Macy's (M)

NYSE Consumer Discretionary Broadline Retail S&P MidCap 400

$23.08

-1.11 (-4.59%)

Close of Nov 06, 2026 · end-of-day data

Source: Macy's's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	$25.91B	$24.94B	$24.97B	$24.56B	$17.35B	$24.46B	$24.44B	$23.09B	$22.29B	$21.76B
Cost of revenue	$15.67B	$15.18B	$15.21B	$15.17B	$12.29B	$14.97B	$15.35B	$14.22B	$13.74B	$13.50B
Gross profit	$10.16B	$9.69B	$9.76B	$9.39B	$5.06B	$9.49B	$9.10B	$8.87B	$8.55B	$8.27B
Selling, general & admin	$9.26B	$8.95B	$9.04B	$9.00B	$6.77B	$8.15B	$8.46B	$8.38B	$8.33B	$8.24B
Operating income	$1.37B	$1.86B	$1.74B	$970.00M	-$4.47B	$2.33B	$1.69B	$301.00M	$909.00M	$1.03B
Interest expense	$367.00M	$321.00M	$261.00M	$205.00M	$284.00M	$256.00M	$175.00M	$170.00M	$158.00M	$139.00M
Pre-tax income	$965.00M	$1.52B	$1.42B	$728.00M	-$4.79B	$1.85B	$1.48B	$43.00M	$763.00M	$849.00M
Income tax	$346.00M	-$39.00M	$322.00M	$164.00M	-$846.00M	$432.00M	$331.00M	-$2.00M	$181.00M	$207.00M
Net income	$627.00M	$1.57B	$1.11B	$564.00M	-$3.94B	$1.42B	$1.15B	$45.00M	$582.00M	$642.00M
EBITDA	$2.43B	$2.85B	$2.70B	$1.95B	-$3.52B	$3.21B	$2.55B	$1.20B	$1.79B	$1.92B
EPS (basic)	$2.03	$5.13	$3.60	$1.82	$-12.68	$4.62	$4.17	$0.16	$2.10	$2.37
EPS (diluted)	$2.02	$5.10	$3.56	$1.81	$-12.68	$4.52	$4.08	$0.16	$2.07	$2.32
Diluted shares	310.80M	306.80M	311.40M	311.40M	311.10M	314.00M	281.10M	278.20M	281.60M	276.50M
Gross margin	39.2%	38.8%	39.1%	38.2%	29.2%	38.8%	37.2%	38.4%	38.4%	38.0%
Operating margin	5.3%	7.5%	7.0%	3.9%	-25.8%	9.5%	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%

Balance sheet

fiscal years · USD

Fiscal year	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash & equivalents	$1.30B	$1.46B	$1.16B	$685.00M	$1.68B	$1.71B	$862.00M	$1.03B	$1.31B	$1.25B
Receivables	$522.00M	$363.00M	$400.00M	$409.00M	$276.00M	$297.00M	$300.00M	$293.00M	$303.00M	—
Inventory	$5.40B	$5.18B	$5.26B	$5.19B	$3.77B	$4.38B	$4.27B	$4.36B	$4.47B	$4.41B
Total current assets	$7.63B	$7.65B	$7.45B	$6.81B	$6.18B	$6.76B	$5.85B	$6.09B	$6.48B	$6.67B
Goodwill	$3.90B	$3.90B	$3.91B	$3.91B	$828.00M	$828.00M	$828.00M	$828.00M	$828.00M	$828.00M
Total assets	$19.85B	$19.58B	$19.19B	$21.17B	$17.71B	$17.59B	$16.87B	$16.25B	$16.40B	$16.24B
Total current liabilities	$5.65B	$5.18B	$5.23B	$5.75B	$5.36B	$5.42B	$4.86B	$4.53B	$4.52B	$4.49B
Short-term debt	$309.00M	$22.00M	$43.00M	$539.00M	$452.00M	$0	$0	$0	$6.00M	$0
Long-term debt	$6.44B	$5.75B	$4.41B	$3.70B	$4.32B	$3.29B	$3.00B	$3.00B	$2.78B	$2.43B
Total debt	$6.75B	$5.77B	$4.45B	$4.24B	$4.77B	$3.29B	$3.00B	$3.00B	$2.79B	$2.43B
Total liabilities	$15.53B	$13.84B	$12.76B	$14.79B	$15.15B	$13.97B	$12.83B	$12.21B	$11.85B	$11.38B
Shareholders' equity	$4.32B	$5.75B	$6.44B	$6.38B	$2.55B	$3.62B	$4.04B	$4.04B	$4.55B	$4.86B

Cash flow

fiscal years · USD

Fiscal year	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Operating cash flow	$1.80B	$1.98B	$1.74B	$1.61B	$649.00M	$2.71B	$1.61B	$1.30B	$1.28B	$1.43B
Capital expenditures	$596.00M	$487.00M	$657.00M	$902.00M	$338.00M	$354.00M	$888.00M	$631.00M	$518.00M	$373.00M
Free cash flow	$1.21B	$1.49B	$1.08B	$706.00M	$311.00M	$2.36B	$727.00M	$674.00M	$760.00M	$1.06B
Investing cash flow	-$243.00M	-$351.00M	-$456.00M	-$1.00B	-$325.00M	-$370.00M	-$1.17B	-$913.00M	-$592.00M	-$639.00M
Financing cash flow	-$1.43B	-$1.45B	-$1.54B	-$1.12B	$699.00M	-$2.38B	-$1.30B	-$220.00M	-$413.00M	-$852.00M
Dividends paid	$459.00M	$461.00M	$463.00M	$466.00M	$117.00M	$90.00M	$173.00M	$181.00M	$192.00M	$197.00M
Share buybacks	$316.00M	$1.00M	$0	$1.00M	$1.00M	$500.00M	$601.00M	$38.00M	$1.00M	$250.00M
Stock-based compensation	$61.00M	$58.00M	$63.00M	$38.00M	$31.00M	$55.00M	$54.00M	$47.00M	$58.00M	$59.00M
Depreciation & amortization	$1.06B	$991.00M	$962.00M	$981.00M	$959.00M	$874.00M	$857.00M	$897.00M	$881.00M	$894.00M

Income statement

quarters · USD

Quarter ended	Oct 2023	Feb 2024	May 2024	Aug 2024	Nov 2024	Feb 2025	May 2025	Aug 2025	Nov 2025	Jan 2026	May 2026	Aug 2026
Revenue	$4.86B	$8.12B	$4.85B	$4.94B	$4.74B	$7.77B	$4.60B	$4.81B	$4.71B	$7.64B	$4.68B	$4.87B
Cost of revenue	$2.90B	$5.15B	$2.95B	$2.94B	$2.86B	$4.99B	$2.79B	$2.90B	$2.85B	$4.95B	$2.86B	$2.85B
Gross profit	$1.96B	$2.97B	$1.90B	$2.00B	$1.88B	$2.78B	$1.80B	$1.91B	$1.86B	$2.69B	$1.82B	$2.02B
Selling, general & admin	$2.04B	$2.40B	$1.91B	$1.97B	$2.06B	$2.38B	$1.91B	$1.94B	$2.02B	$2.36B	$1.95B	$1.96B
Operating income	$83.00M	-$149.00M	$125.00M	$222.00M	$64.00M	$499.00M	$94.00M	$149.00M	$42.00M	$745.00M	$112.00M	$244.00M
Pre-tax income	$43.00M	-$180.00M	$98.00M	$195.00M	$35.00M	$436.00M	$68.00M	$115.00M	$5.00M	$662.00M	$93.00M	$227.00M
Income tax	$2.00M	-$52.00M	$36.00M	$45.00M	$7.00M	$94.00M	$30.00M	$28.00M	-$6.00M	$155.00M	$30.00M	$58.00M
Net income	$41.00M	-$128.00M	$62.00M	$150.00M	$28.00M	$342.00M	$38.00M	$87.00M	$11.00M	$507.00M	$63.00M	$169.00M
EBITDA	$315.00M	$83.00M	$341.00M	$435.00M	$292.00M	$723.00M	$313.00M	$367.00M	$277.00M	$967.00M	$322.00M	$450.00M
EPS (basic)	$0.15	$-0.47	$0.22	$0.54	$0.10	$1.24	$0.14	$0.32	$0.04	$1.87	$0.24	$0.64
EPS (diluted)	$0.15	$-0.46	$0.22	$0.53	$0.10	$1.22	$0.13	$0.31	$0.04	$1.84	$0.23	$0.62
Diluted shares	277.60M	500.00K	281.00M	281.60M	281.50M	300.00K	280.70M	275.90M	274.60M	-600.00K	272.70M	271.90M
Gross margin	40.2%	36.5%	39.2%	40.5%	39.6%	35.7%	39.2%	39.7%	39.4%	35.2%	38.9%	41.5%
Operating margin	1.7%	-1.8%	2.6%	4.5%	1.3%	6.4%	2.0%	3.1%	0.9%	9.8%	2.4%	5.0%
Net margin	0.8%	-1.6%	1.3%	3.0%	0.6%	4.4%	0.8%	1.8%	0.2%	6.6%	1.3%	3.5%

Balance sheet

quarters · USD

Quarter ended	Oct 2023	Feb 2024	May 2024	Aug 2024	Nov 2024	Feb 2025	May 2025	Aug 2025	Nov 2025	Jan 2026	May 2026	Aug 2026
Cash & equivalents	$364.00M	$1.03B	$876.00M	$646.00M	$315.00M	$1.31B	$932.00M	$829.00M	$447.00M	$1.25B	$1.29B	$1.29B
Receivables	—	$293.00M	—	—	—	$303.00M	—	—	—	—	—	—
Inventory	$6.03B	$4.36B	$4.69B	$4.38B	$6.26B	$4.47B	$4.66B	$4.34B	$6.30B	$4.41B	$4.83B	$4.45B
Total current assets	$7.08B	$6.09B	$6.26B	$5.74B	$7.25B	$6.48B	$6.29B	$5.83B	$7.38B	$6.67B	$6.90B	$6.39B
Goodwill	$828.00M	$828.00M	$828.00M	$828.00M	$828.00M	$828.00M	$828.00M	$828.00M	$828.00M	$828.00M	$828.00M	$828.00M
Total assets	$18.13B	$16.25B	$16.45B	$15.87B	$17.29B	$16.40B	$16.09B	$15.55B	$17.06B	$16.24B	$16.31B	$15.73B
Total current liabilities	$6.07B	$4.53B	$4.65B	$4.00B	$5.77B	$4.52B	$4.39B	$4.22B	$5.89B	$4.49B	$4.67B	$4.02B
Short-term debt	$160.00M	$0	$0	$6.00M	$92.00M	$6.00M	$6.00M	$194.00M	$0	$0	$0	$0
Long-term debt	$3.00B	$3.00B	$3.00B	$3.00B	$2.78B	$2.78B	$2.78B	$2.63B	$2.43B	$2.43B	$2.43B	$2.43B
Total debt	$3.16B	$3.00B	$3.00B	$3.00B	$2.87B	$2.79B	$2.79B	$2.82B	$2.43B	$2.43B	$2.43B	$2.43B
Total liabilities	$14.03B	$12.21B	$12.37B	$11.67B	$13.15B	$11.85B	$11.64B	$11.10B	$12.74B	$11.38B	$11.47B	$10.80B
Shareholders' equity	$4.10B	$4.04B	$4.08B	$4.20B	$4.15B	$4.55B	$4.45B	$4.45B	$4.33B	$4.86B	$4.84B	$4.93B

Cash flow

quarters · USD

Quarter ended	Oct 2023	Feb 2024	May 2024	Aug 2024	Nov 2024	Feb 2025	May 2025	Aug 2025	Nov 2025	Jan 2026	May 2026	Aug 2026
Operating cash flow	-$113.00M	$1.15B	$129.00M	$8.00M	-$167.00M	$1.31B	-$64.00M	$319.00M	-$8.00M	$1.18B	$292.00M	$294.00M
Capital expenditures	$95.00M	$146.00M	$154.00M	$117.00M	$128.00M	$119.00M	$100.00M	$79.00M	$93.00M	$101.00M	$88.00M	$65.00M
Free cash flow	-$208.00M	$1.00B	-$25.00M	-$109.00M	-$295.00M	$1.19B	-$164.00M	$240.00M	-$101.00M	$1.08B	$204.00M	$229.00M
Investing cash flow	-$185.00M	-$197.00M	-$217.00M	-$156.00M	-$82.00M	-$137.00M	-$133.00M	-$129.00M	-$163.00M	-$214.00M	-$149.00M	-$137.00M
Financing cash flow	$224.00M	-$280.00M	-$70.00M	-$82.00M	-$82.00M	-$179.00M	-$178.00M	-$293.00M	-$212.00M	-$169.00M	-$95.00M	-$156.00M
Dividends paid	$45.00M	$46.00M	$48.00M	$48.00M	$48.00M	$48.00M	$51.00M	$49.00M	$49.00M	$48.00M	$50.00M	$51.00M
Share buybacks	$0	$0	$0	$0	$0	$1.00M	$97.00M	$52.00M	$51.00M	$50.00M	$51.00M	$53.00M
Stock-based compensation	$15.00M	$2.00M	$13.00M	$15.00M	$14.00M	$16.00M	$13.00M	$15.00M	$15.00M	$16.00M	$14.00M	$18.00M
Depreciation & amortization	$232.00M	$232.00M	$216.00M	$213.00M	$228.00M	$224.00M	$219.00M	$218.00M	$235.00M	$222.00M	$210.00M	$206.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.