Macerich Company (The) (MAC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Macerich Company (The)

NYSE•Real Estate•REIT - Retail

$22.42+0.04(<0.01%)Pre-market

Market Cap

$6.19B

P/S

6.2x

P/B

2.2x

The Macerich Company is a fully integrated, self-managed, 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 approximately 40 million square feet of real estate, consisting primarily of interests in 38 retail centers. The Macerich Company was incorporated in 1964 in Maryland and is based in Santa Monica, California.

How this company scores

AverageMetricSide Score: 55/100

Strongest: Profitability (15/25); weakest: Cash & Earnings Quality (12/25).

Profitability15/25

Growth14/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality12/25

Strengths

Profit converts from growthImproving leverageConsistent growthImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 50.3x5y range 50.3x – 264.1x

Currently below its 4-quarter median.

P/S · 6.2x5y range 2.0x – 6.2x

Currently above its 20-quarter median.

P/B · 2.2x5y range 0.6x – 2.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg 0.5x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $6.19B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.01B
Q. Revenue: $249.71M
TTM EBITDA: $244.88M
TTM Op. Income: $-112.05M
Q. Op. Income: $-27.72M
TTM Net Income: $-169.54M
Q. Net Income: $-27.07M
EPS: $-0.1
Shares Out.: $273.71M

$1.01B in TTM revenue grew 1.3% YoY, reaching $249.71M last quarter. TTM EBITDA of $244.88M and TTM operating income of $-112.05M show growth is flowing through to the bottom line. However, net income is negative at $169.54M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 3 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 24.6%
Op. Margin: -11.1%
Net Margin: -10.8%

Op. margin of -11.1% is up 1.2% YoY — cost efficiency is improving. Net margin at -10.8% Over the past year, operating margin is up 10% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 6.2x
P/B Ratio: 2.2x

P/S of 6.2x and P/B of 2.2x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $8.52B
Cash: $227.03M
Long-Term Debt: $4.85B
Book Value: $2.83B
D/E Ratio: 1.7
Debt/EBITDA: 78.8

With $8.52B in assets and $4.85B in long-term debt, D/E is 1.7and book value is $2.83B — moderate leverage. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $66.87M
TTM Free Cash Flow: $36.73M
FCF Margin: 3.7%
FCF / Net Income: -0.2

TTM FCF of $36.73M on $66.87M in operating cash flow. The FCF / Net Income ratio of -0.2x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 145% — an improving trend.