Macerich (MAC) FY2019 results: revenue $927 million, down 3.4% on the year
Macerich Co. (MAC) reported revenue of $927 million for fiscal 2019, the year ended 31 December 2019, down 3.4% on the year before. Net income was $97 million, up 61.3%, and diluted earnings per share $0.68. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$927 million
-3.4% on the year
FY2012FY2019
Operating margin
7.3%
2.6% a year earlier
FY2012FY2019
Net income
$97 million
+61.3% on the year
FY2012FY2019
Diluted EPS
$0.68
+61.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
927
960
994
-3.4%
Operating income
67.5
25.4
62.9
+165.7%
Operating margin
7.3%
2.6%
6.3%
Interest expense
138
183
172
-24.4%
Income tax
1.6
-3.6
15.6
Net income
96.8
60.0
146
+61.3%
Net margin
10.4%
6.2%
14.7%
Diluted EPS
$0.68
$0.42
$1.02
+61.9%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
355
344
386
+3.2%
Capital expenditure
21.1
56.1
41.8
-62.4%
Free cash flow
334
288
345
+15.9%
Free cash flow margin
36.0%
30.0%
34.7%
Cash from investing
-112
176
179
Cash from financing
-278
-514
-566
Depreciation and amortisation
338
335
341
+0.9%
Share-based compensation
12.0
27.4
30.8
-56.0%
Buybacks
0.0
0.0
221
Dividends paid
475
454
444
+4.6%
Dividend per share
$3.00
$2.97
$2.87
+1.0%
Diluted shares, weighted
141m
141m
142m
+0.1%
Shares outstanding at period end
141m
141m
141m
+0.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,632
2,950
3,682
-10.8%
Non-controlling interest
199
238
286
-16.6%
Debt
5,210
4,982
5,170
+4.6%
Other liabilities
813
856
468
-5.1%
Total liabilities and equity
8,854
9,027
9,606
-1.9%
Intangible assets
32.4
46.2
59.9
-29.9%
Cash and equivalents
100
103
91.0
-2.6%
Other assets
8,721
8,878
9,455
-1.8%
Total assets
8,854
9,027
9,606
-1.9%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.