MAC Stock Analysis: Macerich | NYSE
REIT - Retail | NYSE, USA | Market Cap: 7.208m USD | 12M Return: 37.2% | US5543821012 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 75.0M
Qual. Beats: 0
Rev. Trend: 93.1%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 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 fully integrated, self-managed, self-administered real estate investment trust (REIT) that owns, operates, and develops high-quality retail real estate across densely populated U.S. markets. As a retail REIT, Macerich generates revenue primarily through leasing space to retailers at its shopping centers; REITs are generally required to distribute at least 90% of their taxable income to shareholders, making them typically income-oriented investments.
Macerichs portfolio is concentrated in California, the Pacific Northwest, the Phoenix/Scottsdale area, and the Metro New York to Washington, D.C. corridor. The company owns approximately 41 million square feet of real estate across 39 retail centers that function as community cornerstones. Incorporated in 1964 in Maryland and headquartered in Santa Monica, California, Macerich is classified within the GICS Real Estate sector under the Retail REITs sub-industry and has been publicly traded since its 1994 IPO.
- Mall occupancy and tenant sales drive same-center NOI growth
- Interest rate hikes pressure REIT borrowing and refinancing costs
- Anchor tenant performance and lease renewals boost 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 (400.3m): 11.70 < 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 August 27, 2026, the stock is trading at USD 24.18 with a total of 2,098,966 shares traded. Over the past week, the price has changed by -2.89%, over one month by -7.46%, over three months by +8.24% and over the past year by +37.18%.
Current recommended Stop Loss: 23.40 (which is 3.2% or 1.4 ATR below the current price).
Macerich has received a consensus analysts rating of 3.40. Therefore, it is recommended to hold MAC.
- StrongBuy: 4
- Buy: 1
- Hold: 8
- Sell: 1
- StrongSell: 1
| Analysts Target Price | 26.7 | 10.4% |
P/E Forward = 454.5455
P/S = 7.0153
P/B = 2.4733
P/EG = 4.8002
Revenue TTM = 1.01b USD
EBIT TTM = 51.9m USD
EBITDA TTM = 400.3m 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 = 11.9b USD (7.21b + Debt 4.91b - CCE 227.0m)
Interest Coverage Ratio = 0.18 (Ebit TTM 51.9m / Interest Expense TTM 281.6m)
EV/FCF = 56.29x (Enterprise Value 11.9b / FCF TTM 211.3m)
FCF Yield = 1.78% (FCF TTM 211.3m / Enterprise Value 11.9b)
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 = 1.40 (Enterprise Value 11.9b / 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 = 11.70 (Net Debt 4.68b / EBITDA 400.3m)
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 = 6.94% (E(7.21b)/V(12.1b) * Re(8.59%) + D(4.91b)/V(12.1b) * Rd(5.73%) * (1-Tc(0.21)))
Discount Rate = 8.59% (= 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=-0.03 | Chg30d=N/A | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=-0.17 | Chg30d=+1.92% | Revisions=+25% | GrowthEPS=+41.3% | GrowthRev=-4.5%
EPS next Year (2027-12-31): EPS=0.04 | Chg30d=-33.33% | Revisions=+25% | GrowthEPS=+123.1% | GrowthRev=+2.9%
[Analyst] Revisions Ratio: +50% (up=3, down=0)