Mid-America Apartment Communities (MAA) FY2018 results: revenue $1.6 billion, up 2.8% on the year
Mid-America Apartment Communities, Inc. (MAA) reported revenue of $1.6 billion for fiscal 2018, the year ended 31 December 2018, up 2.8% on the year before. Net income was $223 million, down 32.1%, and diluted earnings per share $1.93. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$1.6 billion
+2.8% on the year
FY2008FY2018
Operating margin
n/a
FY2008FY2018
Net income
$223 million
-32.1% on the year
FY2008FY2018
Diluted EPS
$1.93
-32.5% on the year
FY2008FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2012
On the year
Last 8 years
Revenue
1,571
1,529
447
+2.8%
Operating income
n/a
n/a
116
Operating margin
n/a
n/a
25.9%
Interest expense
174
155
52.2
+12.2%
Pre-tax income
232
342
60.2
-32.2%
Income tax
2.6
2.6
n/a
-0.3%
Effective tax rate
1.1%
0.8%
n/a
Net income
223
328
98.7
-32.1%
Net margin
14.2%
21.5%
22.1%
Diluted EPS
$1.93
$2.86
$2.56
-32.5%
$ 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
FY2018
FY2017
FY2012
On the year
Last 8 years
Operating cash flow
734
661
192
+11.1%
Capital expenditure
255
344
25.2
-25.9%
Free cash flow
480
317
167
+51.3%
Free cash flow margin
30.5%
20.7%
37.3%
Cash from investing
-366
-294
-303
Cash from financing
-405
-400
63.2
Depreciation and amortisation
491
495
120
-0.7%
Share-based compensation
12.4
10.6
2.0
+17.7%
Buybacks
n/a
n/a
2.0
Dividends paid
420
395
108
+6.2%
Dividend per share
$3.73
$3.53
$2.67
+5.5%
Diluted shares, weighted
114m
114m
43m
+0.1%
Shares outstanding at period end
114m
114m
42m
+0.2%
Balance sheet
$ million
FY2018
FY2017
FY2012
On the year
Last 8 years
Shareholders' equity
6,150
6,574
914
-6.5%
Non-controlling interest
222
n/a
14.8
Redeemable equity
9.4
n/a
n/a
Debt
4,530
4,500
1,674
+0.7%
Other liabilities
412
n/a
148
Total liabilities and equity
11,324
n/a
2,751
Goodwill
n/a
n/a
4.1
Cash and equivalents
34.3
10.8
8.9
+218.7%
Other assets
11,290
n/a
2,738
Total assets
11,324
n/a
2,751
10-K for the year ended 31 December 2018, filed 20 February 2020: the filing.