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Side-by-side financial comparison of Macy's, Inc. (M) and Workday, Inc. (WDAY). Click either name above to swap in a different company.
Macy's, Inc. is the larger business by last-quarter revenue ($4.7B vs $2.4B, roughly 1.9× Workday, Inc.). Workday, Inc. runs the higher net margin — 10.4% vs 0.2%, a 10.1% gap on every dollar of revenue. On growth, Workday, Inc. posted the faster year-over-year revenue change (12.6% vs -0.6%). Workday, Inc. produced more free cash flow last quarter ($550.0M vs $-101.0M). Over the past eight quarters, Workday, Inc.'s revenue compounded faster (12.5% 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...
Workday, Inc. is a leading global enterprise cloud software provider that develops and distributes human capital management, financial management, and enterprise resource planning solutions. It caters primarily to mid-sized and large organizations across sectors including education, healthcare, finance, and technology, with operations spanning North America, Europe, and Asia Pacific.
M vs WDAY — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $2.4B |
| Net Profit | $11.0M | $252.0M |
| Gross Margin | 39.4% | — |
| Operating Margin | 0.9% | 10.6% |
| Net Margin | 0.2% | 10.4% |
| Revenue YoY | -0.6% | 12.6% |
| Net Profit YoY | -60.7% | 30.6% |
| EPS (diluted) | $0.04 | $0.94 |
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 | $2.4B | ||
| Q3 25 | $4.8B | $2.3B | ||
| Q2 25 | $4.6B | $2.2B | ||
| Q1 25 | $7.8B | $2.2B | ||
| Q4 24 | $4.7B | $2.2B | ||
| Q3 24 | $4.9B | $2.1B | ||
| Q2 24 | $4.8B | $2.0B | ||
| Q1 24 | $8.1B | $1.9B |
| Q4 25 | $11.0M | $252.0M | ||
| Q3 25 | $87.0M | $228.0M | ||
| Q2 25 | $38.0M | $68.0M | ||
| Q1 25 | $342.0M | $94.0M | ||
| Q4 24 | $28.0M | $193.0M | ||
| Q3 24 | $150.0M | $132.0M | ||
| Q2 24 | $62.0M | $107.0M | ||
| Q1 24 | $-71.0M | $1.2B |
| 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% | 10.6% | ||
| Q3 25 | 3.1% | 10.6% | ||
| Q2 25 | 2.0% | 1.7% | ||
| Q1 25 | 6.4% | 3.4% | ||
| Q4 24 | 1.3% | 7.6% | ||
| Q3 24 | 4.5% | 5.3% | ||
| Q2 24 | 2.6% | 3.2% | ||
| Q1 24 | -0.9% | 4.1% |
| Q4 25 | 0.2% | 10.4% | ||
| Q3 25 | 1.8% | 9.7% | ||
| Q2 25 | 0.8% | 3.0% | ||
| Q1 25 | 4.4% | 4.3% | ||
| Q4 24 | 0.6% | 8.9% | ||
| Q3 24 | 3.0% | 6.3% | ||
| Q2 24 | 1.3% | 5.4% | ||
| Q1 24 | -0.9% | 61.8% |
| Q4 25 | $0.04 | $0.94 | ||
| Q3 25 | $0.31 | $0.84 | ||
| Q2 25 | $0.13 | $0.25 | ||
| Q1 25 | $1.22 | $0.34 | ||
| Q4 24 | $0.10 | $0.72 | ||
| Q3 24 | $0.53 | $0.49 | ||
| Q2 24 | $0.22 | $0.40 | ||
| Q1 24 | $-0.25 | $4.48 |
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 | $6.8B |
| Total DebtLower is stronger | $2.4B | — |
| Stockholders' EquityBook value | $4.3B | $8.9B |
| Total Assets | $17.1B | $17.8B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.0M | $6.8B | ||
| Q3 25 | $829.0M | $8.2B | ||
| Q2 25 | $932.0M | $8.0B | ||
| Q1 25 | $1.3B | $8.0B | ||
| Q4 24 | $315.0M | $7.2B | ||
| Q3 24 | $646.0M | $7.4B | ||
| Q2 24 | $876.0M | $7.2B | ||
| Q1 24 | $1.0B | $7.8B |
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.8B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | $3.0B | ||
| Q1 24 | $3.0B | $3.0B |
| Q4 25 | $4.3B | $8.9B | ||
| Q3 25 | $4.5B | $9.2B | ||
| Q2 25 | $4.5B | $8.9B | ||
| Q1 25 | $4.6B | $9.0B | ||
| Q4 24 | $4.1B | $8.6B | ||
| Q3 24 | $4.3B | $8.3B | ||
| Q2 24 | $4.2B | $8.2B | ||
| Q1 24 | $4.1B | $8.1B |
| Q4 25 | $17.1B | $17.8B | ||
| Q3 25 | $15.6B | $18.0B | ||
| Q2 25 | $16.1B | $17.2B | ||
| Q1 25 | $16.4B | $18.0B | ||
| Q4 24 | $17.3B | $16.4B | ||
| Q3 24 | $15.8B | $16.2B | ||
| Q2 24 | $16.4B | $15.9B | ||
| Q1 24 | $16.2B | $16.5B |
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.72× | 0.37× | ||
| Q1 24 | 0.72× | 0.37× |
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 | $588.0M |
| Free Cash FlowOCF − Capex | $-101.0M | $550.0M |
| FCF MarginFCF / Revenue | -2.1% | 22.6% |
| Capex IntensityCapex / Revenue | 2.0% | 1.6% |
| Cash ConversionOCF / Net Profit | -0.73× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.0M | $588.0M | ||
| Q3 25 | $319.0M | $616.0M | ||
| Q2 25 | $-64.0M | $457.0M | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $-167.0M | $406.0M | ||
| Q3 24 | $8.0M | $571.0M | ||
| Q2 24 | $129.0M | $372.0M | ||
| Q1 24 | $1.1B | $995.6M |
| Q4 25 | $-101.0M | $550.0M | ||
| Q3 25 | $240.0M | $588.0M | ||
| Q2 25 | $-164.0M | $421.0M | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $-295.0M | $359.0M | ||
| Q3 24 | $-109.0M | $516.0M | ||
| Q2 24 | $-25.0M | $291.0M | ||
| Q1 24 | $1.0B | $947.6M |
| Q4 25 | -2.1% | 22.6% | ||
| Q3 25 | 5.0% | 25.0% | ||
| Q2 25 | -3.6% | 18.8% | ||
| Q1 25 | 15.3% | 46.4% | ||
| Q4 24 | -6.2% | 16.6% | ||
| Q3 24 | -2.2% | 24.7% | ||
| Q2 24 | -0.5% | 14.6% | ||
| Q1 24 | 12.3% | 49.3% |
| Q4 25 | 2.0% | 1.6% | ||
| Q3 25 | 1.6% | 1.2% | ||
| Q2 25 | 2.2% | 1.6% | ||
| Q1 25 | 1.5% | 3.9% | ||
| Q4 24 | 2.7% | 2.2% | ||
| Q3 24 | 2.4% | 2.6% | ||
| Q2 24 | 3.2% | 4.1% | ||
| Q1 24 | 1.8% | 2.5% |
| Q4 25 | -0.73× | 2.33× | ||
| Q3 25 | 3.67× | 2.70× | ||
| Q2 25 | -1.68× | 6.72× | ||
| Q1 25 | 3.82× | 11.83× | ||
| Q4 24 | -5.96× | 2.10× | ||
| Q3 24 | 0.05× | 4.33× | ||
| Q2 24 | 2.08× | 3.48× | ||
| Q1 24 | — | 0.84× |
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% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
