Macy's (M) | Financial Analysis & Statements

Macy's Inc. | Mid-cap | Consumer Cyclical

$12.52

0.32%

Macy's vs Dillard's Macy's vs Nordstrom Macy's vs Kohl's Macy's vs Amazon.com Macy's vs Tesla Macy's vs S&P 500 | Market

Overview Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

Financial Overview

Latest Annual: 2025

Income Metrics

Revenue 23.0B

Gross Profit 9.3B 40.28%

Operating Income 936.0M 4.07%

Net Income 582.0M 2.53%

EPS (Diluted) $2.07

Balance Sheet Metrics

Total Assets 16.4B

Total Liabilities 11.8B

Shareholders Equity 4.6B

Debt to Equity 2.60

Cash Flow Metrics

Operating Cash Flow 1.2B

Free Cash Flow 396.0M

Revenue & Profitability Trend

Macy's Income Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Revenue	23.0B	23.9B	25.4B	25.4B	18.1B
Cost of Goods Sold	13.7B	14.1B	15.3B	15.0B	12.3B
Gross Profit	9.3B	9.7B	10.1B	10.4B	5.8B
Operating Expenses	8.3B	8.5B	8.5B	8.2B	6.9B
Operating Income	936.0M	1.2B	1.6B	2.2B	-1.0B
Pre-tax Income	763.0M	124.0M	1.5B	1.9B	-4.8B
Income Tax	181.0M	19.0M	341.0M	436.0M	-846.0M
Net Income	582.0M	105.0M	1.2B	1.4B	-3.9B
EPS (Diluted)	$2.07	$0.38	$4.19	$4.55	-$12.68

Income Statement Trend

Macy's Balance Sheet From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Assets
Current Assets	6.5B	6.1B	5.9B	6.8B	6.2B
Non-Current Assets	9.9B	10.2B	11.0B	10.8B	11.5B
Total Assets	16.4B	16.2B	16.9B	17.6B	17.7B
Liabilities
Current Liabilities	4.5B	4.4B	4.9B	5.4B	5.4B
Non-Current Liabilities	7.3B	7.7B	7.9B	8.6B	9.8B
Total Liabilities	11.8B	12.1B	12.8B	14.0B	15.2B
Equity
Total Shareholders Equity	4.6B	4.1B	4.1B	3.6B	2.6B

Balance Sheet Composition

Macy's Cash Flow Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Operating Activities
Net Income	582.0M	105.0M	1.2B	1.4B	-3.9B
Operating Cash Flow	1.2B	317.0M	1.7B	2.8B	-3.0B
Investing Activities
Capital Expenditures	-235.0M	-545.0M	-751.0M	-190.0M	-225.0M
Investing Cash Flow	-228.0M	-551.0M	-762.0M	-127.0M	-197.0M
Financing Activities
Dividends Paid	-192.0M	-181.0M	-173.0M	-90.0M	-117.0M
Financing Cash Flow	-413.0M	-220.0M	-1.3B	-2.4B	699.0M
Free Cash Flow	396.0M	312.0M	320.0M	2.1B	183.0M

Cash Flow Trend

Macy's Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 5.37

Forward P/E 4.12

Price to Book 0.65

Price to Sales 0.13

PEG Ratio 4.12

Profitability Ratios

Profit Margin 2.45%

Operating Margin 1.86%

Return on Equity 12.92%

Return on Assets 3.29%

Financial Health

Current Ratio 1.43

Debt to Equity 127.25

Beta 1.76

Per Share Data

EPS (TTM) $1.98

Book Value per Share $16.39

Revenue per Share $81.99

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
m	2.9B	5.37	0.65	12.92%	2.45%	127.25
Dillard's	6.3B	11.21	3.41	30.93%	8.79%	29.82
Nordstrom	4.1B	14.17	3.57	29.58%	1.96%	375.70
Kohl's	907.5M	7.43	0.24	3.19%	0.75%	195.05
Amazon.com	2.3T	34.84	7.41	25.24%	10.14%	51.64
Tesla	1.1T	192.81	14.64	8.77%	6.38%	17.41

Financial data is updated regularly. All figures are in the company's reporting currency.