MID-AMERICA APARTMENT COMM (MAA) Stock Fundamental Analysis
NYSE:MAA - New York Stock Exchange, Inc. - US59522J1034 - REIT - Currency: USD
MAA gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 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 correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
MAA had positive earnings in the past year.
MAA had a positive operating cash flow in the past year.
MAA had positive earnings in each of the past 5 years.
MAA had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
MAA's Return On Assets of 4.76% is fine compared to the rest of the industry. MAA outperforms 80.00% of its industry peers.
MAA has a Return On Equity of 9.40%. This is amongst the best in the industry. MAA outperforms 85.00% of its industry peers.
MAA has a Return On Invested Capital of 4.59%. This is amongst the best in 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 2.62%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.76% | ||
| ROE | 9.4% | ||
| ROIC | 4.59% |
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
MAA has a Profit Margin of 25.57%. This is amongst the best in the industry. MAA outperforms 85.00% of its industry peers.
MAA's Profit Margin has improved in the last couple of years.
The Operating Margin of MAA (29.61%) is better than 85.00% of its industry peers.
MAA's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 59.20%, MAA is in line with its industry, outperforming 60.00% of the companies in the same 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 | 29.61% | ||
| PM (TTM) | 25.57% | ||
| GM | 59.2% |
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.
Compared to 1 year ago, MAA has less shares outstanding
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
MAA has an Altman-Z score of 1.93. This is not the best score and indicates that MAA is in the grey zone with still only limited risk for bankruptcy at the moment.
With an excellent Altman-Z score value of 1.93, MAA belongs to the best of the industry, outperforming 90.00% of the companies in the same industry.
MAA has a debt to FCF ratio of 43.43. This is a negative value and a sign of low solvency as MAA would need 43.43 years to pay back of all of its debts.
MAA has a Debt to FCF ratio (43.43) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.84 indicates that MAA is somewhat dependend on debt financing.
MAA has a Debt to Equity ratio of 0.84. This is comparable to the rest of the industry: MAA outperforms 60.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | 43.43 | ||
| Altman-Z | 1.93 |
ROIC/WACC0.59
WACC7.73%
2.3 Liquidity
MAA has a Current Ratio of 0.14. This is a bad value and indicates that MAA is not financially healthy enough and could expect problems in meeting its short term obligations.
MAA has a worse Current ratio (0.14) than 70.00% of its industry peers.
MAA has a Quick Ratio of 0.14. 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 Quick ratio of MAA (0.06) is worse than 80.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.14 | ||
| Quick Ratio | 0.06 |
3. Growth
3.1 Past
MAA shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 2.31%.
MAA shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.27% yearly.
MAA shows a small growth in Revenue. In the last year, the Revenue has grown by 1.56%.
Measured over the past years, MAA shows a small growth in Revenue. The Revenue has been growing by 5.95% on average per year.
EPS 1Y (TTM)2.31%
EPS 3Y9.96%
EPS 5Y8.27%
EPS Q2Q%26.23%
Revenue 1Y (TTM)1.56%
Revenue growth 3Y7.21%
Revenue growth 5Y5.95%
Sales Q2Q%1.04%
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
MAA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.28% yearly.
EPS Next Y-5.98%
EPS Next 2Y-8.32%
EPS Next 3Y-0.83%
EPS Next 5Y24.45%
Revenue Next Year1.31%
Revenue Next 2Y2.61%
Revenue Next 3Y3.5%
Revenue Next 5Y5.28%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 30.36, MAA can be considered very expensive at the moment.
Based on the Price/Earnings ratio, MAA is valued cheaply inside the industry as 90.00% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 27.51, MAA is valued at the same level.
With a Price/Forward Earnings ratio of 38.66, MAA can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, MAA is valued a bit cheaper than 80.00% of the companies in the same industry.
MAA's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 35.58.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.36 | ||
| Fwd PE | 38.66 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MAA indicates a somewhat cheap valuation: MAA is cheaper than 75.00% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of MAA is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 149.38 | ||
| EV/EBITDA | 17.96 |
4.3 Compensation for Growth
The excellent profitability rating of MAA may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)3.67
EPS Next 2Y-8.32%
EPS Next 3Y-0.83%
5. Dividend
5.1 Amount
MAA has a Yearly Dividend Yield of 4.01%, which is a nice return.
Compared to an average industry Dividend Yield of 4.70, MAA has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.35, MAA pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.01% |
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
123.94% 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.
DP123.94%
EPS Next 2Y-8.32%
EPS Next 3Y-0.83%
NYSE:MAA (7/15/2025, 3:22:10 PM)
148.15
-1.59 (-1.06%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners100.32%
Inst Owner Change0%
Ins Owners0.56%
Ins Owner Change1.2%
Market Cap17.34B
Analysts72.9
Price Target173.64 (17.21%)
Short Float %3.6%
Short Ratio4.37
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.01% |
Yearly Dividend5.89
Dividend Growth(5Y)8.76%
DP123.94%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)54.71%
Min EPS beat(2)38.63%
Max EPS beat(2)70.8%
EPS beat(4)2
Avg EPS beat(4)24.46%
Min EPS beat(4)-7.55%
Max EPS beat(4)70.8%
EPS beat(8)5
Avg EPS beat(8)17.04%
EPS beat(12)8
Avg EPS beat(12)22.4%
EPS beat(16)12
Avg EPS beat(16)26.59%
Revenue beat(2)0
Avg Revenue beat(2)-1.3%
Min Revenue beat(2)-1.34%
Max Revenue beat(2)-1.27%
Revenue beat(4)0
Avg Revenue beat(4)-1%
Min Revenue beat(4)-1.34%
Max Revenue beat(4)-0.58%
Revenue beat(8)0
Avg Revenue beat(8)-0.87%
Revenue beat(12)2
Avg Revenue beat(12)-0.63%
Revenue beat(16)4
Avg Revenue beat(16)-0.45%
PT rev (1m)-0.32%
PT rev (3m)0.73%
EPS NQ rev (1m)-2.18%
EPS NQ rev (3m)-14.54%
EPS NY rev (1m)3.24%
EPS NY rev (3m)4.69%
Revenue NQ rev (1m)-0.05%
Revenue NQ rev (3m)-0.71%
Revenue NY rev (1m)-0.04%
Revenue NY rev (3m)-0.31%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.36 | ||
| Fwd PE | 38.66 | ||
| P/S | 7.89 | ||
| P/FCF | 149.38 | ||
| P/OCF | 15.84 | ||
| P/B | 2.9 | ||
| P/tB | 2.9 | ||
| EV/EBITDA | 17.96 |
EPS(TTM)4.88
EY3.29%
EPS(NY)3.83
Fwd EY2.59%
FCF(TTM)0.99
FCFY0.67%
OCF(TTM)9.35
OCFY6.31%
SpS18.77
BVpS51.03
TBVpS51.03
PEG (NY)N/A
PEG (5Y)3.67
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.76% | ||
| ROE | 9.4% | ||
| ROCE | 5.97% | ||
| ROIC | 4.59% | ||
| ROICexc | 4.61% | ||
| ROICexgc | 4.66% | ||
| OM | 29.61% | ||
| PM (TTM) | 25.57% | ||
| GM | 59.2% | ||
| FCFM | 5.29% |
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%
ROICexcg growth 3Y10.7%
ROICexcg 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-Score3
Asset Turnover0.19
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | 43.43 | ||
| Debt/EBITDA | 4.05 | ||
| Cap/Depr | 164.28% | ||
| Cap/Sales | 44.55% | ||
| Interest Coverage | 3.53 | ||
| Cash Conversion | 87.85% | ||
| Profit Quality | 20.67% | ||
| Current Ratio | 0.14 | ||
| Quick Ratio | 0.06 | ||
| Altman-Z | 1.93 |
F-Score3
WACC7.73%
ROIC/WACC0.59
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)2.31%
EPS 3Y9.96%
EPS 5Y8.27%
EPS Q2Q%26.23%
EPS Next Y-5.98%
EPS Next 2Y-8.32%
EPS Next 3Y-0.83%
EPS Next 5Y24.45%
Revenue 1Y (TTM)1.56%
Revenue growth 3Y7.21%
Revenue growth 5Y5.95%
Sales Q2Q%1.04%
Revenue Next Year1.31%
Revenue Next 2Y2.61%
Revenue Next 3Y3.5%
Revenue Next 5Y5.28%
EBIT growth 1Y-4.47%
EBIT growth 3Y12.21%
EBIT growth 5Y8.83%
EBIT Next Year88.31%
EBIT Next 3Y27.95%
EBIT Next 5Y22.18%
FCF growth 1Y-61.66%
FCF growth 3Y-21.89%
FCF growth 5Y-15.48%
OCF growth 1Y-0.23%
OCF growth 3Y7.06%
OCF growth 5Y7.05%