Macy’s Inc (M)
Debt-to-assets ratio
| Feb 3, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,706,000 | 2,325,000 | 2,482,000 | 2,468,000 | 2,555,000 | 2,371,000 | 2,506,000 | 2,675,000 | 3,254,000 | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 16,246,000 | 18,111,000 | 16,304,000 | 16,868,000 | 16,866,000 | 18,230,000 | 16,342,000 | 16,972,000 | 17,590,000 | 18,279,000 | 18,417,000 | 18,082,000 | 17,706,000 | 19,214,000 | 17,614,000 | 18,581,000 | 21,172,000 | 22,547,000 | 20,741,000 | 21,296,000 |
| Debt-to-assets ratio | 0.17 | 0.13 | 0.15 | 0.15 | 0.15 | 0.13 | 0.15 | 0.16 | 0.18 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
February 3, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,706,000K ÷ $16,246,000K
= 0.17
The debt-to-assets ratio for Macy's Inc has fluctuated over the past several quarters. As of February 3, 2024, the ratio stands at 0.17, indicating that 17% of the company's assets are financed by debt. This ratio has increased from the previous quarter, where it was 0.13.
Looking further back, we see that the ratio has varied between 0.13 and 0.18 over the past few quarters. It is worth noting the significant drop to 0.00 in the debt-to-assets ratio in the most recent quarters of 2021 and 2022, suggesting a period where Macy's had either significantly reduced its debt levels or had a substantial increase in assets relative to its debt obligations.
Overall, a lower debt-to-assets ratio is generally viewed positively as it indicates a lower reliance on debt financing and a stronger financial position. However, it is essential to consider the context of the industry, economic environment, and specific company strategy when evaluating the significance of this ratio in Macy's case.
Peer comparison
Feb 3, 2024