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The Macerich Company is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 39 million square feet of real estate, consisting primarily of interests in 38 retail centers. Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance. The Macerich Company was incorporated in 1964.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | - | $448M | $-197M | $322M | -8.1% | - | 1.6% |
| 2024 | - | $327M | $-194M | $283M | -7.0% | - | -29.2% |
| 2023 | - | $191M | $-274M | $296M | -11.2% | - | 314.8% |
| 2022 | - | $455M | $-66M | $338M | -2.3% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Operating Revenue | 973.47 |
| Cost Of Revenue | 457.60 |
| Gross Profit | 556.38 |
| Operating Expense | 388.62 |
| Selling General And Administration | 31.54 |
| Total Expenses | 846.22 |
| Operating Income | 167.76 |
| EBITDA | 448.39 |
| Normalized EBITDA | 571.81 |
| EBIT | 80.29 |
| Interest Expense | 283.54 |
| Net Interest Income | -283.54 |
| Other Income Expense | -87.47 |
| Interest Expense Non Operating | 283.54 |
| Net Non Operating Interest Income Expense | -283.54 |
| Pretax Income | -203.25 |
| Tax Provision | -2.19 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | -19.99 |
| Net Income Continuous Operations | -201.06 |
| Net Income From Continuing And Discontinued Operation | -197.15 |
| Net Income From Continuing Operation Net Minority Interest | -197.15 |
| Net Income | -197.15 |
| Net Income Common Stockholders | -197.92 |
| Net Income Including Noncontrolling Interests | -201.06 |
| Normalized Income | -93.73 |
| Diluted NI Availto Com Stockholders | -197.92 |
| Basic Average Shares | 254.22 |
| Diluted Average Shares | 264.97 |
| Reconciled Depreciation | 368.10 |
| Reconciled Cost Of Revenue | 446.58 |
| Total Unusual Items | -123.42 |
| Total Unusual Items Excluding Goodwill | -123.42 |
| Minority Interests | 3.91 |
| Special Income Charges | -144.90 |
| Other Special Charges | - |
| Write Off | - |
| Impairment Of Capital Assets | 151.45 |
| Gain On Sale Of Security | 21.48 |
| Depreciation Amortization Depletion Income Statement | 357.08 |
| Depreciation And Amortization In Income Statement | 357.08 |
| General And Administrative Expense | 31.54 |
| Other Gand A | 31.54 |
| Gain On Sale Of Ppe | 6.54 |
| Rent Expense Supplemental | 46.63 |
| Otherunder Preferred Stock Dividend | 0.77 |
| Earnings From Equity Interest | 35.95 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The Macerich Companythis co. | MAC | $6.8B | -34.74 | 2.80 | -8.1% | 26.10 |
| Alexandria Real Estate Equities, Inc. | ARE | $9.3B | -6.48 | 0.60 | -9.2% | 59.56 |
| Ryman Hospitality Properties, Inc. | RHP | $7.4B | 30.35 | 9.85 | 32.5% | 14.28 |
| Terreno Realty Corporation | TRNO | $6.8B | 16.99 | 1.64 | 9.7% | 13.88 |
| Essential Properties Realty Trust, Inc. | EPRT |
| - |
| - |
| - |
| $6.4B |
| 25.43 |
| 1.53 |
| 6.0% |
| 17.24 |
| OUTFRONT Media Inc. | OUT | $5.5B | 37.55 | 7.77 | 20.7% | 21.08 |
| Phillips Edison & Company, Inc. | PECO | $5.4B | 48.83 | 2.38 | 4.9% | 15.86 |
| Rithm Capital Corp. | RITM | $5.1B | 7.51 | 0.73 | 9.7% | - |
| Millrose Properties, Inc. | MRP | $4.8B | 12.59 | 0.82 | 6.5% | 13.94 |
| Peer Median | - | 21.21 | 1.59 | 8.1% | 15.86 | |