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Last update at 2024-10-24T18:52:00Z
Macerich Schedules Third Quarter 2024 Earnings Release and Conference Call
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Thu 22 Aug 24, 04:09 PMMacerich Releases 2023 Corporate Responsibility Report
Thu 15 Aug 24, 11:00 AMMacerich (MAC) Q2 FFO Surpasses Estimates, Revenues Miss
Thu 01 Aug 24, 03:55 PMCompared to Estimates, Macerich (MAC) Q2 Earnings: A Look at Key Metrics
Wed 31 Jul 24, 01:30 PMBreakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
---|---|---|---|---|---|
Type | yearly | yearly | yearly | yearly | yearly |
Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
Income before tax | -64.37400M | 23.11M | -245.90900M | 104.14M | 65.37M |
Minority interest | -0.98900M | -1.90000M | -15.25900M | 5.73M | 8.95M |
Net income | -65.07900M | 14.26M | -245.46200M | 96.82M | 60.02M |
Selling general administrative | 27.16M | 30.06M | 30.34M | 22.63M | 24.16M |
Selling and marketing expenses | - | - | - | - | - |
Gross profit | 468.81M | 466.55M | 438.05M | 559.51M | 579.35M |
Reconciled depreciation | 291.61M | 311.13M | 326.06M | 337.67M | 332.74M |
Ebit | 144.78M | 141.06M | -102.24700M | 254.66M | 280.15M |
Ebitda | 436.39M | 452.19M | 217.37M | 585.38M | 607.59M |
Depreciation and amortization | 291.61M | 311.13M | 319.62M | 330.73M | 327.44M |
Non operating income net other | 2.44M | 91.43M | -95.15000M | 36.25M | 39.95M |
Operating income | 144.78M | 141.06M | -102.24700M | 254.66M | 208.38M |
Other operating expenses | 709.13M | 722.07M | 697.94M | 721.31M | 751.97M |
Interest expense | 216.85M | 192.68M | 75.55M | 138.25M | 182.96M |
Tax provision | 0.70M | 6.95M | -0.44700M | 1.59M | -3.60400M |
Interest income | 5.26M | 15.69M | 27.04M | 48.51M | 71.77M |
Net interest income | -216.85100M | -192.67900M | -75.55000M | -138.25400M | -182.96200M |
Extraordinary items | - | - | - | 0.00000M | 0.00000M |
Non recurring | - | - | - | - | - |
Other items | - | - | - | - | - |
Income tax expense | 0.70M | 6.95M | -0.44700M | 1.59M | -3.60400M |
Total revenue | 859.16M | 847.44M | 786.03M | 927.46M | 960.35M |
Total operating expenses | 318.78M | 341.19M | 349.96M | 353.36M | 370.96M |
Cost of revenue | 390.35M | 380.88M | 347.98M | 367.95M | 381.00M |
Total other income expense net | -209.15300M | -117.94600M | -143.66200M | -150.51400M | 39.95M |
Discontinued operations | - | - | - | - | - |
Net income from continuing ops | -65.07900M | 16.16M | -82.16400M | 102.55M | 68.97M |
Net income applicable to common shares | -66.06800M | 14.26M | -230.20300M | 96.82M | 60.02M |
Preferred stock and other adjustments | - | - | - | - | - |
Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
---|---|---|---|---|---|
Type | yearly | yearly | yearly | yearly | yearly |
Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
Total assets | 8094.14M | 8345.66M | 9184.00M | 8853.57M | 9026.81M |
Intangible assets | 152.56M | 151.82M | 175.51M | 158.60M | 259.36M |
Earning assets | - | - | - | - | - |
Other current assets | 80.82M | 254.91M | 306.96M | 14.21M | 390.40M |
Total liab | 5144.79M | 5169.51M | 6738.74M | 6022.60M | 5838.38M |
Total stockholder equity | 2865.77M | 3046.87M | 2257.05M | 2632.26M | 2950.23M |
Deferred long term liab | 30.72M | 254.91M | 306.96M | 74.74M | 99.62M |
Other current liab | 439.84M | 382.21M | 406.98M | 373.50M | 418.04M |
Common stock | 2.15M | 2.15M | 1.50M | 1.41M | 1.41M |
Capital stock | 2.15M | 2.15M | 1.50M | 1.41M | 1.41M |
Retained earnings | -2643.09400M | -2443.69600M | -2339.61900M | -1944.01200M | -1614.35700M |
Other liab | 48.37M | 53.76M | 60.35M | 30.18M | 51.98M |
Good will | - | - | - | - | - |
Other assets | 328.24M | 6704.27M | 8479.51M | 221.32M | 253.17M |
Cash | 100.32M | 112.45M | 465.30M | 100.00M | 102.71M |
Cash and equivalents | 100.32M | 112.45M | 465.30M | 100.00M | 102.71M |
Total current liabilities | 502.94M | 441.44M | 475.80M | 424.52M | 477.43M |
Current deferred revenue | - | - | - | - | - |
Net debt | 4398.30M | 4496.62M | 5663.27M | 14.20M | 4879.75M |
Short term debt | 0.00000M | 4423.55M | 4560.81M | 301.12M | 758.68M |
Short long term debt | - | - | - | 301.12M | 758.68M |
Short long term debt total | 4498.62M | 4609.08M | 6128.57M | 114.20M | 4982.46M |
Other stockholder equity | 5506.08M | 5488.44M | 4603.38M | 4583.91M | 4567.18M |
Property plant equipment | 6254.40M | 6394.84M | 6694.58M | 6643.51M | 6785.78M |
Total current assets | 368.03M | 633.24M | 1030.42M | 264.41M | 748.38M |
Long term investments | 1224.29M | 1317.57M | 1340.65M | 1519.70M | 1492.65M |
Net tangible assets | 2865.77M | 3046.87M | 2257.05M | 2632.26M | 2950.23M |
Short term investments | 1224.29M | 1317.57M | - | - | - |
Net receivables | 186.89M | 211.36M | 240.81M | 150.19M | 208.67M |
Long term debt | 4546.93M | 4528.36M | 6038.35M | 5209.98M | 4982.46M |
Inventory | - | 54.52M | 17.36M | - | 46.59M |
Accounts payable | 63.11M | 59.23M | 68.83M | 51.03M | 59.39M |
Total permanent equity | - | - | - | - | - |
Noncontrolling interest in consolidated entity | 83.58M | 129.28M | 188.21M | 198.71M | 238.20M |
Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
Accumulated other comprehensive income | 0.63M | -0.02400M | -8.20800M | -9.05100M | -4.46600M |
Additional paid in capital | - | - | - | - | - |
Common stock total equity | 2.15M | 2.15M | 1.50M | 1.41M | 1.41M |
Preferred stock total equity | - | - | - | - | - |
Retained earnings total equity | -2643.09400M | -2443.69600M | -2339.61900M | -1944.01200M | -1614.35700M |
Treasury stock | - | - | - | - | - |
Accumulated amortization | - | - | - | - | - |
Non currrent assets other | 71.75M | -175.23100M | -206.28100M | 6732.02M | -291.56000M |
Deferred long term asset charges | - | - | - | - | - |
Non current assets total | 7726.11M | 7712.41M | 8153.58M | 8589.16M | 8278.43M |
Capital lease obligations | 94.91M | 80.71M | 90.22M | 114.20M | - |
Long term debt total | 4546.93M | 4528.36M | 6038.35M | 5209.98M | 4982.46M |
Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
---|---|---|---|---|---|
Type | yearly | yearly | yearly | yearly | yearly |
Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
Investments | -81.71800M | -85.54600M | -232.46600M | -184.08400M | -180.19600M |
Change to liabilities | 70.63M | -34.81000M | -6.09900M | 26.11M | -11.43300M |
Total cashflows from investing activities | -1.40200M | 234.97M | -202.84800M | -112.02600M | 176.32M |
Net borrowings | -135.52100M | -1523.26700M | 621.71M | 221.15M | -55.08900M |
Total cash from financing activities | -321.94000M | -837.02400M | 446.45M | -278.21600M | -514.43800M |
Change to operating activities | 54.14M | -11.24900M | -17.38300M | 30.69M | -3.85400M |
Net income | -65.07900M | 16.16M | -245.46200M | 102.55M | 68.97M |
Change in cash | 14.17M | -315.68800M | 368.44M | -35.08500M | 6.20M |
Begin period cash flow | 166.97M | 482.66M | 114.22M | 149.30M | 143.10M |
End period cash flow | 181.14M | 166.97M | 482.66M | 114.22M | 149.30M |
Total cash from operating activities | 337.51M | 286.37M | 124.84M | 355.16M | 344.31M |
Issuance of capital stock | 1.74M | 831.59M | 1.53M | 1.52M | 1.57M |
Depreciation | 302.48M | 324.40M | 326.06M | 337.67M | 332.74M |
Other cashflows from investing activities | 75.78M | 351.04M | 52.76M | 93.17M | 593.75M |
Dividends paid | -186.32800M | -143.44700M | -179.86200M | -474.53400M | 453.63M |
Change to inventory | - | - | - | 40.24M | -12.29300M |
Change to account receivables | 6.61M | 62.42M | -105.94700M | -9.92900M | -13.91200M |
Sale purchase of stock | -0.18300M | 520.00M | 664.12M | 1796.00M | 415.00M |
Other cashflows from financing activities | 198.83M | -22.92200M | -3.82400M | -4.69500M | -7.56000M |
Change to netincome | 48.71M | -15.19300M | -54.83800M | -102.56000M | -56.61300M |
Capital expenditures | 77.18M | 30.52M | 23.14M | 187.91M | 237.23M |
Change receivables | 2.98M | 64.36M | -102.56200M | 3.96M | -16.93100M |
Cash flows other operating | -22.21500M | -68.55500M | 208.51M | -11.65300M | 40.26M |
Exchange rate changes | - | - | - | - | - |
Cash and cash equivalents changes | 14.17M | -315.68800M | 368.44M | -35.08500M | 6.20M |
Change in working capital | 60.37M | 44.43M | -107.85100M | 20.52M | -19.92500M |
Stock based compensation | 17.64M | 14.27M | 13.84M | 12.03M | 27.37M |
Other non cash items | 21.40M | -119.84500M | 138.70M | -119.21000M | -61.23500M |
Free cash flow | 337.51M | 286.37M | 124.84M | 355.16M | 107.08M |
Sector: Real Estate Industry: REIT - Retail
Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
---|---|---|---|---|---|---|---|---|
MAC Macerich Company |
0.02 0.11% | 18.30 | - | 500.00 | 4.77 | 1.35 | 8.65 | 16.16 |
SPG Simon Property Group Inc |
-0.66 0.38% | 173.16 | 21.31 | 24.69 | 9.77 | 16.15 | 12.96 | 14.98 |
O Realty Income Corporation |
-0.76 1.18% | 63.48 | 43.10 | 43.67 | 10.55 | 1.30 | 15.84 | 18.03 |
LKREF Link Real Estate Investment Trust |
0.30 6.52% | 4.90 | - | 15.77 | 1.14 | 0.61 | 1.54 | 26.84 |
KIM Kimco Realty Corporation |
-0.07 0.29% | 23.89 | 30.65 | 29.76 | 7.61 | 1.41 | 11.27 | 15.81 |
Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 47 million square feet of real estate consisting primarily of interests in 44 regional town centers. Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for nine consecutive years (2015-2023).
401 Wilshire Boulevard, Santa Monica, CA, United States, 90401
Name | Title | Year Born |
---|---|---|
Mr. Thomas E. O'Hern CPA | CEO & Director | 1956 |
Mr. Edward C. Coppola | Pres & Director | 1955 |
Mr. Scott W. Kingsmore | Sr. EVP, CFO & Treasurer | 1968 |
Ms. Ann C. Menard | Sr. EVP, Chief Legal Officer & Sec. | 1964 |
Mr. Douglas J. Healey | Sr. EVP & Head of Leasing | 1963 |
Mr. Christopher J. Zecchini | Sr. VP & Chief Accounting Officer | 1964 |
Samantha Greening | Director of Investor Relations | NA |
Ms. Olivia Bartel Leigh | Exec. VP of Portfolio Operations & People | NA |
Mr. Robert F. Beffa | Sr. VP of Real Estate | 1960 |
Mr. Kenneth L. Volk | Exec. VP of Bus. Devel. | 1963 |
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