Macerich (MAC) FY2020 results: revenue $786 million, down 15.2% on the year
Macerich Co. (MAC) reported revenue of $786 million for fiscal 2020, the year ended 31 December 2020, down 15.2% on the year before. Net income was -$230 million, and diluted earnings per share $-1.58. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$786 million
-15.2% on the year
FY2013FY2020
Operating margin
1.6%
7.3% a year earlier
FY2013FY2020
Net income
-$230 million
FY2013FY2020
Diluted EPS
-$1.58
FY2013FY2020
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
786
927
960
-15.2%
Operating income
12.5
67.5
25.4
-81.4%
Operating margin
1.6%
7.3%
2.6%
Interest expense
75.5
138
183
-45.4%
Income tax
-0.4
1.6
-3.6
Net income
-230
96.8
60.0
Net margin
-29.3%
10.4%
6.2%
Diluted EPS
-$1.58
$0.68
$0.42
$ 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
125
355
344
-64.9%
Capital expenditure
23.1
21.1
56.1
+9.6%
Free cash flow
102
334
288
-69.6%
Free cash flow margin
12.9%
36.0%
30.0%
Cash from investing
-203
-112
176
Cash from financing
446
-278
-514
Depreciation and amortisation
326
338
335
-3.4%
Share-based compensation
13.8
12.0
27.4
+15.1%
Buybacks
n/a
0.0
0.0
Dividends paid
180
475
454
-62.1%
Dividend per share
$1.55
$3.00
$2.97
-48.3%
Diluted shares, weighted
146m
141m
141m
+3.5%
Shares outstanding at period end
150m
141m
141m
+5.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,257
2,632
2,950
-14.3%
Non-controlling interest
188
199
238
-5.3%
Debt
6,038
5,210
4,982
+15.9%
Other liabilities
700
813
856
-13.8%
Total liabilities and equity
9,184
8,854
9,027
+3.7%
Intangible assets
48.1
32.4
46.2
+48.7%
Cash and equivalents
465
100
103
+365.3%
Other assets
8,671
8,721
8,878
-0.6%
Total assets
9,184
8,854
9,027
+3.7%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.