Macy's annual free cash flow
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2025
Macy's Free Cash Flow (FCF) History (M)
Macy's reported $1.06B in free cash flow for fiscal 2025, an increase of 39.08% from the previous fiscal year, with a free cash flow margin of 4.86%.
View full Macy's company overviewMacy's free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2026-01-31 | $1.06B | $297.0M | +39.08% | +4.86% |
| 2024 | 2025-02-01 | $760.0M | $86.0M | +12.76% | +3.41% |
| 2023 | 2024-02-03 | $674.0M | −$53.0M | −7.29% | +2.92% |
| 2022 | 2023-01-28 | $727.0M | −$1.63B | −69.17% | +2.97% |
| 2021 | 2022-01-29 | $2.36B | $2.05B | +658.20% | +9.64% |
| 2020 | 2021-01-30 | $311.0M | −$395.0M | −55.95% | +1.79% |
| 2019 | 2020-02-01 | $706.0M | −$372.0M | −34.51% | +2.87% |
| 2018 | 2019-02-02 | $1.08B | −$411.0M | −27.60% | +4.32% |
| 2017 | 2018-02-03 | $1.49B | $284.0M | +23.57% | +5.97% |
| 2016 | 2017-01-28 | $1.21B | −$2.0M | −0.17% | +4.65% |
| 2015 | 2016-01-30 | $1.21B | −$732.0M | −37.75% | +4.46% |
| 2014 | 2015-01-31 | $1.94B | −$3.0M | −0.15% | +6.90% |
| 2013 | 2014-02-01 | $1.94B | $461.0M | +31.13% | +6.95% |
| 2012 | 2013-02-02 | $1.48B | −$137.0M | −8.47% | +5.35% |
| 2011 | 2012-01-28 | $1.62B | $451.0M | +38.65% | +6.13% |
| 2010 | 2011-01-29 | $1.17B | −$228.0M | −16.34% | +4.67% |
| 2009 | 2010-01-30 | $1.40B | $290.0M | +26.24% | +5.94% |
| 2008 | 2009-01-31 | $1.10B | −$113.0M | −9.28% | +4.44% |
| 2007 | 2008-02-02 | $1.22B | — | — | +4.63% |
Macy's quarterly free cash flow
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Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q1 2026 | 2026-05-02 | $204.0M | $368.0M | — | +4.36% |
| Q4 2025 | 2026-01-31 | $1.08B | −$107.0M | −9.00% | +14.16% |
| Q3 2025 | 2025-11-01 | −$101.0M | $194.0M | — | −2.14% |
| Q2 2025 | 2025-08-02 | $240.0M | $349.0M | — | +4.99% |
| Q1 2025 | 2025-05-03 | −$164.0M | −$139.0M | — | −3.57% |
| Q4 2024 | 2025-02-01 | $1.19B | $188.0M | +18.78% | +15.31% |
| Q3 2024 | 2024-11-02 | −$295.0M | −$87.0M | — | −6.22% |
| Q2 2024 | 2024-08-03 | −$109.0M | −$100.0M | — | −2.21% |
| Q1 2024 | 2024-05-04 | −$25.0M | $85.0M | — | −0.52% |
| Q4 2023 | 2024-02-03 | $1.00B | $107.0M | +11.97% | +12.33% |
| Q3 2023 | 2023-10-28 | −$208.0M | −$116.0M | — | −4.28% |
| Q2 2023 | 2023-07-29 | −$9.0M | $143.0M | — | −0.18% |
| Q1 2023 | 2023-04-29 | −$110.0M | −$187.0M | — | −2.21% |
| Q4 2022 | 2023-01-28 | $894.0M | −$853.0M | −48.83% | +10.82% |
| Q3 2022 | 2022-10-29 | −$92.0M | $120.0M | — | −1.76% |
| Q2 2022 | 2022-07-30 | −$152.0M | −$542.0M | — | −2.71% |
| Q1 2022 | 2022-04-30 | $77.0M | −$356.0M | −82.22% | +1.44% |
| Q4 2021 | 2022-01-29 | $1.75B | $1.39B | +389.36% | +20.16% |
| Q3 2021 | 2021-10-30 | −$212.0M | −$401.0M | — | −3.90% |
| Q2 2021 | 2021-07-31 | $390.0M | $339.0M | +664.71% | +6.91% |
| Q1 2021 | 2021-05-01 | $433.0M | $719.0M | — | +9.20% |
| Q4 2020 | 2021-01-30 | $357.0M | −$800.0M | −69.14% | +5.27% |
| Q3 2020 | 2020-10-31 | $189.0M | $612.0M | — | +4.74% |
| Q2 2020 | 2020-08-01 | $51.0M | −$163.0M | −76.17% | +1.43% |
| Q1 2020 | 2020-05-02 | −$286.0M | −$44.0M | — | −9.48% |
| Q4 2019 | 2020-02-01 | $1.16B | $40.0M | +3.58% | +13.88% |
| Q3 2019 | 2019-11-02 | −$423.0M | −$115.0M | — | −8.18% |
| Q2 2019 | 2019-08-03 | $214.0M | $135.0M | +170.89% | +3.86% |
| Q1 2019 | 2019-05-04 | −$242.0M | −$432.0M | — | −4.40% |
| Q4 2018 | 2019-02-02 | $1.12B | −$332.0M | −22.91% | +13.21% |
| Q3 2018 | 2018-11-03 | −$308.0M | −$49.0M | — | −5.70% |
| Q2 2018 | 2018-08-04 | $79.0M | −$100.0M | −55.87% | +1.42% |
| Q1 2018 | 2018-05-05 | $190.0M | $70.0M | +58.33% | +3.43% |
| Q4 2017 | 2018-02-03 | $1.45B | $101.0M | +7.49% | +16.71% |
| Q3 2017 | 2017-10-28 | −$259.0M | $151.0M | — | −4.90% |
| Q2 2017 | 2017-07-29 | $179.0M | −$233.0M | −56.55% | +3.18% |
| Q1 2017 | 2017-04-29 | $120.0M | $265.0M | — | +2.24% |
| Q4 2016 | 2017-01-28 | $1.35B | −$172.0M | −11.32% | +15.59% |
| Q3 2016 | 2016-10-29 | −$410.0M | −$66.0M | — | −7.29% |
| Q2 2016 | 2016-07-30 | $412.0M | $254.0M | +160.76% | +7.02% |
| Q1 2016 | 2016-04-30 | −$145.0M | −$18.0M | — | −2.51% |
| Q4 2015 | 2016-01-30 | $1.52B | −$125.0M | −7.60% | +17.14% |
| Q3 2015 | 2015-10-31 | −$344.0M | −$237.0M | — | −5.86% |
| Q2 2015 | 2015-08-01 | $158.0M | −$220.0M | −58.20% | +2.59% |
| Q1 2015 | 2015-05-02 | −$127.0M | −$150.0M | — | −2.04% |
| Q4 2014 | 2015-01-31 | $1.65B | $141.0M | +9.38% | +17.57% |
| Q3 2014 | 2014-11-01 | −$107.0M | −$87.0M | — | −1.73% |
| Q2 2014 | 2014-08-02 | $378.0M | $153.0M | +68.00% | +6.03% |
| Q1 2014 | 2014-05-03 | $23.0M | −$210.0M | −90.13% | +0.37% |
| Q4 2013 | 2014-02-01 | $1.50B | $448.0M | +42.42% | +16.34% |
| Q3 2013 | 2013-11-02 | −$20.0M | −$117.0M | — | −0.32% |
| Q2 2013 | 2013-08-03 | $225.0M | −$6.0M | −2.60% | +3.71% |
| Q1 2013 | 2013-05-04 | $233.0M | $136.0M | +140.21% | +3.65% |
| Q4 2012 | 2013-02-02 | $1.06B | −$294.0M | −21.78% | +11.29% |
| Q3 2012 | 2012-10-27 | $97.0M | $252.0M | — | +1.60% |
| Q2 2012 | 2012-07-28 | $231.0M | −$186.0M | −44.60% | +3.78% |
| Q1 2012 | 2012-04-28 | $97.0M | $91.0M | +1516.67% | +1.58% |
| Q4 2011 | 2012-01-28 | $1.35B | $326.0M | +31.84% | +15.47% |
| Q3 2011 | 2011-10-29 | −$155.0M | −$112.0M | — | −2.65% |
| Q2 2011 | 2011-07-30 | $417.0M | $46.0M | +12.40% | +7.02% |
| Q1 2011 | 2011-04-30 | $6.0M | $191.0M | — | +0.10% |
| Q4 2010 | 2011-01-29 | $1.02B | −$203.0M | −16.54% | +12.38% |
| Q3 2010 | 2010-10-30 | −$43.0M | $59.0M | — | −0.76% |
| Q2 2010 | 2010-07-31 | $371.0M | $41.0M | +12.42% | +6.70% |
| Q1 2010 | 2010-05-01 | −$185.0M | −$125.0M | — | −3.32% |
| Q4 2009 | 2010-01-30 | $1.23B | $1.76B | — | +15.63% |
| Q3 2009 | 2009-10-31 | −$102.0M | — | — | −1.93% |
| Q2 2009 | 2009-08-01 | $330.0M | — | — | +6.39% |
| Q1 2009 | 2009-05-02 | −$60.0M | — | — | −1.15% |
| Q3 2008 | 2008-11-01 | −$537.0M | — | — | −9.78% |
Macy's free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $311.0M to $1.06B, a compound annual growth rate of 27.72%. Macy's's latest reported quarter, Q1 2026, generated $204.0M in free cash flow, an increase of $368.0M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Macy's filings at SEC.gov ↗