Mid-America Apartment Communities (MAA) FY2023 results: revenue $2.1 billion, up 6.4% on the year
Mid-America Apartment Communities, Inc. (MAA) reported revenue of $2.1 billion for fiscal 2023, the year ended 31 December 2023, up 6.4% on the year before. Net income was $553 million, down 13.3%, and diluted earnings per share $4.71. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2024.
Revenue
$2.1 billion
+6.4% on the year
FY2012FY2023
Operating margin
n/a
FY2012FY2023
Net income
$553 million
-13.3% on the year
FY2012FY2023
Diluted EPS
$4.71
-14.1% on the year
FY2012FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,137
1,058
895
+7.4%
Capital expenditure
341
296
280
+15.2%
Free cash flow
796
762
615
+4.4%
Free cash flow margin
37.0%
37.7%
34.6%
Cash from investing
-775
-405
-254
Cash from financing
-368
-723
-546
Depreciation and amortisation
566
544
534
+4.0%
Share-based compensation
15.7
18.8
16.7
-16.5%
Buybacks
0.0
n/a
n/a
Dividends paid
652
540
470
+20.8%
Dividend per share
$5.67
$4.99
$4.16
+13.7%
Diluted shares, weighted
117m
116m
115m
+0.9%
Shares outstanding at period end
117m
115m
115m
+1.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,094
6,005
5,965
+1.5%
Non-controlling interest
186
185
189
+0.7%
Redeemable equity
19.2
20.7
30.2
-7.3%
Debt
4,540
4,415
4,517
+2.8%
Other liabilities
645
616
584
+4.8%
Total liabilities and equity
11,485
11,241
11,285
+2.2%
Cash and equivalents
41.3
38.7
54.3
+6.9%
Other assets
11,443
11,203
11,231
+2.1%
Total assets
11,485
11,241
11,285
+2.2%
10-K for the year ended 31 December 2023, filed 9 February 2024: the filing.