Macy’s Inc (M) - Net Assets
Based on the latest financial reports, Macy’s Inc (M) has net assets worth $4.86 Billion USD as of January 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($16.24 Billion) and total liabilities ($11.38 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. Check Macy’s Inc liquidity resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $4.86 Billion |
| % of Total Assets | 29.93% |
| Annual Growth Rate | 2.61% |
| 5-Year Change | 34.22% |
| 10-Year Change | 12.45% |
| Growth Volatility | 29.43 |
Macy’s Inc - Net Assets Trend (1993–2026)
This chart illustrates how Macy’s Inc's net assets have evolved over time, based on quarterly financial data. Also explore M asset base for the complete picture of this company's asset base.
Annual Net Assets for Macy’s Inc (1993–2026)
The table below shows the annual net assets of Macy’s Inc from 1993 to 2026. For live valuation and market cap data, see market cap of Macy’s Inc.
| Year | Net Assets | Change |
|---|---|---|
| 2026-01-31 | $4.86 Billion | +6.77% |
| 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 6042.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (January 2026)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $6.94 Billion | 142.82% |
| Common Stock | $3.00 Million | 0.06% |
| Other Comprehensive Income | $-392.00 Million | -8.07% |
| Total Equity | $4.86 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 |
|---|---|
|
COSCO SHIPPING Holdings Co. Ltd
F:C6G
|
$5.09 Billion |
|
Imeik Technology Development Co
SHE:300896
|
$5.09 Billion |
|
Protagonist Therapeutics Inc
NASDAQ:PTGX
|
$5.09 Billion |
|
OHB SE
XETRA:OHB
|
$5.09 Billion |
|
SIGMASTAR TECH LTD
SHE:301536
|
$5.09 Billion |
|
Sabra Healthcare REIT Inc
NASDAQ:SBRA
|
$5.09 Billion |
|
Aurizon Holdings Ltd
AU:AZJ
|
$5.09 Billion |
|
UNIQA Insurance Group AG
VI:UQA
|
$5.08 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 2025 to 2026, total equity changed from 4,552,000,000 to 4,860,000,000, a change of 308,000,000 (6.8%).
- Net income of 642,000,000 contributed positively to equity growth.
- Dividend payments of 197,000,000 reduced retained earnings.
- Share repurchases of 250,000,000 reduced equity.
- Other comprehensive income increased equity by 57,000,000.
- Other factors increased equity by 56,000,000.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $642.00 Million | +13.21% |
| Dividends Paid | $197.00 Million | -4.05% |
| Share Repurchases | $250.00 Million | -5.14% |
| Other Comprehensive Income | $57.00 Million | +1.17% |
| Other Changes | $56.00 Million | +1.15% |
| Total Change | $- | 6.77% |
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: 1.12x
- 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 2.12x to 1.12x 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 | $19.69 | x |
| 1994-01-31 | $8.84 | $19.69 | x |
| 1995-01-31 | $13.58 | $19.69 | x |
| 1996-01-31 | $11.17 | $19.69 | x |
| 1997-01-31 | $10.88 | $19.69 | x |
| 1998-01-31 | $11.82 | $19.69 | x |
| 1999-01-31 | $12.76 | $19.69 | x |
| 2000-01-31 | $14.92 | $19.69 | x |
| 2001-01-31 | $14.08 | $19.69 | x |
| 2002-01-31 | $13.94 | $19.69 | x |
| 2003-01-31 | $14.50 | $19.69 | x |
| 2004-01-31 | $15.90 | $19.69 | x |
| 2005-01-31 | $17.27 | $19.69 | x |
| 2006-01-31 | $31.11 | $19.69 | x |
| 2007-01-31 | $22.37 | $19.69 | x |
| 2008-01-31 | $21.93 | $19.69 | x |
| 2009-01-31 | $11.03 | $19.69 | x |
| 2010-01-31 | $11.11 | $19.69 | x |
| 2011-01-31 | $12.94 | $19.69 | x |
| 2012-01-31 | $13.78 | $19.69 | x |
| 2013-01-31 | $14.68 | $19.69 | x |
| 2014-01-31 | $16.22 | $19.69 | x |
| 2015-01-31 | $14.87 | $19.69 | x |
| 2016-01-31 | $12.76 | $19.69 | x |
| 2017-01-31 | $13.91 | $19.69 | x |
| 2018-01-31 | $18.49 | $19.69 | x |
| 2019-01-31 | $20.67 | $19.69 | x |
| 2020-01-31 | $20.48 | $19.69 | x |
| 2021-01-31 | $8.21 | $19.69 | x |
| 2022-01-31 | $11.53 | $19.69 | x |
| 2023-01-31 | $14.52 | $19.69 | x |
| 2024-01-31 | $14.50 | $19.69 | x |
| 2025-01-31 | $16.16 | $19.69 | x |
| 2026-01-31 | $17.58 | $19.69 | 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): 13.21%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.84%
- • Asset Turnover: 1.39x
- • Equity Multiplier: 3.34x
- Recent ROE (13.21%) is above the historical average (4.87%), 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% | 4.62% | 1.51x | 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 |
| 2026 | 13.21% | 2.84% | 1.39x | 3.34x | $156.00 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: $2,240,614,751
- Average return on equity (ROE) among peers: 11.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Macy’s Inc (M) | $4.86 Billion | 5.45% | 2.34x | $5.09 Billion |
| Dillard's, Inc. (DDS) | $1.72 Billion | 9.85% | 1.26x | $6.58 Billion |
| Nordstrom Inc (JWN) | $2.09 Billion | 26.35% | 1.35x | $4.12 Billion |
| Kohl's Corporation (KSS) | $5.18 Billion | 10.74% | 1.62x | $1.64 Billion |
| Polibeli Group Ltd Class A Ordinary Shares (PLBL) | $-24.64 Million | 0.00% | 0.00x | $2.25 Billion |
About Macy’s Inc
Macy's, Inc., an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells various 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. It also operates in Dubai, the United Arab Emirates, and Al Zahra,… Read more