Reading the tape
NYSE: M
Macy's, Inc.
Consumer Cyclical · Department Stores
Market Cap
$5.09B
52w High
$24.41
52w Low
$10.54
P/E
8.13
Volume
1.77M
Outstanding Shares
263.76M
Valuation Data Insufficient
The DCF model's fair value estimate is more than 3× the current stock price. This typically indicates unreliable model inputs — such as irregular cash flows or balance sheet distortions — rather than a genuine opportunity, so the valuation is not shown.
Price vs Fundamentals
Why The Stock Is Moving
Fundamentals are supporting the moveModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 62.12%Revenue (TTM): -1.67%FCF (TTM): 107.25%P/FCF: 23rd pct
What changed
The stock rose 62.12% over the last year. Revenue declined 1.67% over the trailing twelve months. Operating margin moved from 3.96% to 4.55%. Free cash flow grew 107.25% over the trailing twelve months.
What the market seems to be pricing
The stock move broadly lines up with stronger business momentum, and the shares are still only around the 23rd percentile of their historical P/FCF range.
What would invalidate this read
Operating margin is at 4.55%. Revenue declined 1.67% — this thesis depends on that trajectory holding. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.
Company profile
Macy's, Inc., an omni-channel retail organization, operates stores, Websites, and mobile applications.
CEOAntony Spring
SectorConsumer Cyclical
IndustryDepartment Stores
Employees94,189
IPO dateFeb 5, 1992
Valuation
Forward P/E—
EV/EBITDA4.87
Enterprise value$9.38B
Stock splits
Jun 12, 2006↑ Forward
Every 1 shares became 2
Profitability & growth
Revenue growth-1.14%
Gross margin36.55%▼9.26%vs FY2025
Operating margin4.55%▲15.24%vs FY2025
ROE13.21%▲3.32%vs FY2025
Analyst consensus
RatingHold
Target price$19.20▼0.44%
13
Buy
20
Hold
7
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 27, 2026
Q2 FY26 · EPS est $0.02 · Revenue est $4.61B
View
Dividends
$0.74/shareQuarterly3yr growth streakSafeM pays a dividend with a 3.83% dividend yield, 3 consecutive years of growth, covered 5.4× by free cash flow.
Dividend Yield
3.83%
Annual Div / Share
$0.74
5yr CAGR
-11.23%
Dividend has been cut
Payout Ratio
30.69%
Safe
Dividend Growth Rate
3yr CAGR
+5.01%
5yr CAGR
-11.23%
10yr CAGR
-6.14%
Dividend Safety
10/10Safe
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$0.74+5.0%
2024$0.70+5.0%
2023$0.67+5.0%
2022$0.64-23.6%
2021$0.83-44.7%
2019$1.51+0.0%
2018$1.51+0.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$38/yr
$3/mo
In 5 yrs
$38/yr
$3/mo
In 10 yrs
$38/yr
$3/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$38/yr $3/mo | $38/yr $3/mo | $38/yr $3/mo |
Analysis
Dividend Strengths
Well-covered by free cash flow
The dividend is covered 5.4× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Risks to Watch
Dividend has been reduced
The 5-year dividend CAGR of -11.23% is negative, indicating the payout has been cut over this period.