MAC Stock Analysis: Macerich | NYSE
REIT - Retail | NYSE, USA | Market Cap: 7.110m USD | 12M Return: 48.6% | US5543821012 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 71.1M
Qual. Beats: 0
Rev. Trend: 93.1%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
The Macerich Company (NYSE: MAC) is a self-managed real estate investment trust (REIT) that owns, operates, and develops high-quality retail properties concentrated in densely populated U.S. markets, primarily California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Its portfolio consists of approximately 40 million square feet of real estate across interests in 38 retail centers, which serve as community cornerstones in their respective markets. As a Retail REIT, Macerich generates revenue primarily through leasing space to retailers and collecting rental income, a standard business model for the sector. The company was incorporated in 1964 in Maryland and is headquartered in Santa Monica, California.
- California consumer spending softness pressures tenant sales and rents
- Interest rate volatility impacts cap rates and refinancing risk
- Anchor tenant bankruptcies reduce occupancy and rental income
| Net Income: -169.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.94 > 1.0 |
| NWC/Revenue: -40.91% < 20% (prev -31.89%; Δ -9.02% < -1%) |
| CFO/TA 0.04 > 3% & CFO 306.8m > Net Income -169.5m |
| Net Debt (4.68b) to EBITDA (408.9m): 11.46 < 3 |
| Current Ratio: 0.46 > 1.5 & < 3 |
| Outstanding Shares: last quarter (273.7m) vs 12m ago 8.15% < -2% |
| Gross Margin: 24.47% > 18% (prev 54.04%; Δ -29.56% > 0.5%) |
| Asset Turnover: 11.69% > 50% (prev 11.37%; Δ 0.32% > 0%) |
| Interest Coverage Ratio: 0.18 > 6 (EBIT TTM 51.9m / Interest Expense TTM 281.6m) |
| A: -0.05 (Total Current Assets 355.6m - Total Current Liabilities 768.3m) / Total Assets 8.52b |
| B: -0.46 (Retained Earnings -3.93b / Total Assets 8.52b) |
| C: 0.01 (EBIT TTM 51.9m / Avg Total Assets 8.63b) |
| D: 0.50 (Book Value of Equity 2.83b / Total Liabilities 5.62b) |
| Altman-Z'' = -1.25 = CCC |
| DSRI: 0.95 (Receivables 128.6m/132.7m, Revenue 1.01b/992.9m) |
| GMI: 2.21 (GM 54.04% / 24.47%) |
| AQI: 1.01 (AQ_t 0.95 / AQ_t-1 0.95) |
| SGI: 1.02 (Revenue 1.01b / 992.9m) |
| TATA: -0.06 (NI -169.5m - CFO 306.8m) / TA 8.52b) |
| Beneish M = -1.96 (Cap -4..+1) = B |
As of November 01, 2026, the stock is trading at USD 24.34 with a total of 2,577,506 shares traded. Over the past week, the price has changed by +1.00%, over one month by +6.33%, over three months by -3.71% and over the past year by +48.61%.
Current recommended Stop Loss: 23.50 (which is 3.5% or 1.6 ATR below the current price).
Macerich has received a consensus analysts rating of 4.25. Therefore, it is recommended to buy MAC.
- StrongBuy: 9
- Buy: 4
- Hold: 2
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 26.6 | 9.1% |
P/E Forward = 1428.5714
P/S = 6.9205
P/B = 2.2868
P/EG = 4.8002
Revenue TTM = 1.01b USD
EBIT TTM = 51.9m USD
EBITDA TTM = 408.9m USD
Long Term Debt = 4.85b USD (from longTermDebt, last quarter)
Short Term Debt = 1.16b USD (from shortTermDebt, last fiscal year)
Debt = 4.91b USD (from shortLongTermDebtTotal, last quarter) + Leases 63.4m
Net Debt = 4.68b USD (calculated: Debt 4.91b - CCE 227.0m)
Enterprise Value = 11.8b USD (7.11b + Debt 4.91b - CCE 227.0m)
Interest Coverage Ratio = 0.18 (Ebit TTM 51.9m / Interest Expense TTM 281.6m)
EV/FCF = 55.83x (Enterprise Value 11.8b / FCF TTM 211.3m)
FCF Yield = 1.79% (FCF TTM 211.3m / Enterprise Value 11.8b)
FCF Margin = 20.94% (FCF TTM 211.3m / Revenue TTM 1.01b)
Net Margin = -16.81% (Net Income TTM -169.5m / Revenue TTM 1.01b)
Gross Margin = 24.47% ((Revenue TTM 1.01b - Cost of Revenue TTM 761.9m) / Revenue TTM)
Gross Margin QoQ = 68.79% (prev -17.65%)
Tobins Q-Ratio = 1.38 (Enterprise Value 11.8b / Total Assets 8.52b)
Interest Expense / Debt = 5.73% (Interest Expense 281.6m / Debt 4.91b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 41.0m (EBIT 51.9m * (1 - 21.00%))
Current Ratio = 0.46 (Total Current Assets 355.6m / Total Current Liabilities 768.3m)
Debt / Equity = 1.74 (Debt 4.91b / totalStockholderEquity, last quarter 2.83b)
Debt / EBITDA = 11.46 (Net Debt 4.68b / EBITDA 408.9m)
Debt / FCF = 22.17 (Net Debt 4.68b / FCF TTM 211.3m)
Total Stockholder Equity = 2.56b (last 4 quarters mean from totalStockholderEquity)
RoA = -1.97% (Net Income -169.5m / Total Assets 8.52b)
RoE = -6.63% (Net Income TTM -169.5m / Total Stockholder Equity 2.56b)
RoCE = 0.70% (EBIT 51.9m / Capital Employed (Equity 2.56b + L.T.Debt 4.85b))
RoIC = 0.46% (NOPAT 41.0m / Invested Capital 8.86b)
WACC = 6.55% (E(7.11b)/V(12.0b) * Re(7.94%) + D(4.91b)/V(12.0b) * Rd(5.73%) * (1-Tc(0.21)))
Discount Rate = 7.94% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 94.67 | Cagr: 11.09%
[DCF] Terminal Value 73.10% ; FCFF base≈246.3m ; Y1≈215.9m ; Y5≈174.5m
[DCF] Fair Price = N/A (negative equity: EV 2.80b - Net Debt 4.68b = -1.88b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.16 | # QB: 0
Revenue Correlation: 93.08 | Revenue CAGR: 7.16% | SUE: 0.34 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.01 | Chg30d=N/A | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=-0.17 | Chg30d=-1.47% | Revisions=-25% | GrowthEPS=+41.6% | GrowthRev=-2.8%
EPS next Year (2027-12-31): EPS=0.14 | Chg30d=+194.43% | Revisions=+0% | GrowthEPS=+179.7% | GrowthRev=+6.8%
[Analyst] Revisions Ratio: -17% (up=1, down=2)