Last 47 quarters of trend data · Consumer Cyclical · Department Stores
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Macy's, Inc.'s quarterly P/E stands at 2.7x, down 15.0% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 18.9% YoY to 2.5x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 8.29 | 2.73 | 121.81 | 9.97 | 21.34 | 3.22 | 38.37 | 7.51 | 22.18 | — | 19.47 | — | 7.29 |
| — | -15.0% | +217.5% | +32.7% | -3.8% | — | +97.1% | — | +204.1% | — | +44.5% | — | +18.3% | |
| P/S Ratio | 0.24 | 0.17 | 0.27 | 0.17 | 0.17 | 0.14 | 0.22 | 0.22 | 0.27 | 0.15 | 0.16 | 0.21 | 0.22 |
| — | +27.2% | +24.3% | -21.8% | -36.2% | -8.4% | +36.2% | +4.3% | +25.0% | -22.2% | -39.7% | +0.5% | -30.5% | |
| P/B Ratio | 1.09 | 1.14 | 1.24 | 0.77 | 0.75 | 0.97 | 1.04 | 1.04 | 1.31 | 1.25 | 0.78 | 1.06 | 1.09 |
| — | +17.8% | +19.3% | -25.9% | -42.5% | -22.4% | +32.5% | -1.5% | +20.4% | -22.7% | -53.4% | -23.7% | -49.2% | |
| P/FCF | 5.05 | 1.19 | — | 3.58 | — | 0.93 | — | — | — | 1.39 | — | — | — |
| — | +29.0% | — | — | — | -33.5% | — | — | — | -31.0% | — | — | — | |
| EV / EBITDA | 4.83 | 2.47 | 9.16 | 5.42 | 6.46 | 3.04 | 8.40 | 5.66 | 7.80 | 15.50 | 7.20 | 7.37 | 5.37 |
| — | -18.9% | +9.1% | -4.2% | -17.2% | -80.4% | +16.7% | -23.1% | +45.2% | +357.9% | +2.8% | +68.5% | +16.1% | |
| EV / EBIT | 9.03 | 3.10 | 84.57 | 14.45 | 21.28 | 4.82 | 36.60 | 10.90 | 20.62 | — | 29.07 | 416.20 | 10.01 |
| — | -35.6% | +131.0% | +32.6% | +3.2% | — | +25.9% | -97.4% | +106.1% | — | +66.3% | +6277.0% | +41.9% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Macy's, Inc.'s operating margin was 9.3% in Q4 2025, up 8.5 pp QoQ and up 3.1 pp YoY. The trailing four-quarter average of 3.8% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 29.2% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.5% | 26.7% | 41.9% | 42.0% | 41.7% | 37.7% | 41.6% | 42.3% | 41.1% | 39.4% | 42.3% | 39.8% | 42.2% |
| — | -29.2% | +0.7% | -0.8% | +1.5% | -4.4% | -1.8% | +6.3% | -2.7% | +9.2% | +2.3% | -3.6% | +0.7% | |
| Operating Margin | 4.6% | 9.3% | 0.9% | 3.1% | 2.0% | 6.2% | 1.3% | 4.4% | 2.5% | -0.8% | 1.6% | 2.3% | 4.7% |
| — | +49.8% | -34.5% | -28.8% | -21.6% | +835.1% | -20.8% | +85.5% | -47.0% | -110.7% | -53.1% | -65.7% | -43.3% | |
| Net Margin | 2.8% | 6.4% | 0.2% | 1.7% | 0.8% | 4.3% | 0.6% | 2.9% | 1.2% | -0.8% | 0.8% | -0.4% | 3.0% |
| — | +49.7% | -60.8% | -40.9% | -36.1% | +611.0% | -29.8% | +806.4% | -58.6% | -114.0% | -58.8% | -108.8% | -41.7% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.6% | 11.0% | 0.3% | 2.0% | 0.8% | 7.9% | 0.7% | 3.5% | 1.5% | -1.7% | 1.0% | -0.5% | 3.8% |
| — | +40.1% | -62.2% | -44.7% | -44.0% | +559.4% | -32.5% | +773.0% | -59.9% | -112.7% | -68.2% | -106.5% | -54.7% | |
| ROA | 3.9% | 3.0% | 0.1% | 0.5% | 0.2% | 2.0% | 0.2% | 0.9% | 0.4% | -0.4% | 0.2% | -0.1% | 0.9% |
| — | +49.7% | -60.1% | -40.8% | -38.3% | +598.2% | -29.0% | +800.8% | -58.7% | -114.0% | -61.9% | -108.0% | -44.5% | |
| ROIC | 8.7% | 6.2% | 0.3% | 1.3% | 0.8% | 4.0% | 0.5% | 1.8% | 1.0% | -0.6% | 0.6% | 1.0% | 1.9% |
| — | +53.6% | -30.4% | -27.4% | -24.0% | +815.9% | -21.3% | +81.8% | -46.4% | -110.5% | -59.3% | -71.2% | -52.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Macy's, Inc.'s Debt/EBITDA ratio is 5.4x, down from 18.9x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has declined for 4 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.07 | 1.07 | 1.21 | 1.23 | 1.27 | 1.25 | 1.40 | 1.40 | 1.44 | 1.48 | 1.49 | 1.42 | 1.44 |
| — | -14.6% | -13.8% | -11.9% | -11.7% | -15.5% | -6.0% | -1.5% | +0.3% | -5.4% | -15.8% | -16.6% | -21.8% | |
| Debt / EBITDA | 2.70 | 5.42 | 18.93 | 14.69 | 18.10 | 7.89 | 19.95 | 13.82 | 17.69 | 37.17 | 19.65 | 17.62 | 12.97 |
| — | -31.4% | -5.1% | +6.3% | +2.3% | -78.8% | +1.5% | -21.5% | +36.4% | +420.0% | +32.9% | +77.8% | +44.0% | |
| Current Ratio | 1.49 | 1.49 | 1.25 | 1.38 | 1.43 | 1.43 | 1.26 | 1.48 | 1.38 | 1.34 | 1.18 | 1.26 | 1.22 |
| — | +3.7% | -0.1% | -6.4% | +4.2% | +6.6% | +6.8% | +17.1% | +12.4% | +11.6% | +7.9% | +7.5% | +8.9% | |
| Quick Ratio | 0.50 | 0.50 | 0.18 | 0.35 | 0.37 | 0.44 | 0.17 | 0.34 | 0.35 | 0.38 | 0.17 | 0.27 | 0.26 |
| — | +13.2% | +7.8% | +2.3% | +7.2% | +16.6% | -1.4% | +25.9% | +32.6% | +16.9% | +24.0% | +41.8% | +13.3% | |
| Interest Coverage | 10.62 | 36.95 | 1.68 | 6.20 | 3.48 | 23.76 | 2.00 | 7.16 | 4.03 | -2.63 | 2.37 | 3.44 | 6.59 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorDCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare business quality, growth, and profitability against top sector peers.
Start ComparisonQuick answers to the most common questions about buying M stock.
Macy's, Inc.'s current P/E is 8.3x. The average P/E over the last 4 quarters is 39.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Macy's, Inc.'s current operating margin is 4.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Macy's, Inc.'s business trajectory between earnings reports.