ES
MARKETS / NYSE / MAA
NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Mid-america Apartment Communities, Inc. MAA

14 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY8 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$2.2B
▲ 0.8% vs FY2024
Dividend streak
8 yrs
Raised every year since 2018
EPS · FY25
$3.78
Dividend / sh · FY25
$6.08
Payout · FY25
159%
ROE · FY25
7.7%
Net margin · FY25
20.2%
Dividend coverage
0.6×
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Result
USD 2.2B
Revenue, FY2025 · full 14-year series below
Revenue Net income
0.81.62.42.20.4200820112018202120242025
0.81.62.42.20.42017202020232025

20 cents of every revenue dollar became profit this year.

Per share
USD 3.78
Diluted EPS, FY2025
EPS Dividend
2.557.56.083.78200820112018202120242025
2.557.56.083.782017202020232025

Earnings covered only a fraction of the dividend — the rest came from cash or borrowing.

Profitability
7.7%
Return on equity, FY2025
ROE
4812167.7%200820112018202120242025
4812167.7%2017202020232025
Operating margin—
Net margin20.2%
Return on assets3.8%

Each USD of equity produced 8 cents of profit this year.

Returned to shareholders
USD 734.8M
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 709.0M
Net buybacksUSD 25.8M
Share of profit164.4%
Consecutive raises8 years

USD 709.0M in dividends and USD 25.8M in buybacks — 164% of the year's profit, so the payout drew on cash built up earlier.

Growth
+5.7% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+3.0%
+5.7%
+12.4%
Net income
−11.2%
+11.9%
+19.8%
EPS, diluted
−11.6%
+11.5%
Dividend / share
+6.8%
+8.6%
Returned to shareholders
+10.8%
+9.9%
+16.2%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.12B
Shares outstanding, FY2025
0.030.12200820112018202120242025
0.110.122017202020232025
Change, 5 years+2.2%
Change, 10 years—

The share count grew 2% in five years — the same company, cut into more, smaller slices.

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Balance sheet
USD 12.0B
total assets, end of FY2025
Total assetsUSD 12.0B
EquityUSD 5.7B
CashUSD 60.3M
Gross debtUSD 5.4B
Net debtUSD 5.3B

Net debt stands at 94% of equity.

History
14 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2012
2011
2010
2009
2008
Revenue $B
2.2
2.2
2.1
2.0
1.8
1.7
1.6
1.6
1.5
0.5
0.4
0.4
0.4
0.4
Operating income $B
·
·
·
·
·
·
·
·
·
0.1
0.1
0.1
0.1
0.1
EBITDA $B
·
·
·
·
·
·
·
·
·
0.3
0.2
0.2
0.2
0.2
Income tax $B
0.0
0.0
0.0
−0.0
0.0
0.0
0.0
0.0
0.0
·
·
·
·
·
Net income $B
0.4
0.5
0.6
0.6
0.5
0.3
0.4
0.2
0.3
0.1
0.0
0.0
0.0
0.0
EPS, diluted $
3.78
4.49
4.71
5.48
4.61
2.19
3.07
1.93
2.86
2.56
1.31
0.56
0.85
0.64
Dividend / sh $
6.08
5.92
5.67
4.99
4.16
4.03
3.88
3.73
3.53
2.67
2.54
2.47
2.46
2.46
Payout %
159
130
118
85
88
179
124
188
120
102
189
259
187
218
ROE %
7.7
8.8
9.1
10.7
9.0
4.3
5.8
3.6
·
12.9
7.9
6.3
8.6
·
Shares out B
0.12
0.12
0.12
0.12
0.12
0.11
0.11
0.11
0.11
0.04
0.04
0.03
0.03
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
26 of 26
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed