Macy's Inc

STU : FDO
USA·Consumer Cyclical·Retail - Cyclical
€21.50
−0.82 (−4.98%)Oct 15 close
Market Cap
€5.65B
Enterprise Value
€9.79B
P/E (TTM)
10.81
P/B
1.12
Net Cash / (Debt)
−€3.37B
52-Week Range
€15 — €23
5-Year Range
€8.77 — €33
Avg Volume (3M)
1.20K

Macy's runs roughly 450 department stores under its own name, plus about 60 Bloomingdale's locations and 170 Bluemercury beauty boutiques across the US. It also sells through its own e-commerce sites. Customers are primarily general consumers shopping for clothing, shoes, accessories, and cosmetics—women's categories alone account for about 62% of sales. Revenue comes from direct retail sales in-store and online, with a small licensing component for Bloomingdale's-branded stores in the Middle East.

Employees94,189IPONov 17, 2009SIC5311HQ151 West 34th Street, New York, NY, USA, 10001
to

Financials (EUR)

Profitability

Metric
Current
Margins
Gross Margin
40.4%
Operating Margin
4.0%
EBITDA Margin
7.1%
Net Margin
2.1%
OCF Margin
—
FCF Margin
3.9%
Returns on Capital
ROE
10.9%
ROA
2.9%
ROIC
6.4%
ROCE
6.3%
ROC (Greenblatt)
8.8%
3Y ROIIC
116.1%
Consistency
Years Profitable / 10Y
9

Valuation

Metric
Current
Earnings Multiples
P/E (TTM)
10.81
Forward P/E
8.25
P/E ex-NRI
7.43
Shiller P/E (CAPE)
11.84
Cash Flow Multiples
P/FCF
6.50
P/OCF
3.30
P/Owner Earnings
10.36
FCF Yield
16.41%
Enterprise Value Multiples
EV / EBIT
13.37
EV / Forward EBIT
13.32
EV / EBITDA
5.97
EV / Forward EBITDA
6.09
EV / Revenue
0.43
EV / Forward Revenue
0.47
Asset / Sales
P/S
0.22
P/B
1.12
P/Tangible Book
1.57
Growth-Adjusted
PEG
—

Capital Returns

Metric
Current
Dividends
Dividend Yield (TTM)
4.04%
Forward Dividend Yield
4.13%
3Y Dividend Growth
32.3%
Payout Ratio
0.28
5Y Yield on Cost
3.11%
Buybacks & Dilution
3Y Buyback Ratio
1.70%
5Y Share Change
−10.9%
Combined
Shareholder Yield
17.17%

Balance Sheet

Metric
Current
Leverage
Debt / Equity
1.21
Gross Debt / EBITDA
3.24
Cash / Debt
0.09
Equity / Assets
0.25
Coverage
Interest Coverage
9.27
Short-Term Liquidity
Current Ratio
1.25
Quick Ratio
0.18
Cash Ratio
0.08
Composite Scores
Piotroski F-Score
7
Altman Z-Score
2.33

5-Step DuPont Analysis

ROE %
12.87%
Net Margin %
2.81%
Operating Margin %
3.88%
Operating Income
€757M
÷
Revenue
€19.51B
×
Tax Burden
0.7552
Net Income
€549M
÷
Pretax Income
€727M
×
Interest Burden
0.9604
Pretax Income
€727M
÷
Operating Income
€757M
×
Asset Turnover
1.32
Revenue
€19.51B
÷
Average Total Assets
€14.83B
Begin Total Assets
€15.84B
End Total Assets
€13.82B
×
Equity Multiplier
3.48
Avg Total Assets
€14.83B
÷
Avg Stockholders Equity
€4.27B
Begin Equity
€4.40B
End Equity
€4.14B