Macy's, Inc. (M) Operating Margin (2009 - 2026)
Macy's' Operating Margin was 4.82% in fiscal Q2 2027 (quarter ended Aug 1, 2026), up 1.84 percentage points from 2.98% a year earlier and up 2.53 percentage points from the prior quarter.
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Analysis
Macy's, Inc. (M) Operating Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Macy's' Operating Margin was 5.02% through Aug 1, 2026, up 1.47 percentage points year-over-year; for FY2026 (ended Jan 31, 2026), it was 4.55%, up 0.60 percentage points from FY2025.
- Operating Margin shows a five-year change of +30.35 percentage points (FY2021 to FY2026).
- In earlier fiscal years, Operating Margin was 3.95% in FY2025 (+2.69 pp), 1.26% in FY2024 (-5.38 pp), 6.64% in FY2023 (-2.56 pp) and 9.19% in FY2022 (+34.99 pp).
- Quarterly Operating Margin has moved between -1.78% (fiscal Q4 2024) and 10.41% (fiscal Q4 2022) over five years.
- Compared with a year earlier, Operating Margin has increased for three straight quarters, with an average year-over-year change of +1.33 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was fiscal Q3 2022 (a gain of 12.80 percentage points); the worst was fiscal Q4 2024 (a drop of 9.18 percentage points).
- Per Business Quant data, M's Operating Margin in the three fiscal quarters before Q2 2027 was 2.29% (Q1 2027), 9.41% (Q4 2026) and 0.85% (Q3 2026).
Peer Set
Peer Comparison
Historic Data
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Historic Data
| Date | Value |
|---|---|
| Aug 1, 2026 | 4.82% |
| May 2, 2026 | 2.29% |
| Jan 31, 2026 | 9.41% |
| Nov 1, 2025 | 0.85% |
| Aug 2, 2025 | 2.98% |
| May 3, 2025 | 1.96% |
| Feb 1, 2025 | 6.23% |
| Nov 2, 2024 | 1.31% |
| Aug 3, 2024 | 4.36% |
| May 4, 2024 | 2.50% |
| Feb 3, 2024 | -1.78% |
| Oct 28, 2023 | 1.65% |
| Jul 29, 2023 | 2.42% |
| Apr 29, 2023 | 4.64% |
| Jan 28, 2023 | 7.40% |
| Oct 29, 2022 | 3.51% |
| Jul 30, 2022 | 6.84% |
| Apr 30, 2022 | 8.32% |
| Jan 29, 2022 | 10.41% |
| Oct 30, 2021 | 9.61% |
API Access
Macy's, Inc. Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=M&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "M", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=M&period=max&api_key=YOUR_API_KEY");
const data = await res.json();