Stocktoria

Macy's, Inc. M

NYSE · stock · Retail-Department Stores · website · IPO 1992-02-05 · LEI

Macy's, Inc. statistics & valuation

Market cap$6.8B
P / E10.6×
P / S0.3×
P / B1.4×
P / FCF6.5×
Dividend yield2.88%
Net margin2.8%
Return on equity13.2%
FCF margin4.7%
Net debt$1.2B
Net debt / EBITDA0.6×
Enterprise value USD$8.0B
EV / EBITDA4.2×
Earnings yield EBIT/EV12.9%
Return on capital8.8%
Graham number +27.3%$30.29

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($30.29); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
2.40% 6.30% 4.40% 2.30% -22.70% 5.60% 4.50% 0.20% 2.50% 2.80% 2017201820192020202120222023202420252026
Gross margin (%)
39.20% 38.80% 2017201820192020202120222023202420252026
Operating margin (%)
5.30% 7.50% 7.00% 3.90% -25.80% 9.20% 6.60% 1.30% 4.00% 4.60% 2017201820192020202120222023202420252026
Return on equity (%)
14.30% 27.30% 17.20% 8.80% -154.50% 39.20% 28.40% 1.10% 12.80% 13.20% 2017201820192020202120222023202420252026
Shares outstanding
310.8M 306.8M 311.4M 311.4M 311.1M 314.0M 281.1M 278.2M 281.6M 276.5M 2017201820192020202120222023202420252026
Net debt ($)
$5.14B $4.30B $3.25B $3.02B $2.64B $1.58B $2.13B $1.96B $1.47B $1.19B 2017201820192020202120222023202420252026
Share buybacks ($)
2017201820192020202120222023202420252026
Return on assets (%)
3.20% 8.00% 5.80% 2.70% -22.30% 8.10% 6.80% 0.30% 3.50% 4.00% 2017201820192020202120222023202420252026
Free cash flow margin (%)
4.70% 6.00% 4.30% 2.90% 1.80% 9.30% 2.90% 2.80% 3.30% 4.70% 2017201820192020202120222023202420252026
Debt / equity (×)
1.47× 1.00× 0.68× 0.58× 1.69× 0.91× 0.74× 0.74× 0.61× 0.50× 2017201820192020202120222023202420252026
EPS ($)
$2.02 $5.10 $3.56 $1.81 -$12.68 $4.52 $4.08 $0.16 $2.07 $2.32 2017201820192020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Macy's, Inc. trades at about 10.3× earnings — above its 10-year norm (10-year range 5×–109×, median 7.3×).

5× 109×

Shaded band = 10-year range (5×–109×); dot = today's 10.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Gross margin————————38.8%39.2%
Operating margin4.6%4.0%1.3%6.6%9.2%-25.8%3.9%7.0%7.5%5.3%
Net margin2.8%2.5%0.2%4.5%5.6%-22.7%2.3%4.4%6.3%2.4%
FCF margin4.7%3.3%2.8%2.9%9.3%1.8%2.9%4.3%6.0%4.7%
Return on assets4.0%3.5%0.3%6.8%8.1%-22.3%2.7%5.8%8.0%3.2%
Return on equity13.2%12.8%1.1%28.4%39.2%-154.5%8.8%17.2%27.3%14.3%
Debt / equity0.50×0.61×0.74×0.74×0.91×1.69×0.58×0.68×1.00×1.47×
Current ratio1.491.431.341.201.251.151.181.421.481.35

Computed from company filings · US · as of 2026-01-31. Facts plus Stocktoria's own computed scores — not investment advice.