Mid-America Apartment Communities, Inc. (MAA) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 553.73M | 555.56M | 554.37M | 549.9M | 549.29M | 549.83M | 551.13M | 546.43M | 543.62M | 542.25M | 542.04M | 535.15M | 529.03M | 527.97M | 520.78M | 495.04M | 476.08M | 463.57M | 452.57M | 436.93M |
| Revenue Growth % | 0.81% | 1.04% | 0.59% | 0.63% | 1.04% | 1.4% | 1.68% | 2.11% | 2.76% | 2.71% | 4.08% | 8.1% | 11.12% | 13.89% | 15.07% | 13.3% | 12.02% | 9.42% | 6.94% | 5.79% |
| Property Operating Expenses | 77.96M | 355.19M | 390.9M | 385.69M | 374.28M | 373.36M | 375.55M | 368.02M | 360.82M | 350.14M | 362.22M | 349.4M | 339.23M | 336.44M | 344.56M | 331.45M | 319.69M | 317.8M | 321.28M | 314.34M |
| Net Operating Income (NOI) | 475.77M | 200.36M | 163.48M | 164.22M | 175.01M | 176.47M | 175.58M | 178.42M | 182.81M | 192.11M | 179.82M | 185.75M | 189.8M | 191.52M | 176.22M | 163.59M | 156.38M | 145.77M | 131.29M | 122.59M |
| NOI Margin % | 85.92% | 36.07% | 29.49% | 29.86% | 31.86% | 32.09% | 31.86% | 32.65% | 33.63% | 35.43% | 33.17% | 34.71% | 35.88% | 36.28% | 33.84% | 33.05% | 32.85% | 31.45% | 29.01% | 28.06% |
| Operating Expenses | 49.65M | 42.67M | 12.53M | 12.81M | 15.62M | 14.07M | 12.73M | 12.67M | 17.05M | 15.25M | 13.52M | 13.88M | 15.92M | 14.74M | 12.19M | 15.58M | 16.32M | 14.12M | 12.67M | 13.11M |
| G&A Expenses | 16.72M | 13.85M | 12.53M | 12.81M | 15.62M | 14.07M | 12.73M | 12.67M | 17.05M | 15.25M | 13.52M | 13.88M | 15.92M | 14.74M | 12.19M | 15.58M | 16.32M | 14.12M | 12.67M | 13.11M |
| EBITDA | 308.98M | 317.46M | 307.6M | 305.09M | 311.92M | 313.46M | 309.76M | 310.92M | 309.02M | 317.92M | 313.16M | 311.04M | 312.64M | 315.37M | 301.05M | 282.41M | 274.05M | 267.39M | 253.39M | 241.57M |
| EBITDA Margin % | 55.8% | 57.14% | 55.49% | 55.48% | 56.78% | 57.01% | 56.2% | 56.9% | 56.84% | 58.63% | 57.77% | 58.12% | 59.1% | 59.73% | 57.81% | 57.05% | 57.56% | 57.68% | 55.99% | 55.29% |
| Depreciation & Amortization | 161.87M | 159.77M | 156.65M | 153.69M | 152.52M | 151.06M | 146.91M | 145.18M | 143.26M | 141.06M | 146.86M | 139.18M | 138.76M | 138.59M | 137.02M | 134.4M | 133.99M | 135.74M | 134.77M | 132.09M |
| D&A / Revenue % | 29.23% | 28.76% | 28.26% | 27.95% | 27.77% | 27.47% | 26.66% | 26.57% | 26.35% | 26.01% | 27.09% | 26.01% | 26.23% | 26.25% | 26.31% | 27.15% | 28.14% | 29.28% | 29.78% | 30.23% |
| Operating Income | 147.11M | 157.69M | 150.95M | 151.4M | 159.4M | 162.4M | 162.85M | 165.75M | 165.76M | 176.86M | 166.29M | 171.87M | 173.88M | 176.78M | 164.03M | 148.01M | 140.06M | 131.65M | 118.63M | 109.48M |
| Operating Margin % | 26.57% | 28.38% | 27.23% | 27.53% | 29.02% | 29.54% | 29.55% | 30.33% | 30.49% | 32.62% | 30.68% | 32.12% | 32.87% | 33.48% | 31.5% | 29.9% | 29.42% | 28.4% | 26.21% | 25.06% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 3.57x | 3.24x | 3.24x | 3.46x | 5.14x | 4.90x | 3.77x | 3.55x | 4.69x | 5.29x | 4.09x | 5.14x | 4.76x | 6.20x | 4.21x | 6.48x | 3.86x | 6.07x | 3.28x | 6.80x |
| Non-Operating Income | -36.44M | 0 | 864K | -4.65M | -72.75M | -54.08M | 1.68M | 19.27M | -23.52M | -27.22M | 16.57M | -16.99M | -3.54M | -59.33M | 1.29M | -104M | -10.82M | -105.87M | -10.2M | -154.99M |
| Pretax Income | 131.87M | 58.43M | 103.81M | 110.94M | 186.98M | 172.28M | 118.45M | 105.21M | 148.92M | 165.5M | 113.08M | 152.14M | 140.13M | 198.03M | 124.11M | 213.1M | 111.76M | 198.41M | 89.59M | 225.59M |
| Pretax Margin % | 23.81% | 10.52% | 18.73% | 20.18% | 34.04% | 31.33% | 21.49% | 19.25% | 27.39% | 30.52% | 20.86% | 28.43% | 26.49% | 37.51% | 23.83% | 43.05% | 23.47% | 42.8% | 19.8% | 51.63% |
| Income Tax | -5.52M | 1.19M | 1.77M | 600K | 1.04M | 1.75M | 670K | 1.02M | 1.79M | 1.15M | -209K | 2.86M | 944K | -458K | -1.26M | -3.05M | -1.44M | 7.79M | 2.8M | 2.04M |
| Effective Tax Rate % | -4.19% | 2.04% | 1.7% | 0.54% | 0.56% | 1.02% | 0.57% | 0.97% | 1.21% | 0.69% | -0.18% | 1.88% | 0.67% | -0.23% | -1.01% | -1.43% | -1.29% | 3.93% | 3.13% | 0.91% |
| Net Income | 137.39M | 57.57M | 99.54M | 108.13M | 181.67M | 166.65M | 115.19M | 101.95M | 143.75M | 160.48M | 110.73M | 145.69M | 135.91M | 193.62M | 122.31M | 210.7M | 110.8M | 185.64M | 84.48M | 216.48M |
| Net Margin % | 24.81% | 10.36% | 17.96% | 19.66% | 33.07% | 30.31% | 20.9% | 18.66% | 26.44% | 29.59% | 20.43% | 27.22% | 25.69% | 36.67% | 23.49% | 42.56% | 23.27% | 40.05% | 18.67% | 49.55% |
| Net Income Growth % | -24.38% | -65.45% | -13.59% | 6.06% | 26.38% | 3.84% | 4.03% | -30.02% | 5.77% | -17.12% | -9.47% | -30.86% | 22.66% | 4.3% | 44.78% | -2.67% | 135.05% | 122.75% | 41.19% | 188.4% |
| Funds From Operations (FFO) | 299.26M | 217.34M | 256.19M | 261.81M | 334.19M | 317.71M | 262.1M | 247.13M | 287.01M | 301.54M | 257.6M | 284.86M | 274.67M | 332.21M | 259.33M | 345.11M | 244.79M | 321.38M | 219.25M | 348.57M |
| FFO Margin % | 54.04% | 39.12% | 46.21% | 47.61% | 60.84% | 57.78% | 47.56% | 45.23% | 52.8% | 55.61% | 47.52% | 53.23% | 51.92% | 62.92% | 49.8% | 69.71% | 51.42% | 69.33% | 48.44% | 79.78% |
| FFO Growth % | -10.45% | -31.59% | -2.26% | 5.94% | 16.44% | 5.36% | 1.75% | -13.25% | 4.49% | -9.23% | -0.67% | -17.46% | 12.21% | 3.37% | 18.29% | -0.99% | 36.78% | 50.82% | 16.83% | 72.12% |
| FFO per Share | 2.56 | 1.86 | 2.19 | 2.23 | 2.85 | 2.72 | 2.24 | 2.12 | 2.46 | 2.58 | 2.21 | 2.44 | 2.36 | 2.87 | 2.24 | 2.99 | 2.12 | 2.78 | 1.90 | 3.04 |
| FFO Payout Ratio % | 60.07% | 81.61% | 69.23% | 67.67% | 53% | 54.08% | 65.54% | 69.49% | 59.78% | 54.18% | 63.41% | 57.33% | 58.86% | 43.45% | 55.64% | 36.37% | 51.24% | 36.72% | 53.73% | 33.67% |
| EPS (Diluted) | 1.06 | 0.48 | 0.84 | 0.92 | 1.54 | 1.42 | 0.98 | 0.86 | 1.22 | 1.37 | 0.94 | 1.24 | 1.16 | 1.67 | 1.05 | 1.82 | 0.95 | 1.60 | 0.73 | 1.88 |
| EPS Growth % | -31.17% | -66.2% | -14.29% | 6.98% | 26.23% | 3.65% | 4.26% | -30.65% | 5.17% | -17.96% | -10.48% | -31.87% | 22.11% | 4.38% | 43.84% | -3.19% | 137.5% | 122.22% | 40.38% | 189.23% |
| EPS (Basic) | 1.06 | 0.48 | 0.84 | 0.92 | 1.55 | 1.42 | 0.98 | 0.86 | 1.22 | 1.37 | 0.94 | 1.24 | 1.16 | 1.67 | 1.05 | 1.82 | 0.95 | 1.60 | 0.73 | 1.88 |
| Diluted Shares Outstanding | 116.74M | 117.11M | 117.16M | 117.16M | 117.09M | 116.89M | 116.82M | 116.78M | 116.78M | 116.73M | 116.71M | 116.72M | 116.4M | 115.65M | 115.57M | 115.56M | 115.72M | 115.62M | 115.23M | 114.81M |