The Macerich Company (MAC)

The Macerich Company Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Property Revenue	950.76	850.45	809.02	800.55	787.55
Service and Other Revenue	63.22	67.75	75.05	58.62	59.89
Revenue	1,014	918.2	884.07	859.16	847.44
Revenue Growth (YoY)	10.43%	3.86%	2.90%	1.38%	7.81%
Property Expenses	372.96	348.21	324.83	322.55	319.85
Service and Other Expenses	84.64	82.06	70.06	67.8	61.03
Total Property Expenses	457.6	430.27	394.89	390.35	380.88
Gross Profit	556.38	487.94	489.18	468.81	466.55
Selling, General & Admin	31.54	28.15	29.24	27.16	30.06
Depreciation & Amortization Expenses	357.08	294.78	282.36	291.61	311.13
Operating Income	167.76	165.01	177.58	150.04	125.37
Net Gains on Disposal of Properties	-123.42	38.96	-134.52	7.7	75.74
Interest Income	35.95	-197.35	-156.94	-	15.69
Interest Expense	-283.54	-219.99	-172.92	-216.85	-192.68
Other Non-Operating Income (Expense)	-	14.4	8.21	-5.26	-1.01
Total Non-Operating Income (Expense)	-371.01	-363.98	-456.17	-214.41	-102.26
Pretax Income	-203.25	-198.97	-278.59	-64.37	23.11
Provision for Income Taxes	-2.19	-1.3	-0.49	0.71	6.95
Net Income	-197.15	-194.12	-274.07	-66.07	14.26
Minority Interest in Earnings	-3.91	-3.55	-4.03	0.99	1.9
Net Income to Common	-197.15	-194.12	-274.07	-66.07	14.26
Shares Outstanding (Basic)	254	222	216	215	198
Shares Outstanding (Diluted)	254	222	216	215	198
Shares Change (YoY)	14.59%	2.92%	0.24%	8.56%	35.45%
EPS (Basic)	-0.78	-0.88	-1.28	-0.31	0.07
EPS (Diluted)	-0.78	-0.88	-1.28	-0.31	0.07
Free Cash Flow	154.18	115.8	143	242.72	178.16
Free Cash Flow Growth	33.15%	-19.02%	-41.08%	36.23%	215.15%
Free Cash Flow Per Share	0.61	0.52	0.66	1.13	0.90
Dividends Per Share	0.680	0.680	0.680	0.620	0.600
Dividend Growth	-	-	9.68%	3.33%	-61.29%
Gross Margin	54.87%	53.14%	55.33%	54.57%	55.05%
Operating Margin	16.54%	17.97%	20.09%	17.46%	14.79%
Profit Margin	-19.83%	-21.53%	-31.46%	-7.57%	1.91%
FCF Margin	15.21%	12.61%	16.18%	28.25%	21.02%
EBITDA	535.86	470.89	473.97	452.52	449.77
EBITDA Margin	52.85%	51.28%	53.61%	52.67%	53.07%
EBIT	167.76	165.01	177.58	150.04	125.37
EBIT Margin	16.54%	17.97%	20.09%	17.46%	14.79%
Effective Tax Rate	1.08%	0.65%	0.18%	-1.10%	30.06%

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

SEC Filings: 10-K · 10-Q