# Mid-America Apartment Communities, Inc. (MAA) — Stock CV

Mid-America Apartment Communities, Inc. is a $13.6B real estate company. Revenue grew 0.8% over the last year, it keeps 18¢ of every dollar of sales as profit, and its net debt equals ~6.4 years of free cash flow. It trades at 33.6× earnings — around the middle of its own history.

> Mid-America Apartment Communities Inc is a multifamily-focused, self-administered and self-managed real estate investment trust. The company owns, operates, acquires and selectively develops apartment communities located in the Southeast, Southwest and Mid-Atlantic regions of the U.S.

## Identity

- **Ticker**: MAA
- **Sector**: Real Estate
- **Industry**: Real Estate Investment Trusts
- **Headquarters**: GERMANTOWN, TN
- **Employees**: 2 507
- **Website**: https://www.maac.com
- **Market cap**: $13.6B
- **Last price**: $116.86
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $2.22B
- **Net income**: $401M
- **Free cash flow**: $843M
- **Net debt**: $5.37B
- **P/E**: 33.6
- **Revenue growth (YoY)**: 0.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 49 |
| Growth | 32 |
| Profitability | 50 |
| Health | 18 |
| Quality | 35 |
| Moat | 50 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [x] Revenue growing — +0.8% YoY
- [x] Profitable — $401M TTM
- [ ] Profit growing — -11.6% YoY
- [x] Generates cash — $843M TTM
- [ ] Debt under control — ~6.4y of cash flow to repay
- [x] Established company — $13.6B market cap
- [x] Not printing shares — +0.6% shares over ~5y
- [x] Proven track record — 7/8 profitable years
- [ ] Financially stable — Altman Z 0.1 — distress
- [x] Pays a dividend — yield 5.28%
- [x] Valuation not extreme — P/E 33.6

## Experience (career milestones)

- **Q2 2026** — 2 open-market insider purchases: ~1K shares bought by insiders
- **FY2022** — Best year on record: $633M net income
- **FY2019** — Profitable every year on record: 7 consecutive profitable years in our data
- **FY2019** — Revenue crossed $1B: $1.64B for the year
- **FY2019** — Positive free cash flow every year since: 7-year streak

## Strengths

- High gross margin (58.4%)
- Strong cash conversion — FCF is 38.0% of revenue

## Watch-outs

- Altman Z-Score 0.09 — elevated financial-distress risk
- Net debt equals ~6.4 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.78B | $534M | $615M |
| FY2022 | $2.02B | $633M | $1.06B |
| FY2023 | $2.15B | $549M | $1.14B |
| FY2024 | $2.19B | $524M | $1.10B |
| FY2025 | $2.21B | $443M | $1.08B |

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Source: https://stockcv.com/MAA — derived from company filings; may be delayed or incomplete. Information, not investment advice.