M

Macy's, Inc.

M · CIK 0000794367

19 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$21.76B2.4%
FY2025
Net income (FY)
$642.0M10.3%
FY2025
Free cash flow (FY)
$1.06B39.1%
FY2025
Diluted EPS (FY)
$2.3212.1%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$10B$20B$30BFY2007 · Revenue $26.31B · Net income $893.0M · 0001193125-10-072854 · filed 2010-03-31FY07Revenue $26.31BNet income $893.0M0001193125-10-072854 · filed 2010-03-31FY2008 · Revenue $24.89B · Net income −$4.78B · 0001193125-11-082813 · filed 2011-03-30FY08Revenue $24.89BNet income −$4.78B0001193125-11-082813 · filed 2011-03-30FY2009 · Revenue $23.49B · Net income $329.0M · 0000794367-12-000096 · filed 2012-03-28FY09Revenue $23.49BNet income $329.0M0000794367-12-000096 · filed 2012-03-28FY2010 · Revenue $25.00B · Net income $847.0M · 0000794367-13-000092 · filed 2013-04-03FY10Revenue $25.00BNet income $847.0M0000794367-13-000092 · filed 2013-04-03FY2011 · Revenue $26.41B · Net income $1.26B · 0000794367-14-000071 · filed 2014-04-02FY11Revenue $26.41BNet income $1.26B0000794367-14-000071 · filed 2014-04-02FY2012 · Revenue $27.69B · Net income $1.33B · 0000794367-15-000073 · filed 2015-04-01FY12Revenue $27.69BNet income $1.33B0000794367-15-000073 · filed 2015-04-01FY2013 · Revenue $27.93B · Net income $1.49B · 0000794367-16-000221 · filed 2016-03-30FY13Revenue $27.93BNet income $1.49B0000794367-16-000221 · filed 2016-03-30FY2014 · Revenue $28.11B · Net income $1.53B · 0000794367-17-000041 · filed 2017-03-29FY14Revenue $28.11BNet income $1.53B0000794367-17-000041 · filed 2017-03-29FY2015 · Revenue $27.08B · Net income $1.07B · 0000794367-18-000036 · filed 2018-04-04FY15Revenue $27.08BNet income $1.07B0000794367-18-000036 · filed 2018-04-04FY2016 · Revenue $25.91B · Net income $627.0M · 0000794367-19-000038 · filed 2019-04-03FY16Revenue $25.91BNet income $627.0M0000794367-19-000038 · filed 2019-04-03FY2017 · Revenue $24.94B · Net income $1.57B · 0000794367-20-000040 · filed 2020-03-30FY17Revenue $24.94BNet income $1.57B0000794367-20-000040 · filed 2020-03-30FY2018 · Revenue $24.97B · Net income $1.11B · 0001564590-21-016119 · filed 2021-03-29FY18Revenue $24.97BNet income $1.11B0001564590-21-016119 · filed 2021-03-29FY2019 · Revenue $24.56B · Net income $564.0M · 0001564590-22-011726 · filed 2022-03-25FY19Revenue $24.56BNet income $564.0M0001564590-22-011726 · filed 2022-03-25FY2020 · Revenue $17.35B · Net income −$3.94B · 0001628280-23-009154 · filed 2023-03-24FY20Revenue $17.35BNet income −$3.94B0001628280-23-009154 · filed 2023-03-24FY2021 · Revenue $24.46B · Net income $1.43B · 0001628280-24-012734 · filed 2024-03-22FY21Revenue $24.46BNet income $1.43B0001628280-24-012734 · filed 2024-03-22FY2022 · Revenue $24.44B · Net income $1.15B · 0001628280-25-014315 · filed 2025-03-21FY22Revenue $24.44BNet income $1.15B0001628280-25-014315 · filed 2025-03-21FY2023 · Revenue $23.09B · Net income $45.0M · 0001628280-26-021721 · filed 2026-03-27FY23Revenue $23.09BNet income $45.0M0001628280-26-021721 · filed 2026-03-27FY2024 · Revenue $22.29B · Net income $582.0M · 0001628280-26-021721 · filed 2026-03-27FY24Revenue $22.29BNet income $582.0M0001628280-26-021721 · filed 2026-03-27FY2025 · Revenue $21.76B · Net income $642.0M · 0001628280-26-021721 · filed 2026-03-27FY25Revenue $21.76BNet income $642.0M0001628280-26-021721 · filed 2026-03-27FY25Revenue $21.76BNet income $642.0M0001628280-26-021721 · filed 2026-03-27FY07FY10FY13FY16FY19FY22FY25

net margin 3.4% → 2.9%

MarginsNet marginFCF margin
-20%-10%0%10%FY2007 · Net margin 3.4% · FCF margin 4.6%FY07Net margin 3.4%FCF margin 4.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin -19.2% · FCF margin 4.4%FY08Net margin -19.2%FCF margin 4.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 1.4% · FCF margin 5.9%FY09Net margin 1.4%FCF margin 5.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 3.4% · FCF margin 4.7%FY10Net margin 3.4%FCF margin 4.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 4.8% · FCF margin 6.1%FY11Net margin 4.8%FCF margin 6.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 4.8% · FCF margin 5.3%FY12Net margin 4.8%FCF margin 5.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 5.3% · FCF margin 7.0%FY13Net margin 5.3%FCF margin 7.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 5.4% · FCF margin 6.9%FY14Net margin 5.4%FCF margin 6.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 4.0% · FCF margin 4.5%FY15Net margin 4.0%FCF margin 4.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 2.4% · FCF margin 4.7%FY16Net margin 2.4%FCF margin 4.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 6.3% · FCF margin 6.0%FY17Net margin 6.3%FCF margin 6.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 4.4% · FCF margin 4.3%FY18Net margin 4.4%FCF margin 4.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 2.3% · FCF margin 2.9%FY19Net margin 2.3%FCF margin 2.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin -22.7% · FCF margin 1.8%FY20Net margin -22.7%FCF margin 1.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 5.8% · FCF margin 9.6%FY21Net margin 5.8%FCF margin 9.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 4.7% · FCF margin 3.0%FY22Net margin 4.7%FCF margin 3.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 0.2% · FCF margin 2.9%FY23Net margin 0.2%FCF margin 2.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 2.6% · FCF margin 3.4%FY24Net margin 2.6%FCF margin 3.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 2.9% · FCF margin 4.9%FY25Net margin 2.9%FCF margin 4.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 2.9%FCF margin 4.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 2.9% · free cash flow 4.9% of revenue

Cash engineOperating cash flowFree cash flow
$0$1B$2BFY2007 · OCF $2.21B · FCF $1.22B · 0001193125-10-072854 · filed 2010-03-31FY07OCF $2.21BFCF $1.22B0001193125-10-072854 · filed 2010-03-31FY2008 · OCF $1.87B · FCF $1.10B · 0001193125-11-082813 · filed 2011-03-30FY08OCF $1.87BFCF $1.10B0001193125-11-082813 · filed 2011-03-30FY2009 · OCF $1.75B · FCF $1.40B · 0000794367-12-000096 · filed 2012-03-28FY09OCF $1.75BFCF $1.40B0000794367-12-000096 · filed 2012-03-28FY2010 · OCF $1.51B · FCF $1.17B · 0000794367-13-000092 · filed 2013-04-03FY10OCF $1.51BFCF $1.17B0000794367-13-000092 · filed 2013-04-03FY2011 · OCF $2.17B · FCF $1.62B · 0000794367-14-000071 · filed 2014-04-02FY11OCF $2.17BFCF $1.62B0000794367-14-000071 · filed 2014-04-02FY2012 · OCF $2.18B · FCF $1.48B · 0000794367-15-000073 · filed 2015-04-01FY12OCF $2.18BFCF $1.48B0000794367-15-000073 · filed 2015-04-01FY2013 · OCF $2.55B · FCF $1.94B · 0000794367-16-000221 · filed 2016-03-30FY13OCF $2.55BFCF $1.94B0000794367-16-000221 · filed 2016-03-30FY2014 · OCF $2.71B · FCF $1.94B · 0000794367-17-000041 · filed 2017-03-29FY14OCF $2.71BFCF $1.94B0000794367-17-000041 · filed 2017-03-29FY2015 · OCF $1.98B · FCF $1.21B · 0000794367-18-000036 · filed 2018-04-04FY15OCF $1.98BFCF $1.21B0000794367-18-000036 · filed 2018-04-04FY2016 · OCF $1.80B · FCF $1.21B · 0000794367-19-000038 · filed 2019-04-03FY16OCF $1.80BFCF $1.21B0000794367-19-000038 · filed 2019-04-03FY2017 · OCF $1.98B · FCF $1.49B · 0000794367-20-000040 · filed 2020-03-30FY17OCF $1.98BFCF $1.49B0000794367-20-000040 · filed 2020-03-30FY2018 · OCF $1.74B · FCF $1.08B · 0001564590-21-016119 · filed 2021-03-29FY18OCF $1.74BFCF $1.08B0001564590-21-016119 · filed 2021-03-29FY2019 · OCF $1.61B · FCF $706.0M · 0001564590-22-011726 · filed 2022-03-25FY19OCF $1.61BFCF $706.0M0001564590-22-011726 · filed 2022-03-25FY2020 · OCF $649.0M · FCF $311.0M · 0001628280-23-009154 · filed 2023-03-24FY20OCF $649.0MFCF $311.0M0001628280-23-009154 · filed 2023-03-24FY2021 · OCF $2.71B · FCF $2.36B · 0001628280-24-012734 · filed 2024-03-22FY21OCF $2.71BFCF $2.36B0001628280-24-012734 · filed 2024-03-22FY2022 · OCF $1.61B · FCF $727.0M · 0001628280-25-014315 · filed 2025-03-21FY22OCF $1.61BFCF $727.0M0001628280-25-014315 · filed 2025-03-21FY2023 · OCF $1.30B · FCF $674.0M · 0001628280-26-021721 · filed 2026-03-27FY23OCF $1.30BFCF $674.0M0001628280-26-021721 · filed 2026-03-27FY2024 · OCF $1.28B · FCF $760.0M · 0001628280-26-021721 · filed 2026-03-27FY24OCF $1.28BFCF $760.0M0001628280-26-021721 · filed 2026-03-27FY2025 · OCF $1.43B · FCF $1.06B · 0001628280-26-021721 · filed 2026-03-27FY25OCF $1.43BFCF $1.06B0001628280-26-021721 · filed 2026-03-27FY25OCF $1.43BFCF $1.06B0001628280-26-021721 · filed 2026-03-27’09’13’17’21’25

FY2025: $1.43B operating cash − $373.0M capex = $1.06B free cash flow

Returns on capitalReturn on equityReturn on assets
-100%0%FY2008 · ROE -102.8% · ROA -21.6%FY08ROE -102.8%ROA -21.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 7.1% · ROA 1.5%FY09ROE 7.1%ROA 1.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 15.3% · ROA 4.1%FY10ROE 15.3%ROA 4.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 21.2% · ROA 5.7%FY11ROE 21.2%ROA 5.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 22.1% · ROA 6.4%FY12ROE 22.1%ROA 6.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 23.8% · ROA 6.9%FY13ROE 23.8%ROA 6.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 28.4% · ROA 7.2%FY14ROE 28.4%ROA 7.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 25.2% · ROA 5.2%FY15ROE 25.2%ROA 5.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 14.5% · ROA 3.2%FY16ROE 14.5%ROA 3.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 27.3% · ROA 8.0%FY17ROE 27.3%ROA 8.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 17.2% · ROA 5.8%FY18ROE 17.2%ROA 5.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 8.8% · ROA 2.7%FY19ROE 8.8%ROA 2.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE -154.5% · ROA -22.3%FY20ROE -154.5%ROA -22.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 39.5% · ROA 8.1%FY21ROE 39.5%ROA 8.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 28.1% · ROA 6.8%FY22ROE 28.1%ROA 6.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 1.1% · ROA 0.3%FY23ROE 1.1%ROA 0.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 12.8% · ROA 3.5%FY24ROE 12.8%ROA 3.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 13.2% · ROA 4.0%FY25ROE 13.2%ROA 4.0%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 13.2%ROA 4.0%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity -103% (FY2008) → 13% (FY2025) · on assets 4.0%

The receipts