MAC vs CBL

For growth investors, CBL & Associates Properties, Inc.

(CBL) is the stronger pick with 12. 2% revenue growth year-over-year, versus 10. 6% for The Macerich Company (MAC). CBL & Associates Properties, Inc. (CBL) offers the better valuation at 10. 2x trailing P/E (48. 0x forward), making it the more compelling value choice. Analysts rate The Macerich Company (MAC) a "Hold" — based on 34 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

Over the past 5 years, The Macerich Company (MAC) delivered a total return of +89.

4%, compared to +79. 1% for CBL & Associates Properties, Inc. (CBL). Over 10 years, the gap is even starker: CBL returned +79. 0% versus MAC's -53. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), CBL & Associates Properties, Inc.

(CBL) is the lower-risk stock at 0. 68β versus The Macerich Company's 1. 29β — meaning MAC is approximately 90% more volatile than CBL relative to the S&P 500. On balance sheet safety, The Macerich Company (MAC) carries a lower debt/equity ratio of 2% versus 6% for CBL & Associates Properties, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), CBL & Associates Properties, Inc.

(CBL) is pulling ahead at 12. 2% versus 10. 6% for The Macerich Company (MAC). On earnings-per-share growth, the picture is similar: CBL & Associates Properties, Inc. grew EPS 132. 1% year-over-year, compared to 1. 3% for The Macerich Company. Over a 3-year CAGR, MAC leads at 5. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

CBL & Associates Properties, Inc.

(CBL) is the more profitable company, earning 23. 5% net margin versus -19. 4% for The Macerich Company — meaning it keeps 23. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CBL leads at 24. 2% versus 16. 5% for MAC. At the gross margin level — before operating expenses — MAC leads at 38. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

All stocks in this comparison pay dividends.

CBL & Associates Properties, Inc. (CBL) offers the highest yield at 5. 7%, versus 3. 0% for The Macerich Company (MAC).

For long-horizon retirement investors, CBL & Associates Properties, Inc.

(CBL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 68), 5. 7% yield). Both have compounded well over 10 years (CBL: +79. 0%, MAC: -53. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: MAC is a small-cap income-oriented stock; CBL is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.