Real Estate · Multi-Family Residential REITs · US stock · price as of 16 Oct 2026
Key indicators
Price
$116.63
52-week range
$112.44 – $140.87
Market cap
$13.6B
P/E (trailing)
35.0×
EV / EBITDA
11.0×
Free-cash-flow yield
7.6%
Dividend yield
5.2%
Revenue (last 12 months)
$2.2B
Revenue growth (3y a year)
3.0%
Operating margin
26.9%
Return on invested capital
9.8%
Net debt / EBITDA
–
Fair value
Fair value is not shown for this company.
X-Ray Score
52/ 100 · Low confidence · ahead of 59% of sector peers
Valuation69
Growth32
Profitability67
Financial health21
Dividends70
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Mid-America Apartment Communities is a real estate investment trust that owns and operates apartment complexes across the Sun Belt region of the United States. It earns income from monthly rents paid by residents, plus smaller fees for parking, pets and other services. The company also develops and acquires communities, and its results depend on occupancy, rent trends in its markets and the cost of property operations and financing.
Sales totalled $2.2 billion over the last twelve months, and the three-year record shows growth of 3.0% a year. The operating margin is 26.9%, and the return on invested capital is 10%. Shareholders receive a dividend, currently yielding 5.2%.
StocksXray gives Mid America Apartment Communities Inc. an X-Ray Score of 52 out of 100 (low confidence), ahead of 59% of the S&P 500 stocks in its sector. Its strongest lens is dividends (70) and its weakest is financial health (21).
XStocksXray
Mid America Apartment Communities Inc. (MAA)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$188.62
$132.51
$117.84
$141.35
$132.36
$116.63
Market cap
$21.7B
$15.3B
$13.7B
$16.5B
$15.5B
$13.6B
P/E
40.9×
24.2×
25.0×
31.5×
35.0×
35.0×
EV / revenue
12.2×
7.6×
6.4×
7.5×
7.0×
6.1×
EV / EBITDA
17.3×
11.4×
10.7×
12.7×
12.2×
11.0×
Price / free cash flow
24.2×
14.5×
12.1×
15.0×
14.4×
13.2×
Free-cash-flow yield
4.1%
6.9%
8.3%
6.7%
7.0%
7.6%
Price / book
3.6×
2.6×
2.3×
2.8×
2.7×
2.5×
Dividend yield
2.21%
3.76%
4.81%
4.19%
4.59%
5.25%
Fundamentals checklist ● 4 Good · ● 2 Average · ● 3 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−5.3%Good
Risk models
Piotroski F-Score4 of 9Bad
Growth
EPS growth (3y)−11.6%Bad
Revenue growth (3y)3.0%Bad
Growth consistency100%Good
Balance sheet
Interest cover3.1×Average
Valuation
EBIT / EV yield4.4%Good
Profitability
Return on invested capital9.8%Good
Operating margin26.9%Average
XStocksXray
Mid America Apartment Communities Inc. (MAA)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
1,778
2,020
2,148
2,191
2,209
2,214
Gross profit
–
–
–
–
–
–
Operating income
720
802
720
713
644
595
Net income
534
637
553
528
447
390
Diluted EPS ($)
4.61
5.48
4.71
4.49
3.78
3.33
Free cash flow
895
1,058
1,137
1,098
1,078
1,031
Gross margin
–
–
–
–
–
–
Operating margin
40.5%
39.7%
33.5%
32.6%
29.2%
26.9%
Net margin
30.0%
31.6%
25.7%
24.1%
20.2%
17.6%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
11,285
11,241
11,485
11,812
11,975
11,995
Cash
54
39
41
43
60
72
Total debt
–
–
–
–
–
–
Equity
5,965
6,005
6,094
5,942
5,663
5,541
Dividend per share ($)
4.16
4.99
5.67
5.93
6.08
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.