Mid-America Apartment Communities, Inc. (MAA) Stock Analysis
Real Estate · REIT - Residential · NYSE
Mid-America Apartment Communities, Inc. (MAA) posted $2.21B in revenue for fiscal 2025 (up 0.8% year over year), at a 20.1% net margin, and has compounded revenue about 5.7%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Mid-America Apartment Communities, Inc.
Mid-America Apartment Communities, Inc. has grown revenue from $497.17M to $2.21B over the last 10 fiscal years, compounding about 5.7% a year. The most recent year was up 0.8%, so growth has cooled from its longer-run pace.
Net margin sits at 20.1%, down 3.8 points year over year.
At today's valuation the market is pricing in roughly 9% annual free-cash-flow growth — versus the 3.7% it actually delivered over the last five years, so the price already assumes a step-up from the recent record. The one thing worth a second look in the filings is net margin shrinking.
Synthesised from Mid-America Apartment Communities, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Mid-America Apartment Communities, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2012 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $497.17M | $1.53B | $1.57B | $1.64B | $1.68B | $1.78B | $2.02B | $2.15B | $2.19B | $2.21B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $105.22M | $328.38M | $222.90M | $353.81M | $254.96M | $533.79M | $633.75M | $549.12M | $523.86M | $443.22M |
| Net margin | 21.2% | 21.5% | 14.2% | 21.6% | 15.2% | 30.0% | 31.4% | 25.6% | 23.9% | 20.1% |
Source: Mid-America Apartment Communities, Inc. SEC filings (10-K). 14 years of history available in the interactive view.
Mid-America Apartment Communities, Inc.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Net margin shrinkingNet margin fell from 31.4% to 20.1% over ~3 years — profitability is compressing.
What growth is priced into MAA stock?
At today's market cap of $15.79B, Mid-America Apartment Communities, Inc. is priced for free-cash-flow growth of about 9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $717.94M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 3.7%/yr over the last five fiscal years and revenue 5.7%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 14 years of Mid-America Apartment Communities, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Mid-America Apartment Communities, Inc. financial history by metric
Compare Mid-America Apartment Communities, Inc. with peers
About Mid-America Apartment Communities, Inc.
Mid-America Apartment Communities, Inc. an S&P 500 company, 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 June 30, 2026, MAA had ownership interest in 104,698 apartment units, including communities in development, across 16 states and the District of Columbia. id-America Apartment Communities, Inc. was incorporated in 1977 in Tennessee and is based in Germantown, Tennessee.
Mid-America Apartment Communities, Inc. — frequently asked questions
What is Mid-America Apartment Communities, Inc.'s revenue?
Mid-America Apartment Communities, Inc. (MAA) reported revenue of $2.21B for fiscal year 2025, up 0.8% from the prior year, according to its SEC filings.
Is Mid-America Apartment Communities, Inc. profitable?
Yes. MAA earned net income of $443.22M in fiscal 2025, a net margin of 20.1%.
What is MAA's P/E ratio?
Mid-America Apartment Communities, Inc. trades at a price-to-earnings ratio of about 38.8 based on the latest data in our nightly-refreshed cache.
How fast is Mid-America Apartment Communities, Inc. growing?
MAA's revenue grew at roughly 5.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Mid-America Apartment Communities, Inc. have?
As of fiscal year 2025, MAA carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Mid-America Apartment Communities, Inc.'s market cap?
Mid-America Apartment Communities, Inc. (MAA) has a market capitalization of about $15.79B, based on the latest data in our nightly-refreshed cache.
When does Mid-America Apartment Communities, Inc.'s fiscal year end?
MAA's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into MAA stock?
At today's market cap of $15.79B, Mid-America Apartment Communities, Inc. is priced for free-cash-flow growth of about 9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $717.94M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 3.7%/yr over the last five fiscal years and revenue 5.7%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Mid-America Apartment Communities, Inc.'s official SEC filings (10-K and 10-Q), covering 14 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.