Macy's M
United StatesConsumer Cyclical · Department StoresUSD
23.36 USD (+2.5%)
11 analysts
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Macy's Inc. is an American department store chain that operates physical stores and an e-commerce platform, selling a wide range of fashion, accessories, home, and beauty products.
Key points
from its scores- ✓Good share-price trend8.9
- ✓Attractive valuation7.9
- ✓Attractive dividend7.2
- ✕Unfavourable risk and backdrop3.5
- ✕Fragile balance sheet4.8
AI analysis
bottom line, main risk, context and newsThe cheap valuation and high dividend provide support, but the lack of revenue growth and weak operating margin limit the long-term upside potential.
Macy's trades at an attractive valuation (P/E 8.35, FCF yield 10.16%) and has strong momentum (37.33%), but its financial health is mediocre (score 4.77) with a very low operating margin (3.20%) and almost flat revenue growth (1.20%). The 100% earnings growth is likely a mirage from a base effect, not a sustainable trend.
The main risk is the structural erosion of the department store model due to e-commerce competition and changing consumer habits, which pressures margins (3.20%) and limits revenue growth (1.20%).
Context and risks
Macy's operates in the department store sector, a segment with intense competition from e-commerce platforms and structural pressure on foot traffic in physical stores. Although the company has no known specific litigation or regulatory risks, the business model risk is material: retail transformation and potential technological disruption are credible threats to its market share and margins.
Is Macy's stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 46% below the Consumer Cyclical median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 8.3 | 17.8 | −53% |
| EV / EBITDA | 7.0 | 11.2 | −38% |
| Price / book | 1.2 | 2.9 | −58% |
| Price / sales | 0.3 | 1.3 | −79% |
Sector: median of the 228 Consumer Cyclical companies analysed. In bold, the multiples used for the comparison.
Valuation score: 7.9 out of 10 (median for Consumer Cyclical: 6.6).
Average analyst target: 23.36 USD, +2.5% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 4.8 (sector 5.7), Growth 6.8 (sector 5.9).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Consumer Cyclical medianValuation
- P/E
- 8.3
- Forward P/E
- 9.5
- EV / EBITDA
- 7.0
- Price / book
- 1.2
- Price / sales
- 0.3
- PEG
- 2.62
- Market cap
- 6.0B USD
- Enterprise value
- 9.7B USD
Profitability
- ROE
- 16.0%
- ROA
- 3.5%
- ROIC (approx.)
- 7.3%
- Gross margin
- 40.3%
- Operating margin
- 3.2%
- Net margin
- 3.3%
- Free cash flow
- 605.0M USD
- FCF yield
- 10.2%
- Cash conversion
- 43%
Solvency
- Total debt
- 5.1B USD
- Net debt
- 3.8B USD
- Cash
- 1.3B USD
- EBITDA
- 1.4B USD
- Net debt / EBITDA
- 2.71
- Debt / equity
- 103.27
- Current ratio
- 1.59
- Quick ratio
- 0.38
Growth
- Revenue growth
- +1.2%
- Earnings growth
- +100.0%
- EPS (TTM)
- 2.73 USD
- EPS (forward)
- 2.39 USD
Dividend
- Dividend yield
- 3.4%
- Payout
- 27.4%
Risk and market
- Beta
- 1.47
- Analyst consensus
- Hold (11)
- Target price
- 23.36 USD
- 52-week range
- 16.41 – 26.59
Recent news
All M news →Compare it with its sector
All 228 in Consumer Cyclical →Frequently asked questions about Macy's
Is Macy's stock cheap or expensive?
On P/E and EV / EBITDA, it trades 46% below the Consumer Cyclical median on average. Valuation score: 7.9 out of 10 (median for Consumer Cyclical: 6.6). Average analyst target: 23.36 USD, +2.5% versus the price. This is not investment advice.
What score does Macy's get on MeridIAn Screener?
It scores 6.1 out of 10, rank 912 of 2,130 (better than 55% of the companies analysed). Its strongest category is Momentum (8.9) and its weakest, Risk & Context (3.5). Analysis of 08/10/2026.
What is Macy's's P/E ratio?
Its P/E is 8.3: the share price equals 8.3 times earnings per share over the last 12 months. The Consumer Cyclical median is 17.8. Based on the earnings analysts expect, the forward P/E is 9.5.
How much is Macy's worth on the stock market?
Its market capitalisation is 6.0B USD and its enterprise value, debt included, is 9.7B USD.
How much debt does Macy's have?
Its net debt (debt minus cash) is 3.8B USD. That is 2.71 times its EBITDA; the Consumer Cyclical median is 1.91.
Does Macy's pay a dividend?
Yes: its dividend yield is 3.38% and it pays out 27% of its earnings.
How has Macy's stock performed over the last year?
It has risen 43.0% over the last year, excluding dividends. Over the last 52 weeks it has traded between 16.41 and 26.59 USD. Past performance does not guarantee future results.
What do analysts think of Macy's?
11 analysts cover it; their average recommendation is “Hold” and their average target is 23.36 USD (+2.5% versus the price). It is an estimate, not market data.