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Macy's, Inc. cash flow statement

In fiscal 2026, Macy's, Inc.'s operations generated $1.43bn of cash; it spent $373m on capital projects, leaving free cash flow of $1.06bn. It returned $197m in dividends and $250m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Jan 20102011Jan 20112012Jan 20122013Feb 20132014Feb 20142015Jan 20152016Jan 20162017Jan 20172018Feb 20182019Feb 20192020Feb 20202021Jan 20212022Jan 20222023Jan 20232024Feb 20242025Feb 20252026Jan 2026LTMAug 2026
Cash from operations1,7501,5062,1732,1792,5492,7091,9841,8011,9761,7351,6086492,7121,6151,3051,2781,4301,761
Depreciation and amortisation1,2101,1501,0851,0491,0201,0361,0611,058991962981959874857897881894873
Stock-based pay766670616273656158633831555447585963
Capital spending355339555698607770777596487657902338354888631518373347
Free cash flow1,3951,1671,6181,4811,9421,9391,2071,2051,4891,0787063112,3587276747601,0571,414
Free cash flow after stock pay1,3191,1011,5481,4201,8801,8661,1421,1441,4311,0156682802,3036736277029981,351
Dividends paid848414832435942145645946146346611790173181192197198
Share buybacks115021,3971,5711,9012,0013161011500601381250205
Shares issued8431622343152581633664560700———

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Macy's, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Macy's, Inc.