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Earnings transcript
Read the complete earnings call transcript.
M
Macy’s, Inc.
$24
-0.22
(-0.91%)
| Exchange: | NYSE |
| Market Cap: | 6.268B |
| Shares Outstanding: | 223.762M |
Delayed data
About The Company
| Sector: | Consumer CyclicalView sector performance | |||||
| Industry: | Department StoresView industry performance | |||||
| CEO: | Antony Spring | |||||
| Full Time Employees: | 90134 | |||||
| Address: |
| |||||
| Website: | https://www.macysinc.com |
Macy’s, Inc. is a prominent retail enterprise that employs an omnichannel strategy, serving customers through its extensive network of physical department stores, dedicated e-commerce websites, and convenient mobile applications. The company offers a broad assortment of merchandise, including apparel and accessories for men, women, and children, cosmetics, home furnishings, and other general consumer goods. As of January 29, 2022, Macy’s operated 725 department stores domestically in locations such as the District of Columbia, Puerto Rico, and Guam. These stores are branded under several well-known names like Macy’s, Macy’s Backstage, Market by Macy’s, Bloomingdale’s, Bloomingdale’s The Outlet, Bloomies, and the beauty retailer bluemercury. Internationally, Macy’s also extends its reach through licensing agreements, with operations in Dubai, United Arab Emirates, and Al Zahra, Kuwait. The company maintains a presence in the beauty and spa retail sector. Originally established in 1830, the company was previously known as Federated Department Stores, Inc. It officially changed its name to Macy’s, Inc. in June 2007, and its corporate headquarters are located in New York, New York.
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Revenue Segmentation
M full analysis
Hey everyone, welcome back to MarketSnap. Macy's just reported earnings, beat on both the top and bottom line, raised full-year guidance — and the stock dropped nearly five percent. That disconnect is exactly what we're digging into today, because when the market punishes a beat, either the guidance hides something ugly, or Mr. Market is handing out a mispriced opportunity. We're running Macy's through the full MarketSnap breakdown — revenue, earnings, financials, SWOT, and our valuation model — to figure…
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Earnings Call
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 23,866,000 | 23,006,000 | 22,621,000 |
| Gross Profit | 9,642,000 | 9,266,000 | 8,267,000 |
| EBITDA | 1,075,000 | 1,759,000 | 1,840,000 |
| Operating Income | 301,000 | 909,000 | 1,030,000 |
| Net Income | 45,000 | 582,000 | 642,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 16,246,000 | 16,402,000 | 16,238,000 |
| Total Liabilities | 12,109,000 | 11,850,000 | 10,502,000 |
| Total Stockholders Equity | 4,137,000 | 4,552,000 | 16,238,000 |
| Total Debt | 6,342,000 | 6,073,000 | 5,204,000 |
| Cash and Cash Equivalents | 1,034,000 | 1,306,000 | 1,246,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,305,000 | 1,278,000 | 1,430,000 |
| Capital Expenditure | -993,000 | -518,000 | -373,000 |
| Free Cash Flow | 312,000 | 760,000 | 1,057,000 |
| Net Income | 105,000 | 582,000 | 642,000 |
| Net Change in Cash | 172,000 | 273,000 | -61,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 18,228,601.418 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 21,999,128.214 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 20,465,253.087 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 1,709,160.058 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 1,791,836.953 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 1,750,498.505 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 662,330.867 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 729,484.422 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 695,907.645 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 6,309,886.877 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 7,615,066.413 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 7,084,110.784 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 2.520 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 2.640 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 2.400 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 3 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Positive Free Cash Flow Generation and Liquidity Position: Macy's demonstrates the ability to generate positive free cash flow, supported by a healthy cash and cash equivalents balance on the balance sheet. The company maintains a current ratio above 1.0, indicating sufficient short-term liquidity to cover near-term obligations. This financial flexibility allows the company to fund strategic initiatives and return capital to shareholders through dividends.
- Established Dividend and Shareholder Return Program: The company pays a dividend, as evidenced by the dividend yield TTM and net dividends paid in the cash flow statement. This appeals to income-focused investors within the target demographic. The consistent payment of dividends, even amid retail headwinds, signals management's commitment to returning value to shareholders.
- Brand Equity and Real Estate Holdings: As a well-known department store chain with a substantial physical footprint, Macy's holds valuable real estate assets. The company's total assets include significant property and equipment, and the brand carries recognition among consumers. This provides a foundation for potential asset monetization strategies and omnichannel retail integration.
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Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates M intrinsic value between $36.25 – $57.55 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about M valuation
Is Macy's, Inc. (M) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Macy's, Inc. (M) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is M a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether M trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is M’s P/E ratio?
You can see M’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for M?
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Is M a good long-term investment?
Whether M fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
M
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Daily snapshot
-0.91
Trading Metrics:
| Open: | 24.63 | Previous Close: | 24.22 | |
| Day Low: | 23.88 | Day High: | 24.71 | |
| Year Low: | 16.69 | Year High: | 26.59 | |
| Price Avg 50: | 22.81 | Price Avg 200: | 21.58 | |
| Volume: | 8.524M | Average Volume: | 5.962M |
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