MID AMERICA APARTMENT COMMUNITIES INC. MAA

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

MAA, an S&P 500 company, is a multifamily-focused, self-administered and self-managed real estate investment trust, or REIT. We own, operate, acquire and selectively develop apartment communities primarily located in the Southeast, Southwest and Mid-Atlantic regions of the U.S. As of December 31, 2025, we maintained full or partial ownership of apartment communities, including communities currently in development, across 16 states and the District of Columbia, summarized as follows:

(1)As of December 31, 2025, 35 of the Company's apartment communities included retail components.

(2)Number of communities includes eight communities under development as of December 31, 2025. One of these developments is a phase II expansion of an existing apartment community.

Last close 119.78 2026-10-23
Market cap $13.94B 2026-03-31 share count
52-week range 113.95 - 144.41

Valuation FY2025 figures against the last close

P/S6.3x
P/E31.7x
P/FCF19.4x
EV/EBITDA—
Dividend yield5.1%
Diluted EPS3.78

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.21B$2.19B$2.15B$2.02B$1.78B$1.68B$1.64B$1.57B$1.53B—
SG&A $54.8M$56.5M$58.6M$58.8M$52.9M$46.9M$43.8M$38.9M$40.2M—
Total operating expenses $837.8M$820.1M$768.1M$723.7M——————
Interest expense $185.3M$168.5M$149.2M$154.7M$156.9M$167.6M$179.8M$173.6M$154.8M—
Pre-tax income $459.1M$544.9M$570.8M$647.0M$563.1M$265.8M$368.7M$231.8M$341.8M—
Income tax $4.6M$5.2M$4.7M$6.2M$13.6M$3.3M$3.7M$2.6M$2.6M—
Net income $456.6M$541.6M$567.8M$654.8M$550.7M$255.0M$353.8M$222.9M$328.4M—
EPS, basic 3.794.494.715.494.622.203.071.932.86—
EPS, diluted 3.784.494.715.484.612.193.071.932.86—
Shares, diluted (wtd. avg.) 117.1M116.8M116.6M115.6M115.0M114.5M114.1M113.8M113.7M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $60.3M$43.0M$41.3M$61.1M$130.6M$35.6M$70.5M$51.7M$88.9M$121.8M
Total assets $11.98B$11.81B$11.48B$11.24B$11.29B$11.19B$11.23B$11.32B——
Total liabilities $6.14B$5.66B$5.19B$5.03B$5.10B$5.09B$4.93B$4.94B——
Total equity $5.66B$5.94B$6.28B$6.19B$6.15B$6.09B$6.29B$6.37B$6.57B$6.64B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.08B$1.10B$1.14B$1.06B$895.0M$823.9M$781.4M$734.3M$660.8M—
Depreciation and amortisation $623.0M$586.4M$565.9M$544.0M$534.4M$511.7M$497.8M$491.0M$494.5M—
Stock-based compensation $16.8M$15.8M$15.7M$18.8M$16.7M$14.3M$13.7M$12.4M$10.6M—
Capital expenditure $360.2M$322.4M$341.2M$296.2M$279.6M$225.5M$190.2M$254.7M$343.9M—
Investing cash flow -$690.2M-$825.5M-$775.3M-$405.2M-$253.6M-$484.7M-$238.3M-$366.4M-$294.2M—
Financing cash flow -$370.7M-$271.1M-$367.9M-$722.8M-$546.4M-$374.1M-$524.3M-$405.1M-$399.5M—
Dividends paid $709.0M$686.9M$651.7M$539.6M$470.4M$457.4M$437.7M$419.8M$395.3M—
Buybacks $27.2M$0$0———————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-013212.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 1B 2B 3B Revenue, FY2017: 1.5B Net income, FY2017: 328.4M Revenue, FY2018: 1.6B Net income, FY2018: 222.9M Revenue, FY2019: 1.6B Net income, FY2019: 353.8M Revenue, FY2020: 1.7B Net income, FY2020: 255M Revenue, FY2021: 1.8B Net income, FY2021: 550.7M Revenue, FY2022: 2B Net income, FY2022: 654.8M Revenue, FY2023: 2.1B Net income, FY2023: 567.8M Revenue, FY2024: 2.2B Net income, FY2024: 541.6M Revenue, FY2025: 2.2B Net income, FY2025: 456.6M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $1.53B $1.57B $1.64B $1.68B $1.78B $2.02B $2.15B $2.19B $2.21B
Gross profit — — — — — — — — — —
Net income — $328.4M $222.9M $353.8M $255.0M $550.7M $654.8M $567.8M $541.6M $456.6M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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