What is Macy's's net margin?

Macy's (M) reported net margin of 2.9% in Q1 2026.

How has Macy's's net margin changed year-over-year?

Macy's's net margin increased by 20.1% year-over-year, from 2.4% to 2.9%.

What is the long-term trend for Macy's's net margin?

Over 5 years (2020 to 2025), Macy's's net margin has grown at a -34.0% compound annual growth rate (CAGR), from -22.7% to 2.8%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Macy's M Net margin

Net margin at other companies

TargetTGT

3.2%-0.7pp

DillardsDDS

9.9%+1.2pp

TJX CompaniesTJX

9.4%+0.9pp

Ross StoresROST

9.7%-0.1pp

Ulta Beauty, Inc.ULTA

9.4%-1.1pp

Burlington StoresBURL

5.2%+0.4pp

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

FCF margin6.3%+3.5pp

Returns & leverage

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Return on equity14.4%+1.3pp

Debt / equity0.5×-0.1×

Current ratio1.5×0.0×

Where this comes from

Calculated from Macy's’s reported figures.

net income/total revenue=2.9%

Based on trailing twelve months.

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 net margin?: Macy's (M) reported net margin of 2.9% in Q1 2026.
How has Macy's's net margin changed year-over-year?: Macy's's net margin increased by 20.1% year-over-year, from 2.4% to 2.9%.
What is the long-term trend for Macy's's net margin?: Over 5 years (2020 to 2025), Macy's's net margin has grown at a -34.0% compound annual growth rate (CAGR), from -22.7% to 2.8%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.