MACERICH CO/THE (MAC) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:MAC - US5543821012 - REIT
18.16 USD
+0.04 (+0.22%)
18.16 USD
0 (0%)
We assign a fundamental rating of 1 out of 10 to MAC. MAC was compared to 126 industry peers in the Diversified REITs industry. MAC may be in some trouble as it scores bad on both profitability and health. MAC is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
MAC had negative earnings in the past year.
MAC had a positive operating cash flow in the past year.
In the past 5 years MAC reported 4 times negative net income.
Each year in the past 5 years MAC had a positive operating cash flow.
1.2 Ratios
With a Return On Assets value of -4.63%, MAC is not doing good in the industry: 80.16% of the companies in the same industry are doing better.
MAC has a Return On Equity of -15.55%. This is in the lower half of the industry: MAC underperforms 77.78% of its industry peers.
Looking at the Return On Invested Capital, with a value of 1.79%, MAC is doing worse than 69.84% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for MAC is in line with the industry average of 3.06%.
The last Return On Invested Capital (1.79%) for MAC is above the 3 year average (1.71%), which is a sign of increasing profitability.
| Industry Rank | Sector 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%
1.3 Margins
Looking at the Operating Margin, with a value of 17.50%, MAC is in line with its industry, outperforming 41.27% of the companies in the same industry.
MAC's Operating Margin has declined in the last couple of years.
The Gross Margin of MAC (54.86%) is worse than 71.43% of its industry peers.
In the last couple of years the Gross Margin of MAC has declined.
| Industry Rank | Sector 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%
2. Health
2.1 Basic Checks
MAC has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
MAC has more shares outstanding than it did 1 year ago.
MAC has more shares outstanding than it did 5 years ago.
MAC has a worse debt/assets ratio than last year.
2.2 Solvency
MAC has an Altman-Z score of 0.03. This is a bad value and indicates that MAC is not financially healthy and even has some risk of bankruptcy.
MAC has a worse Altman-Z score (0.03) than 73.02% 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 69.05% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.02 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.03 |
ROIC/WACC0.28
WACC6.29%
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.
A Quick Ratio of 0.85 indicates that MAC may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.85, MAC is in line with its industry, outperforming 47.62% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.85 | ||
| Quick Ratio | 0.85 |
3. Growth
3.1 Past
MAC shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -596.88%.
Looking at the last year, MAC shows a decrease in Revenue. The Revenue has decreased by -6.05% in the last year.
Measured over the past years, MAC shows a decrease in Revenue. The Revenue has been decreasing by -0.20% on average per year.
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.
MAC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.17% yearly.
EPS Next Y42.64%
EPS Next 2Y35.02%
EPS Next 3Y24.95%
EPS Next 5Y16.72%
Revenue Next Year21.42%
Revenue Next 2Y10.74%
Revenue Next 3Y7.42%
Revenue Next 5Y5.17%
3.3 Evolution
When comparing the Revenue 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
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
69.05% of the companies in the same industry are cheaper than MAC, based on the Enterprise Value to EBITDA ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 17.33 |
4.3 Compensation for Growth
A more expensive valuation may be justified as MAC's earnings are expected to grow with 24.95% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y35.02%
EPS Next 3Y24.95%
5. Dividend
5.1 Amount
MAC has a Yearly Dividend Yield of 3.69%.
Compared to an average industry Dividend Yield of 6.86, MAC is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 1.92, MAC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.69% |
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
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 2Y35.02%
EPS Next 3Y24.95%
18.16
+0.04 (+0.22%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners103.36%
Inst Owner Change-0.05%
Ins Owners0.31%
Ins Owner Change-0.06%
Market Cap4.65B
Revenue(TTM)1.03B
Net Income(TTM)-390.44M
Analysts70
Price Target19.89 (9.53%)
Short Float %6.16%
Short Ratio8.86
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.69% |
Yearly Dividend0.64
Dividend Growth(5Y)-25.88%
DP-43.75%
Div Incr Years0
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-207.67%
Min EPS beat(2)-320.79%
Max EPS beat(2)-94.54%
EPS beat(4)0
Avg EPS beat(4)-629.5%
Min EPS beat(4)-1955.13%
Max EPS beat(4)-94.54%
EPS beat(8)2
Avg EPS beat(8)-194.09%
EPS beat(12)3
Avg EPS beat(12)-347.67%
EPS beat(16)3
Avg EPS beat(16)-307.05%
Revenue beat(2)2
Avg Revenue beat(2)1.68%
Min Revenue beat(2)0.51%
Max Revenue beat(2)2.85%
Revenue beat(4)4
Avg Revenue beat(4)9.55%
Min Revenue beat(4)0.51%
Max Revenue beat(4)22.66%
Revenue beat(8)7
Avg Revenue beat(8)6.43%
Revenue beat(12)10
Avg Revenue beat(12)4.74%
Revenue beat(16)13
Avg Revenue beat(16)4.29%
PT rev (1m)-0.36%
PT rev (3m)0.6%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-24.99%
EPS NY rev (1m)0%
EPS NY rev (3m)-20.96%
Revenue NQ rev (1m)-0.27%
Revenue NQ rev (3m)0.05%
Revenue NY rev (1m)-0.1%
Revenue NY rev (3m)0.1%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 4.53 | ||
| P/FCF | N/A | ||
| P/OCF | 14.26 | ||
| P/B | 1.85 | ||
| P/tB | 2.01 | ||
| EV/EBITDA | 17.33 |
EPS(TTM)-1.59
EYN/A
EPS(NY)-0.15
Fwd EYN/A
FCF(TTM)-0.47
FCFYN/A
OCF(TTM)1.27
OCFY7.01%
SpS4.01
BVpS9.8
TBVpS9.03
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -4.63% | ||
| ROE | -15.55% | ||
| ROCE | 2.27% | ||
| ROIC | 1.79% | ||
| ROICexc | 1.86% | ||
| ROICexgc | 1.94% | ||
| OM | 17.5% | ||
| PM (TTM) | N/A | ||
| GM | 54.86% | ||
| FCFM | N/A |
ROA(3y)-2.25%
ROA(5y)-1.82%
ROE(3y)-6.88%
ROE(5y)-6.09%
ROIC(3y)1.71%
ROIC(5y)1.43%
ROICexc(3y)1.73%
ROICexc(5y)1.46%
ROICexgc(3y)1.79%
ROICexgc(5y)1.51%
ROCE(3y)2.16%
ROCE(5y)1.81%
ROICexgc growth 3Y9.63%
ROICexgc growth 5Y-3.26%
ROICexc growth 3Y9.11%
ROICexc growth 5Y-3.53%
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%
F-Score4
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.02 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 9.33 | ||
| Cap/Depr | 122.66% | ||
| Cap/Sales | 43.58% | ||
| Interest Coverage | 0.87 | ||
| Cash Conversion | 59.96% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.85 | ||
| Quick Ratio | 0.85 | ||
| Altman-Z | 0.03 |
F-Score4
WACC6.29%
ROIC/WACC0.28
Cap/Depr(3y)47.12%
Cap/Depr(5y)31.57%
Cap/Sales(3y)15.89%
Cap/Sales(5y)10.84%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-596.87%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%32%
EPS Next Y42.64%
EPS Next 2Y35.02%
EPS Next 3Y24.95%
EPS Next 5Y16.72%
Revenue 1Y (TTM)-6.05%
Revenue growth 3Y2.71%
Revenue growth 5Y-0.2%
Sales Q2Q%15%
Revenue Next Year21.42%
Revenue Next 2Y10.74%
Revenue Next 3Y7.42%
Revenue Next 5Y5.17%
EBIT growth 1Y-8%
EBIT growth 3Y9.58%
EBIT growth 5Y-4.36%
EBIT Next Year209.54%
EBIT Next 3Y49.32%
EBIT Next 5Y27.61%
FCF growth 1Y-165.99%
FCF growth 3Y-40.36%
FCF growth 5Y-30.47%
OCF growth 1Y9.27%
OCF growth 3Y-0.35%
OCF growth 5Y-4.41%
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.