MID-AMERICA APARTMENT COMM (MAA) Stock Fundamental Analysis
USA - NYSE:MAA - US59522J1034 - REIT
130.94 USD
+0.39 (+0.3%)
130.94 USD
0 (0%)
Overall MAA gets a fundamental rating of 5 out of 10. We evaluated MAA against 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
MAA had positive earnings in the past year.
In the past year MAA had a positive cash flow from operations.
MAA had positive earnings in each of the past 5 years.
In the past 5 years MAA always reported a positive cash flow from operatings.
1.2 Ratios
MAA's Return On Assets of 4.63% is fine compared to the rest of the industry. MAA outperforms 75.00% of its industry peers.
The Return On Equity of MAA (9.46%) is better than 75.00% of its industry peers.
MAA's Return On Invested Capital of 4.40% is amongst the best of the industry. MAA outperforms 95.00% of its industry peers.
MAA had an Average Return On Invested Capital over the past 3 years of 4.79%. This is above the industry average of 2.60%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.63% | ||
| ROE | 9.46% | ||
| ROIC | 4.4% |
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
MAA has a Profit Margin of 25.06%. This is in the better half of the industry: MAA outperforms 75.00% of its industry peers.
MAA's Profit Margin has improved in the last couple of years.
MAA's Operating Margin of 28.33% is amongst the best of the industry. MAA outperforms 85.00% of its industry peers.
MAA's Operating Margin has improved in the last couple of years.
MAA has a Gross Margin (58.66%) which is comparable to the rest of the industry.
MAA's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 28.33% | ||
| PM (TTM) | 25.06% | ||
| GM | 58.66% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MAA is destroying value.
MAA has less shares outstanding than it did 1 year ago.
MAA has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, MAA has a worse debt to assets ratio.
2.2 Solvency
MAA has an Altman-Z score of 1.57. This is a bad value and indicates that MAA is not financially healthy and even has some risk of bankruptcy.
With a decent Altman-Z score value of 1.57, MAA is doing good in the industry, outperforming 80.00% of the companies in the same industry.
The Debt to FCF ratio of MAA is 22.68, which is on the high side as it means it would take MAA, 22.68 years of fcf income to pay off all of its debts.
MAA has a better Debt to FCF ratio (22.68) than 70.00% of its industry peers.
A Debt/Equity ratio of 0.89 indicates that MAA is somewhat dependend on debt financing.
MAA has a Debt to Equity ratio (0.89) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.89 | ||
| Debt/FCF | 22.68 | ||
| Altman-Z | 1.57 |
ROIC/WACC0.6
WACC7.35%
2.3 Liquidity
A Current Ratio of 0.09 indicates that MAA may have some problems paying its short term obligations.
The Current ratio of MAA (0.09) is worse than 75.00% of its industry peers.
A Quick Ratio of 0.03 indicates that MAA may have some problems paying its short term obligations.
MAA has a Quick ratio of 0.03. This is amonst the worse of the industry: MAA underperforms 90.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.09 | ||
| Quick Ratio | 0.03 |
3. Growth
3.1 Past
MAA shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 4.66%.
The Earnings Per Share has been growing by 8.27% on average over the past years. This is quite good.
The Revenue has been growing slightly by 0.91% in the past year.
MAA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.95% yearly.
EPS 1Y (TTM)4.66%
EPS 3Y9.96%
EPS 5Y8.27%
EPS Q2Q%-14.29%
Revenue 1Y (TTM)0.91%
Revenue growth 3Y7.21%
Revenue growth 5Y5.95%
Sales Q2Q%0.59%
3.2 Future
The Earnings Per Share is expected to grow by 24.45% on average over the next years. This is a very strong growth
Based on estimates for the next years, MAA will show a small growth in Revenue. The Revenue will grow by 4.78% on average per year.
EPS Next Y-4.47%
EPS Next 2Y-9.18%
EPS Next 3Y-1.98%
EPS Next 5Y24.45%
Revenue Next Year0.86%
Revenue Next 2Y1.86%
Revenue Next 3Y2.75%
Revenue Next 5Y4.78%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 27.74, which means the current valuation is very expensive for MAA.
75.00% of the companies in the same industry are more expensive than MAA, based on the Price/Earnings ratio.
MAA's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 25.89.
With a Price/Forward Earnings ratio of 34.81, MAA can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, MAA is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 34.59. MAA is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.74 | ||
| Fwd PE | 34.81 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, MAA is valued cheaper than 90.00% of the companies in the same industry.
MAA's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 66.9 | ||
| EV/EBITDA | 16.18 |
4.3 Compensation for Growth
The decent profitability rating of MAA may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)3.35
EPS Next 2Y-9.18%
EPS Next 3Y-1.98%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.64%, MAA is a good candidate for dividend investing.
MAA's Dividend Yield is comparable with the industry average which is at 7.22.
MAA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.64% |
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
MAA pays out 128.07% of its income as dividend. This is not a sustainable payout ratio.
The dividend of MAA is growing, but earnings are growing more, so the dividend growth is sustainable.
DP128.07%
EPS Next 2Y-9.18%
EPS Next 3Y-1.98%
130.94
+0.39 (+0.3%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners98.01%
Inst Owner Change-0.41%
Ins Owners0.56%
Ins Owner Change0.4%
Market Cap15.33B
Revenue(TTM)2.20B
Net Income(TTM)552.18M
Analysts70.97
Price Target159.57 (21.86%)
Short Float %3.38%
Short Ratio5.02
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.64% |
Yearly Dividend5.89
Dividend Growth(5Y)8.76%
DP128.07%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.86%
Min EPS beat(2)-7.02%
Max EPS beat(2)5.31%
EPS beat(4)3
Avg EPS beat(4)26.93%
Min EPS beat(4)-7.02%
Max EPS beat(4)70.8%
EPS beat(8)5
Avg EPS beat(8)17.49%
EPS beat(12)8
Avg EPS beat(12)15.03%
EPS beat(16)11
Avg EPS beat(16)24.55%
Revenue beat(2)0
Avg Revenue beat(2)-1.23%
Min Revenue beat(2)-1.32%
Max Revenue beat(2)-1.15%
Revenue beat(4)0
Avg Revenue beat(4)-1.27%
Min Revenue beat(4)-1.34%
Max Revenue beat(4)-1.15%
Revenue beat(8)0
Avg Revenue beat(8)-1%
Revenue beat(12)0
Avg Revenue beat(12)-0.97%
Revenue beat(16)2
Avg Revenue beat(16)-0.69%
PT rev (1m)-1.3%
PT rev (3m)-4.76%
EPS NQ rev (1m)-0.8%
EPS NQ rev (3m)0.25%
EPS NY rev (1m)0.3%
EPS NY rev (3m)1.6%
Revenue NQ rev (1m)-0.24%
Revenue NQ rev (3m)-0.8%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.74 | ||
| Fwd PE | 34.81 | ||
| P/S | 6.96 | ||
| P/FCF | 66.9 | ||
| P/OCF | 14.52 | ||
| P/B | 2.63 | ||
| P/tB | 2.63 | ||
| EV/EBITDA | 16.18 |
EPS(TTM)4.72
EY3.6%
EPS(NY)3.76
Fwd EY2.87%
FCF(TTM)1.96
FCFY1.49%
OCF(TTM)9.02
OCFY6.89%
SpS18.82
BVpS49.87
TBVpS49.87
PEG (NY)N/A
PEG (5Y)3.35
Graham Number72.78
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.63% | ||
| ROE | 9.46% | ||
| ROCE | 5.81% | ||
| ROIC | 4.4% | ||
| ROICexc | 4.41% | ||
| ROICexgc | 4.46% | ||
| OM | 28.33% | ||
| PM (TTM) | 25.06% | ||
| GM | 58.66% | ||
| FCFM | 10.4% |
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%
ROICexgc growth 3Y10.7%
ROICexgc 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-Score4
Asset Turnover0.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.89 | ||
| Debt/FCF | 22.68 | ||
| Debt/EBITDA | 4.2 | ||
| Cap/Depr | 134.59% | ||
| Cap/Sales | 37.51% | ||
| Interest Coverage | 3.27 | ||
| Cash Conversion | 85.25% | ||
| Profit Quality | 41.5% | ||
| Current Ratio | 0.09 | ||
| Quick Ratio | 0.03 | ||
| Altman-Z | 1.57 |
F-Score4
WACC7.35%
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)4.66%
EPS 3Y9.96%
EPS 5Y8.27%
EPS Q2Q%-14.29%
EPS Next Y-4.47%
EPS Next 2Y-9.18%
EPS Next 3Y-1.98%
EPS Next 5Y24.45%
Revenue 1Y (TTM)0.91%
Revenue growth 3Y7.21%
Revenue growth 5Y5.95%
Sales Q2Q%0.59%
Revenue Next Year0.86%
Revenue Next 2Y1.86%
Revenue Next 3Y2.75%
Revenue Next 5Y4.78%
EBIT growth 1Y-7.01%
EBIT growth 3Y12.21%
EBIT growth 5Y8.83%
EBIT Next Year87.13%
EBIT Next 3Y26.86%
EBIT Next 5Y21.48%
FCF growth 1Y-58.73%
FCF growth 3Y-21.89%
FCF growth 5Y-15.48%
OCF growth 1Y-6.04%
OCF growth 3Y7.06%
OCF growth 5Y7.05%
MID-AMERICA APARTMENT COMM / MAA FAQ
What is the ChartMill fundamental rating of MID-AMERICA APARTMENT COMM (MAA) stock?
ChartMill assigns a fundamental rating of 5 / 10 to MAA.
Can you provide the valuation status for MID-AMERICA APARTMENT COMM?
ChartMill assigns a valuation rating of 4 / 10 to MID-AMERICA APARTMENT COMM (MAA). This can be considered as Fairly Valued.
Can you provide the profitability details for MID-AMERICA APARTMENT COMM?
MID-AMERICA APARTMENT COMM (MAA) has a profitability rating of 7 / 10.
What are the PE and PB ratios of MID-AMERICA APARTMENT COMM (MAA) stock?
The Price/Earnings (PE) ratio for MID-AMERICA APARTMENT COMM (MAA) is 27.74 and the Price/Book (PB) ratio is 2.63.
What is the financial health of MID-AMERICA APARTMENT COMM (MAA) stock?
The financial health rating of MID-AMERICA APARTMENT COMM (MAA) is 2 / 10.