MAC
The Macerich Company
There isn't enough reported data to score MAC yet.
MAC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| N/A | |
| N/A |
MAC's revenue is currently stable, but its profitability is under pressure. Free cash flow and net leverage aren't meaningful measures for real estate companies like MAC.
MAC PE Valuation
MAC has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 190x next year's earnings.
MAC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect MAC to return to profit, with revenue holding steady.
MAC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.13 | — |
| Q3 2026 | -$0.38 | +$1.27 |
| Q2 2026 | -$0.66 | +$1.15 |
| Q1 2026 | -$0.72 | -$0.23 |
| Q4 2025 | -$0.78 | +$0.10 |
| Q3 2025 | -$1.65 | -571% |
| Q2 2025 | -$1.81 | -$1.44 |
| Q1 2025 | -$0.49 | +$1.11 |
| Q4 2024 | -$0.88 | +$0.40 |
MAC is still losing money, but far less than before: $0.38 per share over the past year, against $2.00 at its worst in early 2021.
MAC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $260.1M | +2.7% |
| Q2 2026 | $249.7M | 0% |
| Q1 2026 | $241.5M | -3.1% |
| Q4 2025 | $261.7M | -4.4% |
| Q3 2025 | $253.3M | +15% |
| Q2 2025 | $249.8M | +16% |
| Q1 2025 | $249.2M | +19% |
| Q4 2024 | $273.7M | +15% |
MAC's revenue has held roughly level: $260M last quarter, up 2.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -15% | -3.5 points |
| Q2 2026 | -11% | +1.2 points |
| Q1 2026 | -15% | -0.2 points |
| Q4 2025 | -7.6% | -9.5 points |
| Q3 2025 | -11% | -1.9 points |
| Q2 2025 | -12% | -11 points |
| Q1 2025 | -15% | -3.8 points |
| Q4 2024 | 1.9% | -17 points |
MAC's operating margin was −15% last quarter, down 3.5 points from the same quarter a year ago.
MAC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $109.4M | -2.7% |
| Q2 2026 | $66.9M | -5.2% |
| Q1 2026 | $77.4M | -13% |
| Q4 2025 | $50.2M | -8.5% |
| Q3 2025 | $112.4M | +12% |
| Q2 2025 | $70.5M | +4.6% |
| Q1 2025 | $88.5M | +45% |
| Q4 2024 | $54.9M | +11% |
MAC's free cash flow was $304M over the past year, down 6.9% from the year before. Free cash flow isn't a meaningful measure for real estate companies like MAC.
MAC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.8% | +10.4M shares |
| 1 year | +12% | +29.9M shares |
| 3 years | +32% | +68.4M shares |
| 5 years | +33% | +70.9M shares |
| Available history | +101% | +143M shares |
MAC has 284M diluted shares, up 12% from a year ago.
MAC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 17.0x | High |
| Q2 2026 | 19.4x | High |
| Q1 2026 | 19.6x | High |
| Q4 2025 | 19.4x | High |
| Q3 2025 | 17.9x | High |
| Q2 2025 | 19.7x | High |
| Q1 2025 | 18.5x | High |
| Q4 2024 | 18.5x | High |
MAC's net debt is about 17 years of its operating earnings (EBITDA), down from 18 years a year ago. Net leverage isn't a meaningful measure for real estate companies like MAC.
MAC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.9 | Neutral |
| Stochastic | 68.6 | Neutral |
MAC's weekly RSI is 62 (neutral) and its Stochastic is 69 (neutral).
MAC PE vs Real Estate Sector
| Metric | MAC | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 24x | — |
MAC has no meaningful PE right now: it lost money over the past year.
MAC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $23.7 | 6.8% above |
| 20 week MA | $24.2 | 4.7% above |
| 50 week MA | $21.9 | 15% above |
| 100 week MA | $19.7 | 29% above |
| 200 week MA | $16.9 | 50% above |
MAC is in an uptrend: it's above all five of its weekly moving averages, and 50% above its 200-week average.
MAC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $26.5 | $10.9 | -59% |
| 2021 | $10.9 | $17.0 | +56% |
| 2022 | $17.0 | $11.5 | -32% |
| 2023 | $11.5 | $15.4 | +34% |
| 2024 | $15.4 | $20.1 | +31% |
| 2025 | $20.1 | $19.0 | -5.9% |
| 2026 YTD | $19.0 | $25.3 | +33% |
MAC is up 33% so far in 2026, after finishing lower in three of the previous six years.