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Mid-America Apartment Communities, Inc.is a S&P 500 company. It is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States. As of December 31, 2025, MAA had ownership interest in 104,945 apartment units, including communities currently in development, across 16 states and the District of Columbia. Mid-America Apartment Communities, Inc. was incorporated in 1997 in Tennessee, USA.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.2B | $1.3B | $447M | $718M | 7.9% | 0.8% | -15.3% |
| 2024 | $2.2B | $1.3B | $528M | $776M | 8.8% | 2.0% | -4.6% |
| 2023 | $2.1B | $1.3B | $553M | $796M | 9.0% | 6.4% | -13.3% |
| 2022 | $2.0B | $1.3B | $637M | $762M | 10.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,019.87 | 2,148.47 | 2,191.02 | 2,209.13 |
| Cost Of Revenue | 1,332.16 | 1,400.99 | 1,477.75 | 1,534.88 |
| Gross Profit | 687.71 | 747.48 | 713.27 | 674.24 |
| Operating Expense | 58.83 | 58.58 | 56.52 | 54.81 |
| Operating Income | 628.88 | 688.90 | 656.75 | 619.44 |
| EBITDA | 1,345.74 | 1,285.94 | 1,299.81 | 1,267.31 |
| EBIT | 801.74 | 720.08 | 713.41 | 644.34 |
| Pretax Income | 646.99 | 570.84 | 544.86 | 459.09 |
| Tax Provision | -6.21 | 4.74 | 5.24 | 4.60 |
| Net Income | 637.44 | 552.81 | 527.54 | 446.91 |
| Net Income Common Stockholders | 633.31 | 548.89 | 523.78 | 442.98 |
| Total Expenses | 1,390.99 | 1,459.57 | 1,534.26 | 1,589.69 |
| Interest Expense | 154.75 | 149.23 | 168.54 | 185.26 |
| Selling General And Administration | 58.83 | 58.58 | 56.52 | 54.81 |
| Normalized EBITDA | 1,130.17 | 1,285.94 | 1,244.81 | 1,195.25 |
| Normalized Income | 467.13 | 552.81 | 473.07 | 375.56 |
| Market Cap | 14,620.24 | 14,620.24 | 14,620.24 | 14,620.24 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Mid-America Apartment Communities, Inc.this co. | MAA | $14.8B | 32.71 | 2.57 | 7.9% | 15.77 |
| Weyerhaeuser Company | WY | $18.0B | 55.70 | 1.91 | 3.4% | 22.25 |
| Kimco Realty Corporation | KIM | $16.9B | 27.32 | 1.54 | 5.6% | 16.59 |
| Essex Property Trust, Inc. | ESS | $16.4B | 24.59 | 2.97 | 12.1% | 14.82 |
| Regency Centers Corporation | REG |
| $15.0B |
| 28.42 |
| 2.24 |
| 7.9% |
| 17.55 |
| Host Hotels & Resorts, Inc. | HST | $14.4B | 18.78 | 2.19 | 11.7% | 10.41 |
| CoStar Group, Inc. | CSGP | $12.7B | 2206.30 | 1.85 | 0.1% | 78.51 |
| Healthpeak Properties, Inc. | DOC | $11.7B | 160.11 | 1.52 | 1.0% | 12.80 |
| UDR, Inc. | UDR | $11.6B | 34.66 | 4.03 | 11.6% | 14.90 |
| Peer Median | - | 31.54 | 2.05 | 6.8% | 15.75 | |