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

Ratios

Percentages worked out from the filed figures; debt to equity in times. 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
Margins
39.2% 38.8% n/a n/a n/a n/a n/a n/a n/a n/a
5.3% 7.5% 7.0% 3.9% −25.8% 9.6% 6.9% 1.3% 4.1% 4.7%
3.7% 6.1% 5.7% 3.0% −27.6% 7.6% 6.0% 0.2% 3.4% 3.9%
2.4% 6.3% 4.4% 2.3% −22.7% 5.8% 4.7% 0.2% 2.6% 2.9%
4.7% 6.0% 4.3% 2.9% 1.8% 9.6% 3.0% 2.9% 3.4% 4.9%
Spending
35.7% 35.9% 36.2% 36.6% 39.0% 33.3% 34.6% 36.3% 37.4% 37.9%
2.3% 2.0% 2.6% 3.7% 1.9% 1.4% 3.6% 2.7% 2.3% 1.7%
35.9% −2.6% 22.7% 22.5% n/a 23.4% 22.4% −4.7% 23.7% 24.4%
Returns
14.5% 27.3% 17.2% 8.8% −154.5% 39.5% 28.1% 1.1% 12.8% 13.2%
3.2% 8.0% 5.8% 2.7% −22.3% 8.1% 6.8% 0.3% 3.5% 4.0%
Balance and payout
1.49 1.00 0.68 0.58 1.69 0.91 0.73 0.74 0.61 0.50
73.2% 29.4% 41.8% 82.6% n/a 6.3% 15.1% 402.2% 33.0% 30.7%
64.3% 31.0% 42.9% 66.1% 37.9% 25.0% 106.5% 32.5% 25.4% 42.3%