Saturday 17 October 2026 Export MAC’s income statement to Excel — free account

Macerich Company (The)

Macerich Company (The)’s revenue for fiscal 2025 (year ended December 2025) was $1.0 billion, up 10.4% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 37.5%, free cash flow fell 57.9% and total debt fell 8.87%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five.

22.96 0.13 −0.56%

Follow MAC

Alert me

Market cap: $6.8B
P/E: 0.0×
Fwd P/E: −139×
Dividend yield: 2.96%
F-score: 7/9
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 10-Q 10-K

Insider Decisions trades per month

Total sells 0.06

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	1	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 6,810.00

Revenue 1,006.21

Net Income (172.11)

Free Cash Flow (101.07)

Net Debt 4,537.13

Current Ratio 0.88

Debt/Equity 1.67

P/E ratio 0.00

Fwd P/E (139.00)

P/S ratio 6.25

P/B ratio 2.16

Past 5Y EPS Growth —

This Y EPS Growth 78.04%

Next Y EPS Growth 185.36%

Next Y revenue growth (3.49%)

Next 5Y EPS Growth 56.41%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 67.38%

10-year low 10-year high

P/B against its own 10 years 76.67%

10-year low 10-year high

EV/Sales against its own 10 years 65.46%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate 0.68

Annual Dividend Yield 2.96%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.68	0.17 0.17 0.17
2025	0.68	0.17 0.17 0.17 0.17
2024	0.68	0.17 0.17 0.17 0.17
2023	0.68	0.17 0.17 0.17 0.17
2022	0.62	0.15 0.15 0.15 0.17
2021	0.60	0.15 0.15 0.15 0.15
2020	1.15	0.75 0.10 0.15 0.15
2019	3.00	0.75 0.75 0.75 0.75
2018	2.97	0.74 0.74 0.74 0.75
2017	2.87	0.71 0.71 0.71 0.74
2016	2.75	0.68 0.68 0.68 0.71

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	190	177	373	311
Receivables	188	157	148	132
Inventory	—	—	—	—
Other	—	—	—	—
	379	335	521	443

	2023	2024	2025	Q'26
Payables	64	88	125	132
ST’ Debt	—	—	—	—
Other	—	—	—	—
	399	467	511	506

Compound Annual Growth %

	10y	5y	3y
Sales	(2.36%)	5.22%	5.68%
Cash Flow	(5.31%)	20.84%	(1.60%)
Earnings	0.00%	0.00%	0.00%
Book Value	(6.73%)	0.66%	(5.02%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	242	250	—	—	—
’25	249	250	253	262	1,014
’24	209	216	220	274	918
’23	215	212	218	239	884
’22	216	204	211	228	859
’21	190	215	212	229	847
’20	227	179	186	195	786

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	77	67	—	—	—
’25	88	71	112	50	322
’24	61	67	100	55	283
’23	81	58	107	49	296
’22	65	50	170	53	338
’21	52	61	99	75	286
’20	50	(65)	81	60	125

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	22	(265)	—	—	—
’25	73	(168)	113	28	47
’24	27	(1)	162	39	227
’23	51	1	81	(2)	132
’22	71	36	141	20	269
’21	129	82	243	62	516
’20	21	(88)	84	56	73

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.14)	(0.10)	—	—	—
’25	(0.20)	(0.16)	(0.34)	(0.07)	(0.78)
’24	(0.56)	1.16	(0.50)	(0.89)	(0.88)
’23	(0.27)	(0.07)	(1.22)	0.29	(1.28)
’22	(0.17)	(0.07)	(0.07)	0.01	(0.31)
’21	(0.40)	(0.05)	0.50	(0.08)	0.07
’20	0.05	(0.18)	(0.15)	(1.19)	(1.47)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	66.00	52.12	40.90	25.53	4.81	10.31	7.40	8.77	12.99	12.48	Analyst estimates 2026–2028 Powerpack
	High	94.51	73.34	69.73	47.05	26.98	25.99	19.18	16.54	22.27	21.12
People
People	Employees	851	855	718	737	670	640	651	655	616	598
	Revenue/emp, $m	1.22	1.16	1.34	1.26	1.17	1.32	1.32	1.35	1.49	1.70
Income, $m
Income, $m	Revenue	1,041	994	960	927	786	847	859	884	918	1,014
	Gross margin, %	61.01	60.22	60.33	60.33	55.73	55.05	54.57	55.33	53.14	54.87
	EBT	556	177	97	116	(14)	(53)	(72)	(144)	(238)	(80)
	EBT margin, %	53.35	17.84	10.12	12.51	(1.84)	(6.21)	(8.39)	(16.30)	(25.91)	(7.87)
	Net income	555	162	69	103	(245)	16	(65)	(278)	(198)	(201)
	Depreciation	372	369	361	349	339	339	320	310	331	417
Per share, $
Per share, $	Revenue	7.10	7.00	6.80	6.56	5.38	4.28	4.00	4.10	4.14	3.99
	Earnings	3.52	1.02	0.42	0.68	(1.57)	0.07	(0.31)	(1.28)	(0.88)	(0.78)
	Cash flow	2.93	2.72	2.44	2.51	0.85	1.45	1.57	1.37	1.28	1.27
	Capex	3.17	0.37	(1.07)	(1.29)	(0.35)	1.16	(0.32)	(0.76)	(0.25)	(1.08)
	Free cash flow	6.10	3.10	1.37	1.22	0.50	2.60	1.25	0.61	1.02	0.18
	Book value	30.20	27.97	22.59	20.03	16.72	16.04	13.72	11.73	12.81	9.94
	Shares, m	147	142	141	141	146	198	215	216	222	254
Valuation, ×
Valuation, ×	P/E	20.69	65.30	105.56	39.59	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	9.99	9.51	6.36	4.10	1.99	4.04	2.80	3.79	4.81	4.63
	P/B	2.35	2.38	1.92	1.34	0.64	1.08	0.82	1.33	1.55	1.86
	EV/Sales	14.62	14.57	11.39	9.89	9.05	9.33	7.71	8.47	10.06	9.26
	EV/FCF	17.03	32.94	56.71	53.10	96.91	15.33	24.67	56.81	40.66	200.34
Cash, $m
Cash, $m	Operating cash flow	430	386	344	355	125	286	338	296	283	322
	Capex	465	53	(151)	(182)	(51)	229	(69)	(164)	(56)	(275)
	Free cash flow	894	440	193	173	73	516	269	132	227	47
Balance, $m
Balance, $m	Working capital	(78)	(46)	(4)	(52)	356	65	(14)	(20)	(133)	10
	Total debt	4,966	5,170	4,982	5,484	6,038	4,647	4,404	4,328	4,993	5,069
	Net debt	4,822	5,027	4,833	5,370	5,556	4,480	4,223	4,138	4,815	4,696
	Shareholders’ equity	4,427	3,968	3,188	2,831	2,445	3,176	2,949	2,528	2,842	2,527
Returns, %
Returns, %	ROA	4.88	1.49	0.63	1.08	(2.55)	0.16	(0.80)	(3.51)	(2.41)	(2.33)
	ROIC	1.75	1.63	1.62	1.57	0.69	1.02	1.31	1.67	1.35	1.45
	ROE	10.89	3.48	1.65	3.22	(8.73)	0.51	(2.16)	(10.01)	(7.23)	(7.34)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
FRT Federal Realty Investment Trust	$9.2B	21.4×	31.8×	+7.76% (above 0%: growing)	−45.81% (below 0%: shrinking)	−1.70% (below 0%: shrinking)	69.15%	41.30%	Compare
BRX Brixmor Property Group Inc.	$8.4B	19.5×	26.3×	+4.33% (above 0%: growing)	−14.29% (below 0%: shrinking)	−41.05% (below 0%: shrinking)	75.01%	34.33%	Compare
ADC Agree Realty Corporation	$8.3B	36.0×	37.9×	+16.85% (above 0%: growing)	+2.33% (above 0%: growing)	−56.33% (below 0%: shrinking)	87.63%	46.47%	Compare
NNN NNN REIT, Inc.	$7.9B	20.4×	21.9×	+7.70% (above 0%: growing)	−3.70% (below 0%: shrinking)	−108.69% (below 0%: shrinking)	96.62%	61.97%	Compare
MAC Macerich Company (The)	$6.8B	— (loss-making)	— (loss-making)	−0.03% (below 0%: shrinking)	n/m	−57.87% (below 0%: shrinking)	53.67%	15.35%
EPRT Essential Properties Realty Trust, Inc.	$5.7B	20.2×	23.2×	+18.11% (above 0%: growing)	+6.25% (above 0%: growing)	+28.34% (above 0%: growing)	99.33%	64.50%	Compare
PECO Phillips Edison & Company, Inc.	$5.4B	33.2×	51.7×	+6.68% (above 0%: growing)	+230.00% (above 0%: growing)	+147.93% (above 0%: growing)	71.21%	28.80%	Compare
KRG Kite Realty Group Trust	$4.9B	15.1×	79.4×	−8.03% (below 0%: shrinking)	+60.00% (above 0%: growing)	−21.08% (below 0%: shrinking)	73.01%	23.52%	Compare
SKT Tanger Inc.	$4.1B	31.9×	35.3×	+11.15% (above 0%: growing)	+7.41% (above 0%: growing)	−86.16% (below 0%: shrinking)	70.92%	30.98%	Compare
Median of peers	$6.8B	20.9×	33.6×	+7.73%	+4.29%	−31.06%	74.01%	37.82%

All 26 Reit Retail stocks →

Macerich Company (The) (MAC) key facts

Strength: Macerich Company (The)’s revenue for fiscal 2025 (year ended December 2025) was $1.0 billion, up 10.4% from fiscal 2024.
Macerich Company (The) (MAC) is a Reit Retail company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 16, 2026, MAC traded at $22.96, a market capitalization of $6.8 billion.
Macerich Company (The) pays an annual dividend of $0.68 per share, a yield of 2.96%.
Return on equity was −7.34% and debt-to-equity 1.67.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.