The company maintains a conservative financial profile, evidenced by a stable debt-to-equity ratio of 0.60 as of 2026Q3, which effectively limits interest rate sensitivity.
| Metric | TTM | Jul'25 | Jul'24 | Jul'23 | Jul'22 | Jul'21 | Jul'20 | Jul'19 | Jul'18 | Jul'17 | Jul'16 | Jul'15 | Jul'14 | Jul'13 | Jul'12 | Jul'11 | Jul'10 | Jul'09 | Jul'08 | Jul'07 | Jul'06 | Jul'05 | Jul'04 | Jul'03 | Jul'02 | Jul'01 | Jul'00 | Jul'99 | Jul'98 | Jul'97 | Jul'96 |
|---|
| Total Current Assets | 7.09M | 5.72M | 5.87M | 7.56M | 7.6M | 11.14M | 12.76M | 10.45M | 10.71M | 10.06M | 9.15M | 11.97M | 7.95M | 6.01M | 3.88M | 5.51M | 4.26M | 3.56M | 3.86M | 7.99M | 4.33M | 2.67M | 2.76M | 4.25M | 5.18M | 2.86M | 3.01M | 3M | 2.7M | 4.7M | 4.8M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | 3.14M | 1.76M | 1.24M | 1.22M | 1.02M | 1.55M | 3.26M | 4.12M | 5.26M | 5.38M | 5.23M | 4.09M | 1.89M | 664.72K | 1.34M | 2.66M | 1.55M | 653.72K | 1.48M | 5.97M | 2.34M | 522.9K | 603.29K | 1.86M | 2.95M | 1M | 1.53M | 1.5M | 1M | 200K | 400K |
| Short-Term Investments | 0 | 0 | 0 | 2.3M | 2.76M | 3.9M | 3.74M | 3.58M | 3.14M | 2.82M | 2.06M | 1.46M | 1.35M | 2.46M | 443.42K | 747.8K | 351.27K | 49.89K | 49.1K | 47.42K | 45.94K | 45.67K | 45.4K | 45.11K | 44.65K | 43.74K | 41.69K | 0 | 0 | 0 | 0 |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.68M | 0 | 1.68M | 0 | 5.01M | 0 | 2M | 0 | 0 | 0 | 2.33M | 2.15M | 1.83M | 1.85M | 1.66M | 1.61M | 1.68M | 1.54M | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | 314.44 | - | 59.86 | - | 189.3 | - | 82.64 | - | - | - | 92.37 | 88.45 | 77.89 | 86.11 | 82.57 | 76.22 | 88.62 | 93.18 | - | - | - | - | - | - |
| Other Current Assets | 0 | -5.72M | 1.04M | 1M | -1.58M | 882.33K | 1.14M | 1.15M | 100.79K | 15.9K | 0 | 0 | 1.56M | 676K | 599K | 331K | 285K | 617.11K | 333.67K | 145.9K | 139.3K | 405.61K | 397.03K | 347.22K | 204.51K | 112K | 1.22M | 1.1M | 1.2M | 3.9M | 4.1M |
| Total Non-Current Assets | 83.13M | 92.76M | 83.66M | 84.35M | 86.41M | 86.37M | 87.66M | 58.34M | 55.85M | 54.79M | 54.39M | 54.46M | 53.22M | 50.68M | 51.51M | 50.83M | 50.98M | 52.14M | 53.42M | 52.17M | 52.96M | 54.51M | 49.05M | 44.09M | 43.08M | 42.72M | 39.48M | 38.7M | 38.7M | 35.7M | 33M |
| Property, Plant & Equipment | 78.23M | 75.52M | 28.87M | 30.91M | 32.11M | 34.57M | 37.08M | 53.13M | 50.79M | 49.49M | 49.06M | 48.19M | 47.46M | 45.63M | 44.26M | 44.69M | 44.54M | 45.04M | 45.42M | 44.97M | 45.79M | 44.64M | 40.15M | 33.48M | 32.37M | 31.76M | 29.55M | 28.8M | 28.2M | 28.1M | 26.1M |
| Fixed Asset Turnover | 0.33x | 0.30x | 0.75x | 0.73x | 0.67x | 0.58x | 0.53x | 0.39x | 0.38x | 0.40x | 0.38x | 0.39x | 0.36x | 0.35x | 0.37x | 0.33x | 0.33x | 0.37x | 0.32x | 0.40x | 0.30x | 0.29x | 0.35x | 0.39x | 0.40x | 0.37x | 0.37x | 0.37x | 0.42x | 0.36x | 0.36x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 90.22M | 98.47M | 89.53M | 91.92M | 94.01M | 97.51M | 100.42M | 68.79M | 66.56M | 64.85M | 63.55M | 66.44M | 61.18M | 56.69M | 55.38M | 56.34M | 55.25M | 55.71M | 57.28M | 60.16M | 57.29M | 57.18M | 51.81M | 48.35M | 48.27M | 45.58M | 42.48M | 41.7M | 41.4M | 40.4M | 37.8M |
| Asset Turnover | 0.23x | 0.23x | 0.24x | 0.25x | 0.23x | 0.21x | 0.19x | 0.30x | 0.29x | 0.30x | 0.29x | 0.28x | 0.28x | 0.28x | 0.30x | 0.26x | 0.27x | 0.30x | 0.26x | 0.30x | 0.24x | 0.23x | 0.27x | 0.27x | 0.27x | 0.26x | 0.26x | 0.26x | 0.29x | 0.25x | 0.25x |
| Asset Growth % | 12.98% | 10% | -2.6% | -2.23% | -3.59% | -2.9% | 45.98% | 3.35% | 2.64% | 2.05% | -4.35% | 8.6% | 7.91% | 2.36% | -1.7% | 1.98% | -0.83% | -2.75% | -4.79% | 5.01% | 0.2% | 10.36% | 7.16% | 0.17% | 5.9% | 7.28% | 1.88% | 0.72% | 2.48% | 6.88% | 4.71% |
| Total Current Liabilities | 2.36M | 6.22M | 3.35M | 2.72M | 3.37M | 3.47M | 3.58M | 8.64M | 3.7M | 3.8M | 5.29M | 4.74M | 4.48M | 3.1M | 2.03M | 5.15M | 2.97M | 3.12M | 4.01M | 4.58M | 4.48M | 2.29M | 3.17M | 3.68M | 2.34M | 1.93M | 1.99M | 1.9M | 1.6M | 2.8M | 2.6M |
| Accounts Payable | 3M | 0 | 2.27M | 1.72M | 2.32M | 2.63M | 2.77M | 39.81K | 74.2K | 79.1K | 80.34K | 39.76K | 144.25K | 57.67K | 85.08K | 142.59K | 95.05K | 91.4K | 39.36K | 89.62K | 61.91K | 65.54K | 87.58K | 46.83K | 55.6K | 29.32K | 43.66K | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | 41.9 | - | 54.73 | 40.77 | 57.8 | 67.17 | 72.13 | 1.29 | 2.45 | 2.83 | 2.91 | 1.5 | 5.47 | 2.39 | 3.86 | 6.64 | 4.57 | 3.62 | 1.62 | 3.81 | 2.88 | 3.27 | 4.14 | 2.47 | 3.37 | 1.82 | 3 | - | - | - | - |
| Short-Term Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | -4.15M | 3.98M | 0 | 0 | 0 | 0 | -2.7M | -989.25K | -2.24M | -2.14M | -22.88K | -2.14M | -2.96M | -1.07M | -743.89K | 0 | -346.59K | 0 | 118.51K | 1.48M | 799.96K | 1.14M | 2.37M | 1.11M | 1.56M | 203.63K | 782.44K | 400K | 700K | 1.9M | 2.1M |
| Current Ratio | 3.00x | 0.92x | 1.75x | 2.78x | 2.25x | 3.21x | 3.56x | 1.21x | 2.90x | 2.65x | 1.73x | 2.53x | 1.78x | 1.94x | 1.91x | 1.07x | 1.44x | 1.14x | 0.96x | 1.74x | 0.97x | 1.17x | 0.87x | 1.16x | 2.21x | 1.49x | 1.51x | 1.58x | 1.69x | 1.68x | 1.85x |
| Quick Ratio | 3.00x | 0.92x | 1.75x | 2.78x | 2.25x | 3.21x | 3.56x | 0.09x | 2.90x | 2.21x | 1.73x | 1.47x | 1.78x | 1.29x | 1.91x | 1.07x | 1.44x | 0.39x | 0.43x | 1.34x | 0.55x | 0.44x | 0.36x | 0.70x | 1.56x | 1.49x | 1.51x | 1.58x | 1.69x | 1.68x | 1.85x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 36.16M | 43.31M | 33.28M | 35.89M | 37.25M | 39.94M | 43.14M | 5.54M | 9.77M | 11.05M | 10.28M | 15.31M | 12.59M | 10.17M | 10.65M | 9.76M | 11.46M | 12.3M | 13.82M | 15.88M | 15.17M | 17.55M | 11.65M | 8.96M | 11.27M | 10.62M | 8.7M | 8.7M | 9.7M | 9.6M | 8.1M |
| Long-Term Debt | 6.1M | 3.24M | 3.87M | 5.14M | 6.36M | 7.52M | 9.35M | 5.29M | 5.26M | 5.41M | 5.55M | 6.79M | 6.18M | 6.42M | 7.34M | 7.67M | 9.65M | 10.37M | 10.51M | 12.55M | 12.73M | 14.4M | 8.47M | 5.83M | 8.18M | 7.7M | 6.36M | 6.9M | 8.4M | 9.3M | 8M |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 38.52M | 45.71M | 36.63M | 38.61M | 40.62M | 43.41M | 46.72M | 14.18M | 13.47M | 14.85M | 15.57M | 20.05M | 17.07M | 13.27M | 12.67M | 14.91M | 14.43M | 15.42M | 17.83M | 20.47M | 19.65M | 19.84M | 14.81M | 12.64M | 13.61M | 12.55M | 10.68M | 10.6M | 11.3M | 12.4M | 10.7M |
| Total Debt | 30.78M | 27.27M | 29.18M | 31.66M | 32.96M | 35.36M | 38.4M | 5.29M | 5.43M | 5.57M | 6.71M | 6.94M | 6.42M | 6.59M | 7.49M | 11.02M | 11.37M | 10.58M | 12.58M | 13.42M | 15.07M | 15.48M | 9.18M | 8.35M | 8.91M | 8.34M | 7.52M | 8.4M | 9.3M | 10.2M | 8.5M |
| Net Debt | 27.63M | 25.51M | 27.94M | 30.44M | 31.94M | 33.81M | 35.14M | 1.17M | 177.71K | 191.28K | 1.48M | 2.85M | 4.53M | 5.93M | 6.15M | 8.36M | 9.81M | 9.92M | 11.11M | 7.45M | 12.74M | 14.96M | 8.57M | 6.48M | 5.95M | 7.34M | 5.99M | 6.9M | 8.3M | 10M | 8.1M |
| Debt / Equity | 0.60x | 0.52x | 0.55x | 0.59x | 0.62x | 0.65x | 0.71x | 0.10x | 0.10x | 0.11x | 0.14x | 0.15x | 0.15x | 0.15x | 0.18x | 0.27x | 0.28x | 0.26x | 0.32x | 0.34x | 0.40x | 0.41x | 0.25x | 0.23x | 0.26x | 0.25x | 0.24x | 0.27x | 0.31x | 0.36x | 0.31x |
| Debt / EBITDA | 41.14x | 12.67x | 26.41x | 16.55x | 30.36x | 37.31x | 91.01x | 0.25x | 0.28x | 0.28x | 0.36x | 1.41x | 2.01x | 2.08x | 1.54x | 3.21x | 3.29x | 2.68x | 4.69x | 1.98x | 4.60x | 4.98x | 2.26x | 2.11x | 2.11x | 2.26x | 2.27x | 2.40x | 1.98x | 3.52x | 6.07x |
| Net Debt / EBITDA | 36.94x | 11.86x | 25.28x | 15.92x | 29.42x | 35.67x | 83.29x | 0.05x | 0.01x | 0.01x | 0.08x | 0.58x | 1.42x | 1.87x | 1.26x | 2.43x | 2.84x | 2.51x | 4.14x | 1.10x | 3.89x | 4.81x | 2.11x | 1.64x | 1.41x | 1.99x | 1.81x | 1.97x | 1.77x | 3.45x | 5.79x |
| Interest Coverage | - | -2.28x | -2.99x | 0.37x | -2.98x | 1.90x | -5.23x | 11.49x | 8.41x | 13.86x | 10.43x | 9.43x | 4.03x | 3.77x | 6.36x | 3.04x | 2.58x | 2.71x | - | - | - | - | 4.05x | - | - | - | - | - | - | - | - |
| Total Equity | 51.7M | 52.76M | 52.9M | 53.3M | 53.39M | 54.1M | 53.7M | 54.63M | 53.17M | 50.18M | 49.45M | 46.38M | 44.11M | 43.42M | 42.71M | 41.43M | 40.82M | 40.29M | 39.45M | 39.7M | 37.64M | 37.34M | 37M | 35.71M | 34.65M | 33.03M | 31.8M | 31.1M | 30.1M | 28M | 27.1M |
| Equity Growth % | -4.98% | -0.26% | -0.76% | -0.16% | -1.32% | 0.74% | -1.7% | 2.75% | 5.97% | 1.47% | 6.61% | 5.16% | 1.58% | 1.67% | 3.08% | 1.51% | 1.32% | 2.11% | -0.61% | 5.47% | 0.81% | 0.92% | 3.62% | 3.04% | 4.9% | 3.87% | 2.26% | 3.32% | 7.5% | 3.32% | -0.73% |
| Book Value per Share | 25.65 | 26.17 | 26.24 | 26.44 | 26.48 | 26.84 | 26.64 | 27.10 | 26.38 | 24.89 | 24.53 | 23.01 | 21.88 | 21.54 | 21.19 | 20.55 | 20.25 | 19.99 | 19.57 | 19.69 | 18.67 | 18.22 | 18.25 | 17.62 | 17.04 | 15.99 | 14.84 | 14.56 | 14.09 | 13.11 | 12.68 |
| Total Shareholders' Equity | 51.7M | 52.76M | 52.9M | 53.3M | 53.39M | 54.1M | 53.7M | 54.61M | 53.09M | 50M | 47.97M | 46.38M | 44.11M | 43.42M | 42.71M | 41.43M | 40.82M | 40.29M | 39.45M | 39.7M | 37.64M | 37.34M | 37M | 35.71M | 34.65M | 33.03M | 31.8M | 31.1M | 30.1M | 28M | 27.1M |
| Common Stock | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.18M | 2.2M | 0 | 0 | 0 |
| Retained Earnings | 47.47M | 48.53M | 48.66M | 49.07M | 49.15M | 49.86M | 49.47M | 50.37M | 48.37M | 45.4M | 43.47M | 41.95M | 39.74M | 39M | 38.34M | 37.07M | 36.54M | 36.11M | 35.35M | 35.43M | 33.37M | 31.94M | 31.59M | 30.45M | 29.31M | 28.05M | 26.76M | 25.7M | 24.5M | 22.7M | 21.9M |
| Treasury Stock | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.29M | -1.06M | -1.06M | -546.6K | -300K | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 487.14K | 368.48K | 264.54K | 196.03K | 129.41K | 183.63K | 133.48K | 126.42K | 41.72K | -58.08K | -134.41K | 33.25K | 31.75K | 1.16M | 1.17M | 1.01M | 880.81K | 515.88K | 63.12K | 100K | -21.6M | -20.7M | -19.7M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23.44K | 76.92K | 175.38K | 1.48M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Urban retail vacancy exposure
According to historical balance sheet data, J.W. Mays has maintained a remarkably consistent equity base of approximately $52M over the last ten quarters, suggesting that the company's long-term solvency remains insulated from the operational volatility currently impacting its income statement and cash flow generation.
The stability in equity despite persistent operational losses suggests that the company is not currently eroding its core capital base through aggressive expansion or debt-funded buybacks. Investors should monitor whether this stagnation reflects a deliberate preservation strategy or an inability to pivot the portfolio toward more productive, modern asset classes.
As reported in recent financial statements, J.W. Mays maintains a debt-to-equity ratio that has hovered near 0.52% to 0.60% over the past ten quarters, indicating a conservative capital structure that effectively shields the firm from the interest rate sensitivity currently plaguing more leveraged real estate peers.
This near-zero leverage profile provides a significant defensive moat, allowing the company to weather extended periods of negative operating margins without the immediate threat of insolvency. However, the lack of debt also implies that the company may be under-utilizing its balance sheet to fund necessary property upgrades that could potentially reverse its current revenue contraction.
Based on the most recent quarterly filings, the company's cash position of $3.1M represents a narrow buffer relative to its total asset base of $90.2M, which may indicate limited liquidity to address unexpected capital expenditures or significant tenant turnover within its aging urban retail portfolio.
While the current ratio of 3.00 appears healthy on the surface, the absolute dollar amount of cash remains low, leaving the firm vulnerable to localized shocks in the New York City commercial real estate market. This liquidity profile warrants close monitoring, as any major maintenance requirement could force the company to finally tap into debt markets or liquidate assets.
As evidenced by the reported net property, plant, and equipment figures, the company's assets are carried at historical cost, which likely masks a substantial valuation gap between the book value of $78.2M and the current market value of its prime Brooklyn and Queens real estate holdings.
The reliance on historical cost accounting makes the balance sheet a poor indicator of the company's true economic worth, potentially misleading investors who focus solely on book value metrics. This discrepancy suggests that the firm's true value is likely tied to a potential future liquidation or redevelopment catalyst rather than its current, struggling rental income stream.
Quick answers to the most common questions about buying MAYS stock.
As of 2025, J.W. Mays, Inc. (MAYS) had total assets of $98.5M including $5.7M in current assets.
J.W. Mays, Inc. (MAYS) carries total debt of $27.3M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
J.W. Mays, Inc. (MAYS) has total shareholders' equity (book value) of $52.8M ($26.17 book value per share). Book value represents the net worth of the company belonging to common stock holders.
J.W. Mays, Inc. (MAYS) reported a current ratio of 0.92x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.