What is Macy's's debt-to-equity?

Macy's (M) reported debt-to-equity of 0.5× in Q1 2026.

How has Macy's's debt-to-equity changed year-over-year?

Macy's's debt-to-equity decreased by 19.5% year-over-year, from 0.6× to 0.5×.

What is the long-term trend for Macy's's debt-to-equity?

Over 5 years (2020 to 2025), Macy's's debt-to-equity has grown at a -18.7% compound annual growth rate (CAGR), from 3.2× to 1.1×.

What does debt-to-equity mean?

Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

Macy's M Debt-to-equity

Debt-to-equity at other companies

TargetTGT

1.1×-0.1×

DillardsDDS

0.2×0.0×

TJX CompaniesTJX

1.4×-0.2×

Ross StoresROST

0.7×-0.2×

Ulta Beauty, Inc.ULTA

0.9×+0.1×

Burlington StoresBURL

3.2×-0.8×

Other financials

Income statement

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Revenue$4.9B+2.1%

Gross profit$2.0B+1.7%

Operating income$112.0M+19.1%

Net income$63.0M+65.8%

EPS (diluted)$0.23+76.9%

Balance sheet

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Cash & equivalents$1.3B+38.8%

Total debt$2.4B-12.5%

Total equity$4.8B+8.7%

Total assets$16.3B+1.3%

Cash flow

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Operating cash flow$292.0M+556%

CapEx$88.0M-12.0%

Free cash flow$204.0M+224%

Valuation

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Market cap$6.35B+71.1%

Enterprise value$7.49B+32.2%

P/E9.5×+2.9×

P/S0.3×+0.1×

Profitability

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Gross margin40.3%-0.1pp

Operating margin4.6%+0.8pp

Net margin2.9%+0.5pp

FCF margin6.3%+3.5pp

Returns & leverage

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Return on equity14.4%+1.3pp

Current ratio1.5×0.0×

Where this comes from

Calculated from Macy's’s reported figures.

total debt/total stockholders equity=0.5×

Based on the most recent quarter.

The official record: Macy's’s 10-Q, filed June 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Macy's's debt-to-equity?: Macy's (M) reported debt-to-equity of 0.5× in Q1 2026.
How has Macy's's debt-to-equity changed year-over-year?: Macy's's debt-to-equity decreased by 19.5% year-over-year, from 0.6× to 0.5×.
What is the long-term trend for Macy's's debt-to-equity?: Over 5 years (2020 to 2025), Macy's's debt-to-equity has grown at a -18.7% compound annual growth rate (CAGR), from 3.2× to 1.1×.
What does debt-to-equity mean?: Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.