Macy’s Inc
Macy's, Inc., an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. It sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and Bluemercury brands. The company also operates in Dubai, the United Arab Emirates, and Al Zah… Read more
Macy’s Inc (M) - Net Assets
Latest net assets as of October 2025: $4.33 Billion USD
Based on the latest financial reports, Macy’s Inc (M) has net assets worth $4.33 Billion USD as of October 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($17.06 Billion) and total liabilities ($12.74 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $4.33 Billion |
| % of Total Assets | 25.36% |
| Annual Growth Rate | 2.49% |
| 5-Year Change | 78.3% |
| 10-Year Change | 7.03% |
| Growth Volatility | 29.89 |
Macy’s Inc - Net Assets Trend (1993–2025)
This chart illustrates how Macy’s Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Macy’s Inc (1993–2025)
The table below shows the annual net assets of Macy’s Inc from 1993 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-01-31 | $4.55 Billion | +12.81% |
| 2024-01-31 | $4.04 Billion | -1.15% |
| 2023-01-31 | $4.08 Billion | +12.73% |
| 2022-01-31 | $3.62 Billion | +41.83% |
| 2021-01-31 | $2.55 Billion | -59.97% |
| 2020-01-31 | $6.38 Billion | -0.92% |
| 2019-01-31 | $6.44 Billion | +13.69% |
| 2018-01-31 | $5.66 Billion | +30.98% |
| 2017-01-31 | $4.32 Billion | +1.62% |
| 2016-01-31 | $4.25 Billion | -20.92% |
| 2015-01-31 | $5.38 Billion | -13.84% |
| 2014-01-31 | $6.24 Billion | +3.16% |
| 2013-01-31 | $6.05 Billion | +1.99% |
| 2012-01-31 | $5.93 Billion | +7.29% |
| 2011-01-31 | $5.53 Billion | +17.63% |
| 2010-01-31 | $4.70 Billion | +1.18% |
| 2009-01-31 | $4.65 Billion | -53.10% |
| 2008-01-31 | $9.91 Billion | -19.15% |
| 2007-01-31 | $12.25 Billion | -9.36% |
| 2006-01-31 | $13.52 Billion | +119.22% |
| 2005-01-31 | $6.17 Billion | +3.82% |
| 2004-01-31 | $5.94 Billion | +3.09% |
| 2003-01-31 | $5.76 Billion | +3.56% |
| 2002-01-31 | $5.56 Billion | -4.43% |
| 2001-01-31 | $5.82 Billion | -11.14% |
| 2000-01-31 | $6.55 Billion | +14.77% |
| 1999-01-31 | $5.71 Billion | +8.62% |
| 1998-01-31 | $5.26 Billion | +12.57% |
| 1997-01-31 | $4.67 Billion | +9.25% |
| 1996-01-31 | $4.27 Billion | +17.42% |
| 1995-01-31 | $3.64 Billion | +59.76% |
| 1994-01-31 | $2.28 Billion | +9.79% |
| 1993-01-31 | $2.08 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Macy’s Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 5651.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (January 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $6.50 Billion | 142.77% |
| Common Stock | $3.00 Million | 0.07% |
| Other Comprehensive Income | $-449.00 Million | -9.86% |
| Total Equity | $4.55 Billion | 100.00% |
Macy’s Inc Competitors by Market Cap
The table below lists competitors of Macy’s Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Belden Inc
NYSE:BDC
|
$4.48 Billion |
|
Axos Financial Inc
NYSE:AX
|
$4.49 Billion |
|
Kiwoom
KO:039490
|
$4.49 Billion |
|
Fresenius Medical Care Corporation
NYSE:FMS
|
$4.49 Billion |
|
Tele2 AB
PINK:TLTZY
|
$4.48 Billion |
|
Korean Air Lines Co
KO:003490
|
$4.48 Billion |
|
HDLMY
PINK:HDLMY
|
$4.48 Billion |
|
SM Prime Holdings Inc
PINK:SPHXF
|
$4.48 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Macy’s Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,035,000,000 to 4,552,000,000, a change of 517,000,000 (12.8%).
- Net income of 582,000,000 contributed positively to equity growth.
- Dividend payments of 192,000,000 reduced retained earnings.
- Share repurchases of 1,000,000 reduced equity.
- Other comprehensive income increased equity by 47,000,000.
- Other factors increased equity by 81,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $582.00 Million | +12.79% |
| Dividends Paid | $192.00 Million | -4.22% |
| Share Repurchases | $1.00 Million | -0.02% |
| Other Comprehensive Income | $47.00 Million | +1.03% |
| Other Changes | $81.00 Million | +1.78% |
| Total Change | $- | 12.81% |
Book Value vs Market Value Analysis
This analysis compares Macy’s Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.05x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 1.82x to 1.05x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1993-01-31 | $9.27 | $16.92 | x |
| 1994-01-31 | $8.84 | $16.92 | x |
| 1995-01-31 | $13.58 | $16.92 | x |
| 1996-01-31 | $11.17 | $16.92 | x |
| 1997-01-31 | $10.88 | $16.92 | x |
| 1998-01-31 | $11.82 | $16.92 | x |
| 1999-01-31 | $12.76 | $16.92 | x |
| 2000-01-31 | $14.92 | $16.92 | x |
| 2001-01-31 | $14.08 | $16.92 | x |
| 2002-01-31 | $13.94 | $16.92 | x |
| 2003-01-31 | $14.50 | $16.92 | x |
| 2004-01-31 | $15.90 | $16.92 | x |
| 2005-01-31 | $17.27 | $16.92 | x |
| 2006-01-31 | $31.11 | $16.92 | x |
| 2007-01-31 | $22.37 | $16.92 | x |
| 2008-01-31 | $21.93 | $16.92 | x |
| 2009-01-31 | $11.03 | $16.92 | x |
| 2010-01-31 | $11.11 | $16.92 | x |
| 2011-01-31 | $12.94 | $16.92 | x |
| 2012-01-31 | $13.78 | $16.92 | x |
| 2013-01-31 | $14.68 | $16.92 | x |
| 2014-01-31 | $16.22 | $16.92 | x |
| 2015-01-31 | $14.87 | $16.92 | x |
| 2016-01-31 | $12.76 | $16.92 | x |
| 2017-01-31 | $13.91 | $16.92 | x |
| 2018-01-31 | $18.49 | $16.92 | x |
| 2019-01-31 | $20.67 | $16.92 | x |
| 2020-01-31 | $20.48 | $16.92 | x |
| 2021-01-31 | $8.21 | $16.92 | x |
| 2022-01-31 | $11.53 | $16.92 | x |
| 2023-01-31 | $14.52 | $16.92 | x |
| 2024-01-31 | $14.50 | $16.92 | x |
| 2025-01-31 | $16.16 | $16.92 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Macy’s Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.79%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.53%
- • Asset Turnover: 1.40x
- • Equity Multiplier: 3.60x
- Recent ROE (12.79%) is above the historical average (4.62%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1993 | 5.45% | 1.60% | 1.01x | 3.38x | $-94.50 Million |
| 1994 | 8.48% | 2.67% | 0.97x | 3.26x | $-34.52 Million |
| 1995 | 5.15% | 2.26% | 0.67x | 3.40x | $-176.36 Million |
| 1996 | 1.75% | 0.50% | 1.05x | 3.34x | $-352.77 Million |
| 1997 | 5.70% | 1.75% | 1.07x | 3.05x | $-200.92 Million |
| 1998 | 10.20% | 3.52% | 1.11x | 2.61x | $10.40 Million |
| 1999 | 11.60% | 4.31% | 1.14x | 2.36x | $91.10 Million |
| 2000 | 12.13% | 4.96% | 0.91x | 2.70x | $139.80 Million |
| 2001 | -3.16% | -1.11% | 0.98x | 2.92x | $-766.20 Million |
| 2002 | -4.96% | -1.76% | 1.04x | 2.70x | $-832.40 Million |
| 2003 | 14.20% | 5.30% | 1.07x | 2.51x | $241.80 Million |
| 2004 | 11.67% | 4.54% | 1.05x | 2.45x | $99.00 Million |
| 2005 | 11.17% | 4.37% | 1.06x | 2.41x | $72.30 Million |
| 2006 | 10.40% | 6.28% | 0.68x | 2.45x | $54.10 Million |
| 2007 | 8.12% | 3.69% | 0.91x | 2.41x | $-230.40 Million |
| 2008 | 9.01% | 3.39% | 0.95x | 2.80x | $-97.70 Million |
| 2009 | -103.38% | -19.30% | 1.12x | 4.77x | $-5.27 Billion |
| 2010 | 7.00% | 1.40% | 1.10x | 4.53x | $-141.10 Million |
| 2011 | 15.32% | 3.39% | 1.21x | 3.73x | $294.00 Million |
| 2012 | 21.17% | 4.76% | 1.20x | 3.72x | $662.70 Million |
| 2013 | 22.06% | 4.82% | 1.32x | 3.47x | $729.90 Million |
| 2014 | 23.81% | 5.32% | 1.29x | 3.46x | $861.80 Million |
| 2015 | 28.37% | 5.43% | 1.31x | 3.99x | $988.20 Million |
| 2016 | 25.22% | 3.96% | 1.32x | 4.84x | $647.00 Million |
| 2017 | 14.50% | 2.36% | 1.34x | 4.59x | $194.70 Million |
| 2018 | 27.60% | 6.11% | 1.32x | 3.42x | $998.70 Million |
| 2019 | 17.22% | 4.30% | 1.34x | 2.98x | $464.40 Million |
| 2020 | 8.84% | 2.23% | 1.20x | 3.32x | $-73.70 Million |
| 2021 | -154.48% | -21.79% | 1.02x | 6.94x | $-4.20 Billion |
| 2022 | 39.49% | 5.63% | 1.44x | 4.86x | $1.07 Billion |
| 2023 | 28.83% | 4.93% | 1.42x | 4.13x | $768.80 Million |
| 2024 | 1.12% | 0.19% | 1.47x | 4.03x | $-358.50 Million |
| 2025 | 12.79% | 2.53% | 1.40x | 3.60x | $126.80 Million |
Industry Comparison
This section compares Macy’s Inc's net assets metrics with peer companies in the Department Stores industry.
Industry Context
- Industry: Department Stores
- Average net assets among peers: $1,593,724,061,118
- Average return on equity (ROE) among peers: 8.35%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Macy’s Inc (M) | $4.33 Billion | 5.45% | 2.94x | $4.48 Billion |
| Bon-Ton Stores Inc (BONTQ) | $127.96 Million | -2.78% | 11.33x | $1.79K |
| Companhia Brasileira De Distribuicao (CBDBY) | $16.38 Billion | 4.90% | 2.02x | $89.70 Million |
| Dillard's, Inc. (DDS) | $1.97 Billion | 17.05% | 1.06x | $4.25 Billion |
| El Puerto de Liverpool S.A.B. de C.V (ELPQF) | $27.07 Billion | 14.15% | 0.83x | $6.60 Billion |
| Almacenes Ãxito S.A. (EXTO) | $15.83 Trillion | 3.62% | 2.28x | $591.47 Million |
| Foschini Group Ltd (The) (FHHGF) | $21.65 Billion | 13.97% | 1.45x | $1.64 Billion |
| The Foschini Group Limited (FHNGY) | $4.86 Billion | 23.60% | 0.78x | $1.64 Billion |
| InRetail Perú Corp (INREF) | $1.30 Billion | 6.64% | 2.87x | $887.99 Million |
| Nordstrom Inc (JWN) | $1.19 Billion | 17.09% | 1.58x | $2.23 Billion |
| Kintetsu Department Store Co., Ltd. (KNTTF) | $33.64 Billion | -14.71% | 2.67x | $247.73 Million |