Macy's INC
Balance Sheet (in millions)
Feb.3, 2018
Assets
Cash
($
Inventories
($
Accounts receivable
($
Prepaid Expenses and other current assets
($
Total current assets
($
Property and Equipment – net
($
Goodwill
($
Other Intangible Assets – net
($
Other Assets
($
Total Assets
($
Liabilities and Stockholders Equity
Short-term debt
($
Merchandise accounts payable
($
Accounts payable and accrued liabilities
($
Income taxes
($
Deferred Income Taxes
Total Current Liabilities
($
Long-Term Debt
($
Deferred Income Taxes
($
Other Liabilities
($
Total Liabilities
($
Shareholders’ Equity
Common stock (304.8 and 304.1 shares outstanding for 2018 and 2017) ($
Additional paid-in capital
($
Accumulated equity
($
Treasury stock
($
Accumulated other comprehensive loss
($
Total Macy's, Inc. Shareholders' Equity
($
Shareholders' Equity, Noncontrolling Interest
($
Total Shareholders' Equity
($
Total Liabilities and Shareholders' Equity
($
Jan. 28, 2017
1,455.00)
5,178.00)
363.00)
448.00)
7,444.00)
6,672.00)
3,897.00)
488.00)
880.00)
19,381.00)
7.51%
26.72%
1.87%
2.31%
38.41%
34.43%
20.11%
2.52%
4.54%
100.00%
22.00)
1,590.00)
3,167.00)
296.00)
5,075.00)
5,861.00)
1,122.00)
1,662.00)
13,720.00)
0.11%
8.20%
16.34%
1.53%
3.00)
676.00)
7,174.00)
(1,456.00)
(724.00)
5,673.00)
(12.00)
5,661.00)
19,381.00)
($
($
($
($
($
($
($
($
($
($
1,297.00)
5,399.00)
522.00)
408.00)
7,626.00)
7,017.00)
3,897.00)
498.00)
813.00)
19,851.00)
Jan. 30, 2016
Jan. 31, 2015
Feb. 1, 2014
($
($
($
($
($
($
($
($
($
($
($
($
($
($
($
($
($
($
($
($
2,273.00)
438.00)
5,557.00)
420.00)
8,688.00)
7,930.00)
3,743.00)
527.00)
746.00)
21,634.00)
10.51%
2.02%
25.69%
1.94%
40.16%
36.66%
17.30%
2.44%
3.45%
100.00%
($ 1,836.00) 8.75%
($ 371.00) 1.77%
($ 5,308.00) 25.29%
($ 361.00) 1.72%
($ 7,876.00) 37.52%
($ 8,196.00) 39.05%
($ 3,743.00) 17.83%
($ 561.00) 2.67%
($ 615.00) 2.93%
($ 20,991.00) 100.00%
($
($
($
($
($
($
($
($
($
($
463.00)
1,691.00)
2,810.00)
362.00)
400.00)
5,726.00)
6,728.00)
1,273.00)
1,658.00)
15,385.00)
2.14%
7.82%
12.99%
1.67%
1.85%
26.47%
31.10%
5.88%
7.66%
71.11%
($ 124.00)
($ 1,579.00)
($ 2,610.00)
($ 355.00)
($ 407.00)
($ 5,075.00)
($ 6,806.00)
($ 1,238.00)
($ 1,821.00)
($ 14,940.00)
4.00)
2,522.00)
6,235.00)
(1,847.00)
(665.00)
6,249.00)
($ 6,249.00)
($ 21,634.00)
0.02%
11.66%
28.82%
-8.54%
-3.07%
28.89%
($
($
($
($
($
($
($
($
($
($
1,109.00)
558.00)
5,506.00)
479.00)
7,652.00)
7,616.00)
3,897.00)
514.00)
897.00)
20,576.00)
5.39%
2.71%
26.76%
2.33%
37.19%
37.01%
18.94%
2.50%
4.36%
100.00%
642.00)
1,526.00)
3,333.00)
227.00)
5,728.00)
6,995.00)
1,477.00)
2,123.00)
16,323.00)
3.12%
7.42%
16.20%
1.10%
26.19%
30.24%
5.79%
8.58%
70.79%
($
309.00) 1.56% ($
($ 1,423.00) 7.17% ($
($ 3,563.00) 17.95% ($
($
352.00) 1.77% ($
($ 5,647.00) 28.45% ($
($ 6,562.00) 33.06% ($
($ 1,443.00) 7.27% ($
($ 1,877.00) 9.46% ($
($ 15,529.00) 78.23% ($
27.84%
34.00%
7.18%
10.32%
79.33%
($
76.00)
($ 1,594.00)
($ 3,109.00)
($
296.00)
($ 5,075.00)
($ 7,233.00)
($ 1,443.00)
($ 2,201.00)
($ 15,952.00)
0.02%
3.49%
37.02%
-7.51%
-3.74%
29.27%
-0.06%
29.21%
100.00%
($
($
($
($
($
($
($
($
($
3.00)
621.00)
6,334.00)
(1,665.00)
(1,043.00)
4,250.00)
3.00)
4,253.00)
20,576.00)
0.01%
3.02%
30.78%
-8.09%
-5.07%
20.66%
0.01%
20.67%
100.00%
($
($
($
($
($
($
($
($
($
100.00%
-60.92%
39.08%
-31.27%
0.78%
-1.06%
($ 28,105.00)
($ (16,725.00)
($ 11,380.00)
($ (8,447.00)
($
92.00)
($
(87.00)
3.00)
617.00)
6,088.00)
(1,489.00)
(896.00)
4,323.00)
(1.00)
4,322.00)
19,851.00)
6.53%
27.20%
2.63%
2.06%
38.42%
35.35%
19.63%
2.51%
4.10%
100.00%
0.02%
3.11%
30.67%
-7.50%
-4.51%
21.78%
-0.01%
21.77%
100.00%
($
($
($
($
($
($
($
($
($
2,246.00) 10.53%
424.00)
1.99%
5,417.00) 25.40%
493.00)
2.31%
8,580.00) 40.23%
7,800.00) 36.57%
3,743.00) 17.55%
496.00)
2.33%
711.00)
3.33%
21,330.00) 100.00%
0.36%
7.47%
14.58%
1.39%
23.79%
33.91%
6.77%
10.32%
74.79%
4.00)
0.02%
1,048.00)
4.91%
7,340.00) 34.41%
(1,942.00) -9.10%
(1,072.00) -5.03%
5,378.00) 25.21%
- )
5,378.00) 25.21%
21,330.00) 100.00%
($
($
($
($
($
($
Feb. 2, 2013
($
4.00) 0.02%
($ 3,872.00) 18.45%
($ 5,108.00) 24.33%
($ (2,002.00) -9.54%
($ (931.00) -4.44%
($ 6,051.00) 28.83%
28.89% ($ 6,051.00) 28.83%
100.00% ($ 20,991.00) 100.00%
Macy's INC
Common Size Income Statement (in millions)
2017
Net Sales
CGS
Gross Margin
SG&A
Gains on sale of real estate
Restructuring, impairment, store closing and other costs
Settlement charges
Operating Income
Interest Expense
Net premiums on early retirement of debt
Interest Income
Income before income taxes
Federal, state and local income tax benefit (expense)
Net Income
Net loss attributable to noncontrolling interest
Net income attributable to Macy's, Inc. shareholders
Basic earnings per share attributable to Macy's, Inc. shareholders
Diluted earnings per share attributable to Macy's, Inc. shareholders
($
($
($
($
($
($
($
($
($
($
($
($
($
($
($
($
($
($
Stock price (2017/1/28)
Outstanding Stock (Balance at Jan 28, 2017)
($
29.11)
304,063,000.00
2016
2,015
24,837.00) 100.00% ($ 25,778.00) 100.00% ($ 27,079.00)
(15,152.00) -61.01% ($ (15,621.00) -60.60% ($ (16,496.00)
9,685.00) 38.99% ($ 10,157.00) 39.40% ($ 10,583.00)
(8,131.00) -32.74% ($ (8,474.00) -32.87% ($ (8,468.00)
544.00)
2.19% ($
209.00)
0.81% ($
212.00)
(186.00) -0.75% ($ (479.00) -1.86% ($ (288.00)
(105.00) -0.42% ($
(98.00) -0.38% 1,807.00)
7.28% ($ 1,315.00)
5.10% ($ 2,039.00)
(321.00) -1.29% ($ (367.00) -1.42% ($ (363.00)
10.00)
0.04% 11.00)
0.04% ($
4.00)
0.02% ($
2.00)
1,507.00)
6.07% ($
952.00)
3.69% ($ 1,678.00)
29.00)
0.12% ($ (341.00) -1.32% ($ (608.00)
1,536.00)
6.18% ($
611.00)
2.37% ($ 1,070.00)
11.00)
0.04% ($
8.00)
0.03% ($
2.00)
1,547.00)
6.23% ($
619.00)
2.40% ($ 1,072.00)
5.07)
0.02% ($
2.01)
0.01% ($
3.26)
5.04)
0.02% ($
1.99)
0.01% ($
3.22)
2,014
2,013
100.00%
-59.51%
40.49%
-30.06%
0.33%
-0.31%
-
7.53% ($
-1.34% ($
($
0.01% ($
6.20% ($
-2.25% ($
3.95% ($
0.01% ($
3.96% ($
0.01% ($
0.01% ($
($ 27,931.00) 100.00%
($ (16,725.00) -59.88%
($ 11,206.00) 40.12%
($ (8,514.00) -30.48%
($
74.00) 0.26%
($
(88.00) -0.32%
-
2,938.00)
(395.00)
(17.00)
2.00)
2,528.00)
(864.00)
1,664.00)
- )
1,526.00)
4.30)
4.22)
10.45%
-1.41%
-0.06%
0.01%
8.99%
-3.07%
5.92%
0.00%
5.43%
0.02%
0.02%
($ 2,678.00)
($ (390.00)
9.59%
-1.40%
-
($
2.00)
($ 2,290.00)
($ (804.00)
($ 1,486.00)
($
- )
($ 1,486.00)
($
3.93)
($
3.86)
0.59%
7.52%
12.43%
1.69%
1.94%
24.18%
32.42%
5.90%
8.68%
71.17%
0.01%
8.20%
-2.88%
5.32%
0.00%
5.32%
0.01%
0.01%
CR
QR
TCA/TCL
(TCA-INV)/TCL
1.35
0.39
TA turnover
Inventory turnover
DSI
AR turnover
DSR
Sales/Total Asset
INV/CGS
365/Invtur
AR/Sales
365/ARtur
1.25
0.36
1024.35
0.02
17366.87
Total debt ratio
Debt/equity ratio
TIE
TL/(TL+Equity)
TL/TE
EBIT/Interest
0.78
3.59
5.63
Gross margin
Net profit margin
ROA
ROE
Gross Margin/Sales
EAT/sales
EAT/TA
EAT/TE
0.39
0.06
0.08
0.36
EPS
Price-earnings ratio
BV per share
Market-book ratio
EAT/CSoutstanding
Stockprice/EPS
TE/CSoutstanding
Stockprice/BV pershare
5.05
5.76
14.21
2.05
Financial Leverage
Total Assets/ Average SE
Dupont Euqation
ROE=
dollors
4.63
Net profit margin
Net Income/Sales *
0.06
TA turnover
Financial Leverage
Sales/Total Assets* Total Assets/ Average SE
1.25
4.63
0.36
TJX companies Inc (TJX)
Consolidated Balance Sheets - USD ($) $ in Thousands
Jan. 28, 2017
Jan. 30, 2016
Jan. 31, 2015
Current assets:
Cash and cash equivalents
($ 2,929,849.00)
22.74% ($ 2,095,473.00)
18.24% ($ 2,493,775.00)
22.41%
Short-term investments
($
543,242.00)
4.22% ($ 352,313.00)
3.07% ($ 282,623.00)
2.54%
Accounts receivable, net
($
258,831.00)
2.01% ($ 238,072.00)
2.07% ($ 213,824.00)
1.92%
Merchandise inventories
($ 3,644,959.00)
28.29% ($ 3,695,113.00)
32.16% ($ 3,217,923.00)
28.92%
Prepaid expenses and other current assets
($
373,893.00)
2.90% ($ 391,589.00)
3.41% ($ 356,824.00)
3.21%
Federal, state, and foreign income taxes recoverable
($
- )
0.00% ($
- )
0.00% ($
12,475.00)
0.11%
Current deferred income taxes, net
($
- )
0.00% ($
- )
0.00% ($ 137,617.00)
1.24%
Total current assets
($ 7,750,774.00)
60.16% ($ 6,772,560.00)
58.94% ($ 6,715,061.00)
60.34%
Net property at cost
($ 4,532,894.00)
35.18% ($ 4,137,575.00)
36.01% ($ 3,868,365.00)
34.76%
Non-current deferred income taxes, net
($
6,193.00)
0.05% ($
13,831.00)
0.12% ($
24,546.00)
0.22%
Goodwill
($
195,871.00)
1.52% ($ 193,911.00)
1.69% ($ 309,870.00)
2.78%
Other assets
($
398,076.00)
3.09% ($ 372,554.00)
3.24% ($ 210,539.00)
1.89%
TOTAL ASSETS
($ 12,883,808.00)
100.00% ($ 11,490,431.00)
100.00% ($11,128,381.00)
100.00%
Liability and Shareholder's Equity
Current liabilities:
Accounts payable
($ 2,230,904.00)
17.32% ($ 2,203,050.00)
19.17% ($ 2,007,511.00)
18.04%
Accrued expenses and other current liabilities
($ 2,320,464.00)
18.01% ($ 2,069,659.00)
18.01% ($ 1,796,122.00)
16.14%
Federal, state and foreign income taxes payable
($
206,288.00)
1.60% ($ 129,521.00)
1.13% ($ 126,001.00)
1.13%
Total current liabilities
($ 4,757,656.00)
36.93% ($ 4,402,230.00)
38.31% ($ 3,929,634.00)
35.31%
Other long-term liabilities
($ 1,073,954.00)
8.34% ($ 881,021.00)
7.67% ($ 888,137.00)
7.98%
Non-current deferred income taxes, net
($
314,000.00)
2.44% ($ 285,102.00)
2.48% ($ 422,516.00)
3.80%
Long-term debt
($ 2,227,599.00)
17.29% ($ 1,615,003.00)
14.06% ($ 1,623,864.00)
14.59%
Total Liabilities
($ 8,373,209.00)
64.99% ($ 7,183,356.00)
62.52% ($ 6,864,151.00)
61.68%
SHAREHOLDERS' EQUITY
Common stock, authorized 1,200,000,000 shares, par value
($ $1, issued
646,319.00)
and outstanding 646,319,046
5.02% ($ and
663,496.00)
663,495,715, 684,733,200
5.77%and
($ 705,016,838,
684,733.00)respectively 6.15%
Additional paid-in capital
($
- )
0.00% ($
- )
0.00% ($
- )
0.00%
Accumulated other comprehensive income (loss)
($
(694,226.00)
-5.39% ($ (667,472.00)
-5.81% ($ (554,385.00)
-4.98%
Retained earnings
($ 4,558,506.00)
35.38% ($ 4,311,051.00)
37.52% ($ 4,133,882.00)
37.15%
Total shareholders' equity
($ 4,510,599.00)
35.01% ($ 4,307,075.00)
37.48% ($ 4,264,230.00)
38.32%
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
($ 12,883,808.00)
100.00% ($ 11,490,431.00)
100.00% ($11,128,381.00)
100.00%
Feb. 01, 2014
($ 2,149,746.00)
($ 294,702.00)
($ 210,094.00)
($ 2,966,490.00)
($ 345,327.00)
($
- )
($ 101,639.00)
($ 6,067,998.00)
($ 3,594,501.00)
($
31,508.00)
($ 312,687.00)
($ 194,328.00)
($10,201,022.00)
Feb. 02, 2013
21.07%
2.89%
2.06%
29.08%
3.39%
0.00%
1.00%
59.48%
35.24%
0.31%
3.07%
1.90%
100.00%
($
($
($
($
($
($
($
($
($
($
($
($
($
1,811,957.00)
235,853.00)
222,788.00)
3,014,214.00)
330,512.00)
- )
96,219.00)
5,711,543.00)
3,223,242.00)
- )
316,269.00)
260,801.00)
9,511,855.00)
19.05%
2.48%
2.34%
31.69%
3.47%
0.00%
1.01%
60.05%
33.89%
0.00%
3.32%
2.74%
100.00%
1,771,294.00)
1,681,834.00)
64,715.00)
3,517,843.00)
732,999.00)
446,071.00)
1,274,216.00)
5,971,129.00)
17.36%
16.49%
0.63%
34.49%
7.19%
4.37%
12.49%
58.53%
($
($
($
($
($
($
($
($
1,930,568.00)
1,666,216.00)
163,812.00)
3,760,596.00)
961,284.00)
349,486.00)
774,552.00)
5,845,918.00)
($ 705,017.00)
($
- )
($ (199,532.00)
($ 3,724,408.00)
($ 4,229,893.00)
($10,201,022.00)
6.91%
0.00%
-1.96%
36.51%
41.47%
100.00%
($
($
($
($
($
($
723,902.00)
- )
(213,392.00)
3,155,427.00)
3,665,937.00)
9,511,855.00)
20.30%
17.52%
1.72%
39.54%
10.11%
3.67%
8.14%
61.46%
0.00%
7.61%
0.00%
-2.24%
33.17%
38.54%
100.00%
Feb. 02, 2013
100.00% ($25,878,372.00)
71.49% ($18,521,400.00)
16.29% ($ 4,250,446.00)
100.00%
71.57%
16.42%
($
($
($
($
($
($
($
($
Consolidated Statements of Income - USD ($) shares in12
Thousands,
Months Ended
$ in Thousands
In Thousands, except Per Share data, unless otherwise specifiedJan. 28, 2017
Net sales
($ 33,183,744.00)
Cost of sales, including buying and occupancy costs
($ 23,565,754.00)
Selling, general and administrative expenses
($ 5,768,467.00)
Loss on early extinguishment of debt
($
51,773.00)
Pension settlement charge
($
31,173.00)
Interest expense, net
($
43,534.00)
Income before provision for income taxes
($ 3,723,043.00)
Provision for income taxes
($ 1,424,809.00)
Net income
($ 2,298,234.00)
Basic earnings per share:
Net income
($
3.51)
100.00%
71.02%
17.38%
0.16%
0.09%
0.13%
11.22%
4.29%
6.93%
Jan. 30, 2016
($ 30,944,938.00)
($ 22,034,523.00)
($ 5,205,715.00)
($
46,400.00)
($ 3,658,300.00)
($ 1,380,642.00)
($ 2,277,658.00)
0.00% ($
3.38)
Jan. 31, 2015
100.00% ($29,078,407.00)
71.21% ($20,776,522.00)
16.82% ($ 4,695,384.00)
($
16,830.00)
0.15%
11.82%
4.46%
7.36%
($
39,787.00)
($ 3,549,884.00)
($ 1,334,756.00)
($ 2,215,128.00)
0.00% ($
3.20)
Feb. 01, 2014
100.00% ($27,422,696.00)
71.45% ($19,605,037.00)
16.15% ($ 4,467,089.00)
0.06%
0.14%
12.21%
4.59%
7.62%
($
31,081.00)
($ 3,319,489.00)
($ 1,182,093.00)
($ 2,137,396.00)
0.00% ($
3.00)
0.11%
12.10%
4.31%
7.79%
($
29,175.00)
($ 3,077,351.00)
($ 1,170,664.00)
($ 1,906,687.00)
0.00% ($
2.60)
0.11%
11.89%
4.52%
7.37%
0.00%
Weighted average common shares - basic
Diluted earnings per share:
Net income
Weighted average common shares - diluted
Cash dividends declared per share
($
655,647.00)
1.98% ($
673,484.00)
2.18% ($
692,691.00)
2.38% ($
713,470.00)
2.60% ($
733,588.00)
2.83%
($
($
($
3.46)
664,432.00)
1.04)
0.00% ($
2.00% ($
0.00% ($
3.33)
683,251.00)
0.84)
0.00% ($
2.21% ($
0.00% ($
3.15)
703,545.00)
0.70)
0.00% ($
2.42% ($
0.00% ($
2.94)
726,376.00)
0.58)
0.00% ($
2.65% ($
0.00% ($
2.55)
747,555.00)
0.46)
0.00%
2.89%
0.00%
Stock Price
Outstanding Stock
70.15
4,510,599
CR
QR
TA turnover
Inventory turnover
DSI
AR turnover
DSR
Total debt ratio
Debt/equity ratio
TIE
Gross margin
Net profit margin
ROA
ROE
EPS
Price-earnings ratio
BV per share
Market-book ratio
Dupont Euqation
TAT
EM
Net Profit Margin
1.63 TCA/TCL
0.86 (TCA-INV)/TCL
2.58
0.15
2359.83
128.21
2.85
Sales/TA
INV/CGS
365/Invtur
Sales/AR
365/ARtur
0.65 TL/(TL+Equity)
1.86 TL/TE
86.52 EBIT/Interest
0.29
0.07
0.18
0.51
509.52
0.14
1000.00
0.07
EBIT/Sales
EAT/sales
EAT/TA
EAT/TE
EAT/CSoutstanding
Stockprice/EPS
TE/CSoutstanding
Stockprice/BV pershare
0.51 TAT*EM*NPM
2.58
2.86
0.07
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