MAC Stock Analysis: Macerich | NYSE
REIT - Retail | NYSE, USA | Market Cap: 7.868m USD | 12M Return: 63.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 101M
Qual. Beats: 0
Rev. Trend: 93.3%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 10.5 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: -183.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 0.05 > 1.0 |
| NWC/Revenue: -39.62% < 20% (prev -17.07%; Δ -22.55% < -1%) |
| CFO/TA 0.04 > 3% & CFO 348.7m > Net Income -183.4m |
| Net Debt (5.07b) to EBITDA (396.8m): 12.78 < 3 |
| Current Ratio: 0.50 > 1.5 & < 3 |
| Outstanding Shares: last quarter (258.0m) vs 12m ago 1.99% < -2% |
| Gross Margin: 21.07% > 18% (prev 53.73%; Δ -32.66% > 0.5%) |
| Asset Turnover: 11.96% > 50% (prev 11.04%; Δ 0.91% > 0%) |
| Interest Coverage Ratio: 0.15 > 6 (EBIT TTM 43.4m / Interest Expense TTM 287.5m) |
| A: -0.05 (Total Current Assets 400.1m - Total Current Liabilities 799.8m) / Total Assets 8.19b |
| B: -0.47 (Retained Earnings -3.86b / Total Assets 8.19b) |
| C: 0.01 (EBIT TTM 43.4m / Avg Total Assets 8.44b) |
| D: 0.43 (Book Value of Equity 2.44b / Total Liabilities 5.68b) |
| Altman-Z'' = -1.37 = CCC |
| DSRI: 0.39 (Receivables 53.5m/130.3m, Revenue 1.01b/958.6m) |
| GMI: 2.55 (GM 53.73% / 21.07%) |
| AQI: 7.58 (AQ_t 0.94 / AQ_t-1 0.12) |
| SGI: 1.05 (Revenue 1.01b / 958.6m) |
| TATA: -0.06 (NI -183.4m - CFO 348.7m) / TA 8.19b) |
| Beneish M = 1.81 (Cap -4..+1) = D |
As of July 07, 2026, the stock is trading at USD 25.46 with a total of 2,429,100 shares traded. Over the past week, the price has changed by -0.08%, over one month by +8.33%, over three months by +30.91% and over the past year by +63.54%.
Current recommended Stop Loss: 24.40 (which is 4.2% or 1.5 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 | 25.3 | -0.6% |
P/E Forward = 454.5455
P/S = 7.6812
P/B = 2.9612
P/EG = 4.8002
Revenue TTM = 1.01b USD
EBIT TTM = 43.4m USD
EBITDA TTM = 396.8m USD
Long Term Debt = 4.93b USD (from longTermDebt, last quarter)
Short Term Debt = 799.8m USD (from shortTermDebt, last quarter)
Debt = 5.12b USD (from shortLongTermDebtTotal, last quarter) + Leases 65.1m
Net Debt = 5.07b USD (calculated: Debt 5.12b - CCE 51.1m)
Enterprise Value = 12.9b USD (7.87b + Debt 5.12b - CCE 51.1m)
Interest Coverage Ratio = 0.15 (Ebit TTM 43.4m / Interest Expense TTM 287.5m)
EV/FCF = 43.91x (Enterprise Value 12.9b / FCF TTM 294.6m)
FCF Yield = 2.28% (FCF TTM 294.6m / Enterprise Value 12.9b)
FCF Margin = 29.21% (FCF TTM 294.6m / Revenue TTM 1.01b)
Net Margin = -18.18% (Net Income TTM -183.4m / Revenue TTM 1.01b)
Gross Margin = 21.07% ((Revenue TTM 1.01b - Cost of Revenue TTM 796.3m) / Revenue TTM)
Gross Margin QoQ = -17.65% (prev -9.41%)
Tobins Q-Ratio = 1.58 (Enterprise Value 12.9b / Total Assets 8.19b)
Interest Expense / Debt = 5.61% (Interest Expense 287.5m / Debt 5.12b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 34.3m (EBIT 43.4m * (1 - 21.00%))
Current Ratio = 0.50 (Total Current Assets 400.1m / Total Current Liabilities 799.8m)
Debt / Equity = 2.10 (Debt 5.12b / totalStockholderEquity, last quarter 2.44b)
Debt / EBITDA = 12.78 (Net Debt 5.07b / EBITDA 396.8m)
Debt / FCF = 17.21 (Net Debt 5.07b / FCF TTM 294.6m)
Total Stockholder Equity = 2.50b (last 4 quarters mean from totalStockholderEquity)
RoA = -2.17% (Net Income -183.4m / Total Assets 8.19b)
RoE = -7.35% (Net Income TTM -183.4m / Total Stockholder Equity 2.50b)
RoCE = 0.58% (EBIT 43.4m / Capital Employed (Equity 2.50b + L.T.Debt 4.93b))
RoIC = 0.42% (NOPAT 34.3m / Invested Capital 8.14b)
WACC = 7.22% (E(7.87b)/V(13.0b) * Re(9.03%) + D(5.12b)/V(13.0b) * Rd(5.61%) * (1-Tc(0.21)))
Discount Rate = 9.03% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 94.28 | Cagr: 8.22%
[DCF] Terminal Value 74.84% ; FCFF base≈299.9m ; Y1≈290.3m ; Y5≈285.8m
[DCF] Fair Price = N/A (negative equity: EV 4.48b - Net Debt 5.07b = -589.3m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.12 | # QB: 0
Revenue Correlation: 93.33 | Revenue CAGR: 7.21% | SUE: 0.37 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.05 | Chg30d=+11.82% | Revisions=+25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=-0.03 | Chg30d=N/A | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=-0.14 | Chg30d=+2.30% | Revisions=+0% | GrowthEPS=+52.6% | GrowthRev=-4.4%
EPS next Year (2027-12-31): EPS=0.11 | Chg30d=N/A | Revisions=+0% | GrowthEPS=+178.6% | GrowthRev=+4.4%
[Analyst] Revisions Ratio: +25% (up=1, down=0)