NYSE · M
Macy's, Inc.
Consumer Cyclical · Department Stores
$22.73▼ 0.15% ($0.03)at close
As of 4:00 PM ET
Market cap
$5.98B
P/E
8.25
EPS (TTM)
$2.75
Next earnings
Dec 2, 2026
Valuation
Revenue & margin DCF
Verdict: cheap. Price below all scenarios.
The price holds with revenue shrinking 8.3% a year for 10 years. Our scenarios assume 0.6–4.4%.
Its past 4 years averaged −2.9% a year.
Value per share
Base case
$43.73
Price used $22.73 is 48% below this
USD · TTM ending Aug 1, 2026 · Price Oct 2, 8:00 PM UTC
Revenue each value needs
Revenue today $22.8B. The price needs $9.5B by 2036. Base case: $24.7B. At its recent pace: $17.1B. Bear to Bull: $24.2B to $35B.
Revenue today $22.8B. The price needs $9.5B by 2036. Base case: $24.7B. At its recent pace: $17.1B. Bear to Bull: $24.2B to $35B.
Revenue in 2036
today $22.8B
−$15.1Bless than the Base case
Value per share · Base case
$43.73
Price $22.73
48% below this
- 10-yr revenue CAGR
- 0.8%
- Ending operating margin
- 4.9%
- Discount rate
- 10.3%
USD · TTM ending Aug 1, 2026 · Price Oct 2, 8:00 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 24.96% over the last year. Revenue grew 0.34% over the trailing twelve months. Operating margin moved from 3.58% to 4.88%. Free cash flow grew 85.45% 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 14th percentile of their historical P/FCF range.
What would invalidate this read
Operating margin is at 4.88%. Revenue grew 0.34% — 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.
Return analysis
Company profile
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.
Market multiples
Stock splits
Every 1 shares became 2
Profitability & growth
Analyst consensus
13
Buy
21
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
Dec 2, 2026
Q3 FY26 · EPS est -$0.19 · Revenue est $4.67B
View
Institutional Sentiment
Macy's, Inc. · M
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.