Macy's, Inc. (M) FCF Payout Ratio: 13.47%
Is Macy's, Inc.’s FCF payout ratio high or low?
Macy's, Inc.'s FCF payout ratio of 13.47% is 58% below its 4-year average of 32.05%, near the low end of its 4-year range (4.26%–58.01%).
38.63% below its 12-month average of 21.95%.
M FCF Payout Ratio Chart
M Average FCF Payout Ratio Chart
M Current vs Average FCF Payout Ratio Chart
M FCF Payout Ratio Metrics
FCF PAYOUT RATIO
13.47%
FCF PAYOUT RATIO AVG TTM
21.95%
FCF PAYOUT RATIO AVG 3Y
33.97%
FCF PAYOUT RATIO AVG 5Y
32.05%
FCF PAYOUT RATIO AVG 10Y
48.01%
FCF PAYOUT RATIO AVG 15Y
38.69%
FCF PAYOUT RATIO AVG 20Y
32.96%
CURRENT VS TTM AVG
-38.63%
CURRENT VS 3Y AVG
-60.35%
CURRENT VS 5Y AVG
-57.97%
CURRENT VS 10Y AVG
-71.94%
CURRENT VS 15Y AVG
-65.19%
CURRENT VS 20Y AVG
-59.14%
Payout Ratio Comparison
FCF Payout Ratio
13.5%
Earnings Payout Ratio
31.6%
Dividend Yield
3.03%
FCF Yield
22.32%
Annual FCF Payout Ratio History
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.06B | $197.00M | 18.6% |
| 2025 | $760.00M | $192.00M | 25.3% |
| 2024 | $312.00M | $181.00M | 58.0% |
| 2023 | $320.00M | $173.00M | 54.1% |
| 2022 | $2.12B | $90.00M | 4.3% |
| 2021 | $183.00M | $117.00M | 63.9% |
| 2020 | $451.00M | $466.00M | 103.3% |
| 2019 | $803.00M | $463.00M | 57.7% |
| 2018 | $1.18B | $461.00M | 38.9% |
| 2017 | $889.00M | $459.00M | 51.6% |
| 2016 | $871.00M | $456.00M | 52.4% |
| 2015 | $1.64B | $421.00M | 25.7% |
| 2014 | $1.69B | $359.00M | 21.3% |
| 2013 | $1.32B | $324.00M | 24.6% |
| 2012 | $1.33B | $148.00M | 11.1% |
| 2011 | $1.00B | $84.00M | 8.4% |
| 2010 | $1.29B | $84.00M | 6.5% |
| 2009 | $982.00M | $221.00M | 22.5% |
| 2008 | $1.13B | $230.00M | 20.3% |
| 2007 | $2.35B | $274.00M | 11.6% |
| 2006 | $1.29B | $157.00M | 12.2% |
| 2005 | $959.00M | $93.00M | 9.7% |
| 2004 | $1.08B | $69.00M | 6.4% |
| 2003 | $600.00M | $0 | 0.0% |
| 2002 | $665.00M | $0 | 0.0% |
| 2001 | $543.00M | $0 | 0.0% |
| 2000 | $493.00M | $0 | 0.0% |
| 1999 | $995.00M | $0 | 0.0% |
| 1998 | $877.00M | $0 | 0.0% |
| 1997 | $374.50M | $0 | 0.0% |
Formula: FCF Payout Ratio = Dividends Paid / Free Cash Flow × 100
FCF payout and earnings payout:
- FCF represents operating cash flow after capital expenditures
- FCF payout compares dividends paid with free cash flow
- FCF payout above 100% means dividends paid exceeded free cash flow for the period
- Earnings payout compares dividends paid with net income
Reading the series: Use the chart and table to compare dividend payments with cash generation over time.
Macy's, Inc. FCF Payout Ratio Formula & Definition
FCF Payout Ratio measures what percentage of free cash flow is paid out as dividends. Unlike earnings-based payout, it compares dividends with cash generated after capital expenditures.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Macy's, Inc. FCF Payout Ratio FAQ
- What is the FCF payout ratio for Macy's, Inc. (M)?
- The FCF payout ratio for M stock is 13.47%.
- Is Macy's, Inc.'s FCF payout ratio high or low?
- Macy's, Inc.'s FCF payout ratio of 13.47% is 58% below its 4-year average of 32.05%, near the low end of its 4-year range (4.26%–58.01%).
- What is the TTM average FCF payout ratio for Macy's, Inc. (M)?
- The TTM average FCF payout ratio for M stock is 21.95%.
- What is the 3Y average FCF payout ratio for Macy's, Inc. (M)?
- The 3Y average FCF payout ratio for M stock is 33.97%.
- What is the 5Y average FCF payout ratio for Macy's, Inc. (M)?
- The 5Y average FCF payout ratio for M stock is 32.05%.
- What is the 10Y average FCF payout ratio for Macy's, Inc. (M)?
- The 10Y average FCF payout ratio for M stock is 48.01%.
- What is the 15Y average FCF payout ratio for Macy's, Inc. (M)?
- The 15Y average FCF payout ratio for M stock is 38.69%.
- What is the 20Y average FCF payout ratio for Macy's, Inc. (M)?
- The 20Y average FCF payout ratio for M stock is 32.96%.
Macy's, Inc. FCF Payout Ratio History
| DATE | FCF PAYOUT RATIO |
|---|---|
| 2026-01-31 | 18.64% |
| 2025-02-01 | 25.26% |
| 2024-02-03 | 58.01% |
| 2023-01-28 | 54.06% |
| 2022-01-29 | 4.26% |
| 2021-01-30 | 63.93% |
| 2020-01-31 | 103.33% |
| 2019-01-31 | 57.66% |
| 2018-01-31 | 38.94% |
| 2017-01-31 | 51.63% |
| 2016-01-31 | 52.35% |
| 2015-01-31 | 25.66% |
| 2014-01-31 | 21.29% |
| 2013-01-31 | 24.56% |
| 2012-01-31 | 11.14% |
| 2011-01-31 | 8.39% |
| 2010-01-31 | 6.51% |
| 2009-01-31 | 22.51% |
| 2008-01-31 | 20.30% |
| 2007-01-31 | 11.64% |
| 2006-01-31 | 12.19% |
| 2005-01-31 | 9.70% |
| 2004-01-31 | 6.38% |
About Macy's, Inc.
Macy's, Inc. is a prominent retail enterprise that employs an omnichannel strategy, serving customers through its extensive network of physical department stores, dedicated e-commerce websites, and convenient mobile applications. The company offers a broad assortment of merchandise, including apparel and accessories for men, women, and children, cosmetics, home furnishings, and other general consumer goods. As of January 29, 2022, Macy's operated 725 department stores domestically in locations such as the District of Columbia, Puerto Rico, and Guam. These stores are branded under several well-known names like Macy's, Macy's Backstage, Market by Macy's, Bloomingdale's, Bloomingdale's The Outlet, Bloomies, and the beauty retailer bluemercury. Internationally, Macy's also extends its reach through licensing agreements, with operations in Dubai, United Arab Emirates, and Al Zahra, Kuwait. The company maintains a presence in the beauty and spa retail sector. Originally established in 1830, the company was previously known as Federated Department Stores, Inc. It officially changed its name to Macy's, Inc. in June 2007, and its corporate headquarters are located in New York, New York.
- Sector
- Consumer Cyclical
- Industry
- Department Stores
- CEO
- Antony Spring