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MMacy's, Inc.
$22.78$6.0B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
M logo

Macy's, Inc.

M
NYSE · Department Stores
$22.78
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$5.99B
P/E9.8x
52W High$26.59
Volume4.53M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Turnaround Leverage Emerges Amid Structural Headwinds

Macy's appears to be in the early stages of a operational turnaround, with operating margin expanding to 5.0% in the latest quarter from 3.1% a year ago, driven by store rationalization and modest leverage on a now near-flat revenue base. The balance sheet has...

GrowthMixed
ProfitabilityModerate
ValuationAttractive
TechnicalsMixed
Explore valuation models
MARKET ACTION

M price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

11/12 Beats

EPS beat 11 of last 12 quarters

02

Valuation risk

-50% Peers

P/E is 50% below peer median

03

Market leadership

RS 63 · Avg

Average momentum (RS Rating: 63)

04

Mixed Trend

Mixed

Price < 50DMA but > 200DMA

Next CatalystEstimated earnings · Dec 10
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth has stabilized at 1.2% YoY in the latest quarter, while operating margin expanded to 5.0% from 3.1% a year ago, suggesting early-stage leverage from restructuring efforts.

Analyst Consensus+6.5% target
Hold(41 analysts)
13 Buy21 Hold7 Sell

The Bull Case

Upside Catalysts

Omni-channel retail ecosystem

Macy's operates a nationwide, omni-channel ecosystem that enables a seamless shopping experience across its portfolio of brands.

Diverse brand portfolio

The company's portfolio includes well-known nameplates like Macy's, Bloomingdale's, and Bluemercury, catering to various customer segments.

Strong online presence

Macy's offers free shipping and online deals, enhancing its e-commerce capabilities and customer convenience.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
M+2.66%
S&P 500 (^GSPC)+13.20%
1-Year Return
M+39.35%
S&P 500 (^GSPC)+15.98%
3-Year Return
M+129.48%
S&P 500 (^GSPC)+83.83%
5-Year Return
M+15.87%
S&P 500 (^GSPC)+72.78%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
9.8x
Forward P/E
10.4x
EV/EBITDA80th %ile
5.2x
FCF YieldCash Flow
17.6%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
9.8x
7.5x
80th· High
EV/EBITDA
5.2x
4.9x
80th· High
Price/FCF
5.7x
5.8x
40th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$39.03+71.3%
Base (Fair)$76.40+248.2%
Bull$138.76+509.1%
$39.03 Bear$76.40 Base$138.76 Bull
Current Market Price: $22.78
Trades at a 70.2% discount to Base DCF ($76.40)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$22.62B-1.7% YoY
Net income
$642M+10.3% YoY
Free cash flow
$1.06B+39.1% YoY
Operating margin
4.6%+0.6 pts YoY
ROIC (TTM)8.7%
Avg ROIC 5Y-
ROE (TTM)13.6%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate11/12 (92%)
Revenue Beat Rate10/12 (83%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Sep 10, 2026
$0.63+70.0%
vs $0.37
$4.9B+1.3%
vs $4.8B
Q3 2026
Jun 3, 2026
$0.13+324.3%
vs $0.03
$4.7B+1.5%
vs $4.6B
Q2 2026
Mar 18, 2026
$1.67+9.2%
vs $1.53
$7.6B+1.8%
vs $7.5B
Q4 2025
Dec 3, 2025
$0.09+168.8%
vs -$0.13
$4.9B+7.9%
vs $4.6B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Newsfile Corp·1d ago
Encouraging High-Pressure Slurry Ablation Test Results at Myriad's Copper Mountain Uranium Project

Vancouver, British Columbia--(Newsfile Corp. - September 22, 2026) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce the results of an initial testing campaign conducted by DISA Uranium™ Corporation ("DISA Uranium") in 2026 with samples from Myriad Uranium. The primary objective of testing was to determine how efficiently DISA's high-pressure slurry ablation technology ("HPSA™") could concentrate uranium and improve recovery of uranium from the concentrated mass fraction.

MarketBeat·Sep 16, 2026
Macy's Says Bold New Chapter Strategy Is Driving Sales Growth at Investor Conference

Macy's NYSE: M executives told investors at the Goldman Sachs Global Consumer and Retail Conference that the company's “A Bold New Chapter” strategy is producing sales growth, improved customer-service metrics and progress across its Macy's, Bloomingdale's and Bluemercury banners.

Seeking Alpha·Sep 15, 2026
Macy's, Inc. (M) Presents at Goldman Sachs Global Consumer and Retail Conference Transcript

Macy's, Inc. (M) Presents at Goldman Sachs Global Consumer and Retail Conference Transcript

Zacks Investment Research·Sep 14, 2026
Can Macy's Raised 2026 Outlook Offset Third-Quarter Earnings Risk?

M raises its 2026 outlook after stronger Q2 results, but heavier Q3 investment and soft earnings guidance keep near-term risks in focus.

Filtered for Macy's, Inc.More Headlines
04

Compare before deciding

Benchmark M against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Macy's, Inc. (M)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
M logoMMacy's, Inc.Current
$22.78$5.99B9.82-1.67%2.84%13.64%3.13%
KSS logoKSSKohl's Corporation
$18.26$2.05B7.70-4.28%1.75%6.68%—
DDS logoDDSDillard's, Inc.
$650.17$10.15B17.84-0.41%10.34%34.24%—
BKE logoBKEThe Buckle, Inc.
$41.75$2.15B10.086.58%16.62%46.91%—
SKY logoSKYChampion Homes, Inc.
$88.84$4.88B24.347.26%7.16%12.11%—
TJX logoTJXThe TJX Companies, Inc.
$130.80$144.5B26.807.12%9.73%59.77%—

Compare M vs Peers

Macy's, Inc. (M) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs KSS

Most directly comparable listed peer for M.

Scale Benchmark

vs AMZN

Larger-name benchmark to compare M against a more recognizable public peer.

Peer Set

Compare Top 5

vs KSS, DDS, BKE, SKY

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

M SEC Filings & Documents

Macy's, Inc. (M) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Sep 10, 2026·SEC

Material company update

Jun 3, 2026·SEC

Material company update

May 18, 2026·SEC

10-K Annual Reports

2
FY 2026

Mar 27, 2026·SEC

FY 2025

Mar 21, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Sep 10, 2026·SEC

FY 2026

Jun 4, 2026·SEC

FY 2025

Dec 10, 2025·SEC

Get notified when M posts new earnings or crosses analyst targets

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M Frequently Asked Questions

Macy's, Inc. (M) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Macy's, Inc.'s revenue?

Macy's, Inc. (M) reported $22.78B in revenue for fiscal year 2025. This represents a 50% increase from $15.23B in 1996.

How fast is Macy's, Inc. growing?

Macy's, Inc. (M) saw revenue decline by 1.7% over the past year.

Is M profitable?

Yes, Macy's, Inc. (M) is profitable, generating $749.0M in net income for fiscal year 2025 (2.8% net margin).

Dividend & Returns
Does M pay dividends?

Yes, Macy's, Inc. (M) pays a dividend with a yield of 3.13%. This makes it attractive for income-focused investors.

What is M's return on equity?

Macy's, Inc. (M) has a return on equity (ROE) of 13.6%. This is reasonable for most industries.

What is Macy's, Inc.'s free cash flow?

Macy's, Inc. (M) generated $1.49B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in M back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →