Macy's, Inc. (M) quarterly cash flow statement — complete operating, investing & financing history
Macy's, Inc. (M) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 294M | 292M | 1.18B | -8M | 319M | -64M | 1.31B | -167M | 8M | 129M | 1.15B | -113M | 166M | 105M | 1.13B | 185M | 55M | 248M | 1.87B | -124M |
| Operating CF Margin % | 5.81% | 5.97% | 14.94% | -0.16% | 6.38% | -1.34% | 16.34% | -3.41% | 0.16% | 2.58% | 13.7% | -2.24% | 3.14% | 2.03% | 13.22% | 3.38% | 0.94% | 4.46% | 20.95% | -2.19% |
| Operating CF Growth % | -7.84% | 556.25% | -9.56% | 95.21% | 3887.5% | -149.61% | 14.04% | -47.79% | -95.18% | 22.86% | 1.77% | -161.08% | 201.82% | -57.66% | -39.76% | 249.19% | -88.32% | -49.8% | 361.98% | -149.4% |
| Net Income | 322.82B | -322.58B | 5.04B | 11M | -4.45B | 38M | 342M | 28M | 150M | 62M | -71M | 40M | -22M | 155M | 509M | 107M | 275M | 286M | 743M | 239M |
| Depreciation & Amortization | 11.9B | -11.49B | 3M | 235M | 437M | 219M | 224M | 228M | 213M | 216M | 232M | 232M | 215M | 218M | 219M | 225M | 207M | 206M | 206M | 224M |
| Stock-Based Compensation | 6.83B | -6.79B | 62M | 15M | -31M | 13M | 16M | 14M | 15M | 13M | 2M | 15M | 16M | 14M | 10M | 14M | 17M | 13M | 23M | 10M |
| Deferred Taxes | 5.77B | -5.75B | 61M | 4M | -1M | -2M | -4M | -13M | -25M | -10M | -201M | 3M | -14M | -32M | 32M | -32M | -21M | -17M | -14M | 55M |
| Other Non-Cash Items | -346.91B | 346.9B | -4.1B | -7M | 4.37B | -6M | 184M | -86M | -34M | 22M | 973M | 21M | 125M | -4M | 13M | 23M | 652M | -27M | 10M | 20M |
| Working Capital Changes | -110M | 12M | 118M | -266M | -12M | -326M | 546M | -338M | -311M | -174M | 212M | -424M | -154M | -246M | 344M | -152M | -433M | -213M | 903M | -672M |
| Change in Receivables | 66M | 316M | -441M | 24M | 30M | 62M | -66M | 43M | -10M | 35M | -75M | 5M | 10M | 45M | -96M | 15M | 13M | 65M | -80M | 6M |
| Change in Inventory | 384M | -421M | 1.88B | -1.96B | 321M | -198M | 1.79B | -1.88B | 312M | -273M | 1.66B | -1.9B | 478M | -340M | 2.13B | -1.79B | 346M | -573M | 1.76B | -1.84B |
| Change in Payables | -579M | 237M | -1.44B | 1.72B | -338M | -102M | -1.18B | 1.52B | -513M | 112M | -1.49B | 1.5B | -430M | -41M | -1.64B | 1.69B | -570M | 215M | -1.37B | 1.26B |
| Cash from Investing | -137M | -149M | -214M | -163M | -129M | -133M | -137M | -82M | -156M | -217M | -197M | -185M | -261M | -270M | -300M | -354M | -321M | -194M | -167M | -59M |
| Capital Expenditures | 12.19B | -12.34B | -12M | -182M | -79M | -100M | -119M | -128M | -117M | -229M | -244M | -95M | -268M | -215M | -233M | -401M | -321M | -261M | -212M | -155M |
| CapEx % of Revenue | 240.91% | 252.27% | 0.15% | 3.7% | 1.58% | 2.09% | 1.49% | 2.61% | 2.3% | 4.58% | 2.91% | 1.89% | 5.08% | 4.16% | 2.73% | 7.33% | 5.5% | 4.69% | 2.37% | 2.74% |
| Acquisitions | 5.45B | -5.45B | -20M | 20M | 0 | 0 | 0 | 0 | 0 | 4M | 50M | 0 | 7M | 0 | 0 | 49M | 0 | 73M | 46M | 84M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -17.78B | 17.64B | -182M | -1M | -50M | -33M | -18M | 46M | -39M | 8M | -3M | -90M | -86M | -55M | -67M | -77M | -114M | -6M | 45M | 96M |
| Cash from Financing | -156M | -95M | -169M | -212M | -293M | -178M | -179M | -82M | -82M | -70M | -280M | 224M | -70M | -94M | -291M | 195M | -106M | -1.09B | -310M | -1.71B |
| Debt Issued (Net) | -55M | -1M | 381M | -159M | -221M | -1M | -86M | -136M | -34M | -1M | -160M | 159M | 0 | -1M | -184M | 183M | -1M | -465M | -141M | -1.46B |
| Equity Issued (Net) | -50M | -51M | 200M | -51M | -52M | -97M | -1M | 0 | 0 | 0 | 0 | 0 | -3M | -35M | 0 | 0 | -17M | -584M | -199M | -294M |
| Dividends Paid | -51M | -50M | -48M | -49M | -49M | -51M | -48M | -48M | -48M | -48M | -46M | -45M | -45M | -45M | -43M | -43M | -42M | -45M | -44M | -46M |
| Share Repurchases | -53M | -51M | 200M | -51M | -52M | -97M | -1M | 0 | 0 | 0 | 0 | 0 | -3M | -35M | 0 | 0 | -17M | -584M | -206M | -294M |
| Other Financing | 0 | 7M | -702M | 47M | 29M | -29M | -44M | 102M | 0 | -21M | -74M | 110M | -22M | -13M | -64M | 55M | -46M | 0 | 74M | 84M |
| Net Change in Cash | 1M | 48M | 802M | -382M | -103M | -375M | 992M | -331M | -230M | -158M | 670M | -74M | -165M | -259M | 536M | 26M | -372M | -1.04B | 1.39B | -1.89B |
| Free Cash Flow | 229M | 204M | 1.16B | -101M | 240M | -241M | 1.19B | -384M | -195M | -100M | 903M | -298M | -102M | -191M | 815M | -216M | -266M | -13M | 1.66B | -279M |
| FCF Margin % | 4.53% | 4.17% | 14.64% | -2.06% | 4.8% | -5.03% | 14.85% | -7.83% | -3.83% | -2% | 10.78% | -5.92% | -1.93% | -3.69% | 9.56% | -3.95% | -4.56% | -0.23% | 18.58% | -4.94% |
| FCF Growth % | -4.58% | 184.65% | -2.52% | 73.7% | 223.08% | -141% | 31.67% | -28.86% | -91.18% | 47.64% | 10.8% | -37.96% | 61.65% | -1369.23% | -50.87% | 22.58% | -178.24% | -103.29% | 410.46% | -281.17% |
| FCF per Share | 0.84 | 0.75 | 4.19 | -0.37 | 0.86 | -0.86 | 4.21 | -1.36 | -0.69 | -0.36 | 3.28 | -1.07 | -0.37 | -0.69 | 2.93 | -0.78 | -0.96 | -0.04 | 5.44 | -0.89 |
| FCF Conversion (FCF/Net Income) | 1.74x | 4.63x | 2.34x | -0.73x | 3.67x | -1.68x | 3.82x | -5.96x | 0.05x | 2.08x | -16.39x | -2.76x | -7.55x | 0.68x | 2.21x | 1.71x | 0.20x | 0.87x | 2.52x | -0.52x |
| Interest Paid | 22M | 0 | -176M | 63M | 57M | 56M | 18M | 58M | 20M | 59M | 19M | 56M | 22M | 60M | 20M | 60M | 22M | 86M | 0 | 255M |
| Taxes Paid | 78M | 0 | -54M | 4M | 43M | 7M | -207M | 4M | 191M | 12M | 23M | 2M | 209M | 6M | 99M | 51M | 304M | 1M | 0 | 62M |