Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Mid-America Apartment Communities

MAA stock analysis · Real Estate · Multi-Family Residential REITs

FY 2025-12-31ANNUAL FILINGS
Compare ⇄
These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$138.94HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$16.2B

Price × SEC outstanding shares. Shares measured 2026-04-27. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Reverse DCF

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Relative valuation

-4.0%

26 sector peers · median 35.0×

How this is calculated ↗
Valuation

Historical multiples

34.2×

7 annual observations · snapshot P/E 36.5× · 6.7% versus history

How this is calculated ↗
Valuation

Free cash flow yield

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Quality

ROIC / quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

1.4%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

4.5%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Momentum

Fundamental momentum

Requires two adjacent years of revenue, operating income and cash flow.

Requires two adjacent years of revenue, operating income and cash flow.

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 1.1B2020-12-31: cfo $823,949,000.002020-12-31: capex $225,506,000.0020202021-12-31: cfo $894,967,000.002021-12-31: capex $279,635,000.0020212022-12-31: cfo $1,058,479,000.002022-12-31: capex $296,176,000.0020222023-12-31: cfo $1,137,187,000.002023-12-31: capex $341,224,000.0020232024-12-31: cfo $1,098,292,000.002024-12-31: capex $322,372,000.0020242025-12-31: cfo $1,078,175,000.002025-12-31: capex $360,238,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%
10.0%
12.0%

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-312.2B456.6M1.1B360.2M12B
2024-12-312.2B541.6M1.1B322.4M11.8B
2023-12-312.1B567.8M1.1B341.2M11.5B
2022-12-312B654.8M1.1B296.2M11.2B
2021-12-311.8B550.7M895M279.6M11.3B
2020-12-311.7B264M823.9M225.5M11.2B
2019-12-311.6B366.6M781.4M190.2M11.2B
2018-12-311.6B231M734.3M254.7M11.3B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue2.2BRevenues2026-02-06
netIncome456.6MProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-06
Parent/common earnings proxy443.2MNetIncomeLossAvailableToCommonStockholdersBasic2026-02-06
cfo1.1BNetCashProvidedByUsedInOperatingActivities2026-02-06
capex360.2MPaymentsForCapitalImprovements2026-02-06
operatingIncomeNot reported under a supported tag
assets12BAssets2026-02-06
equity5.7BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-06
Parent book equity proxy5.7BStockholdersEquity2026-02-06
debtNot reported under a supported tag
shortDebtNot reported under a supported tag
cash60.3MCashAndCashEquivalentsAtCarryingValue2026-02-06
shares117.1MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-06
dividends709MPaymentsOfDividendsCommonStock2026-02-06
buybacks27.2MPaymentsForRepurchaseOfCommonStock2026-02-06
issuance1.5MProceedsFromIssuanceOfCommonStock2026-02-06