Aureus
AExcellent

Mid-America Apartment Communiti(MAA)

A

Financial data as of Dec 31, 2025Stable · Real Estate

FCF Margin31.7%Free Cash Flow / Revenue
Cash Conversion241.3%Operating CF / Net Income
Free Cash Flow$717.9M
Revenue$2.2B
Net Cash-$5.4BNet debt position
Debt / FCF7.7xElevated debt burden
Current Ratio0.09Tight short-term liquidity
YoY FCF Growth+3.1%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
+0.5Healthy FCF margin with manageable debt (31.7%, 7.7x; 4.4x sector-adjusted)
→
-1Current ratio below 1.0 (0.09)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (31.7%)
  • Excellent cash conversion (241%)
  • Highly consistent quarterly FCF

Concerns

  • Heavy debt position ($5.4B net debt, 7.7x FCF)
  • High debt-to-FCF ratio (7.7x)
  • Current ratio below 1.0 — tight short-term liquidity

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin31.7%
Net Margin20.2%
Operating CF Margin48.8%
CapEx Ratio16.3%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$5.4BNet debt position
Debt / FCF7.7xElevated debt burden
Current Ratio0.09Tight liquidity
Debt / Equity0.96Low leverage

Quarterly FCF Trend

+3.1% YoYStable (+3.1%)

Free cash flow per quarter

Sector Comparison — Real Estate

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameMid-America Apartment Communiti
SectorReal Estate
Free Cash Flow$717.9M
Revenue$2.2B
Net Income$446.9M
Operating Cash Flow$1.1B
Capital Expenditure$360.2M
FCF Margin31.7%
Cash Conversion Rate241.3%
Net Margin20.2%
Total Debt$5.4B
Total Cash$60.3M
Net Cash-$5.4B
Current Ratio0.09
Debt / Equity0.96
Debt / FCF7.7x
YoY FCF Growth+3.1%
Positive Quarters5 of 5
Trend DirectionStable
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance

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