MAA Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Property Revenue	2,209	2,191	2,148	2,020	1,778
Revenue	2,209	2,191	2,148	2,020	1,778
Revenue Growth (YoY)	0.83%	1.98%	6.37%	13.60%	5.96%
Property Expenses	518.86	502.74	461.54	435.11	404.29
Total Property Expenses	518.86	502.74	461.54	435.11	404.29
Property Taxes	318.95	317.36	306.6	288.59	266.88
Gross Profit	1,371	1,371	1,380	1,296	1,107
Selling, General & Admin	129.59	128.56	126.36	124.3	108.62
Depreciation & Amortization Expenses	622.3	585.62	565.06	543	533.43
Operating Income	619.44	656.75	688.9	628.88	464.87
Net Gains on Disposal of Properties	-72.07	-55	0.01	-215.57	-221.24
Interest Income	2.08	1.95	1.73	1.58	1.21
Interest Expense	-185.26	-168.54	-149.23	-154.75	-156.88
Other Non-Operating Income (Expense)	47.16	-1.66	-31.19	42.71	-33.9
Total Non-Operating Income (Expense)	-208.09	-223.25	-178.68	-326.03	-410.81
Pretax Income	459.09	544.87	570.85	646.99	563.13
Provision for Income Taxes	4.6	5.24	4.74	-6.21	13.64
Net Income	446.91	527.54	552.81	637.44	533.79
Minority Interest in Earnings	9.66	14.03	15.03	17.34	16.91
Net Income to Common	446.91	527.54	552.81	637.44	533.79
Net Income Growth	-15.29%	-4.57%	-13.28%	19.42%	109.36%
Shares Outstanding (Basic)	117	117	117	115	115
Shares Outstanding (Diluted)	117	117	117	116	115
Shares Change (YoY)	0.32%	0.11%	0.92%	0.47%	0.47%
EPS (Basic)	3.79	4.49	4.71	5.49	4.62
EPS (Diluted)	3.78	4.49	4.71	5.48	4.61
EPS Growth	-15.81%	-4.67%	-14.05%	18.87%	110.50%
Free Cash Flow	312.46	160.96	374.36	318.75	337.66
Free Cash Flow Growth	94.12%	-57.00%	17.45%	-5.60%	-0.70%
Free Cash Flow Per Share	2.67	1.38	3.21	2.76	2.94
Dividends Per Share	6.060	5.880	5.600	4.680	4.100
Dividend Growth	3.06%	5.00%	19.66%	14.15%	2.50%
Gross Margin	62.08%	62.57%	64.25%	64.17%	62.25%
Operating Margin	28.04%	29.97%	32.06%	31.13%	26.14%
Profit Margin	20.67%	24.72%	26.43%	32.42%	30.97%
FCF Margin	14.14%	7.35%	17.42%	15.78%	18.99%
EBITDA	1,242	1,243	1,255	1,173	999.28
EBITDA Margin	56.24%	56.74%	58.40%	58.07%	56.20%
EBIT	619.44	656.75	688.9	628.88	464.87
EBIT Margin	28.04%	29.97%	32.06%	31.13%	26.14%
Effective Tax Rate	1.00%	0.96%	0.83%	-0.96%	2.42%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

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