FirmAtlas
Company handbook · MAA · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
MAA · CIK 912595 · LATEST FILING: 10-Q JUN '26 · FILED JUL 30, 2026
MID-AMERICA APARTMENT COMMUNITIES, INC.
$116.63
+0.36 (+0.31%)
Close, Oct 16, 2026 · 52-week $114–144
Last fiscal year
MID-AMERICA APARTMENT COMMUNITIES, INC. reported revenue of $2.2B for the year ended Dec 31, 2025 (FY25), up 0.8% from FY24. Net income was $447M, operating cash flow $1.1B and free cash flow $718M. Source: 10-K filed Feb 6, 2026.
Market cap
$13.6B
P/E
35.0
P/B
2.5
Div yield
5.25%
Revenue 1Y
0.8%/yr
EPS 1Y
−15.8%/yr
Shares 1Y
−0.0%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOA. Brad Hill
HQGermantown, TN
AuditorErnst & Young LLP
Employees2,507
Year endsDecember
Revenue by segment · FY25
Same Store94%
Non Same Store And Other6%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
2.7%
−10.0%
−4.2%
−11.3%
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Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$2.1B deployed
Capex
$683M
32.4%
Dividends
$1.4B
66.3%
Buybacks
$27M
1.3%
Operating cash flow over the period: $2.2B. Total debt changed by $0M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
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Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (2-for-1 split after FY13).
TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Balance sheet
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,098
1,078−1.8%
1,031
Net income
542
457−15.7%
—
Depreciation & amortization
586
623+6.2%
—
Stock-based compensation
16
17+6.7%
—
Working capital & other
(45)
(18)n/m
—
Cash from investing
(825)
(690)n/m
—
Capex
(322)
(360)n/m
—
Other investing
(503)
(330)n/m
—
Cash from financing
(271)
(371)n/m
—
Dividends
(687)
(709)n/m
—
Buybacks
0
(27)n/m
—
Shares issued
1
1+18.0%
—
Other financing
415
364−12.2%
—
Net change in cash
2
17+930.8%
—
Free cash flow (OCF − capex)
776
718−7.5%
685
Where the cash went
Operating cash flow
1,098
1,078−1.8%
1,031
Reinvested in the business
322
360+11.7%
—
% of operating cash flow
29.4%
33.4%
Capex
322
360+11.7%
346
Free cash flow
776
718−7.5%
685
YoY
−7.5%
Returned to shareholders
687
736+7.2%
—
% of free cash flow
88.5%
102.6%
Dividends
687
709+3.2%
—
Buybacks
0
27n/m
—
FCF conversion (FCF ÷ net income)
147.1%
160.6%+13.6 pp
—
Buyback yield
—
0.2%
—
Income
Jun '25
Sep '25
Dec '25
Mar '26
Revenue
550
554
556
554
vs year-ago quarter
Net income
108
100
58
124
vs year-ago quarter
Net margin
19.7%
18.0%
10.4%
22.5%
EPS (diluted, $)
0.92
0.84
0.49
1.06
vs year-ago quarter
Balance sheet
Jun '25
Sep '25
Dec '25
Mar '26
Total assets
11,836
11,927
11,975
11,995
Cash & equivalents
68
46
74
85
Shareholders’ equity
5,891
5,818
5,663
5,541
Cash flow
Jun '25
Sep '25
Dec '25
Mar '26
Operating cash flow
353
266
262
150
Capex
89
96
103
58
Free cash flow
265
171
159
91
vs year-ago quarter