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 5 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 is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year MAA was profitable.
MAA had a positive operating cash flow in the past year.
MAA had positive earnings in each of the past 5 years.
MAA had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
MAA has a Return On Assets of 4.76%. This is in the better half of the industry: MAA outperforms 80.00% of its industry peers.
Looking at the Return On Equity, with a value of 9.40%, MAA belongs to the top of the industry, outperforming 85.00% of the companies in the same industry.
With an excellent Return On Invested Capital value of 4.59%, MAA belongs to the best of the industry, outperforming 95.00% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for MAA is above the industry average of 2.62%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.76% | ||
| ROE | 9.4% | ||
| ROIC | 4.59% |
ROA(3y)4.95%
ROA(5y)4.36%
ROE(3y)9.42%
ROE(5y)8.27%
ROIC(3y)4.79%
ROIC(5y)4.19%
1.3 Margins
With an excellent Profit Margin value of 25.57%, MAA belongs to the best of the industry, outperforming 85.00% of the companies in the same industry.
In the last couple of years the Profit Margin of MAA has grown nicely.
The Operating Margin of MAA (29.61%) is better than 85.00% of its industry peers.
MAA's Operating Margin has improved in the last couple of years.
The Gross Margin of MAA (59.20%) is comparable to the rest of the industry.
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 | 29.61% | ||
| PM (TTM) | 25.57% | ||
| GM | 59.2% |
OM growth 3Y4.67%
OM growth 5Y2.72%
PM growth 3Y-7.07%
PM growth 5Y2.33%
GM growth 3Y0.09%
GM growth 5Y-0.01%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), MAA is destroying value.
Compared to 1 year ago, MAA has less shares outstanding
Compared to 5 years ago, MAA has more shares outstanding
MAA has a worse debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 1.92 indicates that MAA is not a great score, but indicates only limited risk for bankruptcy at the moment.
MAA's Altman-Z score of 1.92 is amongst the best of the industry. MAA outperforms 90.00% of its industry peers.
The Debt to FCF ratio of MAA is 43.43, which is on the high side as it means it would take MAA, 43.43 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of MAA (43.43) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.84 indicates that MAA is somewhat dependend on debt financing.
The Debt to Equity ratio of MAA (0.84) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | 43.43 | ||
| Altman-Z | 1.92 |
ROIC/WACC0.6
WACC7.7%
2.3 Liquidity
MAA has a Current Ratio of 0.14. 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 Current ratio of 0.14. This is in the lower half of the industry: MAA underperforms 70.00% of its industry peers.
A Quick Ratio of 0.06 indicates that MAA may have some problems paying its short term obligations.
MAA has a Quick ratio of 0.06. This is amonst the worse of the industry: MAA underperforms 80.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.14 | ||
| Quick Ratio | 0.06 |
3. Growth
3.1 Past
MAA shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 2.31%.
Measured over the past years, MAA shows a quite strong growth in Earnings Per Share. The EPS has been growing by 8.27% on average per year.
MAA shows a small growth in Revenue. In the last year, the Revenue has grown by 1.56%.
Measured over the past years, MAA shows a small growth in Revenue. The Revenue has been growing by 5.95% on average per year.
EPS 1Y (TTM)2.31%
EPS 3Y9.96%
EPS 5Y8.27%
EPS Q2Q%26.23%
Revenue 1Y (TTM)1.56%
Revenue growth 3Y7.21%
Revenue growth 5Y5.95%
Sales Q2Q%1.04%
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 5.28% yearly.
EPS Next Y-5.46%
EPS Next 2Y-7.73%
EPS Next 3Y-0.48%
EPS Next 5Y24.45%
Revenue Next Year1.31%
Revenue Next 2Y2.63%
Revenue Next 3Y3.48%
Revenue Next 5Y5.28%
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.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 30.77, MAA can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Earnings ratio of MAA indicates a rather cheap valuation: MAA is cheaper than 90.00% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of MAA to the average of the S&P500 Index (27.30), we can say MAA is valued inline with the index average.
With a Price/Forward Earnings ratio of 38.68, MAA can be considered very expensive at the moment.
85.00% of the companies in the same industry are more expensive than MAA, based on the Price/Forward Earnings ratio.
MAA is valuated expensively when we compare the Price/Forward Earnings ratio to 21.76, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.77 | ||
| Fwd PE | 38.68 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, MAA is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of MAA is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 151.4 | ||
| EV/EBITDA | 17.87 |
4.3 Compensation for Growth
The excellent profitability rating of MAA may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)3.72
EPS Next 2Y-7.73%
EPS Next 3Y-0.48%
5. Dividend
5.1 Amount
MAA has a Yearly Dividend Yield of 4.03%, which is a nice return.
MAA's Dividend Yield is comparable with the industry average which is at 4.66.
MAA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.37.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.03% |
5.2 History
On average, the dividend of MAA grows each year by 8.76%, which is quite nice.
MAA has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)8.76%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
123.94% 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.
DP123.94%
EPS Next 2Y-7.73%
EPS Next 3Y-0.48%
NYSE:MAA (7/9/2025, 10:21:02 AM)
150.15
-0.11 (-0.07%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners100.32%
Inst Owner Change0%
Ins Owners0.56%
Ins Owner Change1.16%
Market Cap17.58B
Analysts72.9
Price Target173.64 (15.64%)
Short Float %3.64%
Short Ratio4.67
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.03% |
Yearly Dividend5.89
Dividend Growth(5Y)8.76%
DP123.94%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)54.71%
Min EPS beat(2)38.63%
Max EPS beat(2)70.8%
EPS beat(4)2
Avg EPS beat(4)24.46%
Min EPS beat(4)-7.55%
Max EPS beat(4)70.8%
EPS beat(8)5
Avg EPS beat(8)17.04%
EPS beat(12)8
Avg EPS beat(12)22.4%
EPS beat(16)12
Avg EPS beat(16)26.59%
Revenue beat(2)0
Avg Revenue beat(2)-1.3%
Min Revenue beat(2)-1.34%
Max Revenue beat(2)-1.27%
Revenue beat(4)0
Avg Revenue beat(4)-1%
Min Revenue beat(4)-1.34%
Max Revenue beat(4)-0.58%
Revenue beat(8)0
Avg Revenue beat(8)-0.87%
Revenue beat(12)2
Avg Revenue beat(12)-0.63%
Revenue beat(16)4
Avg Revenue beat(16)-0.45%
PT rev (1m)0.59%
PT rev (3m)0.73%
EPS NQ rev (1m)-0.81%
EPS NQ rev (3m)-13.34%
EPS NY rev (1m)3.81%
EPS NY rev (3m)5.26%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.66%
Revenue NY rev (1m)-0.04%
Revenue NY rev (3m)-0.31%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.77 | ||
| Fwd PE | 38.68 | ||
| P/S | 8 | ||
| P/FCF | 151.4 | ||
| P/OCF | 16.06 | ||
| P/B | 2.94 | ||
| P/tB | 2.94 | ||
| EV/EBITDA | 17.87 |
EPS(TTM)4.88
EY3.25%
EPS(NY)3.88
Fwd EY2.59%
FCF(TTM)0.99
FCFY0.66%
OCF(TTM)9.35
OCFY6.23%
SpS18.77
BVpS51.03
TBVpS51.03
PEG (NY)N/A
PEG (5Y)3.72
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.76% | ||
| ROE | 9.4% | ||
| ROCE | 5.97% | ||
| ROIC | 4.59% | ||
| ROICexc | 4.61% | ||
| ROICexgc | 4.66% | ||
| OM | 29.61% | ||
| PM (TTM) | 25.57% | ||
| GM | 59.2% | ||
| FCFM | 5.29% |
ROA(3y)4.95%
ROA(5y)4.36%
ROE(3y)9.42%
ROE(5y)8.27%
ROIC(3y)4.79%
ROIC(5y)4.19%
ROICexc(3y)4.8%
ROICexc(5y)4.21%
ROICexgc(3y)4.86%
ROICexgc(5y)4.26%
ROCE(3y)6.1%
ROCE(5y)5.33%
ROICexcg growth 3Y10.7%
ROICexcg growth 5Y8.18%
ROICexc growth 3Y10.71%
ROICexc growth 5Y8.14%
OM growth 3Y4.67%
OM growth 5Y2.72%
PM growth 3Y-7.07%
PM growth 5Y2.33%
GM growth 3Y0.09%
GM growth 5Y-0.01%
F-Score3
Asset Turnover0.19
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | 43.43 | ||
| Debt/EBITDA | 4.05 | ||
| Cap/Depr | 164.28% | ||
| Cap/Sales | 44.55% | ||
| Interest Coverage | 3.53 | ||
| Cash Conversion | 87.85% | ||
| Profit Quality | 20.67% | ||
| Current Ratio | 0.14 | ||
| Quick Ratio | 0.06 | ||
| Altman-Z | 1.92 |
F-Score3
WACC7.7%
ROIC/WACC0.6
Cap/Depr(3y)143.54%
Cap/Depr(5y)125.9%
Cap/Sales(3y)38.3%
Cap/Sales(5y)35.02%
Profit Quality(3y)49.76%
Profit Quality(5y)69.71%
High Growth Momentum
Growth
EPS 1Y (TTM)2.31%
EPS 3Y9.96%
EPS 5Y8.27%
EPS Q2Q%26.23%
EPS Next Y-5.46%
EPS Next 2Y-7.73%
EPS Next 3Y-0.48%
EPS Next 5Y24.45%
Revenue 1Y (TTM)1.56%
Revenue growth 3Y7.21%
Revenue growth 5Y5.95%
Sales Q2Q%1.04%
Revenue Next Year1.31%
Revenue Next 2Y2.63%
Revenue Next 3Y3.48%
Revenue Next 5Y5.28%
EBIT growth 1Y-4.47%
EBIT growth 3Y12.21%
EBIT growth 5Y8.83%
EBIT Next Year88.31%
EBIT Next 3Y27.95%
EBIT Next 5Y22.18%
FCF growth 1Y-61.66%
FCF growth 3Y-21.89%
FCF growth 5Y-15.48%
OCF growth 1Y-0.23%
OCF growth 3Y7.06%
OCF growth 5Y7.05%