Macerich (MAC) FY2023 results: revenue $884 million, up 2.9% on the year
Macerich Co. (MAC) reported revenue of $884 million for fiscal 2023, the year ended 31 December 2023, up 2.9% on the year before. Net income was -$274 million, and diluted earnings per share $-1.28. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.
Revenue
$884 million
+2.9% on the year
FY2016FY2023
Operating margin
1.5%
-7.8% a year earlier
FY2016FY2023
Net income
-$274 million
FY2016FY2023
Diluted EPS
-$1.28
FY2016FY2023
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
296
338
286
-12.4%
Capital expenditure
74.6
52.6
30.5
+41.6%
Free cash flow
221
285
256
-22.4%
Free cash flow margin
25.0%
33.2%
30.2%
Cash from investing
52.5
-1.4
235
Cash from financing
-339
-322
-837
Depreciation and amortisation
296
302
324
-2.0%
Share-based compensation
13.2
17.6
14.3
-25.4%
Dividends paid
159
186
143
-14.5%
Dividend per share
$0.68
$0.62
$0.60
+9.7%
Diluted shares, weighted
216m
215m
198m
+0.2%
Shares outstanding at period end
216m
215m
215m
+0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,447
2,866
3,047
-14.6%
Non-controlling interest
80.6
83.6
129
-3.6%
Debt
4,226
4,404
4,528
-4.0%
Other liabilities
760
741
641
+2.6%
Total liabilities and equity
7,514
8,094
8,346
-7.2%
Intangible assets
n/a
n/a
35.6
Cash and equivalents
94.9
100
112
-5.4%
Other assets
7,419
7,994
8,198
-7.2%
Total assets
7,514
8,094
8,346
-7.2%
10-K for the year ended 31 December 2023, filed 26 February 2024: the filing.