Mid-America Apartment Communities (MAA)
Real Estate · $13.9B market cap · SEC CIK 0000912595
$119.15
▲+0.24% on the day
close of Sep 22, 2026
43
Screens poorly
fundamentals score out of 100
fundamentals score out of 100
Next reports on Oct 27, 2026, after the close, with analysts expecting $0.77 in earnings per share.
The case for MAA
- Pays a 4.6% dividend while you wait.
- Gross margin of 58% absorbs cost shocks.
- Moves less than the market (beta 0.70).
The case against
- Earnings per share down 29.3%.
- Pricey at 34.4× earnings, against a long-run market average nearer 20×.
- Near the bottom of its 52-week range, 17% below the high. Falling prices usually have a reason; find it first.
- Priced at 6.2× sales with revenue growing only 0.8%.
- Revenue was flat on the year (+0.8%).
- Return on equity of only 7%.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Real Estate companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 47 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 24 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 48 |
| Momentumhow the price has behaved lately | 20 |
| Stabilityhow violently it moves, what it owes and what it pays you | 85 |
- Each factor except momentum is half fixed thresholds, half rank among the 31 Real Estate companies.
Key numbers
| Price / earnings | 34.4× |
|---|---|
| Price / book | 2.97× |
| Price / sales | 6.2× |
| Revenue growth (YoY) | +0.8% |
| EPS growth (YoY) | -29.3% |
| Gross margin | 58% |
| Operating margin | 24% |
| Net margin | 18% |
| Return on equity | 7% |
| Debt / equity | 1.04× |
| Current ratio | 0.09 |
| Dividend yield | 4.57% |
| Beta | 0.70 |
| 52-week range | $117.98 – $144.41 |
| Position in that range | 4% of the way up |
| 3-month return | -10.3% |
| 1-year return | -15.6% |
Five years of financials, as filed
Pulled from Mid-America Apartment Communities's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $2.2B | $2.2B | $2.1B | $2.0B | $1.8B |
| Net income | $447M | $528M | $553M | $637M | $534M |
| Operating cash flow | $1.1B | $1.1B | $1.1B | $1.1B | $895M |
| Total assets | $12.0B | $11.8B | $11.5B | $11.2B | $11.3B |
| Total liabilities | $6.1B | $5.7B | $5.2B | $5.0B | $5.1B |
| Shareholder equity | $5.7B | $5.9B | $6.1B | $6.0B | $6.0B |
| Cash | $60.3M | $43.0M | $41.3M | $38.7M | $54.3M |
| Net margin | 20.2% | 24.1% | 25.7% | 31.6% | 30.0% |
| Diluted shares | 117M | 117M | 117M | 116M | 115M |
Share count is essentially flat over 4 years.
Risk factors MAA lists in its 10-K
- Funds from Operations and Core Funds from Operations
- Net income available for MAA common shareholders
- FFO attributable to common shareholders and unitholders
- Core FFO attributable to common shareholders and unitholders
- Net Debt, EBITDA, EBITDAre, and Adjusted EBITDAre
- Cash Flows from Operating Activities
- Cash Flows from Investing Activities
- Primary drivers of cash (outflow) inflow during the year ended December 31,
- Cash Flows from Financing Activities
- Primary drivers of cash inflow (outflow) during the year ended December 31,
- Unsecured Revolving Credit Facility & Commercial Paper
- Mid-America Apartment Communities, Inc
- (a) Evaluation of Disclosure Controls and Procedures
- (b) Management’s Report on Internal Control over Financial Reporting