MID-AMERICA APARTMENT COMM (MAA) Stock Fundamental Analysis
NYSE:MAA - New York Stock Exchange, Inc. - US59522J1034 - REIT - Currency: USD
Taking everything into account, MAA scores 4 out of 10 in our fundamental rating. MAA was compared to 20 industry peers in the Residential REITs industry. MAA has an excellent profitability rating, but there are concerns on its financial health. MAA does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year MAA was profitable.
In the past year MAA had a positive cash flow from operations.
MAA had positive earnings in 4 of the past 5 years.
MAA had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
MAA's Return On Assets of 4.40% is amongst the best of the industry. MAA outperforms 85.00% of its industry peers.
MAA has a Return On Equity of 8.67%. This is in the better half of the industry: MAA outperforms 80.00% of its industry peers.
MAA's Return On Invested Capital of 4.81% is amongst the best of the industry. MAA outperforms 95.00% of its industry peers.
The Average Return On Invested Capital over the past 3 years for MAA is in line with the industry average of 2.75%.
The 3 year average ROIC (4.38%) for MAA is below the current ROIC(4.81%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.4% | ||
| ROE | 8.67% | ||
| ROIC | 4.81% |
ROA(3y)5.04%
ROA(5y)4.09%
ROE(3y)9.44%
ROE(5y)7.67%
ROIC(3y)4.38%
ROIC(5y)3.89%
1.3 Margins
MAA's Profit Margin of 23.70% is fine compared to the rest of the industry. MAA outperforms 80.00% of its industry peers.
In the last couple of years the Profit Margin of MAA has grown nicely.
The Operating Margin of MAA (30.74%) is better than 90.00% of its industry peers.
In the last couple of years the Operating Margin of MAA has grown nicely.
The Gross Margin of MAA (59.75%) is better than 70.00% of its industry peers.
In the last couple of years the Gross Margin of MAA has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 30.74% | ||
| PM (TTM) | 23.7% | ||
| GM | 59.75% |
OM growth 3Y7.97%
OM growth 5Y4.48%
PM growth 3Y19.55%
PM growth 5Y12.9%
GM growth 3Y1.33%
GM growth 5Y0.66%
2. Health
2.1 Basic Checks
MAA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
There is no outstanding debt for MAA. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
2.2 Solvency
An Altman-Z score of 2.15 indicates that MAA is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.15, MAA belongs to the top of the industry, outperforming 90.00% of the companies in the same industry.
MAA has a debt to FCF ratio of 46.11. This is a negative value and a sign of low solvency as MAA would need 46.11 years to pay back of all of its debts.
MAA has a Debt to FCF ratio (46.11) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.82 indicates that MAA is somewhat dependend on debt financing.
MAA has a better Debt to Equity ratio (0.82) than 65.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 46.11 | ||
| Altman-Z | 2.15 |
ROIC/WACC0.62
WACC7.74%
2.3 Liquidity
A Current Ratio of 0.10 indicates that MAA may have some problems paying its short term obligations.
MAA has a Current ratio of 0.10. This is in the lower half of the industry: MAA underperforms 75.00% of its industry peers.
MAA has a Quick Ratio of 0.10. This is a bad value and indicates that MAA is not financially healthy enough and could expect problems in meeting its short term obligations.
MAA has a Quick ratio of 0.04. This is amonst the worse of the industry: MAA underperforms 90.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.1 | ||
| Quick Ratio | 0.04 |
3. Growth
3.1 Past
The earnings per share for MAA have decreased by -3.18% in the last year.
MAA shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.27% yearly.
EPS 1Y (TTM)-3.18%
EPS 3Y9.96%
EPS 5Y8.27%
EPS Q2Q%3.65%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%1.4%
3.2 Future
MAA is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 24.45% yearly.
MAA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.26% yearly.
EPS Next Y-6.44%
EPS Next 2Y-0.4%
EPS Next 3Y1.99%
EPS Next 5Y24.45%
Revenue Next Year1.9%
Revenue Next 2Y2.92%
Revenue Next 3Y3.85%
Revenue Next 5Y5.26%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 36.72, MAA can be considered very expensive at the moment.
The rest of the industry has a similar Price/Earnings ratio as MAA.
MAA's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 29.71.
MAA is valuated quite expensively with a Price/Forward Earnings ratio of 39.24.
Based on the Price/Forward Earnings ratio, MAA is valued cheaply inside the industry as 90.00% of the companies are valued more expensively.
MAA is valuated expensively when we compare the Price/Forward Earnings ratio to 22.34, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.72 | ||
| Fwd PE | 39.24 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, MAA is valued a bit cheaper than 65.00% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, MAA is valued a bit more expensive than 60.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 185.09 | ||
| EV/EBITDA | 19.41 |
4.3 Compensation for Growth
MAA has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)4.44
EPS Next 2Y-0.4%
EPS Next 3Y1.99%
5. Dividend
5.1 Amount
MAA has a Yearly Dividend Yield of 3.63%.
MAA's Dividend Yield is comparable with the industry average which is at 4.06.
MAA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.30.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.63% |
5.2 History
The dividend of MAA is nicely growing with an annual growth rate of 8.70%!
MAA has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of MAA decreased recently.
Dividend Growth(5Y)8.7%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
131.83% of the earnings are spent on dividend by MAA. This is not a sustainable payout ratio.
The dividend of MAA is growing, but earnings are growing more, so the dividend growth is sustainable.
DP131.83%
EPS Next 2Y-0.4%
EPS Next 3Y1.99%
NYSE:MAA (3/6/2025, 11:21:04 AM)
167.43
-2.6 (-1.53%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners97.36%
Inst Owner Change3.53%
Ins Owners0.6%
Ins Owner Change0.35%
Market Cap19.57B
Analysts72.9
Price Target167.2 (-0.14%)
Short Float %3.24%
Short Ratio5.01
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.63% |
Yearly Dividend5.64
Dividend Growth(5Y)8.7%
DP131.83%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-5.79%
Min EPS beat(2)-7.55%
Max EPS beat(2)-4.03%
EPS beat(4)2
Avg EPS beat(4)8.06%
Min EPS beat(4)-7.55%
Max EPS beat(4)26.18%
EPS beat(8)5
Avg EPS beat(8)9.08%
EPS beat(12)8
Avg EPS beat(12)23.76%
EPS beat(16)11
Avg EPS beat(16)19.77%
Revenue beat(2)0
Avg Revenue beat(2)-0.69%
Min Revenue beat(2)-0.8%
Max Revenue beat(2)-0.58%
Revenue beat(4)0
Avg Revenue beat(4)-0.73%
Min Revenue beat(4)-1.09%
Max Revenue beat(4)-0.46%
Revenue beat(8)0
Avg Revenue beat(8)-0.82%
Revenue beat(12)2
Avg Revenue beat(12)-0.49%
Revenue beat(16)4
Avg Revenue beat(16)-0.38%
PT rev (1m)0.24%
PT rev (3m)0.38%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.63%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.56%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.19%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.03%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.72 | ||
| Fwd PE | 39.24 | ||
| P/S | 8.96 | ||
| P/FCF | 185.09 | ||
| P/OCF | 17.41 | ||
| P/B | 3.28 | ||
| P/tB | 3.28 | ||
| EV/EBITDA | 19.41 |
EPS(TTM)4.56
EY2.72%
EPS(NY)4.27
Fwd EY2.55%
FCF(TTM)0.9
FCFY0.54%
OCF(TTM)9.62
OCFY5.74%
SpS18.68
BVpS51.08
TBVpS51.08
PEG (NY)N/A
PEG (5Y)4.44
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.4% | ||
| ROE | 8.67% | ||
| ROCE | 6.37% | ||
| ROIC | 4.81% | ||
| ROICexc | 4.83% | ||
| ROICexgc | 4.89% | ||
| OM | 30.74% | ||
| PM (TTM) | 23.7% | ||
| GM | 59.75% | ||
| FCFM | 4.84% |
ROA(3y)5.04%
ROA(5y)4.09%
ROE(3y)9.44%
ROE(5y)7.67%
ROIC(3y)4.38%
ROIC(5y)3.89%
ROICexc(3y)4.39%
ROICexc(5y)3.9%
ROICexgc(3y)4.45%
ROICexgc(5y)3.95%
ROCE(3y)5.54%
ROCE(5y)4.92%
ROICexcg growth 3Y16.8%
ROICexcg growth 5Y11.48%
ROICexc growth 3Y16.67%
ROICexc growth 5Y11.39%
OM growth 3Y7.97%
OM growth 5Y4.48%
PM growth 3Y19.55%
PM growth 5Y12.9%
GM growth 3Y1.33%
GM growth 5Y0.66%
F-Score4
Asset Turnover0.19
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 46.11 | ||
| Debt/EBITDA | 3.91 | ||
| Cap/Depr | 176.67% | ||
| Cap/Sales | 46.64% | ||
| Interest Coverage | 3.76 | ||
| Cash Conversion | 90.1% | ||
| Profit Quality | 20.44% | ||
| Current Ratio | 0.1 | ||
| Quick Ratio | 0.04 | ||
| Altman-Z | 2.15 |
F-Score4
WACC7.74%
ROIC/WACC0.62
Cap/Depr(3y)125.02%
Cap/Depr(5y)110.33%
Cap/Sales(3y)34.49%
Cap/Sales(5y)31.44%
Profit Quality(3y)60.77%
Profit Quality(5y)84.91%
High Growth Momentum
Growth
EPS 1Y (TTM)-3.18%
EPS 3Y9.96%
EPS 5Y8.27%
EPS Q2Q%3.65%
EPS Next Y-6.44%
EPS Next 2Y-0.4%
EPS Next 3Y1.99%
EPS Next 5Y24.45%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%1.4%
Revenue Next Year1.9%
Revenue Next 2Y2.92%
Revenue Next 3Y3.85%
Revenue Next 5Y5.26%
EBIT growth 1Y-2.57%
EBIT growth 3Y17.24%
EBIT growth 5Y11.23%
EBIT Next Year82.1%
EBIT Next 3Y24.74%
EBIT Next 5Y18.22%
FCF growth 1Y-65.33%
FCF growth 3Y3.26%
FCF growth 5Y1.35%
OCF growth 1Y9.77%
OCF growth 3Y11.34%
OCF growth 5Y9.14%