MAA
Mid-America Apartment Communities Inc.Stock · Real EstateUS REITs 0.8% · S&P 500 Equal Weight 0.2% · S&P 500 0.03% · Russell 1000 0.02% · US Stock Market 0.02% · Russell 3000 0.02% · MSCI World 0.02% · MSCI ACWI 0.02%$118.93-1.85%
as of market close, Sep 18, 2026
☾ AH — —
MAA financial statements
The full income statement, balance sheet, and cash-flow statement for Mid-America Apartment Communities Inc. (MAA), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 116.9M2024-09 116.9M2024-12 116.9M2025-03 117.1M2025-06 117.1M2025-09 117.1M2025-12 116.9M2026-03 116.4M2026-06 116.0M-0.7% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 2.21B+0.8% | 2.19B+2.0% | 2.15B+6.4% | 2.02B+13.6% | 1.78B+6.0% | |
| 838M+2.2% | 820M+6.8% | 768M+6.1% | 724M | — | ||
| Selling, general & administrative | 54.8M-3.0% | 56.5M-3.5% | 58.6M-0.4% | 58.8M+11.2% | 52.9M+12.9% | |
| General & administrative | 54.8M-3.0% | 56.5M-3.5% | 58.6M-0.4% | 58.8M+11.2% | 52.9M+12.9% | |
| Interest expense | 185M+9.9% | 169M+12.9% | 149M-3.6% | 155M-1.4% | 157M-6.4% | |
| Other non-operating income | -47.2M-2949.6% | 1.66M-94.7% | 31.2M+173.0% | -42.7M-226.0% | 33.9M+598.0% | |
| Equity-method income | 2.08M+6.4% | 1.95M+12.8% | 1.73M+9.6% | 1.58M+30.4% | 1.21M-19.3% | |
| Gain (loss) on equity securities | — | 8.30M | — | — | — | |
| Pre-tax income | 459M-15.7% | 545M-4.6% | 571M-11.8% | 647M+14.9% | 563M+111.8% | |
| Income tax | 4.59M-12.3% | 5.24M+10.5% | 4.74M+176.4% | -6.21M-145.5% | 13.6M+309.9% | |
| 447M-15.3% | 528M-4.6% | 553M-13.3% | 637M+19.4% | 534M+109.4% | ||
| Net income to non-controlling interest | 9.66M-31.2% | 14.0M-6.6% | 15.0M-13.4% | 17.3M+2.5% | 16.9M+86.8% | |
| Preferred dividends | 3.69M+0.0% | 3.69M+0.0% | 3.69M+0.0% | 3.69M+0.0% | 3.69M+0.0% | |
| Net income to common | 443M-15.4% | 524M-4.6% | 549M-13.4% | 634M+19.6% | 530M+111.0% | |
| $3.78-15.8% | $4.49-4.7% | $4.71-14.1% | $5.48+18.9% | $4.61+110.5% | ||
| EPS (basic) | $3.79-15.6% | $4.49-4.7% | $4.71-14.2% | $5.49+18.8% | $4.62+110.0% | |
| Weighted-avg shares (basic) | 117M+0.2% | 117M+0.2% | 117M+1.0% | 115M+0.5% | 115M+0.5% | |
| Weighted-avg shares (diluted) | 117M+0.3% | 117M+0.1% | 117M+0.9% | 116M+0.5% | 115M+0.5% | |
| Dividends per share | $6.08+2.5% | $5.92+4.5% | $5.67+21.2% | $4.68+12.4% | $4.16+3.4% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 60.3M+40.1% | 43.0M+4.1% | 41.3M+6.9% | 38.7M-28.8% | 54.3M+115.5% | |
| 12.0B+1.4% | 11.8B+2.9% | 11.5B+2.2% | 11.2B-0.4% | 11.3B+0.8% | ||
| Operating lease right-of-use | 38.0M-6.2% | 40.5M-4.7% | 42.5M-4.7% | 44.6M-5.1% | 47.0M-4.9% | |
| 6.14B+8.3% | 5.66B+9.2% | 5.19B+3.1% | 5.03B-1.4% | 5.10B+0.2% | ||
| Long-term debt | 5.41B+8.5% | 4.98B+9.7% | 4.54B+2.8% | 4.41B-2.3% | 4.52B-1.0% | |
| Operating lease liability (total) | 24.3M-6.9% | 26.1M-4.6% | 27.3M-4.6% | 28.7M-5.2% | 30.3M-4.6% | |
| 5.66B-4.7% | 5.94B-2.5% | 6.09B+1.5% | 6.01B+0.7% | 5.97B+1.6% | ||
| Additional paid-in capital | 7.40B-0.2% | 7.42B+0.2% | 7.40B+2.7% | 7.20B-0.4% | 7.23B+0.8% | |
| Accumulated other comprehensive income | -5.30M+23.6% | -6.94M+20.8% | -8.76M+12.8% | -10.1M+9.7% | -11.1M+8.2% | |
| Total equity incl. non-controlling | 5.82B-5.0% | 6.13B-2.5% | 6.28B+1.5% | 6.19B+0.6% | 6.15B+1.1% | |
| Total liabilities & equity | 12.0B+1.4% | 11.8B+2.9% | 11.5B+2.2% | 11.2B-0.4% | 11.3B+0.8% | |
| Common shares issued | 117M-0.0% | 117M+0.2% | 117M+1.1% | 115M+0.1% | 115M+0.8% | |
| Common shares outstanding | 117M-0.0% | 117M+0.2% | 117M+1.1% | 115M+0.1% | 115M+0.8% | |
| Shares outstanding (cover) | 117M-0.0% | 117M+0.2% | 117M+0.1% | 117M+1.1% | 115M+0.8% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.08B-1.8% | 1.10B-3.4% | 1.14B+7.4% | 1.06B+18.3% | 895M+8.6% | ||
| Depreciation & amortization | 623M+6.2% | 586M+3.6% | 566M+4.0% | 544M+1.8% | 534M+4.4% | |
| Share-based compensation | 16.8M+6.7% | 15.8M+0.6% | 15.7M-16.5% | 18.8M+12.8% | 16.7M+16.3% | |
| Other operating activities | 9.25M+126.6% | -34.8M-42.3% | -24.5M-52.3% | -16.1M-128.7% | 55.9M+46.5% | |
| -690M+16.4% | -825M-6.5% | -775M-91.3% | -405M-59.8% | -254M+47.7% | ||
| Capital expenditure | 360M+11.7% | 322M-5.5% | 341M+15.2% | 296M+5.9% | 280M+24.0% | |
| Free cash flow | 718M-7.5% | 776M-2.5% | 796M+4.4% | 762M+23.9% | 615M+2.8% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| -371M-36.7% | -271M+26.3% | -368M+49.1% | -723M-32.3% | -546M-46.0% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 1.45M+18.0% | 1.23M-99.4% | 205M+18835.4% | 1.08M+67.9% | 645K | |
| Common stock repurchased | 27.2M | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 709M+3.2% | 687M+5.4% | 652M+20.8% | 540M+14.7% | 470M+2.9% | |
| Other financing activities | 255K+53.6% | 166K+103.1% | -5.28M+50.4% | -10.6M-56.9% | -6.79M-502.8% | |
| Net change in cash | 17.2M+930.8% | 1.67M+127.9% | -5.98M+91.4% | -69.5M-173.2% | 95.0M+372.0% | |
| Interest paid | 190M+15.4% | 165M+4.6% | 158M+0.0% | 157M-0.7% | 159M-3.9% | |
| Income taxes paid | 300K-91.0% | 3.34M-16.5% | 4.00M+14.7% | 3.49M+37.2% | 2.54M-0.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 16.2B-10.1% | 18.1B+15.2% | 15.7B-13.5% | 18.1B-31.5% | 26.5B+82.6% | |
| P/E | 36.3×+6.1% | 34.3×+27.9% | 26.8×-7.0% | 28.8×-41.9% | 49.6×-12.8% | |
| P/S | 7.4×-10.9% | 8.2×+12.2% | 7.4×-20.7% | 9.3×-37.7% | 14.9×+72.3% | |
| P/B | 2.9×-5.7% | 3.0×+18.5% | 2.6×-15.6% | 3.0×-31.5% | 4.4×+79.7% | |
| P/FCF | 22.6×-2.9% | 23.3×+16.6% | 20.0×-19.1% | 24.7×-42.6% | 43.0×+77.6% | |
| Earnings yield | 2.8%-5.7% | 2.9%-21.8% | 3.7%+7.6% | 3.5%+72.1% | 2.0%+14.6% | |
| FCF yield | 4.4%+3.0% | 4.3%-14.2% | 5.0%+23.7% | 4.0%+74.1% | 2.3%-43.7% | |
| Dividend yield | 4.4%+14.1% | 3.8%-9.1% | 4.2%+41.5% | 3.0%+64.3% | 1.8%-42.9% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: MAA’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MAA filings on SEC EDGAR → Not investment advice.