Macy’s Inc (M)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 4,137,000 | 4,144,000 | 4,210,000 | 4,170,000 | 4,082,000 | 3,475,000 | 3,531,000 | 3,278,000 | 3,621,000 | 3,008,000 | 3,146,000 | 2,675,000 | 2,553,000 | 2,243,000 | 2,324,000 | 2,697,000 | 6,377,000 | 6,057,000 | 6,315,000 | 6,323,000 |
| Debt-to-capital ratio | 0.40 | 0.36 | 0.37 | 0.37 | 0.38 | 0.41 | 0.42 | 0.45 | 0.47 | 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-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,706,000K ÷ ($2,706,000K + $4,137,000K)
= 0.40
The debt-to-capital ratio of Macy’s Inc has shown some fluctuations over the recent quarters. The ratio stood at 0.40 as of February 3, 2024, which indicates that 40% of the company's capital is funded by debt. This level of leverage suggests a moderate reliance on debt financing.
Looking at the trend, the ratio has generally fluctuated around the 0.37 to 0.45 range over the past few quarters, indicating some variability in the company's capital structure. The slight increase in the ratio from 0.36 in October 2023 to 0.40 in February 2024 suggests a slightly higher proportion of debt in the capital structure.
It is notable that the debt-to-capital ratio was at 0.00 for several quarters from October 2021 to April 2022, signifying near absence of debt during that period. This could be due to various strategic decisions taken by the company to reduce its debt levels during those quarters.
Overall, the debt-to-capital ratio of Macy's Inc provides insight into the company's mix of debt and equity financing and its ability to meet debt obligations. The recent fluctuations in the ratio highlight the dynamic nature of the company's capital structure and its approach to managing leverage.
Peer comparison
Feb 3, 2024