# Macy's Inc (M) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Consumer Cyclical / Household Durables. Price $23.05, market value $6.1 billion.

## Valuation
- **P/E (trailing): 9.5×** (5-yr avg 26.0×, 3-yr avg 40.1×). Macy's Inc trades at 9.5× trailing earnings, well below its own five-year average of 26.0×: cheap by its own standards. The Consumer Cyclical median in the September 2026 study was 19.5×. Forward P/E is 9.7×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 0.81**. A PEG of 0.81 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.3×**. Each dollar of revenue is priced at 0.3×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 1.3×**. The shares trade at 1.3× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 3.8×**. Enterprise value is 3.8× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 23.5%** (5-yr avg 20.1%). Free cash flow equals 23.5% of the market value, in line with its five-year average of 20.1%. Above 5% is generally attractive.
- **Earnings yield: 10.5%**. The inverse of the P/E: 10.5% of the price is earned each year.

## Profitability
- **Operating margin: 4.8%**. 4.8% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: 2.9%**. 2.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 13.2%**. 13.2% on shareholders' equity is solid.
- **Return on invested capital: 13.7%**. Return on all capital, debt included, is 13.7%.
- **Return on assets: 4.1%**. Each dollar of assets produces 4.1% of profit.

## Growth
- **Revenue growth (1 yr): -2.4%** (3-yr -3.8%/yr, 5-yr 4.6%/yr). Revenue fell 2.4% over the last year, against 4.6% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 12.1%** (3-yr -17.2%/yr). Earnings per share rose 12.1%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 13.3%/yr**. Free cash flow has compounded at 13.3% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.50**. Debt is 0.50 times equity, moderate leverage.
- **Net debt / EBITDA: 0.6×**. It would take 0.6 years of operating earnings to repay net borrowings, within the comfortable range.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.32%** ($0.74 per share, trailing). Macy's Inc yields 3.32%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 31%** (14% of free cash flow). 31% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 4**. 4 straight years of increases.
- **Dividend growth (5 yr): 14.0%/yr** (1-yr 4.6%). The dividend has compounded at 14.0% a year over five years, doubling roughly every 5 years at that pace.

## Analyst view
- **Analyst consensus: hold** (11 analysts). 11 analysts cover Macy's Inc; the consensus is hold, with an average price target of $23.23 (+1% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 38.8%** (YTD 6.5%, 3-mo 4.8%). The shares are up 38.8% over twelve months including dividends.
- **From 52-week high: -13.3%** (40.5% above the low). Trading 13% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 49**. An RSI of 49 is neutral.
- **Beta (1 yr): 1.24** (volatility 40%). Beta of 1.24 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=M · Page: https://foliofundamentals.com/stocks/m

Not investment advice.