Mid-America Apartment Communities (MAA) FY2020 results: revenue $1.7 billion, up 2.3% on the year
Mid-America Apartment Communities, Inc. (MAA) reported revenue of $1.7 billion for fiscal 2020, the year ended 31 December 2020, up 2.3% on the year before. Net income was $255 million, down 27.9%, and diluted earnings per share $2.19. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$1.7 billion
+2.3% on the year
FY2009FY2020
Operating margin
n/a
FY2009FY2020
Net income
$255 million
-27.9% on the year
FY2009FY2020
Diluted EPS
$2.19
-28.7% on the year
FY2009FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,678
1,641
1,571
+2.3%
Interest expense
168
180
174
-6.8%
Pre-tax income
266
369
232
-27.9%
Income tax
3.3
3.7
2.6
-10.0%
Effective tax rate
1.3%
1.0%
1.1%
Net income
255
354
223
-27.9%
Net margin
15.2%
21.6%
14.2%
Diluted EPS
$2.19
$3.07
$1.93
-28.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
824
781
734
+5.4%
Capital expenditure
226
190
255
+18.6%
Free cash flow
598
591
480
+1.2%
Free cash flow margin
35.7%
36.0%
30.5%
Cash from investing
-485
-238
-366
Cash from financing
-374
-524
-405
Depreciation and amortisation
512
498
491
+2.8%
Share-based compensation
14.3
13.7
12.4
+4.9%
Dividends paid
457
438
420
+4.5%
Dividend per share
$4.03
$3.88
$3.73
+3.7%
Diluted shares, weighted
114m
114m
114m
+0.3%
Shares outstanding at period end
114m
114m
114m
+0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,872
6,069
6,150
-3.2%
Non-controlling interest
217
221
222
-1.9%
Redeemable equity
15.4
14.1
9.4
+9.0%
Debt
4,563
4,455
4,530
+2.4%
Other liabilities
528
472
412
+11.9%
Total liabilities and equity
11,195
11,230
11,324
-0.3%
Cash and equivalents
25.2
20.5
34.3
+23.1%
Other assets
11,170
11,210
11,290
-0.4%
Total assets
11,195
11,230
11,324
-0.3%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.