US5543821012 - REIT

We assign a fundamental rating of **2** out of 10 to **MAC**. **MAC** was compared to 128 industry peers in the **Diversified REITs** industry. **MAC** may be in some trouble as it scores bad on both profitability and health. **MAC** does not seem to be growing, but still is valued expensively.

In the past year **MAC** has reported negative net income.

In the past year **MAC** had a positive cash flow from operations.

In multiple years **MAC** reported negative net income over the last 5 years.

Measured over the past 3 years, the **Average Return On Invested Capital** for **MAC** is in line with the industry average of **3.00%**.

The last **Return On Invested Capital** (**1.61%**) for **MAC** is above the 3 year average (**1.06%**), which is a sign of increasing profitability.

Industry Rank | Sector Rank | ||
---|---|---|---|

ROA | -4.42% | ||

ROE | -13.8% | ||

ROIC | 1.61% |

ROA(3y)-1.06%

ROA(5y)-0.29%

ROE(3y)-4.05%

ROE(5y)-1.3%

ROIC(3y)1.06%

ROIC(5y)1.31%

Looking at the **Operating Margin**, with a value of **18.89%**, **MAC** is in line with its industry, outperforming **41.94%** of the companies in the same industry.

Industry Rank | Sector Rank | ||
---|---|---|---|

OM | 18.89% | ||

PM (TTM) | N/A | ||

GM | 54.9% |

OM growth 3Y-7.74%

OM growth 5Y-5.87%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-3.29%

GM growth 5Y-1.95%

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), **MAC** is destroying value.

The **Altman-Z score** of **MAC** (**0.01**) is worse than **79.84%** of its industry peers.

The Debt to FCF ratio of **MAC** is **24.20**, which is on the high side as it means it would take **MAC**, **24.20** years of fcf income to pay off all of its debts.

A Debt/Equity ratio of **1.82** is on the high side and indicates that **MAC** has dependencies on debt financing.

The **Debt to Equity ratio** of **MAC** (**1.82**) is worse than **75.00%** of its industry peers.

Industry Rank | Sector Rank | ||
---|---|---|---|

Debt/Equity | 1.82 | ||

Debt/FCF | 24.2 | ||

Altman-Z | 0.01 |

ROIC/WACC0.25

WACC6.4%

A Current Ratio of **0.66** indicates that **MAC** may have some problems paying its short term obligations.

The **Current ratio** of **MAC** (**0.66**) is worse than **75.81%** of its industry peers.

A Quick Ratio of **0.66** indicates that **MAC** may have some problems paying its short term obligations.

Industry Rank | Sector Rank | ||
---|---|---|---|

Current Ratio | 0.66 | ||

Quick Ratio | 0.66 |

The **Revenue** has been growing slightly by **1.56%** in the past year.

EPS 1Y (TTM)-297.44%

EPS 3YN/A

EPS 5YN/A

EPS growth Q2Q-1642.86%

Revenue 1Y (TTM)1.56%

Revenue growth 3Y-2.52%

Revenue growth 5Y-2.87%

Revenue growth Q2Q3.56%

Based on estimates for the next years, **MAC** will show a very strong growth in **Earnings Per Share**. The EPS will grow by **21.43%** on average per year.

EPS Next Y-312.08%

EPS Next 2Y18.07%

EPS Next 3Y12.16%

EPS Next 5Y21.43%

Revenue Next Year3.3%

Revenue Next 2Y1.88%

Revenue Next 3Y2.79%

Revenue Next 5Y4.54%

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.

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 |

Compared to the rest of the industry, the **Price/Free Cash Flow** ratio of **MAC** indicates a somewhat cheap valuation: **MAC** is cheaper than 72.58% of the companies listed in the same industry.

Industry Rank | Sector Rank | ||
---|---|---|---|

P/FCF | 19.25 | ||

EV/EBITDA | 16.94 |

A more expensive valuation may be justified as **MAC**'s earnings are expected to grow with **12.16%** in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y18.07%

EPS Next 3Y12.16%

With a **Yearly Dividend Yield** of **3.96%**, **MAC** has a reasonable but not impressive dividend return.

Compared to an average industry **Dividend Yield** of **5.83**, **MAC** is paying slightly less dividend.

Compared to an average S&P500 **Dividend Yield** of **2.45**, **MAC** pays a better dividend.

Industry Rank | Sector Rank | ||
---|---|---|---|

Dividend Yield | 3.96% |

The dividend of **MAC** decreases each year by **-26.70%**.

Dividend Growth(5Y)-26.7%

Div Incr Years1

Div Non Decr Years1

DP-31.77%

EPS Next 2Y18.07%

EPS Next 3Y12.16%

**MACERICH CO/THE**

NYSE:MAC (2/27/2024, 7:04:00 PM)

After market: 16.37 0 (0%)**16.37**

**-0.15 (-0.91%) **

Chartmill FA Rating

GICS SectorReal Estate

GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)

GICS IndustryDiversified REITs

Earnings (Last)

Earnings (Next)

Inst Owners

Inst Owner Change

Ins Owners

Ins Owner Change

Market Cap3.53B

Analysts

Price Target

Dividend

Industry Rank | Sector Rank | ||
---|---|---|---|

Dividend Yield | 3.96% |

Dividend Growth(5Y)

DP

Div Incr Years

Div Non Decr Years

Ex-Date

Surprises & Revisions

EPS beat(2)

Avg EPS beat(2)

Min EPS beat(2)

Max EPS beat(2)

EPS beat(4)

Avg EPS beat(4)

Min EPS beat(4)

Max EPS beat(4)

EPS beat(8)

Avg EPS beat(8)

EPS beat(12)

Avg EPS beat(12)

EPS beat(16)

Avg EPS beat(16)

Revenue beat(2)

Avg Revenue beat(2)

Min Revenue beat(2)

Max Revenue beat(2)

Revenue beat(4)

Avg Revenue beat(4)

Min Revenue beat(4)

Max Revenue beat(4)

Revenue beat(8)

Avg Revenue beat(8)

Revenue beat(12)

Avg Revenue beat(12)

Revenue beat(16)

Avg Revenue beat(16)

PT rev (1m)

PT rev (3m)

EPS NQ rev (1m)

EPS NQ rev (3m)

EPS NY rev (1m)

EPS NY rev (3m)

Revenue NQ rev (1m)

Revenue NQ rev (3m)

Revenue NY rev (1m)

Revenue NY rev (3m)

Valuation

Industry Rank | Sector Rank | ||
---|---|---|---|

PE | N/A | ||

Fwd PE | N/A | ||

P/S | |||

P/FCF | |||

P/OCF | |||

P/B | |||

P/tB | |||

EV/EBITDA |

EPS(TTM)

EY

EPS(NY)

Fwd EY

FCF(TTM)

FCFY

OCF(TTM)

OCFY

SpS

BVpS

TBVpS

PEG (NY)N/A

PEG (5Y)N/A

Profitability

Industry Rank | Sector Rank | ||
---|---|---|---|

ROA | -4.42% | ||

ROE | -13.8% | ||

ROCE | |||

ROIC | |||

ROICexc | |||

ROICexgc | |||

OM | 18.89% | ||

PM (TTM) | N/A | ||

GM | 54.9% | ||

FCFM |

ROA(3y)

ROA(5y)

ROE(3y)

ROE(5y)

ROIC(3y)

ROIC(5y)

ROICexc(3y)

ROICexc(5y)

ROICexgc(3y)

ROICexgc(5y)

ROCE(3y)

ROCE(5y)

ROICexcg growth 3Y

ROICexcg growth 5Y

ROICexc growth 3Y

ROICexc growth 5Y

OM growth 3Y

OM growth 5Y

PM growth 3Y

PM growth 5Y

GM growth 3Y

GM growth 5Y

F-Score

Asset Turnover0.12

Health

Industry Rank | Sector Rank | ||
---|---|---|---|

Debt/Equity | 1.82 | ||

Debt/FCF | |||

Debt/EBITDA | |||

Cap/Depr | |||

Cap/Sales | |||

Interest Coverage | |||

Cash Conversion | |||

Profit Quality | |||

Current Ratio | 0.66 | ||

Quick Ratio | 0.66 | ||

Altman-Z |

F-Score

WACC

ROIC/WACC

Cap/Depr(3y)

Cap/Depr(5y)

Cap/Sales(3y)

Cap/Sales(5y)

Profit Quality(3y)

Profit Quality(5y)

Growth

EPS 1Y (TTM)-297.44%

EPS 3YN/A

EPS 5Y

EPS growth Q2Q

EPS Next Y-312.08%

EPS Next 2Y

EPS Next 3Y

EPS Next 5Y

Revenue 1Y (TTM)1.56%

Revenue growth 3Y-2.52%

Revenue growth 5Y

Revenue growth Q2Q

Revenue Next Year

Revenue Next 2Y

Revenue Next 3Y

Revenue Next 5Y

EBIT growth 1Y

EBIT growth 3Y

EBIT growth 5Y

EBIT Next Year

EBIT Next 3Y

EBIT Next 5Y

FCF growth 1Y

FCF growth 3Y

FCF growth 5Y

OCF growth 1Y

OCF growth 3Y

OCF growth 5Y