MACERICH CO/THE (MAC) Fundamental Analysis & Valuation

NYSE:MAC • US5543821012

Current stock price

21.2 USD
-0.21 (-0.98%)
At close:
21.2 USD
0 (0%)
After Hours:

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

  • MAC's Return On Assets of -2.37% is on the low side compared to the rest of the industry. MAC is outperformed by 74.38% of its industry peers.
  • With a Return On Equity value of -8.08%, MAC is not doing good in the industry: 73.55% of the companies in the same industry are doing better.
  • The Return On Invested Capital of MAC (1.69%) is worse than 69.42% 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 3.11%.
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 has a worse Operating Margin (16.54%) than 62.81% of its industry peers.
  • In the last couple of years the Operating Margin of MAC has grown nicely.
  • The Gross Margin of MAC (54.87%) is worse than 72.73% 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

  • MAC has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, MAC has more shares outstanding
  • The number of shares outstanding for MAC has been increased compared to 5 years ago.
  • Compared to 1 year ago, MAC has a worse debt to assets ratio.
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 0.09. This is a bad value and indicates that MAC is not financially healthy and even has some risk of bankruptcy.
  • MAC's Altman-Z score of 0.09 is on the low side compared to the rest of the industry. MAC is outperformed by 71.90% of its industry peers.
  • MAC has a Debt/Equity ratio of 2.07. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 2.07, MAC is not doing good in the industry: 68.59% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 2.07
Debt/FCF N/A
Altman-Z 0.09
ROIC/WACC0.26
WACC6.46%
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

  • A Current Ratio of 0.83 indicates that MAC may have some problems paying its short term obligations.
  • With a Current ratio value of 0.83, MAC perfoms like the industry average, outperforming 49.59% of the companies in the same 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.
  • The Quick ratio of MAC (0.83) is comparable to the rest of the industry.
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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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%.
  • Looking at the last year, MAC shows a very negative growth in Revenue. The Revenue has decreased by -10.03% in the last year.
  • MAC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.23% yearly.
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 18.01% on average per year.
  • Based on estimates for the next years, MAC will show a small growth in Revenue. The Revenue will grow by 1.86% on average per year.
EPS Next Y82.57%
EPS Next 2Y41.03%
EPS Next 3Y28.95%
EPS Next 5Y18.01%
Revenue Next Year-2.17%
Revenue Next 2Y1.26%
Revenue Next 3Y0.87%
Revenue Next 5Y1.86%

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 decreasing.
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 76.86% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 19.09
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

  • A more expensive valuation may be justified as MAC's earnings are expected to grow with 28.95% in the coming years.
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

  • MAC has a Yearly Dividend Yield of 3.18%.
  • MAC's Dividend Yield is slightly below the industry average, which is at 7.44.
  • Compared to an average S&P500 Dividend Yield of 1.81, MAC pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.18%

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 (4/24/2026, 8:04:00 PM)

After market: 21.2 0 (0%)

21.2

-0.21 (-0.98%)

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 Change0.36%
Ins Owners0.31%
Ins Owner Change0%
Market Cap5.44B
Revenue(TTM)1.01B
Net Income(TTM)-197.92M
Analysts72
Price Target22.05 (4.01%)
Short Float %5.29%
Short Ratio6.2
Dividend
Industry RankSector Rank
Dividend Yield 3.18%
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)18.24%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.98%
Revenue NY rev (1m)-1.13%
Revenue NY rev (3m)-1.18%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 5.37
P/FCF N/A
P/OCF 16.92
P/B 2.22
P/tB 2.4
EV/EBITDA 19.09
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 0.09
F-Score5
WACC6.46%
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 5Y18.01%
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 5Y1.86%
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%.