MACERICH CO/THE (MAC) Fundamental Analysis & Valuation

NYSE:MAC • US5543821012

Current stock price

21.21 USD
-0.4 (-1.85%)
At close:
21.21 USD
0 (0%)
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This MAC fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

2

1. MAC Profitability Analysis

1.1 Basic Checks

  • In the past year MAC has reported negative net income.
  • MAC had a positive operating cash flow in the past year.
  • 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 2025 0 200M -200M 400M

1.2 Ratios

  • The Return On Assets of MAC (-2.37%) is worse than 74.59% of its industry peers.
  • Looking at the Return On Equity, with a value of -8.08%, MAC is doing worse than 72.95% of the companies in the same industry.
  • MAC's Return On Invested Capital of 1.69% is on the low side compared to the rest of the industry. MAC is outperformed by 69.67% 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 3.12%.
Industry RankSector Rank
ROA -2.37%
ROE -8.08%
ROIC 1.69%
ROA(3y)-2.77%
ROA(5y)-1.79%
ROE(3y)-8.8%
ROE(5y)-5.66%
ROIC(3y)1.76%
ROIC(5y)1.61%
MAC Yearly ROA, ROE, ROICMAC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 -5 10 -10

1.3 Margins

  • MAC's Operating Margin of 16.54% is on the low side compared to the rest of the industry. MAC is outperformed by 62.30% of its industry peers.
  • MAC's Operating Margin has improved in the last couple of years.
  • MAC has a Gross Margin of 54.87%. This is in the lower half of the industry: MAC underperforms 72.95% of its industry peers.
  • In the last couple of years the Gross Margin of MAC has remained more or less at the same level.
Industry RankSector Rank
OM 16.54%
PM (TTM) N/A
GM 54.87%
OM growth 3Y-1.78%
OM growth 5Y8.07%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.19%
GM growth 5Y-0.31%
MAC Yearly Profit, Operating, Gross MarginsMAC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 60

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0

2. MAC Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MAC is destroying value.
  • Compared to 1 year ago, MAC has more shares outstanding
  • MAC has more shares outstanding than it did 5 years ago.
  • MAC has a worse debt/assets ratio than last year.
MAC Yearly Shares OutstandingMAC Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 2B 4B 6B 8B

2.2 Solvency

  • MAC has an Altman-Z score of 0.11. 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 (0.11) than 71.31% of its industry peers.
  • A Debt/Equity ratio of 2.07 is on the high side and indicates that MAC has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 2.07, MAC is doing worse than 68.03% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 2.07
Debt/FCF N/A
Altman-Z 0.11
ROIC/WACC0.26
WACC6.43%
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 2025 0 2B 4B 6B

2.3 Liquidity

  • MAC has a Current Ratio of 0.83. This is a bad value and indicates that MAC is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of MAC (0.83) is comparable to the rest of the industry.
  • MAC has a Quick Ratio of 0.83. 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 has a Quick ratio (0.83) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 0.83
Quick Ratio 0.83
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 2025 200M 400M 600M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

2

3. MAC Growth Analysis

3.1 Past

  • MAC shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.10%.
  • The Revenue for MAC has decreased by -10.03% in the past year. This is quite bad
  • Measured over the past years, MAC shows a small growth in Revenue. The Revenue has been growing by 5.23% on average per year.
EPS 1Y (TTM)6.1%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%92.13%
Revenue 1Y (TTM)-10.03%
Revenue growth 3Y5.68%
Revenue growth 5Y5.23%
Sales Q2Q%-4.37%

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 16.34% on average per year.
  • MAC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.05% yearly.
EPS Next Y82.57%
EPS Next 2Y41.03%
EPS Next 3Y28.95%
EPS Next 5Y16.34%
Revenue Next Year-2.17%
Revenue Next 2Y1.26%
Revenue Next 3Y0.87%
Revenue Next 5Y2.05%

3.3 Evolution

  • The Revenue growth rate is decreasing: in the next years the growth will be less 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. MAC Valuation Analysis

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 -150

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 77.87% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 19.29
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 28.95% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y41.03%
EPS Next 3Y28.95%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. MAC Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 3.10%, MAC has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 7.46, MAC is paying slightly less dividend.
  • MAC's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 3.1%

5.2 History

  • The dividend of MAC decreases each year by -9.22%.
  • MAC has paid a dividend for at least 10 years, which is a reliable track record.
  • MAC has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-9.22%
Div Incr Years0
Div Non Decr Years4
MAC Yearly Dividends per shareMAC Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 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-87.85%
EPS Next 2Y41.03%
EPS Next 3Y28.95%
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 2025 0 200M -200M 400M 600M

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MAC Fundamentals: All Metrics, Ratios and Statistics

MACERICH CO/THE

NYSE:MAC (4/22/2026, 8:04:00 PM)

After market: 21.21 0 (0%)

21.21

-0.4 (-1.85%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-18
Earnings (Next)05-06
Inst Owners107.16%
Inst Owner Change0.07%
Ins Owners0.31%
Ins Owner Change0%
Market Cap5.44B
Revenue(TTM)1.01B
Net Income(TTM)-197.92M
Analysts72
Price Target22.05 (3.96%)
Short Float %5.29%
Short Ratio6.2
Dividend
Industry RankSector Rank
Dividend Yield 3.1%
Yearly Dividend0.68
Dividend Growth(5Y)-9.22%
DP-87.85%
Div Incr Years0
Div Non Decr Years4
Ex-Date03-16
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-361.99%
Min EPS beat(2)-403.18%
Max EPS beat(2)-320.79%
EPS beat(4)0
Avg EPS beat(4)-241.51%
Min EPS beat(4)-403.18%
Max EPS beat(4)-94.54%
EPS beat(8)1
Avg EPS beat(8)-272.7%
EPS beat(12)3
Avg EPS beat(12)-376.24%
EPS beat(16)3
Avg EPS beat(16)-326.12%
Revenue beat(2)1
Avg Revenue beat(2)-0.74%
Min Revenue beat(2)-2%
Max Revenue beat(2)0.51%
Revenue beat(4)3
Avg Revenue beat(4)3.38%
Min Revenue beat(4)-2%
Max Revenue beat(4)12.16%
Revenue beat(8)6
Avg Revenue beat(8)5.52%
Revenue beat(12)10
Avg Revenue beat(12)4.68%
Revenue beat(16)12
Avg Revenue beat(16)3.67%
PT rev (1m)4.25%
PT rev (3m)9.64%
EPS NQ rev (1m)-5.8%
EPS NQ rev (3m)-13.36%
EPS NY rev (1m)-2.2%
EPS NY rev (3m)7.58%
Revenue NQ rev (1m)-0.38%
Revenue NQ rev (3m)-1.6%
Revenue NY rev (1m)-1.13%
Revenue NY rev (3m)-3.25%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 5.37
P/FCF N/A
P/OCF 16.93
P/B 2.22
P/tB 2.4
EV/EBITDA 19.29
EPS(TTM)-0.77
EYN/A
EPS(NY)-0.13
Fwd EYN/A
FCF(TTM)-0.05
FCFYN/A
OCF(TTM)1.25
OCFY5.91%
SpS3.95
BVpS9.54
TBVpS8.84
PEG (NY)N/A
PEG (5Y)N/A
Graham Number0 (-100%)
Profitability
Industry RankSector Rank
ROA -2.37%
ROE -8.08%
ROCE 2.14%
ROIC 1.69%
ROICexc 1.75%
ROICexgc 1.83%
OM 16.54%
PM (TTM) N/A
GM 54.87%
FCFM N/A
ROA(3y)-2.77%
ROA(5y)-1.79%
ROE(3y)-8.8%
ROE(5y)-5.66%
ROIC(3y)1.76%
ROIC(5y)1.61%
ROICexc(3y)1.79%
ROICexc(5y)1.64%
ROICexgc(3y)1.87%
ROICexgc(5y)1.7%
ROCE(3y)2.23%
ROCE(5y)2.04%
ROICexgc growth 3Y4.29%
ROICexgc growth 5Y16.17%
ROICexc growth 3Y3.86%
ROICexc growth 5Y15.96%
OM growth 3Y-1.78%
OM growth 5Y8.07%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.19%
GM growth 5Y-0.31%
F-Score5
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 2.07
Debt/FCF N/A
Debt/EBITDA 9.46
Cap/Depr 90.56%
Cap/Sales 32.87%
Interest Coverage 0.81
Cash Conversion 60.02%
Profit Quality N/A
Current Ratio 0.83
Quick Ratio 0.83
Altman-Z 0.11
F-Score5
WACC6.43%
ROIC/WACC0.26
Cap/Depr(3y)68.79%
Cap/Depr(5y)48.26%
Cap/Sales(3y)23.85%
Cap/Sales(5y)16.83%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)6.1%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%92.13%
EPS Next Y82.57%
EPS Next 2Y41.03%
EPS Next 3Y28.95%
EPS Next 5Y16.34%
Revenue 1Y (TTM)-10.03%
Revenue growth 3Y5.68%
Revenue growth 5Y5.23%
Sales Q2Q%-4.37%
Revenue Next Year-2.17%
Revenue Next 2Y1.26%
Revenue Next 3Y0.87%
Revenue Next 5Y2.05%
EBIT growth 1Y-13.48%
EBIT growth 3Y3.8%
EBIT growth 5Y13.72%
EBIT Next Year241.34%
EBIT Next 3Y50.95%
EBIT Next 5Y26.41%
FCF growth 1Y-121.62%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y13.46%
OCF growth 3Y-1.6%
OCF growth 5Y20.84%

MACERICH CO/THE / MAC Fundamental Analysis 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.


Can you provide the profitability details for MACERICH CO/THE?

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


What is the earnings growth outlook for MACERICH CO/THE?

The Earnings per Share (EPS) of MACERICH CO/THE (MAC) is expected to grow by 82.57% in the next year.


Is the dividend of MACERICH CO/THE sustainable?

The dividend rating of MACERICH CO/THE (MAC) is 3 / 10 and the dividend payout ratio is -87.85%.