MACERICH CO/THE (MAC) Stock Fundamental Analysis
USA - NYSE:MAC - US5543821012 - REIT
17.21 USD
-0.06 (-0.35%)
17.21 USD
0 (0%)
MAC gets a fundamental rating of 1 out of 10. The analysis compared the fundamentals against 128 industry peers in the Diversified REITs industry. Both the profitability and financial health of MAC have multiple concerns. MAC has a expensive valuation and it also scores bad on growth.
1. Profitability
1.1 Basic Checks
MAC had negative earnings in the past year.
MAC had a positive operating cash flow in the past year.
In the past 5 years MAC reported 4 times negative net income.
MAC had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a Return On Assets value of -4.63%, MAC is not doing good in the industry: 81.25% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of -15.55%, MAC is doing worse than 78.91% of the companies in the same industry.
The Return On Invested Capital of MAC (1.79%) is worse than 69.53% 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 3.04%.
The 3 year average ROIC (1.71%) for MAC is below the current ROIC(1.79%), indicating increased profibility in the last year.
| Industry Rank | Sector 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%
1.3 Margins
Looking at the Operating Margin, with a value of 17.50%, MAC is doing worse than 60.16% of the companies in the same industry.
In the last couple of years the Operating Margin of MAC has declined.
With a Gross Margin value of 54.86%, MAC is not doing good in the industry: 72.66% of the companies in the same industry are doing better.
MAC's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector 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%
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.
2.2 Solvency
MAC has an Altman-Z score of 0.01. 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 0.01 is on the low side compared to the rest of the industry. MAC is outperformed by 73.44% of its industry peers.
MAC has a Debt/Equity ratio of 2.02. This is a high value indicating a heavy dependency on external financing.
MAC's Debt to Equity ratio of 2.02 is on the low side compared to the rest of the industry. MAC is outperformed by 70.31% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.02 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.01 |
ROIC/WACC0.29
WACC6.21%
2.3 Liquidity
A Current Ratio of 0.85 indicates that MAC may have some problems paying its short term obligations.
MAC's Current ratio of 0.85 is in line compared to the rest of the industry. MAC outperforms 46.88% of its industry peers.
MAC has a Quick 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.
The Quick ratio of MAC (0.85) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.85 | ||
| Quick Ratio | 0.85 |
3. Growth
3.1 Past
MAC shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -596.88%.
The Revenue has decreased by -6.05% in the past year.
Measured over the past years, MAC shows a decrease in Revenue. The Revenue has been decreasing by -0.20% on average per year.
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
Based on estimates for the next years, MAC will show a quite strong growth in Earnings Per Share. The EPS will grow by 18.46% on average per year.
MAC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.60% yearly.
EPS Next Y52.84%
EPS Next 2Y35.64%
EPS Next 3Y26.25%
EPS Next 5Y18.46%
Revenue Next Year21.42%
Revenue Next 2Y10.3%
Revenue Next 3Y7.25%
Revenue Next 5Y5.6%
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 accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for MAC. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for MAC. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
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 67.19% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 16.79 |
4.3 Compensation for Growth
A more expensive valuation may be justified as MAC's earnings are expected to grow with 26.25% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y35.64%
EPS Next 3Y26.25%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.94%, MAC has a reasonable but not impressive dividend return.
MAC's Dividend Yield is slightly below the industry average, which is at 6.49.
Compared to an average S&P500 Dividend Yield of 2.44, MAC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.94% |
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
5.3 Sustainability
MAC has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-43.75%
EPS Next 2Y35.64%
EPS Next 3Y26.25%
17.21
-0.06 (-0.35%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners102.63%
Inst Owner Change2.04%
Ins Owners0.31%
Ins Owner Change2.69%
Market Cap4.35B
Revenue(TTM)1.03B
Net Income(TTM)-390.44M
Analysts70
Price Target20.01 (16.27%)
Short Float %4.88%
Short Ratio6.3
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.94% |
Yearly Dividend0.64
Dividend Growth(5Y)-25.88%
DP-43.75%
Div Incr Years0
Div Non Decr Years3
Ex-Date
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)1.19%
PT rev (3m)3.24%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-36.95%
EPS NY rev (1m)0.56%
EPS NY rev (3m)-57.07%
Revenue NQ rev (1m)0.36%
Revenue NQ rev (3m)1.35%
Revenue NY rev (1m)0.1%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 4.24 | ||
| P/FCF | N/A | ||
| P/OCF | 13.33 | ||
| P/B | 1.73 | ||
| P/tB | 1.88 | ||
| EV/EBITDA | 16.79 |
EPS(TTM)-1.59
EYN/A
EPS(NY)-0.13
Fwd EYN/A
FCF(TTM)-0.48
FCFYN/A
OCF(TTM)1.29
OCFY7.5%
SpS4.06
BVpS9.93
TBVpS9.15
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 0.01 |
F-Score4
WACC6.21%
ROIC/WACC0.29
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 Y52.84%
EPS Next 2Y35.64%
EPS Next 3Y26.25%
EPS Next 5Y18.46%
Revenue 1Y (TTM)-6.05%
Revenue growth 3Y2.71%
Revenue growth 5Y-0.2%
Sales Q2Q%15%
Revenue Next Year21.42%
Revenue Next 2Y10.3%
Revenue Next 3Y7.25%
Revenue Next 5Y5.6%
EBIT growth 1Y-8%
EBIT growth 3Y9.58%
EBIT growth 5Y-4.36%
EBIT Next Year227.67%
EBIT Next 3Y51.02%
EBIT Next 5Y28.77%
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.
What is the valuation status of MACERICH CO/THE (MAC) stock?
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 earnings growth outlook for MACERICH CO/THE?
The Earnings per Share (EPS) of MACERICH CO/THE (MAC) is expected to grow by 52.84% in the next year.