MACERICH CO/THE (MAC) Stock Fundamental Analysis
USA - NYSE:MAC - US5543821012 - REIT
17.29 USD
-0.05 (-0.29%)
Overall MAC gets a fundamental rating of 1 out of 10. We evaluated MAC against 129 industry peers in the Diversified REITs industry. MAC may be in some trouble as it scores bad on both profitability and health. MAC is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year MAC has reported negative net income.
In the past year MAC had a positive cash flow from operations.
MAC had negative earnings in 4 of the past 5 years.
In the past 5 years MAC always reported a positive cash flow from operatings.
1.2 Ratios
With a Return On Assets value of -4.71%, MAC is not doing good in the industry: 79.84% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of -15.91%, MAC is doing worse than 80.62% of the companies in the same industry.
MAC has a Return On Invested Capital of 1.64%. This is in the lower half of the industry: MAC underperforms 73.64% 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 3.01%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -4.71% | ||
| ROE | -15.91% | ||
| ROIC | 1.64% |
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
MAC's Operating Margin of 17.30% is in line compared to the rest of the industry. MAC outperforms 41.09% of its industry peers.
MAC's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 54.04%, MAC is not doing good in the industry: 75.97% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of MAC has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 17.3% | ||
| PM (TTM) | N/A | ||
| GM | 54.04% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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.
Compared to 1 year ago, MAC has a worse debt to assets ratio.
2.2 Solvency
MAC has an Altman-Z score of 0.00. This is a bad value and indicates that MAC is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 0.00, MAC is not doing good in the industry: 74.42% of the companies in the same industry are doing better.
MAC has a Debt/Equity ratio of 2.06. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 2.06, MAC is doing worse than 71.32% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.06 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0 |
ROIC/WACC0.27
WACC6.19%
2.3 Liquidity
A Current Ratio of 0.57 indicates that MAC may have some problems paying its short term obligations.
MAC has a worse Current ratio (0.57) than 76.74% of its industry peers.
A Quick Ratio of 0.57 indicates that MAC may have some problems paying its short term obligations.
MAC has a worse Quick ratio (0.57) than 75.97% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.57 | ||
| Quick Ratio | 0.57 |
3. Growth
3.1 Past
MAC shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -337.50%.
The Revenue has decreased by -8.90% 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)-337.5%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-113.79%
Revenue 1Y (TTM)-8.9%
Revenue growth 3Y2.71%
Revenue growth 5Y-0.2%
Sales Q2Q%15.9%
3.2 Future
The Earnings Per Share is expected to grow by 18.46% on average over the next years. This is quite good.
Based on estimates for the next years, MAC will show a small growth in Revenue. The Revenue will grow by 5.60% on average per year.
EPS Next Y52.58%
EPS Next 2Y35.12%
EPS Next 3Y26.25%
EPS Next 5Y18.46%
Revenue Next Year21.3%
Revenue Next 2Y10.3%
Revenue Next 3Y7.25%
Revenue Next 5Y5.6%
3.3 Evolution
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
82.17% of the companies in the same industry are cheaper than MAC, based on the Enterprise Value to EBITDA ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 18.47 |
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 2Y35.12%
EPS Next 3Y26.25%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.99%, MAC has a reasonable but not impressive dividend return.
MAC's Dividend Yield is slightly below the industry average, which is at 7.00.
Compared to an average S&P500 Dividend Yield of 2.40, MAC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.99% |
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-40.07%
EPS Next 2Y35.12%
EPS Next 3Y26.25%
NYSE:MAC (10/16/2025, 10:19:00 AM)
17.29
-0.05 (-0.29%)
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 Change-0.01%
Ins Owners0.31%
Ins Owner Change0.18%
Market Cap4.37B
Analysts70
Price Target19.77 (14.34%)
Short Float %5.57%
Short Ratio7.08
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.99% |
Yearly Dividend0.64
Dividend Growth(5Y)-25.88%
DP-40.07%
Div Incr Years0
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-121.03%
Min EPS beat(2)-147.52%
Max EPS beat(2)-94.54%
EPS beat(4)0
Avg EPS beat(4)-749.32%
Min EPS beat(4)-1955.13%
Max EPS beat(4)-94.54%
EPS beat(8)2
Avg EPS beat(8)-443.48%
EPS beat(12)3
Avg EPS beat(12)-335.71%
EPS beat(16)4
Avg EPS beat(16)-252.19%
Revenue beat(2)2
Avg Revenue beat(2)7.51%
Min Revenue beat(2)2.85%
Max Revenue beat(2)12.16%
Revenue beat(4)4
Avg Revenue beat(4)10.2%
Min Revenue beat(4)2.85%
Max Revenue beat(4)22.66%
Revenue beat(8)7
Avg Revenue beat(8)6.6%
Revenue beat(12)10
Avg Revenue beat(12)4.89%
Revenue beat(16)13
Avg Revenue beat(16)4.51%
PT rev (1m)1.61%
PT rev (3m)4.45%
EPS NQ rev (1m)-2.56%
EPS NQ rev (3m)-51.34%
EPS NY rev (1m)-40%
EPS NY rev (3m)-57.95%
Revenue NQ rev (1m)-0.13%
Revenue NQ rev (3m)3.57%
Revenue NY rev (1m)-0.1%
Revenue NY rev (3m)3.3%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 4.4 | ||
| P/FCF | N/A | ||
| P/OCF | 13.92 | ||
| P/B | 1.69 | ||
| P/tB | 1.86 | ||
| EV/EBITDA | 18.47 |
EPS(TTM)-1.75
EYN/A
EPS(NY)-0.14
Fwd EYN/A
FCF(TTM)-0.53
FCFYN/A
OCF(TTM)1.24
OCFY7.18%
SpS3.93
BVpS10.23
TBVpS9.3
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -4.71% | ||
| ROE | -15.91% | ||
| ROCE | 2.08% | ||
| ROIC | 1.64% | ||
| ROICexc | 1.67% | ||
| ROICexgc | 1.74% | ||
| OM | 17.3% | ||
| PM (TTM) | N/A | ||
| GM | 54.04% | ||
| 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%
ROICexcg growth 3Y9.63%
ROICexcg 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 Turnover0.11
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.06 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 10.26 | ||
| Cap/Depr | 129.48% | ||
| Cap/Sales | 45.18% | ||
| Interest Coverage | 0.88 | ||
| Cash Conversion | 60.57% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.57 | ||
| Quick Ratio | 0.57 | ||
| Altman-Z | 0 |
F-Score4
WACC6.19%
ROIC/WACC0.27
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)-337.5%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-113.79%
EPS Next Y52.58%
EPS Next 2Y35.12%
EPS Next 3Y26.25%
EPS Next 5Y18.46%
Revenue 1Y (TTM)-8.9%
Revenue growth 3Y2.71%
Revenue growth 5Y-0.2%
Sales Q2Q%15.9%
Revenue Next Year21.3%
Revenue Next 2Y10.3%
Revenue Next 3Y7.25%
Revenue Next 5Y5.6%
EBIT growth 1Y-13.25%
EBIT growth 3Y9.58%
EBIT growth 5Y-4.36%
EBIT Next Year227.67%
EBIT Next 3Y51.02%
EBIT Next 5Y28.77%
FCF growth 1Y-161.46%
FCF growth 3Y-40.36%
FCF growth 5Y-30.47%
OCF growth 1Y-12.99%
OCF growth 3Y-0.35%
OCF growth 5Y-4.41%