MACERICH CO/THE (MAC) Stock Fundamental Analysis

NYSE:MAC • US5543821012

18.64 USD
-0.2 (-1.06%)
Last: Feb 12, 2026, 10:22 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

1

Overall MAC gets a fundamental rating of 1 out of 10. We evaluated MAC against 122 industry peers in the Diversified REITs industry. Both the profitability and financial health of MAC have multiple concerns. MAC does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

  • In the past year MAC has reported negative net income.
  • In the past year MAC had a positive cash flow from operations.
  • MAC had negative earnings in 4 of the past 5 years.
  • In the past 5 years MAC always reported a positive cash flow from operatings.
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

  • MAC has a Return On Assets of -4.63%. This is amonst the worse of the industry: MAC underperforms 81.15% of its industry peers.
  • MAC's Return On Equity of -15.55% is on the low side compared to the rest of the industry. MAC is outperformed by 77.87% 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 69.67% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for MAC is in line with the industry average of 3.07%.
  • 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 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

  • MAC has a Operating Margin of 17.50%. This is comparable to the rest of the industry: MAC outperforms 40.98% of its industry peers.
  • MAC's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 54.86%, MAC is doing worse than 70.49% of the companies in the same industry.
  • In the last couple of years the Gross Margin of MAC has declined.
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

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), MAC 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.
  • The debt/assets ratio for MAC is higher compared to a year ago.
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 0.05, we must say that MAC is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of 0.05, MAC is not doing good in the industry: 74.59% of the companies in the same industry are doing better.
  • MAC has a Debt/Equity ratio of 2.02. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of MAC (2.02) is worse than 69.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.02
Debt/FCF N/A
Altman-Z 0.05
ROIC/WACC0.28
WACC6.29%
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

  • MAC has a Current 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 has a Current ratio (0.85) which is in line with its industry peers.
  • A Quick Ratio of 0.85 indicates that MAC may have some problems paying its short term obligations.
  • MAC has a Quick ratio (0.85) which is comparable to the rest of the industry.
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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

2

3. Growth

3.1 Past

  • The earnings per share for MAC have decreased strongly by -596.88% in the last year.
  • The Revenue has decreased by -6.05% in the past year.
  • 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

  • MAC is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 16.25% yearly.
  • The Revenue is expected to grow by 4.89% on average over the next years.
EPS Next Y31.55%
EPS Next 2Y33.76%
EPS Next 3Y24.42%
EPS Next 5Y16.25%
Revenue Next Year19.6%
Revenue Next 2Y8.81%
Revenue Next 3Y6.14%
Revenue Next 5Y4.89%

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

  • MAC reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • 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 70.49% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.66
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 24.42% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y33.76%
EPS Next 3Y24.42%

More info and screens

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

3

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 3.51%, MAC has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 6.80, MAC is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.80, MAC pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.51%

5.2 History

  • The dividend of MAC decreases each year by -25.88%.
  • 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)-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

  • MAC has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-43.75%
EPS Next 2Y33.76%
EPS Next 3Y24.42%
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

NYSE:MAC (2/12/2026, 10:22:08 AM)

18.64

-0.2 (-1.06%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)11-04
Earnings (Next)02-18
Inst Owners103.36%
Inst Owner Change-1.19%
Ins Owners0.31%
Ins Owner Change-0.06%
Market Cap4.77B
Revenue(TTM)1.03B
Net Income(TTM)-390.44M
Analysts70
Price Target20.33 (9.07%)
Short Float %6.11%
Short Ratio8.91
Dividend
Industry RankSector Rank
Dividend Yield 3.51%
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)2.2%
PT rev (3m)1.6%
EPS NQ rev (1m)-8.56%
EPS NQ rev (3m)-31.41%
EPS NY rev (1m)-19.33%
EPS NY rev (3m)-45.15%
Revenue NQ rev (1m)-3.24%
Revenue NQ rev (3m)-3.54%
Revenue NY rev (1m)-1.5%
Revenue NY rev (3m)-1.5%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 4.65
P/FCF N/A
P/OCF 14.63
P/B 1.9
P/tB 2.06
EV/EBITDA 17.66
EPS(TTM)-1.59
EYN/A
EPS(NY)-0.17
Fwd EYN/A
FCF(TTM)-0.47
FCFYN/A
OCF(TTM)1.27
OCFY6.83%
SpS4.01
BVpS9.8
TBVpS9.03
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector 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 RankSector 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 0.05
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 Y31.55%
EPS Next 2Y33.76%
EPS Next 3Y24.42%
EPS Next 5Y16.25%
Revenue 1Y (TTM)-6.05%
Revenue growth 3Y2.71%
Revenue growth 5Y-0.2%
Sales Q2Q%15%
Revenue Next Year19.6%
Revenue Next 2Y8.81%
Revenue Next 3Y6.14%
Revenue Next 5Y4.89%
EBIT growth 1Y-8%
EBIT growth 3Y9.58%
EBIT growth 5Y-4.36%
EBIT Next Year222.29%
EBIT Next 3Y48.88%
EBIT Next 5Y20.9%
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.