The Macerich Company (MAC) 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 | 242.75M | 263.03M | 253.26M | 249.79M | 249.22M | 273.68M | 220.22M | 215.52M | 208.78M | 238.69M | 218.15M | 212.37M | 214.85M | 228.22M | 210.7M | 204.09M | 216.14M | 229.4M | 212.14M | 215.47M |
| Revenue Growth % | -2.6% | -3.89% | 15% | 15.9% | 19.37% | 14.66% | 0.95% | 1.48% | -2.83% | 4.58% | 3.53% | 4.06% | -0.6% | -0.51% | -0.68% | -5.28% | 13.51% | 17.86% | 14.15% | 20.65% |
| Property Operating Expenses | 285.6M | 287.76M | 110.56M | 112.34M | 117.17M | 123.04M | 103.83M | 99.49M | 103.91M | 98.36M | 101.65M | 95.83M | 99.04M | 97.31M | 99.95M | 95.62M | 97.48M | 103.91M | 91.5M | 89.31M |
| Net Operating Income (NOI) | -42.85M | -24.74M | 142.7M | 137.45M | 132.06M | 150.64M | 116.39M | 116.03M | 104.88M | 140.32M | 116.5M | 116.54M | 115.81M | 130.92M | 110.75M | 108.47M | 118.67M | 125.49M | 120.64M | 126.16M |
| NOI Margin % | -17.65% | -9.41% | 56.35% | 55.03% | 52.99% | 55.04% | 52.85% | 53.84% | 50.23% | 58.79% | 53.41% | 54.87% | 53.9% | 57.36% | 52.56% | 53.15% | 54.9% | 54.7% | 56.87% | 58.55% |
| Operating Expenses | -73.84M | -74.59M | 97.83M | 96.3M | 100.17M | 88.95M | 79.31M | 78.67M | 75.99M | 77.31M | 76.67M | 79.19M | 78.43M | 80.64M | 79.52M | 78.9M | 79.72M | 87.33M | 83.06M | 84.31M |
| G&A Expenses | 0 | 9.2M | 6.93M | 7.8M | 7.61M | 7.5M | 6.01M | 7M | 7.64M | 7.55M | 5.91M | 8.8M | 6.98M | 7.08M | 6.78M | 6.44M | 6.86M | 7.69M | 7.6M | 6.68M |
| EBITDA | 114.07M | 134.97M | 138.86M | 132.35M | 127.1M | 143.14M | 110.38M | 111.77M | 100.26M | 135.67M | 114.24M | 111.65M | 112.41M | 126.62M | 106.61M | 104.66M | 114.62M | 121.12M | 116.42M | 123.64M |
| EBITDA Margin % | 46.99% | 51.32% | 54.83% | 52.98% | 51% | 52.3% | 50.12% | 51.86% | 48.02% | 56.84% | 52.37% | 52.57% | 52.32% | 55.48% | 50.6% | 51.28% | 53.03% | 52.8% | 54.88% | 57.38% |
| Depreciation & Amortization | 83.08M | 85.12M | 93.99M | 91.2M | 95.22M | 81.45M | 73.3M | 74.41M | 71.38M | 72.66M | 74.4M | 74.3M | 75.03M | 76.34M | 75.38M | 75.09M | 75.67M | 82.95M | 78.85M | 81.79M |
| D&A / Revenue % | 34.22% | 32.36% | 37.11% | 36.51% | 38.21% | 29.76% | 33.28% | 34.52% | 34.19% | 30.44% | 34.1% | 34.99% | 34.92% | 33.45% | 35.77% | 36.79% | 35.01% | 36.16% | 37.17% | 37.96% |
| Operating Income | 30.99M | 49.85M | 44.87M | 41.15M | 31.89M | 61.69M | 37.08M | 37.36M | 28.88M | 63.01M | 39.84M | 37.35M | 37.38M | 50.28M | 31.23M | 29.57M | 38.95M | 38.16M | 37.58M | 41.85M |
| Operating Margin % | 12.77% | 18.95% | 17.72% | 16.47% | 12.79% | 22.54% | 16.84% | 17.34% | 13.83% | 26.4% | 18.26% | 17.59% | 17.4% | 22.03% | 14.82% | 14.49% | 18.02% | 16.64% | 17.71% | 19.42% |
| Interest Expense | 1000K | 1000K | 0 | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 0.31x | 1.10x | - | 0.42x | 0.25x | - | 0.65x | 5.79x | -1.54x | -8.67x | 0.75x | 0.74x | -0.52x | 0.89x | 0.59x | 0.56x | 0.31x | 0.37x | 0.93x | 1.06x |
| Non-Operating Income | 9.87M | -32.96M | 0 | 10.96M | 14.79M | 0 | 0 | -283.86M | 109.36M | 283.25M | 0 | -3.32M | 58.03M | -2.44M | 0 | 0 | 22.64M | 22.14M | 0 | -16.11M |
| Pretax Income | -46.38M | 7.47M | -90.7M | -41.73M | -51.98M | -220.5M | -111.55M | 265.76M | -132.67M | 65.81M | -270.29M | -14.04M | -60.08M | 3.2M | -13.67M | -18.36M | -35.55M | -27.51M | 113.07M | 3.04M |
| Pretax Margin % | -19.1% | 2.84% | -35.81% | -16.71% | -20.85% | -80.57% | -50.65% | 123.31% | -63.54% | 27.57% | -123.9% | -6.61% | -27.96% | 1.4% | -6.49% | -8.99% | -16.45% | -11.99% | 53.3% | 1.41% |
| Income Tax | -2.64M | -473K | -710K | -188K | -822K | -879K | 545K | 258K | -1.22M | -655K | 1.67M | 371K | -1.88M | -258K | -166K | -670K | 1.8M | -2.5M | 107K | 7.11M |
| Effective Tax Rate % | 5.69% | -6.33% | 0.78% | 0.45% | 1.58% | 0.4% | -0.49% | 0.1% | 0.92% | -1% | -0.62% | -2.64% | 3.13% | -8.05% | 1.21% | 3.65% | -5.06% | 9.1% | 0.09% | 233.4% |
| Net Income | -36.35M | -18.76M | -87.36M | -40.91M | -50.12M | -211.21M | -108.19M | 252.01M | -126.73M | 62.18M | -262.55M | -14.96M | -58.73M | 1.69M | -15.19M | -15.38M | -37.18M | -17.07M | 106.7M | -11.77M |
| Net Margin % | -14.97% | -7.13% | -34.49% | -16.38% | -20.11% | -77.18% | -49.13% | 116.93% | -60.7% | 26.05% | -120.35% | -7.05% | -27.34% | 0.74% | -7.21% | -7.54% | -17.2% | -7.44% | 50.3% | -5.46% |
| Net Income Growth % | 27.48% | 91.12% | 19.25% | -116.23% | 60.45% | -439.68% | 58.79% | 1784.09% | -115.77% | 3581.41% | -1628.08% | 2.73% | -57.96% | 109.89% | -114.24% | -30.76% | 41.54% | 91.04% | 580.83% | 53.16% |
| Funds From Operations (FFO) | 46.73M | 66.36M | 6.63M | 50.29M | 45.1M | -129.76M | -34.89M | 326.41M | -55.35M | 134.84M | -188.15M | 59.34M | 16.3M | 78.03M | 60.18M | 59.7M | 38.49M | 65.88M | 185.55M | 70.03M |
| FFO Margin % | 19.25% | 25.23% | 2.62% | 20.13% | 18.09% | -47.41% | -15.84% | 151.45% | -26.51% | 56.49% | -86.25% | 27.94% | 7.59% | 34.19% | 28.56% | 29.25% | 17.81% | 28.72% | 87.47% | 32.5% |
| FFO Growth % | 3.61% | 151.14% | 119% | -84.59% | 181.48% | -196.23% | 81.46% | 450.1% | -439.5% | 72.8% | -412.62% | -0.61% | -57.65% | 18.44% | -67.56% | -14.74% | 123.68% | 159.43% | 216.86% | 23.27% |
| FFO per Share | 0.18 | 0.26 | 0.03 | 0.20 | 0.18 | -0.55 | -0.16 | 1.51 | -0.26 | 0.62 | -0.87 | 0.28 | 0.08 | 0.36 | 0.28 | 0.28 | 0.18 | 0.30 | 0.87 | 0.34 |
| FFO Payout Ratio % | 94.74% | 65.71% | 1450.89% | 85.49% | 111.83% | -31.77% | -114.18% | 11.25% | -70.83% | 29.04% | -20.72% | 61.7% | 256.48% | 50.66% | 116.45% | 59.29% | 107.33% | 59.09% | 19.39% | 59.79% |
| EPS (Diluted) | -0.14 | -0.07 | -0.34 | -0.16 | -0.20 | -0.89 | -0.50 | 1.16 | -0.59 | 0.29 | -1.22 | -0.07 | -0.27 | 0.01 | -0.07 | -0.07 | -0.17 | -0.08 | 0.50 | -0.06 |
| EPS Growth % | 30% | 92.13% | 32% | -113.79% | 66.1% | -406.9% | 59.02% | 1757.14% | -118.52% | 2800% | -1642.86% | 0% | -58.82% | 112.5% | -114% | -16.67% | 57.5% | 93.7% | 433.33% | 66.67% |
| EPS (Basic) | -0.14 | -0.07 | -0.34 | -0.16 | -0.20 | -0.89 | -0.50 | 1.16 | -0.59 | 0.29 | -1.22 | -0.07 | -0.27 | 0.01 | -0.07 | -0.07 | -0.17 | -0.08 | 0.50 | -0.06 |
| Diluted Shares Outstanding | 258.03M | 256.62M | 254.13M | 253.09M | 252.99M | 236.62M | 218.42M | 216.18M | 216.04M | 215.81M | 215.63M | 215.46M | 215.29M | 215.18M | 215.13M | 214.99M | 214.82M | 223.16M | 213.21M | 205.76M |