Macy'sM -0.77%69 EV-to-FCF is 9.49 as of Jul. 03, 2026, which is 43% below its 10-year median of 16.57. GuruFocus rates M with a GF Score™ of 69/100 and a GF Value™ of $16.02 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 771 Retail - Cyclical companies, Macy's ranks better than 63.16% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Macy's's Enterprise Value is $9,931 Mil.
Macy's's Free Cash Flow for the trailing twelve months (TTM) ended in Apr. 2026 was $1,046 Mil. Therefore, Macy's's EV-to-FCF for today is 9.49.
The historical rank and industry rank for Macy's's EV-to-FCF or its related term are showing as below:
M'
s EV-to-FCF Range Over the Past 10 Years
Min: 5.83 Med: 16.57 Max: 69.78
Current: 9.49
During the past 13 years, the highest EV-to-FCF of Macy's was 69.78. The lowest was 5.83. And the median was 16.57.
M's EV-to-FCF is ranked better than 63.16% of 771
companies
in the Retail - Cyclical industry
Industry Median: 13.75
vs M: 9.49
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-07-03), Macy's's stock price is $23.25.
Macy's's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Apr. 2026 was $2.420. Therefore, Macy's's PE Ratio (TTM) for today is 9.61.
Macy's (NYSE:M) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Macy's's share price for today is $23.25.
Macy's's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2.420.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Macy's EV-to-FCF Related Terms
Macy's EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Macy's's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Department Stores subindustry, Macy's's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Macy's EV-to-FCF vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Macy's's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Macy's's EV-to-FCF falls into.
Macy's's current Enterprise Value is $9,931 Mil.
Macy's's Free Cash Flow for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,046 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Macy's (M) has a EV-to-FCF of 9.49 as of Jul. 03, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Macy's and its competitors. This is 43% below median its historical median of 16.57. Over the past decade, Macy's' EV-to-FCF has ranged from 5.83 to 69.78. According to the industry distribution chart, Macy's ranks #284 out of 771 companies in the Retail - Cyclical industry, placing it in the top 36.8%.
Is Macy's' EV-to-FCF too high?
Macy's' current EV-to-FCF of 9.49 is 43% below median its 10-year median of 16.57. Over the past 10 years, this metric has ranged from a low of 5.83 to a high of 69.78. The Retail - Cyclical industry median EV-to-FCF is 13.75. Macy's' value of 9.49 is 31% below this industry median. Based on the distribution chart, Macy's ranks #284 out of 771 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Macy's has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Macy's' EV-to-FCF compare to DDS and PLBL?
According to the Retail - Cyclical industry distribution chart, Macy's ranks #284 out of 771 companies for EV-to-FCF. This puts Macy's in the upper half of its industry. The industry median EV-to-FCF is 13.75. Macy's' value of 9.49 is 31% below this benchmark. Historically, Macy's' own EV-to-FCF has ranged from 5.83 to 69.78 over the past decade. While the company's 10-year median is 16.57 vs. the industry median of 13.75, Macy's has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Retail - Cyclical company?
The median EV-to-FCF among Retail - Cyclical companies is 13.75, based on 771 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Macy's's current EV-to-FCF of 9.49 is 31% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Macy's and its competitors. For the Retail - Cyclical industry, the median EV-to-FCF is 13.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Macy's's current EV-to-FCF is 9.49, which is 43% below median its own 10-year median of 16.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Macy's stock overvalued right now?
Based on GuruFocus' analysis, Macy's (M) is currently considered Significantly Overvalued. The stock's GF Value™ is $16.02, compared to a current price of $23.25 — trading 45.1% above its estimated fair value. The current EV-to-FCF is 9.49, which is 43% below median its 10-year median of 16.57 and 31% below the Retail - Cyclical industry median of 13.75. Macy's' overall GF Score™ is 69/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Macy's (M), the current EV-to-FCF is 9.49 as of Jul. 03, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Macy's (M) Overvalued in 2026?
Based on GuruFocus' analysis, Macy's stock appears to be overvalued.
The current stock price of $23.25 is trading 45.1% above its estimated GF Value™ of $16.02.
GuruFocus considers Macy's to be Significantly Overvalued.
Key valuation signals for M:
EV-to-FCF: 9.49 (43% below median its 10-year median of 16.57)
GF Value™: $16.02 vs. price of $23.25 (45.1% above fair value)
Industry Position: 31% below the Retail - Cyclical median (#284 of 771)
No single metric tells the full story. See the M stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 1858 and based in New York City, Macy's operates about 430 eponymous stores, 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's names, and 170 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances constituted 64% of 2025 net retail sales.
69GF Score
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