MID-AMERICA APARTMENT COMM (MAA) Stock Fundamental Analysis
USA - NYSE:MAA - US59522J1034 - REIT
128.23 USD
-0.58 (-0.45%)
128.23 USD
0 (0%)
Taking everything into account, MAA scores 5 out of 10 in our fundamental rating. MAA was compared to 20 industry peers in the Residential REITs industry. MAA has an excellent profitability rating, but there are concerns on its financial health. MAA has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year MAA was profitable.
MAA had a positive operating cash flow in the past year.
MAA had positive earnings in each of the past 5 years.
Each year in the past 5 years MAA had a positive operating cash flow.
1.2 Ratios
MAA has a Return On Assets of 4.63%. This is in the better half of the industry: MAA outperforms 75.00% of its industry peers.
MAA has a Return On Equity of 9.46%. This is in the better half of the industry: MAA outperforms 80.00% 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.
Measured over the past 3 years, the Average Return On Invested Capital for MAA 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
With a decent Profit Margin value of 25.06%, MAA is doing good in the industry, outperforming 80.00% of the companies in the same industry.
MAA's Profit Margin has improved in the last couple of years.
MAA has a better Operating Margin (28.33%) than 85.00% of its industry peers.
In the last couple of years the Operating Margin of MAA has grown nicely.
The Gross Margin of MAA (58.66%) is comparable to the rest of the industry.
In the last couple of years the Gross Margin of MAA has remained more or less at the same level.
| 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), MAA is destroying value.
The number of shares outstanding for MAA has been reduced compared to 1 year ago.
The number of shares outstanding for MAA has been increased compared to 5 years ago.
MAA has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.54, we must say that MAA is in the distress zone and has some risk of bankruptcy.
With a decent Altman-Z score value of 1.54, 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.
With a decent Debt to FCF ratio value of 22.68, MAA is doing good in the industry, outperforming 70.00% of the companies in the same industry.
MAA has a Debt/Equity ratio of 0.89. This is a neutral value indicating MAA is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.89, MAA perfoms like the industry average, outperforming 55.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.89 | ||
| Debt/FCF | 22.68 | ||
| Altman-Z | 1.54 |
ROIC/WACC0.6
WACC7.3%
2.3 Liquidity
MAA has a Current Ratio of 0.09. This is a bad value and indicates that MAA is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of MAA (0.09) is worse than 80.00% of its industry peers.
MAA has a Quick Ratio of 0.09. This is a bad value and indicates that MAA is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.03, MAA is not doing good in the industry: 90.00% of the companies in the same industry are doing better.
| 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%.
MAA shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.27% yearly.
Looking at the last year, MAA shows a small growth in Revenue. The Revenue has grown by 0.91% in the last 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
The Revenue is expected to grow by 4.78% on average over the next years.
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
Based on the Price/Earnings ratio of 27.17, the valuation of MAA can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of MAA indicates a somewhat cheap valuation: MAA is cheaper than 75.00% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.11, MAA is valued at the same level.
With a Price/Forward Earnings ratio of 34.09, MAA can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, MAA is valued cheaper than 85.00% of the companies in the same industry.
MAA's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.55.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.17 | ||
| Fwd PE | 34.09 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, MAA is valued cheaply inside the industry as 90.00% of the companies are valued more expensively.
MAA's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 65.52 | ||
| EV/EBITDA | 15.92 |
4.3 Compensation for Growth
MAA has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)3.29
EPS Next 2Y-9.18%
EPS Next 3Y-1.98%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.73%, MAA is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 7.40, MAA has a dividend in line with its industry peers.
MAA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.37.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.73% |
5.2 History
On average, the dividend of MAA grows each year by 8.76%, which is quite nice.
MAA has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)8.76%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
128.07% of the earnings are spent on dividend by MAA. This is not a sustainable payout ratio.
MAA's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP128.07%
EPS Next 2Y-9.18%
EPS Next 3Y-1.98%
128.23
-0.58 (-0.45%)
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-0.37%
Ins Owners0.56%
Ins Owner Change0.23%
Market Cap15.01B
Revenue(TTM)2.20B
Net Income(TTM)552.18M
Analysts70.97
Price Target159.57 (24.44%)
Short Float %3.38%
Short Ratio5.02
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.73% |
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)-1.69%
PT rev (3m)-6.58%
EPS NQ rev (1m)0.36%
EPS NQ rev (3m)1.21%
EPS NY rev (1m)0.3%
EPS NY rev (3m)1.6%
Revenue NQ rev (1m)-0.04%
Revenue NQ rev (3m)-0.57%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.17 | ||
| Fwd PE | 34.09 | ||
| P/S | 6.81 | ||
| P/FCF | 65.52 | ||
| P/OCF | 14.22 | ||
| P/B | 2.57 | ||
| P/tB | 2.57 | ||
| EV/EBITDA | 15.92 |
EPS(TTM)4.72
EY3.68%
EPS(NY)3.76
Fwd EY2.93%
FCF(TTM)1.96
FCFY1.53%
OCF(TTM)9.02
OCFY7.03%
SpS18.82
BVpS49.87
TBVpS49.87
PEG (NY)N/A
PEG (5Y)3.29
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 | 1.54 |
F-Score4
WACC7.3%
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 27.17 and the Price/Book (PB) ratio is 2.57.
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.