InsiderClue
Stocks · Consumer discretionary · Retail-Department Stores

Macy's, Inc.

M Clue Score36
United States Fiscal year ends February CIK 0000794367
$22.67 -0.53% Close, 9 Oct 2026
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Price $22.67 +2.07% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue25.91Operating income1.37Net income0.63EPS, diluted2.02Fiscal year 2018Revenue24.94 −3.7%Operating income1.86Net income1.57 +149.8%EPS, diluted5.10 +152.5%Fiscal year 2019Revenue24.97 +0.1%Operating income1.74Net income1.11 −29.2%EPS, diluted3.56 −30.2%Fiscal year 2020Revenue24.56 −1.6%Operating income0.97Net income0.56 −49.1%EPS, diluted1.81 −49.2%Fiscal year 2021Revenue17.35 −29.4%Operating income−4.48Net income−3.94 −799.3%EPS, diluted−12.68 −800.6%Fiscal year 2022Revenue24.46 +41.0%Operating income2.35Net income1.43EPS, diluted4.55Fiscal year 2023Revenue24.44 −0.1%Operating income1.69Net income1.15 −19.9%EPS, diluted4.08 −10.3%Fiscal year 2024Revenue23.09 −5.5%Operating income0.30Net income0.05 −96.1%EPS, diluted0.16 −96.1%Fiscal year 2025Revenue22.29 −3.5%Operating income0.91Net income0.58 +1,193.3%EPS, diluted2.07 +1,193.7%Fiscal year 2026Revenue21.76 −2.4%Operating income1.03Net income0.64 +10.3%EPS, diluted2.32 +12.1%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 25.91 24.94 24.97 24.56 17.35 24.46 24.44 23.09 22.29 21.76
Growth −3.7% +0.1% −1.6% −29.4% +41.0% −0.1% −5.5% −3.5% −2.4%
Operating income 1.37 1.86 1.74 0.97 −4.48 2.35 1.69 0.30 0.91 1.03
Net income 0.63 1.57 1.11 0.56 −3.94 1.43 1.15 0.05 0.58 0.64
Growth +149.8% −29.2% −49.1% −799.3% −19.9% −96.1% +1,193.3% +10.3%
EPS, diluted 2.02 5.10 3.56 1.81 −12.68 4.55 4.08 0.16 2.07 2.32
Growth +152.5% −30.2% −49.2% −800.6% −10.3% −96.1% +1,193.7% +12.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin39.2%Operating margin5.3%Net margin2.4%Free cash flow margin4.7%Fiscal year 2018Gross margin38.8%Operating margin7.5%Net margin6.3%Free cash flow margin6.0%Fiscal year 2019Operating margin7.0%Net margin4.4%Free cash flow margin4.3%Fiscal year 2020Operating margin3.9%Net margin2.3%Free cash flow margin2.9%Fiscal year 2021Operating margin−25.8%Net margin−22.7%Free cash flow margin1.8%Fiscal year 2022Operating margin9.6%Net margin5.8%Free cash flow margin9.6%Fiscal year 2023Operating margin6.9%Net margin4.7%Free cash flow margin3.0%Fiscal year 2024Operating margin1.3%Net margin0.2%Free cash flow margin2.9%Fiscal year 2025Operating margin4.1%Net margin2.6%Free cash flow margin3.4%Fiscal year 2026Operating margin4.7%Net margin2.9%Free cash flow margin4.9%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 39.2% 38.8% n/a n/a n/a n/a n/a n/a n/a n/a
Operating margin 5.3% 7.5% 7.0% 3.9% −25.8% 9.6% 6.9% 1.3% 4.1% 4.7%
Net margin 2.4% 6.3% 4.4% 2.3% −22.7% 5.8% 4.7% 0.2% 2.6% 2.9%
Free cash flow margin 4.7% 6.0% 4.3% 2.9% 1.8% 9.6% 3.0% 2.9% 3.4% 4.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow1.80Capital expenditure−0.60Free cash flow1.21Buybacks−0.32Dividends paid−0.46Fiscal year 2018Operating cash flow1.98Capital expenditure−0.49Free cash flow1.49 +23.6%Buybacks−0.00Dividends paid−0.46Fiscal year 2019Operating cash flow1.74Capital expenditure−0.66Free cash flow1.08 −27.6%Buybacks0.00Dividends paid−0.46Fiscal year 2020Operating cash flow1.61Capital expenditure−0.90Free cash flow0.71 −34.5%Buybacks−0.00Dividends paid−0.47Fiscal year 2021Operating cash flow0.65Capital expenditure−0.34Free cash flow0.31 −55.9%Buybacks−0.00Dividends paid−0.12Fiscal year 2022Operating cash flow2.71Capital expenditure−0.35Free cash flow2.36 +658.2%Buybacks−0.50Dividends paid−0.09Fiscal year 2023Operating cash flow1.62Capital expenditure−0.89Free cash flow0.73 −69.2%Buybacks−0.60Dividends paid−0.17Fiscal year 2024Operating cash flow1.31Capital expenditure−0.63Free cash flow0.67 −7.3%Buybacks−0.04Dividends paid−0.18Fiscal year 2025Operating cash flow1.28Capital expenditure−0.52Free cash flow0.76 +12.8%Buybacks−0.00Dividends paid−0.19Fiscal year 2026Operating cash flow1.43Capital expenditure−0.37Free cash flow1.06 +39.1%Buybacks−0.25Dividends paid−0.20
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 1.80 1.98 1.74 1.61 0.65 2.71 1.62 1.31 1.28 1.43
Capital expenditure −0.60 −0.49 −0.66 −0.90 −0.34 −0.35 −0.89 −0.63 −0.52 −0.37
Free cash flow 1.21 1.49 1.08 0.71 0.31 2.36 0.73 0.67 0.76 1.06
Growth +23.6% −27.6% −34.5% −55.9% +658.2% −69.2% −7.3% +12.8% +39.1%
Buybacks −0.32 −0.00 0.00 −0.00 −0.00 −0.50 −0.60 −0.04 −0.00 −0.25
Dividends paid −0.46 −0.46 −0.46 −0.47 −0.12 −0.09 −0.17 −0.18 −0.19 −0.20

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash1.30Total debt6.44Net cash (debt)−5.14Shareholders’ equity4.32Debt to equity1.49Fiscal year 2018Cash1.46Total debt5.75Net cash (debt)−4.30Shareholders’ equity5.75Debt to equity1.00Fiscal year 2019Cash1.16Total debt4.41Net cash (debt)−3.25Shareholders’ equity6.44Debt to equity0.68Fiscal year 2020Cash0.69Total debt3.70Net cash (debt)−3.02Shareholders’ equity6.38Debt to equity0.58Fiscal year 2021Cash1.68Total debt4.32Net cash (debt)−2.64Shareholders’ equity2.55Debt to equity1.69Fiscal year 2022Cash1.71Total debt3.30Net cash (debt)−1.58Shareholders’ equity3.62Debt to equity0.91Fiscal year 2023Cash0.86Total debt3.00Net cash (debt)−2.13Shareholders’ equity4.08Debt to equity0.73Fiscal year 2024Cash1.03Total debt3.00Net cash (debt)−1.96Shareholders’ equity4.04Debt to equity0.74Fiscal year 2025Cash1.31Total debt2.78Net cash (debt)−1.47Shareholders’ equity4.55Debt to equity0.61Fiscal year 2026Cash1.25Total debt2.43Net cash (debt)−1.19Shareholders’ equity4.86Debt to equity0.50
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 1.30 1.46 1.16 0.69 1.68 1.71 0.86 1.03 1.31 1.25
Total debt 6.44 5.75 4.41 3.70 4.32 3.30 3.00 3.00 2.78 2.43
Net cash (debt) −5.14 −4.30 −3.25 −3.02 −2.64 −1.58 −2.13 −1.96 −1.47 −1.19
Shareholders’ equity 4.32 5.75 6.44 6.38 2.55 3.62 4.08 4.04 4.55 4.86
Debt to equity 1.49 1.00 0.68 0.58 1.69 0.91 0.73 0.74 0.61 0.50

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Balance sheet

In billions of USD, except per-share figures; shares in millions. Fiscal years ending January, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 28 Jan 2017 FY2018 3 Feb 2018 FY2019 2 Feb 2019 FY2020 1 Feb 2020 FY2021 30 Jan 2021 FY2022 29 Jan 2022 FY2023 28 Jan 2023 FY2024 3 Feb 2024 FY2025 1 Feb 2025 FY2026 31 Jan 2026
Assets
1.30 1.46 1.16 0.69 1.68 1.71 0.86 1.03 1.31 1.25
5.40 5.18 5.26 5.19 3.77 4.38 4.27 4.36 4.47 4.41
7.02 6.67 6.64 6.63 5.94 5.67 5.91 5.31 5.07 4.74
3.90 3.90 3.91 3.91 0.83 0.83 0.83 0.83 0.83 0.83
19.85 19.58 19.19 21.17 17.71 17.59 16.87 16.25 16.40 16.24
Growth −1.4% −2.0% +10.3% −16.4% −0.7% −4.1% −3.7% +1.0% −1.0%
Liabilities
6.44 5.75 4.41 3.70 4.32 3.30 3.00 3.00 2.78 2.43
calc 6.44 5.75 4.41 3.70 4.32 3.30 3.00 3.00 2.78 2.43
Equity
6.09 7.25 8.05 7.99 3.93 5.27 6.27 6.09 6.50 6.94
4.32 5.75 6.44 6.38 2.55 3.62 4.08 4.04 4.55 4.86
Growth +32.9% +12.0% −0.9% −60.0% +41.8% +12.7% −1.2% +12.8% +6.8%
Per share and net cash
calc −5.14 −4.30 −3.25 −3.02 −2.64 −1.58 −2.13 −1.96 −1.47 −1.19
304.1 304.8 307.5 309.0 310.5 292.4 271.4 274.2 277.7 263.0
calc 14.22 18.85 20.93 20.64 8.22 12.39 15.04 14.71 16.39 18.48

Lines marked calc are worked out here from filed figures; point at one for how.