Company Analysis

Macerich Company (The) MAC

A comprehensive view of key metrics, scores, and financial health for Macerich Company (The)

Overview of The Macerich Company

MAC NYQ

Real Estate REIT - Retail Framework: Real Estate Investment Trusts Mid Cap

The Macerich Company (MAC), is a Mid Cap company, in the REIT - Retail industry, last closed at $25.45, about 55.9% overvalued vs fair value, +61.7% 1Y return, ranked 161/330 in sector.

Metrics Rev Growth 10.6% ROE -7.6% Gross Margin 38.2% Div Yield 3.68%

USD 25.45

1.76%

(Delayed)

• Vol 90d: 33.1%

52-Week Range

Low

15.74

100%

Now 25.45

High

25.45

Market Cap

$6.38B

Enterprise Value

$11.54B

Overall Score

View breakdown

Overall

Growth

Fair

Profitability

Weak

Health

Weak

Efficiency

Weak

Valuation

Weak

Growth

Fair

Profitability

Weak

Health

Weak

Efficiency

Weak

Valuation

Weak

Completeness: 82%

Confidence: 87%

Updated: Mar 8

Top Beats

Quick Facts

Website https://www.macerich.com

HQ Santa Monica, CA

Employees 596

Fiscal year Dec 31

Next Events

Dividend Jun 29 Ex-div: Jun 15

Fair Value Snapshot

Bear Base Bull

$10

$11

$13

Current: $25.45 -56% vs base

Engine Room Money Flow™

Mid Cap

Real Estate Investment Trust - Where revenue goes and how value is created

Flow Steps

Total Revenue

$1.0B

10.6%%

Net Operating Income

$167.8M

1.7%%

Net Income

$-195.0M

-1.6%%

FFO (Funds From Operations)

$-261.3M

Money Flow Bridge

You are currently seeing a limited view of the money flow waterfall.

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Flow Direction: Money moves from left to right

Components: Breakdown shows composition of each stage

Industry-Specific: Real Estate Investment Trust

Data Quality Notes

Note: For REITs, FFO and AFFO are the key cash metrics. Net Income is distorted by high depreciation on properties.
Note: Owner Pocket percentages are relative to AFFO (not FCF), as AFFO represents true cash available for distribution.
Warning: Interest Coverage is 0.2x, indicating potential debt service pressure.
Note: Deleveraging - net debt repayment of $804.8M.
Note: Equity capital raised via stock issuance: $658.9M. May indicate dilution for growth or balance sheet strengthening.

Quality & Reliability Indicators

NOI Margin

16.5%

Poor

Operating Income / Revenue - property efficiency

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Where It Leaks

Cash Flow Health critical

Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.

Active Leaks

1/3

Improving

High Impact

Critical

Dividend/Buyback Overreach

Current: 288.7%

Allocation Leak

Worsening

Locked Leak

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Scores based on quantitative metrics and qualitative factors

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Rent Pricing Power

Moderate

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AFFO Strength

Developing

Balance Sheet & Cost of Capital

Weak

Capital Recycling & Growth

Strong

Operational Efficiency

Developing

Portfolio Quality & Diversification

Moderate

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Equity REITs vs Industry Peers 92% Coverage

Click axes to expand details. Marker shows current allocation.

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Growth

59th percentile vs peers

Key Signals

Rev Growth YoY 10.6% 70p FFO Growth YoY 1.74 93p Revenue CAGR 3Y 5.7% 52p AFFO YoY Growth 1.74 91p EPS Growth YoY 31.4% 62p

Strengths

FFO Growth YoY in top 20% of peers (1.74, 93th percentile)
Net Debt/EBITDA in top 20% of peers (15.22, 92th percentile)
AFFO YoY Growth in top 20% of peers (1.74, 91th percentile)
Price/FFO in top 20% of peers (29.56, 95th percentile)
P/AFFO in top 20% of peers (29.56, 93th percentile)

Risks

No significant risks identified for this axis.

Profitability

48th percentile vs peers

Key Signals

Strengths

Risks

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Safety

55th percentile vs peers

Key Signals

Strengths

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Two Futures

Scenario-based fair value ranges for Macerich Company (The).

WACC X.X%

X%XX%

Rev CAGR 5Y X.X%

-XX%XX%

Op Margin XX.X%

-XX%XX%

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Bear

- - -

- upside

Base

$11.23

- - -

-55.9% vs current

Snapshot base estimate

Bull

- - -

- upside

Fair Value Range Current: $-

$- $- $-

Macerich Company (The) MAC

Overview of The Macerich Company

Quick Facts

Next Events

Fair Value Snapshot

Flow Steps

Money Flow Bridge

Data Quality Notes

Quality & Reliability Indicators

NOI Margin

Locked Metric

Locked Metric

Locked Metric

Locked Metric

Dividend/Buyback Overreach

Locked Leak

Locked Leak

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Rent Pricing Power

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AFFO Strength

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Balance Sheet & Cost of Capital

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Capital Recycling & Growth

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Operational Efficiency

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Portfolio Quality & Diversification

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Growth

Profitability

Safety

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