vs
Side-by-side financial comparison of Macy's, Inc. (M) and Union Pacific Corporation (UNP). Click either name above to swap in a different company.
Union Pacific Corporation is the larger business by last-quarter revenue ($6.2B vs $4.7B, roughly 1.3× Macy's, Inc.). Union Pacific Corporation runs the higher net margin — 27.4% vs 0.2%, a 27.1% gap on every dollar of revenue. On growth, Union Pacific Corporation posted the faster year-over-year revenue change (3.2% vs -0.6%). Union Pacific Corporation produced more free cash flow last quarter ($631.0M vs $-101.0M). Over the past eight quarters, Union Pacific Corporation's revenue compounded faster (1.7% 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...
The Union Pacific Railroad Company is a Class I freight-hauling railroad that operates 8,300 locomotives over 32,200 miles (51,800 km) routes in 23 U.S. states west of Chicago and New Orleans. Union Pacific is the second-largest railroad in the United States after BNSF.
M vs UNP — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $6.2B |
| Net Profit | $11.0M | $1.7B |
| Gross Margin | 39.4% | — |
| Operating Margin | 0.9% | 39.5% |
| Net Margin | 0.2% | 27.4% |
| Revenue YoY | -0.6% | 3.2% |
| Net Profit YoY | -60.7% | -2.1% |
| EPS (diluted) | $0.04 | $2.87 |
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.
| Q1 26 | — | $6.2B | ||
| Q4 25 | $4.7B | $6.1B | ||
| Q3 25 | $4.8B | $6.2B | ||
| Q2 25 | $4.6B | $6.2B | ||
| Q1 25 | $7.8B | $6.0B | ||
| Q4 24 | $4.7B | $6.1B | ||
| Q3 24 | $4.9B | $6.1B | ||
| Q2 24 | $4.8B | $6.0B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $11.0M | $1.8B | ||
| Q3 25 | $87.0M | $1.8B | ||
| Q2 25 | $38.0M | $1.9B | ||
| Q1 25 | $342.0M | $1.6B | ||
| Q4 24 | $28.0M | $1.8B | ||
| Q3 24 | $150.0M | $1.7B | ||
| Q2 24 | $62.0M | $1.7B |
| Q1 26 | — | — | ||
| 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 26 | — | 39.5% | ||
| Q4 25 | 0.9% | 39.5% | ||
| Q3 25 | 3.1% | 40.8% | ||
| Q2 25 | 2.0% | 41.0% | ||
| Q1 25 | 6.4% | 39.3% | ||
| Q4 24 | 1.3% | 41.3% | ||
| Q3 24 | 4.5% | 39.7% | ||
| Q2 24 | 2.6% | 40.0% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 0.2% | 30.4% | ||
| Q3 25 | 1.8% | 28.6% | ||
| Q2 25 | 0.8% | 30.5% | ||
| Q1 25 | 4.4% | 27.0% | ||
| Q4 24 | 0.6% | 28.8% | ||
| Q3 24 | 3.0% | 27.4% | ||
| Q2 24 | 1.3% | 27.9% |
| Q1 26 | — | $2.87 | ||
| Q4 25 | $0.04 | $3.12 | ||
| Q3 25 | $0.31 | $3.01 | ||
| Q2 25 | $0.13 | $3.15 | ||
| Q1 25 | $1.22 | $2.70 | ||
| Q4 24 | $0.10 | $2.91 | ||
| Q3 24 | $0.53 | $2.75 | ||
| Q2 24 | $0.22 | $2.74 |
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 | $735.0M |
| Total DebtLower is stronger | $2.4B | — |
| Stockholders' EquityBook value | $4.3B | — |
| Total Assets | $17.1B | $69.6B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $735.0M | ||
| Q4 25 | $447.0M | $1.3B | ||
| Q3 25 | $829.0M | $808.0M | ||
| Q2 25 | $932.0M | $1.1B | ||
| Q1 25 | $1.3B | $1.4B | ||
| Q4 24 | $315.0M | $1.0B | ||
| Q3 24 | $646.0M | $947.0M | ||
| Q2 24 | $876.0M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | $30.3B | ||
| Q3 25 | $2.4B | $30.3B | ||
| Q2 25 | $2.8B | $30.3B | ||
| Q1 25 | $2.8B | $30.6B | ||
| Q4 24 | $2.8B | $29.8B | ||
| Q3 24 | $3.0B | $29.8B | ||
| Q2 24 | $3.0B | $31.2B |
| Q1 26 | — | — | ||
| Q4 25 | $4.3B | $18.5B | ||
| Q3 25 | $4.5B | $17.3B | ||
| Q2 25 | $4.5B | $16.3B | ||
| Q1 25 | $4.6B | $16.0B | ||
| Q4 24 | $4.1B | $16.9B | ||
| Q3 24 | $4.3B | $16.6B | ||
| Q2 24 | $4.2B | $16.5B |
| Q1 26 | — | $69.6B | ||
| Q4 25 | $17.1B | $69.7B | ||
| Q3 25 | $15.6B | $68.6B | ||
| Q2 25 | $16.1B | $68.6B | ||
| Q1 25 | $16.4B | $68.5B | ||
| Q4 24 | $17.3B | $67.7B | ||
| Q3 24 | $15.8B | $67.6B | ||
| Q2 24 | $16.4B | $67.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.56× | 1.64× | ||
| Q3 25 | 0.55× | 1.75× | ||
| Q2 25 | 0.62× | 1.86× | ||
| Q1 25 | 0.61× | 1.91× | ||
| Q4 24 | 0.67× | 1.76× | ||
| Q3 24 | 0.70× | 1.79× | ||
| Q2 24 | 0.72× | 1.89× |
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 | — |
| Free Cash FlowOCF − Capex | $-101.0M | $631.0M |
| FCF MarginFCF / Revenue | -2.1% | 10.1% |
| Capex IntensityCapex / Revenue | 2.0% | — |
| Cash ConversionOCF / Net Profit | -0.73× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-8.0M | $2.2B | ||
| Q3 25 | $319.0M | $2.5B | ||
| Q2 25 | $-64.0M | $2.3B | ||
| Q1 25 | $1.3B | $2.2B | ||
| Q4 24 | $-167.0M | $2.7B | ||
| Q3 24 | $8.0M | $2.7B | ||
| Q2 24 | $129.0M | $1.9B |
| Q1 26 | — | $631.0M | ||
| Q4 25 | $-101.0M | $1.2B | ||
| Q3 25 | $240.0M | $1.6B | ||
| Q2 25 | $-164.0M | $1.4B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $-295.0M | $1.7B | ||
| Q3 24 | $-109.0M | $1.8B | ||
| Q2 24 | $-25.0M | $1.0B |
| Q1 26 | — | 10.1% | ||
| Q4 25 | -2.1% | 20.1% | ||
| Q3 25 | 5.0% | 25.2% | ||
| Q2 25 | -3.6% | 22.7% | ||
| Q1 25 | 15.3% | 21.6% | ||
| Q4 24 | -6.2% | 28.4% | ||
| Q3 24 | -2.2% | 29.9% | ||
| Q2 24 | -0.5% | 16.8% |
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 16.4% | ||
| Q3 25 | 1.6% | 15.2% | ||
| Q2 25 | 2.2% | 15.2% | ||
| Q1 25 | 1.5% | 15.0% | ||
| Q4 24 | 2.7% | 15.1% | ||
| Q3 24 | 2.4% | 13.6% | ||
| Q2 24 | 3.2% | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | -0.73× | 1.20× | ||
| Q3 25 | 3.67× | 1.41× | ||
| Q2 25 | -1.68× | 1.24× | ||
| Q1 25 | 3.82× | 1.36× | ||
| Q4 24 | -5.96× | 1.51× | ||
| Q3 24 | 0.05× | 1.59× | ||
| Q2 24 | 2.08× | 1.14× |
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% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
