Macy's, Inc. (M) Financial Statements
Industry: Department Stores (Retail)
In fiscal 2025, Macy's reported revenue of $22.62B, down 1.7% from $23.01B the year before. Net income was $642.0M (a 2.8% net margin), or $2.32 per diluted share. Gross margin was 40.3% and operating margin was 4.6%. Operating activities generated $1.43B of cash, leaving $1.06B of free cash flow. At fiscal year end, Macy's held $16.24B in total assets against $11.38B in total liabilities, including $1.25B of cash and equivalents.
Open the full interactive Macy's financials → Quarterly statements, key ratios, valuation history and price charts.
Macy's Key Stats
| Share Price | $22.74 |
|---|---|
| Market Cap | $6.18B |
| P/E Ratio | 9.8 |
| Revenue YoY Growth | -1.7% |
| 52-Week Range | $16.65 – $25.99 |
| Shares Outstanding | 263.6 million (basic, 2026 Q2) |
Macy's Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $17.35B | $24.46B | $24.44B | $23.87B | $23.01B | $22.62B |
| Cost of Goods Sold | $12.29B | $14.96B | $15.31B | $14.14B | $13.74B | $13.50B |
| Gross Profit | $5.06B | $9.50B | $9.14B | $9.72B | $9.27B | $9.12B |
| Operating Income | -$4.47B | $2.35B | $1.73B | $382.0M | $909.0M | $1.03B |
| Pre-Tax Income | -$4.79B | $1.87B | $1.52B | $124.0M | $763.0M | $849.0M |
| Income Tax | -$846.0M | $436.0M | $341.0M | $19.0M | $181.0M | $207.0M |
| Net Income | -$3.94B | $1.43B | $1.18B | $105.0M | $582.0M | $642.0M |
| Diluted EPS | -$12.68 | $4.55 | $4.19 | $0.38 | $2.07 | $2.32 |
Macy's Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $4.91B | $7.92B | $4.89B | $5.06B |
| Net Income | $11.0M | $506.0M | $63.0M | $169.0M |
| Diluted EPS | $0.04 | $1.83 | $0.23 | $0.62 |
Macy's Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.68B | $1.71B | $862.0M | $1.03B | $1.31B | $1.25B |
| Current Assets | $6.18B | $6.76B | $5.85B | $6.09B | $6.48B | $6.67B |
| Total Assets | $17.71B | $17.59B | $16.87B | $16.25B | $16.40B | $16.24B |
| Current Liabilities | $5.36B | $5.42B | $4.86B | $4.43B | $4.52B | $4.49B |
| Total Long-Term Debt | $4.41B | $3.29B | $3.00B | $3.00B | $2.77B | $2.43B |
| Total Liabilities | $15.15B | $13.97B | $12.78B | $12.11B | $11.85B | $11.38B |
| Shareholders' Equity | $2.55B | $3.62B | $4.08B | $4.14B | $4.55B | $4.86B |
Macy's Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $649.0M | $2.71B | $1.61B | $1.30B | $1.28B | $1.43B |
| Cash From Investing | -$325.0M | -$370.0M | -$1.17B | -$913.0M | -$592.0M | -$639.0M |
| Cash From Financing | $699.0M | -$2.38B | -$1.30B | -$220.0M | -$413.0M | -$852.0M |
| Free Cash Flow | $311.0M | $2.36B | $727.0M | $674.0M | $760.0M | $1.06B |
Figures from Macy's' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Macy's financials page for every line item.
Macy's Company Profile
| Ticker | M |
|---|---|
| Exchange | NYSE |
| Industry | Department Stores (Retail) |
| Headquarters | New York, New York |
| Incorporated in | Delaware |
| Fiscal Year End | February 1 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000794367 |
Frequently Asked Questions
What was Macy's' revenue in fiscal 2025?
Macy's (M) reported revenue of $22.62B for fiscal 2025.
What is Macy's' annual revenue history?
Macy's' annual revenue by fiscal year: 2020: $17.35B; 2021: $24.46B; 2022: $24.44B; 2023: $23.87B; 2024: $23.01B; 2025: $22.62B.
What was Macy's' net income in fiscal 2025?
Macy's reported net income of $642.0M for fiscal 2025.
What was Macy's' earnings per share (EPS) in fiscal 2025?
Macy's' diluted EPS was $2.32 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Macy's generate in fiscal 2025?
Macy's generated $1.06B of free cash flow in fiscal 2025.
What was Macy's' revenue last quarter?
In its most recent reported quarter (2026 Q2), Macy's reported revenue of $5.06B.
How much debt does Macy's have?
Macy's reported $2.43B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Macy's are outstanding?
Macy's reported a weighted average of 263.6 million basic shares outstanding in 2026 Q2.
What is Macy's' market cap?
Based on its latest closing price, Macy's (M) has a market capitalization of about $6.18B.
When does Macy's' fiscal year end?
Macy's' fiscal year end, as registered with the SEC, is February 1.
Where is Macy's headquartered?
Macy's lists its business address in New York, New York in its SEC filings.