Financials Mid-America Apartment Communities, Inc.

Stocks

MAA

US59522J1034

Residential REITs

Market Closed - NYSE Other stock markets 16:00:02 2026-07-17 EDT			5-day change	1st Jan Change
132.96 ^USD	-1.41%		-1.69%	-4.28%

07-16	JPMorgan Initiates Mid-America Apartment Communities at Neutral With $147 Price Target	MT
07-14	Barclays Adjusts Price Target on Mid-America Apartment Communities to $147 From $139, Maintains Equalweight Rating	MT

Projected Income Statement: Mid-America Apartment Communities, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	1,778	2,020	2,148	2,191	2,209	2,237	2,308	2,415
Change	-	13.6%	6.37%	1.98%	0.83%	1.27%	3.14%	4.66%
EBITDA ¹	1,013	1,178	1,262	1,247	1,247	1,252	1,284	1,356
Change	-	16.29%	7.13%	-1.15%	-0.03%	0.38%	2.56%	5.61%
EBIT ¹	464.9	628.9	688.9	656.8	619.4	598.5	617.5	680.5
Change	-	35.28%	9.54%	-4.67%	-5.68%	-3.39%	3.19%	10.19%
Interest Paid ¹	-156.9	-154.7	-149.2	-168.5	-185.3	-217	-239.3	-253.4
Earnings before Tax (EBT) ¹	563.1	647	570.8	544.9	459.1	400.9	384.6	372.6
Change	-	14.89%	-11.77%	-4.55%	-15.74%	-12.68%	-4.07%	-3.1%
Net income ¹	530.1	633.7	549.1	523.9	443.2	393.7	373.8	386.4
Change	-	19.55%	-13.35%	-4.6%	-15.39%	-11.17%	-5.04%	3.37%
Announcement Date	2/2/22	2/1/23	2/7/24	2/5/25	2/4/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	436.9	452.6	463.6	476.1	495	520.8	528	529	535.1	542	542.2	543.6	546.4	551.1	549.8	549.3	549.9	554.4	555.6	553.7	556.9	562.4	565.6	568.5	576	583.6	587.3	-
Change	-	3.58%	2.43%	2.7%	3.98%	5.2%	1.38%	0.2%	1.16%	1.29%	0.04%	0.25%	0.52%	0.86%	-0.23%	-0.1%	0.11%	0.81%	0.21%	-0.33%	0.57%	0.99%	0.58%	0.52%	1.31%	1.32%	0.65%	-
EBITDA ¹	243.6	256.2	275	274.7	278.6	301.6	316.5	313.5	313.8	315.2	319.3	309.8	311.6	310.8	314.9	312.8	305.9	308.5	319.7	309.9	303.7	309.5	319.4	317.9	317	318.7	330.6	328.1
Change	-	5.2%	7.34%	-0.12%	1.43%	8.23%	4.94%	-0.95%	0.1%	0.48%	1.27%	-2.97%	0.59%	-0.25%	1.31%	-0.68%	-2.2%	0.86%	3.61%	-3.06%	-1.99%	1.9%	3.21%	-0.48%	-0.3%	0.54%	3.73%	-0.75%
EBIT ¹	109.5	118.6	131.7	140.1	148	164	176.8	173.9	171.9	166.3	176.9	165.8	165.7	162.8	162.4	159.4	151.4	151	157.7	147.1	141.5	146.6	154.9	153	158.3	170.5	196	-
Change	-	8.36%	10.98%	6.39%	5.68%	10.83%	7.77%	-1.64%	-1.16%	-3.24%	6.35%	-6.28%	-0.01%	-1.75%	-0.28%	-1.85%	-5.01%	-0.3%	4.46%	-6.71%	-3.78%	3.58%	5.64%	-1.18%	3.45%	7.68%	14.94%	-
Charge d'intérêts ¹	-38.87	-39.23	-39.11	-39.12	-38.9	-38.64	-38.08	-37.28	-36.72	-36.65	-38.58	-40.36	-41.26	-42.73	-44.19	-45.16	-45.11	-46.28	-48.71	-51.41	-53.08	-55.33	-57.43	-58.03	-59.93	-61.28	-61.9	-
Earnings before Tax (EBT) ¹	225.6	89.59	198.4	111.8	213.1	124.1	198	140.1	152.1	113.1	165.5	148.9	105.2	118.4	172.3	187	110.9	103.4	57.74	131.9	90.06	92.5	101.1	95.79	92.96	96.38	109.1	-
Change	-	-60.29%	121.46%	-43.67%	90.68%	-41.76%	59.56%	-29.24%	8.57%	-25.67%	46.36%	-10.02%	-29.35%	12.58%	45.45%	8.53%	-40.66%	-6.78%	-44.17%	128.37%	-31.7%	2.71%	9.31%	-5.27%	-2.95%	3.68%	13.21%	-
Net income ¹	215.6	83.56	184.7	109.9	209.8	121.4	192.7	135	144.8	109.8	159.6	142.8	101	114.3	165.7	180.8	107.2	98.62	56.65	123.4	86.07	89.55	95.82	90.35	86.82	90.01	100.9	-
Change	-	-61.24%	121.07%	-40.52%	90.92%	-42.14%	58.75%	-29.95%	7.24%	-24.15%	45.3%	-10.48%	-29.26%	13.11%	45.02%	9.07%	-40.69%	-8.01%	-42.56%	117.9%	-30.27%	4.04%	7.01%	-5.71%	-3.91%	3.68%	12.13%	-
Announcement Date	7/28/21	10/27/21	2/2/22	4/27/22	7/27/22	10/26/22	2/1/23	4/26/23	7/26/23	10/25/23	2/7/24	5/1/24	7/31/24	10/30/24	2/5/25	4/30/25	7/30/25	10/29/25	2/4/26	4/29/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Mid-America Apartment Communities, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	4,462	4,376	4,499	4,938	5,345	5,836	6,013	6,222
Change	-	-1.93%	2.81%	9.76%	8.24%	9.18%	3.03%	3.48%
Announcement Date	2/2/22	2/1/23	2/7/24	2/5/25	2/4/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Mid-America Apartment Communities, Inc.

Fiscal Period: December	2022	2023	2024	2026	2027	2028
CAPEX ¹	271.4	223.5	937.3	460.3	421.1	140.2
Change	-	-17.68%	319.48%	-	-8.51%	-66.7%
Free Cash Flow (FCF) ¹	787.1	913.7	-	-	-	-
Change	-	16.1%	-	-	-	-
Announcement Date	2/1/23	2/7/24	2/5/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Mid-America Apartment Communities, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	56.96%	58.31%	58.73%	56.92%	56.44%	55.94%	55.62%	56.13%
EBIT Margin (%)	26.14%	31.13%	32.06%	29.97%	28.04%	26.75%	26.76%	28.17%
EBT Margin (%)	31.67%	32.03%	26.57%	24.87%	20.78%	17.92%	16.67%	15.43%
Net margin (%)	29.81%	31.38%	25.56%	23.91%	20.06%	17.6%	16.2%	16%
FCF margin (%)	-	38.97%	42.53%	-	-	-	-	-
FCF / Net Income (%)	-	124.19%	166.4%	-	-	-	-	-
Profitability
ROA	-	-	4.83%	4.5%	3.73%	3.34%	3.28%	3.54%
ROE	8.58%	10.59%	9.08%	8.7%	8.47%	6.94%	8.43%	7.06%
Financial Health
Leverage (Debt/EBITDA)	4.41x	3.72x	3.57x	3.96x	4.29x	4.66x	4.68x	4.59x
Debt / Free cash flow	-	5.56x	4.92x	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	13.44%	10.4%	42.78%	-	20.57%	18.25%	5.81%
CAPEX / EBITDA (%)	-	23.05%	17.71%	75.16%	-	36.78%	32.81%	10.35%
CAPEX / FCF (%)	-	34.49%	24.45%	-	-	-	-	-
Items per share
Cash flow per share ¹	-	8.923	9.749	9.158	-	8.692	8.882	-
Change	-	-	9.25%	-6.06%	-	-	2.19%	-
Dividend per Share ¹	4.162	4.675	5.67	5.925	6.075	6.138	6.263	6.445
Change	-	12.31%	21.28%	4.5%	2.53%	1.04%	2.03%	2.91%
Book Value Per Share ¹	-	52	50.85	49.54	47.26	43.97	40.86	38.84
Change	-	-	-2.21%	-2.59%	-4.59%	-6.96%	-7.06%	-4.96%
EPS ¹	4.61	5.48	4.71	4.49	3.78	3.393	3.177	3.724
Change	-	18.87%	-14.05%	-4.67%	-15.81%	-10.25%	-6.35%	17.19%
Nbr of stocks (in thousands)	115,138	115,477	116,688	116,880	117,082	116,385	116,385	116,385
Announcement Date	2/2/22	2/1/23	2/7/24	2/5/25	2/4/26	-	-	-