Company / Operating Margin
Macy's Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
4.5%
FY2025
5-year range
-17.6% / 6.6%
FY2021-FY2025
Trend
+15.2%
vs FY2024
Sector context
#129 of 186
Consumer Discretionary
What the data says
At 4.5%, Macy's's operating margin ranks #129 of 186 in the Consumer Discretionary sector. Operating Margin has fluctuated over the past 10 years, ranging from -25.8% in FY2020 to 7.5% in FY2017.
Based on SEC 10-K filings.
4.5% in FY2025 with a 5-year CAGR of +30.3%.
Improved from 1.3% to 4.5% over the past 2 years.
Consumer Discretionary sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- -2.1pp
- 5-Year Change
- +30.3pp
- 10-Year Change
- -
Sector benchmark
#129 of 186 in Consumer DiscretionaryTop 69% of 186This company 4.5% Sector average 3.2%
▼
+40.8% above sector average
Key checks
Key Insights
- In FY2025, operating margin increased 15.2% year-over-year.
- Currently 1.3pp above the Consumer Discretionary sector average.
- Peak operating margin was recorded in FY2017.
- Lowest operating margin in the period was in FY2020.
Company context
Key Data Points
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 4.5% | +15.2% |
| FY2024 | 4.0% | +213.5% |
| FY2023 | 1.3% | -81.0% |
| FY2022 | 6.6% | +137.7% |
| FY2021 | -17.6% | +31.7% |
| FY2020 | -25.8% | -753.2% |
| FY2019 | 4.0% | -43.2% |
| FY2018 | 7.0% | -6.8% |
| FY2017 | 7.5% | +41.2% |
| FY2016 | 5.3% | -29.7% |
As of FY2025 · SEC 10-K · Updated Mar 29, 2026