Brixmor Property Group Inc. (BRX) vs Macerich Company (The) (MAC)

Brixmor Property Group Inc. and Macerich Company (The) are both Reit Retail companies. Brixmor Property Group Inc. is the larger, with a market value of $8.5B against $6.7B — 1.3× the size. Macerich Company (The) has negative trailing earnings, so its P/E is not meaningful; Brixmor Property Group Inc. trades at 19.8×. Brixmor Property Group Inc. grew revenue faster over the last twelve months: 5.84% against 1.34%. Brixmor Property Group Inc. has the higher net margin (30.8% vs −16.9%) and the higher return on invested capital (3.81% vs 1.38%). Both pay a dividend; Brixmor Property Group Inc. yields more (4.59% vs 4.07%). Across the 21 metrics below, Brixmor Property Group Inc. leads on 18 and Macerich Company (The) on 3.

Valuation

Metric BRX MAC Reit Retail median
P/E 19.77 n/m 24.82
P/S 6.14 6.16 6.69
P/B 2.85 2.13 1.75
Price to free cash flow 32.54 n/m 13.29
EV/EBITDA 15.19 19.02 15.42
EV/Sales 9.79 10.67 10.60
Earnings yield 5.06% (2.87%) 3.91%
Free cash flow yield 3.07% (1.63%) 2.98%

Profitability

Metric BRX MAC Reit Retail median
Gross margin 75.15% 53.96% 71.78%
Operating margin 35.30% 16.30% 34.62%
Net margin 30.82% (16.85%) 27.14%
Free cash flow margin 18.88% (10.04%) 18.82%
Return on equity 14.48% (6.09%) 7.05%
Return on assets 4.91% (1.97%) 3.40%
Return on invested capital 3.81% 1.38% 3.18%

Growth

Metric BRX MAC Reit Retail median
Revenue growth (TTM) 5.84% 1.34% 8.49%
EPS growth (last fiscal year) 12.61% 11.36% —
Revenue growth, 5-year CAGR 5.42% 5.22% 8.62%
Net income growth, 5-year CAGR 26.18% 0.00% 1.85%

Health

Metric BRX MAC Reit Retail median
Debt to equity 1.76 1.67 0.94
Current ratio 0.82 0.88 1.62
Net debt to EBITDA 5.77 8.03 5.40

Dividend

Metric BRX MAC Reit Retail median
Dividend yield 4.59% 4.07% 4.57%
Payout ratio 0.87 2.50 1.21

Size

Metric BRX MAC Reit Retail median
Market cap 8.51b 6.68b 3.65b

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