,360 7,640,097 6,925,836 Property and Equipment Land and buildings 1,838,383 1,836,167 1,821,855 Fixtures and equipment 5,310,383 5,056,827 4,883,392 Leasehold improvements 1,900,782 1,861,160 1,727,314 Construction-in-progress 558,837 477,290 394,493 9,608,385 9,231,444 8,827,054 Less accumulated depreciation and amortization 5,350,579 5,142,684 4,920,714 Property and equipment, net 4,257,806 4,088,760 3,906,340 Operating lease assets 3,545,351 3,519,610 3,374,582 Other long-term assets 302,763 300,270 288,761 Total assets $ 15,982,280 $ 15,548,737 $ 14,495,519 Liabilities and Stockholders’ Equity Current Liabilities Accounts payable $ 2,621,740 $ 2,386,418 $ 2,205,613 Accrued expenses and other 744,284 666,978 655,218 Current operating lease liabilities 752,302 727,855 716,162 Accrued payroll and benefits 440,837 484,407 315,893 Income taxes payable 84,916 61,779 — Current portion of long-term debt 241,459 499,743 499,122 Total current liabilities 4,885,538 4,827,180 4,392,008 Long-term debt 777,053 1,017,863 1,017,218 Non-current operating lease liabilities 2,968,337 2,966,877 2,835,481 Other long-term liabilities 295,611 287,947 279,258 Deferred income taxes 312,557 261,427 238,985 Commitments and contingencies Stockholders’ Equity Common stock, par value $.01 per share Authorized 1,000,000,000 shares Issued and outstanding 319,668,000, 322,333,000 and 325,531,000 shares, respectively 3,197 3,223 3,255 Additional paid-in capital 2,359,505 2,257,354 2,170,734 Treasury stock (935,883) (799,288) (783,830) Retained earnings 5,316,365 4,726,154 4,342,410 Total stockholders’ equity 6,743,184 6,187,443 5,732,569 Total liabilities and stockholders’ equity $ 15,982,280 $ 15,548,737 $ 14,495,519 The accompanying notes are an integral part of these condensed consolidated financial statements."},{"id":"e23","sourceId":"filing-3","location":"Executive Compensation / restricted stock vesting","excerpt":"•Restricted Stock Awards: Restricted stock awards granted to our NEOs are structured to vest in large increments in future years after grant, and generally vest over four to five years of service."},{"id":"e24","sourceId":"filing-2","location":"Note C / performance share award conditions","excerpt":"A performance share award represents a right to receive shares of restricted stock on a specified settlement date based on the Company’s attainment of a performance goal during the performance period, which is the Company’s fiscal year."},{"id":"e25","sourceId":"filing-2","location":"Note C / subsequent service vesting","excerpt":"If attained, the restricted stock then vests over a service period, generally three years from the date the performance award was granted."},{"id":"e26","sourceId":"filing-3","location":"Executive Compensation / ownership guidelines","excerpt":"Our formal stock ownership guidelines for directors and executive officers are as follows: Position Stock Ownership Guidelines (Dollar Value of Shares) Directors 5 x Authorized Base Annual Cash Retainer Compensation Chief Executive Officer 6 x Base Salary Other NEOs 3 x Base Salary Directors and executive officers are allowed five years to initially meet the stock ownership levels."},{"id":"e27","sourceId":"filing-3","location":"Executive Compensation / ownership guideline status","excerpt":"38 As of January 31, 2026, all current executive officers, and all independent Board members, have met or are on track to meet the applicable stock ownership guidelines within the five-year window."},{"id":"e28","sourceId":"filing-3","location":"Corporate Governance / independent director executive sessions","excerpt":"During the fiscal year, the independent directors held five meetings in executive session without management."},{"id":"e29","sourceId":"filing-3","location":"Corporate Governance / separation of chair and CEO","excerpt":"Board Leadership Structure. Our Board has long separated the roles of Chair of the Board (“Board Chair”) and Chief Executive Officer (“CEO”)."},{"id":"e30","sourceId":"filing-3","location":"Executive Compensation / adopted clawback policy","excerpt":"In November 2023, the Committee adopted a Policy for Recovery of Erroneously Awarded Compensation (“Clawback Policy”) for current and former executive officers (those officers who are required to file reports under Section 16(a) of the Exchange Act), which is intended to comply with applicable Nasdaq listing standards and other relevant requirements."},{"id":"e31","sourceId":"filing-3","location":"Executive Compensation / fiscal 2025 performance ranges","excerpt":"In response to this highly uncertain environment, the Committee adopted broader performance ranges and revised the payout schedules for the fiscal 2025 annual cash incentive bonuses and performance share awards, while maintaining a fully formulaic payout structure."},{"id":"e32","sourceId":"filing-2","location":"Note C / approved equity plan reserve increase","excerpt":"The initial reserve represents an increase of 9.0 million shares from the total number of shares that remained available for issuance under the Predecessor Plan."},{"id":"e33","sourceId":"filing-6","location":"MD&A / first-quarter operating margin","excerpt":"•Operating income as a percentage of sales was 13.4%, compared to 12.2% in the first quarter of fiscal 2025."}],"changes":["Retain the previous narrow verdict, while explicitly distinguishing the issuer's comparative sourcing claims from demonstrated store growth and demand.","Identify the approximately $253 million tariff recovery in second-quarter fiscal 2026 results; headline margin expansion overstates recurring operating improvement.","Add criterion-level pricing, management alignment and governance assessments using disclosed operating results and implemented compensation arrangements."],"limitations":["The supplied passages identify generic competitor categories, not named competitive entities. Companies mentioned in director biographies are not established competitors; competitor arrays therefore remain empty.","Comparative purchasing costs and advertised savings are issuer descriptions without matched-product competitor verification. Results corroborate commercial effectiveness but do not isolate its cause.","Comparable-store sales provide indirect demand evidence; customer-level repeat purchases, retention rates, traffic and average-ticket contributions are absent.","No like-for-like selling-price history, price elasticity or comprehensive supplier pricing restrictions are supplied.","Ownership guidelines and compliance progress are disclosed, but exact executive beneficial ownership is absent. Being on track is not equivalent to meeting the guidelines.","All source dates have dateKind filed. The latest supplied filing is dated September 1, 2026 and reports operations through August 1, 2026; subsequent performance is not established."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":3,"rationale":"Established late-cycle purchasing, flexible vendor requirements and substantial packaway operations support a sourcing cost advantage, corroborated by strong existing-store demand and a large operating footprint. Comparative cost superiority remains issuer-reported and unproven against off-price peers.","evidenceIds":["e1","e2","e3","e4","e5","e7","e8","e9"]},{"criterion":"durability","grade":2,"rationale":"The sourcing model appears consistently across the 2024 and 2026 disclosures and supports continued expansion. Dependence on discretionary merchandise supply and substantial competing retailers limits confidence in enduring protection.","evidenceIds":["e4","e6","e7","e10","e12","e15"]},{"criterion":"customer_dependency","grade":1,"rationale":"The disclosed customer proposition rests on attractive branded discounts in a market with many alternatives. Strong comparable-store sales demonstrate demand, but the passages establish little customer dependence or switching friction.","evidenceIds":["e8","e9","e10","e16","e17"]},{"criterion":"erosion_resilience","grade":2,"rationale":"Recent comparable-store growth and first-quarter margin improvement indicate current resilience. Fiscal 2025 margin contraction, merchandise supply dependence and physical-channel exposure temper that evidence; risk disclosures do not establish realized erosion.","evidenceIds":["e8","e9","e11","e12","e14","e33"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":2,"rationale":"Ross reports selling branded goods at substantial discounts and using lower markups, while comparable-store sales show that the value proposition attracts demand. This supports effective value pricing, but neither premium pricing nor like-for-like price increases are demonstrated.","evidenceIds":["e16","e17","e18","e8","e9"]},{"criterion":"retention","grade":2,"rationale":"Comparable-store sales increases of 17% and 10% in the first two fiscal 2026 quarters support sustained demand at established stores. This is indirect evidence: acquisition, repeat purchases, traffic and ticket changes cannot be separated.","evidenceIds":["e8","e9"]},{"criterion":"margin_resilience","grade":2,"rationale":"Fiscal 2025 operating margin declined 35 basis points, followed by first-quarter improvement from 12.2% to 13.4%. Removing the disclosed $253 million tariff recovery gives a calculated second-quarter operating margin of approximately 13.6%, versus 11.5% a year earlier. The evidence is favorable recently but mixed across periods and does not isolate pricing from sourcing or operating leverage.","evidenceIds":["e14","e19","e20","e33"]},{"criterion":"contractual_freedom","grade":3,"rationale":"The disclosed pricing process places markdown decisions with buyers through weekly sales reviews, demonstrating practical discretion over retail prices. Competition constrains economic freedom, and comprehensive supplier restrictions are not supplied.","evidenceIds":["e16","e17","e18","e10"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":3,"rationale":"First-half fiscal 2026 operating cash flow of approximately $1.712 billion funded $460 million of capital spending, $638 million of repurchases and $286 million of dividends, alongside a $500 million debt repayment. Cash remained approximately $4.288 billion and outstanding shares declined year over year. These are demonstrated financing outcomes; buyback valuation and incremental store returns are unestablished.","evidenceIds":["e21","e22","e7"]},{"criterion":"incentive_alignment","grade":3,"rationale":"Actual compensation arrangements combine performance-conditioned shares, subsequent service vesting, extended restricted-stock vesting and ownership guidelines. Alignment is meaningful but imperfect: guidelines count unvested shares, some officers are only on track, fiscal 2025 payout ranges were broadened, and the approved plan added nine million reserved shares. Authorization is not actual issuance.","evidenceIds":["e23","e24","e25","e26","e27","e31","e32"]},{"criterion":"execution","grade":3,"rationale":"Strong comparable-store sales, expansion to 2,328 stores and increased operating cash generation demonstrate effective execution. This assessment uses operating outcomes rather than direct attribution to particular initiatives or executives. Tariff recoveries explain part of reported profit improvement, and new-store investment returns are not disclosed.","evidenceIds":["e7","e8","e9","e19","e20","e21"]},{"criterion":"governance","grade":3,"rationale":"Separate chair and CEO roles, five independent-director executive sessions during fiscal 2025 and an adopted compensation clawback policy establish substantive oversight practices. Broadened incentive payout ranges warrant scrutiny; the passages do not demonstrate exceptional oversight effectiveness or actual clawback enforcement.","evidenceIds":["e28","e29","e30","e31"]}]}],"financialAssessments":[],"qualityPolicy":"quality-scores-2","sourcePolicy":"issuer-evidence-4","basisHash":"ac6c1d96f8120aee5ff94a3a95f32e022a1140eedf0cb0c27483d1ed677e5f04","updatedAt":"2026-10-18T13:05:34.228Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/745732/000074573226000006/rost-20260131.htm","publishedAt":"2026-03-31","sha256":"186c2c93c3c4efbb79b49d8e1d2fe2f322baeced606a629ecc55c234caf3838c","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/745732/000074573226000041/rost-20260801.htm","publishedAt":"2026-09-01","sha256":"4abe55aa85a0dff7f20f72239c9d7773f9893e9b4bfb1fdd4d8973ba2b52f05e","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/745732/000074573226000013/rost-20260406.htm","publishedAt":"2026-04-07","sha256":"6689da6c6d5a7dbc6bbc24972a4d077d977b430decbb183f228060a9f0d22ee8","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/745732/000074573225000010/rost-20250201.htm","publishedAt":"2025-04-01","sha256":"2013d6eaa3c596b424ae11b41c61f7497f8edb021004e4e40ebaae43e9ace658","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/745732/000074573224000009/rost-20240203.htm","publishedAt":"2024-04-02","sha256":"545a440295610bb002ccf8c931351bd852564a9a71ad8567ffc42bc7899f4d50","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/745732/000074573226000032/rost-20260502.htm","publishedAt":"2026-06-02","sha256":"99622f0838c63cf4c87c559e0b2fa74a96fe5499155610fb7b6790b0d229e9fb","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:466a8c182575b5b911ab805570ddc65640f54545e5080dab3fd5d84b1ea27a55","usage":{"input_tokens":86475,"cached_input_tokens":0,"cache_write_input_tokens":0,"output_tokens":3788,"reasoning_output_tokens":145},"basisSupplement":{"previousHash":"584e13e29c10b22f3ceea91a6ceb1594cfa337ddfc31c790ece9b087be98a744","checkedAt":"2026-10-18T15:55:15.653Z","rule":"dated historical and missing inputs only; 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a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","interest_coverage":"The reported inputs required for this metric are unavailable in the extracted statements for this period."}},{"period":"2024","end":"2024-02-03","values":{"gross_margin":27.36102538648956,"operating_margin":11.3248745236098,"roic":75.22558371104633,"fcf_margin":8.596373714778876,"sbc_revenue":0.713993331972645},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","interest_coverage":"The reported inputs required for this metric are unavailable in the extracted statements for this period."}},{"period":"2025","end":"2025-02-01","values":{"gross_margin":27.775342761130933,"operating_margin":12.237016427346415,"roic":71.91187405647884,"fcf_margin":7.747016110723258,"sbc_revenue":0.7397244545574543},"issues":{"pfcf_growth":"TTM FCF per diluted share growth is zero or negative; 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