Macy's, Inc. (M) P/E Ratio History
Historical price-to-earnings valuation from 1992 to 2025
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M Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Macy's, Inc. (M) trades at a price-to-earnings ratio of 8.5x, with a stock price of $19.82 and trailing twelve-month earnings per share of $2.32.
The current P/E is 80% below its 5-year average of 43.4x. Over the past five years, M's P/E has ranged from a low of 3.4x to a high of 659.5x, placing the current valuation at the 55th percentile of its historical range.
Compared to the Consumer Cyclical sector median P/E of 19.6x, M trades at a 56% discount to its sector peers. The sector includes 302 companies with P/E ratios ranging from 0.1x to 199.0x.
Relative to the broader market, M trades at a notable discount to the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our M DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
M P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $2B | 6.1Lowest | - | +144%Best | |
| $7B | 15.7 | - | -1% | |
| $3B | 14.0 | 1.10 | -12% | |
| $4B | 22.2 | 0.81 | +35% | |
| $173B | 31.9 | 0.24 | +15% | |
| $75B | 34.6 | 0.37 | +5% | |
| $4B | 7.6 | - | -2% | |
| $4B | 8.7 | 0.64 | -2% | |
| $50B | 32.1 | 1.74 | +19% | |
| $6B | 14.2 | 0.06Best | +19% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
M Historical P/E Data (1992–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Sat Jan 31 2026 00:00:00 GM | $20.02 | $2.32 | 8.6x | -67% |
| FY2025 Q3 | Sat Nov 01 2025 00:00:00 GM | $19.49 | $1.70 | 11.5x | -56% |
| FY2025 Q2 | Sat Aug 02 2025 00:00:00 GM | $12.36 | $1.76 | 7.0x | -73% |
| FY2025 Q1 | Sat May 03 2025 00:00:00 GM | $11.95 | $1.98 | 6.0x | -77% |
| FY2024 Q4 | Fri Jan 31 2025 00:00:00 GM | $15.58 | $2.06 | 7.6x | -71% |
| FY2024 Q3 | Sat Nov 02 2024 00:00:00 GM | $15.27 | $0.59 | 25.9x | -0% |
| FY2024 Q2 | Sat Aug 03 2024 00:00:00 GM | $15.93 | $0.64 | 24.9x | -4% |
| FY2024 Q1 | Sat May 04 2024 00:00:00 GM | $19.52 | $0.03 | 659.5x | +2443% |
| FY2023 Q4 | Wed Jan 31 2024 00:00:00 GM | $18.29 | $0.37 | 49.5x | +91% |
| FY2023 Q3 | Sat Oct 28 2023 00:00:00 GM | $11.68 | $2.46 | 4.7x | -82% |
| FY2023 Q2 | Sat Jul 29 2023 00:00:00 GM | $16.27 | $2.70 | 6.0x | -77% |
| FY2023 Q1 | Sat Apr 29 2023 00:00:00 GM | $16.34 | $3.77 | 4.3x | -83% |
Average P/E for displayed period: 25.9x
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Start ComparisonM — Frequently Asked Questions
Quick answers to the most common questions about buying M stock.
Is M stock overvalued or undervalued?
M trades at 8.5x P/E, below its 5-year average of 43.4x. At the 55th percentile of historical range, the stock is priced at a discount to its own history.
How does M's valuation compare to peers?
Macy's, Inc. P/E of 8.5x compares to sector median of 19.6x. The discount suggests lower growth expectations or higher risk.
What is M's PEG ratio?
M PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1992-2025.