Macerich Co (MAC)
The Macerich Company is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns approximately 40 million square feet of real estate, consisting primarily of interests in 38 retail centers. The Macerich Company was incorporated in 1964 in Maryland and is based in Santa Monica, California.
- Symbol
- MAC
- Exchange
- NYSE
- Sector
- Real Estate
- Industry
- REIT - Retail
- Market cap
- $6.48B
- 52 week range
- 16.03 - 26.68
Valuation
- Share price
- $22.67 (close of 2026-09-23)
- P/E (TTM)
- -34.55x
- Price to book
- 2.23x
- Price to free cash flow
- 21.11x
- Enterprise value
- $11.16B
- Book value per share
- $10.23
Price performance
| Period | Change |
|---|
| 1 day | +0.40% |
| 5 days | +1.30% |
| 1 month | -7.01% |
| 3 months | -7.05% |
| 6 months | +22.67% |
| Year to date | +22.81% |
| 1 year | +32.42% |
| 3 years | +100.27% |
| 5 years | +24.56% |
| 10 years | -72.63% |
| All time | +25.60% |
Profitability and growth
- Return on equity
- -7.80%
- Return on assets
- -2.36%
- Net margin
- -19.44%
- EBITDA margin
- 16.64%
- Revenue growth
- 10.43%
- Net income growth
- -1.56%
- Free cash flow growth
- 13.46%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 4.74%
- Net debt to EBITDA
- 10.85x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $1.01B
- EBITDA
- $168.76M
- Net income
- $-197.15M
- Earnings per share
- $-0.78
- Shares outstanding
- 254.22M
Income statement by year
| Period end | Revenue | Net income | EPS |
|---|
| 2025-12-31 | $1.01B | $-197.15M | $-0.78 |
| 2024-12-31 | $918.20M | $-194.12M | $-0.88 |
| 2023-12-31 | $884.07M | $-274.06M | $-1.28 |
| 2022-12-31 | $859.16M | $-66.07M | $-0.31 |
| 2021-12-31 | $847.44M | $14.26M | $0.07 |
| 2020-12-31 | $786.03M | $-230.20M | $-1.58 |
| 2019-12-31 | $927.46M | $96.82M | $0.68 |
| 2018-12-31 | $960.35M | $68.97M | $0.42 |
| 2017-12-31 | $993.66M | $161.67M | $1.02 |
| 2016-12-31 | $1.04B | $554.84M | $3.52 |
Margins and returns by year
| Period end | Net margin | Return on equity |
|---|
| 2025-12-31 | -19.44% | -7.80% |
| 2024-12-31 | -21.14% | -6.83% |
| 2023-12-31 | -31.00% | -10.84% |
| 2022-12-31 | -7.69% | -2.24% |
| 2021-12-31 | 1.68% | 0.45% |
| 2020-12-31 | -29.29% | -9.41% |
| 2019-12-31 | 10.44% | 3.42% |
| 2018-12-31 | 7.18% | 2.16% |
| 2017-12-31 | 16.27% | 4.07% |
| 2016-12-31 | 53.28% | 12.53% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $280.25M | $5.07B |
| 2024-12-31 | $89.86M | $4.89B |
| 2023-12-31 | $94.94M | $4.14B |
| 2022-12-31 | $100.32M | $4.24B |
| 2021-12-31 | $112.45M | $4.42B |
| 2020-12-31 | $465.30M | $4.56B |
| 2019-12-31 | $100.00M | - |
| 2018-12-31 | $102.71M | - |
| 2017-12-31 | $91.04M | - |
| 2016-12-31 | $94.05M | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $321.60M | $18.17M |
| 2024-12-31 | $283.44M | $12.13M |
| 2023-12-31 | $295.50M | $13.17M |
| 2022-12-31 | $337.51M | $17.64M |
| 2021-12-31 | $286.37M | $14.27M |
| 2020-12-31 | $124.84M | $13.84M |
| 2019-12-31 | $355.16M | $12.03M |
| 2018-12-31 | $344.31M | $27.37M |
| 2017-12-31 | $386.39M | $30.80M |
| 2016-12-31 | $429.53M | $33.29M |
Dividend history
- Most recent payment
- 2026-09-14
- Paid in the last twelve months
- $0.68
| Payment date | Dividend per share |
|---|
| 2026-09-14 | $0.17 |
| 2026-06-15 | $0.17 |
| 2026-03-16 | $0.17 |
| 2025-12-15 | $0.17 |
| 2025-09-09 | $0.17 |
| 2025-06-03 | $0.17 |
| 2025-03-04 | $0.17 |
| 2024-11-12 | $0.17 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-03
- Consensus EPS estimate
- $0.37
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-04 | Jun/2026 | $0.33 |
| 2026-05-06 | - | - |
| 2026-02-18 | - | - |
| 2025-11-04 | - | - |
| 2025-08-11 | - | - |
| 2025-05-12 | - | - |
| 2025-02-27 | - | - |
| 2024-11-06 | - | - |
Filings and sources
- Company website
- macerich.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
Similar companies
Simon Property Group Inc. (SPG) · Realty Income Corp (O) · Kimco Realty Corp (KIM) · Regency Centers Corp (REG) · CoStar Group, Inc. (CSGP) · VICI Properties Inc. (VICI) · Welltower Inc. (WELL) · Ventas, Inc. (VTR)
All Real Estate companies
Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
Explore
Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades