Macy's, Inc.

Consumer Discretionary
Department/Specialty Retail Stores
www.macysinc.com

Earnings Score
Moat Score
Safety Score

Market Cap $3.18B
PE 5
Debt $2.78B
Cash $1.31B
EV $4.65B
FCF $760.00M

Earnings

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Sales & Net Margins

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Earnings	$582.00M
EBIT	$909.00M
ROE	13%
ROA	6%
FCF	$760.00M
Equity	$4.55B
Growth Stability	-370%
PE	5.47
PEG	-0.11
PB	0.7
P/FCF	4.19
P/S	0.14
Price/Cash	0.41
Debt/Equity	0.61
Debt/FCF	3.66
Net Margins	3%
Gross Margins	40%
Op. Margins	4%
Earnings CAGR	-10%
Sales Growth YoY	-4%
Sales Growth QoQ	63%
Sales CAGR	-1%
FCF CAGR	-7%
Equity CAGR	-2%
Earnings Stability	0.11
Earnings Growth YoY	-589%
Earnings Growth QoQ	1K%
Earnings CAGR 5Y	-48%

Sales CAGR 5Y	5%
FCF CAGR 5Y	-4%
Equity CAGR 5Y	15%
Earnings CAGR 3Y	-5%
Sales CAGR 3Y	-5%
FCF CAGR 3Y	-29%
Equity CAGR 3Y	10%
Market Cap	$3.18B
Revenue	$23.01B
Dividend Yield	6%
Payout Ratio	33%
Assets	$16.40B
Total Debt	$2.78B
Cash	$1.31B
Shares Outstanding	277.14M
EV	4.65B
Earnings Score	5%
Moat Score	75%
Safety Score	58%
Final Score	46%
Working Capital	1.96B
Current Ratio	1.43
Gross Profit	$9.27B
Shares Growth 3y	0%
Equity Growth QoQ	10%
Equity Growth YoY	10%

Assets & ROA

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Stockholders Equity & ROE

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Macys is Americas store for life. The largest retail brand of Macys Inc. NYSE:M delivers quality fashion at affordable prices to customers at approximately 640 locations in 43 states the District of Columbia Puerto Rico and Guam as well as to customers in more than 100 international destinations through leading e-commerce site macys.com. Macys inspires fashion exploration and discovery through the most desired family of exclusive brands for her for him for the home and via our dynamic mobile and social platforms. We know the power of celebration demonstrated through decades of memorable experiences created during Macys 4th of July Fireworks and Macys Thanksgiving Day Parade as well as spectacular fashion shows culinary events flower shows and celebrity appearances. Macys flagship stores including New York Citys Herald Square are internationally renowned and preeminent destinations for tourists.

SEC Filings

Direct access to Macy's, Inc. (M) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-K Feb 01
2024
- 10-Q Nov 02
- 10-Q Aug 03
- 10-Q May 04
- 10-K Feb 03
2023
- 10-Q Oct 28
- 10-Q Jul 29
- 10-Q Apr 29
- 10-K Jan 28

Sector Comparison

How does Macy's, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Macy's, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -10%

Stability 11%

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Macy's, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Macy's, Inc..

Years

Calculation mode

= $4.8B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$760M	$706M	$656M	$610M	$567M	$527M	$490M	$455M	$423M	$393M	$365M	$3.7B
DCF		$642M	$542M	$458M	$387M	$327M	$276M	$234M	$197M	$167M	$141M	$1.4B
Value	$4.8B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	01/2016	01/2017	02/2018	02/2019	01/2020	01/2021	01/2022	01/2023	02/2024	01/2025	TTM
Net Margins	4%	2%	6%	4%	2%	-23%	6%	5%	0%	3%	3%
ROA	-	7%	9%	9%	5%	-25%	13%	10%	2%	6%	6%
ROE	-	14%	27%	17%	9%	-154%	39%	29%	3%	13%	13%

Bad Net Margins (2.53%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	01/2016	01/2017	02/2018	02/2019	01/2020	01/2021	01/2022	01/2023	02/2024	01/2025	TTM
Debt over FCF	-	5.7	4.04	4.41	6.67	15.62	1.4	4.14	4.46	3.66	3.66
Debt over Equity	1.8	1.59	1.04	0.74	0.67	1.9	0.91	0.74	0.73	0.61	0.61
Growth Stability	-	-	-	100%	52%	-370%	-	-	-	64%	-370%

Neutral Debt/FCF ratio (3.66)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.61)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-370%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	01/2016	01/2017	02/2018	02/2019	01/2020	01/2021	01/2022	01/2023	02/2024	01/2025	CAGR 5Y
Revenue YoY growth	-	-4%	-4%	0%	-2%	-29%	46%	0%	-6%	-4%	5%
Earnings YoY growth	-	-43%	151%	-29%	-49%	-799%	-136%	-18%	-91%	454%	-48%
Equity YoY growth	-	2%	31%	13%	-1%	-60%	42%	13%	1%	10%	15%
FCF YoY growth	-	12%	21%	-26%	-41%	-51%	658%	-69%	-7%	13%	-4%