NYSE · Financial Statements

Mid-America Apartment Communities, Inc. (MAA) Financial Statements

$119.78 NYSE: MAA Market Cap $13.90B

Mid-America Apartment Communities, Inc. most recently reported annual revenue of $2.2B, net profit of $447.0M. Revenue grew at an average annual rate of 5.7% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Mid-America Apartment Communities, Inc.: Revenue rose from $1.1B in 2016 to $2.2B in 2025, a change of +96.4% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 24.2% to 28.0%, a shift of +3.9 percentage points; the most recent year shows net profit of $447.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$1.1B$1.5B$1.6B$1.6B$1.7B$1.8B$2.0B$2.1B$2.2B$2.2B
Operating Expenses$853.0M$1.2B$1.2B$1.2B$1.3B$1.3B$1.4B$1.5B$1.5B$1.6B
Operating Profit$272.0M$355.0M$401.0M$432.0M$428.0M$465.0M$629.0M$689.0M$657.0M$619.0M
Operating Margin24.2%23.2%25.5%26.4%25.5%26.1%31.1%32.1%30.0%28.0%
Other Income$-46.0M$-13.0M$-169.0M$-64.0M$-162.0M$98.0M$18.0M$-118.0M$-112.0M$-159.0M
Interest$130.0M$155.0M$174.0M$180.0M$168.0M$157.0M$155.0M$149.0M$169.0M$185.0M
Depreciation$323.0M$495.0M$491.0M$498.0M$512.0M$534.0M$544.0M$566.0M$586.0M$623.0M
Profit Before Tax$226.0M$342.0M$232.0M$369.0M$266.0M$563.0M$647.0M$571.0M$545.0M$460.0M
Tax$750,000$770,000$1.1M$1.0M$1.3M$2.4M$-960,000$830,000$960,000$1.0M
Net Profit$212.0M$328.0M$223.0M$354.0M$255.0M$534.0M$637.0M$553.0M$528.0M$447.0M
EPS$2.69$2.86$1.89$2.99$2.19$4.61$5.48$4.71$4.49$3.78
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$542.0M$542.0M$544.0M$546.0M$551.0M$550.0M$549.0M$550.0M$554.0M$556.0M$554.0M$555.0M
Operating Expenses$376.0M$365.0M$378.0M$381.0M$388.0M$387.0M$390.0M$398.0M$403.0M$398.0M$407.0M$414.0M
Operating Profit$166.0M$177.0M$166.0M$166.0M$163.0M$162.0M$159.0M$151.0M$151.0M$158.0M$147.0M$141.0M
Operating Margin30.7%32.6%30.5%30.3%29.6%29.5%29.0%27.5%27.2%28.4%26.6%25.4%
Interest$37.0M$39.0M$40.0M$41.0M$43.0M$44.0M$45.0M$45.0M$46.0M$49.0M$51.0M$53.0M
Profit Before Tax$113.0M$166.0M$149.0M$105.0M$118.0M$172.0M$187.0M$111.0M$104.0M$58.0M$132.0M$125.0M
Tax$-180,000$690,000$1.2M$970,000$570,000$1.0M$560,000$540,000$1.7M$2.0M$4.2M$360,000
Net Profit$111.0M$160.0M$144.0M$102.0M$115.0M$167.0M$182.0M$108.0M$100.0M$58.0M$124.0M$122.0M
EPS$0.94$1.37$1.22$0.86$0.98$1.42$1.54$0.92$0.84$0.48$1.06$1.04

Over the 10 years reported for Mid-America Apartment Communities, Inc., borrowings increased from $5.0B in 2016 to $5.4B in 2025, cash stood at $60.0M in the latest year, shareholders' equity was $1.0M, current assets covered current liabilities 0.16 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$11.6B$11.5B$11.3B$11.2B$11.2B$11.3B$11.2B$11.5B$11.8B$12.0B
Current Assets$122.0M$94.0M$52.0M$71.0M$36.0M$131.0M$61.0M$55.0M$65.0M$120.0M
Cash$34.0M$11.0M$34.0M$20.0M$25.0M$54.0M$39.0M$41.0M$43.0M$60.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$0$0$0$0$0$0$0$0$0$0
Fixed Assets$0$0$0$0$0$0$0$0$0$0
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$44.0M$45.0M$44.0M$44.0M$43.0M$43.0M$42.0M$42.0M$42.0M$161.0M
Other Assets$1.0M$0$0$0$0$0$0$0$0$0
Total Liabilities$5.0B$4.9B$4.9B$4.9B$5.1B$5.1B$5.0B$5.2B$5.7B$6.1B
Current Liabilities$453.0M$816.0M$954.0M$542.0M$700.0M$584.0M$558.0M$1.1B$857.0M$730.0M
Borrowings$5.0B$4.5B$4.5B$4.5B$4.6B$4.5B$4.4B$4.6B$5.0B$5.4B
Other Liabilities$0$406.0M$414.0M$472.0M$528.0M$584.0M$587.0M$618.0M$658.0M$730.0M
Equity$11.0M$12.0M$11.0M$15.0M$17.0M$31.0M$22.0M$20.0M$23.0M$1.0M
Reserves$6.4B$6.3B$6.2B$6.1B$5.9B$6.0B$6.0B$6.1B$6.0B$5.7B

For Mid-America Apartment Communities, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $718.0M; free cash flow was positive in 10 of 10 years; financing activities used $83.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$485.0M$661.0M$734.0M$781.0M$824.0M$895.0M$1.1B$1.1B$1.1B$1.1B
Investing Cash Flow$-833.0M$-638.0M$-621.0M$-428.0M$-710.0M$-765.0M$-701.0M$-1.1B$-1.1B$-1.1B
Financing Cash Flow$-18.0M$-26.0M$-23.0M$-15.0M$-22.0M$-28.0M$-74.0M$-39.0M$-28.0M$-83.0M
Net Cash Flow$58.0M$-33.0M$-37.0M$19.0M$-35.0M$95.0M$-70.0M$-6.0M$2.0M$17.0M
Free Cash Flow$301.0M$317.0M$480.0M$591.0M$598.0M$384.0M$762.0M$796.0M$776.0M$718.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-1.13
EV / EBITDA15.12
FCF Yield4.25%
Quick Ratio0.09
Interest Coverage2.99
Return 1Y-6.87%
Return 3Y-0.58%
Return 5Y-28.32%

Mid-America Apartment Communities, Inc. (MAA) financials — frequently asked questions

What is Mid-America Apartment Communities, Inc.'s annual revenue?

Mid-America Apartment Communities, Inc. (MAA) reported annual revenue of $2.2B in its most recent fiscal year.

What is Mid-America Apartment Communities, Inc.'s net profit?

Mid-America Apartment Communities, Inc. (MAA) reported net profit of $447.0M in its most recent fiscal year.

What is MAA EV/EBITDA?

Mid-America Apartment Communities, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 15.12.

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Data for information only, not investment advice. Figures may be delayed or inaccurate; verify against company filings. See our disclaimer.