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Macy's (M) Financials

Macy's logo
$12.00 -0.04 (-0.33%)
Closing price 05/28/2025 03:59 PM Eastern
Extended Trading
$12.24 +0.23 (+1.96%)
As of 05/28/2025 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Macy's

Annual Income Statements for Macy's

This table shows Macy's' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 2/1/2025 2/3/2024 1/28/2023 1/29/2022 1/30/2021 2/1/2020 2/2/2019 2/3/2018 1/28/2017 1/30/2016
Net Income / (Loss) Attributable to Common Shareholders
582 45 1,146 1,430 -3,944 564 1,108 1,566 627 1,072
Consolidated Net Income / (Loss)
582 45 1,146 1,430 -3,944 564 1,098 1,555 619 1,070
Net Income / (Loss) Continuing Operations
582 45 1,146 1,430 -3,944 564 1,098 1,555 619 1,070
Total Pre-Tax Income
763 43 1,477 1,866 -4,790 728 1,420 1,516 965 1,678
Total Operating Income
909 301 1,689 2,350 -4,475 970 1,738 1,864 1,371 2,039
Total Gross Profit
9,266 9,642 10,102 10,443 5,811 10,160 9,756 9,758 10,242 10,583
Total Revenue
23,006 23,866 25,449 25,399 18,097 25,331 24,971 24,939 25,908 27,079
Operating Revenue
23,006 23,866 25,449 25,399 17,346 24,560 24,971 24,939 25,908 27,079
Total Cost of Revenue
13,740 14,224 15,347 14,956 12,286 15,171 15,215 15,181 15,666 16,496
Operating Cost of Revenue
13,740 14,224 15,347 14,956 12,286 15,171 15,215 15,181 15,666 16,496
Total Operating Expenses
8,357 9,341 8,413 8,093 10,286 9,190 8,018 7,894 8,871 8,544
Selling, General & Admin Expense
8,330 8,375 8,461 8,154 6,767 8,998 9,039 8,954 9,257 8,468
Restructuring Charge
171 1,027 41 30 3,579 354 136 186 479 288
Other Special Charges / (Income)
-144 -61 -89 -91 -60 -162 -389 -544 -209 -212
Total Other Income / (Expense), net
-146 -258 -212 -484 -315 -242 -318 -348 -406 -361
Interest Expense
1.00 0.00 31 199 284 235 294 311 367 363
Interest & Investment Income
-115 -135 -162 -255 4.00 20 25 11 4.00 2.00
Other Income / (Expense), net
-30 -123 -19 -30 -35 -27 -49 -48 -43 -
Income Tax Expense
181 -2.00 331 436 -846 164 322 -39 346 608
Basic Earnings per Share
$2.10 $0.16 $4.17 $4.66 ($12.68) $1.82 $3.60 $5.13 $2.03 $3.26
Weighted Average Basic Shares Outstanding
277.72M 274.27M 271.40M 292.41M 310.57M 309.65M 307.70M 305.40M 308.50M 328.40M
Diluted Earnings per Share
$2.07 $0.16 $4.08 $4.55 ($12.68) $1.81 $3.56 $5.10 $2.02 $3.22
Weighted Average Diluted Shares Outstanding
277.72M 274.27M 271.40M 292.41M 310.57M 309.65M 307.70M 305.40M 308.50M 328.40M
Weighted Average Basic & Diluted Shares Outstanding
277.72M 274.27M 271.40M 292.41M 310.57M 309.65M 307.70M 305.40M 308.50M 328.40M
Cash Dividends to Common per Share
$0.69 $0.66 $0.63 $0.30 $0.38 $1.51 $1.51 - - -

Quarterly Income Statements for Macy's

This table shows Macy's' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 2/1/2025 11/2/2024 8/3/2024 5/4/2024 2/3/2024 10/28/2023 7/29/2023 4/29/2023 1/28/2023 10/29/2022
Net Income / (Loss) Attributable to Common Shareholders
342 28 150 62 -129 41 -22 155 477 108
Consolidated Net Income / (Loss)
342 28 150 62 -129 41 -22 155 477 108
Net Income / (Loss) Continuing Operations
342 28 150 62 -129 41 -22 155 477 108
Total Pre-Tax Income
435 35 195 98 -181 43 -30 211 596 125
Total Operating Income
498 64 222 125 -150 83 124 244 635 192
Total Gross Profit
3,015 2,039 2,158 2,054 3,220 2,133 2,104 2,185 3,093 2,263
Total Revenue
8,007 4,903 5,096 5,000 8,375 5,038 5,280 5,173 8,583 5,467
Operating Revenue
8,007 4,903 5,096 5,000 8,375 5,038 5,280 5,173 8,583 5,467
Total Cost of Revenue
4,992 2,864 2,938 2,946 5,155 2,905 3,176 2,988 5,490 3,204
Operating Cost of Revenue
4,992 2,864 2,938 2,946 5,155 2,905 3,176 2,988 5,490 3,204
Total Operating Expenses
2,517 1,975 1,936 1,929 3,370 2,050 1,980 1,941 2,458 2,071
Selling, General & Admin Expense
2,382 2,064 1,973 1,911 2,405 2,040 1,980 1,950 2,457 2,088
Restructuring Charge
176 -23 -1.00 19 1,006 15 4.00 2.00 16 15
Other Special Charges / (Income)
-41 -66 -36 -1.00 -41 -5.00 -4.00 -11 -15 -32
Total Other Income / (Expense), net
-63 -29 -27 -27 -31 -40 -154 -33 -39 -67
Interest & Investment Income
-21 -32 -31 -31 -31 -35 -32 -37 - -42
Other Income / (Expense), net
-42 4.00 4.00 4.00 - -5.00 - 4.00 -8.00 -25
Income Tax Expense
93 7.00 45 36 -52 2.00 -8.00 56 119 17
Basic Earnings per Share
$1.24 $0.10 $0.54 $0.22 ($0.48) $0.15 ($0.08) $0.57 $1.75 $0.40
Weighted Average Basic Shares Outstanding
277.72M 277.64M 277.37M 276.41M 274.27M 274.07M 273.63M 272.53M 271.40M 271.11M
Diluted Earnings per Share
$1.22 $0.10 $0.53 $0.22 ($0.47) $0.15 ($0.08) $0.56 $1.72 $0.39
Weighted Average Diluted Shares Outstanding
277.72M 277.64M 277.37M 276.41M 274.27M 274.07M 273.63M 272.53M 271.40M 271.11M
Weighted Average Basic & Diluted Shares Outstanding
277.72M 277.64M 277.37M 276.41M 274.27M 274.07M 273.63M 272.53M 271.40M 271.11M

Annual Cash Flow Statements for Macy's

This table details how cash moves in and out of Macy's' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 2/1/2025 2/3/2024 1/28/2023 1/29/2022 1/30/2021 2/1/2020 2/2/2019 2/3/2018 1/28/2017 1/30/2016
Net Change in Cash & Equivalents
273 172 -850 -39 1,023 -517 -265 179 132 -1,137
Net Cash From Operating Activities
1,278 1,305 1,615 2,712 649 1,608 1,735 1,976 1,801 1,984
Net Cash From Continuing Operating Activities
1,278 1,305 1,615 2,712 649 1,608 1,735 1,976 1,801 1,984
Net Income / (Loss) Continuing Operations
582 45 1,146 1,430 -3,944 564 1,098 1,555 619 1,070
Consolidated Net Income / (Loss)
582 45 1,146 1,430 -3,944 564 1,098 1,555 619 1,070
Depreciation Expense
881 897 857 874 959 981 962 991 1,058 1,061
Amortization Expense
11 10 11 70 18 4.00 -15 -45 -14 -14
Non-Cash Adjustments To Reconcile Net Income
133 1,151 62 124 3,681 319 -72 -160 429 141
Changes in Operating Assets and Liabilities, net
-329 -798 -461 214 -65 -260 -238 -365 -291 -274
Net Cash From Investing Activities
-592 -913 -1,169 -370 -325 -1,002 -456 -351 -243 -1,092
Net Cash From Continuing Investing Activities
-592 -913 -1,169 -370 -325 -1,002 -456 -351 -243 -1,092
Purchase of Property, Plant & Equipment
-882 -993 -1,295 -597 -466 -1,157 -932 -760 -912 -1,113
Sale of Property, Plant & Equipment
283 86 137 164 113 185 474 411 673 204
Other Investing Activities, net
7.00 -6.00 -11 63 28 -30 2.00 -2.00 -4.00 29
Net Cash From Financing Activities
-413 -220 -1,296 -2,381 699 -1,123 -1,544 -1,446 -1,426 -2,029
Net Cash From Continuing Financing Activities
-413 -220 -1,296 -2,381 699 -1,123 -1,544 -1,446 -1,426 -2,029
Repayment of Debt
-524 -964 -3,150 -2,860 -2,144 -600 -1,149 -988 -754 -156
Repurchase of Common Equity
-1.00 -38 -601 -500 -1.00 -1.00 0.00 -1.00 -316 -2,001
Payment of Dividends
-192 -181 -173 -90 -117 -466 -463 -461 -459 -456
Issuance of Debt
301 961 2,809 1,085 2,780 0.00 0.00 - 0.00 499
Other Financing Activities, net
3.00 2.00 -181 -23 181 -62 16 -15 61 -83
Cash Interest Paid
155 157 188 442 257 242 328 361 396 383
Cash Interest Received
40 38 9.00 1.00 5.00 20 25 12 4.00 2.00
Cash Income Taxes Paid
304 240 455 -171 98 229 345 496 352 635

Quarterly Cash Flow Statements for Macy's

This table details how cash moves in and out of Macy's' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 2/1/2025 11/2/2024 8/3/2024 5/4/2024 2/3/2024 10/28/2023 7/29/2023 4/29/2023 1/28/2023 10/29/2022
Net Change in Cash & Equivalents
992 -331 -230 -158 670 -74 -165 -259 536 26
Net Cash From Operating Activities
1,308 -167 8.00 129 1,147 -113 166 105 1,127 185
Net Cash From Continuing Operating Activities
1,308 -167 8.00 129 1,147 -113 166 105 1,127 185
Net Income / (Loss) Continuing Operations
342 28 150 62 -128 40 -22 155 478 107
Consolidated Net Income / (Loss)
342 28 150 62 -128 40 -22 155 478 107
Depreciation Expense
224 228 213 216 232 232 215 218 219 225
Amortization Expense
2.00 4.00 2.00 3.00 2.00 3.00 2.00 3.00 3.00 3.00
Non-Cash Adjustments To Reconcile Net Income
198 -76 -21 32 972 33 139 7.00 20 34
Changes in Operating Assets and Liabilities, net
542 -351 -336 -184 69 -421 -168 -278 407 -184
Net Cash From Investing Activities
-137 -82 -156 -217 -197 -185 -261 -270 -300 -354
Net Cash From Continuing Investing Activities
-137 -82 -156 -217 -197 -185 -261 -270 -300 -354
Purchase of Property, Plant & Equipment
-233 -217 -203 -229 -244 -185 -268 -296 -312 -401
Sale of Property, Plant & Equipment
96 136 47 4.00 50 4.00 7.00 25 15 49
Net Cash From Financing Activities
-179 -82 -82 -70 -280 224 -70 -94 -291 195
Net Cash From Continuing Financing Activities
-179 -82 -82 -70 -280 224 -70 -94 -291 195
Repayment of Debt
-211 -312 - -1.00 -810 -153 - -1.00 -1,102 -858
Repurchase of Common Equity
-1.00 - - 0.00 - - -3.00 -35 - -
Payment of Dividends
-48 -48 -48 -48 -46 -45 -45 -45 -43 -43
Issuance of Debt
125 - - - 650 - - - 918 1,041
Other Financing Activities, net
-44 102 -34 -21 -74 111 -22 -13 -64 55
Cash Interest Paid
18 58 20 59 19 56 22 60 20 60
Cash Interest Received
10 8.00 10 12 19 1.00 7.00 11 6.00 2.00
Cash Income Taxes Paid
97 4.00 191 12 23 2.00 209 6.00 99 51

Annual Balance Sheets for Macy's

This table presents Macy's' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 2/1/2025 2/3/2024 1/28/2023 1/29/2022 1/30/2021 2/1/2020 2/2/2019 2/3/2018 1/28/2017 1/30/2016
Total Assets
16,402 16,246 16,866 17,590 17,706 21,172 19,194 19,583 19,851 20,576
Total Current Assets
6,479 6,089 5,853 6,758 6,184 6,810 7,445 7,646 7,626 7,652
Cash & Equivalents
1,306 1,034 862 1,712 1,679 685 1,162 1,455 1,297 1,109
Note & Lease Receivable
303 293 300 - - - - - - -
Inventories, net
4,468 4,361 4,267 4,383 3,774 5,188 5,263 5,178 5,399 5,506
Prepaid Expenses
385 401 424 366 455 528 620 650 408 479
Current Deferred & Refundable Income Taxes
17 0.00 - - - - - - - -
Plant, Property, & Equipment, net
5,070 5,308 5,913 5,665 5,940 6,633 6,637 6,672 7,017 7,616
Total Noncurrent Assets
4,853 4,849 5,100 5,167 5,582 7,729 5,112 5,265 5,208 5,308
Goodwill
828 828 828 828 828 3,908 3,908 3,897 3,897 3,897
Intangible Assets
425 430 432 435 437 439 478 488 498 514
Other Noncurrent Operating Assets
3,600 3,591 3,840 3,904 4,317 3,382 726 880 813 897
Total Liabilities & Shareholders' Equity
16,402 16,246 16,866 17,590 17,706 21,172 19,194 19,583 19,851 20,576
Total Liabilities
11,850 12,211 12,784 13,969 15,153 14,795 12,758 13,850 15,529 16,323
Total Current Liabilities
4,524 4,532 4,861 5,416 5,357 5,750 5,232 5,179 5,647 5,728
Short-Term Debt
6.00 0.00 - - 452 539 43 22 309 642
Accounts Payable
1,893 1,913 2,053 2,222 1,978 1,682 5,021 4,861 4,986 4,859
Accrued Expenses
2,625 2,571 2,750 3,086 2,927 3,448 - - - -
Current Deferred & Payable Income Tax Liabilities
0.00 48 58 108 0.00 81 168 296 352 227
Total Noncurrent Liabilities
7,326 7,679 7,923 8,553 9,796 9,045 7,526 8,671 9,882 10,595
Long-Term Debt
2,773 2,998 2,996 3,295 4,407 3,621 4,708 5,861 6,562 6,995
Noncurrent Deferred & Payable Income Tax Liabilities
724 745 947 983 908 1,169 1,238 1,148 1,443 1,477
Other Noncurrent Operating Liabilities
3,829 3,936 3,980 4,275 1,296 1,337 1,580 1,662 1,877 2,123
Total Equity & Noncontrolling Interests
4,552 4,035 4,082 3,621 2,553 6,377 6,436 5,733 4,322 4,253
Total Preferred & Common Equity
4,552 4,035 4,082 3,621 2,553 6,377 6,436 5,745 4,323 4,250
Total Common Equity
4,552 4,035 4,082 3,621 2,553 6,377 6,436 5,745 4,323 4,250
Common Stock
303 355 470 520 574 624 655 679 620 624
Retained Earnings
6,499 6,088 6,268 5,268 3,928 7,989 8,050 7,246 6,088 6,334
Accumulated Other Comprehensive Income / (Loss)
-449 -496 -618 -622 -788 -995 -951 -724 -896 -1,043
Other Equity Adjustments
-1,801 -1,912 -2,038 -1,545 - - - - - -

Quarterly Balance Sheets for Macy's

This table presents Macy's' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 11/2/2024 8/3/2024 5/4/2024 10/28/2023 7/29/2023 4/29/2023 10/29/2022
Total Assets
17,293 15,833 16,449 18,126 16,304 16,868 18,230
Total Current Assets
7,246 5,707 6,262 7,085 5,271 5,855 7,348
Cash & Equivalents
315 646 876 364 438 603 326
Note & Lease Receivable
224 268 257 218 223 255 204
Inventories, net
6,257 4,378 4,687 6,025 4,129 4,607 6,403
Prepaid Expenses
416 403 442 390 411 390 415
Current Deferred & Refundable Income Taxes
34 12 - 88 70 - 0.00
Plant, Property, & Equipment, net
5,161 5,234 5,295 5,813 5,876 5,864 5,831
Total Noncurrent Assets
4,886 4,892 4,892 5,228 5,157 5,149 5,051
Goodwill
828 828 828 828 828 828 828
Intangible Assets
426 428 429 431 431 432 433
Other Noncurrent Operating Assets
3,632 3,636 3,635 3,969 3,898 3,889 3,790
Total Liabilities & Shareholders' Equity
17,293 15,833 16,449 18,126 16,304 16,868 18,230
Total Liabilities
13,146 11,530 12,263 14,027 12,094 12,698 14,755
Total Current Liabilities
5,773 3,867 4,550 6,074 4,184 4,782 6,743
Short-Term Debt
92 6.00 - 160 0.00 - 183
Accounts Payable
3,344 1,871 2,347 3,466 1,978 2,415 3,861
Accrued Expenses
2,337 1,990 2,088 2,448 2,206 2,233 2,678
Current Deferred & Payable Income Tax Liabilities
0.00 0.00 115 0.00 0.00 134 21
Total Noncurrent Liabilities
7,373 7,663 7,713 7,953 7,910 7,916 8,012
Long-Term Debt
2,773 2,993 2,998 2,997 2,997 2,996 2,996
Capital Lease Obligations
2,961 3,013 3,034 3,034 2,975 2,996 2,988
Noncurrent Deferred & Payable Income Tax Liabilities
712 725 749 925 933 916 884
Other Noncurrent Operating Liabilities
927 932 932 997 1,005 1,008 1,144
Total Equity & Noncontrolling Interests
4,147 4,303 4,186 4,099 4,210 4,170 3,475
Total Preferred & Common Equity
4,147 4,303 4,186 4,099 4,210 4,170 3,475
Total Common Equity
4,147 4,303 4,186 4,099 4,210 4,170 3,475
Common Stock
4,147 4,303 4,186 4,099 4,210 4,170 3,475

Annual Metrics And Ratios for Macy's

This table displays calculated financial ratios and metrics derived from Macy's' official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 2/1/2025 2/3/2024 1/28/2023 1/29/2022 1/30/2021 2/1/2020 2/2/2019 2/3/2018 1/28/2017 1/30/2016
Growth Metrics
- - - - - - - - - -
Revenue Growth
-3.60% -6.22% 0.20% 40.35% -28.56% 1.44% 0.13% -3.74% -4.32% -3.65%
EBITDA Growth
63.23% -57.25% -22.24% 192.39% -283.25% -26.86% -4.56% 16.44% -23.14% -19.45%
EBIT Growth
393.82% -89.34% -28.02% 151.44% -578.26% -44.17% -6.99% 36.75% -34.87% -27.18%
NOPAT Growth
120.12% -75.96% -27.23% 157.49% -516.84% -44.08% -29.71% 117.41% -32.36% -27.27%
Net Income Growth
1,193.33% -96.07% -19.86% 136.26% -799.29% -48.63% -29.39% 151.21% -42.15% -29.88%
EPS Growth
1,193.75% -96.08% -10.33% 135.88% -800.55% -49.16% -30.20% 152.48% -37.27% -23.70%
Operating Cash Flow Growth
-2.07% -19.20% -40.45% 317.87% -59.64% -7.32% -12.20% 9.72% -9.22% -26.76%
Free Cash Flow Firm Growth
25.44% 78.23% -94.59% 666.49% 136.09% -234.71% -10.14% -6.66% 83.76% -61.59%
Invested Capital Growth
0.43% -3.49% 19.45% -41.65% -30.16% 27.38% -1.34% 2.68% -8.21% 3.26%
Revenue Q/Q Growth
-1.57% -0.86% -2.69% 9.60% -8.88% 1.92% -0.87% 0.11% -0.86% -1.80%
EBITDA Q/Q Growth
42.59% -46.34% -13.20% 22.25% -4.13% -20.46% -5.92% 10.83% -4.32% -12.05%
EBIT Q/Q Growth
157.02% -84.21% -19.25% 37.12% -2.85% -35.59% -9.87% 21.88% -7.52% -17.35%
NOPAT Q/Q Growth
170.32% -64.71% -16.43% 46.70% -3.66% -33.59% -33.75% 102.31% -4.19% -16.75%
Net Income Q/Q Growth
240.35% -93.40% -18.84% 69.03% -4.81% -41.55% -35.41% 124.71% -9.24% -18.94%
EPS Q/Q Growth
245.00% -93.50% -14.11% 69.15% -4.53% -41.80% -35.97% 122.71% -4.27% -14.59%
Operating Cash Flow Q/Q Growth
14.41% 1.56% -31.54% 117.66% -61.37% 8.80% -13.51% 4.44% -10.58% -7.55%
Free Cash Flow Firm Q/Q Growth
27.24% 88.19% -79.68% 306.51% -19.17% -18.43% -10.01% -4.31% 16.32% -41.34%
Invested Capital Q/Q Growth
-37.62% -39.56% -33.28% -43.54% -4.58% -3.68% -4.00% 1.01% -8.67% -5.71%
Profitability Metrics
- - - - - - - - - -
Gross Margin
40.28% 40.40% 39.70% 41.12% 32.11% 40.11% 39.07% 39.13% 39.53% 39.08%
EBITDA Margin
7.70% 4.55% 9.97% 12.85% -19.52% 7.61% 10.56% 11.08% 9.16% 11.40%
Operating Margin
3.95% 1.26% 6.64% 9.25% -24.73% 3.83% 6.96% 7.47% 5.29% 7.53%
EBIT Margin
3.82% 0.75% 6.56% 9.13% -24.92% 3.72% 6.76% 7.28% 5.13% 7.53%
Profit (Net Income) Margin
2.53% 0.19% 4.50% 5.63% -21.79% 2.23% 4.40% 6.24% 2.39% 3.95%
Tax Burden Percent
76.28% 104.65% 77.59% 76.63% 82.34% 77.47% 77.32% 102.57% 64.15% 63.77%
Interest Burden Percent
86.80% 24.16% 88.44% 80.43% 106.21% 77.20% 84.07% 83.48% 72.67% 82.30%
Effective Tax Rate
23.72% -4.65% 22.41% 23.37% 0.00% 22.53% 22.68% -2.57% 35.85% 36.23%
Return on Invested Capital (ROIC)
11.53% 5.16% 22.95% 25.51% -28.89% 6.59% 13.32% 19.07% 8.51% 12.25%
ROIC Less NNEP Spread (ROIC-NNEP)
5.05% -8.02% 14.10% 16.17% -41.61% 2.84% 7.18% 11.93% 4.20% 8.28%
Return on Net Nonoperating Assets (RNNOA)
2.02% -4.05% 6.80% 20.82% -59.44% 2.21% 4.73% 11.86% 5.93% 9.97%
Return on Equity (ROE)
13.56% 1.11% 29.75% 46.32% -88.33% 8.80% 18.05% 30.93% 14.44% 22.22%
Cash Return on Invested Capital (CROIC)
11.10% 8.71% 5.23% 78.10% 6.64% -17.49% 14.66% 16.42% 17.07% 9.05%
Operating Return on Assets (OROA)
5.38% 1.08% 9.69% 13.15% -23.20% 4.67% 8.71% 9.21% 6.57% 9.73%
Return on Assets (ROA)
3.57% 0.27% 6.65% 8.10% -20.29% 2.79% 5.66% 7.89% 3.06% 5.11%
Return on Common Equity (ROCE)
13.56% 1.11% 29.75% 46.32% -88.33% 8.80% 18.06% 30.97% 14.43% 22.21%
Return on Equity Simple (ROE_SIMPLE)
12.79% 1.12% 28.07% 39.49% -154.48% 8.84% 17.06% 27.07% 14.32% 25.18%
Net Operating Profit after Tax (NOPAT)
693 315 1,310 1,801 -3,133 751 1,344 1,912 879 1,300
NOPAT Margin
3.01% 1.32% 5.15% 7.09% -17.31% 2.97% 5.38% 7.67% 3.39% 4.80%
Net Nonoperating Expense Percent (NNEP)
6.48% 13.18% 8.85% 9.33% 12.72% 3.76% 6.13% 7.14% 4.30% 3.97%
Return On Investment Capital (ROIC_SIMPLE)
9.46% 4.48% 18.52% - - - - - - -
Cost of Revenue to Revenue
59.72% 59.60% 60.30% 58.88% 67.89% 59.89% 60.93% 60.87% 60.47% 60.92%
SG&A Expenses to Revenue
36.21% 35.09% 33.25% 32.10% 37.39% 35.52% 36.20% 35.90% 35.73% 31.27%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
36.33% 39.14% 33.06% 31.86% 56.84% 36.28% 32.11% 31.65% 34.24% 31.55%
Earnings before Interest and Taxes (EBIT)
879 178 1,670 2,320 -4,510 943 1,689 1,816 1,328 2,039
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,771 1,085 2,538 3,264 -3,533 1,928 2,636 2,762 2,372 3,086
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
0.94 1.20 1.39 1.94 1.68 0.68 1.00 1.03 1.51 2.10
Price to Tangible Book Value (P/TBV)
1.29 1.74 2.01 2.98 3.33 2.14 3.14 4.34 0.00 0.00
Price to Revenue (P/Rev)
0.19 0.20 0.22 0.28 0.24 0.17 0.26 0.24 0.25 0.33
Price to Earnings (P/E)
7.33 107.55 4.96 4.91 0.00 7.70 5.81 3.77 10.40 8.34
Dividend Yield
4.52% 3.75% 3.00% 1.28% 10.94% 10.75% 7.21% 7.80% 7.00% 4.89%
Earnings Yield
13.64% 0.93% 20.16% 20.37% 0.00% 12.99% 17.21% 26.55% 9.62% 11.98%
Enterprise Value to Invested Capital (EV/IC)
0.95 1.13 1.26 1.65 1.19 0.84 1.00 1.02 1.22 1.44
Enterprise Value to Revenue (EV/Rev)
0.25 0.29 0.31 0.34 0.59 0.42 0.40 0.41 0.47 0.57
Enterprise Value to EBITDA (EV/EBITDA)
3.24 6.27 3.08 2.64 0.00 5.57 3.80 3.73 5.10 5.01
Enterprise Value to EBIT (EV/EBIT)
6.53 38.22 4.68 3.71 0.00 11.38 5.94 5.68 9.11 7.59
Enterprise Value to NOPAT (EV/NOPAT)
8.28 21.60 5.97 4.78 0.00 14.28 7.46 5.39 13.75 11.90
Enterprise Value to Operating Cash Flow (EV/OCF)
4.49 5.21 4.84 3.17 16.41 6.68 5.78 5.22 6.71 7.80
Enterprise Value to Free Cash Flow (EV/FCFF)
8.60 12.79 26.20 1.56 14.80 0.00 6.78 6.26 6.85 16.12
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.61 0.74 0.73 0.91 3.15 1.11 0.74 1.03 1.59 1.80
Long-Term Debt to Equity
0.61 0.74 0.73 0.91 2.97 1.03 0.73 1.02 1.52 1.64
Financial Leverage
0.40 0.50 0.48 1.29 1.43 0.78 0.66 0.99 1.41 1.20
Leverage Ratio
3.80 4.08 4.47 5.72 4.35 3.15 3.19 3.92 4.71 4.35
Compound Leverage Factor
3.30 0.99 3.96 4.60 4.62 2.43 2.68 3.27 3.43 3.58
Debt to Total Capital
37.91% 42.63% 42.33% 47.64% 75.91% 52.61% 42.47% 50.65% 61.39% 64.23%
Short-Term Debt to Total Capital
0.08% 0.00% 0.00% 0.00% 4.27% 4.01% 0.38% 0.19% 2.76% 5.40%
Long-Term Debt to Total Capital
37.83% 42.63% 42.33% 47.64% 71.64% 48.60% 42.08% 50.46% 58.63% 58.83%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.10% -0.01% 0.03%
Common Equity to Total Capital
62.09% 57.37% 57.67% 52.36% 24.09% 47.40% 57.53% 49.46% 38.62% 35.74%
Debt to EBITDA
1.57 2.76 1.18 1.01 -2.28 3.67 1.80 2.13 2.90 2.47
Net Debt to EBITDA
0.83 1.81 0.84 0.49 -1.80 3.32 1.36 1.60 2.35 2.12
Long-Term Debt to EBITDA
1.57 2.76 1.18 1.01 -2.15 3.39 1.79 2.12 2.77 2.27
Debt to NOPAT
4.01 9.52 2.29 1.83 -2.57 9.42 3.54 3.08 7.81 5.87
Net Debt to NOPAT
2.12 6.23 1.63 0.88 -2.03 8.51 2.67 2.32 6.34 5.02
Long-Term Debt to NOPAT
4.00 9.52 2.29 1.83 -2.42 8.70 3.50 3.07 7.46 5.38
Altman Z-Score
2.49 2.38 2.69 2.69 0.72 2.11 2.62 2.50 2.33 2.52
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.10% -0.13% 0.02% 0.03%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.43 1.34 1.20 1.25 1.15 1.18 1.42 1.48 1.35 1.34
Quick Ratio
0.36 0.29 0.24 0.37 0.36 0.19 0.30 0.35 0.32 0.29
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
667 532 298 5,515 720 -1,994 1,480 1,647 1,764 960
Operating Cash Flow to CapEx
213.36% 143.88% 139.46% 626.33% 183.85% 165.43% 378.82% 566.19% 753.56% 218.26%
Free Cash Flow to Firm to Interest Expense
667.37 0.00 9.63 27.71 2.53 -8.48 5.03 5.30 4.81 2.65
Operating Cash Flow to Interest Expense
1,278.00 0.00 52.10 13.63 2.29 6.84 5.90 6.35 4.91 5.47
Operating Cash Flow Less CapEx to Interest Expense
679.00 0.00 14.74 11.45 1.04 2.71 4.34 5.23 4.26 2.96
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
1.41 1.44 1.48 1.44 0.93 1.26 1.29 1.26 1.28 1.29
Accounts Receivable Turnover
0.00 0.00 0.00 88.65 52.84 62.62 65.45 56.36 47.98 55.15
Inventory Turnover
3.11 3.30 3.55 3.67 2.74 2.90 2.91 2.87 2.87 3.02
Fixed Asset Turnover
4.43 4.25 4.40 4.38 2.88 3.82 3.75 3.64 3.54 3.51
Accounts Payable Turnover
7.22 7.17 7.18 7.12 6.71 4.53 3.08 3.08 3.18 3.45
Days Sales Outstanding (DSO)
0.00 0.00 0.00 4.12 6.91 5.83 5.58 6.48 7.61 6.62
Days Inventory Outstanding (DIO)
117.27 110.70 102.86 99.54 133.12 125.72 125.24 127.15 127.04 120.84
Days Payable Outstanding (DPO)
50.55 50.89 50.84 51.25 54.37 80.63 118.53 118.38 114.69 105.79
Cash Conversion Cycle (CCC)
66.72 59.82 52.03 52.40 85.67 50.92 12.28 15.25 19.96 21.68
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
6,025 5,999 6,216 5,204 8,918 12,770 10,025 10,161 9,896 10,781
Invested Capital Turnover
3.83 3.91 4.46 3.60 1.67 2.22 2.47 2.49 2.51 2.55
Increase / (Decrease) in Invested Capital
26 -217 1,012 -3,714 -3,852 2,745 -136 265 -885 340
Enterprise Value (EV)
5,741 6,804 7,820 8,602 10,649 10,734 10,027 10,315 12,092 15,476
Market Capitalization
4,268 4,840 5,686 7,019 4,284 4,341 6,438 5,899 6,519 8,945
Book Value per Share
$16.40 $14.72 $15.06 $12.10 $8.22 $20.64 $20.93 $18.86 $14.14 $13.52
Tangible Book Value per Share
$11.88 $10.13 $10.41 $7.88 $4.15 $6.57 $6.67 $4.47 ($0.24) ($0.51)
Total Capital
7,331 7,033 7,078 6,916 10,597 13,455 11,187 11,616 11,193 11,890
Total Debt
2,779 2,998 2,996 3,295 8,044 7,078 4,751 5,883 6,871 7,637
Total Long-Term Debt
2,773 2,998 2,996 3,295 7,592 6,539 4,708 5,861 6,562 6,995
Net Debt
1,473 1,964 2,134 1,583 6,365 6,393 3,589 4,428 5,574 6,528
Capital Expenditures (CapEx)
599 907 1,158 433 353 972 458 349 239 909
Debt-free, Cash-free Net Working Capital (DFCFNWC)
655 523 130 -370 -400 914 1,094 1,034 991 1,457
Debt-free Net Working Capital (DFNWC)
1,961 1,557 992 1,342 1,279 1,599 2,256 2,489 2,288 2,566
Net Working Capital (NWC)
1,955 1,557 992 1,342 827 1,060 2,213 2,467 1,979 1,924
Net Nonoperating Expense (NNE)
111 270 164 371 812 187 246 357 260 230
Net Nonoperating Obligations (NNO)
1,473 1,964 2,134 1,583 6,365 6,393 3,589 4,428 5,574 6,528
Total Depreciation and Amortization (D&A)
892 907 868 944 977 985 947 946 1,044 1,047
Debt-free, Cash-free Net Working Capital to Revenue
2.85% 2.19% 0.51% -1.46% -2.21% 3.61% 4.38% 4.15% 3.83% 5.38%
Debt-free Net Working Capital to Revenue
8.52% 6.52% 3.90% 5.28% 7.07% 6.31% 9.03% 9.98% 8.83% 9.48%
Net Working Capital to Revenue
8.50% 6.52% 3.90% 5.28% 4.57% 4.18% 8.86% 9.89% 7.64% 7.11%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$2.10 $0.38 $4.28 $4.66 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding
277.72M 274.27M 271.40M 292.41M 0.00 0.00 0.00 0.00 0.00 0.00
Adjusted Diluted Earnings per Share
$2.07 $0.38 $4.19 $4.55 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding
277.72M 274.27M 271.40M 292.41M 0.00 0.00 0.00 0.00 0.00 0.00
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
277.72M 274.27M 271.40M 292.41M 0.00 0.00 0.00 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)
714 887 1,273 1,754 -669 900 1,148 1,054 1,053 1,349
Normalized NOPAT Margin
3.10% 3.72% 5.00% 6.91% -3.70% 3.55% 4.60% 4.23% 4.06% 4.98%
Pre Tax Income Margin
3.32% 0.18% 5.80% 7.35% -26.47% 2.87% 5.69% 6.08% 3.72% 6.20%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
879.00 0.00 53.87 11.66 -15.88 4.01 5.74 5.84 3.62 5.62
NOPAT to Interest Expense
693.37 0.00 42.27 9.05 -11.03 3.20 4.57 6.15 2.40 3.58
EBIT Less CapEx to Interest Expense
280.00 0.00 16.52 9.48 -17.12 -0.12 4.19 4.72 2.97 3.11
NOPAT Less CapEx to Interest Expense
94.37 0.00 4.92 6.87 -12.27 -0.94 3.01 5.03 1.75 1.08
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
32.99% 402.22% 15.10% 6.29% -2.97% 82.62% 42.17% 29.65% 74.15% 42.62%
Augmented Payout Ratio
33.16% 486.67% 67.54% 41.26% -2.99% 82.80% 42.17% 29.71% 125.20% 229.63%

Quarterly Metrics And Ratios for Macy's

This table displays calculated financial ratios and metrics derived from Macy's' official financial filings.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 2/1/2025 11/2/2024 8/3/2024 5/4/2024 2/3/2024 10/28/2023 7/29/2023 4/29/2023 1/28/2023 10/29/2022
Growth Metrics
- - - - - - - - - -
Revenue Growth
-4.39% -2.68% -3.48% -3.34% -2.42% -7.85% -9.50% -7.04% -8.62% -3.29%
EBITDA Growth
711.90% -4.15% 29.33% -25.80% -90.11% -20.76% -44.64% -30.83% -31.26% -51.11%
EBIT Growth
404.00% -12.82% 82.26% -47.98% -123.92% -53.29% -69.46% -47.23% -38.83% -68.61%
NOPAT Growth
472.89% -35.30% 96.74% -55.88% -120.66% -52.29% -71.21% -46.94% -33.82% -60.98%
Net Income Growth
365.12% -31.71% 781.82% -60.00% -127.04% -62.04% -108.00% -45.80% -35.80% -54.81%
EPS Growth
359.57% -33.33% 762.50% -60.71% -127.33% -61.54% -108.08% -42.86% -28.03% -48.68%
Operating Cash Flow Growth
14.04% -47.79% -95.18% 22.86% 1.77% -161.08% 201.82% -57.66% -39.76% 249.19%
Free Cash Flow Firm Growth
226.37% 160.13% 158.07% 139.49% 122.23% -893.66% -3,248.27% -224.38% -111.24% -87.93%
Invested Capital Growth
0.43% -2.70% -0.77% -2.27% -3.49% 6.55% 5.52% 10.76% 19.45% 1.07%
Revenue Q/Q Growth
63.31% -3.79% 1.92% -40.30% 66.24% -4.58% 2.07% -39.73% 57.00% -6.29%
EBITDA Q/Q Growth
127.33% -31.97% 26.72% 120.25% -73.16% -8.21% -27.29% -47.30% 114.94% -35.88%
EBIT Q/Q Growth
570.59% -69.91% 75.19% 269.74% -292.31% -37.10% -50.00% -62.87% 275.45% -58.87%
NOPAT Q/Q Growth
664.71% -70.02% 115.94% 256.91% -232.68% -8.83% -51.57% -66.75% 206.36% -44.97%
Net Income Q/Q Growth
1,121.43% -81.33% 141.94% 187.32% -414.63% 286.36% -114.19% -69.49% 341.67% -60.73%
EPS Q/Q Growth
1,120.00% -81.13% 140.91% 188.00% -413.33% 287.50% -114.29% -69.40% 341.03% -60.61%
Operating Cash Flow Q/Q Growth
883.23% -2,187.50% -93.80% -88.75% 1,115.04% -168.07% 58.10% -90.68% 509.19% 236.36%
Free Cash Flow Firm Q/Q Growth
14.51% 29.88% -16.99% 358.33% 121.10% -25.44% 43.56% -58.55% -853.18% 397.59%
Invested Capital Q/Q Growth
-37.62% -0.11% 3.50% 53.12% -39.56% 1.87% 1.94% 53.78% -33.28% 0.89%
Profitability Metrics
- - - - - - - - - -
Gross Margin
37.65% 41.59% 42.35% 41.08% 38.45% 42.34% 39.85% 42.24% 36.04% 41.39%
EBITDA Margin
8.52% 6.12% 8.65% 6.96% 1.00% 6.21% 6.46% 9.07% 9.89% 7.23%
Operating Margin
6.22% 1.31% 4.36% 2.50% -1.79% 1.65% 2.35% 4.72% 7.40% 3.51%
EBIT Margin
5.70% 1.39% 4.43% 2.58% -1.79% 1.55% 2.35% 4.79% 7.31% 3.05%
Profit (Net Income) Margin
4.27% 0.57% 2.94% 1.24% -1.54% 0.81% -0.42% 3.00% 5.56% 1.98%
Tax Burden Percent
78.62% 80.00% 76.92% 63.27% 71.27% 95.35% 73.33% 73.46% 80.03% 86.40%
Interest Burden Percent
95.39% 51.47% 86.28% 75.97% 120.67% 55.13% -24.19% 85.08% 95.06% 74.85%
Effective Tax Rate
21.38% 20.00% 23.08% 36.73% 0.00% 4.65% 0.00% 26.54% 19.97% 13.60%
Return on Invested Capital (ROIC)
18.71% 2.49% 8.12% 3.97% -4.90% 3.93% 4.25% 9.55% 26.39% 8.56%
ROIC Less NNEP Spread (ROIC-NNEP)
15.83% 2.08% 7.74% 3.64% -6.07% 3.28% 2.31% 9.10% 24.71% 7.60%
Return on Net Nonoperating Assets (RNNOA)
6.34% 2.86% 9.90% 4.60% -3.06% 5.05% 3.35% 13.12% 11.92% 14.13%
Return on Equity (ROE)
25.05% 5.36% 18.02% 8.56% -7.96% 8.98% 7.60% 22.66% 38.31% 22.69%
Cash Return on Invested Capital (CROIC)
11.10% 5.36% 3.67% 5.33% 8.71% 2.94% 4.97% 2.78% 5.23% 15.85%
Operating Return on Assets (OROA)
8.03% 1.83% 6.49% 3.67% -2.58% 2.05% 3.53% 7.10% 10.79% 4.38%
Return on Assets (ROA)
6.02% 0.75% 4.31% 1.76% -2.22% 1.08% -0.63% 4.44% 8.21% 2.83%
Return on Common Equity (ROCE)
25.05% 5.36% 18.02% 8.56% -7.96% 8.98% 7.60% 22.66% 38.31% 22.69%
Return on Equity Simple (ROE_SIMPLE)
0.00% 4.12% 4.28% 0.29% 0.00% 16.64% 17.79% 25.08% 0.00% 40.63%
Net Operating Profit after Tax (NOPAT)
392 51 171 79 -105 79 87 179 508 166
NOPAT Margin
4.89% 1.04% 3.35% 1.58% -1.25% 1.57% 1.64% 3.46% 5.92% 3.03%
Net Nonoperating Expense Percent (NNEP)
2.88% 0.41% 0.38% 0.32% 1.17% 0.65% 1.94% 0.45% 1.68% 0.96%
Return On Investment Capital (ROIC_SIMPLE)
5.34% 0.51% - - -1.49% 0.77% - - 7.18% -
Cost of Revenue to Revenue
62.35% 58.41% 57.65% 58.92% 61.55% 57.66% 60.15% 57.76% 63.96% 58.61%
SG&A Expenses to Revenue
29.75% 42.10% 38.72% 38.22% 28.72% 40.49% 37.50% 37.70% 28.63% 38.19%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
31.44% 40.28% 37.99% 38.58% 40.24% 40.69% 37.50% 37.52% 28.64% 37.88%
Earnings before Interest and Taxes (EBIT)
456 68 226 129 -150 78 124 248 627 167
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
682 300 441 348 84 313 341 469 849 395
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
0.94 1.02 1.02 1.28 1.20 0.75 1.01 1.02 1.39 1.56
Price to Tangible Book Value (P/TBV)
1.29 1.46 1.45 1.83 1.74 1.08 1.44 1.46 2.01 2.45
Price to Revenue (P/Rev)
0.19 0.18 0.19 0.23 0.20 0.13 0.17 0.17 0.22 0.21
Price to Earnings (P/E)
7.33 24.77 23.93 446.15 107.55 4.51 5.68 4.07 4.96 3.84
Dividend Yield
4.52% 4.50% 4.26% 3.43% 3.75% 5.81% 4.13% 4.07% 3.00% 3.11%
Earnings Yield
13.64% 4.04% 4.18% 0.22% 0.93% 22.16% 17.59% 24.59% 20.16% 26.06%
Enterprise Value to Invested Capital (EV/IC)
0.95 1.01 1.01 1.13 1.13 0.90 1.00 1.01 1.26 1.21
Enterprise Value to Revenue (EV/Rev)
0.25 0.42 0.42 0.44 0.29 0.37 0.40 0.38 0.31 0.43
Enterprise Value to EBITDA (EV/EBITDA)
3.24 7.85 7.73 10.06 6.27 4.40 4.61 4.07 3.08 3.85
Enterprise Value to EBIT (EV/EBIT)
6.53 28.50 27.06 75.07 38.22 7.90 7.92 6.48 4.68 5.44
Enterprise Value to NOPAT (EV/NOPAT)
8.28 38.00 34.71 36.63 21.60 9.97 9.97 8.16 5.97 7.18
Enterprise Value to Operating Cash Flow (EV/OCF)
4.49 8.73 8.34 7.91 5.21 6.93 6.19 6.55 4.84 4.77
Enterprise Value to Free Cash Flow (EV/FCFF)
8.60 18.58 27.41 20.86 12.79 31.50 20.76 38.09 26.20 7.66
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.61 1.40 1.40 1.44 0.74 1.51 1.42 1.44 0.73 1.77
Long-Term Debt to Equity
0.61 1.38 1.40 1.44 0.74 1.47 1.42 1.44 0.73 1.72
Financial Leverage
0.40 1.38 1.28 1.26 0.50 1.54 1.45 1.44 0.48 1.86
Leverage Ratio
3.80 4.30 3.78 3.99 4.08 4.80 4.22 4.54 4.47 5.63
Compound Leverage Factor
3.63 2.21 3.26 3.03 4.92 2.65 -1.02 3.87 4.25 4.22
Debt to Total Capital
37.91% 58.42% 58.28% 59.03% 42.63% 60.17% 58.65% 58.96% 42.33% 63.96%
Short-Term Debt to Total Capital
0.08% 0.92% 0.06% 0.00% 0.00% 1.55% 0.00% 0.00% 0.00% 1.90%
Long-Term Debt to Total Capital
37.83% 57.50% 58.23% 59.03% 42.63% 58.61% 58.65% 58.96% 42.33% 62.06%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
62.09% 41.58% 41.72% 40.97% 57.37% 39.83% 41.35% 41.04% 57.67% 36.04%
Debt to EBITDA
1.57 4.69 4.76 5.77 2.76 3.06 2.81 2.53 1.18 2.11
Net Debt to EBITDA
0.83 4.44 4.25 4.93 1.81 2.88 2.61 2.27 0.84 2.00
Long-Term Debt to EBITDA
1.57 4.62 4.75 5.77 2.76 2.98 2.81 2.53 1.18 2.05
Debt to NOPAT
4.01 22.71 21.36 21.02 9.52 6.94 6.08 5.07 2.29 3.93
Net Debt to NOPAT
2.12 21.49 19.07 17.97 6.23 6.53 5.64 4.56 1.63 3.72
Long-Term Debt to NOPAT
4.00 22.35 21.34 21.02 9.52 6.76 6.08 5.07 2.29 3.82
Altman Z-Score
2.41 1.66 1.90 1.85 2.32 1.54 1.82 1.81 2.49 1.72
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.43 1.26 1.48 1.38 1.34 1.17 1.26 1.22 1.20 1.09
Quick Ratio
0.36 0.09 0.24 0.25 0.29 0.10 0.16 0.18 0.24 0.08
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
366 319 246 296 112 -531 -423 -750 -504 67
Operating Cash Flow to CapEx
954.74% -206.17% 5.13% 57.33% 591.24% -62.43% 63.60% 38.75% 379.46% 52.56%
Free Cash Flow to Firm to Interest Expense
0.00 319.20 0.00 0.00 0.00 0.00 -3.47 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 -167.00 0.00 0.00 0.00 0.00 1.36 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 -248.00 0.00 0.00 0.00 0.00 -0.78 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
1.41 1.32 1.46 1.42 1.44 1.32 1.50 1.48 1.48 1.43
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover
3.11 2.25 3.26 3.03 3.30 2.34 3.39 3.15 3.55 2.45
Fixed Asset Turnover
4.43 4.26 4.23 4.25 4.25 4.14 4.25 4.37 4.40 4.58
Accounts Payable Turnover
7.22 4.06 7.20 5.92 7.17 3.96 6.94 5.71 7.18 4.01
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)
117.27 162.17 111.99 120.29 110.70 156.23 107.64 115.86 102.86 149.00
Days Payable Outstanding (DPO)
50.55 89.92 50.67 61.63 50.89 92.10 52.57 63.97 50.84 90.95
Cash Conversion Cycle (CCC)
66.72 72.25 61.32 58.65 59.82 64.12 55.07 51.89 52.03 58.05
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
6,025 9,658 9,669 9,342 5,999 9,926 9,744 9,559 6,216 9,316
Invested Capital Turnover
3.83 2.39 2.42 2.51 3.91 2.50 2.58 2.76 4.46 2.82
Increase / (Decrease) in Invested Capital
26 -268 -75 -217 -217 610 510 929 1,012 99
Enterprise Value (EV)
5,741 9,746 9,769 10,510 6,804 8,904 9,791 9,643 7,820 11,259
Market Capitalization
4,268 4,235 4,403 5,354 4,840 3,077 4,257 4,254 5,686 5,418
Book Value per Share
$16.40 $14.95 $15.57 $15.26 $14.72 $14.98 $15.45 $15.37 $15.06 $12.82
Tangible Book Value per Share
$11.88 $10.43 $11.02 $10.68 $10.13 $10.38 $10.83 $10.72 $10.41 $8.17
Total Capital
7,331 9,973 10,315 10,218 7,033 10,290 10,182 10,162 7,078 9,642
Total Debt
2,779 5,826 6,012 6,032 2,998 6,191 5,972 5,992 2,996 6,167
Total Long-Term Debt
2,773 5,734 6,006 6,032 2,998 6,031 5,972 5,992 2,996 5,984
Net Debt
1,473 5,511 5,366 5,156 1,964 5,827 5,534 5,389 2,134 5,841
Capital Expenditures (CapEx)
137 81 156 225 194 181 261 271 297 352
Debt-free, Cash-free Net Working Capital (DFCFNWC)
655 1,250 1,200 836 523 807 649 470 130 462
Debt-free Net Working Capital (DFNWC)
1,961 1,565 1,846 1,712 1,557 1,171 1,087 1,073 992 788
Net Working Capital (NWC)
1,955 1,473 1,840 1,712 1,557 1,011 1,087 1,073 992 605
Net Nonoperating Expense (NNE)
50 23 21 17 24 38 109 24 31 58
Net Nonoperating Obligations (NNO)
1,473 5,511 5,366 5,156 1,964 5,827 5,534 5,389 2,134 5,841
Total Depreciation and Amortization (D&A)
226 232 215 219 234 235 217 221 222 228
Debt-free, Cash-free Net Working Capital to Revenue
2.85% 5.35% 5.10% 3.53% 2.19% 3.35% 2.65% 1.88% 0.51% 1.77%
Debt-free Net Working Capital to Revenue
8.52% 6.70% 7.85% 7.23% 6.52% 4.86% 4.44% 4.28% 3.90% 3.01%
Net Working Capital to Revenue
8.50% 6.30% 7.83% 7.23% 6.52% 4.20% 4.44% 4.28% 3.90% 2.31%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$1.24 $0.10 $0.54 $0.22 ($0.48) $0.16 ($0.08) $0.57 $1.75 $0.40
Adjusted Weighted Average Basic Shares Outstanding
277.72M 277.64M 277.37M 276.41M 274.27M 274.07M 273.63M 272.53M 271.40M 271.11M
Adjusted Diluted Earnings per Share
$1.22 $0.10 $0.53 $0.22 ($0.47) $0.15 ($0.08) $0.56 $1.72 $0.39
Adjusted Weighted Average Diluted Shares Outstanding
277.72M 277.64M 277.37M 276.41M 274.27M 274.07M 273.63M 272.53M 271.40M 271.11M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
277.72M 277.64M 277.37M 276.41M 274.27M 274.07M 273.63M 272.53M 271.40M 271.11M
Normalized Net Operating Profit after Tax (NOPAT)
498 -20 142 90 571 89 87 173 509 151
Normalized NOPAT Margin
6.22% -0.41% 2.79% 1.81% 6.81% 1.76% 1.64% 3.34% 5.93% 2.77%
Pre Tax Income Margin
5.43% 0.71% 3.83% 1.96% -2.16% 0.85% -0.57% 4.08% 6.94% 2.29%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
0.00 68.00 0.00 0.00 0.00 0.00 1.02 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 51.20 0.00 0.00 0.00 0.00 0.71 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 -13.00 0.00 0.00 0.00 0.00 -1.12 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 -29.80 0.00 0.00 0.00 0.00 -1.43 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
32.99% 111.11% 101.63% 1,533.33% 402.22% 26.10% 23.50% 16.54% 15.10% 12.32%
Augmented Payout Ratio
33.16% 111.11% 101.63% 1,558.33% 486.67% 31.67% 28.57% 21.51% 67.54% 69.48%

Frequently Asked Questions About Macy's' Financials

When does Macy's's financial year end?

According to the most recent income statement we have on file, Macy's' fiscal year ends in February. Their fiscal year 2025 ended on February 1, 2025.

How has Macy's' net income changed over the last 9 years?

Macy's' net income appears to be on a downward trend, with a most recent value of $582 million in 2024, falling from $1.07 billion in 2015. The previous period was $45 million in 2023. View Macy's' forecast to see where analysts expect Macy's to go next.

What is Macy's's operating income?
Macy's's total operating income in 2024 was $909 million, based on the following breakdown:
  • Total Gross Profit: $9.27 billion
  • Total Operating Expenses: $8.36 billion
How has Macy's revenue changed over the last 9 years?

Over the last 9 years, Macy's' total revenue changed from $27.08 billion in 2015 to $23.01 billion in 2024, a change of -15.0%.

How much debt does Macy's have?

Macy's' total liabilities were at $11.85 billion at the end of 2024, a 3.0% decrease from 2023, and a 27.4% decrease since 2015.

How much cash does Macy's have?

In the past 9 years, Macy's' cash and equivalents has ranged from $685 million in 2019 to $1.71 billion in 2021, and is currently $1.31 billion as of their latest financial filing in 2024.

How has Macy's' book value per share changed over the last 9 years?

Over the last 9 years, Macy's' book value per share changed from 13.52 in 2015 to 16.40 in 2024, a change of 21.3%.



This page (NYSE:M) was last updated on 5/29/2025 by MarketBeat.com Staff
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