Stocks · Consumer Cyclical · Department Stores
Macy's, Inc. M
$22.73 -0.13% Close, Oct 2, 2026 · NYSE · Market cap $5.98B
Strong trendInexpensive vs sector
Next earnings report: Dec 2, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Earnings beat analyst estimates in each of the last 11 quarters (average surprise over the last four: +100.0%).
- Diluted EPS over the last four quarters was $2.72, up 54.6% year over year.
- Revenue over the last four quarters was $22.78B, up 0.3% from a year earlier.
PromtFinance scores
Each score is a percentile within the Consumer Cyclical sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth62Neutral
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 34%
- EPS growth (TTM, YoY)Top 17%
- FCF growth (TTM, YoY)Top 20%
- Revenue growth, 3-year CAGRBottom 22%
- Revenue growth accelerationTop 37%
Quality69Positive
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 43%
- Gross marginTop 50%
- Operating marginBottom 43%
- Cash conversion (OCF / net income)Top 34%
- Accruals (lower is better)Top 42%
- Net debt / EBITDA (lower is better)Top 37%
- Interest coverTop 27%
Value98Exceptional
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 7%
- Free-cash-flow yieldTop 4%
- EBITDA / enterprise valueTop 3%
- Sales / enterprise valueTop 8%
- P/E vs own 5-year history (lower is better)Bottom 47%
Momentum85Strong
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 23%
- 6-month returnTop 22%
- 1-year return vs S&P 500Top 20%
- Distance from 52-week highTop 21%
- Trend checklist (0–4)Top 20%
Revisions60Neutral
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 6%
- Consecutive EPS beatsTop 8%
- Share of analysts rating BuyBottom 19%
- Upside to consensus price targetBottom 15%
Stability59Neutral
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 40%
- Maximum drawdown, 3 yearsTop 46%
- Beta vs S&P 500 (lower is better)Top 47%
- Net debt / EBITDA (lower is better)Top 37%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -0.3% | 0.3% | ↑ |
| EPS growth (YoY) | 21.7% | 54.6% | ↑ |
| Gross margin | 40.3% | 36.0% | ↓ |
| Operating margin | 3.6% | 4.9% | ↑ |
| FCF margin | 3.5% | 6.5% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 0.3% | -0.3% | ↑ | Bottom 34% |
| EPS growth (TTM, YoY) | 54.6% | 21.7% | ↑ | Top 17% |
| Gross margin | 36.0% | 40.3% | ↓ | Top 50% |
| Operating margin | 4.9% | 3.6% | ↑ | Bottom 43% |
| Net margin | 3.3% | 2.2% | ↑ | — |
| Free-cash-flow margin | 6.5% | 3.5% | ↑ | — |
| Return on invested capital | 7.2% | — | Top 43% | |
| Revenue growth, 3-year CAGR | -3.9% | — | Bottom 22% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 2.35×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -6.4%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 0.5%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +37.6 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 1.86×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 12.0×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 3.31%
- Net buyback yield (TTM)
- -0.80%
- Shareholder yield
- 2.51%
- Share count change, 1 year
- -2.3%
- Share count change, 3-year CAGR
- -0.2%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Aug 1, 2026 (filed Sep 10, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 11
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +100.0%
- Average 2-day reaction, last 8
- +2.3%
- Positive 20 days after report
- 3 of 7
Analysts
- Consensus price target
- $24.25
- Target vs current price
- +6.7%
- Analysts with a rating
- 41
- Share rating Buy or Strong Buy
- 32%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Sep 10, 2026 | +70.0% | -4.7% | +1.4% | — | — |
| Jun 3, 2026 | +324.3% | +0.6% | +2.4% | +8.1% | +3.9% |
| Mar 18, 2026 | +9.2% | +4.7% | +8.6% | +13.2% | +48.0% |
| Dec 3, 2025 | +168.8% | -1.1% | -0.6% | -2.9% | -17.2% |
| Sep 3, 2025 | +115.8% | +20.7% | +27.6% | +32.9% | +62.0% |
| May 28, 2025 | +6.8% | -0.3% | -4.6% | -8.5% | +7.5% |
| Mar 6, 2025 | +16.1% | -0.7% | +4.6% | -0.9% | -10.7% |
| Dec 11, 2024 | +500.0% | -0.8% | +0.1% | -5.3% | -18.0% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Sep 10, 2026 | $0.63 | $0.37 | +70.0% | $4.87B |
| Jun 3, 2026 | $0.13 | $0.03 | +324.3% | $4.68B |
| Mar 18, 2026 | $1.67 | $1.53 | +9.2% | $7.64B |
| Dec 3, 2025 | $0.09 | -$0.13 | +168.8% | $4.91B |
| Sep 3, 2025 | $0.41 | $0.19 | +115.8% | $5.00B |
| May 28, 2025 | $0.16 | $0.15 | +6.8% | $4.79B |
| Mar 6, 2025 | $1.80 | $1.55 | +16.1% | $8.01B |
| Dec 11, 2024 | $0.04 | -$0.01 | +500.0% | $4.90B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 8.4× | 7.5× | 57th | Top 7% |
| P/E (forward) | 9.8× | — | — | — |
| EV / EBITDA | 4.8× | — | — | Top 3% |
| EV / Sales | 0.43× | — | — | Top 8% |
| Free-cash-flow yield | 24.94% | — | — | Top 4% |
| Earnings yield | 11.97% | — | — | Top 7% |
P/E over the past five years
Range 3.6× – 54.8× since Jul 31, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +26.6%
- Earnings per share growth (TTM)
- +54.6%
- Change in P/E multiple
- -22.1%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 16
- 50-day average slope (20 days)
- -2.3%
- 200-day average slope (20 days)
- +0.2%
- Distance from 50-day average
- -2.0%
- Distance from 200-day average
- +5.3%
- RSI (14)
- 51.2
- Relative volume
- 0.66×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 37.4%
- Volatility vs own 5-year history
- 6th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.00
- Correlation with S&P 500
- 0.33
- Current drawdown from 1-year high
- -13.3%
- Maximum drawdown, 3 years
- -53.5%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Nov 18, 2021 | Apr 8, 2025 | -73.2% | 848 days | Not yet recovered |
| Mar 15, 2021 | Mar 24, 2021 | -26.5% | 7 days | 103 days (Aug 19, 2021) |
| Jan 27, 2021 | Feb 2, 2021 | -22.7% | 4 days | 27 days (Mar 12, 2021) |
| Oct 23, 2020 | Nov 2, 2020 | -15.9% | 6 days | 5 days (Nov 9, 2020) |
| Dec 4, 2020 | Dec 22, 2020 | -13.6% | 12 days | 5 days (Dec 30, 2020) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $5.98B
- P/E (TTM)
- 8.4
- EPS, diluted (TTM)
- $2.72
- Revenue (TTM)
- $22.78B
- Dividend yield
- 3.33%
- 52-week range
- $16.41 – $26.59
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $25.40B | $25.45B | $23.87B | $23.01B | $22.62B |
| Gross profit | $10.44B | $10.10B | $9.64B | $9.27B | $8.27B |
| Operating income | $2.35B | $1.69B | $301.0M | $909.0M | $1.03B |
| Net income | $1.43B | $1.15B | $45.0M | $582.0M | $642.0M |
| EPS (diluted) | $4.55 | $4.19 | $0.16 | $2.07 | $2.32 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.90B | $8.01B | $4.79B | $5.00B | $4.91B | $7.92B | $4.89B | $5.06B |
| Net income | $28.0M | $342.0M | $38.0M | $87.0M | $11.0M | $506.0M | $63.0M | $169.0M |
| EPS (diluted) | $0.10 | $1.21 | $0.14 | $0.31 | $0.04 | $1.83 | $0.23 | $0.62 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $2.71B | $1.61B | $1.30B | $1.28B | $1.43B |
| Capital expenditure | -$597.0M | -$1.29B | -$993.0M | -$518.0M | -$373.0M |
| Free cash flow | $2.12B | $320.0M | $312.0M | $760.0M | $1.06B |
| Dividends paid | -$90.0M | -$173.0M | -$181.0M | -$192.0M | -$197.0M |
| Net share buybacks | -$493.0M | -$601.0M | -$38.0M | -$1.0M | -$250.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $1.29B
- Total assets
- $15.73B
- Total liabilities
- $10.80B
- Total debt
- $5.09B
- Net debt
- $3.79B
- Shareholders’ equity
- $4.93B
As of Aug 1, 2026 (filed Sep 10, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 15, 2026 | $0.19 | Oct 1, 2026 |
| Jun 15, 2026 | $0.19 | Jul 1, 2026 |
| Mar 13, 2026 | $0.19 | Apr 1, 2026 |
| Dec 15, 2025 | $0.18 | Jan 2, 2026 |
| Sep 15, 2025 | $0.18 | Oct 1, 2025 |
| Jun 13, 2025 | $0.18 | Jul 1, 2025 |
| Mar 14, 2025 | $0.18 | Apr 1, 2025 |
| Dec 13, 2024 | $0.17 | Jan 2, 2025 |
Short interest
- Shares sold short
- 35,649,331
- Days to cover
- 4.45
- Change vs previous report
- +10.2%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Jun 12, 2006
- 2-for-1