Mid-America Apartment Communities Inc.
Find Ratings ReportsMID-AMERICA APT CMNTYS INC's gross profit margin for the fourth quarter of its fiscal year 2023 has increased when compared to the same period a year ago. Even though sales increased, the net income has decreased.
At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 1.45% from the same quarter last year.
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Income Statement | Q4 FY23 | Q4 FY22 |
---|---|---|
Net Sales ($mil) | 570.37 | 504.26 |
EBITDA ($mil) | 0.0 | 0.0 |
EBIT ($mil) | 204.99 | 153.08 |
Net Income ($mil) | 160.48 | 193.62 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 55.09 | 61.07 |
Total Assets ($mil) | 11484.5 | 11241.17 |
Total Debt ($mil) | 4567.57 | 4443.57 |
Equity ($mil) | 6113.24 | 6025.76 |
Profitability | Q4 FY23 | Q4 FY22 |
---|---|---|
Gross Profit Margin | 38.61 | 33.28 |
EBITDA Margin | 0.0 | 0.0 |
Operating Margin | 35.94 | 30.36 |
Sales Turnover | 0.19 | 0.17 |
Return on Assets | 4.81 | 5.67 |
Return on Equity | 8.98 | 10.52 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 0.0 | 0.0 |
Debt/Capital | 0.43 | 0.42 |
Interest Expense | 41.89 | 40.67 |
Interest Coverage | 4.89 | 3.76 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 116.69 | 115.48 |
Div / share | 1.4 | 1.25 |
EPS | 1.37 | 1.67 |
Book value / share | 52.39 | 52.18 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 960159.0 | 882058.0 |
BUY. The current P/E ratio indicates a significant discount compared to an average of 49.19 for the Real Estate subsector and a value on par with the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 2.49 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 6.43. The price-to-sales ratio is well above the S&P 500 average, but well below the subsector average. Upon assessment of these and other key valuation criteria, MID-AMERICA APT CMNTYS INC proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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MAA 27.66 | Peers 49.19 | MAA 13.37 | Peers 18.58 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. MAA is trading at a significant discount to its peers. |
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. MAA is trading at a significant discount to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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MAA 29.27 | Peers 40.04 | MAA NM | Peers 5.86 | |||||||||||||||||||||
Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations. MAA is trading at a discount to its peers. |
Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. MAA's negative PEG ratio makes this valuation measure meaningless. |
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Price/Book |
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Earnings Growth |
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MAA 2.49 | Peers 6.43 | MAA -14.21 | Peers -7.55 | |||||||||||||||||||||
Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. MAA is trading at a significant discount to its peers. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, MAA is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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MAA 6.97 | Peers 7.79 | MAA 11.94 | Peers 11.68 | |||||||||||||||||||||
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. MAA is trading at a discount to its subsector on this measurement. |
Average. Comparing a company's sales growth to its subsector helps to determine if the company is adding or losing market share. MAA is keeping pace with its peers on the basis of sales growth. |
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