vs
Side-by-side financial comparison of Macy's, Inc. (M) and Principal Financial Group (PFG). Click either name above to swap in a different company.
Macy's, Inc. is the larger business by last-quarter revenue ($4.7B vs $4.6B, roughly 1.0× Principal Financial Group). Principal Financial Group runs the higher net margin — 11.3% vs 0.2%, a 11.1% gap on every dollar of revenue. On growth, Macy's, Inc. posted the faster year-over-year revenue change (-0.6% vs -3.7%). Over the past eight quarters, Principal Financial Group's revenue compounded faster (6.3% CAGR vs -23.8%).
Macy's, Inc. is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, Filene's, and Shillito's. Bloomingdale's joined Federated Department Stores the next year. Throughout its early history, frequent acquisitions and divestitures saw the company operate a number of nameplates. In 1994, Federated took over Macy's, the old department store chain originally founded in 1858 by A...
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
M vs PFG — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $4.6B |
| Net Profit | $11.0M | $517.0M |
| Gross Margin | 39.4% | — |
| Operating Margin | 0.9% | — |
| Net Margin | 0.2% | 11.3% |
| Revenue YoY | -0.6% | -3.7% |
| Net Profit YoY | -60.7% | -42.9% |
| EPS (diluted) | $0.04 | $2.30 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.7B | $4.6B | ||
| Q3 25 | $4.8B | $3.7B | ||
| Q2 25 | $4.6B | $3.7B | ||
| Q1 25 | $7.8B | $3.7B | ||
| Q4 24 | $4.7B | $4.8B | ||
| Q3 24 | $4.9B | $3.0B | ||
| Q2 24 | $4.8B | $4.3B | ||
| Q1 24 | $8.1B | $4.1B |
| Q4 25 | $11.0M | $517.0M | ||
| Q3 25 | $87.0M | $213.8M | ||
| Q2 25 | $38.0M | $406.2M | ||
| Q1 25 | $342.0M | $48.1M | ||
| Q4 24 | $28.0M | $905.4M | ||
| Q3 24 | $150.0M | $-220.0M | ||
| Q2 24 | $62.0M | $353.1M | ||
| Q1 24 | $-71.0M | $532.5M |
| Q4 25 | 39.4% | — | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 39.2% | — | ||
| Q1 25 | 35.7% | — | ||
| Q4 24 | 39.6% | — | ||
| Q3 24 | 40.5% | — | ||
| Q2 24 | 39.2% | — | ||
| Q1 24 | 37.5% | — |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 2.6% | — | ||
| Q1 24 | -0.9% | — |
| Q4 25 | 0.2% | 11.3% | ||
| Q3 25 | 1.8% | 5.8% | ||
| Q2 25 | 0.8% | 11.1% | ||
| Q1 25 | 4.4% | 1.3% | ||
| Q4 24 | 0.6% | 19.1% | ||
| Q3 24 | 3.0% | -7.3% | ||
| Q2 24 | 1.3% | 8.2% | ||
| Q1 24 | -0.9% | 13.1% |
| Q4 25 | $0.04 | $2.30 | ||
| Q3 25 | $0.31 | $0.95 | ||
| Q2 25 | $0.13 | $1.79 | ||
| Q1 25 | $1.22 | $0.21 | ||
| Q4 24 | $0.10 | $3.92 | ||
| Q3 24 | $0.53 | $-0.95 | ||
| Q2 24 | $0.22 | $1.49 | ||
| Q1 24 | $-0.25 | $2.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $447.0M | $4.4B |
| Total DebtLower is stronger | $2.4B | $3.9B |
| Stockholders' EquityBook value | $4.3B | $11.9B |
| Total Assets | $17.1B | $341.4B |
| Debt / EquityLower = less leverage | 0.56× | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.0M | $4.4B | ||
| Q3 25 | $829.0M | $5.1B | ||
| Q2 25 | $932.0M | $3.7B | ||
| Q1 25 | $1.3B | $3.9B | ||
| Q4 24 | $315.0M | $4.2B | ||
| Q3 24 | $646.0M | $6.2B | ||
| Q2 24 | $876.0M | $4.8B | ||
| Q1 24 | $1.0B | $4.2B |
| Q4 25 | $2.4B | $3.9B | ||
| Q3 25 | $2.4B | $3.9B | ||
| Q2 25 | $2.8B | $3.9B | ||
| Q1 25 | $2.8B | $4.3B | ||
| Q4 24 | $2.8B | $4.0B | ||
| Q3 24 | $3.0B | $3.9B | ||
| Q2 24 | $3.0B | $3.9B | ||
| Q1 24 | $3.0B | $3.9B |
| Q4 25 | $4.3B | $11.9B | ||
| Q3 25 | $4.5B | $11.7B | ||
| Q2 25 | $4.5B | $11.4B | ||
| Q1 25 | $4.6B | $11.2B | ||
| Q4 24 | $4.1B | $11.1B | ||
| Q3 24 | $4.3B | $11.2B | ||
| Q2 24 | $4.2B | $11.0B | ||
| Q1 24 | $4.1B | $11.2B |
| Q4 25 | $17.1B | $341.4B | ||
| Q3 25 | $15.6B | $334.5B | ||
| Q2 25 | $16.1B | $323.1B | ||
| Q1 25 | $16.4B | $313.0B | ||
| Q4 24 | $17.3B | $313.7B | ||
| Q3 24 | $15.8B | $322.9B | ||
| Q2 24 | $16.4B | $308.8B | ||
| Q1 24 | $16.2B | $308.7B |
| Q4 25 | 0.56× | 0.33× | ||
| Q3 25 | 0.55× | 0.34× | ||
| Q2 25 | 0.62× | 0.34× | ||
| Q1 25 | 0.61× | 0.39× | ||
| Q4 24 | 0.67× | 0.36× | ||
| Q3 24 | 0.70× | 0.35× | ||
| Q2 24 | 0.72× | 0.36× | ||
| Q1 24 | 0.72× | 0.35× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-8.0M | $1.7B |
| Free Cash FlowOCF − Capex | $-101.0M | — |
| FCF MarginFCF / Revenue | -2.1% | — |
| Capex IntensityCapex / Revenue | 2.0% | — |
| Cash ConversionOCF / Net Profit | -0.73× | 3.37× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.0M | $1.7B | ||
| Q3 25 | $319.0M | $1.0B | ||
| Q2 25 | $-64.0M | $811.9M | ||
| Q1 25 | $1.3B | $977.3M | ||
| Q4 24 | $-167.0M | $1.5B | ||
| Q3 24 | $8.0M | $1.1B | ||
| Q2 24 | $129.0M | $1.4B | ||
| Q1 24 | $1.1B | $584.2M |
| Q4 25 | $-101.0M | — | ||
| Q3 25 | $240.0M | — | ||
| Q2 25 | $-164.0M | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $-295.0M | — | ||
| Q3 24 | $-109.0M | — | ||
| Q2 24 | $-25.0M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | -2.1% | — | ||
| Q3 25 | 5.0% | — | ||
| Q2 25 | -3.6% | — | ||
| Q1 25 | 15.3% | — | ||
| Q4 24 | -6.2% | — | ||
| Q3 24 | -2.2% | — | ||
| Q2 24 | -0.5% | — | ||
| Q1 24 | 12.3% | — |
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 1.8% | — |
| Q4 25 | -0.73× | 3.37× | ||
| Q3 25 | 3.67× | 4.70× | ||
| Q2 25 | -1.68× | 2.00× | ||
| Q1 25 | 3.82× | 20.32× | ||
| Q4 24 | -5.96× | 1.61× | ||
| Q3 24 | 0.05× | — | ||
| Q2 24 | 2.08× | 4.05× | ||
| Q1 24 | — | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
