Mid-America Apartment Communities, Inc. (MAA)

MAA Income Statement

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

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	2,163	2,148	2,020	1,778	1,678	1,641
Revenue Growth (YoY)	4.35%	6.37%	13.60%	5.97%	2.25%	4.43%
Cost of Revenue	1,353	1,333	1,267	1,205	1,151	1,110
Gross Profit	810.34	815.26	753.17	573.48	526.67	531.33
Selling, General & Admin	129.55	126.36	124.3	108.62	99.16	98.86
Operating Expenses	129.55	126.36	124.3	108.62	99.16	98.86
Operating Income	680.78	688.9	628.88	464.87	427.51	432.47
Interest Expense / Income	152.31	149.23	154.75	156.88	167.56	179.85
Other Expense / Income	-37.77	-17.88	-157.1	-239.44	1.66	-104.88
Pretax Income	566.24	557.55	631.23	547.43	258.29	357.51
Income Tax	5.6	4.74	-6.21	13.64	3.33	3.7
Net Income	560.65	552.81	637.44	533.79	254.96	353.81
Preferred Dividends	3.69	3.69	3.69	3.69	3.69	3.69
Net Income Common	556.96	549.12	633.75	530.1	251.27	350.12
Net Income Growth	-15.47%	-13.35%	19.55%	110.97%	-28.23%	59.72%
Shares Outstanding (Basic)	117	117	115	115	114	114
Shares Change	0.10%	1.05%	0.29%	0.67%	0.27%	0.20%
EPS (Basic)	4.77	4.71	5.49	4.62	2.20	3.07
EPS (Diluted)	4.77	4.71	5.48	4.61	2.19	3.07
EPS Growth	-16.17%	-14.05%	18.87%	110.50%	-28.66%	59.07%
Free Cash Flow	399.52	377.3	639.24	630.73	342.66	373.22
Free Cash Flow Per Share	3.42	3.23	5.54	5.48	3.00	3.27
Dividend Per Share	5.670	5.600	4.675	4.100	4.000	3.840
Dividend Growth	13.70%	19.79%	14.02%	2.50%	4.17%	4.04%
Gross Margin	37.46%	37.95%	37.29%	32.25%	31.39%	32.38%
Operating Margin	31.47%	32.06%	31.13%	26.14%	25.48%	26.35%
Profit Margin	25.75%	25.56%	31.38%	29.81%	14.97%	21.34%
Free Cash Flow Margin	18.47%	17.56%	31.65%	35.47%	20.42%	22.74%
Effective Tax Rate	0.99%	0.85%	-0.98%	2.49%	1.29%	1.03%
EBITDA	1,289	1,273	1,330	1,239	937.53	1,035
EBITDA Margin	59.59%	59.23%	65.84%	69.67%	55.87%	63.08%
Depreciation & Amortization	570.36	565.86	544	534.42	511.68	497.79
EBIT	718.55	706.78	785.98	704.31	425.85	537.35
EBIT Margin	33.22%	32.90%	38.91%	39.61%	25.38%	32.75%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).