Pricing Log in Create free account
Saturday 17 October 2026 Export MAA’s income statement to Excel — free account

Mid-America Apartment Communities, Inc.

MAA Real Estate Reit Residential

Mid-America Apartment Communities, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 0.83% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 13.0%, free cash flow fell 3.86% and total debt rose 12.8%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for three consecutive years, revenue growth for ten; insiders bought in the last twelve months.

116.52 0.25 +0.22%
Market cap
$13.8B
P/E
34.1×
Fwd P/E
40.5×
Dividend yield
5.25%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Mid-America Apartment Communities, Inc. (MAA) Piotroski F-score

Alert me on Piotroski F-score

Mid-America Apartment Communities, Inc.'s Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, up from 3 in fiscal 2024.

Piotroski F-score, annual

Embed this chart

Annual newest first

Period Piotroski F-score Change (points)
FY2025 4 1.00
FY2024 3 (2.00)
FY2023 5 (2.00)
FY2022 7 (1.00)
FY2021 8 4.00
FY2020 4 (4.00)
FY2019 8 4.00
FY2018 4 (3.00)
FY2017 7 2.00
FY2016 5 —

How fiscal 2025’s score is made up

Test This year Year before Result Points
Positive return on assets 3.73% 4.50% Pass 1
Positive operating cash flow 1.08b 1.10b Pass 1
Rising return on assets 3.73% 4.50% Fail 0
Cash flow above net income 634.95m 574.44m Pass 1
Falling long-term leverage 0.45 0.43 Fail 0
Rising current ratio 0.10 0.08 Pass 1
No new shares issued 116,954,000 116,776,000 Fail 0
Rising gross margin 58.69% 59.28% Fail 0
Rising asset turnover 0.19 0.19 Fail 0
Piotroski F-score Mixed 4

How the Piotroski F-score works

One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.

Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:

7–9Strong — most fundamentals improved
4–6Mixed
0–3Weak — most fundamentals deteriorated

Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.

Piotroski F-score against peers

Company Piotroski F-score
AMH American Homes 4 Rent compare 7
SUI Sun Communities, Inc. compare 7
CPT Camden Property Trust compare 7
INVH Invitation Home compare 6
ELS Equity Lifestyle Properties, Inc. compare 6
VMRK Vivmark Residential compare 6
UDR United Dominion Realty Trust, Inc. compare 5
ESS Essex Property Trust, Inc. compare 5
MAA Mid-America Apartment Communities, Inc. 4

What Piotroski F-score is

The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.

One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover

The full definition of Piotroski F-score →

More on MAA