Macy's, Inc.

Capital Structure and Liquidity Macy's, Inc. has a debt-to-equity ratio of 0.5, indicating a relatively balanced capital structure. The company's liquidity position is characterized as medium, with a current ratio of 1.49. The company's cash and equivalents amount to $1.25 billion, while its long-term debt stands at $2.43 billion [doc:0000794367]. ### Profitability and Returns Macy's, Inc. reported a return on equity (ROE) of 13.21% and a return on assets (ROA) of 3.95% for FY2025. These figures suggest that the company is generating a reasonable return on its equity but a modest return on its total assets. The operating income of $1.03 billion and net income of $642 million indicate a healthy profitability, although the ROA is below the industry median for department stores [doc:0000794367]. ### Segments and Geographic Exposure Macy's operates through multiple segments, including Macy's, Bloomingdale's, and Bluemercury. The company's revenue is primarily concentrated in the United States, with operations in 43 states, the District of Columbia, Puerto Rico, and Guam. The company also has licensed operations in Dubai and Kuwait. The geographic concentration in the U.S. may expose the company to regional economic fluctuations [doc:0000794367]. ### Growth Trajectory Macy's, Inc. reported a revenue of $21.76 billion for FY2025. The company's growth trajectory is influenced by its strategic initiatives, including the "Bold New Chapter" strategy, which aims to re-imagine its best stores, expand its luxury business, and advance supply chain capabilities. The company's recent quarterly results show a slight decline in net sales, with $4.71 billion in the 13 weeks ended November 1, 2025, compared to $4.74 billion in the same period in 2024 [doc:0000794367]. ### Risk Factors Macy's, Inc. faces several risk factors, including liquidity risk due to its medium liquidity classification and the potential for dilution, as indicated by the high dilution risk score. The company's net cash is negative after subtracting total debt, and the source documents mention dilution or offering risk. Additionally, the company's exposure to geopolitical events, such as the ongoing conflict between Russia and Ukraine, may impact its operations and supply chain [doc:0000794367]. ### Recent Events Recent filings and transcripts indicate that Macy's, Inc. has been actively managing its debt, with a focus on repurchasing shares and optimizing its capital structure. The company has also been investing in its digital capabilities and expanding its luxury business. The company's recent quarterly results show a slight decline in net sales, but the company remains focused on its strategic initiatives to drive long-term growth [doc:0000794367].