Mid-America Apartment Communities (MAA) FY2017 results: revenue $1.5 billion, up 242.4% on the year
Mid-America Apartment Communities, Inc. (MAA) reported revenue of $1.5 billion for fiscal 2017, the year ended 31 December 2017, up 242.4% on the year before. Net income was $328 million, up 232.6%, and diluted earnings per share $2.86. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$1.5 billion
+242.4% on the year
FY2008FY2017
Operating margin
n/a
25.9% a year earlier
FY2008FY2017
Net income
$328 million
+232.6% on the year
FY2008FY2017
Diluted EPS
$2.86
+11.7% on the year
FY2008FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2012
FY2011
On the year
Last 8 years
Revenue
1,529
447
386
+242.4%
Operating income
n/a
116
84.4
Operating margin
n/a
25.9%
21.9%
Interest expense
155
52.2
51.2
+196.2%
Pre-tax income
342
60.2
31.1
+467.5%
Income tax
2.6
n/a
n/a
Effective tax rate
0.8%
n/a
n/a
Net income
328
98.7
46.5
+232.6%
Net margin
21.5%
22.1%
12.1%
Diluted EPS
$2.86
$2.56
$1.31
+11.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
661
192
152
+244.5%
Capital expenditure
344
25.2
31.6
+1,266.6%
Free cash flow
317
167
121
+90.2%
Free cash flow margin
20.7%
37.3%
31.2%
Cash from investing
-294
-303
-393
Cash from financing
-400
63.2
252
Depreciation and amortisation
495
120
109
+311.0%
Share-based compensation
10.6
2.0
3.6
+428.8%
Buybacks
n/a
2.0
2.5
Dividends paid
395
108
92.0
+266.9%
Dividend per share
$3.53
$2.67
$2.54
+32.1%
Diluted shares, weighted
114m
43m
39m
+164.8%
Shares outstanding at period end
114m
42m
39m
+168.6%
Balance sheet
$ million
FY2017
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
6,574
914
718
+619.2%
Non-controlling interest
n/a
14.8
13.4
Debt
4,500
1,674
1,650
+168.8%
Other liabilities
n/a
148
n/a
Total liabilities and equity
n/a
2,751
2,322
Goodwill
n/a
4.1
4.1
Cash and equivalents
10.8
8.9
57.2
+21.0%
Other assets
n/a
2,738
2,260
Total assets
n/a
2,751
2,322
10-K for the year ended 31 December 2017, filed 20 February 2020: the filing.