14 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 5.7% per year over the past 5 years.
Net income has grown faster than revenue (11.9% vs 5.7% per year).
Shareholder returns
Dividends have been paid for 14 consecutive years, consuming 158.7% of earnings.
The dividend has grown 9.2% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$2.2B
$447M
0.0%
0.0%
—
—
$60M
2024
$2.2B
$528M
0.0%
0.0%
—
—
$43M
2023
$2.1B
$553M
0.0%
0.0%
—
—
$41M
2022
$2.0B
$637M
0.0%
0.0%
—
—
$39M
2021
$1.8B
$534M
0.0%
0.0%
—
—
$54M
2020
$1.7B
$255M
0.0%
0.0%
—
—
$25M
2019
$1.6B
$354M
0.0%
0.0%
—
—
$20M
2018
$1.6B
$223M
0.0%
0.0%
—
—
$34M
2017
$1.5B
$328M
0.0%
0.0%
—
—
$11M
2012
$447M
$99M
0.0%
29.2%
—
—
$9M
2011
$386M
$47M
0.0%
24.7%
—
—
$57M
2010
$402M
$30M
0.0%
22.5%
—
—
$46M
2009
$379M
$37M
0.0%
24.7%
—
—
$14M
2008
$370M
$30M
0.0%
25.9%
—
—
$9M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$554M
$124M
0.0%
0.0%
—
—
$72M
Dec '25
$556M
$58M
0.0%
0.0%
—
—
$60M
Sep '25
$554M
$100M
0.0%
0.0%
—
—
$32M
Jun '25
$550M
$108M
0.0%
0.0%
—
—
$54M
Mar '25
$549M
$182M
0.0%
0.0%
—
—
$56M
Dec '24
$550M
$167M
0.0%
0.0%
—
—
$43M
Sep '24
$551M
$115M
0.0%
0.0%
—
—
$50M
Jun '24
$546M
$102M
0.0%
0.0%
—
—
$63M
Mar '24
$544M
$144M
0.0%
0.0%
—
—
$55M
Dec '23
$542M
$160M
0.0%
0.0%
—
—
$41M
Sep '23
$542M
$111M
0.0%
0.0%
—
—
$162M
Jun '23
$535M
$146M
0.0%
0.0%
—
—
$150M
Mar '23
$529M
$136M
0.0%
0.0%
—
—
$142M
Dec '22
$528M
$194M
0.0%
0.0%
—
—
$39M
Sep '22
$521M
$122M
0.0%
0.0%
—
—
$39M
Jun '22
$495M
$211M
0.0%
0.0%
—
—
$61M
Mar '22
$476M
$111M
0.0%
0.0%
—
—
$60M
Dec '21
$464M
$186M
0.0%
0.0%
—
—
$54M
Sep '21
$453M
$84M
0.0%
0.0%
—
—
$30M
Jun '21
$437M
$216M
0.0%
0.0%
—
—
$32M
Valuation over time
How the market has priced MAA against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 27.6× (Mar '23) to 36.0× (Jun '26).
The price-to-sales ratio has fallen from 8.7× (Mar '23) to 7.3× (Jun '26).
The dividend yield has risen from 3.1% (Mar '23) to 4.4% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is MAA growing its revenue and profit?
Over the past 5 years, Mid-America Apartment Communities's revenue has grown 5.7% per year, and net income grown 11.9% per year. These are computed facts, not advice.
How much debt does MAA have?
As of FY2025, Mid-America Apartment Communities reported — of total debt against $60M of cash.
What is MAA's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin 20.2%.
What is MAA's P/E ratio?
As of Jun '26, Mid-America Apartment Communities traded at a price-to-earnings ratio of about 36.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.