Macerich (MAC) FY2018 results: revenue $960 million, down 3.4% on the year
Macerich Co. (MAC) reported revenue of $960 million for fiscal 2018, the year ended 31 December 2018, down 3.4% on the year before. Net income was $60 million, down 58.9%, and diluted earnings per share $0.42. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$960 million
-3.4% on the year
FY2011FY2018
Operating margin
2.6%
6.3% a year earlier
FY2011FY2018
Net income
$60 million
-58.9% on the year
FY2011FY2018
Diluted EPS
$0.42
-58.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
960
994
1,041
-3.4%
Operating income
25.4
62.9
96.7
-59.6%
Operating margin
2.6%
6.3%
9.3%
Interest expense
183
172
164
+6.5%
Income tax
-3.6
15.6
0.7
Net income
60.0
146
517
-58.9%
Net margin
6.2%
14.7%
49.7%
Diluted EPS
$0.42
$1.02
$3.52
-58.8%
$ 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
FY2016
On the year
Last 8 years
Operating cash flow
344
386
430
-10.9%
Capital expenditure
56.1
41.8
47.9
+34.3%
Free cash flow
288
345
382
-16.4%
Free cash flow margin
30.0%
34.7%
36.7%
Cash from investing
176
179
454
-1.5%
Cash from financing
-514
-566
-868
Depreciation and amortisation
335
341
355
-1.9%
Share-based compensation
27.4
30.8
33.3
-11.1%
Buybacks
0.0
221
800
Dividends paid
454
444
779
+2.2%
Dividend per share
$2.97
$2.87
$2.75
+3.5%
Diluted shares, weighted
141m
142m
147m
-0.5%
Shares outstanding at period end
141m
141m
144m
+0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,950
3,682
4,106
-19.9%
Non-controlling interest
238
286
321
-16.8%
Debt
4,982
5,170
4,966
-3.6%
Other liabilities
856
468
565
+83.0%
Total liabilities and equity
9,027
9,606
9,958
-6.0%
Intangible assets
46.2
59.9
84.0
-22.9%
Cash and equivalents
103
91.0
94.0
+12.8%
Other assets
8,878
9,455
9,780
-6.1%
Total assets
9,027
9,606
9,958
-6.0%
10-K for the year ended 31 December 2018, filed 25 February 2019: the filing.