Macy’s Inc (M) — Free Cash Flow Generation Index
Latest as of January 2026:
0.98x
Macy’s Inc (M) has a Free Cash Flow Generation Index of 0.98x as of January 2026. Free cash flow of $1.16 Billion represents 1% of operating cash flow ($1.18 Billion). Read Macy’s Inc debt and liabilities for a breakdown of total debt and financial obligations.
FCF Generation Index
0.98x
Free Cash Flow / Operating CF
Free Cash Flow
$1.16 Billion
USD
Operating Cash Flow
$1.18 Billion
USD
Capital Expenditures
$24.00 Million
USD
Macy’s Inc Free Cash Flow Generation Index (1993–2026)
Historical FCF Generation Index trend for Macy’s Inc across 34 annual periods. Explore M capex to operating cash flow ratio to see what proportion of operating cash flow is directed to capital expenditures.
Annual Free Cash Flow Generation for Macy’s Inc (1993–2026)
Year-by-year Free Cash Flow Generation Index for Macy’s Inc. For the full company profile including market capitalisation, see M market cap.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2026 | 0.74x | $1.06 Billion | $1.43 Billion | $373.00 Million | ▲ +24.3% |
| 2025 | 0.59x | $760.00 Million | $1.28 Billion | $518.00 Million | ▲ +148.7% |
| 2024 | 0.24x | $312.00 Million | $1.30 Billion | $993.00 Million | ▲ +20.7% |
| 2023 | 0.20x | $320.00 Million | $1.61 Billion | $1.29 Billion | ▼ -74.6% |
| 2022 | 0.78x | $2.12 Billion | $2.71 Billion | $597.00 Million | ▲ +176.6% |
| 2021 | 0.28x | $183.00 Million | $649.00 Million | $466.00 Million | ▲ +0.5% |
| 2020 | 0.28x | $451.00 Million | $1.61 Billion | $1.16 Billion | ▼ -39.4% |
| 2019 | 0.46x | $803.00 Million | $1.74 Billion | $932.00 Million | ▼ -24.0% |
| 2018 | 0.61x | $1.18 Billion | $1.94 Billion | $760.00 Million | ▲ +23.4% |
| 2017 | 0.49x | $889.00 Million | $1.80 Billion | $912.00 Million | ▲ +12.4% |
| 2016 | 0.44x | $871.00 Million | $1.98 Billion | $1.11 Billion | ▼ -27.5% |
| 2015 | 0.61x | $1.64 Billion | $2.71 Billion | $1.07 Billion | ▼ -8.4% |
| 2014 | 0.66x | $1.69 Billion | $2.55 Billion | $863.00 Million | ▲ +13.4% |
| 2013 | 0.58x | $1.32 Billion | $2.26 Billion | $942.00 Million | ▼ -8.1% |
| 2012 | 0.63x | $1.33 Billion | $2.09 Billion | $764.00 Million | ▼ -4.5% |
| 2011 | 0.66x | $1.00 Billion | $1.51 Billion | $505.00 Million | ▼ -9.8% |
| 2010 | 0.74x | $1.29 Billion | $1.75 Billion | $460.00 Million | ▲ +41.0% |
| 2009 | 0.52x | $982.00 Million | $1.88 Billion | $897.00 Million | ▲ +3.2% |
| 2008 | 0.51x | $1.13 Billion | $2.24 Billion | $1.10 Billion | ▼ -19.4% |
| 2007 | 0.63x | $2.35 Billion | $3.75 Billion | $1.39 Billion | ▼ -5.2% |
| 2006 | 0.66x | $1.29 Billion | $1.94 Billion | $656.00 Million | ▲ +4.1% |
| 2005 | 0.64x | $959.00 Million | $1.51 Billion | $548.00 Million | ▼ -6.5% |
| 2004 | 0.68x | $1.08 Billion | $1.59 Billion | $508.00 Million | ▲ +32.5% |
| 2003 | 0.51x | $600.00 Million | $1.17 Billion | $568.00 Million | ▼ -1.1% |
| 2002 | 0.52x | $665.00 Million | $1.28 Billion | $615.00 Million | ▲ +22.9% |
| 2001 | 0.42x | $543.00 Million | $1.28 Billion | $742.00 Million | ▲ +8.3% |
| 2000 | 0.39x | $493.00 Million | $1.26 Billion | $770.00 Million | ▼ -33.7% |
| 1999 | 0.59x | $995.00 Million | $1.69 Billion | $695.00 Million | ▲ +5.6% |
| 1998 | 0.56x | $877.00 Million | $1.57 Billion | $696.00 Million | ▲ +81.7% |
| 1997 | 0.31x | $374.50 Million | $1.22 Billion | $846.00 Million | ▲ +122.5% |
| 1996 | -1.37x | $-402.00 Million | $294.50 Million | $696.50 Million | ▲ +2.2% |
| 1995 | -1.40x | $-225.30 Million | $161.50 Million | $386.80 Million | ▼ -667.0% |
| 1994 | 0.25x | $101.00 Million | $410.50 Million | $309.50 Million | ▼ -55.3% |
| 1993 | 0.55x | $243.10 Million | $441.60 Million | $198.50 Million | — |
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).