$7.7 B

M Mkt cap, 22-Jan-2019

$5.6 B

Macy's Revenue Q2, 2018
Macy's Gross profit (Q2, 2018)2.3 B
Macy's Gross profit margin (Q2, 2018), %40.4%
Macy's Net income (Q2, 2018)164 M
Macy's EBIT (Q2, 2018)303 M
Macy's Cash, 04-Aug-20181.1 B
Macy's EV12.1 B

Macy's Revenue

Macy's revenue was $24.84 b in FY, 2017 which is a 3.7% year over year decrease from the previous period.

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Macy's Revenue Breakdown

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Macy's revenue breakdown by business segment: 16.0% from Home/Miscellaneous , 23.0% from Women’s Apparel, 38.0% from Women’s Accessories, Intimate Apparel, Shoes, Cosmetics and Fragrances and 23.0% from Men’s and Children’s

Macy's Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

28.1b27.1b25.8b24.8b

Revenue growth, %

1%(4%)(5%)(4%)

Cost of goods sold

16.9b16.5b15.6b15.2b

Gross profit

11.2b10.6b10.2b9.7b

Gross profit Margin, %

40%39%39%39%

General and administrative expense

8.4b8.3b8.3b8.1b

Operating expense total

5.6b8.5b8.8b8.1b

EBIT

2.8b2.0b1.3b1.8b

EBIT margin, %

10%8%5%7%

Interest expense

395.0m363.0m367.0m321.0m

Interest income

2.0m2.0m4.0m11.0m

Pre tax profit

2.4b1.7b952.0m1.5b

Income tax expense

864.0m608.0m341.0m(29.0m)

Net Income

1.5b1.1b611.0m1.5b

Macy's Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Cash

2.2b1.1b1.3b1.5b

Accounts Receivable

424.0m558.0m522.0m363.0m

Prepaid Expenses

493.0m479.0m408.0m448.0m

Inventories

5.4b5.5b5.4b5.2b

Current Assets

8.6b7.7b7.6b7.4b

PP&E

7.8b7.6b7.0b6.7b

Goodwill

3.7b3.9b3.9b3.9b

Total Assets

21.3b20.6b19.9b19.4b

Accounts Payable

4.7b4.9b5.0b4.8b

Short-term debt

76.0m642.0m309.0m22.0m

Current Liabilities

5.1b5.7b5.6b5.1b

Long-term debt

7.2b7.0b6.6b5.9b

Total Debt

7.3b7.6b6.9b5.9b

Total Liabilities

13.7b

Common Stock

4.0m3.0m3.0m3.0m

Additional Paid-in Capital

1.0b621.0m617.0m676.0m

Retained Earnings

7.3b6.3b6.1b7.2b

Total Equity

5.4b4.3b4.3b5.7b

Debt to Equity Ratio

1.4 x1.8 x1.6 x1 x

Debt to Assets Ratio

0.3 x0.4 x0.3 x0.3 x

Financial Leverage

4 x4.8 x4.6 x3.4 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

1.5b843.0m474.0m734.0m1.0b457.0m1.2b783.0m534.0m1.5b1.1b

Accounts Receivable

259.0m334.0m200.0m399.0m423.0m262.0m345.0m382.0m219.0m250.0m261.0m

Prepaid Expenses

471.0m437.0m426.0m490.0m471.0m454.0m397.0m412.0m432.0m638.0m580.0m

Inventories

5.9b5.5b8.0b5.7b5.3b7.6b5.6b5.0b7.1b5.3b5.0b

Current Assets

8.2b7.1b9.1b7.4b7.2b8.8b7.6b6.6b8.3b7.7b6.9b

PP&E

7.7b7.7b7.6b7.5b7.2b7.1b6.9b6.8b6.7b6.6b6.5b

Goodwill

3.9b3.9b3.9b3.9b3.9b3.9b3.9b3.9b3.9b3.9b3.9b

Total Assets

21.0b20.0b21.9b20.2b19.7b21.3b19.6b18.6b20.2b19.6b18.7b

Accounts Payable

4.8b4.2b6.3b4.7b4.4b6.3b4.9b4.5b6.3b4.7b2.6b

Short-term debt

76.0m83.0m857.0m642.0m1.1b938.0m313.0m16.0m22.0m25.0m63.0m

Current Liabilities

4.9b4.4b7.3b5.3b5.5b7.2b5.6b4.6b6.4b5.1b4.5b

Long-term debt

7.2b7.2b7.1b7.0b6.6b6.6b6.4b6.3b6.3b5.9b5.5b

Total Debt

7.3b7.2b7.9b7.6b7.6b7.5b6.7b6.3b6.3b5.9b5.5b

Total Liabilities

13.8b12.8b

Total Equity

5.2b4.8b4.0b4.2b4.1b3.8b4.3b4.4b4.2b5.8b5.9b

Debt to Equity Ratio

1.4 x1.5 x2 x1.8 x1.9 x2 x1.6 x1.4 x1.5 x1 x0.9 x

Debt to Assets Ratio

0.3 x0.4 x0.4 x0.4 x0.4 x0.4 x0.3 x0.3 x0.3 x0.3 x0.3 x

Financial Leverage

4 x4.1 x5.5 x4.9 x4.9 x5.6 x4.6 x4.2 x4.8 x3.4 x3.2 x

Macy's Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

1.5b1.1b611.0m1.5b

Depreciation and Amortization

1.0b1.1b1.1b946.0m

Accounts Receivable

22.0m(45.0m)(1.0m)120.0m

Inventories

44.0m(60.0m)107.0m221.0m

Accounts Payable

108.0m(10.0m)(294.0m)(17.0m)

Cash From Operating Activities

2.7b2.0b1.8b1.9b

Purchases of PP&E

(770.0m)(777.0m)(596.0m)(487.0m)

Cash From Investing Activities

(970.0m)(1.1b)(187.0m)(373.0m)

Long-term Borrowings

(870.0m)(152.0m)(751.0m)(954.0m)

Dividends Paid

(421.0m)(456.0m)(459.0m)(461.0m)

Cash From Financing Activities

(1.8b)(2.0b)(1.4b)(1.4b)

Net Change in Cash

(27.0m)(1.1b)188.0m158.0m

Interest Paid

413.0m383.0m396.0m361.0m

Income Taxes Paid

834.0m635.0m352.0m496.0m

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

193.0m410.0m527.0m115.0m124.0m139.0m70.0m183.0m216.0m131.0m296.0m

Depreciation and Amortization

259.0m520.0m791.0m260.0m520.0m787.0m243.0m487.0m741.0m235.0m470.0m

Accounts Receivable

167.0m92.0m226.0m158.0m99.0m237.0m170.0m119.0m274.0m105.0m88.0m

Inventories

(483.0m)(50.0m)(2.5b)(232.0m)184.0m2.1b(227.0m)419.0m(1.7b)(115.0m)221.0m

Accounts Payable

178.0m(312.0m)1.4b(74.0m)(327.0m)1.3b22.0m(279.0m)1.3b(29.0m)219.0m

Cash From Operating Activities

53.0m398.0m278.0m8.0m560.0m308.0m234.0m536.0m389.0m322.0m544.0m

Purchases of PP&E

(180.0m)(367.0m)(591.0m)(153.0m)(293.0m)(451.0m)(117.0m)(247.0m)(359.0m)(132.0m)(275.0m)

Cash From Investing Activities

(381.0m)(615.0m)(861.0m)(211.0m)(338.0m)(491.0m)(60.0m)(213.0m)(346.0m)(156.0m)(312.0m)

Long-term Borrowings

(3.0m)(72.0m)(152.0m)(3.0m)(3.0m)(174.0m)(149.0m)(550.0m)(554.0m)(3.0m)(357.0m)

Dividends Paid

(106.0m)(227.0m)(344.0m)(112.0m)(228.0m)(344.0m)(115.0m)(230.0m)(346.0m)(116.0m)(232.0m)

Cash From Financing Activities

(409.0m)(1.2b)(1.2b)(172.0m)(331.0m)(469.0m)(270.0m)(837.0m)(806.0m)(99.0m)(636.0m)

Net Change in Cash

(737.0m)(1.4b)(1.8b)(375.0m)(109.0m)(652.0m)(96.0m)(514.0m)(763.0m)67.0m(404.0m)

Interest Paid

81.0m194.0m274.0m80.0m200.0m279.0m76.0m183.0m251.0m65.0m156.0m

Income Taxes Paid

314.0m450.0m474.0m257.0m292.0m308.0m16.0m401.0m412.0m8.0m319.0m

Macy's Ratios

USDY, 2018

EV/EBIT

40 x

EV/CFO

22.3 x

Debt/Equity

0.9 x

Debt/Assets

0.3 x

Financial Leverage

3.2 x
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Macy's Operating Metrics

Macy's's Stores was reported to be 860 in Q2, 2018.
Q4, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016Q1, 2017Q2, 2017Q3, 2017Q4, 2017Q1, 2018Q2, 2018

Stores

823 886 887 901 868 874 879 888 829 841 854 861 852 850 860

Department Stores

737 673 660 690

Owned Stores

426 382 370
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Macy's Human Capital

Macy's's employees are reported to be approximately 75% female and 25% male.

Ethnicity

Y, 2017
Racial minorities amongst employees61.6 %
Ethnically Diverse Managers38.4 %

Job Roles

Y, 2017Y, 2016
Male Management Percent35 %36 %
Female Management Percent65 %64 %

Gender

Y, 2017Y, 2016
Male25 %25 %
Female75 %75 %
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