Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over the five-year period Macy’s total assets fell modestly from $17,706m in 2021 to $16,402m in 2025 (≈‑7.3%). Liabilities declined much more sharply, from $15,153m to $11,850m (≈‑21.8%), while stockholders’ equity rose from $2,553m to $4,552m (≈+78.3%). That shift materially improved the company’s capitalization: the equity-to-assets ratio roughly doubled (about 14.4% → 27.8%) and liabilities/assets fell from ~85.6% to ~72.2%. Leverage measured as liabilities/equity also improved markedly (≈5.9x → ≈2.6x). These moves point to deliberate deleveraging and a stronger balance-sheet position—likely the result of sustained liability reduction (debt paydown or fewer obligations) coupled with retained earnings or other equity increases. The asset base shrinking while equity grows could reflect asset dispositions, store rationalization or inventory management common in the retail sector as firms adapt to e‑commerce and post‑pandemic normalization; the small asset uptick in 2025 may indicate some inventory rebuilding or targeted reinvestment. Overall Macy’s appears materially less leveraged and more financially flexible by 2025, though the reduced asset base could limit scale if not offset by improved operating performance (revenue/EBITDA trends would be needed to assess sustainability).
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.