MACERICH CO/THE (MAC) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:MAC • US5543821012

18.93 USD
+0.25 (+1.34%)
At close: Jan 30, 2026
18.93 USD
0 (0%)
After Hours: 1/30/2026, 8:04:00 PM
Fundamental Rating

1

Taking everything into account, MAC scores 1 out of 10 in our fundamental rating. MAC was compared to 124 industry peers in the Diversified REITs industry. MAC has a bad profitability rating. Also its financial health evaluation is rather negative. MAC is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

  • MAC had negative earnings in the past year.
  • In the past year MAC had a positive cash flow from operations.
  • MAC had negative earnings in 4 of the past 5 years.
  • MAC had a positive operating cash flow in each of the past 5 years.
MAC Yearly Net Income VS EBIT VS OCF VS FCFMAC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M

1.2 Ratios

  • Looking at the Return On Assets, with a value of -4.63%, MAC is doing worse than 80.65% of the companies in the same industry.
  • MAC's Return On Equity of -15.55% is on the low side compared to the rest of the industry. MAC is outperformed by 78.23% of its industry peers.
  • MAC's Return On Invested Capital of 1.79% is on the low side compared to the rest of the industry. MAC is outperformed by 69.35% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for MAC is in line with the industry average of 3.05%.
  • The 3 year average ROIC (1.71%) for MAC is below the current ROIC(1.79%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -4.63%
ROE -15.55%
ROIC 1.79%
ROA(3y)-2.25%
ROA(5y)-1.82%
ROE(3y)-6.88%
ROE(5y)-6.09%
ROIC(3y)1.71%
ROIC(5y)1.43%
MAC Yearly ROA, ROE, ROICMAC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10

1.3 Margins

  • Looking at the Operating Margin, with a value of 17.50%, MAC is in line with its industry, outperforming 41.13% of the companies in the same industry.
  • In the last couple of years the Operating Margin of MAC has declined.
  • The Gross Margin of MAC (54.86%) is worse than 70.97% of its industry peers.
  • MAC's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 17.5%
PM (TTM) N/A
GM 54.86%
OM growth 3Y6.69%
OM growth 5Y-4.17%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.18%
GM growth 5Y-2.5%
MAC Yearly Profit, Operating, Gross MarginsMAC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60

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0

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MAC is destroying value.
  • The number of shares outstanding for MAC has been increased compared to 1 year ago.
  • The number of shares outstanding for MAC has been increased compared to 5 years ago.
  • Compared to 1 year ago, MAC has a worse debt to assets ratio.
MAC Yearly Shares OutstandingMAC Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
MAC Yearly Total Debt VS Total AssetsMAC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

  • Based on the Altman-Z score of 0.06, we must say that MAC is in the distress zone and has some risk of bankruptcy.
  • MAC has a worse Altman-Z score (0.06) than 74.19% of its industry peers.
  • A Debt/Equity ratio of 2.02 is on the high side and indicates that MAC has dependencies on debt financing.
  • MAC has a worse Debt to Equity ratio (2.02) than 69.35% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.02
Debt/FCF N/A
Altman-Z 0.06
ROIC/WACC0.28
WACC6.35%
MAC Yearly LT Debt VS Equity VS FCFMAC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.3 Liquidity

  • A Current Ratio of 0.85 indicates that MAC may have some problems paying its short term obligations.
  • MAC has a Current ratio (0.85) which is comparable to the rest of the industry.
  • MAC has a Quick Ratio of 0.85. This is a bad value and indicates that MAC is not financially healthy enough and could expect problems in meeting its short term obligations.
  • MAC's Quick ratio of 0.85 is in line compared to the rest of the industry. MAC outperforms 48.39% of its industry peers.
Industry RankSector Rank
Current Ratio 0.85
Quick Ratio 0.85
MAC Yearly Current Assets VS Current LiabilitesMAC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

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2

3. Growth

3.1 Past

  • The earnings per share for MAC have decreased strongly by -596.88% in the last year.
  • MAC shows a decrease in Revenue. In the last year, the revenue decreased by -6.05%.
  • The Revenue has been decreasing by -0.20% on average over the past years.
EPS 1Y (TTM)-596.87%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%32%
Revenue 1Y (TTM)-6.05%
Revenue growth 3Y2.71%
Revenue growth 5Y-0.2%
Sales Q2Q%15%

3.2 Future

  • Based on estimates for the next years, MAC will show a quite strong growth in Earnings Per Share. The EPS will grow by 16.72% on average per year.
  • Based on estimates for the next years, MAC will show a small growth in Revenue. The Revenue will grow by 5.17% on average per year.
EPS Next Y37.36%
EPS Next 2Y34.16%
EPS Next 3Y24.95%
EPS Next 5Y16.72%
Revenue Next Year19.6%
Revenue Next 2Y8.81%
Revenue Next 3Y6.14%
Revenue Next 5Y5.17%

3.3 Evolution

  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
MAC Yearly Revenue VS EstimatesMAC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 200M 400M 600M 800M 1B
MAC Yearly EPS VS EstimatesMAC Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 0 1 -1 2 3

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1

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings Ratio is negative for MAC. In the last year negative earnings were reported.
  • Also next year MAC is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
MAC Price Earnings VS Forward Price EarningsMAC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 -50 -100

4.2 Price Multiples

  • MAC's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. MAC is more expensive than 69.35% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.71
MAC Per share dataMAC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

  • MAC's earnings are expected to grow with 24.95% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y34.16%
EPS Next 3Y24.95%

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3

5. Dividend

5.1 Amount

  • MAC has a Yearly Dividend Yield of 3.64%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 6.98, MAC is paying slightly less dividend.
  • MAC's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
Industry RankSector Rank
Dividend Yield 3.64%

5.2 History

  • The dividend of MAC decreases each year by -25.88%.
  • MAC has been paying a dividend for at least 10 years, so it has a reliable track record.
  • MAC has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-25.88%
Div Incr Years0
Div Non Decr Years3
MAC Yearly Dividends per shareMAC Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

  • The earnings of MAC are negative and hence is the payout ratio. MAC will probably not be able to sustain this dividend level.
DP-43.75%
EPS Next 2Y34.16%
EPS Next 3Y24.95%
MAC Yearly Income VS Free CF VS DividendMAC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M

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MACERICH CO/THE / MAC FAQ

What is the fundamental rating for MAC stock?

ChartMill assigns a fundamental rating of 1 / 10 to MAC.


Can you provide the valuation status for MACERICH CO/THE?

ChartMill assigns a valuation rating of 1 / 10 to MACERICH CO/THE (MAC). This can be considered as Overvalued.


How profitable is MACERICH CO/THE (MAC) stock?

MACERICH CO/THE (MAC) has a profitability rating of 2 / 10.


What is the financial health of MACERICH CO/THE (MAC) stock?

The financial health rating of MACERICH CO/THE (MAC) is 0 / 10.